Question 1

When analyzing the "W" in SWOT analysis, a manager might take note of

Accepted Answer

A) a decrease in consumer demand. 
B) a competitor's bankruptcy. 
C) high turnover of employees. 
D) good financial resources of the firm. 
E) institution of a tariff on foreign competitors. 
A) a decrease in consumer demand. 
B) a competitor's bankruptcy. 
C) high turnover of employees. 
D) good financial resources of the firm. 
E) institution of a tariff on foreign competitors. C

Question 2

In a world of rapid and discontinuous change, the ability to please nonmanagerial employees has been called the golden trait among managers.

Accepted Answer

A) True 
 B)False  False

Question 3

Amanda has just determined that her employees will require extensive training if they are to acquire the necessary technological expertise to produce a new product line.She has discovered one of her firm's

Accepted Answer

A) strengths. 
B) weaknesses. 
C) opportunities. 
D) threats. 
E) market challenges. 
A) strengths. 
B) weaknesses. 
C) opportunities. 
D) threats. 
E) market challenges. B

Question 4

Oil companies must be aware of other firms' development of ethanol products since this is an example of which one force in Porter's model for industry analysis?

Accepted Answer

A) Bargaining power of buyers. 
B) Rivalry among competitors. 
C) Bargaining power of suppliers. 
D) Threats of new entrants. 
E) Threats of substitute products and services. 
A) Bargaining power of buyers. 
B) Rivalry among competitors. 
C) Bargaining power of suppliers. 
D) Threats of new entrants. 
E) Threats of substitute products and services.

Question 5

Which of the following strategy tools suggests that an organization will do better in fast-growing markets in which it has a high market share rather than in slow-growing markets in which it has a low market share?

Accepted Answer

A) SWOT analysis 
B) Porter's model for industry analysis 
C) Porter's competitive strategies 
D) The BCG matrix 
E) Trend analysis 
A) SWOT analysis 
B) Porter's model for industry analysis 
C) Porter's competitive strategies 
D) The BCG matrix 
E) Trend analysis

Question 6

Strategic planning is appropriate for large companies, but does not help the performance of small companies.

Accepted Answer

A) True 
 B)False

Question 7

Effective strategic management involves

Accepted Answer

A) only top management. 
B) only top and middle management. 
C) only middle and lower management levels. 
D) only lower management level. 
E) managers from all parts of the organization. 
A) only top management. 
B) only top and middle management. 
C) only middle and lower management levels. 
D) only lower management level. 
E) managers from all parts of the organization.

Question 8

A mission statement should be ambitious.

Accepted Answer

A) True 
 B)False

Question 9

Recently ConocoPhillips, America's third-biggest oil company, spun off its refineries, pipelines, and chemicals division to form a new company called Phillips 66.Now ConocoPhillips will concentrate on its upstream operations.This is a variation of which of these grand strategies?

Accepted Answer

A) Right-size 
B) Growth 
C) Stability 
D) Defensive 
E) Reorganization 
A) Right-size 
B) Growth 
C) Stability 
D) Defensive 
E) Reorganization

Question 10

Which of the following carmakers pursues a focused-differentiation strategy?

Accepted Answer

A) Ferrari 
B) Ford 
C) Volkswagen 
D) Honda 
E) Kia 
A) Ferrari 
B) Ford 
C) Volkswagen 
D) Honda 
E) Kia

Question 11

List at least five of the seven essential types of leader behaviors that are needed to fuel the engine of execution.

Accepted Answer

The seven essential types of leader beha

Question 12

When analyzing the "T" in SWOT analysis, a manager might take note of

Accepted Answer

A) the firm's cash flow problems. 
B) a competitor's new product. 
C) employee absenteeism. 
D) strong corporate culture. 
E) high service levels. 
A) the firm's cash flow problems. 
B) a competitor's new product. 
C) employee absenteeism. 
D) strong corporate culture. 
E) high service levels.

Question 13

Burberry makes outerwear, accessories like umbrellas, and children's clothing, which is called a related diversification strategy.

Accepted Answer

A) True 
 B)False

Question 14

A good vision statement should describe a company's major strengths and competitive advantage in its industry.

Accepted Answer

A) True 
 B)False

Question 15

Planning is usually a straightjacket for new ideas, since it effectively blocks peripheral vision in favor of a predetermined course.

Accepted Answer

A) True 
 B)False

Question 16

Synergy is one of the benefits of a single-product strategy.

Accepted Answer

A) True 
 B)False

Question 17

Explain the positive and negative aspects of pursuing a single-product strategy versus a diversification one.Provide an example of a company that uses each type of strategy.

Accepted Answer

In a single-product strategy, a company

Question 18

Formal business plans can be dangerous to the survival of new businesses; many who try them fail because of the resources required to write and agree upon the plan.

Accepted Answer

A) True 
 B)False

Question 19

An example of a firm that pursues a differentiation strategy is

Accepted Answer

A) Cartier. 
B) Lexus. 
C) Bic. 
D) A regional discount gas station chain. 
E) Home Depot. 
A) Cartier. 
B) Lexus. 
C) Bic. 
D) A regional discount gas station chain. 
E) Home Depot.

Question 20

Name the three common grand strategies and provide an example of how a company might use each.

Accepted Answer

There are the three common grand strateg

When analyzing the "W" in SWOT analysis, a manager might take note of

In a world of rapid and discontinuous change, the ability to please nonmanagerial employees has been called the golden trait among managers.

Amanda has just determined that her employees will require extensive training if they are to acquire the necessary technological expertise to produce a new product line.She has discovered one of her firm's

Oil companies must be aware of other firms' development of ethanol products since this is an example of which one force in Porter's model for industry analysis?

Which of the following strategy tools suggests that an organization will do better in fast-growing markets in which it has a high market share rather than in slow-growing markets in which it has a low market share?

Strategic planning is appropriate for large companies, but does not help the performance of small companies.

Effective strategic management involves

A mission statement should be ambitious.

Recently ConocoPhillips, America's third-biggest oil company, spun off its refineries, pipelines, and chemicals division to form a new company called Phillips 66.Now ConocoPhillips will concentrate on its upstream operations.This is a variation of which of these grand strategies?

Which of the following carmakers pursues a focused-differentiation strategy?

List at least five of the seven essential types of leader behaviors that are needed to fuel the engine of execution.

When analyzing the "T" in SWOT analysis, a manager might take note of

Burberry makes outerwear, accessories like umbrellas, and children's clothing, which is called a related diversification strategy.

A good vision statement should describe a company's major strengths and competitive advantage in its industry.

Planning is usually a straightjacket for new ideas, since it effectively blocks peripheral vision in favor of a predetermined course.

Synergy is one of the benefits of a single-product strategy.

Explain the positive and negative aspects of pursuing a single-product strategy versus a diversification one.Provide an example of a company that uses each type of strategy.

Formal business plans can be dangerous to the survival of new businesses; many who try them fail because of the resources required to write and agree upon the plan.

An example of a firm that pursues a differentiation strategy is

Name the three common grand strategies and provide an example of how a company might use each.

The Exceptional Manager: What You Do, How You Do It

Management Theory: Essential Background for the Successful Manager

The Managers Changing Work Environment and Ethical Responsibilities: Doing the Right Thing

Global Management: Managing Across Borders

Planning: the Foundation of Successful Management

Individual and Group Decision Making: How Managers Make Things Happen

Organizational Culture, Structure, and Design: Building Blocks of the Organization

Human Resource Management: Getting the Right People for Managerial Success

Organizational Change and Innovation: Lifelong Challenges for the Exceptional Manager

Managing Individual Differences and Behavior: Supervising People As People

Motivating Employees: Achieving Superior Performance in the Workplace

Groups and Teams: Increasing Cooperation, Reducing Conflict

Power, Influence, and Leadership: From Becoming a Manager to Becoming a Leader

Interpersonal Organizational Communication: Mastering the Exchange of Information

Control Systems and Quality Management: Techniques for Enhancing Organizational Effectiveness

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Exam 6: Strategic Management: How Exceptional Managers Realize a Grand Design

When analyzing the "W" in SWOT analysis, a manager might take note of

In a world of rapid and discontinuous change, the ability to please nonmanagerial employees has been called the golden trait among managers.

Amanda has just determined that her employees will require extensive training if they are to acquire the necessary technological expertise to produce a new product line.She has discovered one of her firm's

Oil companies must be aware of other firms' development of ethanol products since this is an example of which one force in Porter's model for industry analysis?

Which of the following strategy tools suggests that an organization will do better in fast-growing markets in which it has a high market share rather than in slow-growing markets in which it has a low market share?

Strategic planning is appropriate for large companies, but does not help the performance of small companies.

Effective strategic management involves

A mission statement should be ambitious.

Recently ConocoPhillips, America's third-biggest oil company, spun off its refineries, pipelines, and chemicals division to form a new company called Phillips 66.Now ConocoPhillips will concentrate on its upstream operations.This is a variation of which of these grand strategies?

Which of the following carmakers pursues a focused-differentiation strategy?

List at least five of the seven essential types of leader behaviors that are needed to fuel the engine of execution.

When analyzing the "T" in SWOT analysis, a manager might take note of

Burberry makes outerwear, accessories like umbrellas, and children's clothing, which is called a related diversification strategy.

A good vision statement should describe a company's major strengths and competitive advantage in its industry.

Planning is usually a straightjacket for new ideas, since it effectively blocks peripheral vision in favor of a predetermined course.

Synergy is one of the benefits of a single-product strategy.

Explain the positive and negative aspects of pursuing a single-product strategy versus a diversification one.Provide an example of a company that uses each type of strategy.

Formal business plans can be dangerous to the survival of new businesses; many who try them fail because of the resources required to write and agree upon the plan.

An example of a firm that pursues a differentiation strategy is

Name the three common grand strategies and provide an example of how a company might use each.

The Exceptional Manager: What You Do, How You Do It

Management Theory: Essential Background for the Successful Manager

The Managers Changing Work Environment and Ethical Responsibilities: Doing the Right Thing

Global Management: Managing Across Borders

Planning: the Foundation of Successful Management

Individual and Group Decision Making: How Managers Make Things Happen

Organizational Culture, Structure, and Design: Building Blocks of the Organization

Human Resource Management: Getting the Right People for Managerial Success

Organizational Change and Innovation: Lifelong Challenges for the Exceptional Manager

Managing Individual Differences and Behavior: Supervising People As People

Motivating Employees: Achieving Superior Performance in the Workplace

Groups and Teams: Increasing Cooperation, Reducing Conflict

Power, Influence, and Leadership: From Becoming a Manager to Becoming a Leader

Interpersonal Organizational Communication: Mastering the Exchange of Information

Control Systems and Quality Management: Techniques for Enhancing Organizational Effectiveness

Filters