Question 1

From a strategic standpoint, all of the following are shortsighted except

Accepted Answer

A)  emphasizing increased market share. 
B)  a follow the leader attitude. 
C)  focus on short-term profits 
D)  a rigid structure. 
E)  viewing labor as a commodity. 
A)  emphasizing increased market share. 
B)  a follow the leader attitude. 
C)  focus on short-term profits 
D)  a rigid structure. 
E)  viewing labor as a commodity.

Question 2

Math Wizards is striving to gain a competitive edge in a five-state area by keeping costs as low as possible. It is adhering to which of Porter's generic competitive strategies?

Accepted Answer

A)  Low cost 
B)  Market undercutting 
C)  Cost leadership 
D)  Focused differentiation 
E)  Cost focus 
A)  Low cost 
B)  Market undercutting 
C)  Cost leadership 
D)  Focused differentiation 
E)  Cost focus

Question 3

A prime example of a business ecosystem in action is Apple allowing developers of iPhone and iPad apps to write programs for both Apple and Android.

Accepted Answer

A) True 
 B)False

Question 4

Compared to the rest of the world, American managers are considered very farsighted.

Accepted Answer

A) True 
 B)False

Question 5

A farsighted management style involves finding solutions to problems.

Accepted Answer

A) True 
 B)False

Question 6

The "O" in a SWOT analysis stands for "outlook."

Accepted Answer

A) True 
 B)False

Question 7

The sources of competitive advantage for production-based Internet business models are search and problem-solving.

Accepted Answer

A) True 
 B)False

Question 8

Strategists are advised to avoid relying on forecasts today because things are changing too quickly.

Accepted Answer

A) True 
 B)False

Question 9

Management of the "big picture" refers to strategic management.

Accepted Answer

A) True 
 B)False

Question 10

A fee-for-service-based Internet business model features fees charged for metered services.

Accepted Answer

A) True 
 B)False

Question 11

Types of synergy, as discussed in the text, include all of the following except

Accepted Answer

A)  Management 
B)  Technology 
C)  Cost 
D)  Functional 
E)  Market 
A)  Management 
B)  Technology 
C)  Cost 
D)  Functional 
E)  Market

Question 12

Which statement best describes a shortsighted organization?

Accepted Answer

A)  Emphasis on finding solutions to problems 
B)  Flexible structure encouraging change, adaptability, and speed 
C)  A formally written and communicated statement of long-term organizational mission 
D)  Emphasis on stopgap hiring and training 
E)  Emphasis on gaining and holding a strategic competitive edge 
A)  Emphasis on finding solutions to problems 
B)  Flexible structure encouraging change, adaptability, and speed 
C)  A formally written and communicated statement of long-term organizational mission 
D)  Emphasis on stopgap hiring and training 
E)  Emphasis on gaining and holding a strategic competitive edge

Question 13

Human imagination is the only limit to creating cost synergies through recycling.

Accepted Answer

A) True 
 B)False

Question 14

In the ____ strategy-making mode, the role of top management is that of a facilitator.

Accepted Answer

A)  rational 
B)  transactive 
C)  command 
D)  generative 
E)  symbolic 
A)  rational 
B)  transactive 
C)  command 
D)  generative 
E)  symbolic

Question 15

What type of forecast would help you estimate the high temperature in Phoenix, AZ on July 4, 2013?

Accepted Answer

A)  Event outcome 
B)  Time series 
C)  Market 
D)  Event timing 
E)  Econometrics 
A)  Event outcome 
B)  Time series 
C)  Market 
D)  Event timing 
E)  Econometrics

Question 16

Top management's role is that of a ____ in the rational strategy-making mode.

Accepted Answer

A)  sponsor 
B)  facilitator 
C)  boss 
D)  coach 
E)  commander 
A)  sponsor 
B)  facilitator 
C)  boss 
D)  coach 
E)  commander

Question 17

A business ecosystem is an economic community of organizations and all their stakeholders.

Accepted Answer

A) True 
 B)False

Question 18

An organization's strategy is defined as an integrated and externally-oriented perception of how the organization will achieve its mission.

Accepted Answer

A) True 
 B)False

Question 19

____ has been defined as "an integrated and externally-oriented perception of how the organization will achieve its mission."

Accepted Answer

A)  Strategy 
B)  Reengineering 
C)  Capability profile 
D)  Synergy 
E)  Trend analysis 
A)  Strategy 
B)  Reengineering 
C)  Capability profile 
D)  Synergy 
E)  Trend analysis

Question 20

____ refers to rethinking and radically redesigning the entire business cycle.

Accepted Answer

A)  Cost reduction 
B)  Reengineering 
C)  SWOT analysis 
D)  Trend analyzing 
E)  Company profiling 
A)  Cost reduction 
B)  Reengineering 
C)  SWOT analysis 
D)  Trend analyzing 
E)  Company profiling

From a strategic standpoint, all of the following are shortsighted except

Math Wizards is striving to gain a competitive edge in a five-state area by keeping costs as low as possible. It is adhering to which of Porter's generic competitive strategies?

A prime example of a business ecosystem in action is Apple allowing developers of iPhone and iPad apps to write programs for both Apple and Android.

Compared to the rest of the world, American managers are considered very farsighted.

A farsighted management style involves finding solutions to problems.

The "O" in a SWOT analysis stands for "outlook."

The sources of competitive advantage for production-based Internet business models are search and problem-solving.

Strategists are advised to avoid relying on forecasts today because things are changing too quickly.

Management of the "big picture" refers to strategic management.

A fee-for-service-based Internet business model features fees charged for metered services.

Types of synergy, as discussed in the text, include all of the following except

Which statement best describes a shortsighted organization?

Human imagination is the only limit to creating cost synergies through recycling.

In the ____ strategy-making mode, the role of top management is that of a facilitator.

What type of forecast would help you estimate the high temperature in Phoenix, AZ on July 4, 2013?

Top management's role is that of a ____ in the rational strategy-making mode.

A business ecosystem is an economic community of organizations and all their stakeholders.

An organization's strategy is defined as an integrated and externally-oriented perception of how the organization will achieve its mission.

____ has been defined as "an integrated and externally-oriented perception of how the organization will achieve its mission."

____ refers to rethinking and radically redesigning the entire business cycle.

Managers and Entrepreneurs

The Evolution of Management Thought

The Changing Environment of Management: Diversity, Global Economy, and Technology

International Management and Cross-Cultural Competence

Managements Social and Ethical Responsibilities

The Basics of Planning and Project Management

Decision Making and Creative Problem Solving

Organizations: Effectiveness, Design, and Cultures

Human Resource Management

Communicating in the Internet Age

Motivating Job Performance

Group Dynamics and Teamwork

Influence, Power, and Leadership

Change, Conflict, and Negotiation

Organizational Control and Quality Improvement

Filters

Exam 7: Strategic Management: Planning for Long-Term Success

From a strategic standpoint, all of the following are shortsighted except

Math Wizards is striving to gain a competitive edge in a five-state area by keeping costs as low as possible. It is adhering to which of Porter's generic competitive strategies?

A prime example of a business ecosystem in action is Apple allowing developers of iPhone and iPad apps to write programs for both Apple and Android.

Compared to the rest of the world, American managers are considered very farsighted.

A farsighted management style involves finding solutions to problems.

The "O" in a SWOT analysis stands for "outlook."

The sources of competitive advantage for production-based Internet business models are search and problem-solving.

Strategists are advised to avoid relying on forecasts today because things are changing too quickly.

Management of the "big picture" refers to strategic management.

A fee-for-service-based Internet business model features fees charged for metered services.

Types of synergy, as discussed in the text, include all of the following except

Which statement best describes a shortsighted organization?

Human imagination is the only limit to creating cost synergies through recycling.

In the ____ strategy-making mode, the role of top management is that of a facilitator.

What type of forecast would help you estimate the high temperature in Phoenix, AZ on July 4, 2013?

Top management's role is that of a ____ in the rational strategy-making mode.

A business ecosystem is an economic community of organizations and all their stakeholders.

An organization's strategy is defined as an integrated and externally-oriented perception of how the organization will achieve its mission.

____ has been defined as "an integrated and externally-oriented perception of how the organization will achieve its mission."

____ refers to rethinking and radically redesigning the entire business cycle.

Managers and Entrepreneurs

The Evolution of Management Thought

The Changing Environment of Management: Diversity, Global Economy, and Technology

International Management and Cross-Cultural Competence

Managements Social and Ethical Responsibilities

The Basics of Planning and Project Management

Decision Making and Creative Problem Solving

Organizations: Effectiveness, Design, and Cultures

Human Resource Management

Communicating in the Internet Age

Motivating Job Performance

Group Dynamics and Teamwork

Influence, Power, and Leadership

Change, Conflict, and Negotiation

Organizational Control and Quality Improvement

Filters