Question 1

Functional-level strategy directly supports the ________.

Accepted Answer

A) corporate strategy 
B) competitive strategy 
C) operating strategy 
D) concentration strategy 
A) corporate strategy 
B) competitive strategy 
C) operating strategy 
D) concentration strategy B

Question 2

Activities that an organization does well or resources that it has available are called capabilities.

Accepted Answer

A) True 
 B)False  False

Question 3

Discuss the corporate portfolio matrix and the Boston Consulting Group (BCG)matrix.

Accepted Answer

When an organization's corporate strategy encompasses a number of businesses,managers can manage this collection,or portfolio,of businesses using a tool called a corporate portfolio matrix.This matrix provides a framework for understanding diverse businesses and helps managers establish priorities for allocating resources.The first portfolio matrix-the BCG matrix-was developed by the Boston Consulting Group and introduced the idea that an organization's various businesses could be evaluated and plotted using a 2 × 2 matrix to identify which ones offered high potential and which were a drain on organizational resources.The horizontal axis represents market share (low or high)and the vertical axis indicates anticipated market growth (low or high).A business unit is evaluated using a SWOT analysis and placed in one of the four categories: dogs,cash cows,stars,and question marks.a.Dogs - They should be sold off or liquidated as they have low market share in markets with low growth potential.b.Cash Cows - These have low anticipated growth rate but high market share.Managers should "milk" them for as much as they can,limit any new investment in them,and use the large amounts of cash generated to invest in stars and question marks with strong potential to improve market share.c.Stars - These have high anticipated growth rate and high market share.Heavy investment in stars will help take advantage of the market's growth and help maintain high market share.The stars eventually develop into cash cows as their markets mature and sales growth slows.d.Question Marks - These have high anticipated growth rate but low market share.The hardest decision for managers relates to the question marks.After careful analysis,some will be sold off and others strategically nurtured into stars.

Question 4

Discuss the methods by which an organization grows.Give relevant examples.

Accepted Answer

Organizations grow by using concentratio

Question 5

Explain the term "first mover" and then list some of the advantages and disadvantages of being a first mover in the market.

Accepted Answer

An organization that is first to bring a

Question 6

Organizations grow by using strategies of ________.

Accepted Answer

A) concentration,integration,or diversification 
B) concentration,integration,or stabilization 
C) integration,diversification,or differentiation 
D) integration,diversification,or functionalization 
A) concentration,integration,or diversification 
B) concentration,integration,or stabilization 
C) integration,diversification,or differentiation 
D) integration,diversification,or functionalization

Question 7

A turnaround strategy is a type of renewal strategy used when an organization is in serious trouble.

Accepted Answer

A) True 
 B)False

Question 8

Bella Vista Clothing targets teenage girls with a range of affordable ready-to-wear clothing.The company is opening two new outlets,as sales have been excellent.Which of the following represents a strength for the company?

Accepted Answer

A) The company's in-house designers have a knack for identifying and popularizing fashion trends. 
B) Disposable income is rising and consumers will have more money to spend on clothes. 
C) Bella Vista has excess production capacity. 
D) A long-time competitor recently went out of business and Bella Vista can cut down on its advertising budget. 
A) The company's in-house designers have a knack for identifying and popularizing fashion trends. 
B) Disposable income is rising and consumers will have more money to spend on clothes. 
C) Bella Vista has excess production capacity. 
D) A long-time competitor recently went out of business and Bella Vista can cut down on its advertising budget.

Question 9

A ________ strategy determines what businesses a company is in or wants to be in,and what it wants to do with those businesses.

Accepted Answer

A) competitive 
B) functional 
C) focus 
D) corporate 
A) competitive 
B) functional 
C) focus 
D) corporate

Question 10

When an organization continues serving the same clients by offering the same product or service,maintaining market share,and sustaining the organization's current business operations,it is following a ________ strategy.

Accepted Answer

A) renewal 
B) stability 
C) retrenchment 
D) turnaround 
A) renewal 
B) stability 
C) retrenchment 
D) turnaround

Question 11

A ________ strategy is used to deal with minor performance problems.It helps an organization stabilize operations,revitalize organizational resources and capabilities,and prepare to compete once again.

Accepted Answer

A) turnaround 
B) stability 
C) renewal 
D) retrenchment 
A) turnaround 
B) stability 
C) renewal 
D) retrenchment

Question 12

Within an organization,the single independent businesses that formulate their own competitive strategies are known as strategic business units.

Accepted Answer

A) True 
 B)False

Question 13

Joe's Hardware bought Moe's hardware on the other side of town.This is an example of ________.

Accepted Answer

A) backward integration 
B) forward integration 
C) lateral integration 
D) horizontal integration 
A) backward integration 
B) forward integration 
C) lateral integration 
D) horizontal integration

Question 14

Evaluating an organization's intangible assets is part of conducting an internal analysis in the strategic management process.

Accepted Answer

A) True 
 B)False

Question 15

In the BCG matrix,a business unit that has a high anticipated growth rate but a low market share is known as a ________.

Accepted Answer

A) star 
B) dog 
C) cash cow 
D) question mark 
A) star 
B) dog 
C) cash cow 
D) question mark

Question 16

________ should be sold off or liquidated as they have low market share and low growth potential.

Accepted Answer

A) Cash cows 
B) Stars 
C) Question marks 
D) Dogs 
A) Cash cows 
B) Stars 
C) Question marks 
D) Dogs

Question 17

Managers using the strategic management process always achieve positive outcomes.

Accepted Answer

A) True 
 B)False

Question 18

________ are positive trends in the external environment.

Accepted Answer

A) Strengths 
B) Threats 
C) Weaknesses 
D) Opportunities 
A) Strengths 
B) Threats 
C) Weaknesses 
D) Opportunities

Question 19

Discuss the concept of competitive advantage and explain how quality is a competitive advantage.

Accepted Answer

In order to develop an effective competi

Question 20

In the BCG matrix,a ________ enjoys a high anticipated growth rate and a high market share.

Accepted Answer

A) question mark 
B) star 
C) cash cow 
D) dog 
A) question mark 
B) star 
C) cash cow 
D) dog

Functional-level strategy directly supports the ________.

Activities that an organization does well or resources that it has available are called capabilities.

Discuss the corporate portfolio matrix and the Boston Consulting Group (BCG)matrix.

Discuss the methods by which an organization grows.Give relevant examples.

Explain the term "first mover" and then list some of the advantages and disadvantages of being a first mover in the market.

Organizations grow by using strategies of ________.

A turnaround strategy is a type of renewal strategy used when an organization is in serious trouble.

Bella Vista Clothing targets teenage girls with a range of affordable ready-to-wear clothing.The company is opening two new outlets,as sales have been excellent.Which of the following represents a strength for the company?

A ________ strategy determines what businesses a company is in or wants to be in,and what it wants to do with those businesses.

When an organization continues serving the same clients by offering the same product or service,maintaining market share,and sustaining the organization's current business operations,it is following a ________ strategy.

A ________ strategy is used to deal with minor performance problems.It helps an organization stabilize operations,revitalize organizational resources and capabilities,and prepare to compete once again.

Within an organization,the single independent businesses that formulate their own competitive strategies are known as strategic business units.

Joe's Hardware bought Moe's hardware on the other side of town.This is an example of ________.

Evaluating an organization's intangible assets is part of conducting an internal analysis in the strategic management process.

In the BCG matrix,a business unit that has a high anticipated growth rate but a low market share is known as a ________.

________ should be sold off or liquidated as they have low market share and low growth potential.

Managers using the strategic management process always achieve positive outcomes.

________ are positive trends in the external environment.

Discuss the concept of competitive advantage and explain how quality is a competitive advantage.

In the BCG matrix,a ________ enjoys a high anticipated growth rate and a high market share.

Managers in the Workplace

Managers As Decision Makers

Managing the External Environment and the Organizations Culture

Managing in a Global Environment

Managing Diversity

Managing Social Responsibility and Ethics

Managing Change and Innovation

Planning Work Activities

Designing Organizational Structure - Basic Designs

Designing Organizational - Structure Adaptive Design

Managing Human Resources

Creating and Managing Teams

Managing Communication

Understanding and Managing Individual Behavior

Motivating Employees

Being an Effective Leader

Monitoring and Controlling

Filters

Exam 9: Managing Strategy

Functional-level strategy directly supports the ________.

Activities that an organization does well or resources that it has available are called capabilities.

Discuss the corporate portfolio matrix and the Boston Consulting Group (BCG)matrix.

Discuss the methods by which an organization grows.Give relevant examples.

Explain the term "first mover" and then list some of the advantages and disadvantages of being a first mover in the market.

Organizations grow by using strategies of ________.

A turnaround strategy is a type of renewal strategy used when an organization is in serious trouble.

Bella Vista Clothing targets teenage girls with a range of affordable ready-to-wear clothing.The company is opening two new outlets,as sales have been excellent.Which of the following represents a strength for the company?

A ________ strategy determines what businesses a company is in or wants to be in,and what it wants to do with those businesses.

When an organization continues serving the same clients by offering the same product or service,maintaining market share,and sustaining the organization's current business operations,it is following a ________ strategy.

A ________ strategy is used to deal with minor performance problems.It helps an organization stabilize operations,revitalize organizational resources and capabilities,and prepare to compete once again.

Within an organization,the single independent businesses that formulate their own competitive strategies are known as strategic business units.

Joe's Hardware bought Moe's hardware on the other side of town.This is an example of ________.

Evaluating an organization's intangible assets is part of conducting an internal analysis in the strategic management process.

In the BCG matrix,a business unit that has a high anticipated growth rate but a low market share is known as a ________.

________ should be sold off or liquidated as they have low market share and low growth potential.

Managers using the strategic management process always achieve positive outcomes.

________ are positive trends in the external environment.

Discuss the concept of competitive advantage and explain how quality is a competitive advantage.

In the BCG matrix,a ________ enjoys a high anticipated growth rate and a high market share.

Managers in the Workplace

Managers As Decision Makers

Managing the External Environment and the Organizations Culture

Managing in a Global Environment

Managing Diversity

Managing Social Responsibility and Ethics

Managing Change and Innovation

Planning Work Activities

Designing Organizational Structure - Basic Designs

Designing Organizational - Structure Adaptive Design

Managing Human Resources

Creating and Managing Teams

Managing Communication

Understanding and Managing Individual Behavior

Motivating Employees

Being an Effective Leader

Monitoring and Controlling

Filters