Question 1

__________ identify activities to be undertaken now or in the immediate future.

Accepted Answer

A) Long-term tactics 
B) Business strategies 
C) Corporate strategies 
D) Functional tactics

Question 2

There is a weak correlation between earnings measures and shareholder wealth creation with the use of a:

Accepted Answer

A) Golden handcuffs plan 
B) Cash based plan 
C) Restricted stock plan 
D) Stock option grant

Question 3

Operating managers must establish short-term objectives and operating strategies that contribute to:

Accepted Answer

A) Business-level goals 
B) Corporate-level goals 
C) Goals toward diversification 
D) Specialization

Question 4

Business strategies,grand strategies,and ______ are critically important in crafting a successful future.

Accepted Answer

A) Long-term objectives 
B) Core rigidities 
C) Business units 
D) Functional hierarchies

Question 5

If X-Corp.'s car polish division has committed to a 30 percent gain in revenue over six years,they must consider the specific target in revenue during the current quarter to indicate they are making appropriate progress.This smaller objective for the fiscal quarter is called a:

Accepted Answer

A) Short-term objectives 
B) Short-term technique 
C) Long-term objective 
D) Strategic goal

Question 6

Which is NOT one of the differences between business strategies and functional tactics?

Accepted Answer

A) Reinforcement of the strategy 
B) Time horizon 
C) Specificity 
D) Participants who develop them

Question 7

Outsourcing starts for most firms with:

Accepted Answer

A) The outsourcing of production 
B) The outsourcing of the marketing function 
C) The outsourcing of payroll production 
D) The outsourcing of corporate strategy decisions

Question 8

The ______ significance of policies can vary.

Accepted Answer

A) visionary 
B) routine 
C) strategic 
D) important

Question 9

The strategic ________ of policies can vary.

Accepted Answer

A) Direction 
B) Plan 
C) Significance 
D) Advantage

Question 10

Discussion about and agreement on short-term objectives help raise issues and potential conflicts within an organization that usually:

Accepted Answer

A) Need little coordination 
B) Require additional personnel 
C) Focus on public relations 
D) Require organizational coordination

Question 11

To make business strategies,grand strategies and long-term objectives a reality,the people in an organization who ________ need guidance in exactly what they need to do.

Accepted Answer

A) "Do the work" 
B) Make corporate decisions 
C) Manage the business unit 
D) Compete

Question 12

Functional tactics translate thought (______)into action designed to accomplish specific short-term objectives.

Accepted Answer

A) policies 
B) mission 
C) vision 
D) grand strategy

Question 13

______ identify who is responsible for each action in the plan.

Accepted Answer

A) Action ideas 
B) Long-term objectives 
C) Action plans 
D) Policies

Question 14

One way operating managers _____ is through the use of policies.

Accepted Answer

A) outsource 
B) strategize 
C) politicize 
D) empower

Question 15

Short-term objectives assist strategy implementation by identifying measurable outcomes of action plans or functional activities,which can make feedback,correction and evaluation:

Accepted Answer

A) More relevant and acceptable 
B) More expensive 
C) More difficult 
D) More geared toward growth

Question 16

________ provide incentive for the executive to create wealth for shareholders as measured by increases in the firm's share price.

Accepted Answer

A) Stock option grants 
B) Golden handcuffs 
C) Golden parachutes 
D) Cash-based plans

Question 17

__________ obtaining work previously done by employees inside the companies from sources outside the company.

Accepted Answer

A) Specialization 
B) Fragmentation 
C) Outsourcing 
D) Acquisition or merging

Question 18

A firm seeking to globalize operations would use ________ as its bonus compensation plan.

Accepted Answer

A) Restricted stock plans 
B) Golden parachutes 
C) Golden handcuffs 
D) Stock options

Question 19

A common measure of _______ creation is appreciation of company stock price

Accepted Answer

A) shareholder wealth 
B) revenue 
C) sales 
D) job

Question 20

Policies are also sometimes called

Accepted Answer

A) standard operating procedures 
B) action plans 
C) functional tactics 
D) business strategy objectives

Exam 10: Implementation