Question 1

A department store consistently keeps low prices, and this strategy helps the store to attract many customers. This is an example of a strategic:

Accepted Answer

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

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

Strategic management is neither an art nor a science.

Accepted Answer

A) True 
 B)False

Question 4

A firm is bound to fail if it maintains flexibility in formulating strategies.

Accepted Answer

A) True 
 B)False

Question 5

There is only one single established method of conceptualizing the concept of strategy.

Accepted Answer

A) True 
 B)False

Question 6

All firms benefit equally in substantial performance improvements created by planning.

Accepted Answer

A) True 
 B)False

Question 7

Quattro is a pizza shop that delivers pizzas without any extra charge. It also refunds the entire amount of the order when the pizza was not delivered within 30 minutes from the order placement. After two years it stopped this policy, but it still delivers pizzas without any extra charge. The fact that it continues to deliver pizzas to households without any extra charge is an example of a _____ strategy.

Accepted Answer

A)  make over 
B)  non-realized 
C)  marked 
D)  deliberate 
E)  pre-termed

Question 8

Strategic management is described as being part science and part ______.

Accepted Answer

A)  accounting 
B)  art 
C)  philosophy 
D)  history 
E)  ethics

Question 9

Sometimes good strategies simply cannot overcome a stronger adversary.

Accepted Answer

A) True 
 B)False

Question 10

Explain the concept of strategy as perspective.

Accepted Answer

The answer of Explain the concept of strategy as perspective....

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

_____ involves an organization granting the right to use its brand name, products, and processes to other organizations in exchange for an upfront payment and a percentage of revenues generated by the other organizations.

Accepted Answer

A)  Differentiation 
B)  Positioning 
C)  Brand essence 
D)  Franchising 
E)  Comparative scaling

Question 14

Strategy formulation involves developing specific strategies and actions.

Accepted Answer

A) True 
 B)False

Question 15

A _____ strategy is the part of the intended strategy that an organization continues to pursue over time.

Accepted Answer

A)  marked 
B)  deliberate 
C)  make over 
D)  non-realized 
E)  pre-termed

Question 16

A(n) _____ fee refers to the upfront fee paid by an organization which gets the right to use another organization's brand name, products, and processes.

Accepted Answer

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

Question 17

A(n) _____ strategy is the strategy that an organization hopes to execute.

Accepted Answer

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

Question 18

Which of the following statements holds true for the book Strategy and Structure: Chapters in the History of the Industrial Enterprise?

Accepted Answer

A)  It stressed 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 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 19

Strategy as _____ refers to a firm's place in the industry relative to its competitors.

Accepted Answer

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

Question 20

The Hebrews leaving Egypt, the Greek soldiers inside of the Trojan Horse, and King Arthur's famous round table are all examples of:

Accepted Answer

A)  Historical Fables 
B)  Failed leadership 
C)  Modern strategic planning 
D)  Strategy in ancient times 
E)  Militant strategy

Exam 1: Mastering Strategy: Art and Science

A department store consistently keeps low prices, and this strategy helps the store to attract many customers. This is an example of a strategic:

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

Strategic management is neither an art nor a science.

A firm is bound to fail if it maintains flexibility in formulating strategies.

There is only one single established method of conceptualizing the concept of strategy.

All firms benefit equally in substantial performance improvements created by planning.

Strategic management is described as being part science and part ______.

Sometimes good strategies simply cannot overcome a stronger adversary.

Explain the concept of strategy as perspective.

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

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

_____ involves an organization granting the right to use its brand name, products, and processes to other organizations in exchange for an upfront payment and a percentage of revenues generated by the other organizations.

Strategy formulation involves developing specific strategies and actions.

A _____ strategy is the part of the intended strategy that an organization continues to pursue over time.

A(n) _____ fee refers to the upfront fee paid by an organization which gets the right to use another organization's brand name, products, and processes.

A(n) _____ strategy is the strategy that an organization hopes to execute.

Which of the following statements holds true for the book Strategy and Structure: Chapters in the History of the Industrial Enterprise?

Strategy as _____ refers to a firm's place in the industry relative to its competitors.

The Hebrews leaving Egypt, the Greek soldiers inside of the Trojan Horse, and King Arthur's famous round table are all examples of: