Remaining solely domestic is an increasingly safer strategy for U.S. companies.
Linear regression is based on the assumption that the future will be different from the
past.
Most quantitative evaluation criteria are geared to long-term objectives rather than
annual objectives.
While multinational corporations face almost limitless social, cultural, demographic,
environmental, political, governmental, legal, technological, and competitive
opportunities and threats, the number and complexity of these factors do not
dramatically increase with the number of products produced and the number of
geographic areas served.
Restructuring in many firms has made a manager’s job an invisible, thankless role.
Unlike strategy formulation, strategy implementation varies considerably among
different types and sizes of organizations.
Vision and mission statements can often be found in the front of annual reports.
Strengths of competitors in foreign lands are often ________, and weaknesses are often
________.
A) overestimated; overestimated
B) overestimated; underestimated
C) underestimated; underestimated
D) underestimated; overestimated
E) none of the above
What aims to balance long-term with short-term concerns, financial with nonfinancial
concerns, and internal with external concerns?
A) Contingency planning
B) The Balanced Scorecard approach
C) Taking corrective action
D) Benchmarking
E) Consonance
A standardized set of behaviors used to manage anxieties is called a
A) folktale.
B) rite.
C) metaphor.
D) ritual.
E) value.
All of the following are key questions that can reveal internal strengths and weaknesses
in the management department EXCEPT
A) Is the organization’s structure appropriate?
B) Are reward and control mechanisms effective?
C) Are the organization’s products positioned well against competing products?
D) Does the firm use strategic-management concepts?
E) Do managers delegate authority well?
When developing an organizational chart, you should
A) recommend dual titles for executives.
B) use the title “president” for the top executive of the firm.
C) make sure that the chief financial officer is not at the same level as the chief
operating officer.
D) have division presidents report to a chief operating officer.
E) have employees report to more than one person in the chain of command.
How should financial budgets be thought of?
A) As a tool for limiting expenditures
B) As a method for obtaining the most productive and profitable use of an
organization’s resources
C) As a method for rationing the profits from the past year
D) As a method for determining who should receive the largest pay raise
E) As a tool for forecasting future profits
Annually, ________ businesses in the U.S. fail.
A) exactly 100
B) less than 1,000
C) about 10,000
D) more than 100,000
E) almost 10 million
Which term refers to selling a division of an organization?
A) Joint venture
B) Divestiture
C) Concentric diversification
D) Liquidation
E) Horizontal integration
Just-in-time describes
A) implementing strategies just before bankruptcy.
B) delivering materials just as they are needed.
C) a scheduling method for meetings.
D) a personnel planning method.
E) a process for improving quality.
The lingering high underemployment rate in the U.S. is an example of a(n) ________
force affecting business.
A) social
B) economic
C) cultural
D) technological
E) historical
________ is NOT a major factor that commonly prohibits effective resource allocation.
A) Underprotection of resources
B) Organizational politics
C) Having vague strategy targets
D) A reluctance to take risks
E) A lack of sufficient knowledge
Most economists argue that protectionism ________ the world economy because it
________ trade among countries.
A) helps; inhibits
B) helps; encourages
C) harms; inhibits
D) harms; encourages
E) doesn’t impact; doesn’t affect
The world population is expected to grow to an estimated ________ billion in 2054.
A) 6
B) 7
C) 8
D) 9
E) 10
The lowest cost source for precision machinery is
A) Japan.
B) Sri Lanka.
C) Malaysia.
D) Europe.
E) Mexico.
Which phase of strategic management is called the action phase?
A) Strategy formulation
B) Strategy implementation
C) Strategy evaluation
D) Competing advantages
E) Measuring performance
What entails developing schematic representations that reflect how your products or
services compare to competitors’ on dimensions most important to success in the
industry?
A) Perceptual mapping
B) Market segmentation
C) Market penetration
D) Unrelated diversification
E) Capital budgeting
Military strategy is based on an assumption of ________, whereas business strategy is
based on an assumption of ________.
A) conflict; cooperation
B) conflict; competition
C) cooperation; conflict
D) competition; conflict
E) cooperation; competition
Today, boards of directors are composed mostly of
A) outsiders.
B) management.
C) union members.
D) company employees.
E) past executives.