Question 1

In smaller, new venture firms, returns are sometimes measured in terms of:

Accepted Answer

A)  return on assets. 
B)  return on equity. 
C)  return on sales. 
D)  the amount and speed of growth. 
A)  return on assets. 
B)  return on equity. 
C)  return on sales. 
D)  the amount and speed of growth.

Question 2

A competitive advantage:

Accepted Answer

A)  can be permanent if the firm has successfully implemented the strategic management process. 
B)  entails reducing investors' risk to near zero. 
C)  can be identified when competitors are unable to duplicate or find it too costly to try to imitate. 
D)  exists when competing firms are unable to find investors. 
A)  can be permanent if the firm has successfully implemented the strategic management process. 
B)  entails reducing investors' risk to near zero. 
C)  can be identified when competitors are unable to duplicate or find it too costly to try to imitate. 
D)  exists when competing firms are unable to find investors.

Question 3

A prominent national website services company runs Super Bowl advertisements showing a small business owner working alone in the office on a project, during the big game. The message of the ad is that the company understands the sacrifices of its customers. This ad seeks to convey a sense of the organization's ____ to the product market stakeholders.

Accepted Answer

A)  culture of recognition and reward 
B)  mission to radically shift the global economy toward small businesses 
C)  leadership as a technology company 
D)  personality as sports lovers 
A)  culture of recognition and reward 
B)  mission to radically shift the global economy toward small businesses 
C)  leadership as a technology company 
D)  personality as sports lovers

Question 4

Organizational culture refers to:

Accepted Answer

A)  the social energy that drives, or fails to drive, the organization. 
B)  the complex set of ideologies, symbols, and core values that are shared throughout the firm. 
C)  what people do when no one else is looking. 
D)  All of these options are correct. 
A)  the social energy that drives, or fails to drive, the organization. 
B)  the complex set of ideologies, symbols, and core values that are shared throughout the firm. 
C)  what people do when no one else is looking. 
D)  All of these options are correct.

Question 5

New markets created by iPods, PDAs, and Wi-Fi are a result of:

Accepted Answer

A)  disruptive technologies. 
B)  global competition. 
C)  knowledge intensity. 
D)  hypercompetition. 
A)  disruptive technologies. 
B)  global competition. 
C)  knowledge intensity. 
D)  hypercompetition.

Question 6

A company's ability to acquire knowledge is:

Accepted Answer

A)  less important in the 21st century than in previous periods of business history. 
B)  an important source of competitive advantage in virtually all industries. 
C)  not considered an asset or resource for businesses. 
D)  only important in high technology industries. 
A)  less important in the 21st century than in previous periods of business history. 
B)  an important source of competitive advantage in virtually all industries. 
C)  not considered an asset or resource for businesses. 
D)  only important in high technology industries.

Question 7

Strategic leaders are:

Accepted Answer

A)  located only at the executive level. 
B)  located in different areas and levels. 
C)  the CEO, COO, and CFO only. 
D)  located at different levels, but only in the operating area of the organization. 
A)  located only at the executive level. 
B)  located in different areas and levels. 
C)  the CEO, COO, and CFO only. 
D)  located at different levels, but only in the operating area of the organization.

Question 8

The strategic leader's work is characterized by:

Accepted Answer

A)  ambiguous decision situations where the best course of action is not always easy to identify. 
B)  a willingness to unify stakeholders through skillful manipulation. 
C)  an ability to identify solutions to long-range problems. 
D)  concentration on the practical day-to-day aspects of the organization's operations. 
A)  ambiguous decision situations where the best course of action is not always easy to identify. 
B)  a willingness to unify stakeholders through skillful manipulation. 
C)  an ability to identify solutions to long-range problems. 
D)  concentration on the practical day-to-day aspects of the organization's operations.

Question 9

The resource-based model assumes that firms must have resources that are rare or costly to imitate to form a basis for competitive advantage.

Accepted Answer

A) True 
 B)False

Question 10

A firm's mission tends to be enduring while its vision can change in light of changing environmental conditions.

Accepted Answer

A) True 
 B)False

Question 11

A retail outlet can attempt several remedies to improve profitability to meet the expectations of its _______ stakeholders, including closing stores, changing the top management team, and seeking potential buyers.

Accepted Answer

A)  product market 
B)  capital market 
C)  organizational 
D)  governmental 
A)  product market 
B)  capital market 
C)  organizational 
D)  governmental

Question 12

An investor is considering in which of two start-up companies to invest. The investor has faith in the industrial organization model of above-average returns and is using that as a guideline to make a decision. Both start-up companies propose to manufacture health-focused foods with low salt, low sugar, high fiber, and no artificial additives. RexRich Foods has a business strategy of producing a differentiated product for which consumers will pay more. Green Pastures Foods is in the health-foods industry because of its internal culture and commitment to healthy lifestyles, but it does not have any executives with experience in food production. Which firm will the investor feel is most consistent with the model of industrial organization?

Accepted Answer

A)  Green Pastures Foods 
B)  RexRich Foods 
C)  Both firms are consistent with the I/O approach. 
D)  At the entrepreneurial stage, the model that companies follow is not important. 
A)  Green Pastures Foods 
B)  RexRich Foods 
C)  Both firms are consistent with the I/O approach. 
D)  At the entrepreneurial stage, the model that companies follow is not important.

Question 13

The two primary drivers of hypercompetition are the emergence of the global economy and technology.

Accepted Answer

A) True 
 B)False

Question 14

A major assumption about the strategic management process is that it is:

Accepted Answer

A)  inspired. 
B)  team-based. 
C)  rational. 
D)  inclusive. 
A)  inspired. 
B)  team-based. 
C)  rational. 
D)  inclusive.

Question 15

?To implement a firm's strategies, the firm takes actions to with the goal of achieving strategic competitiveness and above average returns.

Accepted Answer

A) True 
 B)False

Question 16

Economies of scale and huge advertising budgets are just as effective in the new competitive landscape as they were in the past.

Accepted Answer

A) True 
 B)False

Question 17

The Princeton Alliance Church states in its website that "PAC exists to help you live life to the fullest by knowing God, developing community and bringing hope." This pronouncement is most precisely a statement of organizational:

Accepted Answer

A)  values. 
B)  structure. 
C)  vision. 
D)  culture. 
A)  values. 
B)  structure. 
C)  vision. 
D)  culture.

Question 18

Capital market stakeholders include:

Accepted Answer

A)  industry competitors. 
B)  shareholders. 
C)  employees. 
D)  government regulators. 
A)  industry competitors. 
B)  shareholders. 
C)  employees. 
D)  government regulators.

Question 19

______ is an investor's uncertainty about the economic gains or losses that will result from a particular investment.

Accepted Answer

A)  Return 
B)  Reward 
C)  Risk 
D)  Revenue 
A)  Return 
B)  Reward 
C)  Risk 
D)  Revenue

Question 20

Even for companies capable of succeeding in global markets, it is critical that they:

Accepted Answer

A)  remain committed to and strategically competitive in their domestic market. 
B)  introduce many new products immediately after entering a new market. 
C)  acquire a local competitor in each significant foreign market. 
D)  develop good negotiating skills in order to take advantage of local suppliers in the international market. 
A)  remain committed to and strategically competitive in their domestic market. 
B)  introduce many new products immediately after entering a new market. 
C)  acquire a local competitor in each significant foreign market. 
D)  develop good negotiating skills in order to take advantage of local suppliers in the international market.

In smaller, new venture firms, returns are sometimes measured in terms of:

A competitive advantage:

Organizational culture refers to:

New markets created by iPods, PDAs, and Wi-Fi are a result of:

A company's ability to acquire knowledge is:

Strategic leaders are:

The strategic leader's work is characterized by:

The resource-based model assumes that firms must have resources that are rare or costly to imitate to form a basis for competitive advantage.

A firm's mission tends to be enduring while its vision can change in light of changing environmental conditions.

A retail outlet can attempt several remedies to improve profitability to meet the expectations of its _______ stakeholders, including closing stores, changing the top management team, and seeking potential buyers.

The two primary drivers of hypercompetition are the emergence of the global economy and technology.

A major assumption about the strategic management process is that it is:

?To implement a firm's strategies, the firm takes actions to with the goal of achieving strategic competitiveness and above average returns.

Economies of scale and huge advertising budgets are just as effective in the new competitive landscape as they were in the past.

The Princeton Alliance Church states in its website that "PAC exists to help you live life to the fullest by knowing God, developing community and bringing hope." This pronouncement is most precisely a statement of organizational:

Capital market stakeholders include:

______ is an investor's uncertainty about the economic gains or losses that will result from a particular investment.

Even for companies capable of succeeding in global markets, it is critical that they:

The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis

The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages

Business-Level Strategy

Competitive Rivalry and Competitive Dynamics

Corporate-Level Strategy

Merger and Acquisition Strategies

International Strategy

Cooperative Strategy

Corporate Governance

Organizational Structure and Controls

Strategic Leadership

Strategic Entrepreneurship

Filters

Exam 1: Strategic Management and Strategic Competitiveness

In smaller, new venture firms, returns are sometimes measured in terms of:

A competitive advantage:

Organizational culture refers to:

New markets created by iPods, PDAs, and Wi-Fi are a result of:

A company's ability to acquire knowledge is:

Strategic leaders are:

The strategic leader's work is characterized by:

The resource-based model assumes that firms must have resources that are rare or costly to imitate to form a basis for competitive advantage.

A firm's mission tends to be enduring while its vision can change in light of changing environmental conditions.

A retail outlet can attempt several remedies to improve profitability to meet the expectations of its _______ stakeholders, including closing stores, changing the top management team, and seeking potential buyers.

The two primary drivers of hypercompetition are the emergence of the global economy and technology.

A major assumption about the strategic management process is that it is:

?To implement a firm's strategies, the firm takes actions to with the goal of achieving strategic competitiveness and above average returns.

Economies of scale and huge advertising budgets are just as effective in the new competitive landscape as they were in the past.

The Princeton Alliance Church states in its website that "PAC exists to help you live life to the fullest by knowing God, developing community and bringing hope." This pronouncement is most precisely a statement of organizational:

Capital market stakeholders include:

______ is an investor's uncertainty about the economic gains or losses that will result from a particular investment.

Even for companies capable of succeeding in global markets, it is critical that they:

The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis

The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages

Business-Level Strategy

Competitive Rivalry and Competitive Dynamics

Corporate-Level Strategy

Merger and Acquisition Strategies

International Strategy

Cooperative Strategy

Corporate Governance

Organizational Structure and Controls

Strategic Leadership

Strategic Entrepreneurship

Filters