Question 1

Companies today need to have all of the following key capabilities except __________.

Accepted Answer

A)  Continuous cost reduction 
B)  Rapid production and delivery 
C)  Focused differentiation 
D)  Greater flexibility of operations 
E)  Rapid product development 
A)  Continuous cost reduction 
B)  Rapid production and delivery 
C)  Focused differentiation 
D)  Greater flexibility of operations 
E)  Rapid product development

Question 2

Which of the following is not an example of a social media tool that managers should be aware of?

Accepted Answer

A)  Facebook 
B)  LinkedIn 
C)  Excel 
D)  YouTube 
E)  Twitter 
A)  Facebook 
B)  LinkedIn 
C)  Excel 
D)  YouTube 
E)  Twitter

Question 3

Technological synergy involves transferring technology from one application to another.

Accepted Answer

A) True 
 B)False

Question 4

Key capabilities for today's companies include rapid product development and continuous cost reduction.

Accepted Answer

A) True 
 B)False

Question 5

Because of their long-term focus, strategic plans should not be changed once they are formulated.

Accepted Answer

A) True 
 B)False

Question 6

Three types of Internet business models include advertising-based, markup-based, and referral-based.

Accepted Answer

A) True 
 B)False

Question 7

The process of determining how to pursue the organization's long-term goals with the resources expected to be available refers to

Accepted Answer

A)  strategic planning. 
B)  synergy. 
C)  reengineering. 
D)  strategic management. 
E)  profiling. 
A)  strategic planning. 
B)  synergy. 
C)  reengineering. 
D)  strategic management. 
E)  profiling.

Question 8

All of the following are discussed in chapter 7 as alternative perspectives for thinking innovatively about strategy in today's fast-paced global economy except

Accepted Answer

A)  synergies. 
B)  Porter's generic strategies. 
C)  total quality management. 
D)  business ecosystems. 
E)  internet and social media strategies 
A)  synergies. 
B)  Porter's generic strategies. 
C)  total quality management. 
D)  business ecosystems. 
E)  internet and social media strategies

Question 9

When members of the management team have identical skills, personnel synergy occurs.

Accepted Answer

A) True 
 B)False

Question 10

What type of synergy is Sam's Club achieving when it combines its retail warehouse store with an adjacent gas station?

Accepted Answer

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

Question 11

_______ is an excellent example of a company that has made their money via an advertising-based internet business model.

Accepted Answer

A)  Walmart 
B)  Amazon.com 
C)  L.L. Bean 
D)  E-bay 
E)  Google 
A)  Walmart 
B)  Amazon.com 
C)  L.L. Bean 
D)  E-bay 
E)  Google

Question 12

Predictions, projections, or estimates of events or conditions in the environment in which the organization operates refers to

Accepted Answer

A)  forecasts. 
B)  company profiles. 
C)  trend analysis. 
D)  SWOT analysis. 
E)  reengineering. 
A)  forecasts. 
B)  company profiles. 
C)  trend analysis. 
D)  SWOT analysis. 
E)  reengineering.

Question 13

According to the author, which group needs a general understanding of strategic management?

Accepted Answer

A)  Staff specialists and managers at all levels 
B)  Planning specialists only 
C)  Primarily top executives 
D)  Everyone above the department head level 
E)  Every person in the organization 
A)  Staff specialists and managers at all levels 
B)  Planning specialists only 
C)  Primarily top executives 
D)  Everyone above the department head level 
E)  Every person in the organization

Question 14

Today, strategic thinking is needed by managers at all levels.

Accepted Answer

A) True 
 B)False

Question 15

Executives responding to a recent Gallup Poll said they spend the largest proportion of their time on "strategic thinking/planning".

Accepted Answer

A) True 
 B)False

Question 16

Roger is the production director at a computer manufacturer. He would like the company to implement cross-functional teams that can develop a whole new production process 3/4 one that eliminates time-wasting mistakes from ever occurring. What process would you recommend to Roger?

Accepted Answer

A)  Grand strategy formulation 
B)  Situational analysis 
C)  Capability profile 
D)  Reengineering 
E)  Total quality management 
A)  Grand strategy formulation 
B)  Situational analysis 
C)  Capability profile 
D)  Reengineering 
E)  Total quality management

Question 17

Rhiannon, the president of a global trading firm, relies on herself and a vice president to drive the firm's strategy. Which traditional strategy-making mode does she use?

Accepted Answer

A)  Command 
B)  Ritualistic 
C)  Rational 
D)  Hierarchical 
E)  Symbolic 
A)  Command 
B)  Ritualistic 
C)  Rational 
D)  Hierarchical 
E)  Symbolic

Question 18

Which of these is found in a farsighted organization?

Accepted Answer

A)  Emphasis on long-term development of employees 
B)  Emphasis on short-term profits 
C)  Emphasis on chasing symptoms and blaming scapegoats 
D)  Emphasis on applying competitors' good ideas 
E)  Emphasis on rigid structure emphasizing downward communication 
A)  Emphasis on long-term development of employees 
B)  Emphasis on short-term profits 
C)  Emphasis on chasing symptoms and blaming scapegoats 
D)  Emphasis on applying competitors' good ideas 
E)  Emphasis on rigid structure emphasizing downward communication

Question 19

Forecasts are considered pure guesses, "a shot in the dark", since one cannot predict the future.

Accepted Answer

A) True 
 B)False

Question 20

Porter's model helps managers think strategically by enabling them to see the big picture as it affects the organization and its changing environment.

Accepted Answer

A) True 
 B)False

Companies today need to have all of the following key capabilities except __________.

Which of the following is not an example of a social media tool that managers should be aware of?

Technological synergy involves transferring technology from one application to another.

Key capabilities for today's companies include rapid product development and continuous cost reduction.

Because of their long-term focus, strategic plans should not be changed once they are formulated.

Three types of Internet business models include advertising-based, markup-based, and referral-based.

The process of determining how to pursue the organization's long-term goals with the resources expected to be available refers to

All of the following are discussed in chapter 7 as alternative perspectives for thinking innovatively about strategy in today's fast-paced global economy except

When members of the management team have identical skills, personnel synergy occurs.

What type of synergy is Sam's Club achieving when it combines its retail warehouse store with an adjacent gas station?

_______ is an excellent example of a company that has made their money via an advertising-based internet business model.

Predictions, projections, or estimates of events or conditions in the environment in which the organization operates refers to

According to the author, which group needs a general understanding of strategic management?

Today, strategic thinking is needed by managers at all levels.

Executives responding to a recent Gallup Poll said they spend the largest proportion of their time on "strategic thinking/planning".

Roger is the production director at a computer manufacturer. He would like the company to implement cross-functional teams that can develop a whole new production process 3/4 one that eliminates time-wasting mistakes from ever occurring. What process would you recommend to Roger?

Rhiannon, the president of a global trading firm, relies on herself and a vice president to drive the firm's strategy. Which traditional strategy-making mode does she use?

Which of these is found in a farsighted organization?

Forecasts are considered pure guesses, "a shot in the dark", since one cannot predict the future.

Porter's model helps managers think strategically by enabling them to see the big picture as it affects the organization and its changing environment.

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

Companies today need to have all of the following key capabilities except __________.

Which of the following is not an example of a social media tool that managers should be aware of?

Technological synergy involves transferring technology from one application to another.

Key capabilities for today's companies include rapid product development and continuous cost reduction.

Because of their long-term focus, strategic plans should not be changed once they are formulated.

Three types of Internet business models include advertising-based, markup-based, and referral-based.

The process of determining how to pursue the organization's long-term goals with the resources expected to be available refers to

All of the following are discussed in chapter 7 as alternative perspectives for thinking innovatively about strategy in today's fast-paced global economy except

When members of the management team have identical skills, personnel synergy occurs.

What type of synergy is Sam's Club achieving when it combines its retail warehouse store with an adjacent gas station?

_______ is an excellent example of a company that has made their money via an advertising-based internet business model.

Predictions, projections, or estimates of events or conditions in the environment in which the organization operates refers to

According to the author, which group needs a general understanding of strategic management?

Today, strategic thinking is needed by managers at all levels.

Executives responding to a recent Gallup Poll said they spend the largest proportion of their time on "strategic thinking/planning".

Roger is the production director at a computer manufacturer. He would like the company to implement cross-functional teams that can develop a whole new production process 3/4 one that eliminates time-wasting mistakes from ever occurring. What process would you recommend to Roger?

Rhiannon, the president of a global trading firm, relies on herself and a vice president to drive the firm's strategy. Which traditional strategy-making mode does she use?

Which of these is found in a farsighted organization?

Forecasts are considered pure guesses, "a shot in the dark", since one cannot predict the future.

Porter's model helps managers think strategically by enabling them to see the big picture as it affects the organization and its changing environment.

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