Question 1

Who wrote the book, The World is Flat: A Brief History of the Twenty-First Century?

Accepted Answer

A)  Michael Porter 
B)  Frederick W. Taylor 
C)  Niccolò Machiavelli 
D)  Thomas Friedman 
E)  Alfred Chandler 
A)  Michael Porter 
B)  Frederick W. Taylor 
C)  Niccolò Machiavelli 
D)  Thomas Friedman 
E)  Alfred Chandler

Question 2

A strategic _____ is a specific move designed to outwit or trick competitors.

Accepted Answer

A)  pattern 
B)  perspective 
C)  ploy 
D)  plan 
E)  position 
A)  pattern 
B)  perspective 
C)  ploy 
D)  plan 
E)  position

Question 3

A _____ strategy refers to the part of the intended strategy that are abandoned.

Accepted Answer

A)  marked 
B)  deliberate 
C)  make over 
D)  non-realized 
E)  pre-termed 
A)  marked 
B)  deliberate 
C)  make over 
D)  non-realized 
E)  pre-termed

Question 4

Pizzas at Home, a pizza shop, plans to deliver pizzas to households. Deliveries would be made without any extra charge. Soon, Pizzas at Home realizes it must start charging a nominal fee for delivery. Many other pizzerias start following the same strategy. Pizzas at Home then starts offering free pizzas if they are not delivered within 30 minutes of the order placement. The strategy followed by Pizzas at Home is an example of a(n) _____ strategy.

Accepted Answer

A)  marked 
B)  pre-termed 
C)  established 
D)  realized 
E)  arranged 
A)  marked 
B)  pre-termed 
C)  established 
D)  realized 
E)  arranged

Question 5

Strategic management is a process that involves building a careful understanding of how changes in the world might affect a particular firm.

Accepted Answer

A) True 
 B)False

Question 6

An organization which gets the right to use another organization's brand name, products, and processes is referred to as a _____.

Accepted Answer

A)  legatee 
B)  franchisee 
C)  bailee 
D)  bailer 
E)  franchisor 
A)  legatee 
B)  franchisee 
C)  bailee 
D)  bailer 
E)  franchisor

Question 7

Developing a viable business model requires that a firm sell goods or services for more than it costs the firm to create and distribute those goods.

Accepted Answer

A) True 
 B)False

Question 8

A strategic _____ is a carefully crafted set of steps that a firm intends to follow in order to be successful.

Accepted Answer

A)  pattern 
B)  perspective 
C)  ploy 
D)  plan 
E)  position 
A)  pattern 
B)  perspective 
C)  ploy 
D)  plan 
E)  position

Question 9

For a small firm, licensing technology to larger firms provides a second income stream and decreases the chances of imitation.

Accepted Answer

A) True 
 B)False

Question 10

Trends and events of the external environment seldom affect the overall state of an organization.

Accepted Answer

A) True 
 B)False

Question 11

Dormer is the only fine dining restaurant in a small town. The opening of a new restaurant is viewed as a threat by some of the employees at Dormer. Others see it as an opportunity for Dormer to strengthen itself by looking out for its weaknesses and ironing them out. This is an example of strategy as:

Accepted Answer

A)  ploy. 
B)  plan. 
C)  position. 
D)  pattern. 
E)  perspective. 
A)  ploy. 
B)  plan. 
C)  position. 
D)  pattern. 
E)  perspective.

Question 12

Realized strategies are a product of a firm's intended strategy, deliberate strategy, and emergent strategy.

Accepted Answer

A) True 
 B)False

Question 13

A viable business model requires that a firm:

Accepted Answer

A)  sell goods or services at the same cost the firm needs to create and distribute those goods. 
B)  sell goods or services without paying any attention to the costs that the firm has to bear in order to create and distribute those goods. 
C)  give away goods or services for free in order to attract more and more customers. 
D)  sell goods or services for more than it costs the firm to create and distribute those goods. 
E)  sell goods or services for less than it costs the firm to create and distribute those goods. 
A)  sell goods or services at the same cost the firm needs to create and distribute those goods. 
B)  sell goods or services without paying any attention to the costs that the firm has to bear in order to create and distribute those goods. 
C)  give away goods or services for free in order to attract more and more customers. 
D)  sell goods or services for more than it costs the firm to create and distribute those goods. 
E)  sell goods or services for less than it costs the firm to create and distribute those goods.

Question 14

A clothing line company has a number of outlets which are owned and managed by private individuals. These outlets are allowed to use the brand name and products of the clothing line after paying a fee to the clothing line company. They also pay a part of their revenue to the clothing line. This is an example of:

Accepted Answer

A)  franchising 
B)  exporting 
C)  differentiation 
D)  retail expansion 
E)  brand dilution 
A)  franchising 
B)  exporting 
C)  differentiation 
D)  retail expansion 
E)  brand dilution

Question 15

Explain Sun Tzu's idea that winning a battle without fighting is the best way to win with an example.

Accepted Answer

Students' examples may vary.
One of Sun

Question 16

Which of the following statements holds true for the book, Competitive Strategy: Techniques for Analyzing Industries and Competitors?

Accepted Answer

A)  It stressed how strategy and organizational structure need to be consistent with each other in order to ensure strong firm performance 
B)  It offered concepts such as Five Forces Analysis and Generic Strategies that continue to strongly influence how executives choose strategies 
C)  It stressed how organizations could become more efficient through identifying the "one best way" of performing important tasks 
D)  It argued that many of the advantages that firms in developed countries like the United States, Japan, and Great Britain take for granted are disappearing 
E)  It emphasized student's critical thinking skills in general and the notion that multiple ways of addressing a problem could be equally successful 
A)  It stressed how strategy and organizational structure need to be consistent with each other in order to ensure strong firm performance 
B)  It offered concepts such as Five Forces Analysis and Generic Strategies that continue to strongly influence how executives choose strategies 
C)  It stressed how organizations could become more efficient through identifying the "one best way" of performing important tasks 
D)  It argued that many of the advantages that firms in developed countries like the United States, Japan, and Great Britain take for granted are disappearing 
E)  It emphasized student's critical thinking skills in general and the notion that multiple ways of addressing a problem could be equally successful

Question 17

Strategy as _____ focuses on the extent to which a firm's actions over time are consistent.

Accepted Answer

A)  pattern 
B)  perspective 
C)  ploy 
D)  plan 
E)  position 
A)  pattern 
B)  perspective 
C)  ploy 
D)  plan 
E)  position

Question 18

Executives who make assumptions about what an adversary can and cannot do put their organization's performance in jeopardy.

Accepted Answer

A) True 
 B)False

Question 19

What is a business model?

Accepted Answer

A business model should be a central ele

Question 20

A _____ is an organization which grants the right to use its brand name, products, and processes to other organizations.

Accepted Answer

A)  legatee 
B)  franchisee 
C)  bailee 
D)  bailer 
E)  franchisor 
A)  legatee 
B)  franchisee 
C)  bailee 
D)  bailer 
E)  franchisor

Who wrote the book, The World is Flat: A Brief History of the Twenty-First Century?

A strategic _____ is a specific move designed to outwit or trick competitors.

A _____ strategy refers to the part of the intended strategy that are abandoned.

Strategic management is a process that involves building a careful understanding of how changes in the world might affect a particular firm.

An organization which gets the right to use another organization's brand name, products, and processes is referred to as a _____.

Developing a viable business model requires that a firm sell goods or services for more than it costs the firm to create and distribute those goods.

A strategic _____ is a carefully crafted set of steps that a firm intends to follow in order to be successful.

For a small firm, licensing technology to larger firms provides a second income stream and decreases the chances of imitation.

Trends and events of the external environment seldom affect the overall state of an organization.

Realized strategies are a product of a firm's intended strategy, deliberate strategy, and emergent strategy.

A viable business model requires that a firm:

Explain Sun Tzu's idea that winning a battle without fighting is the best way to win with an example.

Which of the following statements holds true for the book, Competitive Strategy: Techniques for Analyzing Industries and Competitors?

Strategy as _____ focuses on the extent to which a firm's actions over time are consistent.

Executives who make assumptions about what an adversary can and cannot do put their organization's performance in jeopardy.

What is a business model?

A _____ is an organization which grants the right to use its brand name, products, and processes to other organizations.

Leading Strategically

Evaluating the External Environment

Managing Company Resources

Selecting Business-Level Strategies

Supporting the Business-Level Strategy: Competitive and Cooperative Moves

Competing in International Markets

Selecting Corporate-Level Strategies

Executing Strategy Through Organizational Design

Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility

Filters

Exam 1: Mastering Strategy: Art and Science

Who wrote the book, The World is Flat: A Brief History of the Twenty-First Century?

A strategic _____ is a specific move designed to outwit or trick competitors.

A _____ strategy refers to the part of the intended strategy that are abandoned.

Strategic management is a process that involves building a careful understanding of how changes in the world might affect a particular firm.

An organization which gets the right to use another organization's brand name, products, and processes is referred to as a _____.

Developing a viable business model requires that a firm sell goods or services for more than it costs the firm to create and distribute those goods.

A strategic _____ is a carefully crafted set of steps that a firm intends to follow in order to be successful.

For a small firm, licensing technology to larger firms provides a second income stream and decreases the chances of imitation.

Trends and events of the external environment seldom affect the overall state of an organization.

Realized strategies are a product of a firm's intended strategy, deliberate strategy, and emergent strategy.

A viable business model requires that a firm:

Explain Sun Tzu's idea that winning a battle without fighting is the best way to win with an example.

Which of the following statements holds true for the book, Competitive Strategy: Techniques for Analyzing Industries and Competitors?

Strategy as _____ focuses on the extent to which a firm's actions over time are consistent.

Executives who make assumptions about what an adversary can and cannot do put their organization's performance in jeopardy.

What is a business model?

A _____ is an organization which grants the right to use its brand name, products, and processes to other organizations.

Leading Strategically

Evaluating the External Environment

Managing Company Resources

Selecting Business-Level Strategies

Supporting the Business-Level Strategy: Competitive and Cooperative Moves

Competing in International Markets

Selecting Corporate-Level Strategies

Executing Strategy Through Organizational Design

Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility

Filters