According to the Convention on the International Trade in Endangered Species
(CITES), more than 25,000 elephants are killed each year for their ivory-even though
international trade in ivory has been outlawed since 1989.
Most producers today sell their goods directly to consumers.
It is vital that strategists always consider all feasible alternatives that could benefit the
firm.
Forecasts are educated assumptions about future trends and events.
One R&D strategy is to be an innovative imitator of successful products.
In socialist countries such as France or Belgium, the only grounds for immediate
dismissal from work is a criminal offense.
The lack of monetary rewards is one reason managers do not engage in strategic
planning.
Workplace romance and sexual harassment are synonymous.
Small, nonprofit organizations never develop mission statements.
Differentiation guarantees competitive advantage.
By 2050, the Census Bureau projects that the number of Americans age 100 and older
will dramatically decrease.
The Balanced Scorecard approach deals with the question, “How satisfied are the firm’s
customers?”
Organizations never develop their own projections.
According to Roger Schroeder, which basic function within production and operations
deals with aggregate planning and scheduling?
A) Capacity
B) Inventory
C) Workforce
D) Process
E) Quality
Which of the following is true about two different market segments?
A) They can usually be served with the same marketing strategy.
B) They usually require different marketing strategies.
C) They are always in different geographic locations.
D) They are usually interchangeable.
E) All of the above
In an effort to manage ecological challenges, many companies are
A) moving environmental affairs from the staff side of the organization to the line side.
B) moving environmental affairs from the line side of the organization to the staff side.
C) making the chief operating officer report directly to the corporate environmental
group.
D) omitting an environmental representative from their board of directors.
E) purging environmental values from their mission statements.
The responsibilities of a director of competitive analysis include all of the following
EXCEPT
A) researching special issues.
B) disseminating information on a timely basis.
C) recognizing what information is important and who needs to know.
D) conducting corporate espionage.
E) analyzing data.
The form of bankruptcy in which all the organization’s assets are sold in parts for their
tangible worth is
A) Chapter 7.
B) Chapter 8.
C) Chapter 9.
D) Chapter 11.
E) Chapter 13.
What is a limitation of using financial budgets?
A) They can be so detailed that they are cumbersome and expensive.
B) They can become a substitute for objectives.
C) They can hide inefficiencies if done only on precedent.
D) They are sometimes used as instruments of tyranny.
E) All of the above
________ can reveal the demographic characteristics of an organization’s customers.
A) Customer profiling
B) Test marketing
C) Market development
D) The vision statement
E) Telemarketing
According to Webster’s New World Dictionary, ________ is “the science of planning
and directing large-scale military operations, of maneuvering forces into the most
advantageous position prior to actual engagement with the enemy.”
A) competitive advantage
B) war
C) strategy
D) formulation
E) business
Businessweek reports that firms using mission statements have a ________ percent
higher return on certain financial measures than those without such statements.
A) 10
B) 15
C) 30
D) 45
E) 50
There are annually more than 10,000 mergers in the United States that total more than
A) $700 billion.
B) $825 billion.
C) $975 billion.
D) $1 trillion.
E) $3 trillion.
The process of developing a vision and mission statement often includes which of these
as the first activity?
A) Requesting that managers modify the current document
B) Asking managers to read selected articles about mission statements
C) Asking managers to prepare a mission statement for the organization
D) Having a brainstorming session on whether the organization should have a mission
statement
E) Merging several mission statements into one document
What marketing function includes test marketing?
A) Selling products and services
B) Pricing
C) Customer analysis
D) Product and service planning
E) Distribution
Which of the following is a management issue central to strategy implementation?
A) Devising policies
B) Revising reward and incentive plans
C) Minimizing resistance to change
D) Developing an effective human resources function
E) All of the above
The process of performing an external audit needs to include
A) only top level managers, as it is a planning function.
B) as many managers and employees as possible.
C) primarily front-line supervisors.
D) between 15 to 20 managers for it to be valid.
E) stockholders and external government agencies.
Which of these is the most common type of budgeting time frame?
A) Daily
B) Quarterly
C) Annual
D) Every decade
E) Monthly
All of the following are reasons to be completely open as opposed to secretive with the
strategy process EXCEPT
A) Managers, employees and other stakeholders can readily contribute to the process.
B) Stakeholders have greater basis for understanding and committing to a firm that is
open.
C) All levels of today’s workforce exhibit increased education and diversity, making
such contributions valuable.
D) Participation and openness enhance understanding, commitment and communication
within the firm.
E) Openness limits rival firms from imitating or duplicating the firm’s strategies.
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.
Which of the following is the first step in developing a QSPM?
A) Compute the Total Attractiveness Scores.
B) Examine the Stage 2 matrices and identify alternative strategies the organization
should consider implementing.
C) Assign weights to each key external and internal factor.
D) Determine the Attractiveness Scores.
E) Make a list of the firm’s key external opportunities and threats and internal strengths
and weaknesses in the left column of the QSPM.
Increased education and diversity of the workforce at all levels are reasons why
A) the top-down approach is preferred.
B) the bottom-up approach is untenable.
C) only top executives have the experience and acumen to make strategy decisions.
D) middle- and lower-level managers, and even nonmanagers, should be involved in the
strategic planning process.
E) the horizontal approach is the most pragmatic choice.