Question 1

_____ is a way of approaching business opportunities and challenges.

Accepted Answer

A)  Supply-chain management 
B)  Value migration 
C)  Self-dealing 
D)  Strategic management 
E)  Greenwashing 
A)  Supply-chain management 
B)  Value migration 
C)  Self-dealing 
D)  Strategic management 
E)  Greenwashing D

Question 2

Pursuing a strategy of _____ reduces an organization's dependence on any one of its business activities and thus reduces economic risk.

Accepted Answer

A)  single-product 
B)  single-service 
C)  divestiture 
D)  related diversification 
E)  trade restraint 
A)  single-product 
B)  single-service 
C)  divestiture 
D)  related diversification 
E)  trade restraint D

Question 3

Match the following numbered items with the most correct response letter.
A response may be used once, more than once, or not at all.
You are contemplating opening a dry cleaning business in a commuter town. Assess the following information using SWOT analysis.
-How the organization uses its people and money

Accepted Answer

A) Distinctive competence 
B) Resource deployment 
C) Scope 
D) Synergy 
A) Distinctive competence 
B) Resource deployment 
C) Scope 
D) Synergy B

Question 4

In the GE Business Screen matrix, which of the following is a determinant of industry attractiveness?

Accepted Answer

A)  Market share 
B)  Market size 
C)  Product quality 
D)  Operating costs 
E)  Service network 
A)  Market share 
B)  Market size 
C)  Product quality 
D)  Operating costs 
E)  Service network

Question 5

The narrowest of the standing plans, _____ describe exactly how specific activities are to be carried out.

Accepted Answer

A)  standard operating procedures 
B)  projects and programs 
C)  rules and regulations 
D)  contingency theories 
E)  crisis management procedures 
A)  standard operating procedures 
B)  projects and programs 
C)  rules and regulations 
D)  contingency theories 
E)  crisis management procedures

Question 6

A(n) _____ is a comprehensive plan for accomplishing an organization's goals.

Accepted Answer

A)  scope 
B)  competence 
C)  strategy 
D)  article of incorporation 
E)  statement of qualification 
A)  scope 
B)  competence 
C)  strategy 
D)  article of incorporation 
E)  statement of qualification

Question 7

A(n) _____ is an area in an organization's environment that, if exploited, may generate higher performance.

Accepted Answer

A)  organizational opportunity 
B)  economic downswing 
C)  organizational strength 
D)  process gain 
E)  process loss 
A)  organizational opportunity 
B)  economic downswing 
C)  organizational strength 
D)  process gain 
E)  process loss

Question 8

Alpha Inc. is a large shoe manufacturer that caters to a large customer base. In addition to the high volume of shoes it manufactures, the company sells simple-designed sneakers for low prices. Many customers buy Alpha shoes because they are durable and inexpensive. Which of the following strategies is illustrated in the scenario?

Accepted Answer

A)  Overall cost leadership strategy 
B)  Market diversification strategy 
C)  Differentiation strategy 
D)  Divesting strategy 
E)  Market development strategy 
A)  Overall cost leadership strategy 
B)  Market diversification strategy 
C)  Differentiation strategy 
D)  Divesting strategy 
E)  Market development strategy

Question 9

Goals set for and by line-managers are called _____ goals.

Accepted Answer

A)  strategic 
B)  tactical 
C)  developmental 
D)  organizational 
E)  operational 
A)  strategic 
B)  tactical 
C)  developmental 
D)  organizational 
E)  operational

Question 10

The top managers of Dietizza, a large low-fat pizza chain, plan to increase the profitability of all its outlets by 15 percent in a period of two years. This is a(n) _____ goal.

Accepted Answer

A)  tactical 
B)  operational 
C)  nonspecific 
D)  divestiture 
E)  strategic 
A)  tactical 
B)  operational 
C)  nonspecific 
D)  divestiture 
E)  strategic

Question 11

Match the following numbered items with the most correct response letter.
A response may be used once, more than once, or not at all.
-McDonald's owns and franchises fast-food restaurants.

Accepted Answer

A) Single-product strategy 
B) Related diversification 
C) Unrelated diversification 
A) Single-product strategy 
B) Related diversification 
C) Unrelated diversification

Question 12

Strategies to slow the entry of competitors are important if an organization is entering an industry during the _____ stage of the product life cycle.

Accepted Answer

A)  growth 
B)  introduction 
C)  decline 
D)  maturity 
E)  recovery 
A)  growth 
B)  introduction 
C)  decline 
D)  maturity 
E)  recovery

Question 13

_____ describes the number of different businesses that an organization is engaged in and the extent to which these businesses are related to one another.

Accepted Answer

A)  Entropy 
B)  Diversification 
C)  Divestiture 
D)  Competency 
E)  Economy of scale 
A)  Entropy 
B)  Diversification 
C)  Divestiture 
D)  Competency 
E)  Economy of scale

Question 14

Hydraliscious is a juice brand that sells a wide range of fruit juices that only uses organic ingredients, which is its uniqueness when compared with other brands. Even though Hydraliscious juices are highly priced, a lot of customers buy them because of the quality of the juices. Hydraliscious is most likely to be using a(n)_____ strategy.

Accepted Answer

A)  differentiation 
B)  cost-leadership 
C)  divesting 
D)  bundle pricing 
E)  anti-competitive 
A)  differentiation 
B)  cost-leadership 
C)  divesting 
D)  bundle pricing 
E)  anti-competitive

Question 15

Tactical goals are set by:

Accepted Answer

A)  first-line managers. 
B)  middle managers. 
C)  assembly-line managers. 
D)  stockholders. 
E)  investors. 
A)  first-line managers. 
B)  middle managers. 
C)  assembly-line managers. 
D)  stockholders. 
E)  investors.

Question 16

A(n) _____ is an internal skill or capability that does not enable a company to choose and implement strategies that support its mission.

Accepted Answer

A)  organizational weakness 
B)  organizational threat 
C)  market threat 
D)  process gain 
E)  economic downswing 
A)  organizational weakness 
B)  organizational threat 
C)  market threat 
D)  process gain 
E)  economic downswing

Question 17

_____ techniques are methods that diversified organizations use to determine in which businesses to engage and how to manage these businesses to maximize corporate performance.

Accepted Answer

A)  Divestiture 
B)  Portfolio management 
C)  Process gain 
D)  Deskilling 
E)  Entropy 
A)  Divestiture 
B)  Portfolio management 
C)  Process gain 
D)  Deskilling 
E)  Entropy

Question 18

The starting point in formulating strategies is usually:

Accepted Answer

A)  SWOT analysis. 
B)  resource deployment. 
C)  divesting. 
D)  deskilling. 
E)  contingency analysis. 
A)  SWOT analysis. 
B)  resource deployment. 
C)  divesting. 
D)  deskilling. 
E)  contingency analysis.

Question 19

_____ strategy is the set of strategic alternatives from which an organization chooses as it manages its operations simultaneously across several industries and several markets.

Accepted Answer

A)  Corporate-level 
B)  Business-level 
C)  Operational-level 
D)  Divestiture 
E)  Anti-competitive 
A)  Corporate-level 
B)  Business-level 
C)  Operational-level 
D)  Divestiture 
E)  Anti-competitive

Question 20

A(n) _____ is a comprehensive plan for accomplishing an organization's goals.

Accepted Answer

strategy
A strategy

_____ is a way of approaching business opportunities and challenges.

Pursuing a strategy of _____ reduces an organization's dependence on any one of its business activities and thus reduces economic risk.

In the GE Business Screen matrix, which of the following is a determinant of industry attractiveness?

The narrowest of the standing plans, _____ describe exactly how specific activities are to be carried out.

A(n) _____ is a comprehensive plan for accomplishing an organization's goals.

A(n) _____ is an area in an organization's environment that, if exploited, may generate higher performance.

Goals set for and by line-managers are called _____ goals.

The top managers of Dietizza, a large low-fat pizza chain, plan to increase the profitability of all its outlets by 15 percent in a period of two years. This is a(n) _____ goal.

Match the following numbered items with the most correct response letter. A response may be used once, more than once, or not at all. -McDonald's owns and franchises fast-food restaurants.

Strategies to slow the entry of competitors are important if an organization is entering an industry during the _____ stage of the product life cycle.

_____ describes the number of different businesses that an organization is engaged in and the extent to which these businesses are related to one another.

Tactical goals are set by:

A(n) _____ is an internal skill or capability that does not enable a company to choose and implement strategies that support its mission.

_____ techniques are methods that diversified organizations use to determine in which businesses to engage and how to manage these businesses to maximize corporate performance.

The starting point in formulating strategies is usually:

_____ strategy is the set of strategic alternatives from which an organization chooses as it manages its operations simultaneously across several industries and several markets.

A(n) _____ is a comprehensive plan for accomplishing an organization's goals.

Understanding the Managers Job

The Environment of Organizations and Managers

Managing Decision Making

Entrepreneurship and New Venture Management

Organization Structure and Design

Organization Change and Innovation

Managing Human Resources in Organizations

Basic Elements of Individual Behavior in Organizations

Managing Employee Motivation and Performance

Leadership and Influence Processes

Communication in Organizations

Managing Work Groups and Teams

Basic Elements of Control

Managing Operations, Quality, and Productivity

Filters

Exam 3: Planning and Strategic Management

_____ is a way of approaching business opportunities and challenges.

Pursuing a strategy of _____ reduces an organization's dependence on any one of its business activities and thus reduces economic risk.

In the GE Business Screen matrix, which of the following is a determinant of industry attractiveness?

The narrowest of the standing plans, _____ describe exactly how specific activities are to be carried out.

A(n) _____ is a comprehensive plan for accomplishing an organization's goals.

A(n) _____ is an area in an organization's environment that, if exploited, may generate higher performance.

Goals set for and by line-managers are called _____ goals.

The top managers of Dietizza, a large low-fat pizza chain, plan to increase the profitability of all its outlets by 15 percent in a period of two years. This is a(n) _____ goal.

Match the following numbered items with the most correct response letter. A response may be used once, more than once, or not at all. -McDonald's owns and franchises fast-food restaurants.

Strategies to slow the entry of competitors are important if an organization is entering an industry during the _____ stage of the product life cycle.

_____ describes the number of different businesses that an organization is engaged in and the extent to which these businesses are related to one another.

Tactical goals are set by:

A(n) _____ is an internal skill or capability that does not enable a company to choose and implement strategies that support its mission.

_____ techniques are methods that diversified organizations use to determine in which businesses to engage and how to manage these businesses to maximize corporate performance.

The starting point in formulating strategies is usually:

_____ strategy is the set of strategic alternatives from which an organization chooses as it manages its operations simultaneously across several industries and several markets.

A(n) _____ is a comprehensive plan for accomplishing an organization's goals.

Understanding the Managers Job

The Environment of Organizations and Managers

Managing Decision Making

Entrepreneurship and New Venture Management

Organization Structure and Design

Organization Change and Innovation

Managing Human Resources in Organizations

Basic Elements of Individual Behavior in Organizations

Managing Employee Motivation and Performance

Leadership and Influence Processes

Communication in Organizations

Managing Work Groups and Teams

Basic Elements of Control

Managing Operations, Quality, and Productivity

Filters