Question 1

What serves as the focal point for the entire planning process?

Accepted Answer

A)  Product/service quality 
B)  A mission statement 
C)  The customer 
D)  A code of ethics 
E)  A performance appraisal system 
A)  Product/service quality 
B)  A mission statement 
C)  The customer 
D)  A code of ethics 
E)  A performance appraisal system

Question 2

Terrence is the founder of small Internet start-up specializing in entertainment programming. Terrence would like to add value to the company by leveraging a strong brand name and providing high quality information to specialized markets. Which Internet business model would you recommend?

Accepted Answer

A)  Referral-based 
B)  Subscription-based 
C)  Commission-based 
D)  Advertising-based 
E)  Mark-up based 
A)  Referral-based 
B)  Subscription-based 
C)  Commission-based 
D)  Advertising-based 
E)  Mark-up based

Question 3

The first step of the strategic management process is

Accepted Answer

A)  a clear code of ethics. 
B)  the formulation of strategic plans. 
C)  a statement of corporate values. 
D)  a staffing strategy. 
E)  formulation of a grand strategy. 
A)  a clear code of ethics. 
B)  the formulation of strategic plans. 
C)  a statement of corporate values. 
D)  a staffing strategy. 
E)  formulation of a grand strategy.

Question 4

Scenario analysis involves getting a group of experts to agree on one most likely future outcome.

Accepted Answer

A) True 
 B)False

Question 5

Globe Links Inc., a multinational conglomerate is pursuing expansion into South America. They have recently hired Diego to head the project. Diego speaks English, Spanish, and Brazilian Portuguese fluently, and has extensive experience in international management. What type of synergy is this move likely to create?

Accepted Answer

A)  Personnel synergy 
B)  Market synergy 
C)  Cost synergy 
D)  Management synergy 
E)  Technological synergy 
A)  Personnel synergy 
B)  Market synergy 
C)  Cost synergy 
D)  Management synergy 
E)  Technological synergy

Question 6

With the help of a SWOT analysis, an organization can find its correct niche.

Accepted Answer

A) True 
 B)False

Question 7

Middle- and lower-level managers become risk-taking entrepreneurs in the transactive strategy-making mode.

Accepted Answer

A) True 
 B)False

Question 8

Define the different kinds of synergies that can emerge in organizations and provide an example of each.

Accepted Answer

Market synergy occurs when one product o

Question 9

Only large companies need to have a social media monitoring plan to respond to postings that puts the organization's reputation at risk.

Accepted Answer

A) True 
 B)False

Question 10

Managers need to achieve four types of synergy: organizational, management, human, and market.

Accepted Answer

A) True 
 B)False

Question 11

Porter's differentiation strategy yields larger profit margins than the low-cost strategy.

Accepted Answer

A) True 
 B)False

Question 12

In the two modern modes of strategy making, top managers act as commander and coach rather than sponsor or facilitator.

Accepted Answer

A) True 
 B)False

Question 13

The "O" stands for ____, in a SWOT analysis.

Accepted Answer

A)  outcomes 
B)  opportunities 
C)  overhead 
D)  options 
E)  output 
A)  outcomes 
B)  opportunities 
C)  overhead 
D)  options 
E)  output

Question 14

Modern Swimwear Inc.
Tim was recently promoted to a newly created strategic planning position at Modern Swimwear Inc. Tim wants to make Modern Swimwear a farsighted organization. He is collecting information on key dimensions of strategic farsightedness and different strategy-making modes. Can you help?
-Refer to Modern Swimwear Inc. If Tim decides to go with a transactive mode, the role of top management should be ____.

Accepted Answer

A)  commander 
B)  entrepreneur 
C)  soldier 
D)  facilitator 
E)  coach 
A)  commander 
B)  entrepreneur 
C)  soldier 
D)  facilitator 
E)  coach

Question 15

One of the four major steps in the strategic management process is

Accepted Answer

A)  technological scanning. 
B)  strategic consensus. 
C)  strategy implementation. 
D)  strategic assessment. 
E)  human resource planning. 
A)  technological scanning. 
B)  strategic consensus. 
C)  strategy implementation. 
D)  strategic assessment. 
E)  human resource planning.

Question 16

Modern Swimwear Inc.
Tim was recently promoted to a newly created strategic planning position at Modern Swimwear Inc. Tim wants to make Modern Swimwear a farsighted organization. He is collecting information on key dimensions of strategic farsightedness and different strategy-making modes. Can you help?
-Refer to Modern Swimwear Inc. Tim needs to know more about farsighted organizations, which of the following is not characteristic of a farsighted company?

Accepted Answer

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

Question 17

Modern Swimwear Inc.
Tim was recently promoted to a newly created strategic planning position at Modern Swimwear Inc. Tim wants to make Modern Swimwear a farsighted organization. He is collecting information on key dimensions of strategic farsightedness and different strategy-making modes. Can you help?
-Refer to Modern Swimwear Inc. If Tim wants to encourage experimentation and risk-taking among his employees, which of these strategy-making modes should he encourage?

Accepted Answer

A)  Symbolic 
B)  Command 
C)  Generative 
D)  Transactive 
E)  Rational 
A)  Symbolic 
B)  Command 
C)  Generative 
D)  Transactive 
E)  Rational

Question 18

There is a trend away from the ____ mode and toward the ____ mode in strategy-making.

Accepted Answer

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

Question 19

____ synergy has been achieved when one product or service fortifies the sales of one or more other products or services.

Accepted Answer

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

Question 20

Describe how social media is impacting business managers advertisers today.

Accepted Answer

Social media tools (considered second-ge

What serves as the focal point for the entire planning process?

Terrence is the founder of small Internet start-up specializing in entertainment programming. Terrence would like to add value to the company by leveraging a strong brand name and providing high quality information to specialized markets. Which Internet business model would you recommend?

The first step of the strategic management process is

Scenario analysis involves getting a group of experts to agree on one most likely future outcome.

With the help of a SWOT analysis, an organization can find its correct niche.

Middle- and lower-level managers become risk-taking entrepreneurs in the transactive strategy-making mode.

Define the different kinds of synergies that can emerge in organizations and provide an example of each.

Only large companies need to have a social media monitoring plan to respond to postings that puts the organization's reputation at risk.

Managers need to achieve four types of synergy: organizational, management, human, and market.

Porter's differentiation strategy yields larger profit margins than the low-cost strategy.

In the two modern modes of strategy making, top managers act as commander and coach rather than sponsor or facilitator.

The "O" stands for ____, in a SWOT analysis.

One of the four major steps in the strategic management process is

There is a trend away from the mode and toward the mode in strategy-making.

____ synergy has been achieved when one product or service fortifies the sales of one or more other products or services.

Describe how social media is impacting business managers advertisers today.

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

What serves as the focal point for the entire planning process?

Terrence is the founder of small Internet start-up specializing in entertainment programming. Terrence would like to add value to the company by leveraging a strong brand name and providing high quality information to specialized markets. Which Internet business model would you recommend?

The first step of the strategic management process is

Scenario analysis involves getting a group of experts to agree on one most likely future outcome.

With the help of a SWOT analysis, an organization can find its correct niche.

Middle- and lower-level managers become risk-taking entrepreneurs in the transactive strategy-making mode.

Define the different kinds of synergies that can emerge in organizations and provide an example of each.

Only large companies need to have a social media monitoring plan to respond to postings that puts the organization's reputation at risk.

Managers need to achieve four types of synergy: organizational, management, human, and market.

Porter's differentiation strategy yields larger profit margins than the low-cost strategy.

In the two modern modes of strategy making, top managers act as commander and coach rather than sponsor or facilitator.

The "O" stands for ____, in a SWOT analysis.

One of the four major steps in the strategic management process is

There is a trend away from the ____ mode and toward the ____ mode in strategy-making.

____ synergy has been achieved when one product or service fortifies the sales of one or more other products or services.

Describe how social media is impacting business managers advertisers today.

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

There is a trend away from the mode and toward the mode in strategy-making.