Question 1

Spotlight Movies has conducted market research about to where to open their next theater. They want to stay-focused on their mission to only open in markets with less than 200,000 people. Their strategy is

Accepted Answer

A)  few needs, many customers. 
B)  broad needs, few customers. 
C)  broad needs, many customers. 
D)  few needs, few customers. 
E)  broad needs, some trade-offs.

Question 2

Four Seasons Lawn and Landscaping provides customers with quality and value, treats others as they want to be treated, and practices open communications with all stakeholders. These are part of their

Accepted Answer

A)  values statement. 
B)  vision statement. 
C)  mission statement. 
D)  strategic formulation. 
E)  reality assessment.

Question 3

You are the executive chef at an exclusive restaurant in Manhattan, New York. You want to know how your restaurant compares to others in the area. Describe how you would use benchmarking.

Accepted Answer

The answer of You are the executive chef at an...

Question 4

Global Market has decided to increase its market share by hiring a marketing rep to visit businesses in the area and invite their employees to shop at Global Market and attend monthly health events that take place at Global Market stores. Each of the individual stores has hired two new employees to handle the anticipated increase in customer traffic. Global Market is using a ________ strategy.

Accepted Answer

A)  cutting-edge 
B)  stability 
C)  defensive 
D)  growth 
E)  diverse

Question 5

Edmond, the CEO of Hartman Manufacturing, said to his new vice president of accounting, "In the past I had resistance to new ideas by employees who felt that our plans threatened their influence or their jobs. So when you tell your collections department that we just hired a collection agency to handle bad debt, you may have to sell your collections manager and his supervisors on using the agency. You also have to emphasize the fact that nobody is going to be laid off." Selling middle and supervisory managers on changes to overcome their resistance is often a necessary part of

Accepted Answer

A)  reality assessment. 
B)  strategy formulation. 
C)  strategic control. 
D)  operational control. 
E)  strategy implementation.

Question 6

A local dance studio offers many services: tap and ballet lessons to young children (under age 10), additional jazz and hip hop lessons to preteens, competitive dance for teenagers, and ballroom dance for adults. We can say that the studio has achieved ________ because the studio's activities interact and reinforce one another.

Accepted Answer

A)  an effective defensive strategy 
B)  a blue ocean strategy 
C)  diversification 
D)  contingency 
E)  fit

Question 7

Porter's competitive strategies of cost leadership and differentiation focus on ________ markets, while the cost-focus and focused-differentiation strategies focus on ________ markets.

Accepted Answer

A)  narrow; wide 
B)  specific; broad 
C)  growth; specific 
D)  diverse; narrow 
E)  wide; narrow

Question 8

PC's & More has shifted to sales and service of laptops and PCs, where it has the potential to triple the number of its customers. The company is no longer offering repairs on older types of office equipment because the demand for service on this equipment is low, and profits in that part of the business have dropped significantly. PC's & More is implementing a ________ strategy.

Accepted Answer

A)  growth 
B)  cutting-edge 
C)  stability 
D)  defensive 
E)  diverse

Question 9

You have been asked by a new a hair salon, Twist & Braid, to identify whether or not they should expand the business either by opening a new salon or expanding the current salon to offer new services. As a first step, you interview the owner and clients as they come in for their appointments. You also visit a few other local businesses and conduct interviews of people as they pass by. You also review Yelp and Facebook for reviews of the salon. Which of the following best describes the process you are implementing?

Accepted Answer

A)  re-envisioning 
B)  branding 
C)  VRIO 
D)  MBO 
E)  SWOT

Question 10

________ is(are) included in strategic control.

Accepted Answer

A)  Implementing MBO 
B)  A strong employee diversity and synergy agenda 
C)  Seldom making adjustments to a strategy 
D)  Monitoring the execution of strategy and making adjustments, if necessary, 
E)  Developing a diversity plan

Question 11

Value Products is an organization that operates several companies that market food products, restaurant equipment, and paper and plastic products, and it even has a division that counsels restaurant owners, helping them launch new restaurants successfully. Value Products is pursuing a ________ strategy.

Accepted Answer

A)  single-product 
B)  diversification 
C)  focused-differentiation strategy 
D)  differentiation 
E)  multiproduct

Exam 6: Strategic Management: How Exceptional Managers Realize a Grand Design

Spotlight Movies has conducted market research about to where to open their next theater. They want to stay-focused on their mission to only open in markets with less than 200,000 people. Their strategy is

Four Seasons Lawn and Landscaping provides customers with quality and value, treats others as they want to be treated, and practices open communications with all stakeholders. These are part of their

You are the executive chef at an exclusive restaurant in Manhattan, New York. You want to know how your restaurant compares to others in the area. Describe how you would use benchmarking.

Porter's competitive strategies of cost leadership and differentiation focus on markets, while the cost-focus and focused-differentiation strategies focus on markets.

________ is(are) included in strategic control.