Question 1

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 2

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 3

Which type of pricing takes advantage of the demand curve while the product is still novel and competitors are few to increase profits?

Accepted Answer

A)  demand pricing 
B)  skim pricing 
C)  competitive pricing 
D)  penetration pricing 
E)  loss-leader pricing 
A)  demand pricing 
B)  skim pricing 
C)  competitive pricing 
D)  penetration pricing 
E)  loss-leader pricing

Question 4

The flow of products into and out of the manufacturing process is a factor when developing a(n)________ strategy.

Accepted Answer

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

Question 5

The type of marketing strategy in which a company captures a larger share of an existing market for current products through market saturation or market penetration or develops new markets for current products is called

Accepted Answer

A)  market development. 
B)  push strategy. 
C)  product development. 
D)  pull strategy. 
E)  skimming the cream. 
A)  market development. 
B)  push strategy. 
C)  product development. 
D)  pull strategy. 
E)  skimming the cream.

Question 6

Once the best strategic alternative is selected,the broad guidelines for its implementation are then defined by

Accepted Answer

A)  trade-offs. 
B)  policies. 
C)  procedures. 
D)  resource allocation. 
E)  strategic options. 
A)  trade-offs. 
B)  policies. 
C)  procedures. 
D)  resource allocation. 
E)  strategic options.

Question 7

Even the most attractive strategic alternative might not be selected if it is contrary to the needs and desires of important top managers.

Accepted Answer

A) True 
 B)False

Question 8

The attractiveness of a strategic alternative is affected by its perceived compatibility with the key stakeholders in a corporation's task environment.

Accepted Answer

A) True 
 B)False

Question 9

When Smith & Wesson puts its name on others' products,like men's cologne,it is using which marketing strategy?

Accepted Answer

A)  demand pricing 
B)  brand pricing 
C)  brand extension 
D)  penetration extension 
E)  demand extension 
A)  demand pricing 
B)  brand pricing 
C)  brand extension 
D)  penetration extension 
E)  demand extension

Question 10

An operations strategy 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.

Accepted Answer

A) True 
 B)False

Question 11

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 involve a certain amo

Question 12

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 13

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 14

Outsourcing is the alternative to vertical integration.

Accepted Answer

A) True 
 B)False

Question 15

According to the text,which of the following is not one of the reasons why innovations seem to occur more often in small firms rather than in large,established corporations?

Accepted Answer

A)  An entrepreneur in a small firm is more willing to accept greater risk than would a larger firm. 
B)  Small firms are completely ignorant of risk management. 
C)  The greater the assets involved and the longer they are tied up, the more likely top management in large firms are to demand a high probability of success. 
D)  Companies operating in global industries must deal with a greater amount of risk than firms operating only in one country. 
E)  If the corporation's stock is widely held as in the case of large firms and experiences stock price declines due to some external assessment, it places the firm in jeopardy of being acquired. 
A)  An entrepreneur in a small firm is more willing to accept greater risk than would a larger firm. 
B)  Small firms are completely ignorant of risk management. 
C)  The greater the assets involved and the longer they are tied up, the more likely top management in large firms are to demand a high probability of success. 
D)  Companies operating in global industries must deal with a greater amount of risk than firms operating only in one country. 
E)  If the corporation's stock is widely held as in the case of large firms and experiences stock price declines due to some external assessment, it places the firm in jeopardy of being acquired.

Question 16

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 17

Which of the following is not a goal of financial strategies?

Accepted Answer

A)  Examine the financial implication of corporate and business-level strategic options and identify the best financial course of action. 
B)  Provide the corporation with the appropriate financial structure and funds to achieve its overall objectives. 
C)  Institute a new product development plan to generate profit gain market share. 
D)  Provide competitive advantage through a lower cost of funds and a flexible ability to raise capital to support a business strategy. 
E)  Attempt to maximize the financial value of the firm. 
A)  Examine the financial implication of corporate and business-level strategic options and identify the best financial course of action. 
B)  Provide the corporation with the appropriate financial structure and funds to achieve its overall objectives. 
C)  Institute a new product development plan to generate profit gain market share. 
D)  Provide competitive advantage through a lower cost of funds and a flexible ability to raise capital to support a business strategy. 
E)  Attempt to maximize the financial value of the firm.

Question 18

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 19

In evaluating a strategic alternative,if there is little fit with the company's culture,what are management's options?

Accepted Answer

In evaluating a strategic alternative,ma

Question 20

The use of 3-D printing demonstrates which manufacturing strategy?

Accepted Answer

A)  continuous improvement 
B)  mass production 
C)  job shop 
D)  mass customization 
E)  just-in-time 
A)  continuous improvement 
B)  mass production 
C)  job shop 
D)  mass customization 
E)  just-in-time

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

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

Which type of pricing takes advantage of the demand curve while the product is still novel and competitors are few to increase profits?

The flow of products into and out of the manufacturing process is a factor when developing a(n)________ strategy.

The type of marketing strategy in which a company captures a larger share of an existing market for current products through market saturation or market penetration or develops new markets for current products is called

Once the best strategic alternative is selected,the broad guidelines for its implementation are then defined by

Even the most attractive strategic alternative might not be selected if it is contrary to the needs and desires of important top managers.

The attractiveness of a strategic alternative is affected by its perceived compatibility with the key stakeholders in a corporation's task environment.

When Smith & Wesson puts its name on others' products,like men's cologne,it is using which marketing strategy?

An operations strategy 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.

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?

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.

Outsourcing is the alternative to vertical integration.

According to the text,which of the following is not one of the reasons why innovations seem to occur more often in small firms rather than in large,established corporations?

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?

Which of the following is not a goal of financial strategies?

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

In evaluating a strategic alternative,if there is little fit with the company's culture,what are management's options?

The use of 3-D printing demonstrates which manufacturing strategy?

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

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

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

Which type of pricing takes advantage of the demand curve while the product is still novel and competitors are few to increase profits?

The flow of products into and out of the manufacturing process is a factor when developing a(n)________ strategy.

The type of marketing strategy in which a company captures a larger share of an existing market for current products through market saturation or market penetration or develops new markets for current products is called

Once the best strategic alternative is selected,the broad guidelines for its implementation are then defined by

Even the most attractive strategic alternative might not be selected if it is contrary to the needs and desires of important top managers.

The attractiveness of a strategic alternative is affected by its perceived compatibility with the key stakeholders in a corporation's task environment.

When Smith & Wesson puts its name on others' products,like men's cologne,it is using which marketing strategy?

An operations strategy 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.

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?

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.

Outsourcing is the alternative to vertical integration.

According to the text,which of the following is not one of the reasons why innovations seem to occur more often in small firms rather than in large,established corporations?

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?

Which of the following is not a goal of financial strategies?

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

In evaluating a strategic alternative,if there is little fit with the company's culture,what are management's options?

The use of 3-D printing demonstrates which manufacturing strategy?

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