Question 1

The tactic of focusing on higher-order issues involves recognizing that it is often possible to achieve similar results using different means or paths.

Accepted Answer

A) True 
 B)False

Question 2

Which strategies aim at improving internal weaknesses by taking advantage of external opportunities?

Accepted Answer

A)  SO 
B)  WO 
C)  SW 
D)  ST 
E)  WT 
A)  SO 
B)  WO 
C)  SW 
D)  ST 
E)  WT

Question 3

Which of the following is NOT one of the steps involved in constructing a SWOT Matrix?

Accepted Answer

A)  List the firm's key external threats. 
B)  Match internal strengths with external opportunities, and record the resultant SO strategies in the appropriate cell. 
C)  Match internal weaknesses with external threats, and record the resultant WT strategies. 
D)  List the firm's external weaknesses. 
E)  List the firm's external opportunities. 
A)  List the firm's key external threats. 
B)  Match internal strengths with external opportunities, and record the resultant SO strategies in the appropriate cell. 
C)  Match internal weaknesses with external threats, and record the resultant WT strategies. 
D)  List the firm's external weaknesses. 
E)  List the firm's external opportunities.

Question 4

One positive feature of QSPM is that it does not require intuitive judgments and educated assumptions.

Accepted Answer

A) True 
 B)False

Question 5

According to the Grand Strategy Matrix, which strategy is recommended for a firm with rapid market growth and a strong competitive position?

Accepted Answer

A)  Market penetration 
B)  Unrelated diversification 
C)  Joint venture 
D)  Retrenchment 
E)  Liquidation 
A)  Market penetration 
B)  Unrelated diversification 
C)  Joint venture 
D)  Retrenchment 
E)  Liquidation

Question 6

________ includes the set of shared values, beliefs, attitudes, customs, norms, personalities, heroes and heroines that describe a firm.

Accepted Answer

A)  Strategy 
B)  Culture 
C)  Mission 
D)  Objectives 
E)  QSPM 
A)  Strategy 
B)  Culture 
C)  Mission 
D)  Objectives 
E)  QSPM

Question 7

One of the steps of the SWOT Matrix is to list the firm's key external opportunities.

Accepted Answer

A) True 
 B)False

Question 8

What type of strategy would divestiture be classified as?

Accepted Answer

A)  Aggressive 
B)  Defensive 
C)  Competitive 
D)  Offensive 
E)  Conservative 
A)  Aggressive 
B)  Defensive 
C)  Competitive 
D)  Offensive 
E)  Conservative

Question 9

In the BCG Matrix, a division with a high relative market share position in a low-growth industry can be described as a

Accepted Answer

A)  Star. 
B)  Cash Cow. 
C)  Question Mark. 
D)  Dog. 
E)  Failure. 
A)  Star. 
B)  Cash Cow. 
C)  Question Mark. 
D)  Dog. 
E)  Failure.

Question 10

According to the Grand Strategy Matrix, organizations in which quadrant have a strong competitive position but are in a slow-growth industry?

Accepted Answer

A)  I 
B)  II 
C)  III 
D)  IV 
E)  V 
A)  I 
B)  II 
C)  III 
D)  IV 
E)  V

Question 11

Which stage of the strategy-formulation framework involves the Quantitative Strategic Planning Matrix?

Accepted Answer

A)  Stage 1 
B)  Stage 2 
C)  Stage 3 
D)  Stage 4 
E)  Stage 5 
A)  Stage 1 
B)  Stage 2 
C)  Stage 3 
D)  Stage 4 
E)  Stage 5

Question 12

The match an organization makes between its internal resources and skills and the opportunities and risks created by its external factors can be defined as

Accepted Answer

A)  input. 
B)  concept formulation. 
C)  strategy. 
D)  SWOT. 
E)  weakness. 
A)  input. 
B)  concept formulation. 
C)  strategy. 
D)  SWOT. 
E)  weakness.

Question 13

Which stage of the strategy-formulation framework includes an Internal-Factor Evaluation Matrix and a Competitive Profile Matrix?

Accepted Answer

A)  Input 
B)  Matching 
C)  Decision 
D)  Penetration 
E)  Research 
A)  Input 
B)  Matching 
C)  Decision 
D)  Penetration 
E)  Research

Question 14

The two internal dimensions represented on the axes of the SPACE Matrix are

Accepted Answer

A)  stability position and industry position. 
B)  industry position and internationalization. 
C)  internationalization and competitive position. 
D)  competitive position and financial position. 
E)  financial position and stability position. 
A)  stability position and industry position. 
B)  industry position and internationalization. 
C)  internationalization and competitive position. 
D)  competitive position and financial position. 
E)  financial position and stability position.

Question 15

Shifting focus from specific issues to more general ones may increase strategists' options for gaining organizational commitment.

Accepted Answer

A) True 
 B)False

Question 16

The major benefit of the BCG Matrix is that it draws attention to the cash flow, investment characteristics, and needs of an organization's various divisions.

Accepted Answer

A) True 
 B)False

Question 17

In the BCG Matrix, when a division of an organization has a high relative market share and is in a fast-growing industry, it is called a

Accepted Answer

A)  Star. 
B)  Cash Cow. 
C)  Cat. 
D)  Question Mark. 
E)  Dog. 
A)  Star. 
B)  Cash Cow. 
C)  Cat. 
D)  Question Mark. 
E)  Dog.

Question 18

Explain the concept of matching in the strategy formulation framework. Give at least three examples of matching.

Accepted Answer

Matching external and internal

Question 19

The SP and CP dimension variables in a SPACE Matrix are assigned a numerical value ranging from -1 (best) to -7 (worst).

Accepted Answer

A) True 
 B)False

Question 20

Which strategies use a firm's strengths to avoid or reduce the impact of external threats?

Accepted Answer

A)  SO 
B)  WO 
C)  SW 
D)  ST 
E)  WT 
A)  SO 
B)  WO 
C)  SW 
D)  ST 
E)  WT

The tactic of focusing on higher-order issues involves recognizing that it is often possible to achieve similar results using different means or paths.

Which strategies aim at improving internal weaknesses by taking advantage of external opportunities?

Which of the following is NOT one of the steps involved in constructing a SWOT Matrix?

One positive feature of QSPM is that it does not require intuitive judgments and educated assumptions.

According to the Grand Strategy Matrix, which strategy is recommended for a firm with rapid market growth and a strong competitive position?

________ includes the set of shared values, beliefs, attitudes, customs, norms, personalities, heroes and heroines that describe a firm.

One of the steps of the SWOT Matrix is to list the firm's key external opportunities.

What type of strategy would divestiture be classified as?

In the BCG Matrix, a division with a high relative market share position in a low-growth industry can be described as a

According to the Grand Strategy Matrix, organizations in which quadrant have a strong competitive position but are in a slow-growth industry?

Which stage of the strategy-formulation framework involves the Quantitative Strategic Planning Matrix?

The match an organization makes between its internal resources and skills and the opportunities and risks created by its external factors can be defined as

Which stage of the strategy-formulation framework includes an Internal-Factor Evaluation Matrix and a Competitive Profile Matrix?

The two internal dimensions represented on the axes of the SPACE Matrix are

Shifting focus from specific issues to more general ones may increase strategists' options for gaining organizational commitment.

The major benefit of the BCG Matrix is that it draws attention to the cash flow, investment characteristics, and needs of an organization's various divisions.

In the BCG Matrix, when a division of an organization has a high relative market share and is in a fast-growing industry, it is called a

Explain the concept of matching in the strategy formulation framework. Give at least three examples of matching.

The SP and CP dimension variables in a SPACE Matrix are assigned a numerical value ranging from -1 (best) to -7 (worst).

Which strategies use a firm's strengths to avoid or reduce the impact of external threats?

The Nature of Strategic Management

The Business Vision and Mission

The External Assessment

The Internal Assessment

Strategies in Action

Implementing Strategies: Management and Operations Issues

Implementing Strategies: Marketing, Financeaccounting, RD, and MIS Issues

Strategy Review, Evaluation, and Control

Business Ethicssocial Responsibilityenvironmental Sustainability

Globalinternational Issues

Filters

Exam 6: Strategy Analysis and Choice

The tactic of focusing on higher-order issues involves recognizing that it is often possible to achieve similar results using different means or paths.

Which strategies aim at improving internal weaknesses by taking advantage of external opportunities?

Which of the following is NOT one of the steps involved in constructing a SWOT Matrix?

One positive feature of QSPM is that it does not require intuitive judgments and educated assumptions.

According to the Grand Strategy Matrix, which strategy is recommended for a firm with rapid market growth and a strong competitive position?

________ includes the set of shared values, beliefs, attitudes, customs, norms, personalities, heroes and heroines that describe a firm.

One of the steps of the SWOT Matrix is to list the firm's key external opportunities.

What type of strategy would divestiture be classified as?

In the BCG Matrix, a division with a high relative market share position in a low-growth industry can be described as a

According to the Grand Strategy Matrix, organizations in which quadrant have a strong competitive position but are in a slow-growth industry?

Which stage of the strategy-formulation framework involves the Quantitative Strategic Planning Matrix?

The match an organization makes between its internal resources and skills and the opportunities and risks created by its external factors can be defined as

Which stage of the strategy-formulation framework includes an Internal-Factor Evaluation Matrix and a Competitive Profile Matrix?

The two internal dimensions represented on the axes of the SPACE Matrix are

Shifting focus from specific issues to more general ones may increase strategists' options for gaining organizational commitment.

The major benefit of the BCG Matrix is that it draws attention to the cash flow, investment characteristics, and needs of an organization's various divisions.

In the BCG Matrix, when a division of an organization has a high relative market share and is in a fast-growing industry, it is called a

Explain the concept of matching in the strategy formulation framework. Give at least three examples of matching.

The SP and CP dimension variables in a SPACE Matrix are assigned a numerical value ranging from -1 (best) to -7 (worst).

Which strategies use a firm's strengths to avoid or reduce the impact of external threats?

The Nature of Strategic Management

The Business Vision and Mission

The External Assessment

The Internal Assessment

Strategies in Action

Implementing Strategies: Management and Operations Issues

Implementing Strategies: Marketing, Financeaccounting, RD, and MIS Issues

Strategy Review, Evaluation, and Control

Business Ethicssocial Responsibilityenvironmental Sustainability

Globalinternational Issues

Filters