Question 1

First mover advantage refers to the benefits a firm may achieve by entering a new market or developing a new product or service prior to rival firms.

Accepted Answer

A) True 
 B)False

Question 2

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 3

A leveraged buyout occurs when a firm's management and other private investors use borrowed funds to buy out the firm's shareholders.

Accepted Answer

A) True 
 B)False

Question 4

The most effective differentiation bases are those that are hard or expensive for rivals to duplicate.

Accepted Answer

A) True 
 B)False

Question 5

Which term refers to selling a division of an organization?

Accepted Answer

A)  Joint venture 
B)  Divestiture 
C)  Concentric diversification 
D)  Liquidation 
E)  Horizontal integration 
A)  Joint venture 
B)  Divestiture 
C)  Concentric diversification 
D)  Liquidation 
E)  Horizontal integration

Question 6

Market development includes introducing present products into new geographic areas.

Accepted Answer

A) True 
 B)False

Question 7

Long-term objectives are needed at which level(s)in an organization?

Accepted Answer

A)  Corporate 
B)  Divisional 
C)  Functional 
D)  All of the above 
E)  None of the above 
A)  Corporate 
B)  Divisional 
C)  Functional 
D)  All of the above 
E)  None of the above

Question 8

According to journalists' findings,what is a serious obstacle for many small business owners?

Accepted Answer

A)  A lack of business ethics 
B)  An excess of employees and managerial staff 
C)  A lack of experience in networking 
D)  A lack of strategic-management knowledge 
E)  Having too many suppliers 
A)  A lack of business ethics 
B)  An excess of employees and managerial staff 
C)  A lack of experience in networking 
D)  A lack of strategic-management knowledge 
E)  Having too many suppliers

Question 9

McDonalds currently owns more than 50 percent of its restaurants.

Accepted Answer

A) True 
 B)False

Question 10

While outsourcing manufacturing,tech support,and back-office work is quite common,it is still unheard of for companies to outsource any of their research and development activities.

Accepted Answer

A) True 
 B)False

Question 11

The form of bankruptcy in which all the organization's assets are sold in parts for their tangible worth is

Accepted Answer

A)  Chapter 7. 
B)  Chapter 8. 
C)  Chapter 9. 
D)  Chapter 11. 
E)  Chapter 13. 
A)  Chapter 7. 
B)  Chapter 8. 
C)  Chapter 9. 
D)  Chapter 11. 
E)  Chapter 13.

Question 12

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 13

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 14

When a domestic company first begins to export to India,it is an example of

Accepted Answer

A)  horizontal integration. 
B)  backward integration. 
C)  forward integration. 
D)  concentric diversification. 
E)  market development. 
A)  horizontal integration. 
B)  backward integration. 
C)  forward integration. 
D)  concentric diversification. 
E)  market development.

Question 15

Which strategy is appropriate when an organization competes in an industry characterized by rapid technological developments?

Accepted Answer

A)  Retrenchment 
B)  Product development 
C)  Backward integration 
D)  Liquidation 
E)  Market penetration 
A)  Retrenchment 
B)  Product development 
C)  Backward integration 
D)  Liquidation 
E)  Market penetration

Question 16

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 17

There are four basic types of diversification: concentric,conglomerate,forward and backward.

Accepted Answer

A) True 
 B)False

Question 18

A growing trend is for franchisers to buy out their part of the business from their franchisees.

Accepted Answer

A) True 
 B)False

Question 19

A best-value strategy offers products or services to a wide range of customers at the best price-value available on the market.

Accepted Answer

A) True 
 B)False

Question 20

All of the following are listed among the "softer" factors in the Balanced Scorecard except:

Accepted Answer

A)  customer service. 
B)  employee morale. 
C)  product quality. 
D)  business ethics. 
E)  stockholder equity. 
A)  customer service. 
B)  employee morale. 
C)  product quality. 
D)  business ethics. 
E)  stockholder equity.

First mover advantage refers to the benefits a firm may achieve by entering a new market or developing a new product or service prior to rival firms.

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

A leveraged buyout occurs when a firm's management and other private investors use borrowed funds to buy out the firm's shareholders.

The most effective differentiation bases are those that are hard or expensive for rivals to duplicate.

Which term refers to selling a division of an organization?

Market development includes introducing present products into new geographic areas.

Long-term objectives are needed at which level(s)in an organization?

According to journalists' findings,what is a serious obstacle for many small business owners?

McDonalds currently owns more than 50 percent of its restaurants.

While outsourcing manufacturing,tech support,and back-office work is quite common,it is still unheard of for companies to outsource any of their research and development activities.

The form of bankruptcy in which all the organization's assets are sold in parts for their tangible worth is

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

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

When a domestic company first begins to export to India,it is an example of

Which strategy is appropriate when an organization competes in an industry characterized by rapid technological developments?

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

There are four basic types of diversification: concentric,conglomerate,forward and backward.

A growing trend is for franchisers to buy out their part of the business from their franchisees.

A best-value strategy offers products or services to a wide range of customers at the best price-value available on the market.

All of the following are listed among the "softer" factors in the Balanced Scorecard except:

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/Environmental Sustainability

Global/International Issues

Filters

Exam 5: Strategies in Action

First mover advantage refers to the benefits a firm may achieve by entering a new market or developing a new product or service prior to rival firms.

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

A leveraged buyout occurs when a firm's management and other private investors use borrowed funds to buy out the firm's shareholders.

The most effective differentiation bases are those that are hard or expensive for rivals to duplicate.

Which term refers to selling a division of an organization?

Market development includes introducing present products into new geographic areas.

Long-term objectives are needed at which level(s)in an organization?

According to journalists' findings,what is a serious obstacle for many small business owners?

McDonalds currently owns more than 50 percent of its restaurants.

While outsourcing manufacturing,tech support,and back-office work is quite common,it is still unheard of for companies to outsource any of their research and development activities.

The form of bankruptcy in which all the organization's assets are sold in parts for their tangible worth is

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

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

When a domestic company first begins to export to India,it is an example of

Which strategy is appropriate when an organization competes in an industry characterized by rapid technological developments?

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

There are four basic types of diversification: concentric,conglomerate,forward and backward.

A growing trend is for franchisers to buy out their part of the business from their franchisees.

A best-value strategy offers products or services to a wide range of customers at the best price-value available on the market.

All of the following are listed among the "softer" factors in the Balanced Scorecard except:

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/Environmental Sustainability

Global/International Issues

Filters