Question 1

The star has a __________ market share in a __________ industry.

Accepted Answer

A)  large; rapidly growing 
B)  large; slow-growth 
C)  small; rapidly growing 
D)  small; slow-growth 
E)  moderate; slow-growth 
A)  large; rapidly growing 
B)  large; slow-growth 
C)  small; rapidly growing 
D)  small; slow-growth 
E)  moderate; slow-growth

Question 2

Briefly discuss Porter's three competitive strategies.

Accepted Answer

Porter identified three competitive stra

Question 3

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

Accepted Answer

A)  a core competence. 
B)  synergy. 
C)  value. 
D)  a business-level strategy. 
E)  competitive advantage. 
A)  a core competence. 
B)  synergy. 
C)  value. 
D)  a business-level strategy. 
E)  competitive advantage.

Question 4

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 5

A(n) __________ is something that an organization does especially well in comparison to its competitors.

Accepted Answer

The answer of A(n) __________ is something that an organization...

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

Strategic thinking is more important in for-profit businesses than for nonprofit organizations.

Accepted Answer

A) True 
 B)False

Question 8

An SBU stands for "star business unit."

Accepted Answer

A) True 
 B)False

Question 9

__________ refers to what sets the organization apart from others and provides it with a distinctive edge for meeting customer or client needs in the marketplace.

Accepted Answer

Competitiv

Question 10

Organizations with a focus strategy concentrate on a specific regional market or buyer group.

Accepted Answer

A) True 
 B)False

Question 11

A(n) __________ is a division of the organization that has a unique business, mission, product or service line, competitors, and markets relative to other units of the same organization.

Accepted Answer

strategic

Question 12

The strategic management process begins when executives scan the organization's internal and external environments and identify strategic issues that might require change.

Accepted Answer

A) True 
 B)False

Question 13

A __________ strategy has a __________ strategic target, and __________ is/are its source of advantage.

Accepted Answer

A)  focused differentiation; narrow; low costs 
B)  cost leadership; narrow; distinctiveness 
C)  focused cost leadership; narrow; low costs 
D)  differentiation; broad; low costs 
E)  focused differentiation; broad; distinctiveness 
A)  focused differentiation; narrow; low costs 
B)  cost leadership; narrow; distinctiveness 
C)  focused cost leadership; narrow; low costs 
D)  differentiation; broad; low costs 
E)  focused differentiation; broad; distinctiveness

Question 14

__________ means that the company expands into businesses that either produce the supplies needed to make products and services or that distribute and sell those products and services to customers.

Accepted Answer

Vertical i

Question 15

In strategy execution, leadership is the ability to influence people to adopt the new behaviors needed for putting the strategy into action.

Accepted Answer

A) True 
 B)False

Question 16

Managerial dilemmas are unique to organizations that operate globally, and therefore, strategic management must also be unique. Write a short essay that compares and contrasts globalization, multidomestic, and glocalization strategies. Discuss the factors that you feel would determine which strategy should be used.

Accepted Answer

With a globalization strategy, product d

Question 17

The strategy of moving into new lines of business is called __________.

Accepted Answer

The answer of The strategy of moving into new lines...

Question 18

If ABC International has standardized its product design and advertising throughout the world, it is pursuing a(n) __________ strategy.

Accepted Answer

A)  multidomestic 
B)  retrenchment 
C)  glocalization 
D)  globalization 
E)  export 
A)  multidomestic 
B)  retrenchment 
C)  glocalization 
D)  globalization 
E)  export

Question 19

Strategic management is one type of planning, and it largely determines which organizations thrive and which ones struggle. It is the decisions and actions used to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals. Choose some type of business or specific, real-world organization, and start to develop a strategy for its long-term growth. Write a short essay that summarizes the components of strategic management that the organization needs to use, and provide examples of strategic plans and/or goals at the three organizational levels that would allow the organization to reach its objectives.

Accepted Answer

Students’ choice of type of business or

Question 20

A glocalization strategy seeks to achieve both global standardization and national responsiveness.

Accepted Answer

A) True 
 B)False

The star has a market share in a industry.

Briefly discuss Porter's three competitive strategies.

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

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

A(n) __________ is something that an organization does especially well in comparison to its competitors.

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

Strategic thinking is more important in for-profit businesses than for nonprofit organizations.

An SBU stands for "star business unit."

__________ refers to what sets the organization apart from others and provides it with a distinctive edge for meeting customer or client needs in the marketplace.

Organizations with a focus strategy concentrate on a specific regional market or buyer group.

A(n) __________ is a division of the organization that has a unique business, mission, product or service line, competitors, and markets relative to other units of the same organization.

The strategic management process begins when executives scan the organization's internal and external environments and identify strategic issues that might require change.

A strategy has a strategic target, and __ is/are its source of advantage.

__________ means that the company expands into businesses that either produce the supplies needed to make products and services or that distribute and sell those products and services to customers.

In strategy execution, leadership is the ability to influence people to adopt the new behaviors needed for putting the strategy into action.

The strategy of moving into new lines of business is called __________.

If ABC International has standardized its product design and advertising throughout the world, it is pursuing a(n) __________ strategy.

A glocalization strategy seeks to achieve both global standardization and national responsiveness.

The World of Innovative Management

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managing Start-Ups and New Ventures

Planning and Global Setting

Managerial Decision Making

Designing Organization Structure

Managing Change and Innovation

Managing Human Resources

Managing Diversity

Understanding Invidividual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Filters

Exam 8: Strategy Formulation and Execution

The star has a __________ market share in a __________ industry.

Briefly discuss Porter's three competitive strategies.

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

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

A(n) __________ is something that an organization does especially well in comparison to its competitors.

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

Strategic thinking is more important in for-profit businesses than for nonprofit organizations.

An SBU stands for "star business unit."

__________ refers to what sets the organization apart from others and provides it with a distinctive edge for meeting customer or client needs in the marketplace.

Organizations with a focus strategy concentrate on a specific regional market or buyer group.

A(n) __________ is a division of the organization that has a unique business, mission, product or service line, competitors, and markets relative to other units of the same organization.

The strategic management process begins when executives scan the organization's internal and external environments and identify strategic issues that might require change.

A __________ strategy has a __________ strategic target, and __________ is/are its source of advantage.

__________ means that the company expands into businesses that either produce the supplies needed to make products and services or that distribute and sell those products and services to customers.

In strategy execution, leadership is the ability to influence people to adopt the new behaviors needed for putting the strategy into action.

The strategy of moving into new lines of business is called __________.

If ABC International has standardized its product design and advertising throughout the world, it is pursuing a(n) __________ strategy.

A glocalization strategy seeks to achieve both global standardization and national responsiveness.

The World of Innovative Management

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managing Start-Ups and New Ventures

Planning and Global Setting

Managerial Decision Making

Designing Organization Structure

Managing Change and Innovation

Managing Human Resources

Managing Diversity

Understanding Invidividual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Filters

The star has a market share in a industry.

A strategy has a strategic target, and __ is/are its source of advantage.