Question 1

A __________ views the world as one market and uses standardized products and advertising worldwide.

Accepted Answer

A)  multidomestic strategy 
B)  globalization strategy 
C)  diversification strategy 
D)  transnational strategy 
A)  multidomestic strategy 
B)  globalization strategy 
C)  diversification strategy 
D)  transnational strategy

Question 2

Which of the following terms refers to the process of formulating and implementing strategies to accomplish long-term goals and maintain a competitive advantage?

Accepted Answer

A)  Strategic controlling 
B)  Strategic management 
C)  Globalization 
D)  Sustainability 
A)  Strategic controlling 
B)  Strategic management 
C)  Globalization 
D)  Sustainability

Question 3

A strategy for expanding an organization's current operations is called a __________.

Accepted Answer

A)  restructuring strategy 
B)  stability strategy 
C)  retrenchment strategy 
D)  growth strategy 
A)  restructuring strategy 
B)  stability strategy 
C)  retrenchment strategy 
D)  growth strategy

Question 4

Which of the following is an example of a strategic question for a functional strategy?

Accepted Answer

A)  "How can we best utilize the marketing department to support implementation of the business strategy?" 
B)  "What kind of product or service mix should we have?" 
C)  "How are we going to compete for customers within this this industry and in this market?" 
D)  "In what industries and markets should the corporation compete in?" 
A)  "How can we best utilize the marketing department to support implementation of the business strategy?" 
B)  "What kind of product or service mix should we have?" 
C)  "How are we going to compete for customers within this this industry and in this market?" 
D)  "In what industries and markets should the corporation compete in?"

Question 5

__________ is the process of crafting strategy to fit mission and strategic intent, objectives, and environmental conditions.

Accepted Answer

A)  Co-opetition 
B)  Liquidation 
C)  Strategy implementation 
D)  Strategy formulation 
A)  Co-opetition 
B)  Liquidation 
C)  Strategy implementation 
D)  Strategy formulation

Question 6

A strategy with the objective of correcting performance difficulties in a business through radical changes to current operations is called a _________ strategy.

Accepted Answer

A)  co-opetition 
B)  growth 
C)  status quo 
D)  retrenchment 
A)  co-opetition 
B)  growth 
C)  status quo 
D)  retrenchment

Question 7

Strategic leadership inspires people to implement organizational strategies.

Accepted Answer

A) True 
 B)False

Question 8

All of the following are growth strategies EXCEPT:

Accepted Answer

A)  concentration. 
B)  diversification. 
C)  vertical integration. 
D)  restructuring. 
A)  concentration. 
B)  diversification. 
C)  vertical integration. 
D)  restructuring.

Question 9

__________ is the strategic use of the Internet to engage customers and potential customers in providing opinions and suggestions on products and their designs.

Accepted Answer

The answer of __________ is the strategic use of the...

Question 10

A(n) __________ is a comprehensive action plan that identifies long-term direction for an organization and guides resource utilization to accomplish its goals.

Accepted Answer

The answer of A(n) __________ is a comprehensive action plan...

Question 11

When a company expands by entering new business areas, it is called growth through __________.

Accepted Answer

A)  diversification 
B)  vertical integration 
C)  retrenchment 
D)  globalization 
A)  diversification 
B)  vertical integration 
C)  retrenchment 
D)  globalization

Question 12

What is the difference between a globalization strategy and a transnational strategy?

Accepted Answer

Firms pursuing a globalization strategy

Question 13

A strategic leader must do all of the following EXCEPT:

Accepted Answer

A)  allow members to grow complacent after success. 
B)  implement and control organizational strategies. 
C)  inspire people to engage in the process of continuous change. 
D)  create a sense of urgency. 
A)  allow members to grow complacent after success. 
B)  implement and control organizational strategies. 
C)  inspire people to engage in the process of continuous change. 
D)  create a sense of urgency.

Question 14

__________ makes sure strategies are well implemented and that poor strategies are scrapped or changed.

Accepted Answer

The answer of __________ makes sure strategies are well implemented...

Question 15

How does a differentiation strategy help in gaining competitive advantage?

Accepted Answer

A differentiation strategy seeks competi

Question 16

A SWOT analysis includes a detailed examination of an organization's strengths and weaknesses.

Accepted Answer

A) True 
 B)False

Question 17

A focused differentiation strategy is when you compete by selling products at lower prices than your competitors.

Accepted Answer

A) True 
 B)False

Question 18

The electronic version of the basic retail strategy of selling directly to customers is known as a __________.

Accepted Answer

A)  C2B business strategy 
B)  B2C business strategy 
C)  B2G business strategy 
D)  B2B business strategy 
A)  C2B business strategy 
B)  B2C business strategy 
C)  B2G business strategy 
D)  B2B business strategy

Question 19

A(n) ______________ is a comprehensive action plan that identifies long-term direction for an organization.

Accepted Answer

A)  competitive advantage 
B)  strategy 
C)  objective 
D)  idea 
A)  competitive advantage 
B)  strategy 
C)  objective 
D)  idea

Question 20

The __________ model of web-based business involves providing free listings from online merchants for directing potential customers to them.

Accepted Answer

A)  advertising 
B)  brokerage 
C)  referral 
D)  subscription 
A)  advertising 
B)  brokerage 
C)  referral 
D)  subscription

A __________ views the world as one market and uses standardized products and advertising worldwide.

Which of the following terms refers to the process of formulating and implementing strategies to accomplish long-term goals and maintain a competitive advantage?

A strategy for expanding an organization's current operations is called a __________.

Which of the following is an example of a strategic question for a functional strategy?

__________ is the process of crafting strategy to fit mission and strategic intent, objectives, and environmental conditions.

A strategy with the objective of correcting performance difficulties in a business through radical changes to current operations is called a _________ strategy.

Strategic leadership inspires people to implement organizational strategies.

All of the following are growth strategies EXCEPT:

__________ is the strategic use of the Internet to engage customers and potential customers in providing opinions and suggestions on products and their designs.

A(n) __________ is a comprehensive action plan that identifies long-term direction for an organization and guides resource utilization to accomplish its goals.

When a company expands by entering new business areas, it is called growth through __________.

What is the difference between a globalization strategy and a transnational strategy?

A strategic leader must do all of the following EXCEPT:

__________ makes sure strategies are well implemented and that poor strategies are scrapped or changed.

How does a differentiation strategy help in gaining competitive advantage?

A SWOT analysis includes a detailed examination of an organization's strengths and weaknesses.

A focused differentiation strategy is when you compete by selling products at lower prices than your competitors.

The electronic version of the basic retail strategy of selling directly to customers is known as a __________.

A(n) ______________ is a comprehensive action plan that identifies long-term direction for an organization.

The __________ model of web-based business involves providing free listings from online merchants for directing potential customers to them.

Management Today

Management Learning Past to Present

Ethics and Social Responsibility

Environment, Innovation, and Sustainability

Global Management and Cultural Diversity

Information and Decision-Making

Control Processes and Systems

Strategy and Strategic Management

Organization Structures and Design

Organization Culture and Change

Strategic Human Resource Management

Leading and Leadership Development

Individual Behaviour

Motivation Theory and Practice

Teams and Teamwork

Communication and Collaboration

Planning Processes and Techniques

Filters

Exam 6: Entrepreneurship and New Ventures

A __________ views the world as one market and uses standardized products and advertising worldwide.

Which of the following terms refers to the process of formulating and implementing strategies to accomplish long-term goals and maintain a competitive advantage?

A strategy for expanding an organization's current operations is called a __________.

Which of the following is an example of a strategic question for a functional strategy?

__________ is the process of crafting strategy to fit mission and strategic intent, objectives, and environmental conditions.

A strategy with the objective of correcting performance difficulties in a business through radical changes to current operations is called a _________ strategy.

Strategic leadership inspires people to implement organizational strategies.

All of the following are growth strategies EXCEPT:

__________ is the strategic use of the Internet to engage customers and potential customers in providing opinions and suggestions on products and their designs.

A(n) __________ is a comprehensive action plan that identifies long-term direction for an organization and guides resource utilization to accomplish its goals.

When a company expands by entering new business areas, it is called growth through __________.

What is the difference between a globalization strategy and a transnational strategy?

A strategic leader must do all of the following EXCEPT:

__________ makes sure strategies are well implemented and that poor strategies are scrapped or changed.

How does a differentiation strategy help in gaining competitive advantage?

A SWOT analysis includes a detailed examination of an organization's strengths and weaknesses.

A focused differentiation strategy is when you compete by selling products at lower prices than your competitors.

The electronic version of the basic retail strategy of selling directly to customers is known as a __________.

A(n) ______________ is a comprehensive action plan that identifies long-term direction for an organization.

The __________ model of web-based business involves providing free listings from online merchants for directing potential customers to them.

Management Today

Management Learning Past to Present

Ethics and Social Responsibility

Environment, Innovation, and Sustainability

Global Management and Cultural Diversity

Information and Decision-Making

Control Processes and Systems

Strategy and Strategic Management

Organization Structures and Design

Organization Culture and Change

Strategic Human Resource Management

Leading and Leadership Development

Individual Behaviour

Motivation Theory and Practice

Teams and Teamwork

Communication and Collaboration

Planning Processes and Techniques

Filters