The element of surprise provides great competitive advantages in both military and
business strategy.
Additional capital is often required for successful strategy implementation.
Retrenchment and turnaround are the same strategy.
The middle manager is the most visible and critical strategic manager.
A SWOT Matrix is composed of four cells for the four types of strategies it creates.
The Internal Factor Evaluation Matrix should include from 10 to 20 internal factors.
In 2011, Walt Disney, Starbucks, and Fiat were the three most admired socially
responsible companies according to Fortune magazine.
Strategy-evaluation activities must be meaningful, that is, they should specifically relate
to a firm’s objectives.
An effective mission statement generates the impression a firm is successful, has
direction, and is worthy of time, support and investment.
Linkages between a firm’s culture and strategies often determine success.
Integrating ethical decision making into the performance appraisal process is one way
that firms can align ethical and strategic decision making.
According to George Steiner, vagueness has no place in a good mission statement.
According to research, participation in strategy-evaluation activities is one of the best
ways to overcome individuals’ resistance to change.
Strategic objectives include larger market share, quicker on-time delivery than rivals,
shorter design-to-market times than rivals, lower costs than rivals, and wider
geographic coverage than rivals.
While interesting, organizational culture does not significantly affect business
decisions.
Starbucks reaching a deal with Green Mountain Coffee Roasters for that firm to sell
packs of Starbucks Tazo-branded coffee and tea in their brewers is an example of which
type of strategy?
A) Forward integration
B) Backward integration
C) Horizontal integration
D) Related diversification
E) Unrelated diversification
Which of the following statements is true?
A) The pay of the CEO of a Japanese company is about half the pay of the CEO of an
American company.
B) The CEO of a Japanese company earns more than the CEO of a European company.
C) In Japan, individual excellence is emphasized over harmony among managers.
D) Seniority rather than performance has been the key factor in determining pay in
Japan.
E) All of the above
The two internal dimensions represented on the axes of the SPACE Matrix are
A) stability position and industry position.
B) industry position and internationalization.
C) internationalization and competitive position.
D) competitive position and financial position.
E) financial position and stability position.
Empirical indicators are resources that are either rare, hard to imitate, or
A) expensive.
B) inexpensive.
C) easily substitutable.
D) not easily substitutable.
E) inefficient.
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 strategy-evaluation process should foster
A) mutual understanding.
B) doubt.
C) corporate culture.
D) complexity.
E) division.
The world population that lives outside of the U.S. is growing ________ the U.S.
population.
A) 25 percent slower than
B) 70 percent slower than
C) 25 percent faster than
D) 70 percent faster than
E) at the same rate as
All stakeholders
A) have claims and concerns about an organization, but these claims and concerns vary.
B) have the same claims and concerns about an organization.
C) have ownership rights in an organization.
D) have the same voting rights in an organization.
E) have environmental concerns as their top priority.
What is the highest number of strategies that can be examined at one time with the
QSPM?
A) 1
B) 2
C) 5
D) 10
E) There is no limit.
What percent of the world’s population lives outside the United States?
A) 55
B) 65
C) 75
D) 85
E) 95
The Robinson-Patman Act affects a company’s
A) pricing.
B) product/service planning.
C) customer analysis.
D) marketing research.
E) distribution.
Business or military success is
A) generally the happy result of accidental strategies.
B) undermined by the element of surprise.
C) the product of both attention to changing external and internal conditions and the
insightful adaptations to those conditions.
D) unrelated to external conditions.
E) none of the above.
The mission statement answers which question?
A) What is our business?
B) How can we improve ourselves?
C) What do we want to become?
D) Who are our stakeholders?
E) How can we increase profitability?
Mergers and acquisitions are created for all of the following reasons EXCEPT to
A) gain new technology
B) reduce tax obligations
C) gain economies of scale
D) smooth out seasonal trends in sales
E) increase the number of employees
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 ________ opportunities and threats that face a multinational corporation are almost
limitless.
A) social
B) cultural
C) environmental
D) political
E) all of the above
Which strategies aim at improving internal weaknesses by taking advantage of external
opportunities?
A) SO
B) WO
C) SW
D) ST
E) WT
The goal of strategic management is to
A) achieve competitive advantage.
B) maintain competitive advantage.
C) achieve and maintain competitive advantage.
D) eliminate competitive advantage.
E) eliminate and abolish competitive advantage.
Which of the following is NOT a reason joint ventures fail?
A) Managers who must collaborate daily in operating the venture are not involved in
forming or shaping the venture.
B) The venture may not be supported equally by both partners.
C) The venture may benefit the partnering companies but may not benefit the customers
who then complain about poorer service or criticize the companies in other ways.
D) Stakeholders from both partners are equally satisfied.
E) The venture may begin to compete more with one of the partners than the other.
Compare and contrast strategic planning with strategic management.
List some guidelines for when forward integration would be a particularly good strategy
to pursue.
Discuss how work life/home life balance is being addressed by organizations.
Discuss Michael Porter’s five generic strategies.
Discuss how Japan is dealing with problems associated with an aging and shrinking
workforce.
Define and discuss the differences between vision and mission statements.
Compare and contrast two of Rumelt’s four criteria for evaluating strategies.