Question 1

Which of the following statements is true about licensing and franchising?

Accepted Answer

A)  It involves setting a fully operational independent entity in a foreign country to conduct business. 
B)  Unlike franchising,licensing is used by service firms such as hotels and fast-food chains. 
C)  Like franchising,licensing is a high-cost means of market entry. 
D)  The most important risk involved with licensing is the potential loss of proprietary advantage. 
A)  It involves setting a fully operational independent entity in a foreign country to conduct business. 
B)  Unlike franchising,licensing is used by service firms such as hotels and fast-food chains. 
C)  Like franchising,licensing is a high-cost means of market entry. 
D)  The most important risk involved with licensing is the potential loss of proprietary advantage. D

Question 2

According to military leaders,tactics differed from strategy in that:

Accepted Answer

A)  tactics were usually aimed at creating a military advantage. 
B)  tactics represented the specific moves their armies would perform on the battlefield. 
C)  tactics represented the grand plan for the war. 
D)  tactics referred to an individual leader's ability to marshal a large set of resources. 
A)  tactics were usually aimed at creating a military advantage. 
B)  tactics represented the specific moves their armies would perform on the battlefield. 
C)  tactics represented the grand plan for the war. 
D)  tactics referred to an individual leader's ability to marshal a large set of resources. B

Question 3

Which of the following statements best describes the function of a firm's strategy?

Accepted Answer

A)  It states the firm's standardized rules and procedures. 
B)  It specifies how the firm intends to achieve its goals. 
C)  It provides information for stakeholder mapping. 
D)  It classifies the internal business environmental factors. 
A)  It states the firm's standardized rules and procedures. 
B)  It specifies how the firm intends to achieve its goals. 
C)  It provides information for stakeholder mapping. 
D)  It classifies the internal business environmental factors. B

Question 4

The process of identifying how a firm can best align its resources to carve out a defensible position in the marketplace is known as _____.

Accepted Answer

A)  scenario building 
B)  strategy formulation 
C)  contingency planning 
D)  stakeholder mapping 
A)  scenario building 
B)  strategy formulation 
C)  contingency planning 
D)  stakeholder mapping

Question 5

The first step to create competitive advantage through a strategy is to:

Accepted Answer

A)  generate better information than the rivals. 
B)  make choices based on the available information. 
C)  convert strategic choices into decisive actions. 
D)  analyze the information that is available. 
A)  generate better information than the rivals. 
B)  make choices based on the available information. 
C)  convert strategic choices into decisive actions. 
D)  analyze the information that is available.

Question 6

In considering a strategy for a firm,its leaders must decide on how they seek to position the firm within the marketplace.

Accepted Answer

A) True 
 B)False

Question 7

Z-Technologies,a manufacturing company in Berylia,is a global organization.The company owns a manufacturing unit in Erbia and another one in Rhodia,where the demand for its products is more.Though it is an expensive and risky proposition,the parent company has full control of the manufacturing units in the foreign countries.Which of the following market entry strategies has been used by Z-Technologies?

Accepted Answer

A)  Licensing and franchising 
B)  Joint venture and alliances 
C)  Wholly-owned subsidiaries 
D)  Exporting 
A)  Licensing and franchising 
B)  Joint venture and alliances 
C)  Wholly-owned subsidiaries 
D)  Exporting

Question 8

To Roman military leaders,strategy represented the specific moves or actions their armies would perform on the battlefield.

Accepted Answer

A) True 
 B)False

Question 9

The transnational strategy is a cross between global and multinational strategies.

Accepted Answer

A) True 
 B)False

Question 10

When a manager determines whether a firm's strategy leverages its key resources,which of the following criteria for evaluating the quality of a firm's strategy is the manager assessing?

Accepted Answer

A)  External fit 
B)  Internal fit 
C)  Differentiation 
D)  Implementable 
A)  External fit 
B)  Internal fit 
C)  Differentiation 
D)  Implementable

Question 11

Corporate-level strategy entails "how a company will compete in a given business and position itself among its competitors."

Accepted Answer

A) True 
 B)False

Question 12

Briefly describe the use of strategy by the Roman military leaders.

Accepted Answer

For thousands of years,the development a

Question 13

In developing a strategy,a manager must realize that competitive strategy is primarily about operational efficiency.

Accepted Answer

A) True 
 B)False

Question 14

For a firm's strategy to be effective and defensible,a manager must create fit and alignment among its chosen activities.

Accepted Answer

A) True 
 B)False

Question 15

Strategies that combine elements of multinational and global strategies by using foreign subsidiaries to produce and distribute products are known as _____.

Accepted Answer

A)  business-level strategies 
B)  international strategies 
C)  corporate-level strategies 
D)  transnational strategies 
A)  business-level strategies 
B)  international strategies 
C)  corporate-level strategies 
D)  transnational strategies

Question 16

Foodies,a food manufacturing company,made plans to either open a new outlet in Berylia,a country where the majority are low-income families,or Erbia,a country where the majority of the people belong to high-income families.They finally decide to open a new outlet in Berylia,by offering products with reduced cost as the demand for their product is greater in Berylia.This scenario is an example of _____ in defining a strategy.

Accepted Answer

A)  making trade-offs 
B)  creating fit among activities 
C)  choosing a set of activities 
D)  developing objectives 
A)  making trade-offs 
B)  creating fit among activities 
C)  choosing a set of activities 
D)  developing objectives

Question 17

In the formulation of strategy,managers must create a solid fit among the activities to:

Accepted Answer

A)  make a competitive strategy that is different from others. 
B)  offer a service that cannot be easily copied by competitors. 
C)  decide what the company will not be doing. 
D)  operate more effectively than its competitors. 
A)  make a competitive strategy that is different from others. 
B)  offer a service that cannot be easily copied by competitors. 
C)  decide what the company will not be doing. 
D)  operate more effectively than its competitors.

Question 18

According to the Roman military strategists,strategy was considered as:

Accepted Answer

A)  the manager's "game plan" to attain personal gain. 
B)  represented by the specific moves or actions their armies performed. 
C)  a plan of action designed to achieve a specific goal. 
D)  a plan not usually aimed at creating a military advantage. 
A)  the manager's "game plan" to attain personal gain. 
B)  represented by the specific moves or actions their armies performed. 
C)  a plan of action designed to achieve a specific goal. 
D)  a plan not usually aimed at creating a military advantage.

Question 19

According to Tzu,the process of gathering information was an integral component of developing strategy.

Accepted Answer

A) True 
 B)False

Question 20

Describe the business-level strategy.

Accepted Answer

Business-level strategy entails "how a c

Which of the following statements is true about licensing and franchising?

According to military leaders,tactics differed from strategy in that:

Which of the following statements best describes the function of a firm's strategy?

The process of identifying how a firm can best align its resources to carve out a defensible position in the marketplace is known as _____.

The first step to create competitive advantage through a strategy is to:

In considering a strategy for a firm,its leaders must decide on how they seek to position the firm within the marketplace.

To Roman military leaders,strategy represented the specific moves or actions their armies would perform on the battlefield.

The transnational strategy is a cross between global and multinational strategies.

When a manager determines whether a firm's strategy leverages its key resources,which of the following criteria for evaluating the quality of a firm's strategy is the manager assessing?

Corporate-level strategy entails "how a company will compete in a given business and position itself among its competitors."

Briefly describe the use of strategy by the Roman military leaders.

In developing a strategy,a manager must realize that competitive strategy is primarily about operational efficiency.

For a firm's strategy to be effective and defensible,a manager must create fit and alignment among its chosen activities.

Strategies that combine elements of multinational and global strategies by using foreign subsidiaries to produce and distribute products are known as _____.

In the formulation of strategy,managers must create a solid fit among the activities to:

According to the Roman military strategists,strategy was considered as:

According to Tzu,the process of gathering information was an integral component of developing strategy.

Describe the business-level strategy.

Introduction to Management

The Global Business Environment

Ethics and Corporate Social Responsibility

Business-Level Strategy

Corporate-Level Strategy

Organizational Design

Organizational Culture

Managing Human Capital

Performance Management

Organizational Change

Leadership in Organizations

Becoming a Leader: Knowing Yourself

Power and Influence

Decision Making

Conflict and Negotiation

Leading Teams

Motivation

Communication

Networking

Filters

Exam 4: Introduction to Strategy

Which of the following statements is true about licensing and franchising?

According to military leaders,tactics differed from strategy in that:

Which of the following statements best describes the function of a firm's strategy?

The process of identifying how a firm can best align its resources to carve out a defensible position in the marketplace is known as _____.

The first step to create competitive advantage through a strategy is to:

In considering a strategy for a firm,its leaders must decide on how they seek to position the firm within the marketplace.

To Roman military leaders,strategy represented the specific moves or actions their armies would perform on the battlefield.

The transnational strategy is a cross between global and multinational strategies.

When a manager determines whether a firm's strategy leverages its key resources,which of the following criteria for evaluating the quality of a firm's strategy is the manager assessing?

Corporate-level strategy entails "how a company will compete in a given business and position itself among its competitors."

Briefly describe the use of strategy by the Roman military leaders.

In developing a strategy,a manager must realize that competitive strategy is primarily about operational efficiency.

For a firm's strategy to be effective and defensible,a manager must create fit and alignment among its chosen activities.

Strategies that combine elements of multinational and global strategies by using foreign subsidiaries to produce and distribute products are known as _____.

In the formulation of strategy,managers must create a solid fit among the activities to:

According to the Roman military strategists,strategy was considered as:

According to Tzu,the process of gathering information was an integral component of developing strategy.

Describe the business-level strategy.

Introduction to Management

The Global Business Environment

Ethics and Corporate Social Responsibility

Business-Level Strategy

Corporate-Level Strategy

Organizational Design

Organizational Culture

Managing Human Capital

Performance Management

Organizational Change

Leadership in Organizations

Becoming a Leader: Knowing Yourself

Power and Influence

Decision Making

Conflict and Negotiation

Leading Teams

Motivation

Communication

Networking

Filters