Question 1

The purpose of a __________ strategy is to reverse negative sales and profitability trends.

Accepted Answer

A)  growth 
B)  stability 
C)  reserve 
D)  frugality 
E)  retrenchment 
A)  growth 
B)  stability 
C)  reserve 
D)  frugality 
E)  retrenchment

Question 2

Match each term with the correct statement below.
-a statement of the reason for which the organization exists

Accepted Answer

A)  internal analysis 
B)  external analysis 
C)  general environment 
D)  task environment 
E)  organizational mission
F) strategic goals
G) grand strategy
H) generic strategies
I) cost leadership
J) differentiation
K) focus 
A)  internal analysis 
B)  external analysis 
C)  general environment 
D)  task environment 
E)  organizational mission
F) strategic goals
G) grand strategy
H) generic strategies
I) cost leadership
J) differentiation
K) focus

Question 3

External threats are conditions that jeopardize the organization's ability to prosper in the long term.

Accepted Answer

A) True 
 B)False

Question 4

Experts think that it is doubtful that mission statements are important to most organizations.

Accepted Answer

A) True 
 B)False

Question 5

Match each term with the correct statement below.
-a strategy for competing by targeting a specific and narrow segment of the market

Accepted Answer

A)  internal analysis 
B)  external analysis 
C)  general environment 
D)  task environment 
E)  organizational mission
F) strategic goals
G) grand strategy
H) generic strategies
I) cost leadership
J) differentiation
K) focus 
A)  internal analysis 
B)  external analysis 
C)  general environment 
D)  task environment 
E)  organizational mission
F) strategic goals
G) grand strategy
H) generic strategies
I) cost leadership
J) differentiation
K) focus

Question 6

Match each term with the correct statement below.
-those environmental forces that are within the firm's operating environment and over which the firm has some degree of control

Accepted Answer

A)  internal analysis 
B)  external analysis 
C)  general environment 
D)  task environment 
E)  organizational mission
F) strategic goals
G) grand strategy
H) generic strategies
I) cost leadership
J) differentiation
K) focus 
A)  internal analysis 
B)  external analysis 
C)  general environment 
D)  task environment 
E)  organizational mission
F) strategic goals
G) grand strategy
H) generic strategies
I) cost leadership
J) differentiation
K) focus

Question 7

What is the purpose of strategic planning? What would a firm lose if it did not complete a strategic plan?

Accepted Answer

The purpose of strategic planning is to

Question 8

The CEO of Kimberly-Clark, strongly believes in the importance of establishing strict criteria to help his company monitor its progress toward implementing its plans and achieving its goals. These types of criteria are established during the __________ stage of the strategic planning process.

Accepted Answer

A)  strategy formulation 
B)  strategic evaluation and control 
C)  strategic analysis 
D)  strategic feedback 
E)  strategy implementation 
A)  strategy formulation 
B)  strategic evaluation and control 
C)  strategic analysis 
D)  strategic feedback 
E)  strategy implementation

Question 9

Don Jacobs has decided that his computer repair company, which is growing faster than he though, should have a statement that describes the overall purpose of his company and the attributes that distinguish it from other firms. This statement is called a/an

Accepted Answer

A)  philosophy of doing business. 
B)  organizational mission statement. 
C)  statement of strategic intent. 
D)  strategic goal statement. 
E)  operating plan. 
A)  philosophy of doing business. 
B)  organizational mission statement. 
C)  statement of strategic intent. 
D)  strategic goal statement. 
E)  operating plan.

Question 10

Grand strategies can be divided into three broad categories:

Accepted Answer

A)  stability, growth, and retrenchment. 
B)  stability, growth, and differentiation. 
C)  stability, differentiation, and retrenchment. 
D)  growth, retrenchment, and differentiation. 
E)  static, growth, and retrenchment. 
A)  stability, growth, and retrenchment. 
B)  stability, growth, and differentiation. 
C)  stability, differentiation, and retrenchment. 
D)  growth, retrenchment, and differentiation. 
E)  static, growth, and retrenchment.

Question 11

__________ provide a mechanism for evaluating an organization's portfolio of businesses, products, and services.

Accepted Answer

A)  Portfolio assessment models 
B)  Competitive evaluation models 
C)  Distinctive competency models 
D)  Financial and competitive integrity 
E)  Firm assessment models 
A)  Portfolio assessment models 
B)  Competitive evaluation models 
C)  Distinctive competency models 
D)  Financial and competitive integrity 
E)  Firm assessment models

Question 12

Advances in technology, such as the ability to research products or services on the Internet, have helped the consumer have bargaining power.

Accepted Answer

A) True 
 B)False

Question 13

Recently, Litton Industries was evaluated by a Boston consulting firm, and the firm found that Litton does not have a process in place to make plans and decisions to ensure its long-run performance. As a result of this finding, the consulting firm recommended to Litton that it develop a

Accepted Answer

A)  functional plan. 
B)  strategic plan. 
C)  contingency plan. 
D)  tactical plan. 
E)  operational plan. 
A)  functional plan. 
B)  strategic plan. 
C)  contingency plan. 
D)  tactical plan. 
E)  operational plan.

Question 14

Which grand strategy typically requires the elimination of one or more business units either through divestment or through liquidation?

Accepted Answer

A)  reserve 
B)  growth 
C)  retrenchment 
D)  frugality 
E)  stability 
A)  reserve 
B)  growth 
C)  retrenchment 
D)  frugality 
E)  stability

Question 15

Match each term with the correct statement below.
-a comprehensive, general approach for achieving the strategic goals of an organization

Accepted Answer

A)  internal analysis 
B)  external analysis 
C)  general environment 
D)  task environment 
E)  organizational mission
F) strategic goals
G) grand strategy
H) generic strategies
I) cost leadership
J) differentiation
K) focus 
A)  internal analysis 
B)  external analysis 
C)  general environment 
D)  task environment 
E)  organizational mission
F) strategic goals
G) grand strategy
H) generic strategies
I) cost leadership
J) differentiation
K) focus

Question 16

A focus strategy occurs when an organization targets a specific, narrow segment of the market and directly engages the industry leader and others in that market.

Accepted Answer

A) True 
 B)False

Question 17

According to their 2005 Annual Report, Walgreens opened a net number of 371 new stores in 2005 and will open 475 total new stores in 2006. Walgreens grand strategy is apparently

Accepted Answer

A)  growth. 
B)  stability. 
C)  focus. 
D)  cost leadership. 
E)  retrenchment. 
A)  growth. 
B)  stability. 
C)  focus. 
D)  cost leadership. 
E)  retrenchment.

Question 18

In order to follow a cost-leadership strategy, a company must be very __________.

Accepted Answer

A)  efficient 
B)  effective 
C)  focused 
D)  stabile 
E)  growth oriented 
A)  efficient 
B)  effective 
C)  focused 
D)  stabile 
E)  growth oriented

Question 19

The strategy formulation phase of the strategic planning process addresses the question, "What is the current position of the organization?"

Accepted Answer

A) True 
 B)False

Question 20

The purpose of a/an __________ analysis is to identify assets, resources, skills, and processes that represent either strengths or weaknesses of an organization.

Accepted Answer

A)  internal analysis 
B)  functional analysis 
C)  tactical analysis 
D)  external analysis 
E)  operational analysis 
A)  internal analysis 
B)  functional analysis 
C)  tactical analysis 
D)  external analysis 
E)  operational analysis

The purpose of a __________ strategy is to reverse negative sales and profitability trends.

Match each term with the correct statement below. -a statement of the reason for which the organization exists

External threats are conditions that jeopardize the organization's ability to prosper in the long term.

Experts think that it is doubtful that mission statements are important to most organizations.

Match each term with the correct statement below. -a strategy for competing by targeting a specific and narrow segment of the market

Match each term with the correct statement below. -those environmental forces that are within the firm's operating environment and over which the firm has some degree of control

What is the purpose of strategic planning? What would a firm lose if it did not complete a strategic plan?

The CEO of Kimberly-Clark, strongly believes in the importance of establishing strict criteria to help his company monitor its progress toward implementing its plans and achieving its goals. These types of criteria are established during the __________ stage of the strategic planning process.

Don Jacobs has decided that his computer repair company, which is growing faster than he though, should have a statement that describes the overall purpose of his company and the attributes that distinguish it from other firms. This statement is called a/an

Grand strategies can be divided into three broad categories:

__________ provide a mechanism for evaluating an organization's portfolio of businesses, products, and services.

Advances in technology, such as the ability to research products or services on the Internet, have helped the consumer have bargaining power.

Recently, Litton Industries was evaluated by a Boston consulting firm, and the firm found that Litton does not have a process in place to make plans and decisions to ensure its long-run performance. As a result of this finding, the consulting firm recommended to Litton that it develop a

Which grand strategy typically requires the elimination of one or more business units either through divestment or through liquidation?

Match each term with the correct statement below. -a comprehensive, general approach for achieving the strategic goals of an organization

A focus strategy occurs when an organization targets a specific, narrow segment of the market and directly engages the industry leader and others in that market.

According to their 2005 Annual Report, Walgreens opened a net number of 371 new stores in 2005 and will open 475 total new stores in 2006. Walgreens grand strategy is apparently

In order to follow a cost-leadership strategy, a company must be very __________.

The strategy formulation phase of the strategic planning process addresses the question, "What is the current position of the organization?"

The purpose of a/an __________ analysis is to identify assets, resources, skills, and processes that represent either strengths or weaknesses of an organization.

Management and Managers

Evolution of Management Thought

Social Responsibility and Ethics

Planning in the Contemporary Organization

Managerial Decision Making

Organizing for Effectiveness and Efficiency

Organizational Design

Strategic Human Resource Management

Organizational Culture and Change

Communicating Effectively Within Diverse Organizations

Leading in a Dynamic Environment

Exploring Individual Differences and Team Dynamics

Motivating Organizational Members

Organizational Control in a Complex Business Environment

Productivity and Quality in Operations

Information Technology and Control

Filters

Exam 4: Strategic Management and Planning in a Global Environment

The purpose of a __________ strategy is to reverse negative sales and profitability trends.

Match each term with the correct statement below. -a statement of the reason for which the organization exists

External threats are conditions that jeopardize the organization's ability to prosper in the long term.

Experts think that it is doubtful that mission statements are important to most organizations.

Match each term with the correct statement below. -a strategy for competing by targeting a specific and narrow segment of the market

Match each term with the correct statement below. -those environmental forces that are within the firm's operating environment and over which the firm has some degree of control

What is the purpose of strategic planning? What would a firm lose if it did not complete a strategic plan?

The CEO of Kimberly-Clark, strongly believes in the importance of establishing strict criteria to help his company monitor its progress toward implementing its plans and achieving its goals. These types of criteria are established during the __________ stage of the strategic planning process.

Don Jacobs has decided that his computer repair company, which is growing faster than he though, should have a statement that describes the overall purpose of his company and the attributes that distinguish it from other firms. This statement is called a/an

Grand strategies can be divided into three broad categories:

__________ provide a mechanism for evaluating an organization's portfolio of businesses, products, and services.

Advances in technology, such as the ability to research products or services on the Internet, have helped the consumer have bargaining power.

Recently, Litton Industries was evaluated by a Boston consulting firm, and the firm found that Litton does not have a process in place to make plans and decisions to ensure its long-run performance. As a result of this finding, the consulting firm recommended to Litton that it develop a

Which grand strategy typically requires the elimination of one or more business units either through divestment or through liquidation?

Match each term with the correct statement below. -a comprehensive, general approach for achieving the strategic goals of an organization

A focus strategy occurs when an organization targets a specific, narrow segment of the market and directly engages the industry leader and others in that market.

According to their 2005 Annual Report, Walgreens opened a net number of 371 new stores in 2005 and will open 475 total new stores in 2006. Walgreens grand strategy is apparently

In order to follow a cost-leadership strategy, a company must be very __________.

The strategy formulation phase of the strategic planning process addresses the question, "What is the current position of the organization?"

The purpose of a/an __________ analysis is to identify assets, resources, skills, and processes that represent either strengths or weaknesses of an organization.

Management and Managers

Evolution of Management Thought

Social Responsibility and Ethics

Planning in the Contemporary Organization

Managerial Decision Making

Organizing for Effectiveness and Efficiency

Organizational Design

Strategic Human Resource Management

Organizational Culture and Change

Communicating Effectively Within Diverse Organizations

Leading in a Dynamic Environment

Exploring Individual Differences and Team Dynamics

Motivating Organizational Members

Organizational Control in a Complex Business Environment

Productivity and Quality in Operations

Information Technology and Control

Filters