Question 1

________ is the purpose for which - and the reason why - an organization exists.

Accepted Answer

A)  Organizational objective 
B)  Organizational strategy 
C)  Organizational mission 
D)  Organizational policy 
E)  Organizational rule 
A)  Organizational objective 
B)  Organizational strategy 
C)  Organizational mission 
D)  Organizational policy 
E)  Organizational rule

Question 2

George's Quick Stop is planning to compete using a cost-leadership strategy. Doing this means George's will have what kind of products in their convenience stores?

Accepted Answer

A)  basic, no frills product offerings 
B)  highly unique product offerings 
C)  specialty shopping bags 
D)  high-end products 
E)  live music on the weekends 
A)  basic, no frills product offerings 
B)  highly unique product offerings 
C)  specialty shopping bags 
D)  high-end products 
E)  live music on the weekends

Question 3

Jewel Delight is planning to compete using a differentiation strategy. Doing this means they will have what kind of products in their jewelry stores?

Accepted Answer

A)  basic, no frills jewelry offerings 
B)  highly unique jewelry offerings 
C)  one line of jewelry 
D)  comparable jewelry their competitors offer 
E)  easily imitable jewelry offerings 
A)  basic, no frills jewelry offerings 
B)  highly unique jewelry offerings 
C)  one line of jewelry 
D)  comparable jewelry their competitors offer 
E)  easily imitable jewelry offerings

Question 4

________ is a strategy adopted by management to increase the amount of business that an SBU is currently generating.

Accepted Answer

A)  Differentiation 
B)  Divestiture 
C)  Retrenchment 
D)  Growth 
E)  Focus 
A)  Differentiation 
B)  Divestiture 
C)  Retrenchment 
D)  Growth 
E)  Focus

Question 5

What is competitive dynamics? Briefly describe the factors that influence a firm's action or reaction?

Accepted Answer

Competitive dynamics refers to the proce

Question 6

Kreme Industries has an SBU Kreme Makeups, Inc., that offers a wide variety of makeup products and accessories for women. Although market growth rate is high, the SBU's current market share is low and it needs substantial investment. The parent company is trying to decide if Kreme Makeups has long-term sustainability before investing any more cash in it. In the context of the BCG matrix, this SBU of Kreme Industries would be classified as a ________.

Accepted Answer

A)  question mark 
B)  cash cow 
C)  dog 
D)  star 
E)  low-cost leader 
A)  question mark 
B)  cash cow 
C)  dog 
D)  star 
E)  low-cost leader

Question 7

The general environment of an organization's external environment contains international, labor, customer, competitor, and supplier components.

Accepted Answer

A) True 
 B)False

Question 8

According to Porter, threat of new entrants refers to ________.

Accepted Answer

A)  the power that customers have over the firms 
B)  the power that suppliers have over the firms 
C)  the extent to which customers may use services from another industry instead of the focal industry 
D)  the ability of new firms to enter an industry 
E)  the intensity of the rules of an organization 
A)  the power that customers have over the firms 
B)  the power that suppliers have over the firms 
C)  the extent to which customers may use services from another industry instead of the focal industry 
D)  the ability of new firms to enter an industry 
E)  the intensity of the rules of an organization

Question 9

Long-range planning that focuses on the organization as a whole is ________.

Accepted Answer

A)  operational planning 
B)  organizational planning 
C)  strategic planning 
D)  tactical planning 
E)  managerial planning 
A)  operational planning 
B)  organizational planning 
C)  strategic planning 
D)  tactical planning 
E)  managerial planning

Question 10

Axis Cars is an automobile company based out of Delaware. They need to follow an organizational strategy to regain the market share they recently lost to Toyota. Which of the following strategies will accomplish this objective?

Accepted Answer

A)  They should increase people efficiency. 
B)  They should resize and downsize present models. 
C)  They should increase machine efficiency. 
D)  They should modernize the car batteries. 
E)  They should merge with another top-selling automobile brand. 
A)  They should increase people efficiency. 
B)  They should resize and downsize present models. 
C)  They should increase machine efficiency. 
D)  They should modernize the car batteries. 
E)  They should merge with another top-selling automobile brand.

Question 11

________ is a strategy adopted by management to maintain or slightly improve the amount of business that an SBU is generating.

Accepted Answer

A)  Focus 
B)  Stability 
C)  Retrenchment 
D)  Growth 
E)  Divestiture 
A)  Focus 
B)  Stability 
C)  Retrenchment 
D)  Growth 
E)  Divestiture

Question 12

An SBU of FlexiTech Inc. manufactures CD drives. Although it has a large share in the market and the product makes significant profits for the company, market growth potential is limited. Under which quadrant of the BCG Growth-Share Matrix does the CD manufacturing unit fall?

Accepted Answer

A)  dog 
B)  question-mark 
C)  star 
D)  cash cow 
E)  low-cost leader 
A)  dog 
B)  question-mark 
C)  star 
D)  cash cow 
E)  low-cost leader

Question 13

"In what kind of environment does the organization now exist?" is one of the four basic questions required for critical question analysis.

Accepted Answer

A) True 
 B)False

Question 14

Which business strategy is generally applied to cash cows?

Accepted Answer

A)  divestiture 
B)  stability 
C)  growth 
D)  retrenchment 
E)  focus 
A)  divestiture 
B)  stability 
C)  growth 
D)  retrenchment 
E)  focus

Question 15

Discuss the value of management conducting an Environmental Analysis.

Accepted Answer

Understanding the forces that determine

Question 16

________ is the strategy through which management attempts to strengthen or protect the amount of business an SBU is generating.

Accepted Answer

A)  Differentiation 
B)  Divestiture 
C)  Retrenchment 
D)  Growth 
E)  Focus 
A)  Differentiation 
B)  Divestiture 
C)  Retrenchment 
D)  Growth 
E)  Focus

Question 17

The document that is written by management and describes and explains what the purpose for which the organization exists is the ________.

Accepted Answer

A)  mission statement 
B)  strategic plan 
C)  operating plan 
D)  annual budget 
E)  vision statement 
A)  mission statement 
B)  strategic plan 
C)  operating plan 
D)  annual budget 
E)  vision statement

Question 18

When an organization focuses on making itself more competitive by producing products more cheaply than competitors can, it is following a ________.

Accepted Answer

A)  stability strategy 
B)  differentiation strategy 
C)  focus strategy 
D)  cost leadership strategy 
E)  divestiture strategy 
A)  stability strategy 
B)  differentiation strategy 
C)  focus strategy 
D)  cost leadership strategy 
E)  divestiture strategy

Question 19

What is the BCG Growth-Share Matrix? Explain what stars, question marks, cash cows, and dogs are. According to the BCG Growth-Share Matrix, what should managers do with each of these?

Accepted Answer

The Boston Consulting Group (BCG), a lea

Question 20

Strategy is the end result of strategic planning.

Accepted Answer

A) True 
 B)False

________ is the purpose for which - and the reason why - an organization exists.

George's Quick Stop is planning to compete using a cost-leadership strategy. Doing this means George's will have what kind of products in their convenience stores?

Jewel Delight is planning to compete using a differentiation strategy. Doing this means they will have what kind of products in their jewelry stores?

________ is a strategy adopted by management to increase the amount of business that an SBU is currently generating.

What is competitive dynamics? Briefly describe the factors that influence a firm's action or reaction?

The general environment of an organization's external environment contains international, labor, customer, competitor, and supplier components.

According to Porter, threat of new entrants refers to ________.

Long-range planning that focuses on the organization as a whole is ________.

Axis Cars is an automobile company based out of Delaware. They need to follow an organizational strategy to regain the market share they recently lost to Toyota. Which of the following strategies will accomplish this objective?

________ is a strategy adopted by management to maintain or slightly improve the amount of business that an SBU is generating.

An SBU of FlexiTech Inc. manufactures CD drives. Although it has a large share in the market and the product makes significant profits for the company, market growth potential is limited. Under which quadrant of the BCG Growth-Share Matrix does the CD manufacturing unit fall?

"In what kind of environment does the organization now exist?" is one of the four basic questions required for critical question analysis.

Which business strategy is generally applied to cash cows?

Discuss the value of management conducting an Environmental Analysis.

________ is the strategy through which management attempts to strengthen or protect the amount of business an SBU is generating.

The document that is written by management and describes and explains what the purpose for which the organization exists is the ________.

When an organization focuses on making itself more competitive by producing products more cheaply than competitors can, it is following a ________.

What is the BCG Growth-Share Matrix? Explain what stars, question marks, cash cows, and dogs are. According to the BCG Growth-Share Matrix, what should managers do with each of these?

Strategy is the end result of strategic planning.

Principles of Modern Management: Concepts and Skills

Managers, Society, and Sustainability

Management and Diversity

Managing in the Global Arena

Plans and Planning Tools

Making Decisions

Fundamentals of Organizing

Responsibility, Authority, and Delegation

Human Resource Management

Organizational Change: Stress, Conflict and Virtuality

Influencing and Communication

Leadership

Motivation

Groups and Teams

Managing Organization Culture

Controlling, Information, and Technology

Production and Control

Appendix 1: Managing History and Current Thinking

Management and Entrepreneurship: Handling Start-Ups and New Ventures

Encouraging Creativity and Innovation

Filters

Exam 7: Strategic Planning: Strategies, Tactics, and Competitive Dynamics

________ is the purpose for which - and the reason why - an organization exists.

George's Quick Stop is planning to compete using a cost-leadership strategy. Doing this means George's will have what kind of products in their convenience stores?

Jewel Delight is planning to compete using a differentiation strategy. Doing this means they will have what kind of products in their jewelry stores?

________ is a strategy adopted by management to increase the amount of business that an SBU is currently generating.

What is competitive dynamics? Briefly describe the factors that influence a firm's action or reaction?

The general environment of an organization's external environment contains international, labor, customer, competitor, and supplier components.

According to Porter, threat of new entrants refers to ________.

Long-range planning that focuses on the organization as a whole is ________.

Axis Cars is an automobile company based out of Delaware. They need to follow an organizational strategy to regain the market share they recently lost to Toyota. Which of the following strategies will accomplish this objective?

________ is a strategy adopted by management to maintain or slightly improve the amount of business that an SBU is generating.

An SBU of FlexiTech Inc. manufactures CD drives. Although it has a large share in the market and the product makes significant profits for the company, market growth potential is limited. Under which quadrant of the BCG Growth-Share Matrix does the CD manufacturing unit fall?

"In what kind of environment does the organization now exist?" is one of the four basic questions required for critical question analysis.

Which business strategy is generally applied to cash cows?

Discuss the value of management conducting an Environmental Analysis.

________ is the strategy through which management attempts to strengthen or protect the amount of business an SBU is generating.

The document that is written by management and describes and explains what the purpose for which the organization exists is the ________.

When an organization focuses on making itself more competitive by producing products more cheaply than competitors can, it is following a ________.

What is the BCG Growth-Share Matrix? Explain what stars, question marks, cash cows, and dogs are. According to the BCG Growth-Share Matrix, what should managers do with each of these?

Strategy is the end result of strategic planning.

Principles of Modern Management: Concepts and Skills

Managers, Society, and Sustainability

Management and Diversity

Managing in the Global Arena

Plans and Planning Tools

Making Decisions

Fundamentals of Organizing

Responsibility, Authority, and Delegation

Human Resource Management

Organizational Change: Stress, Conflict and Virtuality

Influencing and Communication

Leadership

Motivation

Groups and Teams

Managing Organization Culture

Controlling, Information, and Technology

Production and Control

Appendix 1: Managing History and Current Thinking

Management and Entrepreneurship: Handling Start-Ups and New Ventures

Encouraging Creativity and Innovation

Filters