Question 1

_____ can be defined as the combination of benefits received and costs paid for by the customer.

Accepted Answer

A)  Organizational benefits 
B)  Value 
C)  Cost-benefit diversity 
D)  Synergy 
E)  Core competence 
A)  Organizational benefits 
B)  Value 
C)  Cost-benefit diversity 
D)  Synergy 
E)  Core competence

Question 2

Using the logic of the BCG grid,Theresa should recognize that her strategic business unit was in which quadrant?

Accepted Answer

A)  Star 
B)  Cash Cow 
C)  Question Mark 
D)  Dog 
E)  None of these 
A)  Star 
B)  Cash Cow 
C)  Question Mark 
D)  Dog 
E)  None of these

Question 3

Which of these is true about the dog division?

Accepted Answer

A)  It has a large market share in a rapidly growing industry. 
B)  It has a large market share in a slow growth industry. 
C)  It has a small market share in a rapidly growing industry. 
D)  It has a small share of a slow growth market. 
E)  It has a moderate market share in a rapidly growing industry. 
A)  It has a large market share in a rapidly growing industry. 
B)  It has a large market share in a slow growth industry. 
C)  It has a small market share in a rapidly growing industry. 
D)  It has a small share of a slow growth market. 
E)  It has a moderate market share in a rapidly growing industry.

Question 4

Front-line managers have the final responsibility for strategic planning.

Accepted Answer

A) True 
 B)False

Question 5

Corporate-level strategy pertains to the organization as a whole.

Accepted Answer

A) True 
 B)False

Question 6

In order for companies to remain competitive,their strategies must focus on three things.Describe these three focuses.

Accepted Answer

The three focuses are core competencies,

Question 7

_____ is the set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.

Accepted Answer

Strategic

Question 8

What type of organizational unit has a unique business mission,product line,competitors and markets relative to other units in the same corporation?

Accepted Answer

A)  Product unit 
B)  Functional unit 
C)  Strategic business unit 
D)  Operational unit 
E)  Business consulting group unit 
A)  Product unit 
B)  Functional unit 
C)  Strategic business unit 
D)  Operational unit 
E)  Business consulting group unit

Question 9

The world-wide standardization of product design and advertising refers to globalization.

Accepted Answer

A) True 
 B)False

Question 10

The _____ function recruits selects,trains,transfers,promotes and dismisses employees to facilitate the achievement of strategic goals.

Accepted Answer

A)  production 
B)  leadership 
C)  information and control systems 
D)  structural design 
E)  human resource 
A)  production 
B)  leadership 
C)  information and control systems 
D)  structural design 
E)  human resource

Question 11

People need to understand how their individual actions can contribute to achieving an organizational strategy.This can be accomplished by delegating authority,creating teams and clearly defining roles.These actions are part of which aspect of the following for putting strategy into action

Accepted Answer

A)  Visible leadership 
B)  Candid communication 
C)  Human resources 
D)  Clear roles and accountability 
E)  Bargaining power of employees 
A)  Visible leadership 
B)  Candid communication 
C)  Human resources 
D)  Clear roles and accountability 
E)  Bargaining power of employees

Question 12

How various business units and product lines fit together in a logical way is the essence of:

Accepted Answer

A)  business-level strategy. 
B)  portfolio strategy. 
C)  competitive strategy. 
D)  financial strategy. 
E)  functional strategy. 
A)  business-level strategy. 
B)  portfolio strategy. 
C)  competitive strategy. 
D)  financial strategy. 
E)  functional strategy.

Question 13

The _____ strategy involves seeking efficient facilities,cutting costs and using tight cost controls to be more efficient than competitors.

Accepted Answer

A)  cost leadership 
B)  differentiation 
C)  focus 
D)  internal growth 
E)  liquidation 
A)  cost leadership 
B)  differentiation 
C)  focus 
D)  internal growth 
E)  liquidation

Question 14

The purpose of _____ is to expand the firm's business operations to generate profits from valuable new products and services?

Accepted Answer

A)  retrenchment 
B)  diversification 
C)  liquidation 
D)  cash cow 
E)  internal growth 
A)  retrenchment 
B)  diversification 
C)  liquidation 
D)  cash cow 
E)  internal growth

Question 15

Which of the following strategies for a foreign market would be appropriate when the level for potential global integration is low and will remain that way.

Accepted Answer

A)  Globalization 
B)  Multi domestic 
C)  Export 
D)  Transnational 
E)  Import 
A)  Globalization 
B)  Multi domestic 
C)  Export 
D)  Transnational 
E)  Import

Question 16

_____ refers to the use of managerial tools to direct resources toward the achievement of strategic goals.

Accepted Answer

A)  Strategy formulation 
B)  Strategy coordination 
C)  Strategy execution 
D)  Strategy control 
E)  Strategy planning 
A)  Strategy formulation 
B)  Strategy coordination 
C)  Strategy execution 
D)  Strategy control 
E)  Strategy planning

Question 17

Cost leadership is a type of competitive strategy with which the organization seeks to distinguish its products or services from that of competitors.

Accepted Answer

A) True 
 B)False

Question 18

Some people argue that _____ is the most difficult and yet is the most important part of strategic management.

Accepted Answer

A)  SWOT analysis 
B)  strategic formation 
C)  strategic execution 
D)  strategic analysis 
E)  strategy evaluation 
A)  SWOT analysis 
B)  strategic formation 
C)  strategic execution 
D)  strategic analysis 
E)  strategy evaluation

Question 19

Compare and contrast the three levels of strategy in an organization.

Accepted Answer

There are three levels of strategy in an

Question 20

Which of these questions is central to a functional-level strategy?

Accepted Answer

A)  What business are we in? 
B)  How do we compete? 
C)  How do we support our chosen business strategy? 
D)  What businesses do we buy? 
E)  Where to market our products? 
A)  What business are we in? 
B)  How do we compete? 
C)  How do we support our chosen business strategy? 
D)  What businesses do we buy? 
E)  Where to market our products?

_____ can be defined as the combination of benefits received and costs paid for by the customer.

Using the logic of the BCG grid,Theresa should recognize that her strategic business unit was in which quadrant?

Which of these is true about the dog division?

Front-line managers have the final responsibility for strategic planning.

Corporate-level strategy pertains to the organization as a whole.

In order for companies to remain competitive,their strategies must focus on three things.Describe these three focuses.

_____ is the set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.

What type of organizational unit has a unique business mission,product line,competitors and markets relative to other units in the same corporation?

The world-wide standardization of product design and advertising refers to globalization.

The _____ function recruits selects,trains,transfers,promotes and dismisses employees to facilitate the achievement of strategic goals.

People need to understand how their individual actions can contribute to achieving an organizational strategy.This can be accomplished by delegating authority,creating teams and clearly defining roles.These actions are part of which aspect of the following for putting strategy into action

How various business units and product lines fit together in a logical way is the essence of:

The _____ strategy involves seeking efficient facilities,cutting costs and using tight cost controls to be more efficient than competitors.

The purpose of _____ is to expand the firm's business operations to generate profits from valuable new products and services?

Which of the following strategies for a foreign market would be appropriate when the level for potential global integration is low and will remain that way.

_____ refers to the use of managerial tools to direct resources toward the achievement of strategic goals.

Cost leadership is a type of competitive strategy with which the organization seeks to distinguish its products or services from that of competitors.

Some people argue that _____ is the most difficult and yet is the most important part of strategic management.

Compare and contrast the three levels of strategy in an organization.

Which of these questions is central to a functional-level strategy?

Introduction to Management

The Evolution of Management Thinking

The Organization and Corporate Culture

The Dynamics of Alternative Organizational Forms

Managing in a Global Environment

Managing Ethics and Social Corporate Governance

Managerial Planning and Goal Setting

Managerial Decision Making

Managing Small Business Start-Ups

Managing Change and Innovation

Managing Corporate Diversity

Leadership

Managing Human Resources

Managing Communication

Leading Teams

Filters

Exam 8: Strategy Formulation and Execution

_____ can be defined as the combination of benefits received and costs paid for by the customer.

Using the logic of the BCG grid,Theresa should recognize that her strategic business unit was in which quadrant?

Which of these is true about the dog division?

Front-line managers have the final responsibility for strategic planning.

Corporate-level strategy pertains to the organization as a whole.

In order for companies to remain competitive,their strategies must focus on three things.Describe these three focuses.

_____ is the set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.

What type of organizational unit has a unique business mission,product line,competitors and markets relative to other units in the same corporation?

The world-wide standardization of product design and advertising refers to globalization.

The _____ function recruits selects,trains,transfers,promotes and dismisses employees to facilitate the achievement of strategic goals.

People need to understand how their individual actions can contribute to achieving an organizational strategy.This can be accomplished by delegating authority,creating teams and clearly defining roles.These actions are part of which aspect of the following for putting strategy into action

How various business units and product lines fit together in a logical way is the essence of:

The _____ strategy involves seeking efficient facilities,cutting costs and using tight cost controls to be more efficient than competitors.

The purpose of _____ is to expand the firm's business operations to generate profits from valuable new products and services?

Which of the following strategies for a foreign market would be appropriate when the level for potential global integration is low and will remain that way.

_____ refers to the use of managerial tools to direct resources toward the achievement of strategic goals.

Cost leadership is a type of competitive strategy with which the organization seeks to distinguish its products or services from that of competitors.

Some people argue that _____ is the most difficult and yet is the most important part of strategic management.

Compare and contrast the three levels of strategy in an organization.

Which of these questions is central to a functional-level strategy?

Introduction to Management

The Evolution of Management Thinking

The Organization and Corporate Culture

The Dynamics of Alternative Organizational Forms

Managing in a Global Environment

Managing Ethics and Social Corporate Governance

Managerial Planning and Goal Setting

Managerial Decision Making

Managing Small Business Start-Ups

Managing Change and Innovation

Managing Corporate Diversity

Leadership

Managing Human Resources

Managing Communication

Leading Teams

Filters