Question 1

What is the difference between tangible and intangible resources? Give an example of each.

Accepted Answer

Tangible resources can be observed and q

Question 2

Polaroid erected a barrier to entry that kept Kodak from entering the industry with their patent.

Accepted Answer

A) True 
 B)False

Question 3

A firm's strategic plan to create and manage a mix of businesses owned by the firm is a

Accepted Answer

A)  BCG Matrix. 
B)  diversification strategy. 
C)  business-unit strategy. 
D)  functional-unit strategy. 
A)  BCG Matrix. 
B)  diversification strategy. 
C)  business-unit strategy. 
D)  functional-unit strategy.

Question 4

The McKinsey-General Electric Portfolio Analysis Matrix and the Boston Consulting Group's Growth-Share Matrix are techniques of

Accepted Answer

A)  portfolio analysis. 
B)  five-forces analysis. 
C)  business-level strategy. 
D)  value-chain analysis. 
A)  portfolio analysis. 
B)  five-forces analysis. 
C)  business-level strategy. 
D)  value-chain analysis.

Question 5

Strategic outcomes refer to the intended results of the strategic plan.

Accepted Answer

A) True 
 B)False

Question 6

When the Acme Company delayed its investment in new information technology based on predictions of what was likely to happen in the future, the intensity of the anticipated event, its importance to the firm, and the time frame in which it was expected to occur, the firm was engaged in which component of the external environment?

Accepted Answer

A)  Assessing 
B)  Scanning 
C)  Monitoring 
D)  Forecasting 
A)  Assessing 
B)  Scanning 
C)  Monitoring 
D)  Forecasting

Question 7

When companies decide how to compete in a market segment, they are formulating

Accepted Answer

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

Question 8

The strategic management viewpoint that bases business strategy on what the firm is capable of doing, providing a more sustainable competitive advantage than basing it on external opportunities, is the

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 9

What is a cooperative strategy? What purposes do they serve?

Accepted Answer

A cooperative strategy involves establis

Question 10

Which of the following is not included in the strategic management process?

Accepted Answer

A)  Analysis of the internal and external environment of the firm 
B)  Formulation of the firm's code of ethics 
C)  Definition of the firm's mission 
D)  Implementation of strategies to create a competitive advantage 
A)  Analysis of the internal and external environment of the firm 
B)  Formulation of the firm's code of ethics 
C)  Definition of the firm's mission 
D)  Implementation of strategies to create a competitive advantage

Question 11

For a strategy to be successful, a firm must be flexible and make changes to the plan based on experience. Strategic management requires adaptation to changing conditions.

Accepted Answer

A) True 
 B)False

Question 12

What is the SWOT analysis?

Accepted Answer

The SWOT analysis is a strategic managem

Question 13

Strategic intent and mission

Accepted Answer

A)  can restrict how managers view the environment. 
B)  can easily be changed in search of new opportunities in the environment. 
C)  seldom become incongruent with the firm's environment. 
D)  are the result of the SWOT analysis. 
A)  can restrict how managers view the environment. 
B)  can easily be changed in search of new opportunities in the environment. 
C)  seldom become incongruent with the firm's environment. 
D)  are the result of the SWOT analysis.

Question 14

Partners in strategic alliances can

Accepted Answer

A)  learn from each other. 
B)  pool resources for risky projects. 
C)  speed up entry into new markets. 
D)  all of the above 
A)  learn from each other. 
B)  pool resources for risky projects. 
C)  speed up entry into new markets. 
D)  all of the above

Question 15

The erosion of CD sales and the increase in music downloads reflects which of Porter's five forces in the industry?

Accepted Answer

A)  Suppliers 
B)  Threat of new entrants 
C)  Threat of substitutes 
D)  Intensity of rivalry 
A)  Suppliers 
B)  Threat of new entrants 
C)  Threat of substitutes 
D)  Intensity of rivalry

Question 16

When Procter and Gamble partnered with General Electric to develop a jet engine for Boeing's new jumbo jet, they engaged in which strategy?

Accepted Answer

A)  concentric diversification strategy 
B)  cooperative strategy 
C)  diversification strategy 
D)  portfolio strategy 
A)  concentric diversification strategy 
B)  cooperative strategy 
C)  diversification strategy 
D)  portfolio strategy

Question 17

The norms, values, and preferences of a society are analyzed in 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 18

Which of the following is not a component of the external environment analysis?

Accepted Answer

A)  Benchmarking 
B)  Scanning 
C)  Monitoring 
D)  Forecasting 
A)  Benchmarking 
B)  Scanning 
C)  Monitoring 
D)  Forecasting

Question 19

What is benchmarking?

Accepted Answer

Benchmarking is a strategic ma

Question 20

The ups and downs in one economic sector seldom have a ripple effect on other sectors.

Accepted Answer

A) True 
 B)False

What is the difference between tangible and intangible resources? Give an example of each.

Polaroid erected a barrier to entry that kept Kodak from entering the industry with their patent.

A firm's strategic plan to create and manage a mix of businesses owned by the firm is a

The McKinsey-General Electric Portfolio Analysis Matrix and the Boston Consulting Group's Growth-Share Matrix are techniques of

Strategic outcomes refer to the intended results of the strategic plan.

When companies decide how to compete in a market segment, they are formulating

The strategic management viewpoint that bases business strategy on what the firm is capable of doing, providing a more sustainable competitive advantage than basing it on external opportunities, is the

What is a cooperative strategy? What purposes do they serve?

Which of the following is not included in the strategic management process?

For a strategy to be successful, a firm must be flexible and make changes to the plan based on experience. Strategic management requires adaptation to changing conditions.

What is the SWOT analysis?

Strategic intent and mission

Partners in strategic alliances can

The erosion of CD sales and the increase in music downloads reflects which of Porter's five forces in the industry?

When Procter and Gamble partnered with General Electric to develop a jet engine for Boeing's new jumbo jet, they engaged in which strategy?

The norms, values, and preferences of a society are analyzed in which component of the external environment?

Which of the following is not a component of the external environment analysis?

What is benchmarking?

The ups and downs in one economic sector seldom have a ripple effect on other sectors.

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

What is the difference between tangible and intangible resources? Give an example of each.

Polaroid erected a barrier to entry that kept Kodak from entering the industry with their patent.

A firm's strategic plan to create and manage a mix of businesses owned by the firm is a

The McKinsey-General Electric Portfolio Analysis Matrix and the Boston Consulting Group's Growth-Share Matrix are techniques of

Strategic outcomes refer to the intended results of the strategic plan.

When companies decide how to compete in a market segment, they are formulating

The strategic management viewpoint that bases business strategy on what the firm is capable of doing, providing a more sustainable competitive advantage than basing it on external opportunities, is the

What is a cooperative strategy? What purposes do they serve?

Which of the following is not included in the strategic management process?

For a strategy to be successful, a firm must be flexible and make changes to the plan based on experience. Strategic management requires adaptation to changing conditions.

What is the SWOT analysis?

Strategic intent and mission

Partners in strategic alliances can

The erosion of CD sales and the increase in music downloads reflects which of Porter's five forces in the industry?

When Procter and Gamble partnered with General Electric to develop a jet engine for Boeing's new jumbo jet, they engaged in which strategy?

The norms, values, and preferences of a society are analyzed in which component of the external environment?

Which of the following is not a component of the external environment analysis?

What is benchmarking?

The ups and downs in one economic sector seldom have a ripple effect on other sectors.

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