Question 1

Strategic competitiveness can be attained only when the firm's selected structure is congruent with its formulated strategy.

Accepted Answer

A) True 
 B)False  True

Question 2

The firm's internally focused definition of what it plans to produce and market is the strategic mission while the firm's externally focused definition of how the firm intends to use its resources is the strategic intent.

Accepted Answer

A) True 
 B)False  False

Question 3

The ultimate criterion when studying strategic outcomes should be the firm's

Accepted Answer

A)  long-term success. 
B)  profits. 
C)  growth of market share. 
D)  growth of company assets. 
A)  long-term success. 
B)  profits. 
C)  growth of market share. 
D)  growth of company assets. A

Question 4

In the strategic implementation phase of the strategic management process, top executives are responsible for

Accepted Answer

A)  charting general implementation plans. 
B)  making key resource allocation decisions. 
C)  delegating day-to-day operations. 
D)  all of the above 
A)  charting general implementation plans. 
B)  making key resource allocation decisions. 
C)  delegating day-to-day operations. 
D)  all of the above

Question 5

The Widget Company has a dependence on a supplier, the Acme Company. This dependence increases if

Accepted Answer

A)  the Widget Company has few other sources of supply. 
B)  the Acme Company has many other buyers. 
C)  the cost for the Widget Company to suppliers is high. 
D)  all of the above 
A)  the Widget Company has few other sources of supply. 
B)  the Acme Company has many other buyers. 
C)  the cost for the Widget Company to suppliers is high. 
D)  all of the above

Question 6

In examining the firm's capabilities, company leaders may choose functional analysis, value-chain analysis, or five forces analysis.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following statements is true of globalization?

Accepted Answer

A)  Firms are becoming less dependent on foreign markets for raw materials. 
B)  It is difficult to define what is "domestic" and what is "foreign." 
C)  Borderless strategic alliances are less common with more fierce international competition today. 
D)  Firms are becoming less dependent on foreign markets for the sale of products and services. 
A)  Firms are becoming less dependent on foreign markets for raw materials. 
B)  It is difficult to define what is "domestic" and what is "foreign." 
C)  Borderless strategic alliances are less common with more fierce international competition today. 
D)  Firms are becoming less dependent on foreign markets for the sale of products and services.

Question 8

According to Michael Porter's framework, which of the following is not one of the five forces within an industry?

Accepted Answer

A)  The threat of new entrants 
B)  Technology 
C)  Intensity of rivalry 
D)  Customers 
A)  The threat of new entrants 
B)  Technology 
C)  Intensity of rivalry 
D)  Customers

Question 9

Observing environmental changes on a continuous basis to determine whether a clear trend is emerging is

Accepted Answer

A)  assessing. 
B)  scanning. 
C)  monitoring. 
D)  forecasting. 
A)  assessing. 
B)  scanning. 
C)  monitoring. 
D)  forecasting.

Question 10

Maytag's focus on product reliability suggests the firm has chosen a

Accepted Answer

A)  low cost strategy. 
B)  portfolio strategy. 
C)  corporate-level strategy. 
D)  differentiation strategy. 
A)  low cost strategy. 
B)  portfolio strategy. 
C)  corporate-level strategy. 
D)  differentiation strategy.

Question 11

The firm's overall plan concerning the number of businesses it holds, the variety of markets or industries it serves, and the distribution of resources among those businesses is referred to as the

Accepted Answer

A)  diversification strategy. 
B)  functional strategy. 
C)  corporate-level strategy. 
D)  business-level strategy. 
A)  diversification strategy. 
B)  functional strategy. 
C)  corporate-level strategy. 
D)  business-level strategy.

Question 12

Which of the following is not an intangible resource of a firm?

Accepted Answer

A)  Human capital 
B)  Capital 
C)  Technology 
D)  Reputation 
A)  Human capital 
B)  Capital 
C)  Technology 
D)  Reputation

Question 13

Which strategic management approach is being used when Sears assesses its customer service capabilities by comparing its activities with those of Disney and Nordstrom's?

Accepted Answer

A)  Value-chain analysis 
B)  Functional analysis 
C)  Benchmarking 
D)  Five forces analysis 
A)  Value-chain analysis 
B)  Functional analysis 
C)  Benchmarking 
D)  Five forces analysis

Question 14

What are the four types of diversification?

Accepted Answer

The four major types of divers

Question 15

Which of the following is not true of strategic intent?

Accepted Answer

A)  Strategic intent indicates how the firm will use its resources. 
B)  Strategic intent flows from the firm's mission. 
C)  Strategic intent is internally focused. 
D)  all of the above 
A)  Strategic intent indicates how the firm will use its resources. 
B)  Strategic intent flows from the firm's mission. 
C)  Strategic intent is internally focused. 
D)  all of the above

Question 16

The extent to which the value created by a particular activity is greater than the cost incurred to create that value is referred to as

Accepted Answer

A)  margin. 
B)  competitive advantage. 
C)  the value chain. 
D)  human capital. 
A)  margin. 
B)  competitive advantage. 
C)  the value chain. 
D)  human capital.

Question 17

The final step of the strategic management process is

Accepted Answer

A)  formulation of the strategy. 
B)  implementation of the strategy. 
C)  analysis of the strategic outcomes. 
D)  formulation of the firm's strategic intent and mission. 
A)  formulation of the strategy. 
B)  implementation of the strategy. 
C)  analysis of the strategic outcomes. 
D)  formulation of the firm's strategic intent and mission.

Question 18

What are the components of the strategic management process?

Accepted Answer

The components of the strategic manageme

Question 19

Which of the following represents a strategic group in the automobile industry?

Accepted Answer

A)  Mercedes, BMW, and Ford 
B)  Chevrolet, Toyota, and Ford 
C)  Rolls Royce, Chevrolet, and Toyota 
D)  BMW, Rolls Royce, and Toyota 
A)  Mercedes, BMW, and Ford 
B)  Chevrolet, Toyota, and Ford 
C)  Rolls Royce, Chevrolet, and Toyota 
D)  BMW, Rolls Royce, and Toyota

Question 20

By 2020, it is estimated that what percent of the population will be 50 and older?

Accepted Answer

A)  15 
B)  35 
C)  50 
D)  70 
A)  15 
B)  35 
C)  50 
D)  70

Strategic competitiveness can be attained only when the firm's selected structure is congruent with its formulated strategy.

The firm's internally focused definition of what it plans to produce and market is the strategic mission while the firm's externally focused definition of how the firm intends to use its resources is the strategic intent.

The ultimate criterion when studying strategic outcomes should be the firm's

In the strategic implementation phase of the strategic management process, top executives are responsible for

The Widget Company has a dependence on a supplier, the Acme Company. This dependence increases if

In examining the firm's capabilities, company leaders may choose functional analysis, value-chain analysis, or five forces analysis.

Which of the following statements is true of globalization?

According to Michael Porter's framework, which of the following is not one of the five forces within an industry?

Observing environmental changes on a continuous basis to determine whether a clear trend is emerging is

Maytag's focus on product reliability suggests the firm has chosen a

The firm's overall plan concerning the number of businesses it holds, the variety of markets or industries it serves, and the distribution of resources among those businesses is referred to as the

Which of the following is not an intangible resource of a firm?

Which strategic management approach is being used when Sears assesses its customer service capabilities by comparing its activities with those of Disney and Nordstrom's?

What are the four types of diversification?

Which of the following is not true of strategic intent?

The extent to which the value created by a particular activity is greater than the cost incurred to create that value is referred to as

The final step of the strategic management process is

What are the components of the strategic management process?

Which of the following represents a strategic group in the automobile industry?

By 2020, it is estimated that what percent of the population will be 50 and older?

Management and Its Evolution

The Culture of Management

Managing Social Responsibility and Ethics

Managing Organizational Culture and Change

Managing the Planning Process

Decision Making

Entrepreneurship and Innovation

Managing the Structure and Design of Organizations

Human Resource Management

Managing Employee Diversity

Leadership in Management

Managing Teams

Managing Communication

Operation and Information System Management

Filters

Exam 7: Strategic Management

Strategic competitiveness can be attained only when the firm's selected structure is congruent with its formulated strategy.

The firm's internally focused definition of what it plans to produce and market is the strategic mission while the firm's externally focused definition of how the firm intends to use its resources is the strategic intent.

The ultimate criterion when studying strategic outcomes should be the firm's

In the strategic implementation phase of the strategic management process, top executives are responsible for

The Widget Company has a dependence on a supplier, the Acme Company. This dependence increases if

In examining the firm's capabilities, company leaders may choose functional analysis, value-chain analysis, or five forces analysis.

Which of the following statements is true of globalization?

According to Michael Porter's framework, which of the following is not one of the five forces within an industry?

Observing environmental changes on a continuous basis to determine whether a clear trend is emerging is

Maytag's focus on product reliability suggests the firm has chosen a

The firm's overall plan concerning the number of businesses it holds, the variety of markets or industries it serves, and the distribution of resources among those businesses is referred to as the

Which of the following is not an intangible resource of a firm?

Which strategic management approach is being used when Sears assesses its customer service capabilities by comparing its activities with those of Disney and Nordstrom's?

What are the four types of diversification?

Which of the following is not true of strategic intent?

The extent to which the value created by a particular activity is greater than the cost incurred to create that value is referred to as

The final step of the strategic management process is

What are the components of the strategic management process?

Which of the following represents a strategic group in the automobile industry?

By 2020, it is estimated that what percent of the population will be 50 and older?

Management and Its Evolution

The Culture of Management

Managing Social Responsibility and Ethics

Managing Organizational Culture and Change

Managing the Planning Process

Decision Making

Entrepreneurship and Innovation

Managing the Structure and Design of Organizations

Human Resource Management

Managing Employee Diversity

Leadership in Management

Managing Teams

Managing Communication

Operation and Information System Management

Filters