Question 1

What are the strategies to avoid proposed by the authors?

Accepted Answer

The strategies to avoid are as follows:
1.Follow the leader.Imitating a leading competitor's strategy might seem to be a good idea,but it ignores a firm's particular strengths and weaknesses and the possibility that the leader may be wrong.
2.Hit another home run.If a company is successful because it pioneered an extremely successful product,it tends to search for another super product that will ensure growth and prosperity.
3.Arms race.Entering into a spirited battle with another firm for increased market share might increase sales revenue,but that increase will probably be more than offset by increases in advertising,promotion,R&D,and manufacturing costs.
4.Do everything.When faced with several interesting opportunities,management might tend to leap at all of them.At first,a corporation might have enough resources to develop each idea into a project,but money,time,and energy are soon exhausted as the many projects demand large infusions of resources.
5.Losing hand.A corporation might have invested so much in a particular strategy that top management is unwilling to accept its failure.Believing that it has too much invested to quit,the corporation continues to throw "good money after bad."

Question 2

If there is little fit between a strategic alternative under consideration and the corporate culture,which of the following is one of management's options to consider?

Accepted Answer

A)  Take a chance on ignoring the culture by implementing the strategic alternative. 
B)  Manage around the culture and change the implementation plan. 
C)  Try to change the culture to fit the strategy. 
D)  Change the strategy to fit the culture. 
E)  Restrict the firm to consider only those strategies compatible with the culture. 
A)  Take a chance on ignoring the culture by implementing the strategic alternative. 
B)  Manage around the culture and change the implementation plan. 
C)  Try to change the culture to fit the strategy. 
D)  Change the strategy to fit the culture. 
E)  Restrict the firm to consider only those strategies compatible with the culture. E

Question 3

The concept of ________ was taken one step further in JIT II,in which vendor sales representatives usually have desks next to the purchasing company's factory floor,attend production status meetings,visit the R&D lab,and analyze the purchasing company's sales forecasts.

Accepted Answer

A)  multiple sourcing 
B)  outsourcing 
C)  sole sourcing 
D)  parallel sourcing 
E)  all of the above 
A)  multiple sourcing 
B)  outsourcing 
C)  sole sourcing 
D)  parallel sourcing 
E)  all of the above C

Question 4

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 5

A company that has previously found great success pioneering an extremely successful product that is presently trying to turn another "long-shot" into a 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 6

Using a market development strategy,a company can capture a larger share of an existing market for current products or develop new markets for current products.

Accepted Answer

A) True 
 B)False

Question 7

Research indicates that the use of work teams leads to decreased quality and productivity as well as lower employee satisfaction and commitment as a result of less accountability.

Accepted Answer

A) True 
 B)False

Question 8

According to Paul Nutt,a decision-making authority,what percent of decisions made by managers are failures?

Accepted Answer

A)  10% 
B)  25% 
C)  50% 
D)  75% 
E)  90% 
A)  10% 
B)  25% 
C)  50% 
D)  75% 
E)  90%

Question 9

All of the following are benefits for a company to raising its debt levels EXCEPT

Accepted Answer

A)  deter takeover attempts by other firms. 
B)  improve productivity. 
C)  improve cash flows. 
D)  force management to focus on core businesses. 
E)  improve strategic options available. 
A)  deter takeover attempts by other firms. 
B)  improve productivity. 
C)  improve cash flows. 
D)  force management to focus on core businesses. 
E)  improve strategic options available.

Question 10

A strategy's compatibility with the corporate culture has little likelihood of impacting its success.

Accepted Answer

A) True 
 B)False

Question 11

The strategy that deals with product and process innovation and improvement is known as a(n) ________ 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 12

A company may use which of the following trade promotions to "pull" their products through the distribution system?

Accepted Answer

A)  discounts 
B)  in-store special offers 
C)  advertising allowances 
D)  coupons 
E)  consumer advertising 
A)  discounts 
B)  in-store special offers 
C)  advertising allowances 
D)  coupons 
E)  consumer advertising

Question 13

When a company spends a large amount of money on trade promotion in order to gain or hold shelf space in retail outlets,a company is using a ________ strategy.

Accepted Answer

A)  pull 
B)  push 
C)  financial 
D)  dedicated line 
E)  dynamic pricing 
A)  pull 
B)  push 
C)  financial 
D)  dedicated line 
E)  dynamic pricing

Question 14

Purchasing a product or service from an outside contractor that had been previously provided internally is called

Accepted Answer

A)  vertical integration. 
B)  horizontal integration. 
C)  transaction costing. 
D)  outsourcing. 
E)  geographic integration. 
A)  vertical integration. 
B)  horizontal integration. 
C)  transaction costing. 
D)  outsourcing. 
E)  geographic integration.

Question 15

The purchasing strategy in which two suppliers are the sole suppliers of different parts,but are also the backup suppliers for each other's parts 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 16

W.Edwards Deming,a well-known management consultant,strongly recommended sole sourcing as the only manageable way to obtain high supplier quality.

Accepted Answer

A) True 
 B)False

Question 17

Another approach to evaluating alternatives under conditions of high environmental uncertainty is to use the

Accepted Answer

A)  net present value. 
B)  real-options approach. 
C)  stakeholder priority matrix. 
D)  risk assessment approach. 
E)  hurdle rate approach. 
A)  net present value. 
B)  real-options approach. 
C)  stakeholder priority matrix. 
D)  risk assessment approach. 
E)  hurdle rate approach.

Question 18

P&G decreed that the company would search outside their organization for new ideas.To achieve this,the company used

Accepted Answer

A)  technology scouts. 
B)  a technological follower strategy. 
C)  open sourcing. 
D)  outsourcing. 
E)  offshoring. 
A)  technology scouts. 
B)  a technological follower strategy. 
C)  open sourcing. 
D)  outsourcing. 
E)  offshoring.

Question 19

The purchasing strategy used by an automobile manufacturer when it orders seats for a specific car model 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 20

When the Kellogg Company changed to a push strategy,they spent more money on consumer advertising designed to build brand awareness so that shoppers will ask for the products.

Accepted Answer

A) True 
 B)False

What are the strategies to avoid proposed by the authors?

If there is little fit between a strategic alternative under consideration and the corporate culture,which of the following is one of management's options to consider?

The concept of ________ was taken one step further in JIT II,in which vendor sales representatives usually have desks next to the purchasing company's factory floor,attend production status meetings,visit the R&D lab,and analyze the purchasing company's sales forecasts.

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

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

Using a market development strategy,a company can capture a larger share of an existing market for current products or develop new markets for current products.

Research indicates that the use of work teams leads to decreased quality and productivity as well as lower employee satisfaction and commitment as a result of less accountability.

According to Paul Nutt,a decision-making authority,what percent of decisions made by managers are failures?

All of the following are benefits for a company to raising its debt levels EXCEPT

A strategy's compatibility with the corporate culture has little likelihood of impacting its success.

The strategy that deals with product and process innovation and improvement is known as a(n) ________ strategy.

A company may use which of the following trade promotions to "pull" their products through the distribution system?

When a company spends a large amount of money on trade promotion in order to gain or hold shelf space in retail outlets,a company is using a ________ strategy.

Purchasing a product or service from an outside contractor that had been previously provided internally is called

The purchasing strategy in which two suppliers are the sole suppliers of different parts,but are also the backup suppliers for each other's parts is

W.Edwards Deming,a well-known management consultant,strongly recommended sole sourcing as the only manageable way to obtain high supplier quality.

Another approach to evaluating alternatives under conditions of high environmental uncertainty is to use the

P&G decreed that the company would search outside their organization for new ideas.To achieve this,the company used

The purchasing strategy used by an automobile manufacturer when it orders seats for a specific car model from several vendors is

When the Kellogg Company changed to a push strategy,they spent more money on consumer advertising designed to build brand awareness so that shoppers will ask for the products.

Basic Concepts in Strategic Management

Corporate Governance

Social Responsibility and Ethics in Strategic Management

Environmental Scanning and Industry Analysis

Organizational Analysis and Competitive Advantage

Strategy Formulation: Business Strategy

Strategy Formulation: Corporate Strategy

Strategy Implementation: Global Strategy

Strategy Implementation: Organizing and Structure

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters

Exam 8: Strategy Formulation: Functional Strategy and Strategic Choice

What are the strategies to avoid proposed by the authors?

If there is little fit between a strategic alternative under consideration and the corporate culture,which of the following is one of management's options to consider?

The concept of ________ was taken one step further in JIT II,in which vendor sales representatives usually have desks next to the purchasing company's factory floor,attend production status meetings,visit the R&D lab,and analyze the purchasing company's sales forecasts.

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

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

Using a market development strategy,a company can capture a larger share of an existing market for current products or develop new markets for current products.

Research indicates that the use of work teams leads to decreased quality and productivity as well as lower employee satisfaction and commitment as a result of less accountability.

According to Paul Nutt,a decision-making authority,what percent of decisions made by managers are failures?

All of the following are benefits for a company to raising its debt levels EXCEPT

A strategy's compatibility with the corporate culture has little likelihood of impacting its success.

The strategy that deals with product and process innovation and improvement is known as a(n) ________ strategy.

A company may use which of the following trade promotions to "pull" their products through the distribution system?

When a company spends a large amount of money on trade promotion in order to gain or hold shelf space in retail outlets,a company is using a ________ strategy.

Purchasing a product or service from an outside contractor that had been previously provided internally is called

The purchasing strategy in which two suppliers are the sole suppliers of different parts,but are also the backup suppliers for each other's parts is

W.Edwards Deming,a well-known management consultant,strongly recommended sole sourcing as the only manageable way to obtain high supplier quality.

Another approach to evaluating alternatives under conditions of high environmental uncertainty is to use the

P&G decreed that the company would search outside their organization for new ideas.To achieve this,the company used

The purchasing strategy used by an automobile manufacturer when it orders seats for a specific car model from several vendors is

When the Kellogg Company changed to a push strategy,they spent more money on consumer advertising designed to build brand awareness so that shoppers will ask for the products.

Basic Concepts in Strategic Management

Corporate Governance

Social Responsibility and Ethics in Strategic Management

Environmental Scanning and Industry Analysis

Organizational Analysis and Competitive Advantage

Strategy Formulation: Business Strategy

Strategy Formulation: Corporate Strategy

Strategy Implementation: Global Strategy

Strategy Implementation: Organizing and Structure

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters