Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

When a company determines how and where a product or service is to be manufactured, the level of vertical integration in the production process, the deployment of physical resources, and relationships with suppliers, the company is developing its ________ strategy.

Accepted Answer

A) marketing 
B) R&D 
C) operations 
D) financial 
E) human resource management 
A) marketing 
B) R&D 
C) operations 
D) financial 
E) human resource management

Question 3

The purchasing strategy in which the purchasing company orders a particular part from several vendors is

Accepted Answer

A) sole sourcing. 
B) multiple sourcing. 
C) just-in-time sourcing. 
D) backup sourcing. 
E) parallel sourcing. 
A) sole sourcing. 
B) multiple sourcing. 
C) just-in-time sourcing. 
D) backup sourcing. 
E) parallel sourcing.

Question 4

Fujitsu demonstrated a strategy to avoid when it imitated IBM's strategy in 1990.

Accepted Answer

A) True 
 B)False

Question 5

Two suppliers are the sole suppliers of two different parts, but they are also backup suppliers for each others parts in parallel sourcing.

Accepted Answer

A) True 
 B)False

Question 6

The technique used to help strategic managers choose among alternative choices by defining the task environment, developing a set of various forecasts, and using pro forma financial statements is called

Accepted Answer

A) decision trees. 
B) S)W.O.T. analysis. 
C) industry scenarios. 
D) corporate scenarios. 
E) Capital Asset Pricing Model. 
A) decision trees. 
B) S)W.O.T. analysis. 
C) industry scenarios. 
D) corporate scenarios. 
E) Capital Asset Pricing Model.

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

A company which has previously found great success pioneering an extremely successful product that is presently trying to turn another "long-shot" into a likely success would be an example of which strategy to avoid?

Accepted Answer

A) follow the leader 
B) hit another home run 
C) arms race 
D) do everything 
E) losing hand 
A) follow the leader 
B) hit another home run 
C) arms race 
D) do everything 
E) losing hand

Question 9

Cultural backgrounds affect strategic choices.Korean executives emphasize ________ in their decisions; whereas U.S.executives emphasize ________.

Accepted Answer

A) projected demand, discounted cash flow, and ROI; industry attractiveness, sales and market share 
B) Industry attractiveness, sales and market share; projected demand, discounted cash flow, and ROI 
C) Ego; industry attractiveness 
D) Maintaining the status quo; change 
E) none of the above 
A) projected demand, discounted cash flow, and ROI; industry attractiveness, sales and market share 
B) Industry attractiveness, sales and market share; projected demand, discounted cash flow, and ROI 
C) Ego; industry attractiveness 
D) Maintaining the status quo; change 
E) none of the above

Question 10

When there are highly automated assembly lines making one mass-produced product using little human labor, this setup is called

Accepted Answer

A) dedicated transfer lines. 
B) connected line batch flow. 
C) connected job flow. 
D) mass batch lines. 
E) mass job flow. 
A) dedicated transfer lines. 
B) connected line batch flow. 
C) connected job flow. 
D) mass batch lines. 
E) mass job flow.

Question 11

A flexible manufacturing system is defined by the text as

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) the 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. 
A) one-of-a-kind production using skilled labor. 
B) highly automated assembly lines making one mass-produced product using little human labor. 
C) the 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.

Question 12

Sara Lee Corporation uses the line extension strategy when they put the Sara Lee name on various new food products.

Accepted Answer

A) True 
 B)False

Question 13

A company which has invested so heavily in a particular strategy that it will not consider a change in this strategy even if it is not successful, would be an example of which strategy to avoid?

Accepted Answer

A) follow the leader 
B) hit another home run 
C) arms race 
D) do everything 
E) losing hand 
A) follow the leader 
B) hit another home run 
C) arms race 
D) do everything 
E) losing hand

Question 14

The pricing, selling, and distributing of a product is referred to as a(n)________ strategy.

Accepted Answer

A) marketing 
B) functional 
C) operations 
D) financial 
E) human resource management 
A) marketing 
B) functional 
C) operations 
D) financial 
E) human resource management

Question 15

The key to outsourcing is to purchase from outside only those activities that are not key to the company's distinctive competencies.

Accepted Answer

A) True 
 B)False

Question 16

Each business unit has its own set of departments, each with its own functional strategy.

Accepted Answer

A) True 
 B)False

Question 17

Distinguish between a market development and a product development strategy.

Accepted Answer

Using a market development strategy, a c

Question 18

A company which enters into a spirited battle for market share by cutting prices and offering special deals would be an example of which strategy to avoid?

Accepted Answer

A) follow the leader 
B) hit another home run 
C) arms race 
D) do everything 
E) losing hand 
A) follow the leader 
B) hit another home run 
C) arms race 
D) do everything 
E) losing hand

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

Which one of the following is NOT one of the questions that management should raise in their attempt to assess the importance to the corporation of stakeholders' concerns?

Accepted Answer

A) Which stakeholder group should be represented on the board of directors? 
B) How will this decision affect each stakeholder? 
C) How much of what the stakeholders want are they likely to get under a certain alternative? 
D) What are the stakeholders likely to do if they don't get what they want? 
E) What is the probability that the stakeholders will follow through on their demand? 
A) Which stakeholder group should be represented on the board of directors? 
B) How will this decision affect each stakeholder? 
C) How much of what the stakeholders want are they likely to get under a certain alternative? 
D) What are the stakeholders likely to do if they don't get what they want? 
E) What is the probability that the stakeholders will follow through on their demand?

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

When a company determines how and where a product or service is to be manufactured, the level of vertical integration in the production process, the deployment of physical resources, and relationships with suppliers, the company is developing its ________ strategy.

The purchasing strategy in which the purchasing company orders a particular part from several vendors is

Fujitsu demonstrated a strategy to avoid when it imitated IBM's strategy in 1990.

Two suppliers are the sole suppliers of two different parts, but they are also backup suppliers for each others parts in parallel sourcing.

The technique used to help strategic managers choose among alternative choices by defining the task environment, developing a set of various forecasts, and using pro forma financial statements is called

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

A company which has previously found great success pioneering an extremely successful product that is presently trying to turn another "long-shot" into a likely success would be an example of which strategy to avoid?

Cultural backgrounds affect strategic choices.Korean executives emphasize in their decisions; whereas U.S.executives emphasize .

When there are highly automated assembly lines making one mass-produced product using little human labor, this setup is called

A flexible manufacturing system is defined by the text as

Sara Lee Corporation uses the line extension strategy when they put the Sara Lee name on various new food products.

A company which has invested so heavily in a particular strategy that it will not consider a change in this strategy even if it is not successful, would be an example of which strategy to avoid?

The pricing, selling, and distributing of a product is referred to as a(n)________ strategy.

The key to outsourcing is to purchase from outside only those activities that are not key to the company's distinctive competencies.

Each business unit has its own set of departments, each with its own functional strategy.

Distinguish between a market development and a product development strategy.

A company which enters into a spirited battle for market share by cutting prices and offering special deals would be an example of which strategy to avoid?

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

Which one of the following is NOT one of the questions that management should raise in their attempt to assess the importance to the corporation of stakeholders' concerns?

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

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

When a company determines how and where a product or service is to be manufactured, the level of vertical integration in the production process, the deployment of physical resources, and relationships with suppliers, the company is developing its ________ strategy.

The purchasing strategy in which the purchasing company orders a particular part from several vendors is

Fujitsu demonstrated a strategy to avoid when it imitated IBM's strategy in 1990.

Two suppliers are the sole suppliers of two different parts, but they are also backup suppliers for each others parts in parallel sourcing.

The technique used to help strategic managers choose among alternative choices by defining the task environment, developing a set of various forecasts, and using pro forma financial statements is called

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

A company which has previously found great success pioneering an extremely successful product that is presently trying to turn another "long-shot" into a likely success would be an example of which strategy to avoid?

Cultural backgrounds affect strategic choices.Korean executives emphasize ________ in their decisions; whereas U.S.executives emphasize ________.

When there are highly automated assembly lines making one mass-produced product using little human labor, this setup is called

A flexible manufacturing system is defined by the text as

Sara Lee Corporation uses the line extension strategy when they put the Sara Lee name on various new food products.

A company which has invested so heavily in a particular strategy that it will not consider a change in this strategy even if it is not successful, would be an example of which strategy to avoid?

The pricing, selling, and distributing of a product is referred to as a(n)________ strategy.

The key to outsourcing is to purchase from outside only those activities that are not key to the company's distinctive competencies.

Each business unit has its own set of departments, each with its own functional strategy.

Distinguish between a market development and a product development strategy.

A company which enters into a spirited battle for market share by cutting prices and offering special deals would be an example of which strategy to avoid?

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

Which one of the following is NOT one of the questions that management should raise in their attempt to assess the importance to the corporation of stakeholders' concerns?

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

Cultural backgrounds affect strategic choices.Korean executives emphasize in their decisions; whereas U.S.executives emphasize .