Broad, precedent-setting decisions that guide or substitute for repetitive or
time-sensitive managerial decision making are called
A. Goals
B. Strategies
C. Objectives
D. Policies
Which group of strategic managers is responsible for overseeing the creation and
accomplishment of the company mission?
A. Front-line supervisors
B. Middle-managers
C. Board of directors
D. Employees
At what level do firms begin to emerge as global enterprises with global approaches to
production, sales, finance, and control?
A. Third
B. Fourth
C. Second
D. First
Firms in a declining industry should choose strategies that emphasize all but which one
of the following themes?
A. Focus on growing segments
B. Emphasize price cutting and promotion investment to drive out weaker competitors
C. Emphasize product innovation and quality improvement
D. Emphasize production and distribution efficiency
A _________ is an articulation of a simple criterion or characterization of what the
leader sees the company must become to establish and sustain global leadership.
A. Leader’s principle
B. Mission
C. Leader’s vision
D. Strategic intent
Long-term objectives are principally attained through:
A. Annual goals
B. Functional strategies
C. Short-term goals
D. Grand strategy
Which principle is embodied in the Civil Rights Act?
A. Distributive-justice
B. Difference
C. Fairness
D. Liberty
________ attempt to help managers “balance” the flow of cash resources among their
various businesses while also identifying the overall strategic purpose within the group
of businesses.
A. Growth techniques
B. Market share techniques
C. Portfolio techniques
D. Environment techniques
__________ are prevalent early in many new ventures.
A. Friendly sources
B. Professional venture capitalists
C. Informal venture investors
D. Angel investors
The ______ environment compromises factors that originate beyond and usually
irrespective of, any single firm’s operating situation.
A. Remote
B. Industry
C. Operating
D. Internal
A major consequence of the 2000-2002 accounting scandals was the ______ .
A. Sherman Antitrust Act
B. Waxman-Hatch Act
C. Enron Act
D. Sarbanes-Oxley Act
Which of the following is NOT a strategic approach suggested by the industry
attractiveness-business strength matrix?
A. Outsource management
B. Invest to grow
C. Invest selectively and manage for earnings
D. Harvest or divest for resources
The informal, intuitive and limited approach to strategic management associated with
owner-managers of smaller firm refers to the ____ mode of formality.
A. Entrepreneurial
B. Functional
C. Planning
D. Adaptive
Developing operating managers and supporting their activities occurs in middle
management as part of the:
A. Integration process
B. Renewal process
C. Innovation process
D. Entrepreneurial process
_________ is formally established based on the manager’s position in the organization.
A. Organization power
B. Reward power
C. Position power
D. Information power
In the BCG growth-share matrix, the ________ are businesses in rapidly growing
markets with large market shares.
A. Cash cows
B. Question marks
C. Stars
D. Dogs
________ responsibilities reflect the form’s obligations to comply with the laws that
regulate business activities.
A. Discretionary
B. Economic
C. Political
D. Legal
Firms from which country lead the way in “direct foreign investment” in the United
States?
A. Japan
B. India
C. China
D. United Kingdom
According to researchers, the grand strategies of retrenchment/turnaround are most
often accomplished in extreme circumstances through which of the following?
A. Cost reductions
B. Asset reductions
C. Changes in top management
D. Diversification
What type of industry growth intensifies competitive rivalry?
A. Fast growth
B. Moderate growth
C. Slow growth
D. Sporadic growth
Strategies used by firms competing in markets where the growth rate of that market
from year to year had reached or is close to zero are called ________ industry
strategies.
A. Mature
B. Growth
C. Emerging
D. Declining
The most compelling reason companies should diversify can be found in situations
where _______ can be leveraged with other products or into markets that are not a part
of where they were created.
A. cash
B. disruptive competencies
C. core competencies
D. finances
Which of the following is NOT an example of a quality of effective short-term
objectives?
A. Measurability
B. Priorities
C. Definition of the market
D. Linked to long-term objectives
Stock options have typically represented _______ of a CEO’s average pay package.
A. Less than 30 percent
B. Less than 50 percent
C. More than 50 percent
D. More than 90 percent
The evolution of a global corporation often entails progressively involved strategy
levels. What level has the minimal effect on existing product lines?
A. Foreign licensing
B. Export-import
C. Technology transfer
D. Direct investment
The degree to which participation, responsibility, authority and discretion in
decision-making are specified in strategic management is called:
A. Informality
B. Formality
C. Functional tactic
D. Dynamic mode
Rapid technological development:
A. Requires less management control
B. Has no affect on product life cycles
C. Lengthens product life cycles
D. Shortens product life cycles
Which of the following statements about public image is FALSE?
A. Negative public image often prompts firms to reemphasize the beneficial aspects of
their mission
B. The image the company seeks to project should be reflected in its mission
C. Firms always address the question of their public image in an intermittent fashion
D. Concern for public image is an important components of a firm’s mission
One of the limitations of the SWOT analysis is that it can ______ internal strengths and
______ external threats.
A. overemphasize; downplay
B. underemphasize; downplay
C. overemphasize; enhance
D. underemphasize; enhance
Description of the company’s product, market and technological areas of emphasis is
contained in the
A. Assessment of the external environment
B. Company profile
C. Company mission
D. Interactive opportunity analysis
“To achieve our vision, how will we sustain our ability to change and improve?” is part
of which perspective in the Balanced Scorecard?
A. Financial
B. Customer
C. Learning and growth
D. Internal business process
What is CCC21? How does it help Toyota?
If a firm wants to chart its progress internally, what method of comparison is
appropriate? Describe how this works.
How do power curves help assess industry structure?
Define strategic control. Give an example of strategic control from a managerial
perspective?
What are portfolio techniques? How do they help multibusiness firms?
How are companies encouraging intrapreneurs and intrapreneurship?.
Define strategic control. What questions does it help managers answer?
Who are the board of directors? What are their major responsibilities?
Briefly describe the process of defining the company mission for a specific business.
Define and briefly describe any five components of the strategic management model?
Define mission statement. Describe the importance of developing an explicit mission
statement.
What are the limitations of SWOT analysis?
What is patching? Describe patching and its corporate focus.
What are the strategic choices in growing industries?
How does low-cost leadership differ from a differentiation strategy and a focus
strategy?
Describe the impact of the Sarbanes-Oxley Act on the corporate governance structure?
Briefly match the appropriate type of bonus compensation to the strategic goal being
pursued. What is the rationale behind these match-ups?
When using the RBV, what four steps can help a firm gauge which resources truly have
strategic value?