Question 1

Some people argue that _____ is the most difficult and most important part of strategic management.

Accepted Answer

A)  SWOT analysis 
B)  strategic formation 
C)  strategic execution 
D)  strategic analysis 
E)  strategy evaluation 
A)  SWOT analysis 
B)  strategic formation 
C)  strategic execution 
D)  strategic analysis 
E)  strategy evaluation

Question 2

The question What business are we in? concerns the _____ strategy.

Accepted Answer

The answer of The question What business are we in?...

Question 3

When an organization expands into a totally new line of business, it is implementing a strategy of:

Accepted Answer

A)  Related diversification 
B)  Unrelated diversification 
C)  Cross-functional diversification 
D)  Product line diversification 
E)  Industry diversification 
A)  Related diversification 
B)  Unrelated diversification 
C)  Cross-functional diversification 
D)  Product line diversification 
E)  Industry diversification

Question 4

Which of the following strategies would be appropriate when the need for both national responsiveness and global integration is low?

Accepted Answer

A)  Globalization 
B)  Multidomestic 
C)  Export 
D)  Transnational 
E)  Import 
A)  Globalization 
B)  Multidomestic 
C)  Export 
D)  Transnational 
E)  Import

Question 5

The administration and implementation of the strategic plan is strategy execution.

Accepted Answer

A) True 
 B)False

Question 6

The condition that exists when the organization's parts interact to produce a joint effect that is greater than the sum of the parts acting alone is known as:

Accepted Answer

A)  core competence. 
B)  synergy. 
C)  value creation. 
D)  business-level strategy. 
E)  multidomestic strategy. 
A)  core competence. 
B)  synergy. 
C)  value creation. 
D)  business-level strategy. 
E)  multidomestic strategy.

Question 7

A transnational strategy seeks to achieve both global integration and national responsiveness.

Accepted Answer

A) True 
 B)False

Question 8

_____ can be defined as the combination of benefits received and costs paid by the customer.

Accepted Answer

A)  Organizational benefits 
B)  Value 
C)  Cost-benefit diversity 
D)  Synergy 
E)  Core competence 
A)  Organizational benefits 
B)  Value 
C)  Cost-benefit diversity 
D)  Synergy 
E)  Core competence

Question 9

Which of the following strategies involve an attempt to distinguish the firm's products or services from others in the industry?

Accepted Answer

A)  Cost leadership 
B)  Differentiation 
C)  Focus 
D)  Internal growth 
E)  Liquidation 
A)  Cost leadership 
B)  Differentiation 
C)  Focus 
D)  Internal growth 
E)  Liquidation

Question 10

Name and describe the three types of global strategies.

Accepted Answer

The three types of global strategies are

Question 11

Sherri has been asked to participate on a cross-functional task force that is charged with performing an audit checklist for her advertising firm. The task force will analyze organizational strengths and weaknesses as they apply to the firm. Sherri's task is to analyze management quality, staff quality, degree of centralization, and organizational charts. This level of analysis pertains to which area of the audit?

Accepted Answer

A)  Management and organization 
B)  Marketing 
C)  Human resources 
D)  Research and development 
E)  Production 
A)  Management and organization 
B)  Marketing 
C)  Human resources 
D)  Research and development 
E)  Production

Question 12

Which of the following refers to the planning and decision making that lead to the establishment of the organization's goals and of a specific strategic plan?

Accepted Answer

A)  Strategy formulation 
B)  Strategy implementation 
C)  Strategy coordination 
D)  Strategy control 
E)  SWOT 
A)  Strategy formulation 
B)  Strategy implementation 
C)  Strategy coordination 
D)  Strategy control 
E)  SWOT

Question 13

With a multidomestic strategy, a company will achieve the globalization or standardization of marketing and production approaches.

Accepted Answer

A) True 
 B)False

Question 14

_____ refers to the use of managerial tools to direct resources toward the achievement of strategic goals.

Accepted Answer

A)  Strategy formulation 
B)  Strategy coordination 
C)  Strategy execution 
D)  Strategy control 
E)  Strategy planning 
A)  Strategy formulation 
B)  Strategy coordination 
C)  Strategy execution 
D)  Strategy control 
E)  Strategy planning

Question 15

The question mark has a:

Accepted Answer

A)  large market share in a rapidly growing industry. 
B)  large market share in a slow growth industry. 
C)  small market share in a rapidly growing industry. 
D)  small share of a slow growth market. 
E)  moderate market share in a slow growth industry. 
A)  large market share in a rapidly growing industry. 
B)  large market share in a slow growth industry. 
C)  small market share in a rapidly growing industry. 
D)  small share of a slow growth market. 
E)  moderate market share in a slow growth industry.

Question 16

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's traditional brokerage business could be classified as a _____.

Accepted Answer

A)  cash cow 
B)  dog 
C)  star 
D)  question mark 
E)  stuck in the middle business 
A)  cash cow 
B)  dog 
C)  star 
D)  question mark 
E)  stuck in the middle business

Question 17

A corporate-level strategy is concerned with the question:

Accepted Answer

A)  what business are we in? 
B)  how do we compete? 
C)  how do we support our chosen strategy? 
D)  where do we market our products? 
E)  should we promote from within? 
A)  what business are we in? 
B)  how do we compete? 
C)  how do we support our chosen strategy? 
D)  where do we market our products? 
E)  should we promote from within?

Question 18

Competitive advantage refers to the set of decisions and actions used to formulate and implement strategies.

Accepted Answer

A) True 
 B)False

Question 19

_____ refers to the modification of product design and advertising strategies to suit the specific needs of individual countries.

Accepted Answer

A)  Domestic strategy 
B)  Global strategy 
C)  Transnational strategy 
D)  Multidomestic strategy 
E)  Market design strategy 
A)  Domestic strategy 
B)  Global strategy 
C)  Transnational strategy 
D)  Multidomestic strategy 
E)  Market design strategy

Question 20

Front-line managers have the final responsibility for strategic planning.

Accepted Answer

A) True 
 B)False

Some people argue that _____ is the most difficult and most important part of strategic management.

The question What business are we in? concerns the _____ strategy.

When an organization expands into a totally new line of business, it is implementing a strategy of:

Which of the following strategies would be appropriate when the need for both national responsiveness and global integration is low?

The administration and implementation of the strategic plan is strategy execution.

The condition that exists when the organization's parts interact to produce a joint effect that is greater than the sum of the parts acting alone is known as:

A transnational strategy seeks to achieve both global integration and national responsiveness.

_____ can be defined as the combination of benefits received and costs paid by the customer.

Which of the following strategies involve an attempt to distinguish the firm's products or services from others in the industry?

Name and describe the three types of global strategies.

Which of the following refers to the planning and decision making that lead to the establishment of the organization's goals and of a specific strategic plan?

With a multidomestic strategy, a company will achieve the globalization or standardization of marketing and production approaches.

_____ refers to the use of managerial tools to direct resources toward the achievement of strategic goals.

The question mark has a:

A corporate-level strategy is concerned with the question:

Competitive advantage refers to the set of decisions and actions used to formulate and implement strategies.

_____ refers to the modification of product design and advertising strategies to suit the specific needs of individual countries.

Front-line managers have the final responsibility for strategic planning.

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

Some people argue that _____ is the most difficult and most important part of strategic management.

The question What business are we in? concerns the _____ strategy.

When an organization expands into a totally new line of business, it is implementing a strategy of:

Which of the following strategies would be appropriate when the need for both national responsiveness and global integration is low?

The administration and implementation of the strategic plan is strategy execution.

The condition that exists when the organization's parts interact to produce a joint effect that is greater than the sum of the parts acting alone is known as:

A transnational strategy seeks to achieve both global integration and national responsiveness.

_____ can be defined as the combination of benefits received and costs paid by the customer.

Which of the following strategies involve an attempt to distinguish the firm's products or services from others in the industry?

Name and describe the three types of global strategies.

Which of the following refers to the planning and decision making that lead to the establishment of the organization's goals and of a specific strategic plan?

With a multidomestic strategy, a company will achieve the globalization or standardization of marketing and production approaches.

_____ refers to the use of managerial tools to direct resources toward the achievement of strategic goals.

The question mark has a:

A corporate-level strategy is concerned with the question:

Competitive advantage refers to the set of decisions and actions used to formulate and implement strategies.

_____ refers to the modification of product design and advertising strategies to suit the specific needs of individual countries.

Front-line managers have the final responsibility for strategic planning.

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