Recruitment, promotion, and mentoring are ways to alter an organization’s culture.
Well-run organizations are able to completely avoid conflict.
Cooperative arrangements and joint ventures are being used increasingly.
Weaknesses of competitors in foreign lands are often underestimated, and strengths are
often overestimated.
In today’s global climate, many companies may find it difficult to survive by relying
solely on domestic markets.
Good mission statements identify the utility of a firm’s products to its customers.
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
The match an organization makes between its internal resources and skills and the
opportunities and risks created by its external factors can be defined as
A) input.
B) concept formulation.
C) strategy.
D) SWOT.
E) weakness.
It is predicted that the United States will have how many racial or ethnic majorities by
the year 2075?
A) None
B) One
C) Two
D) Three
E) Five
The strategy-evaluation process should foster
A) mutual understanding.
B) doubt.
C) corporate culture.
D) complexity.
E) division.
According to Campbell and Yeung, what is/are most likely associated with behavior and
the present?
A) Mission
B) Values
C) Long-term objectives
D) Vision
E) Possibilities
________, perhaps the most important word in management, is a major component in
motivation.
A) Forecasting
B) Organizational structure
C) Recruiting
D) Management development
E) Communication
All of the following are political, governmental, and legal variables that can represent
key opportunities or threats to organizations EXCEPT
A) special tariffs.
B) environmental protection laws.
C) world oil, currency, and labor markets.
D) legislation on equal employment.
E) population changes by race, age, sex, and level of affluence.
What can be used to promote unbiased views and to manage the development of the
mission statement more effectively?
A) An internal group
B) A committee of managers
C) Command-and-control
D) Surveys
E) An outside facilitator
Which component of a mission statement addresses the firm’s distinctive competence or
major competitive advantage?
A) Technology
B) Philosophy
C) Concern for public image
D) Customers
E) Self-concept
Financial ratios are used to compare a firm’s performance over different time periods, to
compare the firm’s performance to industry averages, and to compare a firm’s
performance with
A) overall business standards.
B) projected goals.
C) the performance of suppliers.
D) non-financial ratios.
E) the performance of competitors.
The attitude of U.S. firms toward research and development is best described by which
of the following?
A) The veil of secrecy is being lifted, resulting in more collaboration.
B) Firms are more cutthroat than ever and less cooperative with each other.
C) Firms are less interested in working with universities.
D) Firms are feeling less competitive pressure.
E) Firms are less involved with research consortia than ever.
Glass ceiling refers to
A) the reality that most companies do not offer paternity leave for fathers as a benefit.
B) the understanding that a good home life for employees contributes to a good work
life and value for the firm.
C) the focus on flexible scheduling, job sharing, and other quality of life benefits.
D) the invisible barrier in many firms that bars women and minorities from top-level
management positions.
E) the decline in the percentage of women with college degrees between 1970 and
today.
Modern organizational realities demand that employees demonstrate greater
A) flexibility.
B) innovation.
C) creativity.
D) initiative.
E) all of the above
All of the following are potential advantages to initiating, continuing, and/or expanding
international operations EXCEPT
A) firms can gain new customers for their products.
B) foreign operations can absorb excess capacity, reduce unit costs, and spread
economic risks over a wider number of markets.
C) foreign operations can allow firms to establish low-cost production facilities in
locations close to raw materials and/or cheap labor.
D) foreign operations could be seized by nationalistic factions.
E) foreign operations may result in reduced tariffs, lower taxes, and favorable political
treatment.
Why is market segmentation an important variable in the strategy-implementation
process?
A) Company strategies do not require increased sales through new markets and
products.
B) It allows a firm to operate with no resources.
C) It directly affects marketing mix variables.
D) It allows a firm to minimize per-unit profits and per-segment sales.
E) All of the above
Which of the following companies ranks among those against whom some of the largest
payouts for class-action legal fraud suits ever were judged?
A) AOL Time Warner
B) Walt Disney
C) Starbucks
D) Herman Miller
E) Edison
Strategic management focuses on integrating management, ________, and information
systems to achieve organizational success.
A) marketing
B) finance and accounting
C) production and operations
D) research and development
E) all of the above
Market commonality can be defined as
A) the number and significance of markets that a firm competes in with rivals.
B) the number and significance of points in common a firm has with its rivals.
C) the extent to which the type of a firm’s internal resources are comparable to a rival.
D) the extent to which the amount of a firm’s internal resources are comparable to a
rival.
E) none of the above
According to journalists’ findings, what is a serious obstacle for many small business
owners?
A) A lack of business ethics
B) An excess of employees and managerial staff
C) A lack of experience in networking
D) A lack of strategic-management knowledge
E) Having too many suppliers
Financial objectives involve all of the following EXCEPT
A) growth in revenues.
B) larger market share.
C) higher dividends.
D) greater return on investment.
E) a rising stock price.