Question 1

Techniques used to monitor external environments include:

Accepted Answer

A)  hiring scanning organizations. 
B)  hiring the competitive intelligence professionals. 
C)  government reports. 
D)  professional journals. 
E)  all of these. 
A)  hiring scanning organizations. 
B)  hiring the competitive intelligence professionals. 
C)  government reports. 
D)  professional journals. 
E)  all of these. E

Question 2

The three levels of strategy are business, corporate, and global.

Accepted Answer

A) True 
 B)False  False

Question 3

List the three global corporate strategies.

Accepted Answer

Globalization strategy, transnational strategy, and multidomestic strategy.

Question 4

The essence of formulating strategy is choosing how the organization will conform to become like its key competitors in the industry.

Accepted Answer

A) True 
 B)False

Question 5

The use of managerial and organizational tools to direct resources toward accomplishing strategic results is known as _____.

Accepted Answer

The answer of The use of managerial and organizational tools...

Question 6

In strategy implementation, leadership is the ability to influence people to adopt the new behaviors needed.

Accepted Answer

A) True 
 B)False

Question 7

In order to protect an organization's mission, the human resource functions are removed from strategic goals.

Accepted Answer

A) True 
 B)False

Question 8

Some companies hire competitive intelligence professionals to scan the external environment and provide data and research on relevant domestic and global trends.

Accepted Answer

A) True 
 B)False

Question 9

Scenario - SS.com
Faced with rapidly growing business, Swift Stocks, Inc., a global brokerage company with the largest market share, recently announced that it has established an on-line stock investment and trading subsidiary, SS.com, where investors can trade stocks at the lowest rates in the industry. The .com subsidiary has less than one percent market share but it faces a very high business growth rate. In the brokerage industry the competition is fierce and all players are cutting their on-line commission rates.
-Swift Stock is following which strategy, according to Porter, through the .com subsidiary?

Accepted Answer

A)  Stability 
B)  Cost leadership 
C)  Focus 
D)  Differentiation 
E)  Retrenchment 
A)  Stability 
B)  Cost leadership 
C)  Focus 
D)  Differentiation 
E)  Retrenchment

Question 10

What type of organizational unit has a unique business mission, product line, competitors, and markets relative to other units in the same corporation?

Accepted Answer

A)  Product unit 
B)  Functional unit 
C)  Strategic business unit 
D)  Operational unit 
E)  Business consulting group unit 
A)  Product unit 
B)  Functional unit 
C)  Strategic business unit 
D)  Operational unit 
E)  Business consulting group unit

Question 11

Which of these is true about the cash cow?

Accepted Answer

A)  It generates tremendous profits in a rapidly growing industry. 
B)  It has a small market share in a rapidly growing industry. 
C)  It has a small market share in a slow growth industry. 
D)  It has a large market share in a slow growth industry. 
E)  It is generally a dead business that should be divested. 
A)  It generates tremendous profits in a rapidly growing industry. 
B)  It has a small market share in a rapidly growing industry. 
C)  It has a small market share in a slow growth industry. 
D)  It has a large market share in a slow growth industry. 
E)  It is generally a dead business that should be divested.

Question 12

Vertical integration means a firm expands into businesses that either produce the supplies needed to make products or that distribute and sell those products to customers.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is a business activity that an organization does especially well relative to its competition?

Accepted Answer

A)  Strategy 
B)  Synergy 
C)  Cash cow 
D)  Core competence 
E)  Multidomestic 
A)  Strategy 
B)  Synergy 
C)  Cash cow 
D)  Core competence 
E)  Multidomestic

Question 14

Briefly discuss Porter's three competitive strategies.

Accepted Answer

Porter identified three competitive stra

Question 15

Briefly describe the Boston Consulting Group matrix, including its dimensions, quadrants, and strategic recommendations.

Accepted Answer

The two dimensions of the matrix are bus

Question 16

It is argued that _____ is the most difficult and most important part of strategic management.

Accepted Answer

The answer of It is argued that _____ is the...

Question 17

The world-wide standardization of product design and advertising refers to globalization.

Accepted Answer

A) True 
 B)False

Question 18

Where does the information about opportunities and threats comes from?

Accepted Answer

A)  An analysis of the organization's internal environment 
B)  A department by department study of the organization 
C)  Scanning the external environments 
D)  Employee grievances 
E)  Financial ratios of the organization 
A)  An analysis of the organization's internal environment 
B)  A department by department study of the organization 
C)  Scanning the external environments 
D)  Employee grievances 
E)  Financial ratios of the organization

Question 19

Paramount, Inc. is particularly concerned about pending legislation in Congress that would further regulate their organization. This legislation would be classified as a(n) _____.

Accepted Answer

A)  external opportunity 
B)  internal strength 
C)  external threat 
D)  external weakness 
E)  congressional chaos 
A)  external opportunity 
B)  internal strength 
C)  external threat 
D)  external weakness 
E)  congressional chaos

Question 20

The dog, according to the BCG Matrix, is a poor performer.

Accepted Answer

A) True 
 B)False

Techniques used to monitor external environments include:

The three levels of strategy are business, corporate, and global.

List the three global corporate strategies.

The essence of formulating strategy is choosing how the organization will conform to become like its key competitors in the industry.

The use of managerial and organizational tools to direct resources toward accomplishing strategic results is known as _____.

In strategy implementation, leadership is the ability to influence people to adopt the new behaviors needed.

In order to protect an organization's mission, the human resource functions are removed from strategic goals.

Some companies hire competitive intelligence professionals to scan the external environment and provide data and research on relevant domestic and global trends.

What type of organizational unit has a unique business mission, product line, competitors, and markets relative to other units in the same corporation?

Which of these is true about the cash cow?

Vertical integration means a firm expands into businesses that either produce the supplies needed to make products or that distribute and sell those products to customers.

Which of the following is a business activity that an organization does especially well relative to its competition?

Briefly discuss Porter's three competitive strategies.

Briefly describe the Boston Consulting Group matrix, including its dimensions, quadrants, and strategic recommendations.

It is argued that _____ is the most difficult and most important part of strategic management.

The world-wide standardization of product design and advertising refers to globalization.

Where does the information about opportunities and threats comes from?

Paramount, Inc. is particularly concerned about pending legislation in Congress that would further regulate their organization. This legislation would be classified as a(n) _____.

The dog, according to the BCG Matrix, is a poor performer.

Innovative Management for a Changing World

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managing Small Business Start Ups

Managerial Planning and Goal Setting

Managerial Decision Making

Designing Adaptive Organizations

Managing Change and Innovation

Managing Human Resources

Managing Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Filters

Exam 8: Strategy Formulation and Execution

Techniques used to monitor external environments include:

The three levels of strategy are business, corporate, and global.

List the three global corporate strategies.

The essence of formulating strategy is choosing how the organization will conform to become like its key competitors in the industry.

The use of managerial and organizational tools to direct resources toward accomplishing strategic results is known as _____.

In strategy implementation, leadership is the ability to influence people to adopt the new behaviors needed.

In order to protect an organization's mission, the human resource functions are removed from strategic goals.

Some companies hire competitive intelligence professionals to scan the external environment and provide data and research on relevant domestic and global trends.

What type of organizational unit has a unique business mission, product line, competitors, and markets relative to other units in the same corporation?

Which of these is true about the cash cow?

Vertical integration means a firm expands into businesses that either produce the supplies needed to make products or that distribute and sell those products to customers.

Which of the following is a business activity that an organization does especially well relative to its competition?

Briefly discuss Porter's three competitive strategies.

Briefly describe the Boston Consulting Group matrix, including its dimensions, quadrants, and strategic recommendations.

It is argued that _____ is the most difficult and most important part of strategic management.

The world-wide standardization of product design and advertising refers to globalization.

Where does the information about opportunities and threats comes from?

Paramount, Inc. is particularly concerned about pending legislation in Congress that would further regulate their organization. This legislation would be classified as a(n) _____.

The dog, according to the BCG Matrix, is a poor performer.

Innovative Management for a Changing World

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managing Small Business Start Ups

Managerial Planning and Goal Setting

Managerial Decision Making

Designing Adaptive Organizations

Managing Change and Innovation

Managing Human Resources

Managing Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Filters