Mexican workers expect and desire a work environment in which self-expression and
initiative are encouraged.
Successful strategy formulation generally rests upon the ability of an organization to
sell some product or service.
Vision and mission statements can often be found in the front of annual reports.
The need to amortize massive R&D investments over many markets is a major reason
why the aircraft manufacturing industry became global.
Apartment complexes for the elderly have increased across the United States.
The percentage of persons age 65 or older exceeds 20 percent in Japan, Italy, and
Germany.
The first social responsibility of any business must be to make enough profit to cover
the costs of the future because if this is not achieved, no other social responsibility can
be met.
Strategy implementation is often considered to be the most difficult stage in the
strategic-management process because it requires personal discipline, commitment, and
sacrifice.
The year 2010 saw a 13 percent increase in mergers and acquisitions in the U.S.
Stage 2 in the strategy-formulation framework involves the Quantitative Strategic
Planning Matrix.
A mission statement is usually just a simple statement of specific details.
The first stage of the strategy-formulation framework is the input stage, and it is
directly followed by the decision stage.
One of the four recommended approaches for determining a firm’s worth is to base the
analysis on the selling price of a similar company.
According to researchers, all of the following encourage individuals to accept change
EXCEPT
A) when they have a cognitive understanding of the changes
B) when they have a sense of control over the situation
C) when they have an awareness that necessary actions are going to be taken to
implement change
D) when they participate in strategy-evaluation activities
E) when the nature, types, and speed of changes overpower their ability and capacity to
adapt
Effective mission statements can vary in
A) length.
B) content.
C) format.
D) specificity.
E) all of the above
Which of the following is most likelyNOT included in the functional level of a small
company?
A) Finance
B) Marketing
C) R&D
D) Department managers
E) Human resource managers
Exports of goods and services from the U.S. were valued at $1.6 trillion in 2009, which
accounted for ________ percent of the U.S. gross domestic product.
A) 5
B) 11
C) 25
D) 31
E) 51
President Obama recently said, “________ progress in just two decades is one of the
most stunning achievements in human history.”
A) the Philippines’
B) India’s
C) Taiwan’s
D) Brazil’s
E) China’s
Which of the following is a potential advantage of conducting international operations?
A) Competitors in foreign markets may not exist, or competition may be less intense
than in domestic markets.
B) Dealing with two or more monetary systems can complicate international business
operations.
C) Differing language, culture, and value systems can make communication difficult.
D) Gaining an understanding of regional organizations is difficult but is often required
in doing business internationally.
E) All of the above
What occurs when two or more companies form a temporary partnership or consortium
for the purpose of capitalizing on some opportunity?
A) Retrenchment
B) A joint venture
C) Liquidation
D) Forward integration
E) Divestiture
Business ethics, _______, and sustainability issues are interrelated and impact all areas
of the comprehensive strategic-management model.
A) social responsibility
B) social networking
C) fiscal irresponsibility
D) cultural indifference
E) None of the above
What category of ratios includes return on total assets and return on stockholders’
equity?
A) Leverage
B) Activity
C) Profitability
D) Growth
E) Liquidity
Synergy
A) is the 2 + 2 = 5 effect.
B) can result in powerful competitive advantages.
C) can be developed by an organization through planning.
D) exists when everyone pulls together as a team that knows what it wants to achieve.
E) all of the above
Which two variables rank as marketing’s most important contributions to strategic
management?
A) Diversification and budgeting.
B) Marketing penetration and competition.
C) Competition and collaboration.
D) Product development and market development.
E) Market segmentation and product positioning.
What happens when interest rates rise?
A) Discretionary income increases
B) The demand for discretionary goods increases
C) Discretionary income is unchanged
D) The demand for discretionary goods decreases
E) Discretionary income increases and the demand for discretionary goods decreases