Question 1

Which of the following is an example of a firm's tangible resources?

Accepted Answer

A)  Reputation 
B)  Equipment 
C)  Human capital 
D)  The ability to create new technology faster than competitors 
A)  Reputation 
B)  Equipment 
C)  Human capital 
D)  The ability to create new technology faster than competitors

Question 2

Rubbermaid failed to consider that the cost of a raw material, resin, could not be passed along to their customers through increased costs. Sterlite, a major competitor, did not pass along the increase to their customers. As a result, Walmart replaced Rubbermaid's products with Sterlite's. This was an example of a failure to accurately assess the environmental data.

Accepted Answer

A) True 
 B)False

Question 3

When e-commerce companies recognized there were more women using the Internet than men, there were significant business implications since women do most of the household shopping. Which segment of the general environment does this represent?

Accepted Answer

A)  Demographic trends 
B)  Economic conditions 
C)  Globalization 
D)  Socio-cultural trends 
A)  Demographic trends 
B)  Economic conditions 
C)  Globalization 
D)  Socio-cultural trends

Question 4

A firm's strategic mission

Accepted Answer

A)  is internally focused. 
B)  flows from the firm's strategic intent. 
C)  indicates how the firm will use its resources. 
D)  is crafted without regard for the opportunities in the external environment. 
A)  is internally focused. 
B)  flows from the firm's strategic intent. 
C)  indicates how the firm will use its resources. 
D)  is crafted without regard for the opportunities in the external environment.

Question 5

How can human capital provide a core competence?

Accepted Answer

A)  Knowledge that resides in the minds of people is unique to the firm's employees. 
B)  Employees are willing to collaboratively use their talents to support the firm's mission. 
C)  The company's culture plays a key role in how well people work together to achieve the firm's objectives. 
D)  all of the above 
A)  Knowledge that resides in the minds of people is unique to the firm's employees. 
B)  Employees are willing to collaboratively use their talents to support the firm's mission. 
C)  The company's culture plays a key role in how well people work together to achieve the firm's objectives. 
D)  all of the above

Question 6

Discuss the four components of an external environmental analysis.

Accepted Answer

The four components of an external envir

Question 7

What is the recommendation by the BCG Matrix for a star?

Accepted Answer

A)  It should be divested as soon as possible. 
B)  It should be "milked" as much as possible with only limited additional resources devoted to it. 
C)  The firm should greatly invest in it to fuel additional growth. 
D)  Additional analysis is necessary to decide whether or not additional resources should be channeled its way. 
A)  It should be divested as soon as possible. 
B)  It should be "milked" as much as possible with only limited additional resources devoted to it. 
C)  The firm should greatly invest in it to fuel additional growth. 
D)  Additional analysis is necessary to decide whether or not additional resources should be channeled its way.

Question 8

Innovation contributes to a sustainable competitive advantage if

Accepted Answer

A)  it is difficult or costly for competitors to imitate. 
B)  customers can see a value in the innovation. 
C)  the firm is capable of commercializing the innovation. 
D)  all of the above 
A)  it is difficult or costly for competitors to imitate. 
B)  customers can see a value in the innovation. 
C)  the firm is capable of commercializing the innovation. 
D)  all of the above

Question 9

The changes that Mattel made in Barbie after the 1960s were in response to which component of the external environment?

Accepted Answer

A)  Demographic trends 
B)  Political/legal forces 
C)  Economic trends 
D)  Socio-cultural trends 
A)  Demographic trends 
B)  Political/legal forces 
C)  Economic trends 
D)  Socio-cultural trends

Question 10

Describe Porter's Five Forces model.

Accepted Answer

According to Porter, the five forces wit

Question 11

McDonald's was able to make progress in the French market by adapting its menu and the look of its restaurants after carefully analyzing which component of the external environment?

Accepted Answer

A)  Demographic trends 
B)  Political/legal forces 
C)  Economic trends 
D)  Socio-cultural trends 
A)  Demographic trends 
B)  Political/legal forces 
C)  Economic trends 
D)  Socio-cultural trends

Question 12

When Wrigley decided to focus almost exclusively on the chewing gum market and Seagram decided to enter the beverage market while also competing in the entertainment industry, both firm's were deciding their diversification strategies.

Accepted Answer

A) True 
 B)False

Question 13

Which type of diversification strategy tends to be less profitable as a result of corporate executives lacking sufficient knowledge to effectively manage disparate business units?

Accepted Answer

A)  Concentration strategy 
B)  Vertical integration strategy 
C)  Concentric diversification strategy 
D)  Conglomerate diversification strategy 
A)  Concentration strategy 
B)  Vertical integration strategy 
C)  Concentric diversification strategy 
D)  Conglomerate diversification strategy

Question 14

When the Justice Department sued Microsoft for a high-tech monopoly, which component of the external environment was being addressed?

Accepted Answer

A)  Demographic trends 
B)  Political/legal forces 
C)  Economic trends 
D)  Socio-cultural conditions 
A)  Demographic trends 
B)  Political/legal forces 
C)  Economic trends 
D)  Socio-cultural conditions

Question 15

What are the segments of the general environment? How are they related?

Accepted Answer

The general environment is comprised of

Question 16

Porter's value-chain analysis attempts to identify

Accepted Answer

A)  primary activities of the firm. 
B)  the competitive advantage of the firm. 
C)  support activities of the firm. 
D)  the value-added of each activity. 
A)  primary activities of the firm. 
B)  the competitive advantage of the firm. 
C)  support activities of the firm. 
D)  the value-added of each activity.

Question 17

What are some of the standard measures of strategic success evaluated in the final stage of the strategic management process?

Accepted Answer

Some of the standard measures of strateg

Question 18

Which of the following is not true of the SWOT analysis?

Accepted Answer

A)  SWOT stands for strengths, weaknesses, opportunities, and threats. 
B)  Strengths and weaknesses are found in the internal analysis of the firm. 
C)  The SWOT analysis tells the firm what strategies to pursue. 
D)  The objective is to analyze factors from both inside and outside the organization that may influence success. 
A)  SWOT stands for strengths, weaknesses, opportunities, and threats. 
B)  Strengths and weaknesses are found in the internal analysis of the firm. 
C)  The SWOT analysis tells the firm what strategies to pursue. 
D)  The objective is to analyze factors from both inside and outside the organization that may influence success.

Question 19

3M's ability to leverage its knowledge of adhesive and thin-film technology is an example of which strategic management viewpoint?

Accepted Answer

A)  Competitor analysis 
B)  Resource-based view 
C)  Functional analysis 
D)  Value-chain analysis 
A)  Competitor analysis 
B)  Resource-based view 
C)  Functional analysis 
D)  Value-chain analysis

Question 20

It is essential that the executive team assess the short-range outcomes as part of the strategic management process. The long-term outcomes need not be assessed since they are constantly changing and the plan adapts to them.

Accepted Answer

A) True 
 B)False

Which of the following is an example of a firm's tangible resources?

When e-commerce companies recognized there were more women using the Internet than men, there were significant business implications since women do most of the household shopping. Which segment of the general environment does this represent?

A firm's strategic mission

How can human capital provide a core competence?

Discuss the four components of an external environmental analysis.

What is the recommendation by the BCG Matrix for a star?

Innovation contributes to a sustainable competitive advantage if

The changes that Mattel made in Barbie after the 1960s were in response to which component of the external environment?

Describe Porter's Five Forces model.

McDonald's was able to make progress in the French market by adapting its menu and the look of its restaurants after carefully analyzing which component of the external environment?

When Wrigley decided to focus almost exclusively on the chewing gum market and Seagram decided to enter the beverage market while also competing in the entertainment industry, both firm's were deciding their diversification strategies.

Which type of diversification strategy tends to be less profitable as a result of corporate executives lacking sufficient knowledge to effectively manage disparate business units?

When the Justice Department sued Microsoft for a high-tech monopoly, which component of the external environment was being addressed?

What are the segments of the general environment? How are they related?

Porter's value-chain analysis attempts to identify

What are some of the standard measures of strategic success evaluated in the final stage of the strategic management process?

Which of the following is not true of the SWOT analysis?

3M's ability to leverage its knowledge of adhesive and thin-film technology is an example of which strategic management viewpoint?

It is essential that the executive team assess the short-range outcomes as part of the strategic management process. The long-term outcomes need not be assessed since they are constantly changing and the plan adapts to them.

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

Which of the following is an example of a firm's tangible resources?

When e-commerce companies recognized there were more women using the Internet than men, there were significant business implications since women do most of the household shopping. Which segment of the general environment does this represent?

A firm's strategic mission

How can human capital provide a core competence?

Discuss the four components of an external environmental analysis.

What is the recommendation by the BCG Matrix for a star?

Innovation contributes to a sustainable competitive advantage if

The changes that Mattel made in Barbie after the 1960s were in response to which component of the external environment?

Describe Porter's Five Forces model.

McDonald's was able to make progress in the French market by adapting its menu and the look of its restaurants after carefully analyzing which component of the external environment?

When Wrigley decided to focus almost exclusively on the chewing gum market and Seagram decided to enter the beverage market while also competing in the entertainment industry, both firm's were deciding their diversification strategies.

Which type of diversification strategy tends to be less profitable as a result of corporate executives lacking sufficient knowledge to effectively manage disparate business units?

When the Justice Department sued Microsoft for a high-tech monopoly, which component of the external environment was being addressed?

What are the segments of the general environment? How are they related?

Porter's value-chain analysis attempts to identify

What are some of the standard measures of strategic success evaluated in the final stage of the strategic management process?

Which of the following is not true of the SWOT analysis?

3M's ability to leverage its knowledge of adhesive and thin-film technology is an example of which strategic management viewpoint?

It is essential that the executive team assess the short-range outcomes as part of the strategic management process. The long-term outcomes need not be assessed since they are constantly changing and the plan adapts to them.

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