Question 1

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

Accepted Answer

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

Question 2

After the SWOT analysis is complete, managers are ready to ________.

Accepted Answer

A)  begin production 
B)  identify competitors 
C)  formulate strategies 
D)  review the analysis 
A)  begin production 
B)  identify competitors 
C)  formulate strategies 
D)  review the analysis

Question 3

Stars, one of the four business groups in the BCG matrix, are characterized by low growth and high market share.

Accepted Answer

A) True 
 B)False

Question 4

Computer peripherals provider Ascent plans to enter a new market in another country. Which one of the following represents a threat for Ascent?

Accepted Answer

A)  Ascent's profit margin in the previous year was its lowest on record and it will require long-term planning to improve margins. 
B)  Ascent lacks the resources to enter the market on its own and has to find a partner in the new market. 
C)  Ascent will have to plan its entry carefully as the laws in the country do not favor foreign businesses. 
D)  Ascent needs to improve its service capabilities in the new country as this is an important source of revenue. 
A)  Ascent's profit margin in the previous year was its lowest on record and it will require long-term planning to improve margins. 
B)  Ascent lacks the resources to enter the market on its own and has to find a partner in the new market. 
C)  Ascent will have to plan its entry carefully as the laws in the country do not favor foreign businesses. 
D)  Ascent needs to improve its service capabilities in the new country as this is an important source of revenue.

Question 5

Strategic management is not important for non-profit organizations because their focus is on providing a needed service, not on making a profit.

Accepted Answer

A) True 
 B)False

Question 6

Tom's Welding has been supplying frames to the mobile home industry for many years. His business has remained steady despite the entry of other firms into the industry. Tom's is likely pursuing a ________ strategy.

Accepted Answer

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

Question 7

A ________ strategy is when an organization expands the number of markets served or the products offered.

Accepted Answer

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

Question 8

Exceptional or unique organizational resources are known as core capabilities.

Accepted Answer

A) True 
 B)False

Question 9

Brutus' Fried Chicken patented the recipe for the spices used in the coating of the chicken. The patent protection lasts for 17 years. Brutus' Fried Chicken will view this patent protection as a(n) ________.

Accepted Answer

A)  threat until the patent expires 
B)  opportunity during the time of the patent protection 
C)  weakness because the patent cannot be renewed 
D)  cost of doing business 
A)  threat until the patent expires 
B)  opportunity during the time of the patent protection 
C)  weakness because the patent cannot be renewed 
D)  cost of doing business

Question 10

The final step in the strategic management process is implementing the objectives.

Accepted Answer

A) True 
 B)False

Question 11

Establishing a competitive advantage is important but insufficient. To be successful in the long term, firms must maintain that advantage.

Accepted Answer

A) True 
 B)False

Question 12

Top-level managers are responsible for ________ strategies.

Accepted Answer

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

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

Managers should "milk" cash cows for as much as they can, limit any new investment in them, and use the large amounts of cash generated to invest in ________ and ________.

Accepted Answer

A)  dogs; stars 
B)  cash cows; dogs 
C)  stars; question marks 
D)  question marks; dogs 
A)  dogs; stars 
B)  cash cows; dogs 
C)  stars; question marks 
D)  question marks; dogs

Question 15

A strategy defines how a company is going to make money.

Accepted Answer

A) True 
 B)False

Question 16

When conducting a SWOT analysis, threats are activities the organization doesn't do well or resources it needs but doesn't possess.

Accepted Answer

A) True 
 B)False

Question 17

The main reason strategic management is important is ________.

Accepted Answer

A)  it allows an organization to anticipate economic recessions 
B)  it can make a difference in how well an organization performs 
C)  it reduces uncertainty 
D)  it simplifies the environment 
A)  it allows an organization to anticipate economic recessions 
B)  it can make a difference in how well an organization performs 
C)  it reduces uncertainty 
D)  it simplifies the environment

Question 18

In the BCG matrix, a ________ has a low anticipated growth rate and a low market share.

Accepted Answer

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

Question 19

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

Accepted Answer

When an organization's corporate strateg

Question 20

How can an organization develop strategic flexibility?

Accepted Answer

A)  It should commit resources only after thorough planning. 
B)  It should ignore mistakes. 
C)  It should depend on tried and tested perspectives from senior employees. 
D)  It should have multiple alternatives when making strategic decisions. 
A)  It should commit resources only after thorough planning. 
B)  It should ignore mistakes. 
C)  It should depend on tried and tested perspectives from senior employees. 
D)  It should have multiple alternatives when making strategic decisions.

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

After the SWOT analysis is complete, managers are ready to ________.

Stars, one of the four business groups in the BCG matrix, are characterized by low growth and high market share.

Computer peripherals provider Ascent plans to enter a new market in another country. Which one of the following represents a threat for Ascent?

Strategic management is not important for non-profit organizations because their focus is on providing a needed service, not on making a profit.

Tom's Welding has been supplying frames to the mobile home industry for many years. His business has remained steady despite the entry of other firms into the industry. Tom's is likely pursuing a ________ strategy.

A ________ strategy is when an organization expands the number of markets served or the products offered.

Exceptional or unique organizational resources are known as core capabilities.

Brutus' Fried Chicken patented the recipe for the spices used in the coating of the chicken. The patent protection lasts for 17 years. Brutus' Fried Chicken will view this patent protection as a(n) ________.

The final step in the strategic management process is implementing the objectives.

Establishing a competitive advantage is important but insufficient. To be successful in the long term, firms must maintain that advantage.

Top-level managers are responsible for ________ strategies.

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

Managers should "milk" cash cows for as much as they can, limit any new investment in them, and use the large amounts of cash generated to invest in and .

A strategy defines how a company is going to make money.

When conducting a SWOT analysis, threats are activities the organization doesn't do well or resources it needs but doesn't possess.

The main reason strategic management is important is ________.

In the BCG matrix, a ________ has a low anticipated growth rate and a low market share.

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

How can an organization develop strategic flexibility?

Managers and You in the Workplace

Making Decisions

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

Entrepreneurial Ventures

Designing Organizational Structure

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

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

After the SWOT analysis is complete, managers are ready to ________.

Stars, one of the four business groups in the BCG matrix, are characterized by low growth and high market share.

Computer peripherals provider Ascent plans to enter a new market in another country. Which one of the following represents a threat for Ascent?

Strategic management is not important for non-profit organizations because their focus is on providing a needed service, not on making a profit.

Tom's Welding has been supplying frames to the mobile home industry for many years. His business has remained steady despite the entry of other firms into the industry. Tom's is likely pursuing a ________ strategy.

A ________ strategy is when an organization expands the number of markets served or the products offered.

Exceptional or unique organizational resources are known as core capabilities.

Brutus' Fried Chicken patented the recipe for the spices used in the coating of the chicken. The patent protection lasts for 17 years. Brutus' Fried Chicken will view this patent protection as a(n) ________.

The final step in the strategic management process is implementing the objectives.

Establishing a competitive advantage is important but insufficient. To be successful in the long term, firms must maintain that advantage.

Top-level managers are responsible for ________ strategies.

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

Managers should "milk" cash cows for as much as they can, limit any new investment in them, and use the large amounts of cash generated to invest in ________ and ________.

A strategy defines how a company is going to make money.

When conducting a SWOT analysis, threats are activities the organization doesn't do well or resources it needs but doesn't possess.

The main reason strategic management is important is ________.

In the BCG matrix, a ________ has a low anticipated growth rate and a low market share.

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

How can an organization develop strategic flexibility?

Managers and You in the Workplace

Making Decisions

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

Entrepreneurial Ventures

Designing Organizational Structure

Managing Human Resources

Creating and Managing Teams

Managing Communication

Understanding and Managing Individual Behavior

Motivating Employees

Being an Effective Leader

Monitoring and Controlling

Filters

Managers should "milk" cash cows for as much as they can, limit any new investment in them, and use the large amounts of cash generated to invest in and .