Question 1

Firms must evaluate their own resources to understand how they might react to changes in the environment.

Accepted Answer

A) True 
 B)False

Question 2

The book, "The Principles of Scientific Management," was a response to Taylor's observation that most tasks within organizations were organized in a haphazard way.

Accepted Answer

A) True 
 B)False

Question 3

What is the "capstone" course as recommended by The Ford Foundation?

Accepted Answer

A widely-circulated report created by Th

Question 4

Myshirts.com, a company that manufactures shirts, buys large batches of dressing material from a supplier.The supplier charges them less than what Myshirts.com would have had to pay if it had purchased the material from different sources.As a consequence, the cost of manufacturing each shirt at Myshirts.com is lower than at other manufacturers.This is an example of economies of:

Accepted Answer

A) scale. 
B) demand. 
C) scope. 
D) brand. 
E) integration. 
A) scale. 
B) demand. 
C) scope. 
D) brand. 
E) integration.

Question 5

Realized strategies are a product of a firm's intended strategy, the firm's deliberate strategy, and its emergent strategy.

Accepted Answer

A) True 
 B)False

Question 6

Strategic management involves a single conceptualization of the concept of strategy drawn from recent history.

Accepted Answer

A) True 
 B)False

Question 7

Strategy as _____ focuses on the extent to which a firm's actions over time are consistent.

Accepted Answer

A) pattern 
B) perspective 
C) ploy 
D) plan 
E) position 
A) pattern 
B) perspective 
C) ploy 
D) plan 
E) position

Question 8

Strategic ploys can be especially beneficial when facing much stronger opponents.

Accepted Answer

A) True 
 B)False

Question 9

Marty's, a clothing company, has a number of outlets that are owned and managed by private individuals.These outlets are allowed to use the brand name and products of Marty's after paying a fee to the company.They also pay a part of their revenues to Marty's.The upfront payment these outlets make to Marty's for using the Marty's brand name is referred to as a(n):

Accepted Answer

A) acceptance fee. 
B) acknowledgement fee. 
C) franchise fee. 
D) royalty fee. 
E) establishment fee. 
A) acceptance fee. 
B) acknowledgement fee. 
C) franchise fee. 
D) royalty fee. 
E) establishment fee.

Question 10

Which of the following statements holds true for the "capstone" course recommended by The Ford Foundation?

Accepted Answer

A) It stressed on how strategy and organizational structure need to be consistent with each other in order to ensure strong firm performance. 
B) It offered concepts such as Five Forces Analysis and Generic Strategies that continue to strongly influence how executives choose strategies. 
C) It stressed on how organizations could become more efficient through identifying the "one best way" of performing important tasks. 
D) It argued that many of the advantages that firms in developed countries like the United States, Japan, and Great Britain take for granted are disappearing. 
E) It emphasized student's critical thinking skills in general and the notion that multiple ways of addressing a problem could be equally successful in particular. 
A) It stressed on how strategy and organizational structure need to be consistent with each other in order to ensure strong firm performance. 
B) It offered concepts such as Five Forces Analysis and Generic Strategies that continue to strongly influence how executives choose strategies. 
C) It stressed on how organizations could become more efficient through identifying the "one best way" of performing important tasks. 
D) It argued that many of the advantages that firms in developed countries like the United States, Japan, and Great Britain take for granted are disappearing. 
E) It emphasized student's critical thinking skills in general and the notion that multiple ways of addressing a problem could be equally successful in particular.

Question 11

Most strategic ploys are illegal.

Accepted Answer

A) True 
 B)False

Question 12

A pizza shop plans to deliver pizzas to households.The delivery would be made without any extra charge.It hopes to execute this strategy in the suburbs.This is an example of a(n) _____ strategy.

Accepted Answer

A) marked 
B) pre-termed 
C) intended 
D) realized 
E) emergent 
A) marked 
B) pre-termed 
C) intended 
D) realized 
E) emergent

Question 13

An organization which gets the right to use another organization's brand name, products, and processes is referred to as a _____.

Accepted Answer

A) legatee 
B) franchisee 
C) bailee 
D) bailer 
E) franchisor 
A) legatee 
B) franchisee 
C) bailee 
D) bailer 
E) franchisor

Question 14

A(n) _____ strategy is the strategy that an organization actually follows.

Accepted Answer

A) established 
B) marked 
C) pre-termed 
D) arranged 
E) realized 
A) established 
B) marked 
C) pre-termed 
D) arranged 
E) realized

Question 15

The history of strategic management can be traced back several thousand years.

Accepted Answer

A) True 
 B)False

Question 16

A coffee chain was losing its customers to its competitors, and wanted to increase its sales.Therefore it started offering complimentary pastries with every cup of coffee, to outwit its competitors.Soon, the company registered an increase in its sales.This is an example of a strategic:

Accepted Answer

A) ploy. 
B) plan. 
C) position. 
D) pattern. 
E) perspective. 
A) ploy. 
B) plan. 
C) position. 
D) pattern. 
E) perspective.

Question 17

The idea of "stratego," from which the word strategy is derived, refers to the idea of defeating an enemy by effectively using resources.

Accepted Answer

A) True 
 B)False

Question 18

Explain the concept of strategy as perspective.

Accepted Answer

Strategy as perspective shifts the focus

Question 19

Pizzas at Home, a pizza shop, plans to deliver pizzas to households.Deliveries would be made without any extra charge.It put this plan in place.its plans to good effect.Soon, Pizzas at Home realizes it must start charging a nominal fee for delivery.Many other pizzerias start following the same strategy.Pizzas at Home then starts offering free pizzas if they are not delivered within 30 minutes of the order placement.The strategy followed by Pizzas at Home is an example of a(n) _____ strategy.

Accepted Answer

A) marked 
B) pre-termed 
C) established 
D) realized 
E) arranged 
A) marked 
B) pre-termed 
C) established 
D) realized 
E) arranged

Question 20

A strategic _____ is a specific move designed to outwit or trick competitors.

Accepted Answer

A) pattern 
B) perspective 
C) ploy 
D) plan 
E) position 
A) pattern 
B) perspective 
C) ploy 
D) plan 
E) position

Firms must evaluate their own resources to understand how they might react to changes in the environment.

The book, "The Principles of Scientific Management," was a response to Taylor's observation that most tasks within organizations were organized in a haphazard way.

What is the "capstone" course as recommended by The Ford Foundation?

Realized strategies are a product of a firm's intended strategy, the firm's deliberate strategy, and its emergent strategy.

Strategic management involves a single conceptualization of the concept of strategy drawn from recent history.

Strategy as _____ focuses on the extent to which a firm's actions over time are consistent.

Strategic ploys can be especially beneficial when facing much stronger opponents.

Which of the following statements holds true for the "capstone" course recommended by The Ford Foundation?

Most strategic ploys are illegal.

A pizza shop plans to deliver pizzas to households.The delivery would be made without any extra charge.It hopes to execute this strategy in the suburbs.This is an example of a(n) _____ strategy.

An organization which gets the right to use another organization's brand name, products, and processes is referred to as a _____.

A(n) _____ strategy is the strategy that an organization actually follows.

The history of strategic management can be traced back several thousand years.

A coffee chain was losing its customers to its competitors, and wanted to increase its sales.Therefore it started offering complimentary pastries with every cup of coffee, to outwit its competitors.Soon, the company registered an increase in its sales.This is an example of a strategic:

The idea of "stratego," from which the word strategy is derived, refers to the idea of defeating an enemy by effectively using resources.

Explain the concept of strategy as perspective.

A strategic _____ is a specific move designed to outwit or trick competitors.

Leading Strategically

Evaluating the External Environment

Managing Company Resources

Selecting Business-Level Strategies

Supporting the Business-Level Strategy: Competitive and Cooperative Moves

Competing in International Markets

Selecting Corporate-Level Strategies

Executing Strategy Through Organizational Design

Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility

Filters

Exam 1: Mastering Strategy: Art and Science

Firms must evaluate their own resources to understand how they might react to changes in the environment.

The book, "The Principles of Scientific Management," was a response to Taylor's observation that most tasks within organizations were organized in a haphazard way.

What is the "capstone" course as recommended by The Ford Foundation?

Realized strategies are a product of a firm's intended strategy, the firm's deliberate strategy, and its emergent strategy.

Strategic management involves a single conceptualization of the concept of strategy drawn from recent history.

Strategy as _____ focuses on the extent to which a firm's actions over time are consistent.

Strategic ploys can be especially beneficial when facing much stronger opponents.

Which of the following statements holds true for the "capstone" course recommended by The Ford Foundation?

Most strategic ploys are illegal.

A pizza shop plans to deliver pizzas to households.The delivery would be made without any extra charge.It hopes to execute this strategy in the suburbs.This is an example of a(n) _____ strategy.

An organization which gets the right to use another organization's brand name, products, and processes is referred to as a _____.

A(n) _____ strategy is the strategy that an organization actually follows.

The history of strategic management can be traced back several thousand years.

A coffee chain was losing its customers to its competitors, and wanted to increase its sales.Therefore it started offering complimentary pastries with every cup of coffee, to outwit its competitors.Soon, the company registered an increase in its sales.This is an example of a strategic:

The idea of "stratego," from which the word strategy is derived, refers to the idea of defeating an enemy by effectively using resources.

Explain the concept of strategy as perspective.

A strategic _____ is a specific move designed to outwit or trick competitors.

Leading Strategically

Evaluating the External Environment

Managing Company Resources

Selecting Business-Level Strategies

Supporting the Business-Level Strategy: Competitive and Cooperative Moves

Competing in International Markets

Selecting Corporate-Level Strategies

Executing Strategy Through Organizational Design

Leading an Ethical Organization: Corporate Governance, Corporate Ethics, and Social Responsibility

Filters