Question 1

Explain the relation between a general manager and a strategic business unit.

Accepted Answer

General managers in SBUs must answer the strategic question of "how to compete" in order to achieve superior performance.A strategic business unit is a standalone division of a larger conglomerate,with its own profit and loss responsibility.General managers have the responsibility to formulate a strategic position for their business unit.
Explanation: This is the role of business-level strategy.

Question 2

The AFI Strategy Framework is used by managers to implement a human resource strategy for all employees within a firm.

Accepted Answer

A) True 
 B)False  False

Question 3

BRIC countries have more than 40% of the world's population and occupy more than a quarter of the world's landmass.Which of these countries is not a part of BRIC?

Accepted Answer

A)  India 
B)  Brazil 
C)  Canada 
D)  Russia 
A)  India 
B)  Brazil 
C)  Canada 
D)  Russia C

Question 4

The difference in managerial theories can have a large impact on the success or failure of businesses.In the automobile industry,what effect has the difference in assumptions between U.S.and Japanese manufacturers had on the market?

Accepted Answer

A)  The Japanese market was so small they needed to expand to reach economies of scale. 
B)  Lower fuel prices in the U.S. have yielded a sustained competitive advantage for U.S. firms thus far in the 21st century. 
C)  Fuel pricing differences have pushed the market to competitive parity. 
D)  Higher gas prices in Japan drove the market toward more fuel-efficient products sooner than in the U.S. 
A)  The Japanese market was so small they needed to expand to reach economies of scale. 
B)  Lower fuel prices in the U.S. have yielded a sustained competitive advantage for U.S. firms thus far in the 21st century. 
C)  Fuel pricing differences have pushed the market to competitive parity. 
D)  Higher gas prices in Japan drove the market toward more fuel-efficient products sooner than in the U.S.

Question 5

The essential core of strategy is doing the same thing as your rivals but being more effective at it.

Accepted Answer

A) True 
 B)False

Question 6

Give an example of a stakeholder group having so much power that it can be detrimental to the long-term health of a firm.

Accepted Answer

Students may give other examples,but the

Question 7

Threadless is an online apparel store.Its business model is quite different from most other apparel stores.Threadless leverages Web 2.0 capabilities by using crowdsourcing.How does this benefit Threadless in their T-shirt design process?

Accepted Answer

A)  Only professional designs are considered. 
B)  It both lowers the cost and ensures the popularity of selected designs. 
C)  The quality of the submissions is high. 
D)  It streamlines the production process. 
A)  Only professional designs are considered. 
B)  It both lowers the cost and ensures the popularity of selected designs. 
C)  The quality of the submissions is high. 
D)  It streamlines the production process.

Question 8

The idea to let consumers work for you and form a hybrid between producers and consumers is called ___________.

Accepted Answer

A)  Professional consumers 
B)  Consumer employees 
C)  Prosumers 
D)  Consumer innovators 
A)  Professional consumers 
B)  Consumer employees 
C)  Prosumers 
D)  Consumer innovators

Question 9

Give two examples of how green economies can be considered to be a future industry.

Accepted Answer

The green and clean-tech economy describ

Question 10

Strategic __________ is staking out a unique and valuable spot that allows the firm to meet customer demands.

Accepted Answer

A)  Positioning 
B)  Advantage 
C)  Goal 
D)  Segmentation 
A)  Positioning 
B)  Advantage 
C)  Goal 
D)  Segmentation

Question 11

Google and Microsoft have approached the market using quite different business models.Over time,they have engaged in multi-point competition.Which of the following best describes this competition today?

Accepted Answer

A)  They have very divergent corporate strategies. 
B)  They are an example of co-opetition in action. 
C)  They are largely competing in mobile device operating systems. 
D)  They compete for market share in several different product categories. 
A)  They have very divergent corporate strategies. 
B)  They are an example of co-opetition in action. 
C)  They are largely competing in mobile device operating systems. 
D)  They compete for market share in several different product categories.

Question 12

Business managers test their theories in the marketplace.An accurate set of assumptions will yield enhanced strategic decisions.When the Apple Newton product failed in 1993,what feedback did Apple (and its alert competitors)collect from the experience?

Accepted Answer

A)  It was too early for personal mobile products. 
B)  The price and bulkiness were not right for the PDA market then. 
C)  The color and styling of the device were not well liked. 
D)  It was not possible to have a competitive advantage then. 
A)  It was too early for personal mobile products. 
B)  The price and bulkiness were not right for the PDA market then. 
C)  The color and styling of the device were not well liked. 
D)  It was not possible to have a competitive advantage then.

Question 13

The vast majority of today's economic activity around the globe is powered by carbon-based sources of energy.Which of the following is not considered a carbon-based source of energy?

Accepted Answer

A)  Oil 
B)  Coal 
C)  Wind 
D)  Natural gas 
A)  Oil 
B)  Coal 
C)  Wind 
D)  Natural gas

Question 14

The division director of marketing of a major consulting firm is most often making decisions at which level of strategy?

Accepted Answer

A)  Corporate strategy 
B)  Functional strategy 
C)  Business-level strategy 
D)  Alliance strategy 
A)  Corporate strategy 
B)  Functional strategy 
C)  Business-level strategy 
D)  Alliance strategy

Question 15

All of the following are considered an external stakeholder within a firm except which of the following?

Accepted Answer

A)  Alliance partners 
B)  Governments 
C)  Employees 
D)  Creditors 
A)  Alliance partners 
B)  Governments 
C)  Employees 
D)  Creditors

Question 16

One firm has announced a major initiative in the health care field called healthymagination.This initiative is geared to draw on existing expertise in other business units to find new emerging opportunities in health care.What firm has launched this initiative?

Accepted Answer

A)  International Business Machines (IBM) 
B)  Siemens 
C)  General Electric (G
E)  
D)  23andMe 
A)  International Business Machines (IBM) 
B)  Siemens 
C)  General Electric (G
E)  
D)  23andMe

Question 17

Explain why Generation-Y population is also referred to as digital natives.

Accepted Answer

The Gen-Y cohorts came of age during the

Question 18

Duke basketball winning by two points over Butler in the 2010 NCAA championship game is an example of what?

Accepted Answer

A)  A competitive parity 
B)  A sustained competitive advantage 
C)  A temporary competitive advantage 
D)  A competitive business model 
A)  A competitive parity 
B)  A sustained competitive advantage 
C)  A temporary competitive advantage 
D)  A competitive business model

Question 19

The textbook divides the impacts explaining superior firm performance into three categories: Industries Effects,Firm Effects,and Other Effects.Which is the smallest of the effects?

Accepted Answer

A)  Industry Effects 
B)  Unexplained Variance 
C)  Other Effects 
D)  Firm Effects 
A)  Industry Effects 
B)  Unexplained Variance 
C)  Other Effects 
D)  Firm Effects

Question 20

Gillette invented a "razor-razor-blade" model of business,whereby the razor handle is provided at a low cost and the replacement razor blades are sold relatively expensively.Which of the following is another example of this business model?

Accepted Answer

A)  Audible.com audiobooks 
B)  HP laser printers 
C)  Tom's shoe sales "1 for 1" 
D)  The New York Times newspaper 
A)  Audible.com audiobooks 
B)  HP laser printers 
C)  Tom's shoe sales "1 for 1" 
D)  The New York Times newspaper

Explain the relation between a general manager and a strategic business unit.

The AFI Strategy Framework is used by managers to implement a human resource strategy for all employees within a firm.

BRIC countries have more than 40% of the world's population and occupy more than a quarter of the world's landmass.Which of these countries is not a part of BRIC?

The difference in managerial theories can have a large impact on the success or failure of businesses.In the automobile industry,what effect has the difference in assumptions between U.S.and Japanese manufacturers had on the market?

The essential core of strategy is doing the same thing as your rivals but being more effective at it.

Give an example of a stakeholder group having so much power that it can be detrimental to the long-term health of a firm.

Threadless is an online apparel store.Its business model is quite different from most other apparel stores.Threadless leverages Web 2.0 capabilities by using crowdsourcing.How does this benefit Threadless in their T-shirt design process?

The idea to let consumers work for you and form a hybrid between producers and consumers is called ___________.

Give two examples of how green economies can be considered to be a future industry.

Strategic __________ is staking out a unique and valuable spot that allows the firm to meet customer demands.

Google and Microsoft have approached the market using quite different business models.Over time,they have engaged in multi-point competition.Which of the following best describes this competition today?

Business managers test their theories in the marketplace.An accurate set of assumptions will yield enhanced strategic decisions.When the Apple Newton product failed in 1993,what feedback did Apple (and its alert competitors)collect from the experience?

The vast majority of today's economic activity around the globe is powered by carbon-based sources of energy.Which of the following is not considered a carbon-based source of energy?

The division director of marketing of a major consulting firm is most often making decisions at which level of strategy?

All of the following are considered an external stakeholder within a firm except which of the following?

One firm has announced a major initiative in the health care field called healthymagination.This initiative is geared to draw on existing expertise in other business units to find new emerging opportunities in health care.What firm has launched this initiative?

Explain why Generation-Y population is also referred to as digital natives.

Duke basketball winning by two points over Butler in the 2010 NCAA championship game is an example of what?

The textbook divides the impacts explaining superior firm performance into three categories: Industries Effects,Firm Effects,and Other Effects.Which is the smallest of the effects?

Gillette invented a "razor-razor-blade" model of business,whereby the razor handle is provided at a low cost and the replacement razor blades are sold relatively expensively.Which of the following is another example of this business model?

The Strategic Management Process

External Analysis: Industry Structure, Competitive Forces, and Strategic Groups

Internal Analysis: Resources, Capabilities, and Activities

Competitive Advantage and Firm Performance

Business Strategy: Differentiation, Cost Leadership, and Integration

Business Strategy: Innovation and Strategic Entrepreneurship

Corporate Strategy: Vertical Integration and Diversification

Corporate Strategy: Acquisitions, Alliances, and Networks

Global Strategy: Competing Around the World

Organizational Design: Structure, Culture, and Control

Corporate Governance, Business Ethics, and Strategic Leadership

Filters

Exam 1: What Is Strategy and Why Is It Important

Explain the relation between a general manager and a strategic business unit.

The AFI Strategy Framework is used by managers to implement a human resource strategy for all employees within a firm.

BRIC countries have more than 40% of the world's population and occupy more than a quarter of the world's landmass.Which of these countries is not a part of BRIC?

The difference in managerial theories can have a large impact on the success or failure of businesses.In the automobile industry,what effect has the difference in assumptions between U.S.and Japanese manufacturers had on the market?

The essential core of strategy is doing the same thing as your rivals but being more effective at it.

Give an example of a stakeholder group having so much power that it can be detrimental to the long-term health of a firm.

Threadless is an online apparel store.Its business model is quite different from most other apparel stores.Threadless leverages Web 2.0 capabilities by using crowdsourcing.How does this benefit Threadless in their T-shirt design process?

The idea to let consumers work for you and form a hybrid between producers and consumers is called ___________.

Give two examples of how green economies can be considered to be a future industry.

Strategic __________ is staking out a unique and valuable spot that allows the firm to meet customer demands.

Google and Microsoft have approached the market using quite different business models.Over time,they have engaged in multi-point competition.Which of the following best describes this competition today?

Business managers test their theories in the marketplace.An accurate set of assumptions will yield enhanced strategic decisions.When the Apple Newton product failed in 1993,what feedback did Apple (and its alert competitors)collect from the experience?

The vast majority of today's economic activity around the globe is powered by carbon-based sources of energy.Which of the following is not considered a carbon-based source of energy?

The division director of marketing of a major consulting firm is most often making decisions at which level of strategy?

All of the following are considered an external stakeholder within a firm except which of the following?

One firm has announced a major initiative in the health care field called healthymagination.This initiative is geared to draw on existing expertise in other business units to find new emerging opportunities in health care.What firm has launched this initiative?

Explain why Generation-Y population is also referred to as digital natives.

Duke basketball winning by two points over Butler in the 2010 NCAA championship game is an example of what?

The textbook divides the impacts explaining superior firm performance into three categories: Industries Effects,Firm Effects,and Other Effects.Which is the smallest of the effects?

Gillette invented a "razor-razor-blade" model of business,whereby the razor handle is provided at a low cost and the replacement razor blades are sold relatively expensively.Which of the following is another example of this business model?

The Strategic Management Process

External Analysis: Industry Structure, Competitive Forces, and Strategic Groups

Internal Analysis: Resources, Capabilities, and Activities

Competitive Advantage and Firm Performance

Business Strategy: Differentiation, Cost Leadership, and Integration

Business Strategy: Innovation and Strategic Entrepreneurship

Corporate Strategy: Vertical Integration and Diversification

Corporate Strategy: Acquisitions, Alliances, and Networks

Global Strategy: Competing Around the World

Organizational Design: Structure, Culture, and Control

Corporate Governance, Business Ethics, and Strategic Leadership

Filters