Question 1

Which of the following is a business activity that an organization does especially well relative to its competition?

Accepted Answer

A)  Strategy 
B)  Synergy 
C)  Cash cow 
D)  Core competence 
E)  Multidomestic

Question 2

Which of the following refers to the planning and decision making that lead to the establishment of the organization's goals and of a specific strategic plan?

Accepted Answer

A)  Strategy formulation 
B)  Strategy implementation 
C)  Strategy coordination 
D)  Strategy control 
E)  SWOT

Question 3

For the social networking site Facebook, technological know-how and an aggressive and innovative culture, is a significant strength to include in its SWOT analysis.

Accepted Answer

A) True 
 B)False

Question 4

The ____ function recruits selects, trains, transfers, promotes, and lays off employees to achieve strategic goals.

Accepted Answer

A)  production 
B)  leadership 
C)  information and control systems 
D)  structural design 
E)  human resource

Question 5

When an organization chooses a(n) ____________________ strategy, it means that business decisions such as product design are made on a country-by-country basis.

Accepted Answer

The answer of When an organization chooses a(n) ____________________ strategy,...

Question 6

Barriers to entry are related to which competitive force?

Accepted Answer

A)  Rivalry among competitors 
B)  Potential new entrants 
C)  Threat of substitute products 
D)  Bargaining power of buyers 
E)  Bargaining power of suppliers

Question 7

Strategy implementation involves the planning and decision making that lead to the establishment of the firm's goals.

Accepted Answer

A) True 
 B)False

Question 8

A business activity that an organization does particularly well relative to its competition is known as a(n) ____________________.

Accepted Answer

The answer of A business activity that an organization does...

Question 9

In order for companies to remain competitive, their strategies must focus on three things. Describe these three focuses.

Accepted Answer

The answer of In order for companies to remain competitive,...

Question 10

The condition that exists when the organization's parts interact to produce a joint effect that is greater than the sum of the parts acting alone is known as

Accepted Answer

A)  core competence. 
B)  synergy. 
C)  value creation. 
D)  business-level strategy. 
E)  multidomestic strategy.

Question 11

____________________ means that managers focus on leveraging and developing more from the firm's existing assets, capabilities, and core competencies in a way that will provide a sustained competitive advantage.

Accepted Answer

The answer of ____________________ means that managers focus on leveraging...

Question 12

The assumption that a single global market exists would lead to a

Accepted Answer

A)  globalization strategy. 
B)  multidomestic strategy. 
C)  diversity strategy. 
D)  domestic strategy. 
E)  liquidation strategy.

Question 13

According to Porter, the bargaining power of the government is one of the five competitive forces affecting an organization's competitive environment.

Accepted Answer

A) True 
 B)False

Question 14

____ can be defined as the combination of benefits received and costs paid by the customer.

Accepted Answer

A)  Organizational benefits 
B)  Value 
C)  Cost-benefit diversity 
D)  Synergy 
E)  Core competence

Question 15

Where does the information about opportunities and threats comes from?

Accepted Answer

A)  An analysis of the organization's internal environment 
B)  A department by department study of the organization 
C)  Scanning the external environments 
D)  Employee grievances 
E)  Financial ratios of the organization

Question 16

A multidomestic strategy standardizes global products/advertising strategies.

Accepted Answer

A) True 
 B)False

Question 17

Strategic partnerships are the current trend, rather than mergers and acquisitions.

Accepted Answer

A) True 
 B)False

Question 18

Strategic decisions at the business level concern amount of advertising, direction and extent of R & D, product changes, new product development, equipment and facilities, and expansion or contraction of product lines.

Accepted Answer

A) True 
 B)False

Question 19

Which of these is true about the cash cow?

Accepted Answer

A)  It generates tremendous profits in a rapidly growing industry. 
B)  It has a small market share in a rapidly growing industry. 
C)  It has a small market share in a slow growth industry. 
D)  It has a large market share in a slow growth industry. 
E)  It is generally a dead business that should be divested.

Question 20

Value occurs when the organizational parts interact to produce a joint effect that is greater than the sum of the parts acting alone.

Accepted Answer

A) True 
 B)False

Exam 7: Strategy Formulation and Implementation

Which of the following is a business activity that an organization does especially well relative to its competition?

Which of the following refers to the planning and decision making that lead to the establishment of the organization's goals and of a specific strategic plan?

For the social networking site Facebook, technological know-how and an aggressive and innovative culture, is a significant strength to include in its SWOT analysis.

The ____ function recruits selects, trains, transfers, promotes, and lays off employees to achieve strategic goals.

When an organization chooses a(n) ____________________ strategy, it means that business decisions such as product design are made on a country-by-country basis.

Barriers to entry are related to which competitive force?

Strategy implementation involves the planning and decision making that lead to the establishment of the firm's goals.

A business activity that an organization does particularly well relative to its competition is known as a(n) ____________________.

In order for companies to remain competitive, their strategies must focus on three things. Describe these three focuses.

The condition that exists when the organization's parts interact to produce a joint effect that is greater than the sum of the parts acting alone is known as

____________________ means that managers focus on leveraging and developing more from the firm's existing assets, capabilities, and core competencies in a way that will provide a sustained competitive advantage.

The assumption that a single global market exists would lead to a

According to Porter, the bargaining power of the government is one of the five competitive forces affecting an organization's competitive environment.

____ can be defined as the combination of benefits received and costs paid by the customer.

Where does the information about opportunities and threats comes from?

A multidomestic strategy standardizes global products/advertising strategies.

Strategic partnerships are the current trend, rather than mergers and acquisitions.

Strategic decisions at the business level concern amount of advertising, direction and extent of R & D, product changes, new product development, equipment and facilities, and expansion or contraction of product lines.

Which of these is true about the cash cow?

Value occurs when the organizational parts interact to produce a joint effect that is greater than the sum of the parts acting alone.