Question 1

In performing a SWOT analysis, a furniture company realized that the number of competing firms in its industry was increasing.The company would classify this as a(n)

Accepted Answer

A)  strength.
B)  weakness.
C)  opportunity.
D)  threat.
E)  advantage. D

Question 2

_____ are essential because they enable managers to make midcourse corrections when the plan is no longer suitable for the current conditions.

Accepted Answer

A)  Standing plans
B)  Single-use plans
C)  Rolling plans
D)  Contingency plans
E)  Scenario plans C

Question 3

To determine an organization's missions and goals, managers must first

Accepted Answer

A)  perform a SWOT analysis.
B)  apply the five forces model.
C)  define its business.
D)  develop a long-term plan.
E)  develop a short-term plan. C

Question 4

It is impossible for an organization to have both low-cost and differentiated products.

Accepted Answer

A) True 
 B)False

Question 5

According to Henri Fayol, an effective plan should have four qualities, namely, unity, continuity, accuracy, and

Accepted Answer

A)  sustainability.
B)  flexibility.
C)  accountability.
D)  consistency.
E)  synergy.

Question 6

Define rolling plans, standing plans, and single-use plans.Provide examples of standing plans and single-use plans.

Accepted Answer

The answer of Define rolling plans, standing plans, and single-use...

Question 7

A(n) _____ is a group of related managerial decisions and actions to help an organization achieve one of its goals.

Accepted Answer

A)  strategy
B)  objective
C)  motto
D)  allocation
E)  accomplishment

Question 8

Differentiate global strategy from multidomestic strategy for a business and discuss the advantages and disadvantages of each strategy.

Accepted Answer

The answer of Differentiate global strategy from multidomestic strategy for...

Question 9

The mission statements of organizations in the same market will typically be the same.

Accepted Answer

A) True 
 B)False

Question 10

A brand of cereal attracts customers by offering the lowest prices among other brands of cereals.The company uses a differentiation strategy in this situation.

Accepted Answer

A) True 
 B)False

Question 11

A firm has a formal, written guide regarding its zero-tolerance attitude toward sexual harassment and the consequences of its violation.By definition, this is a _____ of the firm.

Accepted Answer

A)  standing plan
B)  mission statement
C)  policy
D)  rule
E)  norm

Question 12

With a _____ strategy, managers distinguish the organization's products from those of competitors on dimensions such as quality and product design.

Accepted Answer

A)  differentiation
B)  focused differentiation
C)  low-cost
D)  focused low-cost
E)  hypercompetition

Question 13

Managers at ANC Inc.operate with planning horizons greater than five years.The top managers are concerned about changing conditions in the external environment.It is difficult to predict competitive conditions five years in the future, so they implemented a plan that involves regular reviews and updates in all levels of the company.The plan enables the company to respond quickly and make adjustments as necessary.This is an example of a(n) _____ plan.

Accepted Answer

A)  short-term
B)  long-term
C)  intermediate-term
D)  rolling
E)  annual

Question 14

The method of international expansion which presents managers with many threats and is the most expensive due to the high level of foreign investment is the method of international expansion through

Accepted Answer

A)  joint ventures.
B)  exporting and importing.
C)  licensing.
D)  franchising.
E)  wholly owned foreign subsidiaries.

Question 15

________ is selling to a foreign organization the rights to use a brand name and operating know-how in return for a lump-sum payment and a share of the profits.

Accepted Answer

A)  Licensing
B)  Franchising
C)  Strategic alliance
D)  Exporting
E)  Importing

Question 16

Allocating appropriate resources to the responsible individuals or groups is the last step in implementing strategy.

Accepted Answer

A) True 
 B)False

Question 17

Though a company's netbook prices are higher than other netbooks with the same configuration, the company offers features that are exclusive only to its netbooks.The company is following a differentiation strategy.

Accepted Answer

A) True 
 B)False

Question 18

Differentiate between the main types of business-level strategies by explaining how they give an organization a competitive advantage.

Accepted Answer

The answer of Differentiate between the main types of business-level...

Question 19

According to Henri Fayol, _____ means that managers need to make every attempt to collect and use all available information in the organization's planning process.

Accepted Answer

A)  unity
B)  flexibility
C)  continuity
D)  accuracy
E)  synergy

Question 20

Nokia has established production operations in foreign countries to sell its phones in those regions.The production operations perform as separate entities without any local direct involvement.These production operations are _____ of Nokia.

Accepted Answer

A)  joint ventures
B)  acquisitions
C)  wholly owned foreign subsidiaries
D)  mergers
E)  hostile takeovers

Exam 8: The Manager As a Planner and a Strategist

In performing a SWOT analysis, a furniture company realized that the number of competing firms in its industry was increasing.The company would classify this as a(n)

_____ are essential because they enable managers to make midcourse corrections when the plan is no longer suitable for the current conditions.

To determine an organization's missions and goals, managers must first

It is impossible for an organization to have both low-cost and differentiated products.

According to Henri Fayol, an effective plan should have four qualities, namely, unity, continuity, accuracy, and

Define rolling plans, standing plans, and single-use plans.Provide examples of standing plans and single-use plans.

A(n) _____ is a group of related managerial decisions and actions to help an organization achieve one of its goals.

Differentiate global strategy from multidomestic strategy for a business and discuss the advantages and disadvantages of each strategy.

The mission statements of organizations in the same market will typically be the same.

A brand of cereal attracts customers by offering the lowest prices among other brands of cereals.The company uses a differentiation strategy in this situation.

A firm has a formal, written guide regarding its zero-tolerance attitude toward sexual harassment and the consequences of its violation.By definition, this is a _____ of the firm.

With a _____ strategy, managers distinguish the organization's products from those of competitors on dimensions such as quality and product design.

The method of international expansion which presents managers with many threats and is the most expensive due to the high level of foreign investment is the method of international expansion through

________ is selling to a foreign organization the rights to use a brand name and operating know-how in return for a lump-sum payment and a share of the profits.

Allocating appropriate resources to the responsible individuals or groups is the last step in implementing strategy.

Though a company's netbook prices are higher than other netbooks with the same configuration, the company offers features that are exclusive only to its netbooks.The company is following a differentiation strategy.

Differentiate between the main types of business-level strategies by explaining how they give an organization a competitive advantage.

According to Henri Fayol, _____ means that managers need to make every attempt to collect and use all available information in the organization's planning process.

Nokia has established production operations in foreign countries to sell its phones in those regions.The production operations perform as separate entities without any local direct involvement.These production operations are _____ of Nokia.