Question 1

Managers of Matrix Ltd.attempted to give the organization a competitive advantage by driving the production costs to as low a level as possible.We can say that the organization is pursuing a differentiation strategy.

Accepted Answer

A) True 
 B)False

Question 2

According to Michael Porter's five forces model,the more that companies compete against one another for customers,the higher is the level of industry profits.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is the least complex global operation?

Accepted Answer

A)  Joint venture 
B)  Exporting 
C)  Licensing 
D)  Franchising 
E)  Strategic alliance

Question 4

Coca-Cola spends an enormous amount of money on advertising to distinguish,and create a unique image for,their products.Which of the following strategies is Coca-Cola pursuing?

Accepted Answer

A)  Diversification 
B)  Focused low-cost 
C)  Differentiation 
D)  Low-cost 
E)  Market development

Question 5

The major advantage of a multidomestic strategy is that managers may be able to gain market share or charge higher prices for their products.

Accepted Answer

A) True 
 B)False

Question 6

In general,business planning involves three distinct steps.Discuss these three steps.

Accepted Answer

The answer of In general,business planning involves three distinct steps.Discuss...

Question 7

To determine an organization's mission,managers must first define its:

Accepted Answer

A)  vision. 
B)  strategy. 
C)  tactics. 
D)  business. 
E)  competition.

Question 8

Distinguish between a policy,a rule,and a standard operating procedure of an organization and give one example of each of these types of standing plans that would be used in a business.

Accepted Answer

The answer of Distinguish between a policy,a rule,and a standard...

Question 9

A broad declaration of the organization's overriding purpose,intended to identify the organization's products and customer base,as well as to differentiate the organization from its competitors is known as a:

Accepted Answer

A)  functional-level statement. 
B)  mission statement. 
C)  formulated strategy statement. 
D)  positioning statement. 
E)  vision statement.

Question 10

_____ means that at any one time only one central,guiding plan is put into operation to achieve an organizational goal.

Accepted Answer

A)  Accuracy 
B)  Flexibility 
C)  Unity 
D)  Continuity 
E)  Synergy

Exam 6: Planning, Strategy, and Competitive Advantage

Managers of Matrix Ltd.attempted to give the organization a competitive advantage by driving the production costs to as low a level as possible.We can say that the organization is pursuing a differentiation strategy.

According to Michael Porter's five forces model,the more that companies compete against one another for customers,the higher is the level of industry profits.

Which of the following is the least complex global operation?

Coca-Cola spends an enormous amount of money on advertising to distinguish,and create a unique image for,their products.Which of the following strategies is Coca-Cola pursuing?

The major advantage of a multidomestic strategy is that managers may be able to gain market share or charge higher prices for their products.

In general,business planning involves three distinct steps.Discuss these three steps.

To determine an organization's mission,managers must first define its:

Distinguish between a policy,a rule,and a standard operating procedure of an organization and give one example of each of these types of standing plans that would be used in a business.

A broad declaration of the organization's overriding purpose,intended to identify the organization's products and customer base,as well as to differentiate the organization from its competitors is known as a:

_____ means that at any one time only one central,guiding plan is put into operation to achieve an organizational goal.