Question 1

What is the difference between the firm's strategic intent and strategic mission. How are they related?

Accepted Answer

The firm's strategic intent is the inter

Question 2

What is conglomerate diversification? What are its advantages and disadvantages?

Accepted Answer

Conglomerate diversification involves ma

Question 3

The role of boards of directors in monitoring the actions and decisions of top executives changed with the passage of

Accepted Answer

A)  the Sarbanes-Oxley Act. 
B)  NAFTA. 
C)  the Foreign Corrupt Practices Act. 
D)  the ADA. 
A)  the Sarbanes-Oxley Act. 
B)  NAFTA. 
C)  the Foreign Corrupt Practices Act. 
D)  the ADA.

Question 4

When Best Buy and Circuit City evaluated the impact of Walmart's move to offer product warranties at half the price, they were engaging in which component of external analysis?

Accepted Answer

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

Question 5

Which of the following is not an approach for organizations to examine their capabilities?

Accepted Answer

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

Question 6

The threat of new entrants ________ as barriers to entry ________.

Accepted Answer

A)  decreases; decrease 
B)  increases; decrease 
C)  decreases; increase 
D)  increases; increase 
A)  decreases; decrease 
B)  increases; decrease 
C)  decreases; increase 
D)  increases; increase

Question 7

Which of the following factors causes an increase in competitive rivalry?

Accepted Answer

A)  Fast industry growth 
B)  Undifferentiated services 
C)  Low exit barriers 
D)  Fewer number of competitors 
A)  Fast industry growth 
B)  Undifferentiated services 
C)  Low exit barriers 
D)  Fewer number of competitors

Question 8

The strategic management approach that establishes organizational capabilities for each of the major areas of the business is

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

Which of the following is considered a barrier to entry?

Accepted Answer

A)  Strong brand identification already exists in the industry. 
B)  Intellectual property that is legally protected may keep firms out of the industry. 
C)  Capital requirements are so high that few firms have the resources to enter. 
D)  all of the above 
A)  Strong brand identification already exists in the industry. 
B)  Intellectual property that is legally protected may keep firms out of the industry. 
C)  Capital requirements are so high that few firms have the resources to enter. 
D)  all of the above

Question 10

Which of the following plays a role in strategy implementation?

Accepted Answer

A)  Strategic leadership 
B)  Human resource strategies 
C)  Organizational structure and controls 
D)  all of the above 
A)  Strategic leadership 
B)  Human resource strategies 
C)  Organizational structure and controls 
D)  all of the above

Question 11

What is portfolio analysis?

Accepted Answer

Portfolio analysis is an appro

Question 12

When Visa and MasterCard began to differentiate their cards based on prestige, American Express learned which lesson about strategic management?

Accepted Answer

A)  A firm must remain inflexible with its plan. 
B)  A firm must plan long-term. 
C)  When competitors learn how to copy the strategy, a firm has to reformulate to stay ahead. 
D)  all of the above 
A)  A firm must remain inflexible with its plan. 
B)  A firm must plan long-term. 
C)  When competitors learn how to copy the strategy, a firm has to reformulate to stay ahead. 
D)  all of the above

Question 13

According to the BCG Matrix, a business unit that is both low in market share and low in market growth is a

Accepted Answer

A)  cow. 
B)  star. 
C)  question mark. 
D)  dog. 
A)  cow. 
B)  star. 
C)  question mark. 
D)  dog.

Question 14

Which diversification strategy focuses on a single business operating in a single industry segment?

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 15

A group of firms with products that can substitute for one another is referred to as

Accepted Answer

A)  a strategic group. 
B)  an external environment. 
C)  a supplier. 
D)  an industry. 
A)  a strategic group. 
B)  an external environment. 
C)  a supplier. 
D)  an industry.

Question 16

Describe the recommendations of the Boston Consulting Group's Growth-Share Matrix.

Accepted Answer

The recommendations of the BCG Matrix ar

Question 17

Which level of environmental analysis is the broadest?

Accepted Answer

A)  The general environment 
B)  The industry 
C)  The strategic group 
D)  Direct competitors 
A)  The general environment 
B)  The industry 
C)  The strategic group 
D)  Direct competitors

Question 18

What are the two basic choices when selecting a business-level strategy? Provide examples of each.

Accepted Answer

The two basic choices when selecting a b

Question 19

The SWOT analysis is used in which step of the strategic management process?

Accepted Answer

A)  Formulating strategy 
B)  Implementing strategy 
C)  Evaluating strategy 
D)  Analyzing the internal and external environments 
A)  Formulating strategy 
B)  Implementing strategy 
C)  Evaluating strategy 
D)  Analyzing the internal and external environments

Question 20

Which of the following is a segment of the general environment?

Accepted Answer

A)  Demographic trends 
B)  Economic conditions 
C)  Globalization 
D)  all of the above 
A)  Demographic trends 
B)  Economic conditions 
C)  Globalization 
D)  all of the above

What is the difference between the firm's strategic intent and strategic mission. How are they related?

What is conglomerate diversification? What are its advantages and disadvantages?

The role of boards of directors in monitoring the actions and decisions of top executives changed with the passage of

When Best Buy and Circuit City evaluated the impact of Walmart's move to offer product warranties at half the price, they were engaging in which component of external analysis?

Which of the following is not an approach for organizations to examine their capabilities?

The threat of new entrants as barriers to entry .

Which of the following factors causes an increase in competitive rivalry?

The strategic management approach that establishes organizational capabilities for each of the major areas of the business is

Which of the following is considered a barrier to entry?

Which of the following plays a role in strategy implementation?

What is portfolio analysis?

When Visa and MasterCard began to differentiate their cards based on prestige, American Express learned which lesson about strategic management?

According to the BCG Matrix, a business unit that is both low in market share and low in market growth is a

Which diversification strategy focuses on a single business operating in a single industry segment?

A group of firms with products that can substitute for one another is referred to as

Describe the recommendations of the Boston Consulting Group's Growth-Share Matrix.

Which level of environmental analysis is the broadest?

What are the two basic choices when selecting a business-level strategy? Provide examples of each.

The SWOT analysis is used in which step of the strategic management process?

Which of the following is a segment of the general environment?

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 the firm's strategic intent and strategic mission. How are they related?

What is conglomerate diversification? What are its advantages and disadvantages?

The role of boards of directors in monitoring the actions and decisions of top executives changed with the passage of

When Best Buy and Circuit City evaluated the impact of Walmart's move to offer product warranties at half the price, they were engaging in which component of external analysis?

Which of the following is not an approach for organizations to examine their capabilities?

The threat of new entrants ________ as barriers to entry ________.

Which of the following factors causes an increase in competitive rivalry?

The strategic management approach that establishes organizational capabilities for each of the major areas of the business is

Which of the following is considered a barrier to entry?

Which of the following plays a role in strategy implementation?

What is portfolio analysis?

When Visa and MasterCard began to differentiate their cards based on prestige, American Express learned which lesson about strategic management?

According to the BCG Matrix, a business unit that is both low in market share and low in market growth is a

Which diversification strategy focuses on a single business operating in a single industry segment?

A group of firms with products that can substitute for one another is referred to as

Describe the recommendations of the Boston Consulting Group's Growth-Share Matrix.

Which level of environmental analysis is the broadest?

What are the two basic choices when selecting a business-level strategy? Provide examples of each.

The SWOT analysis is used in which step of the strategic management process?

Which of the following is a segment of the general environment?

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

The threat of new entrants as barriers to entry .