According to research, a healthier workforce can more effectively and efficiently
implement strategies.
A current trend in R&D management involves the lifting of the veil of secrecy whereby
firms, even major competitors, are joining forces to develop new products.
Internal opportunities can be represented by major competitors’ weaknesses.
The bargaining power of consumers can be the most important force impacting
competitive advantage.
General Electric achieved $20 billion in sales by 2011 in eco-friendly technologies.
The management function of organizing is included in human resource management.
A chief executive officer is located in the divisional level of a large firm.
The EEOC recovered $376 million on behalf of office romance victims in 2009.
The SP and CP dimension variables in a SPACE Matrix are assigned a numerical value
ranging from -1 (best) to -7 (worst).
The total assets turnover ratio is calculated by dividing sales by fixed assets.
Any object, act, event, quality, or relation used to convey meaning is known as a
A) myth.
B) rite.
C) value.
D) symbol.
E) metaphor.
Which of the following is NOT one of the nine recommended components of a mission
statement?
A) Strategies
B) Self-concept
C) Concern for employees
D) Markets
E) Customers
Which strategy should an organization use if it competes in a no-growth or a
slow-growth industry?
A) Divestiture
B) Related diversification
C) Backward integration
D) Unrelated diversification
E) Retrenchment
Strategy formulation
A) is managing forces during the action.
B) requires coordination among a few individuals.
C) is primarily an operational process.
D) requires special motivation and leadership skills.
E) all of the above
Changing a strategy to fit an existing culture
A) is usually less effective than changing a firm’s culture to fit a new strategy.
B) is usually more effective than changing a firm’s culture to fit a new strategy.
C) is just as effective as changing a firm’s culture to fit a new strategy.
D) is always the best option.
E) none of the above
Market commonality can be defined as
A) the number and significance of markets that a firm competes in with rivals.
B) the number and significance of points in common a firm has with its rivals.
C) the extent to which the type of a firm’s internal resources are comparable to a rival.
D) the extent to which the amount of a firm’s internal resources are comparable to a
rival.
E) none of the above
Organizational resources include all of the following EXCEPT
A) employee training
B) firm structure
C) planning processes
D) information systems
E) copyrights
The strategic-management process
A) occurs once a year.
B) is a semiannual process.
C) is a continuous process.
D) applies mostly to companies with sales greater than $100 million.
E) applies mostly to small businesses.
What is the cornerstone of effective strategy evaluation?
A) Adequate and timely feedback
B) Quality and quantity of managers
C) Smaller ratio of top- to lower-level management
D) Evaluation preceding implementation stage
E) Punitive corrective actions
What challenge facing all organizations requires managers to formulate strategies that
preserve and conserve natural resources and control pollution?
A) Economic
B) Ecological
C) Compensational
D) Benchmarking
E) Sociological
International financial reporting standards (IFRS) comprise approximately ________
pages.
A) 1,000
B) 5,000
C) 10,000
D) 25,000
E) 100,000
The process of performing an external audit needs to include
A) only top level managers, as it is a planning function.
B) as many managers and employees as possible.
C) primarily front-line supervisors.
D) between 15 to 20 managers for it to be valid.
E) stockholders and external government agencies.
The strategic-management process for multinational firms is ________ for purely
domestic firms, and the process is ________ for international firms.
A) conceptually the same as; more simple
B) conceptually the same as; more complex
C) conceptually different than; more simple
D) conceptually different than; more complex
E) conceptually the same; simplistic
An overly general mission statement that ________ could be dysfunctional.
A) does not exclude any strategy alternatives
B) encourages management creativity
C) excludes all diversification
D) endorses the consideration of feasible potential strategies
E) allows for the generation and consideration of a range of alternative objectives
Why is market segmentation an important variable in the strategy-implementation
process?
A) Company strategies do not require increased sales through new markets and
products.
B) It allows a firm to operate with no resources.
C) It directly affects marketing mix variables.
D) It allows a firm to minimize per-unit profits and per-segment sales.
E) All of the above