Question 1

According to a 2012 survey by Deloitte Consulting, the most popular outsourced activity was

Accepted Answer

A)  marketing. 
B)  sales. 
C)  finance. 
D)  R&D. 
E)  information technology. 
A)  marketing. 
B)  sales. 
C)  finance. 
D)  R&D. 
E)  information technology.

Question 2

Many companies have found that outsourcing logistics

Accepted Answer

A)  helps centralize logistics. 
B)  reduces costs and improves delivery time. 
C)  is an effective business-level strategy. 
D)  helps the companies differentiate themselves. 
E)  all of the above 
A)  helps centralize logistics. 
B)  reduces costs and improves delivery time. 
C)  is an effective business-level strategy. 
D)  helps the companies differentiate themselves. 
E)  all of the above

Question 3

In a dynamic environment, using consensus to arrive at a strategic decision is not recommended. Why? What two techniques can strategic managers use to avoid the consensus trap?

Accepted Answer

The best decisions actually involve a ce

Question 4

Leveraged buyouts are also sometimes referred to as

Accepted Answer

A)  leveraged bargains. 
B)  management buyouts. 
C)  management bargains. 
D)  coordinated buyouts. 
E)  debt buyouts. 
A)  leveraged bargains. 
B)  management buyouts. 
C)  management bargains. 
D)  coordinated buyouts. 
E)  debt buyouts.

Question 5

Equity financing is preferred for unrelated diversification while debt financing is preferred for related diversification.

Accepted Answer

A) True 
 B)False

Question 6

"The customer is always right" is an example of a policy in Nordstrom's.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following reflects the impact of industry backgrounds on strategic choices?

Accepted Answer

A)  Executives from other industries tend to make riskier decisions. 
B)  Executives with strong ties within an industry tend to choose strategies commonly used in that industry. 
C)  Executives from other industries tend to downsize as a first choice. 
D)  Executives with strong ties within an industry tend to make riskier decisions. 
E)  Executives from other industries tend to emphasize ROI. 
A)  Executives from other industries tend to make riskier decisions. 
B)  Executives with strong ties within an industry tend to choose strategies commonly used in that industry. 
C)  Executives from other industries tend to downsize as a first choice. 
D)  Executives with strong ties within an industry tend to make riskier decisions. 
E)  Executives from other industries tend to emphasize ROI.

Question 8

The key to outsourcing is to purchase from the outside only those activities that

Accepted Answer

A)  are not key to the company's distinctive competence. 
B)  are very expensive. 
C)  provide the company competitive advantage. 
D)  are provided by an important supplier. 
E)  are not very expensive. 
A)  are not key to the company's distinctive competence. 
B)  are very expensive. 
C)  provide the company competitive advantage. 
D)  are provided by an important supplier. 
E)  are not very expensive.

Question 9

A product development strategy deals with pricing, selling, and distributing a product.

Accepted Answer

A) True 
 B)False

Question 10

Three trends are evident in logistics: outsourcing, the use of the Internet, and

Accepted Answer

A)  centralization. 
B)  downsizing. 
C)  logistical partnerships. 
D)  computerization. 
E)  containerized shipping. 
A)  centralization. 
B)  downsizing. 
C)  logistical partnerships. 
D)  computerization. 
E)  containerized shipping.

Question 11

When Colgate-Palmolive and Unilever take a successful product that they marketed in one part of the world and market it elsewhere, they are following a market development strategy.

Accepted Answer

A) True 
 B)False

Question 12

Avon is an example of a company that demonstrated having a diverse workforce

Accepted Answer

A)  can be a competitive advantage. 
B)  can lower productivity. 
C)  can be an effective IT strategy. 
D)  can hinder quality. 
E)  hinders growth. 
A)  can be a competitive advantage. 
B)  can lower productivity. 
C)  can be an effective IT strategy. 
D)  can hinder quality. 
E)  hinders growth.

Question 13

A financial strategy examines the financial implications of corporate and business-level strategic options and identifies the best financial course of action.

Accepted Answer

A) True 
 B)False

Question 14

To avoid the consensus trap, which technique involving presenting two conflicting views (the thesis and the antithesis) presented in a debate format can be traced back to Plato and Aristotle?

Accepted Answer

A)  devil's advocate 
B)  Sloan's judgment 
C)  sales presentation 
D)  dialectical inquiry 
E)  scenario construction 
A)  devil's advocate 
B)  Sloan's judgment 
C)  sales presentation 
D)  dialectical inquiry 
E)  scenario construction

Question 15

Which strategy is developed to pull together the various activities and competencies of each department so that corporate and business unit performance improves and resource productivity is maximized?

Accepted Answer

A)  business strategy 
B)  competitive strategy 
C)  generic strategy 
D)  enterprise strategy 
E)  functional strategy 
A)  business strategy 
B)  competitive strategy 
C)  generic strategy 
D)  enterprise strategy 
E)  functional strategy

Question 16

A flexible manufacturing system is

Accepted Answer

A)  one-of-a-kind production using skilled labor. 
B)  highly automated assembly lines making one mass-produced product using little human labor. 
C)  a grouping of parts into manufacturing families to produce a wide variety of mass-produced items. 
D)  a process utilizing the just-in-time (JIT) method of manufacturing. 
E)  standardization of components with each machine functioning like a job shop, but is positioned in the same order as the parts are processed. 
A)  one-of-a-kind production using skilled labor. 
B)  highly automated assembly lines making one mass-produced product using little human labor. 
C)  a grouping of parts into manufacturing families to produce a wide variety of mass-produced items. 
D)  a process utilizing the just-in-time (JIT) method of manufacturing. 
E)  standardization of components with each machine functioning like a job shop, but is positioned in the same order as the parts are processed.

Question 17

The evaluation of alternative strategies and selection of the best alternative is referred to as

Accepted Answer

A)  alternative generation. 
B)  strategic implementation. 
C)  strategic choice. 
D)  strategic selection. 
E)  evaluation. 
A)  alternative generation. 
B)  strategic implementation. 
C)  strategic choice. 
D)  strategic selection. 
E)  evaluation.

Question 18

Some executives show a self-serving tendency to attribute the firm's problems not to their own poor decisions, but to environmental events out of their control such as government policies or a poor economic climate.

Accepted Answer

A) True 
 B)False

Question 19

The orientation of the functional strategy is dictated by its parent business unit's strategy.

Accepted Answer

A) True 
 B)False

Question 20

If a company wishes to be a technological follower and also pursue a differentiation strategy, the appropriate R&D strategy would be to

Accepted Answer

A)  adapt the product or delivery system more closely to buyer needs by learning from the leader's experience. 
B)  value activities by learning from the leader's experience. 
C)  avoid R&D costs through imitation. 
D)  create low-cost ways of performing value activities. 
E)  innovate in other activities to increase buyer value. 
A)  adapt the product or delivery system more closely to buyer needs by learning from the leader's experience. 
B)  value activities by learning from the leader's experience. 
C)  avoid R&D costs through imitation. 
D)  create low-cost ways of performing value activities. 
E)  innovate in other activities to increase buyer value.

According to a 2012 survey by Deloitte Consulting, the most popular outsourced activity was

Many companies have found that outsourcing logistics

In a dynamic environment, using consensus to arrive at a strategic decision is not recommended. Why? What two techniques can strategic managers use to avoid the consensus trap?

Leveraged buyouts are also sometimes referred to as

Equity financing is preferred for unrelated diversification while debt financing is preferred for related diversification.

"The customer is always right" is an example of a policy in Nordstrom's.

Which of the following reflects the impact of industry backgrounds on strategic choices?

The key to outsourcing is to purchase from the outside only those activities that

A product development strategy deals with pricing, selling, and distributing a product.

Three trends are evident in logistics: outsourcing, the use of the Internet, and

When Colgate-Palmolive and Unilever take a successful product that they marketed in one part of the world and market it elsewhere, they are following a market development strategy.

Avon is an example of a company that demonstrated having a diverse workforce

A financial strategy examines the financial implications of corporate and business-level strategic options and identifies the best financial course of action.

To avoid the consensus trap, which technique involving presenting two conflicting views (the thesis and the antithesis) presented in a debate format can be traced back to Plato and Aristotle?

Which strategy is developed to pull together the various activities and competencies of each department so that corporate and business unit performance improves and resource productivity is maximized?

A flexible manufacturing system is

The evaluation of alternative strategies and selection of the best alternative is referred to as

Some executives show a self-serving tendency to attribute the firm's problems not to their own poor decisions, but to environmental events out of their control such as government policies or a poor economic climate.

The orientation of the functional strategy is dictated by its parent business unit's strategy.

If a company wishes to be a technological follower and also pursue a differentiation strategy, the appropriate R&D strategy would be to

Basic Concepts in Strategic Management

Corporate Governance

Ethics and Social Responsibility in Strategic Management

Environmental Scanning and Industry Analysis

Internal Scanning and Organizational Analysis

Strategy Formulation: Situation Analysis and Business Strategy

Strategy Formulation: Corporate Strategy

Strategy Implementation: Organizing for Action

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters

Exam 8: Strategy Formulation: Functional Strategy and Strategic Choice

According to a 2012 survey by Deloitte Consulting, the most popular outsourced activity was

Many companies have found that outsourcing logistics

In a dynamic environment, using consensus to arrive at a strategic decision is not recommended. Why? What two techniques can strategic managers use to avoid the consensus trap?

Leveraged buyouts are also sometimes referred to as

Equity financing is preferred for unrelated diversification while debt financing is preferred for related diversification.

"The customer is always right" is an example of a policy in Nordstrom's.

Which of the following reflects the impact of industry backgrounds on strategic choices?

The key to outsourcing is to purchase from the outside only those activities that

A product development strategy deals with pricing, selling, and distributing a product.

Three trends are evident in logistics: outsourcing, the use of the Internet, and

When Colgate-Palmolive and Unilever take a successful product that they marketed in one part of the world and market it elsewhere, they are following a market development strategy.

Avon is an example of a company that demonstrated having a diverse workforce

A financial strategy examines the financial implications of corporate and business-level strategic options and identifies the best financial course of action.

To avoid the consensus trap, which technique involving presenting two conflicting views (the thesis and the antithesis) presented in a debate format can be traced back to Plato and Aristotle?

Which strategy is developed to pull together the various activities and competencies of each department so that corporate and business unit performance improves and resource productivity is maximized?

A flexible manufacturing system is

The evaluation of alternative strategies and selection of the best alternative is referred to as

Some executives show a self-serving tendency to attribute the firm's problems not to their own poor decisions, but to environmental events out of their control such as government policies or a poor economic climate.

The orientation of the functional strategy is dictated by its parent business unit's strategy.

If a company wishes to be a technological follower and also pursue a differentiation strategy, the appropriate R&D strategy would be to

Basic Concepts in Strategic Management

Corporate Governance

Ethics and Social Responsibility in Strategic Management

Environmental Scanning and Industry Analysis

Internal Scanning and Organizational Analysis

Strategy Formulation: Situation Analysis and Business Strategy

Strategy Formulation: Corporate Strategy

Strategy Implementation: Organizing for Action

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters