Archives: Quiz

The chief difference between a low-cost leader strategy and a focused low-cost strategy is A. whether the product is strongly differentiated or weakly differentiated from rivals. B. the degree of bargaining power that buyers have. C. the size of the […]

Acquisition of an existing business is an attractive strategy option for entering a promising new industry because it A. is an effective way to hurdle entry barriers, is usually quicker than trying to launch a new start-up operation, and allows […]

A companys values concern A. whether and to what extent it intends to operate in an ethical and socially responsible manner. B. how aggressively it will seek to maximize profits and enforce high ethical standards. C. the beliefs and operating […]

A company resource weakness or competitive deficiency A. represents a problem that needs to be turned into a strength because weaknesses prevent a firm from being a winner in the marketplace. B. causes the company to fall into a lower […]

The “driving forces” in an industry A. are usually triggered by changing technology or stronger learning/experience curve effects. B. usually are spawned by growing demand for the product, the outbreak of price-cutting, and big reductions in entry barriers. C. are […]

Which of the following is not a typical reason for a company to expand into the markets of foreign countries? A. To gain access to new customers B. To strengthen its capability to employ offensive strategies, especially those that involve […]

A company’s competitive strategy should A. be well matched to its internal situation and predicated on leveraging its collection of competitively valuable resources and competencies. B. be aligned toward being at least an average performer within the industry. C. be […]

Which one of the following is not a reasonable option for deploying a diversified company’s financial resources? A. Making acquisitions to establish positions in new businesses or to complement existing businesses B. Concentrating most of a company’s financial resources in […]

The options for internally performed value chain activities and improve a company’s cost competitiveness include: A. investing in productivity-enhancing, cost-saving technological improvements. B. outsourcing internally performed activities to those able to perform the activities at a lower cost. C. implementing […]

The payoff of good scouting reports on rivals is improved ability to A. predict what strategic moves rivals are likely to make next, thereby allowing a company to prepare defensive countermoves and develop strategies to exploit rivals’ missteps. B. determine […]

The aim of the best-cost provider strategy is to create a competitive advantage by A. incorporating attractive or upscale product attributes at a lower cost than rivals. B. offering buyers the industry’s best-performing product at the best cost and best […]

Which one of the following is not an accurate attribute of an organization’s strategic vision? A. A clearly articulated view of “where we are going” B. Describing the company’s future product-customer-market-technology focus C. Pointing an organization in a particular direction […]

Which one of the following is not a substantive culture-changing action that a company’s managers can undertake to alter a problem culture? A. Promoting individuals who have stepped forward to advocate the shift to a different culture and who can […]

Which of the following is not a common trait of an unhealthy company culture? A. A politicized internal environment B. Hostility to change and a wariness of people who champion new ways of doing things C. An aversion to looking […]

Which of the following is not a major question to ask in thinking strategically about industry and competitive conditions in a given industry? A. How many companies in the industry have good track records for revenue growth and profitability? B. […]

A ________ is one where there is an owner and usually a few employees where the arrangement of tasks, responsibilities and communication is highly informal and accomplished through direct supervision. A. Matrix structure B. Functional structure C. Strategic business unit […]

The second phase of the turnaround process is called: A. Recovery response B. Turnaround C. Retrenchment D. Divestiture Which of the following illustrates what it means to utilize a functional perspective? A. Looking at different functional areas of the firm, […]

If a corporations has a(n) ______ orientation, then the culture of the country in which a strategy is to be implemented is allowed to dominate the decision-making process. A. Polycentric B. Ethnocentric C. Regiocentric D. Geocentric Which of the following […]

Organizational sources of power are derived from: A. The manager’s tenure at the firm B. The manager’s role in the organization C. The manager’s style of working individually D. The manager’s functional tactics When entrepreneurs can sell their product or […]

The idea that the firm must know itself is the essence of the company A. Self-concept B. Objective C. Goal D. Strategy Which of the following qualities of an objective improves its chances of being attained? A. Timeliness B. Flexibility […]

The important assumptions shared by members of an organization are often: A. Very similar to all other organizations in that industry B. Very obvious to outsiders C. Unstated D. Formalized Asif was one of the most charismatic managers at Titan […]

Major efforts to improve traditional organizational structures seek to _______ and _______. One key emphasis in large organizations is to redefine the role of corporate headquarters. A. Reduce unnecessary control; focus on enhancing core competencies B. Reduce costs; increase shareholder […]

The demands of stakeholder groups constitute one principal set of inputs to the company A. Annual report B. Credit report C. Mission D. Public relations message ________ are key, routine activities that must be undertaken in each functional area. A. […]

_______ are truly Internet-driven organizations designed to deliver speedy, customized, service-enhanced products to savvy customers from an integrated, boundary less organization, pulling together abundant, world-class resources digitally. A. B-Web structures B. Digitized structures C. Internet structures D. Virtual structures Supplier […]

Which of these is NOT a principle of successful collaborative social initiatives? A. Eliminate government influence B. Leverage core capabilities: contribute ” “what we do” C. Identify a long-term durable mission D. Contribute specialized services to a large scale undertaking […]

Exit barriers represent a determinant of A. Entry B. Rivalry C. Buyer power D. Supplier power One of the limitations of the SWOT analysis is that it can ______ internal strengths and ______ external threats. A. overemphasize; downplay B. underemphasize; […]

The most easily identified assets, often found on a firm’s balance sheet, are called: A. Intangible assets B. Tangible assets C. Capabilities D. Competencies A(n) ________ is one that identifies a set of business capabilities central to high-profitability operations and […]

Which of these is NOT an example of a federal ecological legislation? A. Air Quality Act B. Refuse Act C. Occupational Safety and Health Act D. Resource Recovery Act SWOT analysis’s value and continued use is found in its: A. […]

The _______ is one in which functional and staff personnel are assigned to both a basic functional area and to a project or product manager. A. Functional structure B. Ambidextrous structure C. Divisional structure D. Matrix structure Professional relationship in […]

Access to distribution channels is a major source of which competitive force? A. Bargaining power of buyers B. Threat of entry C. Threat of substitute products D. Bargaining power of suppliers In the SWOT analysis diagram, which cell presents the […]

In the past 30 years, the U.S. has ______ in terms of technological advantage. A. Substantially enhanced B. Maintained a status quo C. Declined dramatically D. Reaches the number one spot in the world Entrepreneurs benefit when using __________ because […]

Organizations inhibit __________ by insisting that communication flow upward. A. Corporate slack B. Cross-functional interaction C. Freedom from turfness D. Cross-fertilization The results that an organization seeks over a multiyear period are its A. Generic strategies B. Grand strategies C. […]

Awareness of technological changes in its industry helps the firm to: A. Interpret new regulations B. Act slowly and carefully C. Exploit new markets D. Forecast social change ______ exist between a company and its customers, suppliers, partners, regulators and […]

In the economists’ “perfectly competitive” industry jockeying for position is unbridled and entry to the industry is A. Very easy B. Prohibited by regulations C. Moderated due to national security concerns D. Very hard All businesses exist in a(n) _____ […]

Golden handcuffs: A. Have no downside risk to executives, who always profits unlike other shareholders B. Have a weak correlation between earnings measures and shareholder wealth creation C. Make it hard to explain the dimensions of managerial performance using the […]

Providing institutional leadership through shaping and embedding corporate purpose and challenging embedded assumptions at the top management level is reflective of the: A. Innovation process B. Integration process C. Renewal process D. Entrepreneurial process If a business is sold for […]

Acquisition of firms that supply inputs such as raw materials is referred to as A. Conglomerate diversification B. Horizontal acquisition C. Retrenchment D. Vertical acquisition A(n) ______ is a resource or capability controlled by or available to a firm that […]

If X-Corp.’s car polish division has committed to a 30 percent gain in revenue over six years, they must consider the specific target in revenue during the current quarter to indicate they are making appropriate progress. This smaller objective for […]

New entrants to an industry bring: A. New capacity B. New customers C. Few resources D. Bigger margins Suppliers can exert bargaining power on participants in an industry by: A. Stabilizing their cost bas B. Lowering prices C. Raising prices […]

To make business strategies, grand strategies and long-term objectives a reality, the people in an organization who ________ need guidance in exactly what they need to do. A. “Do the work” B. Make corporate decisions C. Manage the business unit […]

Broad, precedent-setting decisions that guide or substitute for repetitive or time-sensitive managerial decision making are called A. Goals B. Strategies C. Objectives D. Policies Which group of strategic managers is responsible for overseeing the creation and accomplishment of the company […]

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 […]

The external environment can be divided into various interrelated subcategories: A. Remote, political, social B. Remote, social, operational C. Remote, industry, operating D. Technological and social Trust starts with ____ A. others B. empathy C. self D. social-management Answer: C. […]

__________ 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 […]

Under the ________ approach to strategy, establishing a vision, building resources and leveraging across markets are all strategic steps to be taken by the firm. A. Patching B. Parenting C. Resources D. Position Under stable conditions, concentrated growth is characterized […]

Managers need to know that, in the view of the general public, _______ and _______ responsibilities are required, _______ responsibility is expected and _______ responsibility is desired. A. Legal; ethical; economic; discretionary B. Economic; legal; ethical; discretionary C. Ethical; economic; […]

A _____is a company’s game plan. A. Strategy B. Pricing policy C. Value statement D. Long-term objective Which of the following is NOT a strategic disadvantage of the divisional organizational structure? A. Makes policy consistency a known standard B. Increases […]

______ is the use of a common product, service, and message across all markets to create a strong brand image. A. Globalization B. Horizontal integration C. Standardization D. Customization The 100 largest U.S. global earn an average of ___ percent […]

Business strategies require all of these EXCEPT which feature for success in emerging industry setting? A. Shape the industry’s structure B. Rapidly improve product quality C. Strong product design skills D. Forecast future competitors Effective leaders: A. Choose just one […]

The equilibrium positions shown imply that in the relevant wage range, this person is: a. on the upsloping segment of the individual labor supply curve b. on the backward-bending segment of the individual labor supply curve c. at the point […]