Question 1

Competitive advantage refers to the set of decisions and actions used to formulate and implement strategies.

Accepted Answer

A) True 
 B)False

Question 2

Internal analysis examines overall organization structure, management competence and quality, and human resource characteristics.

Accepted Answer

A) True 
 B)False

Question 3

Which strategy can be profitable for an organization when customers are loyal and willing to pay high prices?

Accepted Answer

A)  Focus 
B)  Globalization 
C)  Overall cost leadership 
D)  Differentiation 
E)  Liquidation 
A)  Focus 
B)  Globalization 
C)  Overall cost leadership 
D)  Differentiation 
E)  Liquidation

Question 4

Ford's decision to completely redesign its Ford Taurus can be classified as a

Accepted Answer

A)  corporate level strategy. 
B)  business level strategy. 
C)  functional level strategy. 
D)  retrenchment strategy. 
E)  stability strategy. 
A)  corporate level strategy. 
B)  business level strategy. 
C)  functional level strategy. 
D)  retrenchment strategy. 
E)  stability strategy.

Question 5

All of the following are Porter's competitive forces EXCEPT

Accepted Answer

A)  differentiation. 
B)  bargaining power of buyers. 
C)  bargaining power of suppliers. 
D)  threat of substitute products. 
E)  potential new entrants. 
A)  differentiation. 
B)  bargaining power of buyers. 
C)  bargaining power of suppliers. 
D)  threat of substitute products. 
E)  potential new entrants.

Question 6

As a way of implementing their differentiation strategy which emphasizes quality, ABC Corporation decided to switch from an assembly line manufacturing system to a system based on work teams. This is an example of which of the dimensions used for implementing strategy?

Accepted Answer

A)  Leadership 
B)  Structural design 
C)  Human resources 
D)  Information systems 
E)  Control systems 
A)  Leadership 
B)  Structural design 
C)  Human resources 
D)  Information systems 
E)  Control systems

Question 7

The transnational strategy handles markets independently for each country.

Accepted Answer

A) True 
 B)False

Question 8

List the three global corporate strategies.

Accepted Answer

Globalization strate

Question 9

The task environment sectors are the most relevant to strategic behavior and include the behavior of competitors, customers, suppliers, and the labor supply.

Accepted Answer

A) True 
 B)False

Question 10

Dynamic capabilities is the leveraging and developing more from the firm's existing assets, capabilities, and core competencies in a way that will provide a sustained competitive advantage.

Accepted Answer

A) True 
 B)False

Question 11

If ABC International has standardized its product line throughout the world it is pursuing a

Accepted Answer

A)  multidomestic strategy. 
B)  retrenchment strategy. 
C)  diversity strategy. 
D)  globalization strategy. 
E)  liquidation strategy. 
A)  multidomestic strategy. 
B)  retrenchment strategy. 
C)  diversity strategy. 
D)  globalization strategy. 
E)  liquidation strategy.

Question 12

Cost leadership is a type of competitive strategy with which the organization seeks to distinguish its products or services from that of competitors.

Accepted Answer

A) True 
 B)False

Question 13

Better-Than-The-Rest, Inc.'s ability to market its products better than its competitors is an example of its core competence.

Accepted Answer

A) True 
 B)False

Question 14

Decisions regarding the proper amount of advertising for a particular good or service are related to

Accepted Answer

A)  corporate-level strategies. 
B)  functional-level strategies. 
C)  tactical-level strategies. 
D)  business-level strategies. 
E)  retrenchment strategies. 
A)  corporate-level strategies. 
B)  functional-level strategies. 
C)  tactical-level strategies. 
D)  business-level strategies. 
E)  retrenchment strategies.

Question 15

According to MANAGER'S SHOPTALK in Chapter 7, all of the following are clues for creating an environment and process conducive to effective strategy implementation EXCEPT:

Accepted Answer

A)  Assume commitment to the strategy 
B)  Devise a clear implementation plan 
C)  Pay attention to culture 
D)  Take advantage of employees' knowledge and skills 
E)  Communicate, communicate, communicate 
A)  Assume commitment to the strategy 
B)  Devise a clear implementation plan 
C)  Pay attention to culture 
D)  Take advantage of employees' knowledge and skills 
E)  Communicate, communicate, communicate

Question 16

Scenario - SS.com
Faced with rapidly growing business, Swift Stocks, Inc., a global brokerage company with the largest market share, recently announced that they have established an on-line stock investment and trading subsidiary, SS.com, where investors can trade stocks at the lowest rates in the industry. The .com subsidiary has less than one percent market share but it faces a very high business growth rate. In the brokerage industry the competition is fierce and all players are cutting their on-line commission rates.
-SS.com subsidiary for Swift Stocks can be classified as a

Accepted Answer

A)  cash cow. 
B)  dog. 
C)  star. 
D)  question mark. 
E)  stuck in the middle business. 
A)  cash cow. 
B)  dog. 
C)  star. 
D)  question mark. 
E)  stuck in the middle business.

Question 17

The plan of action that prescribes resource allocation and other activities for dealing with the environment and helping the organization attain its goals is called a(n) ____________________.

Accepted Answer

The answer of The plan of action that prescribes resource...

Question 18

Differentiate between strategy formulation and strategy implementation.

Accepted Answer

Strategy formulation includes the planni

Question 19

____ refers to the use of managerial tools to direct resources toward the achievement of strategic goals.

Accepted Answer

A)  Strategy formulation 
B)  Strategy coordination 
C)  Strategy implementation 
D)  Strategy control 
E)  Strategy planning 
A)  Strategy formulation 
B)  Strategy coordination 
C)  Strategy implementation 
D)  Strategy control 
E)  Strategy planning

Question 20

Briefly describe the five competitive forces identified by Michael E. Porter.

Accepted Answer

Potential new entrants: Capital requirem

Competitive advantage refers to the set of decisions and actions used to formulate and implement strategies.

Internal analysis examines overall organization structure, management competence and quality, and human resource characteristics.

Which strategy can be profitable for an organization when customers are loyal and willing to pay high prices?

Ford's decision to completely redesign its Ford Taurus can be classified as a

All of the following are Porter's competitive forces EXCEPT

As a way of implementing their differentiation strategy which emphasizes quality, ABC Corporation decided to switch from an assembly line manufacturing system to a system based on work teams. This is an example of which of the dimensions used for implementing strategy?

The transnational strategy handles markets independently for each country.

List the three global corporate strategies.

The task environment sectors are the most relevant to strategic behavior and include the behavior of competitors, customers, suppliers, and the labor supply.

Dynamic capabilities is the leveraging and developing more from the firm's existing assets, capabilities, and core competencies in a way that will provide a sustained competitive advantage.

If ABC International has standardized its product line throughout the world it is pursuing a

Cost leadership is a type of competitive strategy with which the organization seeks to distinguish its products or services from that of competitors.

Better-Than-The-Rest, Inc.'s ability to market its products better than its competitors is an example of its core competence.

Decisions regarding the proper amount of advertising for a particular good or service are related to

According to MANAGER'S SHOPTALK in Chapter 7, all of the following are clues for creating an environment and process conducive to effective strategy implementation EXCEPT:

The plan of action that prescribes resource allocation and other activities for dealing with the environment and helping the organization attain its goals is called a(n) ____________________.

Differentiate between strategy formulation and strategy implementation.

____ refers to the use of managerial tools to direct resources toward the achievement of strategic goals.

Briefly describe the five competitive forces identified by Michael E. Porter.

Innovative Management for Turbulent Times

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Planning and Goal Setting

Managerial Decision Making

Designing Adaptive Organizations

Managing Change and Innovation

Managing Human Resources

Managing Diversity

Dynamics of Behavior in Organizations

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Managing the Value Chain, Information Technology, and E-Business

Managing Small Business Start-Ups

Filters

Exam 7: Strategy Formulation and Implementation

Competitive advantage refers to the set of decisions and actions used to formulate and implement strategies.

Internal analysis examines overall organization structure, management competence and quality, and human resource characteristics.

Which strategy can be profitable for an organization when customers are loyal and willing to pay high prices?

Ford's decision to completely redesign its Ford Taurus can be classified as a

All of the following are Porter's competitive forces EXCEPT

As a way of implementing their differentiation strategy which emphasizes quality, ABC Corporation decided to switch from an assembly line manufacturing system to a system based on work teams. This is an example of which of the dimensions used for implementing strategy?

The transnational strategy handles markets independently for each country.

List the three global corporate strategies.

The task environment sectors are the most relevant to strategic behavior and include the behavior of competitors, customers, suppliers, and the labor supply.

Dynamic capabilities is the leveraging and developing more from the firm's existing assets, capabilities, and core competencies in a way that will provide a sustained competitive advantage.

If ABC International has standardized its product line throughout the world it is pursuing a

Cost leadership is a type of competitive strategy with which the organization seeks to distinguish its products or services from that of competitors.

Better-Than-The-Rest, Inc.'s ability to market its products better than its competitors is an example of its core competence.

Decisions regarding the proper amount of advertising for a particular good or service are related to

According to MANAGER'S SHOPTALK in Chapter 7, all of the following are clues for creating an environment and process conducive to effective strategy implementation EXCEPT:

The plan of action that prescribes resource allocation and other activities for dealing with the environment and helping the organization attain its goals is called a(n) ____________________.

Differentiate between strategy formulation and strategy implementation.

____ refers to the use of managerial tools to direct resources toward the achievement of strategic goals.

Briefly describe the five competitive forces identified by Michael E. Porter.

Innovative Management for Turbulent Times

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Planning and Goal Setting

Managerial Decision Making

Designing Adaptive Organizations

Managing Change and Innovation

Managing Human Resources

Managing Diversity

Dynamics of Behavior in Organizations

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing Quality and Performance

Managing the Value Chain, Information Technology, and E-Business

Managing Small Business Start-Ups

Filters