__________ requires that the business have substantial advantages that allow it to
provide buyers with something uniquely valuable to them.
A. Cost strategy
B. Integration
C. Differentiation
D. Speed-based strategy
Which of these is one of Demming’s well-known points on quality?
A. Create dependence on mass inspections to achieve quality
B. Award business on the measure of price tag
C. Breakdown barriers between departments
D. Corporate transformation should be the responsibility of top management
The 2011 Japanese earthquake and tsunami would trigger what kind of control?
A. Strategic surveillance
B. Implementation control
C. Special alert control
D. Premise control
Targeting a particular segment of the industry for competition on a worldwide basis
refers to
A. Broad-line global competition
B. Protected niche strategy
C. National focus strategy
D. Global focus strategy
Policies counteract resistance to or rejection of chosen _______.
A. vision statements
B. strategies
C. mission statements
D. capabilities
The transfer of an industrial property right is called
A. Franchising
B. Licensing
C. Exporting
D. Bartering
What have strategists sought in frameworks besides SWOT for conducting internal
analysis?
A. They have sought to get less detail from other frameworks
B. They have sought that the frameworks be more comprehensive
C. They have sought a less generic framework
D. They have sought to better account for internal factors in light of external factors
The extent to which a business concentrates on a narrowly defined market, it is called
a(n) __________ strategy.
A. Integration
B. Market focus
C. Formula facility
D. Tightly managed decentralization
____________ is the effort to familiarize future leaders with the skills important to the
company and to develop exceptional leaders among the managers you employ.
A. Identifying an action plan
B. Education and leadership development
C. Developing principles
D. Creating passion
A _______ is one in which a set of relatively autonomous units are governed by a
central corporate office but where each operation has its own functional specialists who
provide products or services that are different from those of other operations.
A. Divisional organizational structure
B. Matrix organizational structure
C. Functional organizational structure
D. Product-team structure
As a long-term strategy, this minimizes the loss to all stockholders of the firm:
A. Concentrated growth
B. Divestiture
C. Turnaround
D. Liquidation
According to research, the primary vehicle for achieving superior financial performance
from social responsibility is via
A. Gift giving
B. Global marketing efforts
C. Internal audit effects
D. Reputation effects
According to the _____ principle, individuals should not be treated differently on the
basis of arbitrary characteristics such as race, sex, religion or national origin.
A. Natural duty
B. Difference
C. Fairness
D. Distributive-justice
Which of the following is an example of a grand strategy?
A. Decentralization
B. Policy making
C. Conglomerate integration
D. Horizontal integration
When we consider the level of disposable income, we are normally considering:
A. Technological factors
B. Economic factors
C. Political factors
D. Social factors
When using the BCG growth-share matrix, the dividing point for the growth rate of an
industry in constant dollars is typically:
A. The market’s growth rate
B. The consumer price index
C. The growth rate of the gross domestic product (GDP)
D. The growth rate of the gross national product (GNP)
_________ are those that have few sources of advantage, but the size is large–typically
the result of scale economies.
A. Volume businesses
B. Stalemate businesses
C. Specialization businesses
D. Fragmented businesses
Backloaded compensation refers to
A. Board of directors getting back stock as compensation
B. Executives receiving handsome premium for superior future performance
C. Suppliers getting bonuses for organization’s performance
D. Managers getting bonuses for past performances
Corporate strategists found the growth-share matrix’s singular axes
A. Limiting in their ability to reflect the complexity of a business’s situation
B. A good way to simplify the complexity of a business’s situation
C. A good reflection of the simplistic nature of most corporate-level decisions
D. To difficult to manipulate
A common measure of shareholder wealth creation is appreciation of company
A. revenues
B. stock price
C. employees
D. stockholders
When diversification involves additions of a business related to the firm in terms of
technology, markets or products, it involves:
A. Concentrated growth
B. Horizontal integration
C. Concentric diversification
D. Vertical diversification
___________ is a key for any leader.
A. Motivation
B. Empathy
C. Trust
D. Self-management
One way operating managers _____ is through the use of policies.
A. outsource
B. strategize
C. politicize
D. empower
A ________ is designed to provide benefits of direct executive stock ownership.
A. Restricted stock plan
B. Cash based plan
C. Golden parachute
D. Golden handcuffs plan
The pressure for quarterly profits in many U.S. companies stifles innovative behavior.
However, investment in intrapreneurial activity requires:
A. No hand-offs
B. Self-selection
C. Patient money
D. Corporate slack
_________ are available for a very select few new ventures that have usually gone
through the other three sources of equity capital first.
A. Stock options
B. Public stock offerings
C. Venture capitalists
D. Friendly sources
When an individual with an idea has only one person to consult or one channel to
inquire into for developing the idea, innovation can be stifled. Intrapreneurship is:
A. Better than entrepreneurship, especially when there are many options for pursuing
ideas
B. Inhibited when people have too many options for discussing or pursuing innovative
ideas
C. Encouraged when people have many options for discussing or pursuing innovative
ideas
D. Easily achieved with only one or two options
Which of the following is a generic strategy developed by Michael Porter?
A. Market development
B. Differentiation
C. Liquidation
D. Innovation
Some firms assign ____ to establish and communicate the relative priority of
objectives.
A. rewards
B. objectives
C. weights
D. policies
In which of these orientations is repatriations of profits to home country a key priority?
A. Polycentric
B. Ethnocentric
C. Geocentric
D. Regioentric
If price ceilings exist, substitute products are limited, unless:
A. The quality of the product can be reduced
B. The quality of the product can be upgraded
C. The quantities of the product available can be increased
D. The product cannot be differentiated
Which of these represent marketing capabilities at the decline state of industry
evolution?
A. Skills in aggressively promoting products to new markets and holding existing
markets and pricing flexibility
B. Ability to establish brand recognition, find niche, reduce price, solidity strong
distribution relations and develop new channels
C. Cost effective means of efficient access to selected channels and markets and strong
customer loyalty or dependence
D. Resources/skills to create widespread awareness and find acceptance from
customers; advantageous access to distribution
The ______ significance of policies can vary.
A. visionary
B. routine
C. strategic
D. important
Discuss the framework for managing the strategy-culture relationship that leaders face.
Explain the difference between primary activities and support activities and give
examples of both.
How are the entrepreneurial, planning, and adaptive modes different?
What are three important qualities of effective short-term objectives? Briefly describe
each of these in your answer.
What is the purpose of benchmarking? How else can a firm evaluate itself against its
industry?
How is environmentalism driving corporate social responsibility?
What is the Six Sigma approach to fostering innovation?
Identify and briefly explain the newest trends in mission components.
What is a global industry? What are the reasons strategic management planning must be
global?
What factors affect how a leader can manage organizational culture in a global context?
What are strategic alliances? What are their advantages and disadvantages?
Describe and evaluate the concept of self-management.
Identify and discuss the steps common to all postaction controls.
How is a vision statement different from a mission statement?
What factors contribute to the increased complexity of the global environment?
Explain.
Discuss the benefits of a participative approach to strategic management?