Question 1

Give an example of a technological leader.

Accepted Answer

The answer of Give an example of a technological leader....

Question 2

Which strategy is developed to pull together the various activities and competencies of each department so that corporate and business unit performance improves and resource productivity is maximized?

Accepted Answer

A)  business strategy 
B)  competitive strategy 
C)  generic strategy 
D)  enterprise strategy 
E)  functional strategy

Question 3

What is outsourcing? What are the seven major outsourcing errors that should be avoided?

Accepted Answer

The answer of What is outsourcing? What are the seven...

Question 4

An important consideration in the selection of a strategy is the ability of each alternative to satisfy agreed-upon objectives with the least resources and the fewest negatives.The competitive advantages developed earlier using ________ is an excellent place to start.

Accepted Answer

A)  factors to ensure profitable return on investment 
B)  the VRIO framework 
C)  the analysis of the competitive environment 
D)  industry research 
E)  the analysis of governmental regulations and requirements

Question 5

Constituency building,coalition building,and advocacy advertising are commonly used

Accepted Answer

A)  marketing strategies. 
B)  risk strategies. 
C)  human resource management strategies. 
D)  political strategies. 
E)  logistics strategies.

Question 6

As it relates to operations,AMT stands for

Accepted Answer

A)  Automated Manufacturing Technology. 
B)  Advanced Manufacturing Technology. 
C)  Asymptotic Manufacturing Technology. 
D)  Advanced Monotone Technology. 
E)  Automated Manufacturing Technician.

Question 7

Even the most attractive strategic alternative might not be selected if it is contrary to the needs and desires of important top managers.

Accepted Answer

A) True 
 B)False

Question 8

Leveraged buyouts are also sometimes referred to as

Accepted Answer

A)  leveraged bargains. 
B)  management buyouts. 
C)  management bargains. 
D)  coordinated buyouts. 
E)  debt buyouts.

Question 9

"The customer is always right" is an example of a policy in Nordstrom's.

Accepted Answer

A) True 
 B)False

Question 10

A flexible manufacturing system is

Accepted Answer

A)  one-of-a-kind production using skilled labor. 
B)  highly automated assembly lines making one mass-produced product using little human labor. 
C)  a grouping of parts into manufacturing families to produce a wide variety of mass-produced items. 
D)  a process utilizing the just-in-time (JIT) method of manufacturing. 
E)  standardization of components with each machine functioning like a job shop, but is positioned in the same order as the parts are processed.

Question 11

The first step in constructing a corporate scenario is to

Accepted Answer

A)  develop a common-sized financial statement. 
B)  construct detailed pro forma financial statements. 
C)  decide upon how much risk management is willing to accept. 
D)  analyze the societal environment. 
E)  use industry scenarios to develop a set of assumptions about the task environment.

Question 12

A recent trend in information systems strategy used by multi-national corporations is

Accepted Answer

A)  computerizing accounting. 
B)  automating customer service. 
C)  practicing follow-the-sun management. 
D)  replacing Fortran with Cobol in order to boost productivity. 
E)  replacing mainframe computers with robots.

Question 13

If a company wishes to be a technological follower and also pursue a differentiation strategy,the appropriate R&D strategy would be to

Accepted Answer

A)  adapt the product or delivery system more closely to buyer needs by learning from the leader's experience. 
B)  value activities by learning from the leader's experience. 
C)  avoid R&D costs through imitation. 
D)  create low-cost ways of performing value activities. 
E)  innovate in other activities to increase buyer value.

Question 14

In a dynamic environment,using consensus to arrive at a strategic decision is not recommended.Why? What two techniques can strategic managers use to avoid the consensus trap?

Accepted Answer

The answer of In a dynamic environment,using consensus to arrive...

Question 15

Corporate scenarios are pro forma balance sheets and income statements that forecast the effect each alternative strategy and its various programs will likely have on division and corporate return on investment.

Accepted Answer

A) True 
 B)False

Question 16

The top factors in a successful ________ seemed to be a spirit of partnership,a well-designed agreement,joint governance,and consistent communication.

Accepted Answer

A)  IT relationship 
B)  customer relationship management 
C)  outsourcing relationship 
D)  logistics relationship 
E)  accounting relationship

Question 17

To avoid the consensus trap,which technique involving presenting two conflicting views (the thesis and the antithesis) presented in a debate format can be traced back to Plato and Aristotle?

Accepted Answer

A)  devil's advocate 
B)  Sloan's judgment 
C)  sales presentation 
D)  dialectical inquiry 
E)  scenario construction

Question 18

A corporation might have invested so much in a particular strategy that top management is unwilling to accept its failure.This is an example of which strategy to avoid?

Accepted Answer

A)  follow the leader 
B)  hit another home run 
C)  arms race 
D)  do everything 
E)  losing hand

Question 19

A company that keeps up by imitating a leading company's strategy while ignoring its own strengths and weaknesses is an example of which strategy to avoid?

Accepted Answer

A)  follow the leader 
B)  hit another home run 
C)  arms race. 
D)  do everything 
E)  losing hand

Question 20

Church & Dwight uses the line extension strategy when they put the Arm & Hammer name on various new food products.

Accepted Answer

A) True 
 B)False

Exam 8: Strategy Formulation: Functional Strategy and Strategic Choice

Give an example of a technological leader.

Which strategy is developed to pull together the various activities and competencies of each department so that corporate and business unit performance improves and resource productivity is maximized?

What is outsourcing? What are the seven major outsourcing errors that should be avoided?

An important consideration in the selection of a strategy is the ability of each alternative to satisfy agreed-upon objectives with the least resources and the fewest negatives.The competitive advantages developed earlier using ________ is an excellent place to start.

Constituency building,coalition building,and advocacy advertising are commonly used

As it relates to operations,AMT stands for

Even the most attractive strategic alternative might not be selected if it is contrary to the needs and desires of important top managers.

Leveraged buyouts are also sometimes referred to as

"The customer is always right" is an example of a policy in Nordstrom's.

A flexible manufacturing system is

The first step in constructing a corporate scenario is to

A recent trend in information systems strategy used by multi-national corporations is

If a company wishes to be a technological follower and also pursue a differentiation strategy,the appropriate R&D strategy would be to

In a dynamic environment,using consensus to arrive at a strategic decision is not recommended.Why? What two techniques can strategic managers use to avoid the consensus trap?

Corporate scenarios are pro forma balance sheets and income statements that forecast the effect each alternative strategy and its various programs will likely have on division and corporate return on investment.

The top factors in a successful ________ seemed to be a spirit of partnership,a well-designed agreement,joint governance,and consistent communication.

To avoid the consensus trap,which technique involving presenting two conflicting views (the thesis and the antithesis) presented in a debate format can be traced back to Plato and Aristotle?

A corporation might have invested so much in a particular strategy that top management is unwilling to accept its failure.This is an example of which strategy to avoid?

A company that keeps up by imitating a leading company's strategy while ignoring its own strengths and weaknesses is an example of which strategy to avoid?

Church & Dwight uses the line extension strategy when they put the Arm & Hammer name on various new food products.