Objectives provide direction and allow for organizational synergy.
A vision statement identifies the scope of a firm’s operations in product and market
terms.
Strategies clarify what can and cannot be done in pursuit of an organization’s
objectives.
A task force of managers from different units of the organization, supported by staff,
should be charged with determining the 20 most important strengths and weaknesses
that should influence the future of the organization.
While outsourcing manufacturing, tech support, and back-office work is quite common,
it is still unheard of for companies to outsource product design.
IFRS standards comprise 25,000 pages, whereas GAAP standards comprise 5,000
pages.
The operating philosophy of organizations should be to develop a product and then try
to find a market for it.
Internal ________ are controllable activities in an organization that are performed
especially well.
A) opportunities
B) incompetencies
C) strengths
D) objectives
E) factors
Without assumptions, planning would be
A) impossible.
B) easier.
C) difficult.
D) inexpensive.
E) intuitive.
In the BCG Matrix, a division with a high relative market share position in a
low-growth industry can be described as a
A) Star.
B) Cash Cow.
C) Question Mark.
D) Dog.
E) Failure.
Which of these is true about strategy implementation?
A) It is positioning forces before the action.
B) It focuses on effectiveness.
C) It is primarily an operational process.
D) It is primarily an intellectual process.
E) It requires intuitive skills.
Which board of director’s duty falls under the category of control and oversight over
management?
A) select new directors
B) pass bylaws and related resolutions
C) select the CEO
D) maintain good public image
E) ensure equitable stockholder representation
All of the following are examples of marketing decisions that may require policies
EXCEPT
A) to be a market leader or follower.
B) how to make advertisements more interactive to be more effective.
C) to offer a complete or limited warranty.
D) to use heavy, light, or no TV advertising.
E) to use exclusive dealerships or multiple channels of distribution.
In the BCG Matrix, a division that has a low relative market share position and
competes in a slow-growth industry is referred to as a
A) Dog.
B) Question Mark.
C) Star.
D) Cash Cow.
E) Cowboy.
U.S. managers in Japan have to be careful about ________, whereby Japanese workers
expect supervisors to alert them privately of changes rather than informing them in a
meeting.
A) feng shui
B) nemaswashio
C) Wa
D) guanxi
E) inhwa
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.
________ allows firms to sell products, advertise, purchase supplies, bypass
intermediaries, track inventory, and eliminate paperwork.
A) Social networking
B) E-commerce
C) Blogging
D) Viral video
E) “Trading down”
When developing a mission statement, what is needed before people can focus on
specific strategy formulation activities?
A) Negotiation
B) Compromise
C) Eventual agreement
D) A and B only
E) All of the above
What step in the strategic development process involves mobilizing employees and
managers to put strategies into action?
A) Strategy formulation
B) Strategy evaluation
C) Strategy implementation
D) Strategic advantage
E) Competitive advantage
Which of the three finance and accounting decisions concerns determining the best
capital structure for the firm and includes examining various methods by which the firm
can raise capital?
A) Investment
B) Dividend
C) Financing
D) Capital budgeting
E) Implementation
Most quantitative criteria are geared to ________ objectives rather than ________
objectives.
A) top-management; employee
B) short-term; annual
C) annual; long-term
D) environmental; community
E) long-term; short-term
________ recently cut its corporate tax rate by five percentage points, leaving
________ with the highest corporate tax rate among all the nations in the world.
A) The USA; Brazil
B) Brazil; Japan
C) Japan; Brazil
D) Brazil; the USA
E) Japan; the USA
What principle is based on the belief that the true measure of a really good strategist is
the ability to solve problems?
A) Managing by crisis
B) Managing by objectives
C) Managing by extrapolation
D) Managing by exception
E) Managing by hope