Strategic objectives include those associated with growth in revenues, growth in
earnings, higher dividends, larger profit margins, and improved cash flow.
A potential advantage to initiating, continuing, or expanding international operations is
that foreign operations can absorb excess capacity, reduce unit costs, and spread
economic risks over a wider number of markets.
More and more firms believe that ethics training and an ethics culture create strategic
advantage.
Corrective action in strategy evaluation is necessary to keep an organization on track
toward achieving stated objectives.
The understanding of Asian cultures is a strength U.S. firms have in competing with
Pacific Rim firms.
Under which condition would a differentiation strategy be especially effective?
A) when there are few ways to differentiate the product or service that buyers perceive
as having value
B) when technological change is fast paced and competition revolves around rapidly
evolving product features
C) when most buyers use the product in the same way
D) when many rival firms are following a similar differentiation approach
E) when the differentiation base is easy or inexpensive for rivals to duplicate
A firm’s power and prestige in domestic markets may be significantly enhanced if the
firm competes globally
A) which can translate into improved negotiating power among important groups.
B) though this rarely results in a practical advantage.
C) but this can hurt its bargaining power with suppliers and distributors.
D) yet this does nothing to improve its position with creditors.
E) which can alienate the firm from its domestic creditors, suppliers, and distributors.
According to Porter, which strategy offers products or services to a niche group of
customers at the lowest price available on the market?
A) Cost Leadership – Low Cost
B) Cost Leadership – Best Value
C) Focus – Low Cost
D) Focus – Best Value
E) Differentiation
With the passage of time strategy evaluation is becoming
A) increasingly difficult.
B) much simpler.
C) very convenient.
D) an unnecessary activity.
E) less important.
Integration strategies are sometimes collectively referred to as which of the following
categories of strategies?
A) Horizontal integration
B) Diversification
C) Vertical integration
D) Stuck-in-the-middle
E) Hierarchical integration
Which of the following is NOT a published source of external strategic information?
A) periodicals
B) television programs
C) journals
D) reports
E) directories
Protectionism involves countries doing all of the following EXCEPT
A) levying tariffs against firms outside the country.
B) imposing taxes on firms outside the country.
C) imposing regulations on firms outside the country.
D) restricting imports from firms outside the country.
E) liberalizing restrictions on the import of foreign goods.
Conflict in an organization is
A) always bad.
B) always good.
C) not always bad.
D) a sign of bankruptcy.
E) completely avoidable.
Which element in the projected income statement CANNOT be forecasted using the
percentage-of-sales method?
A) Cost of goods sold
B) Selling expense
C) Administrative expense
D) Interest expense
E) All of these items can be forecasted using the percentage-of-sales method.
What is the essential bridge between the present and the future that increases the
likelihood of achieving desired results?
A) Motivating
B) Planning
C) Controlling
D) Staffing
E) Organizing
Which is a rule from the Wall Street Journal article “The New Rules of Flirting”?
A) Do not flirt within a relationship that you want to strengthen.
B) Do flirt with someone you know is looking for a relationship if you are not
interested in a new relationship.
C) Do flirt to make your partner jealous.
D) Flirting between power differences, such as boss and employee, is usually fine.
E) Do not make physical contact with the person you are flirting with, unless it is within
a desired relationship.
Define and give an example, where available, of three integrative strategies.
List three opportunities and three threats that could represent key factors facing your
college or university.
What is business analytics and why is it so important in businesses today?
Define and give an examples of three intensive strategies.
Define and give an example of the self-concept component in a mission statement.
Compare and contrast business and military strategy.
Compare and contrast Ralph Nader’s and Milton Friedman’s positions on social
responsibility. With whose view do you agree?