Question 1

Activities that an organisation does well or resources that it has available are called 'assets'.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following describes a company growing by combining with other organisations in the same industry?

Accepted Answer

A) forward vertical integration 
B) backward vertical integration 
C) horizontal integration 
D) related diversification 
E) unrelated diversification 
A) forward vertical integration 
B) backward vertical integration 
C) horizontal integration 
D) related diversification 
E) unrelated diversification

Question 3

Which of the following are the two approaches that help answer the corporate-level question, 'What business(es)do we want to be in?'

Accepted Answer

A) general and specific strategies 
B) systems strategies and general inquiry 
C) corporate portfolio matrix and corporate-level strategies 
D) general strategies and corporate portfolio matrix 
E) corporate-level strategies and general strategies 
A) general and specific strategies 
B) systems strategies and general inquiry 
C) corporate portfolio matrix and corporate-level strategies 
D) general strategies and corporate portfolio matrix 
E) corporate-level strategies and general strategies

Question 4

In the strategic management process, Snowy Hydro statement that it intends: 'To deliver superior financial returns by being the preferred flexible supplier of energy and related products' is an example of what aspect?

Accepted Answer

A) statement of objectives 
B) mission 
C) fundamental objective 
D) goals 
E) strategy 
A) statement of objectives 
B) mission 
C) fundamental objective 
D) goals 
E) strategy

Question 5

A trucking company that grows by purchasing a chain of service stations is engaged in 'horizontal integration'.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is NOT an example of an organisation's mission?

Accepted Answer

A) We believe our first responsibility is to doctors, nurses and patients, to mothers, and all others who use our products and services (Johnson & Johnson). 
B) AMAX's principal products are molybdenum, coal, iron ore, copper, lead, zinc, petroleum and natural gas, potash, phosphates, nickel, tungsten, silver, gold and magnesium. 
C) We at Xeren want to increase market share by 10 per cent during the next fiscal year. 
D) We are dedicated to the total success of Corning Glass Works as a worldwide competitor. 
E) Hoover Universal is a diversified, multi-industry corporation with strong manufacturing capabilities, entrepreneurial policies and individual business unit autonomy. 
A) We believe our first responsibility is to doctors, nurses and patients, to mothers, and all others who use our products and services (Johnson & Johnson). 
B) AMAX's principal products are molybdenum, coal, iron ore, copper, lead, zinc, petroleum and natural gas, potash, phosphates, nickel, tungsten, silver, gold and magnesium. 
C) We at Xeren want to increase market share by 10 per cent during the next fiscal year. 
D) We are dedicated to the total success of Corning Glass Works as a worldwide competitor. 
E) Hoover Universal is a diversified, multi-industry corporation with strong manufacturing capabilities, entrepreneurial policies and individual business unit autonomy.

Question 7

In a short essay, list and discuss the six steps in the 'strategic management process'.

Accepted Answer

Step 1: Identifying the organisation's c

Question 8

If a bank estimates the capabilities of its training and development department employees prior to implementing a new training program designed to change their method of providing customer service, it is completing what step in the strategic management process?

Accepted Answer

A) identifying opportunities and threats 
B) identifying strengths and weaknesses 
C) analysing the organisation's resources 
D) threat analysis 
E) formulating strategy 
A) identifying opportunities and threats 
B) identifying strengths and weaknesses 
C) analysing the organisation's resources 
D) threat analysis 
E) formulating strategy

Question 9

Strategic management is important because it helps coordinate the activities in complex organisations.

Accepted Answer

A) True 
 B)False

Question 10

One method of implementing a growth strategy is by increasing production capacity.

Accepted Answer

A) True 
 B)False

Question 11

Evaluating employee skill level at each position is part of analysing the organisation's resources in the strategic management process.

Accepted Answer

A) True 
 B)False

Question 12

What is the ability to recognise major external environmental changes, to quickly commit resources and to recognise when a strategic decision is NOT working?

Accepted Answer

A) strategic flexibility 
B) strategic management 
C) competitive advantage 
D) an opportunity 
E) instinctive management 
A) strategic flexibility 
B) strategic management 
C) competitive advantage 
D) an opportunity 
E) instinctive management

Question 13

What is the final step in the strategic management process?

Accepted Answer

A) mission statement 
B) identifying opportunities and threats 
C) implementing strategies 
D) analysing the organisation's resources 
E) evaluating results 
A) mission statement 
B) identifying opportunities and threats 
C) implementing strategies 
D) analysing the organisation's resources 
E) evaluating results

Question 14

Managers in all kinds of organisations face increasingly intense global competition and high performance expectations by investors and customers.

Accepted Answer

A) True 
 B)False

Question 15

The Strategic Management Process
You finally made it.You were recently promoted to Executive Vice President in the corporate division.On the first day in your new position, the Chairperson said she was pleased at your new promotion and looked forward to hearing your presentation at next week's meeting concerning the new strategic management process you will be handling.You smiled, even though your stomach was churning.Unfortunately, this was the first you had heard about this meeting, and other than doing your small part in past planning efforts, you have little idea about how to design a strategic management process.You quickly grab your daughter's management textbook and read up on the topic.
-Refer to The Strategic Management Process (Scenario).You learn that the very first thing you should do in the strategic management process is ________.

Accepted Answer

A) analyse the environment 
B) identify organisational strengths and weaknesses 
C) analyse the organisation's resources 
D) formulate strategies 
E) identify the organisation's current mission, objectives and strategies 
A) analyse the environment 
B) identify organisational strengths and weaknesses 
C) analyse the organisation's resources 
D) formulate strategies 
E) identify the organisation's current mission, objectives and strategies

Question 16

Which of the following is associated with corporate-level strategies?

Accepted Answer

A) They are needed if your organisation is in more than one type of business. 
B) They answer, 'How should our business compete?' 
C) They represent a single business. 
D) They are a method of support for the business-level strategies. 
E) They determine the operations of a single business unit. 
A) They are needed if your organisation is in more than one type of business. 
B) They answer, 'How should our business compete?' 
C) They represent a single business. 
D) They are a method of support for the business-level strategies. 
E) They determine the operations of a single business unit.

Question 17

Strategic management uses the management function(s)________.

Accepted Answer

A) planning and leading 
B) organising 
C) controlling 
D) both A and B 
E) all of the above 
A) planning and leading 
B) organising 
C) controlling 
D) both A and B 
E) all of the above

Question 18

________ are the organisation's major value-creating skills, capabilities and resources that determine the organisation's competitive advantage.

Accepted Answer

A) Core competencies 
B) Opportunities 
C) Cash cows 
D) Stars 
E) Strengths 
A) Core competencies 
B) Opportunities 
C) Cash cows 
D) Stars 
E) Strengths

Question 19

Which of the following is one level of strategic planning in large companies?

Accepted Answer

A) management level 
B) financial level 
C) staff level 
D) corporate level 
E) systems level 
A) management level 
B) financial level 
C) staff level 
D) corporate level 
E) systems level

Question 20

According to the textbook, senior managers must decide whether or not the emphasis of their innovation efforts is going to be upon ________.

Accepted Answer

A) basic research 
B) product development 
C) process development 
D) both A and B 
E) A, B and C 
A) basic research 
B) product development 
C) process development 
D) both A and B 
E) A, B and C

Activities that an organisation does well or resources that it has available are called 'assets'.

Which of the following describes a company growing by combining with other organisations in the same industry?

Which of the following are the two approaches that help answer the corporate-level question, 'What business(es)do we want to be in?'

In the strategic management process, Snowy Hydro statement that it intends: 'To deliver superior financial returns by being the preferred flexible supplier of energy and related products' is an example of what aspect?

A trucking company that grows by purchasing a chain of service stations is engaged in 'horizontal integration'.

Which of the following is NOT an example of an organisation's mission?

In a short essay, list and discuss the six steps in the 'strategic management process'.

If a bank estimates the capabilities of its training and development department employees prior to implementing a new training program designed to change their method of providing customer service, it is completing what step in the strategic management process?

Strategic management is important because it helps coordinate the activities in complex organisations.

One method of implementing a growth strategy is by increasing production capacity.

Evaluating employee skill level at each position is part of analysing the organisation's resources in the strategic management process.

What is the ability to recognise major external environmental changes, to quickly commit resources and to recognise when a strategic decision is NOT working?

What is the final step in the strategic management process?

Managers in all kinds of organisations face increasingly intense global competition and high performance expectations by investors and customers.

Which of the following is associated with corporate-level strategies?

Strategic management uses the management function(s)________.

________ are the organisation's major value-creating skills, capabilities and resources that determine the organisation's competitive advantage.

Which of the following is one level of strategic planning in large companies?

According to the textbook, senior managers must decide whether or not the emphasis of their innovation efforts is going to be upon ________.

Managers in the Workplace

Management History

Managing the External Environment and Organisational Culture

Managing in a Global Environment

Social Responsibility and Managerial Ethics

Managers As Decision Makers

Managing Change and Innovation

Foundations of Planning

Managerial Controls

Managing Operations

Organisational Structure and Design

Managing Teams

Managing Human Resources

Understanding and Managing Individual Behaviour

Managers and Communication

Motivating Employees

Managers As Leaders

Filters

Exam 9: Strategic Management

Activities that an organisation does well or resources that it has available are called 'assets'.

Which of the following describes a company growing by combining with other organisations in the same industry?

Which of the following are the two approaches that help answer the corporate-level question, 'What business(es)do we want to be in?'

In the strategic management process, Snowy Hydro statement that it intends: 'To deliver superior financial returns by being the preferred flexible supplier of energy and related products' is an example of what aspect?

A trucking company that grows by purchasing a chain of service stations is engaged in 'horizontal integration'.

Which of the following is NOT an example of an organisation's mission?

In a short essay, list and discuss the six steps in the 'strategic management process'.

If a bank estimates the capabilities of its training and development department employees prior to implementing a new training program designed to change their method of providing customer service, it is completing what step in the strategic management process?

Strategic management is important because it helps coordinate the activities in complex organisations.

One method of implementing a growth strategy is by increasing production capacity.

Evaluating employee skill level at each position is part of analysing the organisation's resources in the strategic management process.

What is the ability to recognise major external environmental changes, to quickly commit resources and to recognise when a strategic decision is NOT working?

What is the final step in the strategic management process?

Managers in all kinds of organisations face increasingly intense global competition and high performance expectations by investors and customers.

Which of the following is associated with corporate-level strategies?

Strategic management uses the management function(s)________.

________ are the organisation's major value-creating skills, capabilities and resources that determine the organisation's competitive advantage.

Which of the following is one level of strategic planning in large companies?

According to the textbook, senior managers must decide whether or not the emphasis of their innovation efforts is going to be upon ________.

Managers in the Workplace

Management History

Managing the External Environment and Organisational Culture

Managing in a Global Environment

Social Responsibility and Managerial Ethics

Managers As Decision Makers

Managing Change and Innovation

Foundations of Planning

Managerial Controls

Managing Operations

Organisational Structure and Design

Managing Teams

Managing Human Resources

Understanding and Managing Individual Behaviour

Managers and Communication

Motivating Employees

Managers As Leaders

Filters