Question 1

The Internet has fueled rivalries among all kinds of companies.

Accepted Answer

A) True 
 B)False

Question 2

This question contains two parts; be sure to answer both.
First, list the three sources from which strategic position emerges, providing an example of a company with each strategic position. (You will be providing three examples.)
Second, select either McDonald's or Apple Computer and discuss the company's strategic position.

Accepted Answer

Strategic positioning attempts to achiev

Question 3

Many stores today have changed how customers shop. You can go online to buy your groceries, have a store clerk pick them out for you and then either drive up and pick them up or have them delivered. Besides groceries, you can do this with electronics, clothing, shoes, and even pharmaceuticals. How would you describe this change in business practices?

Accepted Answer

A)  strategic formulation 
B)  strategic implementation 
C)  strategic assessment 
D)  strategic culture 
E)  strategic neutrality 
A)  strategic formulation 
B)  strategic implementation 
C)  strategic assessment 
D)  strategic culture 
E)  strategic neutrality

Question 4

Delux Technologies makes and sells only one product, a high-quality processor for mainframe computers. Delux was recently approached by Imagination Station, a large computer manufacturer, about purchasing their company. Imagination Station is engaging in

Accepted Answer

A)  unrelated diversification. 
B)  focused-differentiation. 
C)  related diversification. 
D)  vertical integration. 
E)  differentiation. 
A)  unrelated diversification. 
B)  focused-differentiation. 
C)  related diversification. 
D)  vertical integration. 
E)  differentiation.

Question 5

The owners of Everything Outdoors, a family-owned garden center in a rural community, are concerned over the news that a large retailer with a garden center is building a new store on the other side of town. According to a SWOT analysis, this new retailer is a(n) ________ to Everything Outdoors.

Accepted Answer

A)  strength 
B)  threat 
C)  weakness 
D)  opportunity 
E)  intelligence 
A)  strength 
B)  threat 
C)  weakness 
D)  opportunity 
E)  intelligence

Question 6

A forecast is a(n)

Accepted Answer

A)  glimpse of what just happened. 
B)  execution of strategy and adjustments. 
C)  projection for the future. 
D)  analysis of the past. 
E)  plan for implementing strategic plans. 
A)  glimpse of what just happened. 
B)  execution of strategy and adjustments. 
C)  projection for the future. 
D)  analysis of the past. 
E)  plan for implementing strategic plans.

Question 7

Why is the feedback loop important?

Accepted Answer

A)  It translates lower-level plans. 
B)  It determines the organization's long-term goals for the next one to five years. 
C)  It looks at what is working and what could be different to maximize efficiency. 
D)  It monitors progress so that corrective action can take place. 
E)  It describe how the company contributes to the world. 
A)  It translates lower-level plans. 
B)  It determines the organization's long-term goals for the next one to five years. 
C)  It looks at what is working and what could be different to maximize efficiency. 
D)  It monitors progress so that corrective action can take place. 
E)  It describe how the company contributes to the world.

Question 8

Tito knows that one of the reasons people do not return to his electronics store is because of the slow service. How would a SWOT analysis classify the slow service at Tito's electronic store?

Accepted Answer

A)  as a strength 
B)  as a threat 
C)  as a weakness 
D)  as an opportunity 
E)  as intelligence 
A)  as a strength 
B)  as a threat 
C)  as a weakness 
D)  as an opportunity 
E)  as intelligence

Question 9

"Who are our customers? What are our major products or services? In what geographic areas do we compete?" A good ________ will answer these questions.

Accepted Answer

A)  vision statement 
B)  code of ethics 
C)  mission statement 
D)  value pact 
E)  management belief statement 
A)  vision statement 
B)  code of ethics 
C)  mission statement 
D)  value pact 
E)  management belief statement

Question 10

Ray is interested in rewriting the vision statement for his antique shops, and he wants his employees and his business to grow. Therefore, the vision for Ray's stores should be positive and inspiring, and it should stretch the company and his employees to achieve objectives that they believe are not possible.

Accepted Answer

A) True 
 B)False

Question 11

Grandma's Bakery wants to begin selling gluten-free products and vegan products. The C-Suite executives have made the decision and are now wanting the change implemented. Whose planning will move this from the decision level into production?

Accepted Answer

A)  senior-level managers 
B)  functional managers 
C)  acquisition managers 
D)  small-business managers 
E)  strategic managers 
A)  senior-level managers 
B)  functional managers 
C)  acquisition managers 
D)  small-business managers 
E)  strategic managers

Question 12

Contingency planning is also known as

Accepted Answer

A)  organizational opportunities. 
B)  scenario goal-setting and plans. 
C)  a trend analysis. 
D)  scenario planning and scenario analysis. 
E)  strategic planning. 
A)  organizational opportunities. 
B)  scenario goal-setting and plans. 
C)  a trend analysis. 
D)  scenario planning and scenario analysis. 
E)  strategic planning.

Question 13

In the BCG matrix, ________ are organizations that have slow growth but high market share, with income that often finances stars and question marks.

Accepted Answer

A)  sleeping giants 
B)  dogs 
C)  cash cows 
D)  turtles 
E)  sleepers 
A)  sleeping giants 
B)  dogs 
C)  cash cows 
D)  turtles 
E)  sleepers

Question 14

Organizational opportunities in a SWOT analysis are

Accepted Answer

A)  environmental factors that the organization may exploit for a competitive advantage. 
B)  weaknesses within the organizational hierarchy. 
C)  MBO skills and opportunities that should be emphasized. 
D)  skills and capabilities that give an industry advantages in executing its strategies. 
E)  problems that a specific industry needs to correct. 
A)  environmental factors that the organization may exploit for a competitive advantage. 
B)  weaknesses within the organizational hierarchy. 
C)  MBO skills and opportunities that should be emphasized. 
D)  skills and capabilities that give an industry advantages in executing its strategies. 
E)  problems that a specific industry needs to correct.

Question 15

This question contains multiple parts; be sure to answer all of them.
First, define and explain strategic control.
Next, summarize Bryan Barry's suggestions for keeping strategic planning on track.
Finally, suppose you are the owner of a dog-walking service with eight dog-walkers on staff. Explain how you would implement each of Barry's suggestions.

Accepted Answer

Strategic control consists of monitoring

Question 16

Imagine that you are the CEO of Smiley's, a chain of family-style restaurants. You are interested in implementing the strategic-management process in your restaurants. Discuss the strategic-management process and explain how you would execute each of the steps and the feedback loop of the strategic-management process in your restaurant chain.

Accepted Answer

The strategic-management process involve

Question 17

Ski Safety sells emergency safety and rescue products to ski patrols and rescue workers at prices that are below those of its competitors, which offer a larger line of more expensive products and focus on broader markets. Ski Safety is pursuing a ________ strategy.

Accepted Answer

A)  cost-focus 
B)  cost-leadership 
C)  differentiation 
D)  narrow 
E)  focused-differentiation 
A)  cost-focus 
B)  cost-leadership 
C)  differentiation 
D)  narrow 
E)  focused-differentiation

Question 18

Chris and his family have developed a successful business selling a liquid spray fertilizer to farmers. The fertilizer consists of rich, organic, composted material. Recently, Organic Seed, a national seed company, has been marketing a powdered chemical fertilizer to its customers; Organic's fertilizer is less expensive than Chris's product. Organic's efforts are an example of the ________ in Porter's model for industry analysis.

Accepted Answer

A)  buyers' negotiating influence 
B)  rivalry among competitors 
C)  threats of substitute products and services 
D)  power of the suppliers 
E)  threats of new ideas 
A)  buyers' negotiating influence 
B)  rivalry among competitors 
C)  threats of substitute products and services 
D)  power of the suppliers 
E)  threats of new ideas

Question 19

Over the course of 40 years, Frank grew his company to six package shipping stores. With his retirement approaching and the increased competition, he decided to reduce the number of locations to two. Frank's reduction of effort represents a

Accepted Answer

A)  merger approach. 
B)  fixed plan. 
C)  defensive strategy. 
D)  growth strategy. 
E)  stability strategy. 
A)  merger approach. 
B)  fixed plan. 
C)  defensive strategy. 
D)  growth strategy. 
E)  stability strategy.

Question 20

Michael Porter proposed that business-level strategies originate with the primary competitive forces in the firm's environment; these forces are the

Accepted Answer

A)  threats of new entrants and the bargaining power of buyers and suppliers. 
B)  threats of substitute products and the services and competitive rivalries. 
C)  threats of new entrants and substitute products or services, the bargaining power of suppliers and buyers, and competitive rivalries. 
D)  threats of government paperwork and tax increases, the bargaining power of suppliers, and competitive rivalries. 
E)  bargaining power of suppliers. 
A)  threats of new entrants and the bargaining power of buyers and suppliers. 
B)  threats of substitute products and the services and competitive rivalries. 
C)  threats of new entrants and substitute products or services, the bargaining power of suppliers and buyers, and competitive rivalries. 
D)  threats of government paperwork and tax increases, the bargaining power of suppliers, and competitive rivalries. 
E)  bargaining power of suppliers.

The Internet has fueled rivalries among all kinds of companies.

Delux Technologies makes and sells only one product, a high-quality processor for mainframe computers. Delux was recently approached by Imagination Station, a large computer manufacturer, about purchasing their company. Imagination Station is engaging in

The owners of Everything Outdoors, a family-owned garden center in a rural community, are concerned over the news that a large retailer with a garden center is building a new store on the other side of town. According to a SWOT analysis, this new retailer is a(n) ________ to Everything Outdoors.

A forecast is a(n)

Why is the feedback loop important?

Tito knows that one of the reasons people do not return to his electronics store is because of the slow service. How would a SWOT analysis classify the slow service at Tito's electronic store?

"Who are our customers? What are our major products or services? In what geographic areas do we compete?" A good ________ will answer these questions.

Grandma's Bakery wants to begin selling gluten-free products and vegan products. The C-Suite executives have made the decision and are now wanting the change implemented. Whose planning will move this from the decision level into production?

Contingency planning is also known as

In the BCG matrix, ________ are organizations that have slow growth but high market share, with income that often finances stars and question marks.

Organizational opportunities in a SWOT analysis are

Ski Safety sells emergency safety and rescue products to ski patrols and rescue workers at prices that are below those of its competitors, which offer a larger line of more expensive products and focus on broader markets. Ski Safety is pursuing a ________ strategy.

Over the course of 40 years, Frank grew his company to six package shipping stores. With his retirement approaching and the increased competition, he decided to reduce the number of locations to two. Frank's reduction of effort represents a

Michael Porter proposed that business-level strategies originate with the primary competitive forces in the firm's environment; these forces are the

The Exceptional Manager: What You Do, How You Do It

Management Theory: Essential Background for the Successful Manager

The Managers Changing Work Environment and Ethical Responsibilities: Doing the Right Thing

Global Management Managing Across Borders

Planning: the Foundation of Successful Management

Individual and Group Decision Making: How Managers Make Things Happen

Organizational Culture, Structure, and Design: Building Blocks of the Organization

Human Resource Management: Getting the Right People

Organizational Change and Innovation: Lifelong Challenges

Managing Individual Differences and Behaviour: Supervising People As People

Motivating Employees: Achieving Superior Performance in the Workplace

Groups and Teams: Increasing Cooperation, Reducing Conflict

Power, Influence, and Leadership: From Becoming a Manager to Becoming a Leader

Interpersonal and Organizational Communication: Mastering the Exchange of Information

Control Systems and Quality Management: Techniques for Enhancing Organizational Effectiveness

Entrepreneurship

Filters

Exam 6: Strategic Management: How Exceptional Managers Realize a Grand Design

The Internet has fueled rivalries among all kinds of companies.

Delux Technologies makes and sells only one product, a high-quality processor for mainframe computers. Delux was recently approached by Imagination Station, a large computer manufacturer, about purchasing their company. Imagination Station is engaging in

The owners of Everything Outdoors, a family-owned garden center in a rural community, are concerned over the news that a large retailer with a garden center is building a new store on the other side of town. According to a SWOT analysis, this new retailer is a(n) ________ to Everything Outdoors.

A forecast is a(n)

Why is the feedback loop important?

Tito knows that one of the reasons people do not return to his electronics store is because of the slow service. How would a SWOT analysis classify the slow service at Tito's electronic store?

"Who are our customers? What are our major products or services? In what geographic areas do we compete?" A good ________ will answer these questions.

Grandma's Bakery wants to begin selling gluten-free products and vegan products. The C-Suite executives have made the decision and are now wanting the change implemented. Whose planning will move this from the decision level into production?

Contingency planning is also known as

In the BCG matrix, ________ are organizations that have slow growth but high market share, with income that often finances stars and question marks.

Organizational opportunities in a SWOT analysis are

Ski Safety sells emergency safety and rescue products to ski patrols and rescue workers at prices that are below those of its competitors, which offer a larger line of more expensive products and focus on broader markets. Ski Safety is pursuing a ________ strategy.

Over the course of 40 years, Frank grew his company to six package shipping stores. With his retirement approaching and the increased competition, he decided to reduce the number of locations to two. Frank's reduction of effort represents a

Michael Porter proposed that business-level strategies originate with the primary competitive forces in the firm's environment; these forces are the

The Exceptional Manager: What You Do, How You Do It

Management Theory: Essential Background for the Successful Manager

The Managers Changing Work Environment and Ethical Responsibilities: Doing the Right Thing

Global Management Managing Across Borders

Planning: the Foundation of Successful Management

Individual and Group Decision Making: How Managers Make Things Happen

Organizational Culture, Structure, and Design: Building Blocks of the Organization

Human Resource Management: Getting the Right People

Organizational Change and Innovation: Lifelong Challenges

Managing Individual Differences and Behaviour: Supervising People As People

Motivating Employees: Achieving Superior Performance in the Workplace

Groups and Teams: Increasing Cooperation, Reducing Conflict

Power, Influence, and Leadership: From Becoming a Manager to Becoming a Leader

Interpersonal and Organizational Communication: Mastering the Exchange of Information

Control Systems and Quality Management: Techniques for Enhancing Organizational Effectiveness

Entrepreneurship

Filters