Question 1

Which of the following is an advantage of the differentiation strategy?

Accepted Answer

A)  Improved efficiency of equipment 
B)  Cheaper new products 
C)  Higher level of employee skills 
D)  Reduced turnover of employees 
E)  Greater barriers to entry 
A)  Improved efficiency of equipment 
B)  Cheaper new products 
C)  Higher level of employee skills 
D)  Reduced turnover of employees 
E)  Greater barriers to entry

Question 2

In a strategic alliance,managers share their organization's resources and know-how with those of a foreign company,and the two organizations share the rewards or risks of starting a new venture in a foreign country.

Accepted Answer

A) True 
 B)False

Question 3

Arrow Corp.attempts to gain a competitive advantage by driving down its production costs per unit below those of its competitors.Which of the following strategies is Arrow pursuing?

Accepted Answer

A)  Focused differentiation strategy 
B)  Low-cost strategy 
C)  Related diversification strategy 
D)  Unrelated diversification strategy 
E)  Concentration on a single business strategy 
A)  Focused differentiation strategy 
B)  Low-cost strategy 
C)  Related diversification strategy 
D)  Unrelated diversification strategy 
E)  Concentration on a single business strategy

Question 4

The plan for implementing a new strategy requires the development of new functional strategies.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following modes of international expansion gives an organization high potential return because the organization does not have to share its profits with a foreign organization,and it reduces the level of risk because the organization's managers have full control over all aspects of their foreign company's operations?

Accepted Answer

A)  Joint venture 
B)  Franchising 
C)  Exporting 
D)  Licensing 
E)  Wholly owned foreign subsidiary 
A)  Joint venture 
B)  Franchising 
C)  Exporting 
D)  Licensing 
E)  Wholly owned foreign subsidiary

Question 6

Managers pursuing a focused differentiation strategy serve just one or a few segments of the market and aim to make their organization the most differentiated company serving that segment.

Accepted Answer

A) True 
 B)False

Question 7

Procter & Gamble uses a joint sales force to sell both its laundry detergent products and its bath soap products to the same supermarket chains.This is an example of which of the following strategies?

Accepted Answer

A)  Focused differentiation strategy 
B)  Low-cost strategy 
C)  Differentiation strategy 
D)  Synergy 
E)  Unrelated diversification strategy 
A)  Focused differentiation strategy 
B)  Low-cost strategy 
C)  Differentiation strategy 
D)  Synergy 
E)  Unrelated diversification strategy

Question 8

Medien Corporation decides to enter a new type of business in order to create a competitive advantage in one of its existing businesses.Which of the following strategies is Medien pursuing?

Accepted Answer

A)  Concentration on a single business 
B)  Related diversification 
C)  Vertical integration 
D)  International expansion 
E)  Differentiation 
A)  Concentration on a single business 
B)  Related diversification 
C)  Vertical integration 
D)  International expansion 
E)  Differentiation

Question 9

When General Electric Company expanded its operations by acquiring NBC television,which of the following strategies did it pursue?

Accepted Answer

A)  Vertical integration 
B)  Diversification 
C)  Market penetration 
D)  Low-cost strategy 
E)  Product development 
A)  Vertical integration 
B)  Diversification 
C)  Market penetration 
D)  Low-cost strategy 
E)  Product development

Question 10

Single-use plans are useful in situations that involve programmed decisions in an organization.

Accepted Answer

A) True 
 B)False

Question 11

While conducting a SWOT analysis,"slower market growth" would be categorized under which of the following?

Accepted Answer

A)  Strength 
B)  Weakness 
C)  Opportunity 
D)  Threat 
E)  Alternative 
A)  Strength 
B)  Weakness 
C)  Opportunity 
D)  Threat 
E)  Alternative

Question 12

_____ means that planning is an ongoing process in which managers build and refine previous plans and continually modify plans at all levels; corporate,business,and functional,so that they fit together into one broad framework.

Accepted Answer

A)  Continuity 
B)  Flexibility 
C)  Accuracy 
D)  Unity 
E)  Synergy 
A)  Continuity 
B)  Flexibility 
C)  Accuracy 
D)  Unity 
E)  Synergy

Question 13

A good plan specifies not only which goals and strategies an organization is committed to but is also accountable for putting the strategies into action to attain the goals.

Accepted Answer

A) True 
 B)False

Question 14

When Electrix Ltd.sells its TVs and VCRs using the same basic marketing approach in various countries,it is pursuing which of the following strategies?

Accepted Answer

A)  Multidomestic strategy 
B)  Focused low-cost strategy 
C)  Global strategy 
D)  Vertical integration 
E)  Differentiation strategy 
A)  Multidomestic strategy 
B)  Focused low-cost strategy 
C)  Global strategy 
D)  Vertical integration 
E)  Differentiation strategy

Question 15

The corporate-level plan outlines the specific methods a division,business unit,or organization will use to compete effectively against its rivals in an industry.

Accepted Answer

A) True 
 B)False

Question 16

The divisions of an organization exist at the functional level of the organization.

Accepted Answer

A) True 
 B)False

Question 17

Planning takes place at the corporate level and the business level of an organization,but not at the functional level of an organization.

Accepted Answer

A) True 
 B)False

Question 18

Organizational goals should be both challenging and realistic.

Accepted Answer

A) True 
 B)False

Question 19

Managers at Dimensions,Inc.,analyze the current situation of their organization and then develop plans to help their organization accomplish its mission and achieve its goals.This is known as:

Accepted Answer

A)  synergy planning. 
B)  strategy formulation. 
C)  functional planning. 
D)  SWOT analysis. 
E)  diversification. 
A)  synergy planning. 
B)  strategy formulation. 
C)  functional planning. 
D)  SWOT analysis. 
E)  diversification.

Question 20

Organizations that use a global strategy typically customize the product to meet the needs of customers in different countries.

Accepted Answer

A) True 
 B)False

Which of the following is an advantage of the differentiation strategy?

In a strategic alliance,managers share their organization's resources and know-how with those of a foreign company,and the two organizations share the rewards or risks of starting a new venture in a foreign country.

Arrow Corp.attempts to gain a competitive advantage by driving down its production costs per unit below those of its competitors.Which of the following strategies is Arrow pursuing?

The plan for implementing a new strategy requires the development of new functional strategies.

Managers pursuing a focused differentiation strategy serve just one or a few segments of the market and aim to make their organization the most differentiated company serving that segment.

Procter & Gamble uses a joint sales force to sell both its laundry detergent products and its bath soap products to the same supermarket chains.This is an example of which of the following strategies?

Medien Corporation decides to enter a new type of business in order to create a competitive advantage in one of its existing businesses.Which of the following strategies is Medien pursuing?

When General Electric Company expanded its operations by acquiring NBC television,which of the following strategies did it pursue?

Single-use plans are useful in situations that involve programmed decisions in an organization.

While conducting a SWOT analysis,"slower market growth" would be categorized under which of the following?

_____ means that planning is an ongoing process in which managers build and refine previous plans and continually modify plans at all levels; corporate,business,and functional,so that they fit together into one broad framework.

A good plan specifies not only which goals and strategies an organization is committed to but is also accountable for putting the strategies into action to attain the goals.

When Electrix Ltd.sells its TVs and VCRs using the same basic marketing approach in various countries,it is pursuing which of the following strategies?

The corporate-level plan outlines the specific methods a division,business unit,or organization will use to compete effectively against its rivals in an industry.

The divisions of an organization exist at the functional level of the organization.

Planning takes place at the corporate level and the business level of an organization,but not at the functional level of an organization.

Organizational goals should be both challenging and realistic.

Managers at Dimensions,Inc.,analyze the current situation of their organization and then develop plans to help their organization accomplish its mission and achieve its goals.This is known as:

Organizations that use a global strategy typically customize the product to meet the needs of customers in different countries.

The Management Process Today

Values, Attitudes, Emotions, and Culture: The Manager As a Person

Managing Ethics and Diversity

Managing in the Global Environment

Decision Making, Learning, Creativity, and Entrepreneurship

Designing Organizational Structure

Control, Change, and Entrepreneurship

Motivation

Leaders and Leadership

Effective Team Management

Building and Managing Human Resources

Communication and Information Technology Management

Operations Management: Managing Vital Operations and Processes

Filters

Exam 6: Planning, Strategy, and Competitive Advantage

Which of the following is an advantage of the differentiation strategy?

In a strategic alliance,managers share their organization's resources and know-how with those of a foreign company,and the two organizations share the rewards or risks of starting a new venture in a foreign country.

Arrow Corp.attempts to gain a competitive advantage by driving down its production costs per unit below those of its competitors.Which of the following strategies is Arrow pursuing?

The plan for implementing a new strategy requires the development of new functional strategies.

Managers pursuing a focused differentiation strategy serve just one or a few segments of the market and aim to make their organization the most differentiated company serving that segment.

Procter & Gamble uses a joint sales force to sell both its laundry detergent products and its bath soap products to the same supermarket chains.This is an example of which of the following strategies?

Medien Corporation decides to enter a new type of business in order to create a competitive advantage in one of its existing businesses.Which of the following strategies is Medien pursuing?

When General Electric Company expanded its operations by acquiring NBC television,which of the following strategies did it pursue?

Single-use plans are useful in situations that involve programmed decisions in an organization.

While conducting a SWOT analysis,"slower market growth" would be categorized under which of the following?

_____ means that planning is an ongoing process in which managers build and refine previous plans and continually modify plans at all levels; corporate,business,and functional,so that they fit together into one broad framework.

A good plan specifies not only which goals and strategies an organization is committed to but is also accountable for putting the strategies into action to attain the goals.

When Electrix Ltd.sells its TVs and VCRs using the same basic marketing approach in various countries,it is pursuing which of the following strategies?

The corporate-level plan outlines the specific methods a division,business unit,or organization will use to compete effectively against its rivals in an industry.

The divisions of an organization exist at the functional level of the organization.

Planning takes place at the corporate level and the business level of an organization,but not at the functional level of an organization.

Organizational goals should be both challenging and realistic.

Managers at Dimensions,Inc.,analyze the current situation of their organization and then develop plans to help their organization accomplish its mission and achieve its goals.This is known as:

Organizations that use a global strategy typically customize the product to meet the needs of customers in different countries.

The Management Process Today

Values, Attitudes, Emotions, and Culture: The Manager As a Person

Managing Ethics and Diversity

Managing in the Global Environment

Decision Making, Learning, Creativity, and Entrepreneurship

Designing Organizational Structure

Control, Change, and Entrepreneurship

Motivation

Leaders and Leadership

Effective Team Management

Building and Managing Human Resources

Communication and Information Technology Management

Operations Management: Managing Vital Operations and Processes

Filters