Question 1

A cost leadership strategy can be especially effective when most buyers use the product in the same ways.

Accepted Answer

A) True 
 B)False

Question 2

Today McDonald's owns about ________ percent of its restaurants.

Accepted Answer

A)  9 
B)  20 
C)  50 
D)  67 
E)  89 
A)  9 
B)  20 
C)  50 
D)  67 
E)  89

Question 3

"If it ain't broke, don't fix it" refers to managing by crisis.

Accepted Answer

A) True 
 B)False

Question 4

A differentiation strategy can be especially attractive when the industry has many different niches and segments, thereby allowing a focuser to pick a competitively attractive niche suited to its own resources.

Accepted Answer

A) True 
 B)False

Question 5

Under which strategy would you offer products or services to a wide range of customers at the lowest price available on the market?

Accepted Answer

A)  Cost Leadership - Low Cost 
B)  Cost Leadership - Best Value 
C)  Focus - Low Cost 
D)  Focus - Best Value 
E)  Differentiation 
A)  Cost Leadership - Low Cost 
B)  Cost Leadership - Best Value 
C)  Focus - Low Cost 
D)  Focus - Best Value 
E)  Differentiation

Question 6

Strategic objectives include larger market share, quicker on-time delivery than rivals, shorter design-to-market times than rivals, lower costs than rivals, and wider geographic coverage than rivals.

Accepted Answer

A) True 
 B)False

Question 7

Compare and contrast the five types of bankruptcy: Chapters 7, 9, 11, 12 and 13.

Accepted Answer

Chapter 7 bankruptcy is a liquidation pr

Question 8

Retrenchment would be an effective strategy when an organization

Accepted Answer

A)  has shrunk so quickly that major internal reorganization is needed. 
B)  is one of the stronger competitors in a given industry. 
C)  is plagued by inefficiency, low profitability, poor employee morale and pressure from stockholders to improve performance. 
D)  has decided to capitalize on opportunities, maximize threats, take advantage of strengths and overcome weaknesses. 
E)  does not have a clearly distinctive competence and has failed to meet its objectives and goals consistently over time. 
A)  has shrunk so quickly that major internal reorganization is needed. 
B)  is one of the stronger competitors in a given industry. 
C)  is plagued by inefficiency, low profitability, poor employee morale and pressure from stockholders to improve performance. 
D)  has decided to capitalize on opportunities, maximize threats, take advantage of strengths and overcome weaknesses. 
E)  does not have a clearly distinctive competence and has failed to meet its objectives and goals consistently over time.

Question 9

Unrelated diversification may be an especially effective strategy when an organization's basic industry is experiencing increasing annual sales and profits.

Accepted Answer

A) True 
 B)False

Question 10

Stockton, a city in California, declared Chapter 9 bankruptcy in 2012 to avoid having to close key functions such as their police and fire departments.

Accepted Answer

A) True 
 B)False

Question 11

Cooperative arrangements and joint ventures are being used increasingly.

Accepted Answer

A) True 
 B)False

Question 12

Liberty Media Corp. selling its Starz television network is an example of which type of strategy?

Accepted Answer

A)  Related diversification 
B)  Unrelated diversification 
C)  Retrenchment 
D)  Divestiture 
E)  Liquidation 
A)  Related diversification 
B)  Unrelated diversification 
C)  Retrenchment 
D)  Divestiture 
E)  Liquidation

Question 13

List some guidelines for when market development would be a particularly good strategy to pursue.

Accepted Answer

Market development would be an effective

Question 14

Jiffy Lube International would be a good example of a firm seeking the best-value focus strategy.

Accepted Answer

A) True 
 B)False

Question 15

Define and give an examples of three intensive strategies.

Accepted Answer

Market penetration,market development,an

Question 16

Under which condition would a cost leadership strategy be especially effective?

Accepted Answer

A)  when there are many ways to achieve product differentiation that have value to buyers 
B)  when most buyers use the product in different ways 
C)  when buyers incur high costs in switching their purchases from one seller to another 
D)  when buyers are small and have little power to bargain down prices 
E)  when the products of rival sellers are essentially identical and supplies are readily available from any of several eager sellers 
A)  when there are many ways to achieve product differentiation that have value to buyers 
B)  when most buyers use the product in different ways 
C)  when buyers incur high costs in switching their purchases from one seller to another 
D)  when buyers are small and have little power to bargain down prices 
E)  when the products of rival sellers are essentially identical and supplies are readily available from any of several eager sellers

Question 17

Product development is an appropriate strategy when an organization has successful products that are in the maturity stage of the product life cycle.

Accepted Answer

A) True 
 B)False

Question 18

Unrelated diversification is an appropriate strategy when an organization's present channels of distribution can be used to market the new products to current customers.

Accepted Answer

A) True 
 B)False

Question 19

Bankruptcy

Accepted Answer

A)  should never be used as a strategy. 
B)  should be used only when one is legally forced to do so. 
C)  can be an effective type of retrenchment strategy. 
D)  should only be used for large firms. 
E)  should only be used for small, private firms. 
A)  should never be used as a strategy. 
B)  should be used only when one is legally forced to do so. 
C)  can be an effective type of retrenchment strategy. 
D)  should only be used for large firms. 
E)  should only be used for small, private firms.

Question 20

Which of the following is NOT a reason joint ventures fail?

Accepted Answer

A)  Managers who must collaborate daily in operating the venture are not involved in forming or shaping the venture. 
B)  The venture may not be supported equally by both partners. 
C)  The venture may benefit the partnering companies but may not benefit the customers who then complain about poorer service or criticize the companies in other ways. 
D)  Stakeholders from both partners are equally satisfied. 
E)  The venture may begin to compete more with one of the partners than the other. 
A)  Managers who must collaborate daily in operating the venture are not involved in forming or shaping the venture. 
B)  The venture may not be supported equally by both partners. 
C)  The venture may benefit the partnering companies but may not benefit the customers who then complain about poorer service or criticize the companies in other ways. 
D)  Stakeholders from both partners are equally satisfied. 
E)  The venture may begin to compete more with one of the partners than the other.

A cost leadership strategy can be especially effective when most buyers use the product in the same ways.

Today McDonald's owns about ________ percent of its restaurants.

"If it ain't broke, don't fix it" refers to managing by crisis.

A differentiation strategy can be especially attractive when the industry has many different niches and segments, thereby allowing a focuser to pick a competitively attractive niche suited to its own resources.

Under which strategy would you offer products or services to a wide range of customers at the lowest price available on the market?

Strategic objectives include larger market share, quicker on-time delivery than rivals, shorter design-to-market times than rivals, lower costs than rivals, and wider geographic coverage than rivals.

Compare and contrast the five types of bankruptcy: Chapters 7, 9, 11, 12 and 13.

Retrenchment would be an effective strategy when an organization

Unrelated diversification may be an especially effective strategy when an organization's basic industry is experiencing increasing annual sales and profits.

Stockton, a city in California, declared Chapter 9 bankruptcy in 2012 to avoid having to close key functions such as their police and fire departments.

Cooperative arrangements and joint ventures are being used increasingly.

Liberty Media Corp. selling its Starz television network is an example of which type of strategy?

List some guidelines for when market development would be a particularly good strategy to pursue.

Jiffy Lube International would be a good example of a firm seeking the best-value focus strategy.

Define and give an examples of three intensive strategies.

Under which condition would a cost leadership strategy be especially effective?

Product development is an appropriate strategy when an organization has successful products that are in the maturity stage of the product life cycle.

Unrelated diversification is an appropriate strategy when an organization's present channels of distribution can be used to market the new products to current customers.

Bankruptcy

Which of the following is NOT a reason joint ventures fail?

The Nature of Strategic Management

The Business Vision and Mission

The External Assessment

The Internal Assessment

Strategy Analysis and Choice

Implementing Strategies: Management and Operations Issues

Implementing Strategies: Marketing, Finance/Accounting, R&D, and MIS Issues

Strategy Review, Evaluation, and Control

Business Ethics, Social Responsibility, and Environmental Sustainability

Global and International Issues

Filters

Exam 5: Strategies in Action

A cost leadership strategy can be especially effective when most buyers use the product in the same ways.

Today McDonald's owns about ________ percent of its restaurants.

"If it ain't broke, don't fix it" refers to managing by crisis.

A differentiation strategy can be especially attractive when the industry has many different niches and segments, thereby allowing a focuser to pick a competitively attractive niche suited to its own resources.

Under which strategy would you offer products or services to a wide range of customers at the lowest price available on the market?

Strategic objectives include larger market share, quicker on-time delivery than rivals, shorter design-to-market times than rivals, lower costs than rivals, and wider geographic coverage than rivals.

Compare and contrast the five types of bankruptcy: Chapters 7, 9, 11, 12 and 13.

Retrenchment would be an effective strategy when an organization

Unrelated diversification may be an especially effective strategy when an organization's basic industry is experiencing increasing annual sales and profits.

Stockton, a city in California, declared Chapter 9 bankruptcy in 2012 to avoid having to close key functions such as their police and fire departments.

Cooperative arrangements and joint ventures are being used increasingly.

Liberty Media Corp. selling its Starz television network is an example of which type of strategy?

List some guidelines for when market development would be a particularly good strategy to pursue.

Jiffy Lube International would be a good example of a firm seeking the best-value focus strategy.

Define and give an examples of three intensive strategies.

Under which condition would a cost leadership strategy be especially effective?

Product development is an appropriate strategy when an organization has successful products that are in the maturity stage of the product life cycle.

Unrelated diversification is an appropriate strategy when an organization's present channels of distribution can be used to market the new products to current customers.

Bankruptcy

Which of the following is NOT a reason joint ventures fail?

The Nature of Strategic Management

The Business Vision and Mission

The External Assessment

The Internal Assessment

Strategy Analysis and Choice

Implementing Strategies: Management and Operations Issues

Implementing Strategies: Marketing, Finance/Accounting, R&D, and MIS Issues

Strategy Review, Evaluation, and Control

Business Ethics, Social Responsibility, and Environmental Sustainability

Global and International Issues

Filters