Question 1

The ability to influence people to adopt the new behaviors needed for strategy implementation is called _____.

Accepted Answer

The answer of The ability to influence people to adopt...

Question 2

The standardization of product design and advertising strategies throughout the world is called _____.

Accepted Answer

The answer of The standardization of product design and advertising...

Question 3

CASE
Scenario - Theresa Teutul
Theresa Teutul was an executive with Digital Industries, a leading manufacturer of color televisions. She recognized that the color television market in the late 1970's was facing significant challenges. After two decades of highly successful development and marketing, the sales of color televisions had slowed and replacing older color television sets largely created her market.
-Using the logic of the BCG grid, Theresa should recognize that her strategic business unit was in which quadrant?

Accepted Answer

A)  Star 
B)  Cash Cow 
C)  Question Mark 
D)  Dog 
E)  None of these 
A)  Star 
B)  Cash Cow 
C)  Question Mark 
D)  Dog 
E)  None of these

Question 4

In a turbulent business climate, managers should focus on strategic stability rather than flexibility.

Accepted Answer

A) True 
 B)False

Question 5

Opportunities are characteristics of the internal environment that have the potential to help the organization achieve or exceed its strategic goals.

Accepted Answer

A) True 
 B)False

Question 6

Threats are characteristics of the internal environment that may prevent the organization from achieving its strategic goals.

Accepted Answer

A) True 
 B)False

Question 7

FLY Industries is a global conglomerate company headquartered in the United States that does business in over fifty countries. The company seeks to balance global efficiencies and local responsiveness by hiring locally as well as from home. It can best be described as using which global corporate strategy?

Accepted Answer

A)  Globalization strategy 
B)  Multidomestic strategy 
C)  Export strategy 
D)  Transnational strategy 
E)  Domestic strategy 
A)  Globalization strategy 
B)  Multidomestic strategy 
C)  Export strategy 
D)  Transnational strategy 
E)  Domestic strategy

Question 8

In the BCG matrix, the star has a(n) _____ market share in a rapidly growing industry.

Accepted Answer

The answer of In the BCG matrix, the star has...

Question 9

_____ is a type of corporate-level strategy that pertains to the organization's mix of strategic business units.

Accepted Answer

The answer of _____ is a type of corporate-level strategy...

Question 10

People need to understand how their individual actions can contribute to achieving an organizational strategy. This can be accomplished by delegating authority, creating teams, and defining roles. These actions are part of which tool for putting strategy into action?

Accepted Answer

A)  Visible leadership 
B)  Candid communication 
C)  Human resources 
D)  Clear roles and accountability 
E)  Bargaining power of employees 
A)  Visible leadership 
B)  Candid communication 
C)  Human resources 
D)  Clear roles and accountability 
E)  Bargaining power of employees

Question 11

Business-level strategies include all of the major functions, including finance, research and development, marketing, and manufacturing.

Accepted Answer

A) True 
 B)False

Question 12

Differentiate between strategy formulation and strategy implementation.

Accepted Answer

Strategy formulation includes the planni

Question 13

If ABC International has standardized its product line throughout the world it is pursuing a:

Accepted Answer

A)  multidomestic strategy. 
B)  retrenchment strategy. 
C)  diversity strategy. 
D)  globalization strategy. 
E)  liquidation strategy. 
A)  multidomestic strategy. 
B)  retrenchment strategy. 
C)  diversity strategy. 
D)  globalization strategy. 
E)  liquidation strategy.

Question 14

The star 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 15

The mix of business units and product lines that fit together in a logical way to provide synergy and competitive advantage for the corporation pertains to portfolio strategy.

Accepted Answer

A) True 
 B)False

Question 16

The _____ strategy involves an attempt to distinguish the firm's products or services from others in the industry.

Accepted Answer

The answer of The _____ strategy involves an attempt to...

Question 17

Cost leadership is a type of competitive strategy with which the organization seeks to distinguish its products or services from that of competitors.

Accepted Answer

A) True 
 B)False

Question 18

Research has shown that strategic thinking and planning positively affect a firm's performance and financial success.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following lists the strategic management process in proper order?

Accepted Answer

A)  Formulate strategy; Evaluate strategy; Perform SWOT analysis; Define new mission/goals; Execute strategy; Control strategy. 
B)  Perform SWOT analysis; Evaluate current mission/goals; Formulate strategy; Execute strategy; Define new mission/goals. 
C)  Evaluate current mission/goals; Define new mission/goals; Formulate strategy; Execute strategy; Perform SWOT analysis . 
D)  Evaluate current mission/goals; Perform SWOT analysis; Define new mission/goals; Formulate strategy; Execute strategy. 
E)  Define new mission/goals; Execute strategy; Formulate strategy; Evaluate new mission/goals; Perform SWOT analysis. 
A)  Formulate strategy; Evaluate strategy; Perform SWOT analysis; Define new mission/goals; Execute strategy; Control strategy. 
B)  Perform SWOT analysis; Evaluate current mission/goals; Formulate strategy; Execute strategy; Define new mission/goals. 
C)  Evaluate current mission/goals; Define new mission/goals; Formulate strategy; Execute strategy; Perform SWOT analysis . 
D)  Evaluate current mission/goals; Perform SWOT analysis; Define new mission/goals; Formulate strategy; Execute strategy. 
E)  Define new mission/goals; Execute strategy; Formulate strategy; Evaluate new mission/goals; Perform SWOT analysis.

Question 20

Top managers and chief executives have the final responsibility for strategic planning.

Accepted Answer

A) True 
 B)False

The ability to influence people to adopt the new behaviors needed for strategy implementation is called _____.

The standardization of product design and advertising strategies throughout the world is called _____.

In a turbulent business climate, managers should focus on strategic stability rather than flexibility.

Opportunities are characteristics of the internal environment that have the potential to help the organization achieve or exceed its strategic goals.

Threats are characteristics of the internal environment that may prevent the organization from achieving its strategic goals.

In the BCG matrix, the star has a(n) _____ market share in a rapidly growing industry.

_____ is a type of corporate-level strategy that pertains to the organization's mix of strategic business units.

People need to understand how their individual actions can contribute to achieving an organizational strategy. This can be accomplished by delegating authority, creating teams, and defining roles. These actions are part of which tool for putting strategy into action?

Business-level strategies include all of the major functions, including finance, research and development, marketing, and manufacturing.

Differentiate between strategy formulation and strategy implementation.

If ABC International has standardized its product line throughout the world it is pursuing a:

The star has a:

The mix of business units and product lines that fit together in a logical way to provide synergy and competitive advantage for the corporation pertains to portfolio strategy.

The _____ strategy involves an attempt to distinguish the firm's products or services from others in the industry.

Cost leadership is a type of competitive strategy with which the organization seeks to distinguish its products or services from that of competitors.

Research has shown that strategic thinking and planning positively affect a firm's performance and financial success.

Which of the following lists the strategic management process in proper order?

Top managers and chief executives 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

The ability to influence people to adopt the new behaviors needed for strategy implementation is called _____.

The standardization of product design and advertising strategies throughout the world is called _____.

In a turbulent business climate, managers should focus on strategic stability rather than flexibility.

Opportunities are characteristics of the internal environment that have the potential to help the organization achieve or exceed its strategic goals.

Threats are characteristics of the internal environment that may prevent the organization from achieving its strategic goals.

In the BCG matrix, the star has a(n) _____ market share in a rapidly growing industry.

_____ is a type of corporate-level strategy that pertains to the organization's mix of strategic business units.

People need to understand how their individual actions can contribute to achieving an organizational strategy. This can be accomplished by delegating authority, creating teams, and defining roles. These actions are part of which tool for putting strategy into action?

Business-level strategies include all of the major functions, including finance, research and development, marketing, and manufacturing.

Differentiate between strategy formulation and strategy implementation.

If ABC International has standardized its product line throughout the world it is pursuing a:

The star has a:

The mix of business units and product lines that fit together in a logical way to provide synergy and competitive advantage for the corporation pertains to portfolio strategy.

The _____ strategy involves an attempt to distinguish the firm's products or services from others in the industry.

Cost leadership is a type of competitive strategy with which the organization seeks to distinguish its products or services from that of competitors.

Research has shown that strategic thinking and planning positively affect a firm's performance and financial success.

Which of the following lists the strategic management process in proper order?

Top managers and chief executives 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