Question 1

The key to outsourcing is to purchase from the outside only those activities that

Accepted Answer

A)  are not central to the company's distinctive competence. 
B)  are very expensive. 
C)  provide the company competitive advantage. 
D)  are provided by an important supplier. 
E)  are not very expensive. 
A)  are not central to the company's distinctive competence. 
B)  are very expensive. 
C)  provide the company competitive advantage. 
D)  are provided by an important supplier. 
E)  are not very expensive. A

Question 2

Which strategy is developed to pull together the various activities and competencies of each department so that corporate and business unit performance improves?

Accepted Answer

A)  business strategy 
B)  competitive strategy 
C)  generic strategy 
D)  enterprise strategy 
E)  functional strategy 
A)  business strategy 
B)  competitive strategy 
C)  generic strategy 
D)  enterprise strategy 
E)  functional strategy E

Question 3

Which type of pricing attempts to hasten market development and offers the pioneer the opportunity to utilize the experience curve to gain market share and dominate the industry?

Accepted Answer

A)  demand pricing 
B)  competitive pricing 
C)  skim pricing 
D)  penetration pricing 
E)  loss-leader pricing 
A)  demand pricing 
B)  competitive pricing 
C)  skim pricing 
D)  penetration pricing 
E)  loss-leader pricing D

Question 4

According to Porter, to achieve a cost advantage by following the functional strategy of technological followership a business unit should

Accepted Answer

A)  pioneer the lowest-cost product design. 
B)  innovate in other activities to increase buyer value. 
C)  imitate the products pioneered by others. 
D)  create low-cost ways of performing value activities. 
E)  be the first firm down the learning curve. 
A)  pioneer the lowest-cost product design. 
B)  innovate in other activities to increase buyer value. 
C)  imitate the products pioneered by others. 
D)  create low-cost ways of performing value activities. 
E)  be the first firm down the learning curve.

Question 5

The flexible manufacturing system is defined by the text as

Accepted Answer

A)  one-of-a-kind production using skilled labor. 
B)  highly automated assembly lines making one mass-produced product using little human labor. 
C)  parts grouped into manufacturing families to produce a wide variety of mass-produced items. 
D)  a process utilizing the just-in-time JIT) method of manufacturing. 
E)  standardization of components with each machine functioning like a job shop, but is positioned in the same order as the parts are processed. 
A)  one-of-a-kind production using skilled labor. 
B)  highly automated assembly lines making one mass-produced product using little human labor. 
C)  parts grouped into manufacturing families to produce a wide variety of mass-produced items. 
D)  a process utilizing the just-in-time JIT) method of manufacturing. 
E)  standardization of components with each machine functioning like a job shop, but is positioned in the same order as the parts are processed.

Question 6

A recent trend in information systems strategy is

Accepted Answer

A)  computerizing accounting. 
B)  automating customer service. 
C)  forming closer relationships with customers and suppliers through extranets. 
D)  replacing Fortran with Cobol in order to boost productivity. 
E)  replacing main frame computers with robots. 
A)  computerizing accounting. 
B)  automating customer service. 
C)  forming closer relationships with customers and suppliers through extranets. 
D)  replacing Fortran with Cobol in order to boost productivity. 
E)  replacing main frame computers with robots.

Question 7

The type of marketing strategy in which a company develops new products for new or existing markets is

Accepted Answer

A)  market development. 
B)  push strategy. 
C)  product development. 
D)  pull strategy. 
E)  skimming the cream. 
A)  market development. 
B)  push strategy. 
C)  product development. 
D)  pull strategy. 
E)  skimming the cream.

Question 8

A company which enters into a spirited battle for market share by cutting prices and offering special deals would be an example of which strategy to avoid?

Accepted Answer

A)  follow the leader 
B)  hit another home run 
C)  arms race 
D)  do everything 
E)  losing hand 
A)  follow the leader 
B)  hit another home run 
C)  arms race 
D)  do everything 
E)  losing hand

Question 9

A popular financial strategy in which a company is acquired in a transaction financed largely by debt - eventually paid off with money generated from the acquired company's operations or sale of its assets is

Accepted Answer

A)  illegal in most countries. 
B)  a good way to build a core competency. 
C)  an application of the capital asset pricing model. 
D)  the leveraged buyout. 
E)  an example of internal financing. 
A)  illegal in most countries. 
B)  a good way to build a core competency. 
C)  an application of the capital asset pricing model. 
D)  the leveraged buyout. 
E)  an example of internal financing.

Question 10

The technique used to help strategists choose among alternative choices by defining the task environment, developing a set of various forecasts, and using proforma financial statements is called

Accepted Answer

A)  decision trees. 
B)  S.W.O.T. analysis. 
C)  industry scenarios. 
D)  corporate scenarios. 
E)  Capital Asset Pricing Model. 
A)  decision trees. 
B)  S.W.O.T. analysis. 
C)  industry scenarios. 
D)  corporate scenarios. 
E)  Capital Asset Pricing Model.

Question 11

A company which invests in many interesting opportunities without deciding which of them should have priority would be an example of which strategy to avoid?

Accepted Answer

A)  follow the leader 
B)  hit another home run 
C)  arms race 
D)  do everything 
E)  losing hand 
A)  follow the leader 
B)  hit another home run 
C)  arms race 
D)  do everything 
E)  losing hand

Question 12

Which of the following is an example of a marketing functional strategy?

Accepted Answer

A)  To increase profits by 10%. 
B)  To maximize shareholders wealth. 
C)  To achieve overall cost leadership. 
D)  To diversify into related markets. 
E)  To increase advertising expenditures to emphasize market "pull" over "push." 
A)  To increase profits by 10%. 
B)  To maximize shareholders wealth. 
C)  To achieve overall cost leadership. 
D)  To diversify into related markets. 
E)  To increase advertising expenditures to emphasize market "pull" over "push."

Question 13

The first step in constructing a corporate scenario is to

Accepted Answer

A)  develop common-sized financial statement. 
B)  construct detailed pro forma financial statements. 
C)  decide upon how much risk management is willing to accept. 
D)  analyze the societal environment. 
E)  use industry scenarios to develop a set of assumptions about the task environment. 
A)  develop common-sized financial statement. 
B)  construct detailed pro forma financial statements. 
C)  decide upon how much risk management is willing to accept. 
D)  analyze the societal environment. 
E)  use industry scenarios to develop a set of assumptions about the task environment.

Question 14

The manufacturing strategy which requires that people, processes, units, and technology reconfigure themselves to give customers exactly what they want, when they want it is called

Accepted Answer

A)  continuous improvement. 
B)  mass production. 
C)  job shop. 
D)  mass customization. 
E)  just-in-time. 
A)  continuous improvement. 
B)  mass production. 
C)  job shop. 
D)  mass customization. 
E)  just-in-time.

Question 15

The type of marketing strategy in which a company captures a larger share of an existing market for current products through market saturation or market penetration or develops new markets for current products is called

Accepted Answer

A)  market development. 
B)  push strategy. 
C)  product development. 
D)  pull strategy. 
E)  skimming the cream. 
A)  market development. 
B)  push strategy. 
C)  product development. 
D)  pull strategy. 
E)  skimming the cream.

Question 16

A company which has previously found great success pioneering an extremely successful product presently trying to turn another "long-shot" into a like success would be an example of which strategy to avoid?

Accepted Answer

A)  follow the leader 
B)  hit another home run 
C)  arms race 
D)  do everything 
E)  losing hand 
A)  follow the leader 
B)  hit another home run 
C)  arms race 
D)  do everything 
E)  losing hand

Question 17

Purchasing a product or service from an outside contractor is called

Accepted Answer

A)  vertical integration. 
B)  horizontal integration. 
C)  transaction costing. 
D)  outsourcing. 
E)  the hokey pokey. 
A)  vertical integration. 
B)  horizontal integration. 
C)  transaction costing. 
D)  outsourcing. 
E)  the hokey pokey.

Question 18

The HRM functional strategy in which input for performance appraisal is gathered from multiple sources is

Accepted Answer

A)  the behaviorally anchored rating scale. 
B)  360-degree appraisal. 
C)  bottom-up performance evaluation. 
D)  strategic performance feedback. 
E)  tactical performance looping. 
A)  the behaviorally anchored rating scale. 
B)  360-degree appraisal. 
C)  bottom-up performance evaluation. 
D)  strategic performance feedback. 
E)  tactical performance looping.

Question 19

In order to avoid reaching consensus before all the issues have been examined, which decision-making technique assigns a group or individual to identify potential problems with an alternative?

Accepted Answer

A)  devil's advocate 
B)  Sloan's judgment 
C)  sales presentation 
D)  dialectical inquiry 
E)  scenario construction 
A)  devil's advocate 
B)  Sloan's judgment 
C)  sales presentation 
D)  dialectical inquiry 
E)  scenario construction

Question 20

A strategy aimed at influencing key stakeholders is a

Accepted Answer

A)  corporate strategy. 
B)  business strategy. 
C)  political strategy. 
D)  functional strategy. 
E)  horizontal strategy. 
A)  corporate strategy. 
B)  business strategy. 
C)  political strategy. 
D)  functional strategy. 
E)  horizontal strategy.

The key to outsourcing is to purchase from the outside only those activities that

Which strategy is developed to pull together the various activities and competencies of each department so that corporate and business unit performance improves?

Which type of pricing attempts to hasten market development and offers the pioneer the opportunity to utilize the experience curve to gain market share and dominate the industry?

According to Porter, to achieve a cost advantage by following the functional strategy of technological followership a business unit should

The flexible manufacturing system is defined by the text as

A recent trend in information systems strategy is

The type of marketing strategy in which a company develops new products for new or existing markets is

A company which enters into a spirited battle for market share by cutting prices and offering special deals would be an example of which strategy to avoid?

A popular financial strategy in which a company is acquired in a transaction financed largely by debt - eventually paid off with money generated from the acquired company's operations or sale of its assets is

The technique used to help strategists choose among alternative choices by defining the task environment, developing a set of various forecasts, and using proforma financial statements is called

A company which invests in many interesting opportunities without deciding which of them should have priority would be an example of which strategy to avoid?

Which of the following is an example of a marketing functional strategy?

The first step in constructing a corporate scenario is to

The manufacturing strategy which requires that people, processes, units, and technology reconfigure themselves to give customers exactly what they want, when they want it is called

The type of marketing strategy in which a company captures a larger share of an existing market for current products through market saturation or market penetration or develops new markets for current products is called

A company which has previously found great success pioneering an extremely successful product presently trying to turn another "long-shot" into a like success would be an example of which strategy to avoid?

Purchasing a product or service from an outside contractor is called

The HRM functional strategy in which input for performance appraisal is gathered from multiple sources is

In order to avoid reaching consensus before all the issues have been examined, which decision-making technique assigns a group or individual to identify potential problems with an alternative?

A strategy aimed at influencing key stakeholders is a

Basic Concepts of Strategic Management

Corporate Governance and Social Responsibility

Environmental Scanning and Industry Analysis

Internal Scanning: Organizational Analysis

Strategy Formulation: Situation Analysis and Business Strategy

Strategy Formulation: Corporate Strategy

Strategy Implementation: Organizing for Action

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters

Exam 7: Strategy Formulation: Functional Strategy and Strategic Choice

The key to outsourcing is to purchase from the outside only those activities that

Which strategy is developed to pull together the various activities and competencies of each department so that corporate and business unit performance improves?

Which type of pricing attempts to hasten market development and offers the pioneer the opportunity to utilize the experience curve to gain market share and dominate the industry?

According to Porter, to achieve a cost advantage by following the functional strategy of technological followership a business unit should

The flexible manufacturing system is defined by the text as

A recent trend in information systems strategy is

The type of marketing strategy in which a company develops new products for new or existing markets is

A company which enters into a spirited battle for market share by cutting prices and offering special deals would be an example of which strategy to avoid?

A popular financial strategy in which a company is acquired in a transaction financed largely by debt - eventually paid off with money generated from the acquired company's operations or sale of its assets is

The technique used to help strategists choose among alternative choices by defining the task environment, developing a set of various forecasts, and using proforma financial statements is called

A company which invests in many interesting opportunities without deciding which of them should have priority would be an example of which strategy to avoid?

Which of the following is an example of a marketing functional strategy?

The first step in constructing a corporate scenario is to

The manufacturing strategy which requires that people, processes, units, and technology reconfigure themselves to give customers exactly what they want, when they want it is called

The type of marketing strategy in which a company captures a larger share of an existing market for current products through market saturation or market penetration or develops new markets for current products is called

A company which has previously found great success pioneering an extremely successful product presently trying to turn another "long-shot" into a like success would be an example of which strategy to avoid?

Purchasing a product or service from an outside contractor is called

The HRM functional strategy in which input for performance appraisal is gathered from multiple sources is

In order to avoid reaching consensus before all the issues have been examined, which decision-making technique assigns a group or individual to identify potential problems with an alternative?

A strategy aimed at influencing key stakeholders is a

Basic Concepts of Strategic Management

Corporate Governance and Social Responsibility

Environmental Scanning and Industry Analysis

Internal Scanning: Organizational Analysis

Strategy Formulation: Situation Analysis and Business Strategy

Strategy Formulation: Corporate Strategy

Strategy Implementation: Organizing for Action

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters