Question 1

The combined external and internal analyses are called ________.

Accepted Answer

A) competitor analysis 
B) industry analysis 
C) market analysis 
D) SWOT analysis 
A) competitor analysis 
B) industry analysis 
C) market analysis 
D) SWOT analysis

Question 2

Identify the six steps in the strategic management process and briefly explain what happens in each step.

Accepted Answer

Step 1: Identify the Organization's Curr

Question 3

Managers should "milk" cash cows for as much as they can,limit any new investment in them,and use the large amounts of cash generated to invest in ________ and ________.

Accepted Answer

A) dogs; stars 
B) cash cows; dogs 
C) stars; question marks 
D) question marks; dogs 
A) dogs; stars 
B) cash cows; dogs 
C) stars; question marks 
D) question marks; dogs

Question 4

What is a strategic disadvantage of being a first mover?

Accepted Answer

A) least opportunity to build customer loyalty 
B) risk of competitors imitating innovations 
C) no cost and learning benefit 
D) no control over resources 
A) least opportunity to build customer loyalty 
B) risk of competitors imitating innovations 
C) no cost and learning benefit 
D) no control over resources

Question 5

In the Boston Consulting Group (BCG)matrix,a business unit that has a low anticipated growth rate but a high market share is known as a ________.

Accepted Answer

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

Question 6

List and discuss the different types of corporate strategies.

Accepted Answer

The three main types of corporate strate

Question 7

In ________,the organization gains control of its outputs by becoming its own distributor.

Accepted Answer

A) diversified integration 
B) concentrated integration 
C) backward vertical integration 
D) forward vertical integration 
A) diversified integration 
B) concentrated integration 
C) backward vertical integration 
D) forward vertical integration

Question 8

Managers perform an external analysis so that they know about ________.

Accepted Answer

A) the firm's basic beliefs and ethical priorities 
B) what the competition is doing 
C) what customers want 
D) their organization's core competencies 
A) the firm's basic beliefs and ethical priorities 
B) what the competition is doing 
C) what customers want 
D) their organization's core competencies

Question 9

Diversification is an example of a corporate retrenchment strategy.

Accepted Answer

A) True 
 B)False

Question 10

When conducting a SWOT analysis,threats are activities the organization doesn't do well or resources it needs but doesn't possess.

Accepted Answer

A) True 
 B)False

Question 11

Newmark RV is performing an internal analysis.Which of the following would be considered a resource?

Accepted Answer

A) a patent for a special design feature 
B) a method of production not used by competitors 
C) strongly positive reviews from existing customers 
D) membership in RVIA,the industry association 
A) a patent for a special design feature 
B) a method of production not used by competitors 
C) strongly positive reviews from existing customers 
D) membership in RVIA,the industry association

Question 12

A ________ firm uses both online and traditional stand-alone locations.

Accepted Answer

A) first mover 
B) clicks-and-bricks 
C) focuser 
D) brick-and-mortar 
A) first mover 
B) clicks-and-bricks 
C) focuser 
D) brick-and-mortar

Question 13

The final step in the strategic management process is implementing the objectives.

Accepted Answer

A) True 
 B)False

Question 14

________ is the ability to recognize major external changes,to quickly commit resources,and to recognize when a strategic decision is not working.

Accepted Answer

A) Strategic apprenticeship 
B) Strategic flexibility 
C) Strategic leadership 
D) Strategic management 
A) Strategic apprenticeship 
B) Strategic flexibility 
C) Strategic leadership 
D) Strategic management

Question 15

How can an organization develop strategic flexibility?

Accepted Answer

A) It should commit resources only after thorough planning. 
B) It should ignore mistakes. 
C) It should depend on tried and tested perspectives from senior employees. 
D) It should have multiple alternatives when making strategic decisions. 
A) It should commit resources only after thorough planning. 
B) It should ignore mistakes. 
C) It should depend on tried and tested perspectives from senior employees. 
D) It should have multiple alternatives when making strategic decisions.

Question 16

If Burger King were to buy out Mom and Pop's Burgers,Burger King would be growing by vertical integration.

Accepted Answer

A) True 
 B)False

Question 17

Helen,the owner of Crazy Cupcakes,is conducting a SWOT analysis of her company.Which of the following represents an opportunity for expansion?

Accepted Answer

A) There has been a trend toward personalized cupcakes for a variety of occasions. 
B) The production process was found to be highly efficient and wastage was kept to a minimum. 
C) In a taste test,Crazy Cupcakes products ranked higher than competitors in the taste and texture segments. 
D) One of Crazy Cupcakes competitors has added cookies to its product line. 
A) There has been a trend toward personalized cupcakes for a variety of occasions. 
B) The production process was found to be highly efficient and wastage was kept to a minimum. 
C) In a taste test,Crazy Cupcakes products ranked higher than competitors in the taste and texture segments. 
D) One of Crazy Cupcakes competitors has added cookies to its product line.

Question 18

In a short essay,explain strategic management and why it is important.

Accepted Answer

Strategic management is what managers do

Question 19

A ________ strategy is when an organization expands the number of markets served or the products offered.

Accepted Answer

A) growth 
B) renewal 
C) stability 
D) retrenchment 
A) growth 
B) renewal 
C) stability 
D) retrenchment

Question 20

A retrenchment strategy is a short-run renewal strategy that helps an organization stabilize operations,revitalize organizational resources and capabilities,and prepare to compete once again.

Accepted Answer

A) True 
 B)False

The combined external and internal analyses are called ________.

Identify the six steps in the strategic management process and briefly explain what happens in each step.

Managers should "milk" cash cows for as much as they can,limit any new investment in them,and use the large amounts of cash generated to invest in and .

What is a strategic disadvantage of being a first mover?

In the Boston Consulting Group (BCG)matrix,a business unit that has a low anticipated growth rate but a high market share is known as a ________.

List and discuss the different types of corporate strategies.

In ________,the organization gains control of its outputs by becoming its own distributor.

Managers perform an external analysis so that they know about ________.

Diversification is an example of a corporate retrenchment strategy.

When conducting a SWOT analysis,threats are activities the organization doesn't do well or resources it needs but doesn't possess.

Newmark RV is performing an internal analysis.Which of the following would be considered a resource?

A ________ firm uses both online and traditional stand-alone locations.

The final step in the strategic management process is implementing the objectives.

________ is the ability to recognize major external changes,to quickly commit resources,and to recognize when a strategic decision is not working.

How can an organization develop strategic flexibility?

If Burger King were to buy out Mom and Pop's Burgers,Burger King would be growing by vertical integration.

Helen,the owner of Crazy Cupcakes,is conducting a SWOT analysis of her company.Which of the following represents an opportunity for expansion?

In a short essay,explain strategic management and why it is important.

A ________ strategy is when an organization expands the number of markets served or the products offered.

A retrenchment strategy is a short-run renewal strategy that helps an organization stabilize operations,revitalize organizational resources and capabilities,and prepare to compete once again.

Managers in the Workplace

Managers As Decision Makers

Managing the External Environment and the Organizations Culture

Managing in a Global Environment

Managing Diversity

Managing Social Responsibility and Ethics

Managing Change and Innovation

Planning Work Activities

Designing Organizational Structure - Basic Designs

Designing Organizational - Structure Adaptive Design

Managing Human Resources

Creating and Managing Teams

Managing Communication

Understanding and Managing Individual Behavior

Motivating Employees

Being an Effective Leader

Monitoring and Controlling

Filters

Exam 9: Managing Strategy

The combined external and internal analyses are called ________.

Identify the six steps in the strategic management process and briefly explain what happens in each step.

Managers should "milk" cash cows for as much as they can,limit any new investment in them,and use the large amounts of cash generated to invest in ________ and ________.

What is a strategic disadvantage of being a first mover?

In the Boston Consulting Group (BCG)matrix,a business unit that has a low anticipated growth rate but a high market share is known as a ________.

List and discuss the different types of corporate strategies.

In ________,the organization gains control of its outputs by becoming its own distributor.

Managers perform an external analysis so that they know about ________.

Diversification is an example of a corporate retrenchment strategy.

When conducting a SWOT analysis,threats are activities the organization doesn't do well or resources it needs but doesn't possess.

Newmark RV is performing an internal analysis.Which of the following would be considered a resource?

A ________ firm uses both online and traditional stand-alone locations.

The final step in the strategic management process is implementing the objectives.

________ is the ability to recognize major external changes,to quickly commit resources,and to recognize when a strategic decision is not working.

How can an organization develop strategic flexibility?

If Burger King were to buy out Mom and Pop's Burgers,Burger King would be growing by vertical integration.

Helen,the owner of Crazy Cupcakes,is conducting a SWOT analysis of her company.Which of the following represents an opportunity for expansion?

In a short essay,explain strategic management and why it is important.

A ________ strategy is when an organization expands the number of markets served or the products offered.

A retrenchment strategy is a short-run renewal strategy that helps an organization stabilize operations,revitalize organizational resources and capabilities,and prepare to compete once again.

Managers in the Workplace

Managers As Decision Makers

Managing the External Environment and the Organizations Culture

Managing in a Global Environment

Managing Diversity

Managing Social Responsibility and Ethics

Managing Change and Innovation

Planning Work Activities

Designing Organizational Structure - Basic Designs

Designing Organizational - Structure Adaptive Design

Managing Human Resources

Creating and Managing Teams

Managing Communication

Understanding and Managing Individual Behavior

Motivating Employees

Being an Effective Leader

Monitoring and Controlling

Filters

Managers should "milk" cash cows for as much as they can,limit any new investment in them,and use the large amounts of cash generated to invest in and .