Question-1
One factor that would lead to high-performance work practices is
A. using contingent pay.
B. forming problem-solving groups.
C. conducting attitude surveys.
D. All of the answer choices are correct.
Question-2
When a company builds a profitable business by "stealing" ideas from other successful peers, it is following a(n) ________ strategy.
A. prospector
B. defender
C. analyzer
D. reactor
Question-3
________ is when organizations battle or vie for some desired object or outcome.
A. Competition
B. Strategy
C. Goal
D. Objective
Question-4
The ________ point(s) to the strategic issues organizational decision makers need to address in their pursuit of sustainable competitive advantage and high levels of performance.
A. portfolio analysis
B. distinctive capabilities
C. strengths
D. SWOT analysis
Question-5
________ refer(s) to the process of creating and providing goods and services.
A. Marketing
B. Production-operations
C. High-performance work practices
D. Information system
Question-6
An organization's ________ strategies reflect its commitment to and treatment of its employees.
A. procurement
B. corporate
C. HR
D. competitive
Question-7
In Porter's cost leadership strategy, the main goal of the cost leader is to have the lowest ________ in the industry.
A. profits
B. prices
C. costs
D. products
Question-8
Product design strategies typically involve an organization's ________ functional area.
A. finance
B. R&D
C. accounting
D. HR
Question-9
Determining the optimum mix of equity or debt is a decision made by which organizational support process?
A. Financial-accounting systems
B. Corporate governance systems
C. Procurement systems
D. Product development systems
Question-10
Which are the two biggest factors in marketing?
A. Competitors and pricing
B. Product and competitors
C. Customers and competitors
D. Pricing and customers
Question-11
The role of top-level decision makers in the strategic management process is to:
A. establish the overall operational goals.
B. develop the overall goal that the organization hopes to achieve.
C. establish functional strategies.
D. supervise line managers.
Question-12
The ________ strategy is one in which an organization continually innovates by finding and exploiting new product and market opportunities.
A. prospector
B. defender
C. analyzer
D. reactor
Question-13
The ________ works hard to establish brand loyalty.
A. differentiator
B. cost leader
C. defender
D. reactor
Question-14
Which of the following is NOT a possible dimension for identifying strategic groups?
A. Units sold
B. Price
C. Quality
D. Geographic scope
Question-15
Which of the following is NOT one of Miles and Snow's adaptive strategies?
A. Defender
B. Prospector
C. Cost leader
D. Analyzer
Question-16
The ________ strategy is one in which an organization continually innovates by finding and exploiting new product and market opportunities.
A. prospector
B. defender
C. analyzer
D. reactor
Question-17
The marketing mix is commonly known as the
A. 4Ps
B. 5Ps
C. 7Ss
D. 4Ss
Question-18
One of the two strategic decisions most associated with the organization's information system is:
A. optimum equity mix.
B. creating an approved vendor list.
C. selecting the correct marketing mix.
D. the choice of system technology.
Question-19
If Mr. Carol wanted to introduce high-performance work practices in his organization, which of the following practices would he adopt?
A. Centralized decision making
B. Fixed job assignments
C. Limited communication
D. Self-managed work teams
Question-20
Francesca has had a higher than desirable level of server turnover in her restaurant. She decided that she needs to pay better attention to which strategies?
A. Marketing
B. Human resources
C. Information
D. Financial-accounting
Question-21
For corporate growth strategies, the options for implementation are:
A. diversification, concentration, and international.
B. mergers/acquisitions, internal development, and strategic partnering.
C. cost leadership, differentiation, and focus.
D. offensive, defensive, and concentration.
Question-22
________ are usually "friendly."
A. Mergers
B. Acquisitions
C. Takeovers
D. Buyouts
Question-23
A concentration strategy:
A. does not enable an organization to become very good at what it does.
B. cannot cause the organization to become vulnerable to industry and other external environmental shifts.
C. allows the firm to diversify into new industries.
D. is a growth strategy in which the organization concentrates on its primary line of business and looks for ways to meet its growth objectives through expanding its activities or operations in its core business.
Question-24
A business unit with low relative market share and low industry growth rate is referred to as a:
A. dog.
B. cash cow.
C. cat.
D. question mark.
Question-25
Examples of strategic partnering include:
A. vertical integration, international expansion, and horizontal diversification.
B. concentration, vertical integration, and strategic alliances.
C. joint ventures, horizontal diversification, and international expansion.
D. joint ventures, long-term contracts, and strategic alliances.
Question-26
The ________ strategy is one in which the organization maintains its current size and current level of business operations.
A. stability
B. concentration
C. diversification
D. backward integration
Question-27
Starting a business from the ground up is referred to as:
A. product development.
B. market development.
C. strategic development.
D. internal development.
Question-28
A legal transaction in which two or more organizations combine operations through an exchange of stock is called a(n):
A. acquisition.
B. merger.
C. takeover.
D. repurchase.
Question-29
A paper manufacturer purchasing a forest of trees is an example of:
A. forward vertical integration.
B. backward vertical integration.
C. product/market exploitation.
D. product development.
Question-30
The organization's ability to complete or reach goals is referred to as:
A. efficiency.
B. effectiveness.
C. productivity.
D. stability.
Question-31
The _______ strategy establishes the overall direction that the organization hopes to go.
A. business
B. functional
C. corporate
D. competitive
Question-32
Cash flows from cash cows should be used to support:
A. question marks.
B. stars.
C. dogs.
D. question marks and stars.
Question-33
Efficiency is:
A. the organization's ability to complete or reach goals.
B. a specific measure, typically used in the production-operations-manufacturing area, of how many inputs it took to produce outputs.
C. the ability of the organization to minimize the use of resources in achieving organizational goals.
D. the search for the best practices from other leading organizations.
Question-34
Related diversification is ________ unrelated diversification.
A. less effective than
B. more effective than
C. just as effective as
D. less profitable than
Question-35
A company like PepsiCo, with a number of business units such as snack foods, beverages, and prepared foods, is referred to as a:
A. single-business organization.
B. multiple-business organization.
C. multiple-line organization.
D. multiple-function organization.
Question-36
The types of renewal strategies include:
A. retrenchment strategy.
B. turnaround strategy.
C. diversification strategy.
D. retrenchment and turnaround strategies.
Question-37
When an organization remains with its core industry, this is an example of a ________ strategy.
A. concentration
B. forward integration
C. backward integration
D. horizontal integration
Question-38
Which of the following is a type of strategic partnering?
A. Licensing
B. Exporting
C. Joint venture
D. Direct investment
Question-39
Mr. Wilson, a successful importer of Italian furniture, is considering combining operations by exchanging stock with a competitor, Italian Delights, to create a new store, Supremo Italiano. Which of the following growth strategies is Mr. Wilson following here?
A. Merger
B. Acquisition
C. Hostile takeover
D. Internal development
Question-40
One of the major disadvantages of the McKinsey matrix is that of:
A. simplicity.
B. uniqueness.
C. subjectivity.
D. All of the answer choices are correct.
