Realizing ____ from shared capabilities and core competencies is a key way value is
added in multibusiness companies.
A. competencies
B. profits
C. synergies
D. resources
Difficulties in quantifying objectives can often be overcome by initially focusing on
_________ and then identifying _________.
A. Measurability; functions
B. Measurable activity; measurable outcomes
C. Measurable outcomes; measurable activity
D. Line units; measurable activity
A global planning process provides:
A. Cross purposes for subsidiaries
B. An ordered means for assembling, analyzing and distilling information
C. A means for misinformation to occur
D. Another information explosion
The primary niche for the market approach for exporting:
A. Begins with a mutually agreeable pooling of capital
B. Involves the transfer of some industrial property right
C. Is to modify select product performance or measurement characteristics to special
foreign demands
D. Utilizes a foreign branch extension to distribute
________ represents the least favorable situation, with the firm facing major
environmental threats from a weak resource position.
A. Cell 1
B. Cell 2
C. Cell 3
D. Cell 4
Whenever there is a separation of the owners (principals) and the managers (agents) of
a firm, the potential exists for the wishes of the ____ to be ignored.
A. owners
B. managers
C. employees
D. customers
Traditionally, the concept of _________ has been a description or picture of what the
company could be that accommodates the needs of all its stakeholders.
A. Mission
B. Vision
C. Strategy
D. Performance
The statement, “Our company is a global business system for which we raise capital to
make concentrate and sell it at an operating profit. Then we pay the cost of that capital.
Shareholders pocket that difference,” is an example of a
A. Leader’s principle
B. Mission
C. Leader’s vision
D. Strategic intent
A ______ is used to temporarily put people and resources where they are most needed.
A. Divisional organizational structure
B. Product-team structure
C. Matrix organizational structure
D. Functional organizational structure
In intense competition, competitors are characteristically:
A. Few
B. Of unequal power
C. Equal in size
D. Not foreign
To achieve long-term prosperity, strategic planners commonly establish objectives in
which of the following?
A. Profitability, employee relations and social responsibility
B. Acceptability
C. Flexibility
D. Joint ventures only
Mission statements should reflect the ____ expectations.
A. public’s
B. managers’
C. stockholders’
D. Board of Directors’
Which of the following are intended to provide benchmarks for the evaluation of the
company’s progress in achieving its aim?
A. Mission
B. Long-term objectives
C. Grand strategies
D. Business policies
_______ exist between different physical locations, countries or regions of the world
and between cultures.
A. Vertical boundaries
B. Geographic boundaries
C. External interface boundaries
D. Horizontal boundaries
__________ industries are those that make products or services for which demand is
growing slower than demand in the economy as a whole.
A. Mature
B. Declining
C. Growth
D. Emerging
Which of these approaches is also referred to as deontology?
A. Utilitarian
B. Moral rights
C. Economic man
D. Social Justice
Fair competition is a:
A. Customer claim
B. Creditor claim
C. Union claim
D. Competitor claim
The ___________ of functional tactics allows functional managers to adjust to
changing current conditions.
A. Shorter time horizon
B. Focus on growth
C. Specificity
D. Business focus
The mode associated with medium-sized firms in relatively stable environments is
called the _____ mode.
A. entrepreneurial
B. adaptive
C. business
D. planning
A revised mission will contain _____ components as the original.
A. the same
B. more
C. fewer
D. different
A(n) ______ is a major unfavorable situation in a firm’s environment.
A. Weakness
B. Core strength
C. Competitive disadvantage
D. Threat
In the increasingly hypercompetitive global economy today, distinctive competencies
and competitive advantages:
A. Are commonplace
B. Are a prerequisite to being in business for the short-term
C. Are particularly durable
D. Can fade quickly
Speed-based competitive advantage can be created around all of these activities
EXCEPT:
A. Customer responsiveness
B. Product development cycles
C. Information sharing and technology
D. Brand loyalty
A strength is _______ a source of competitive advantage.
A. not necessarily
B. always
C. never
D. seldom
Which key functional area and which strategy focus are critical at the decline stage of
the industry evolution?
A. Engineering; market penetration
B. Sales; consumer loyalty and market share
C. Production; successor products
D. Finance; maximum investment recovery
Which one of the following is NOT a typical belief that shapes organizational culture
A. A belief in being the best
B. A belief in superior quality and service
C. A belief that suppliers should reign supreme
D. A belief in the importance of informal communication
Which of these is NOT a basic option that can/should be used to pursue global market
coverage?
A. Licensing
B. Harvesting the business
C. Maintaining a domestic production base and exporting
D. Establishing foreign-based plants and distribution
In front-line management, creating and pursuing opportunities and managing
contiguous performance improvement is an example of the:
A. Integration process
B. Entrepreneurial process
C. Renewal process
D. Innovation process
Short-term objectives are usually:
A. Completed within two months
B. Quantitative
C. Qualitative
D. Set to be completed within five years
___________ is character driven.
A. Trust
B. Empathy
C. Communication
D. Organizational management
Company reputation is an example of a
A. Intangible asset
B. Tangible asset
C. Organizational capability
D. Organizational function
The grand strategy involving the acquisition of businesses that supply the firm with
inputs such as raw materials is termed:
A. Forward concentric diversification
B. Sequential horizontal integration
C. Backward vertical acquisition
D. Retrenchment
The process of defining the company mission for a specific business can be best
understood by
A. Thinking about the business at its inception
B. Looking at the industry attributes
C. Analyzing the regulatory requirements of what to include in a mission
D. Analyzing the most successful competitors in the marketplace
The _______ is an adaptation of the divisional structure whereby various divisions or
parts of divisions are grouped together based on some common strategic elements,
usually linked to distinct product/market differences.
A. Strategic business unit
B. Functional organizational structure
C. Holding company
D. Ambidextrous organization
Explain the premise for the resource-based view of the firm. How is this different from
other perspectives?
How can the resource-based view be used in internal analysis?
Discuss the three profound social changes in the recent years that affect the
performance of a firm.
What does an analysis of the sources and uses of funds do? How is this analysis done?
Discuss the idea that leaders shape organizational culture through their passion for the
enterprise and the selection/development of talented managers to be future leaders.
Identify and briefly explain the five factors in the operating environment.
How does the Internet influence structural trends today?
What is the grand strategy of innovation? How is it different from product innovation?
What implications can be drawn from viewing strategic management as a process?
Explain?
Describe incremental innovation and give an example of continuous improvement.
What is the premise behind the value disciplines proposed by Treacy and Wiersema?
Identify all three and discuss each briefly.
Why is clarifying performance expectations key to articulate strategic intent?
Describe three ways good leaders go about building the organization they want and deal
with problems that arise.
What is business process reengineering? How is it used today?
Identify and briefly describe the three indispensable components of the mission
statement.
Identify and briefly explain the lowest to the highest commitment strategies a firm may
have to international markets.
What factors affect a firm’s access to needed personnel?
What is a global industry? What are the unique strategy-shaping features of global
industries?
What is the matrix organizational structure?
Using an example, describe the grand strategy of horizontal acquisition.