Question 1

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 2

A _____ strategy refers to the parts of the intended strategy that are abandoned.

Accepted Answer

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

Question 3

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 4

What is environmental and internal scanning?

Accepted Answer

The answer of What is environmental and internal scanning?...

Question 5

Executives who make assumptions about what an adversary can and cannot do put their organizations' performance in jeopardy.

Accepted Answer

A) True 
 B)False

Question 6

Quattro is a pizza shop that delivers pizzas without any extra charge.It also refunded 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 7

Which two pivotal events that took place in 1980 led to the establishment of strategic management as a field of study?

Accepted Answer

A) The publication of the books, The World is Flat: A Brief History of the Twenty-First Century and Strategy and Structure: Chapters in the History of the Industrial Enterprise 
B) The creation of the New England Journal and the publication of The World is Flat: A Brief History of the Twenty-First Century 
C) The publication of The Principles of Scientific Management and the "capstone" course recommended The Ford Foundation 
D) The creation of the Strategic Management Journal and the publication of Competitive Strategy: Techniques for Analyzing Industries and Competitors 
E) The publication of Strategy and Structure: Chapters in the History of the Industrial Enterprise and the release of The Ford Foundation report recommending the "capstone" course

Question 8

A strategic _____ is a carefully crafted set of steps that a firm intends to follow in order to be successful.

Accepted Answer

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

Question 9

Strategy as _____ refers to how executives interpret the competitive landscape around them.

Accepted Answer

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

Question 10

Unexpected twists and turns in the external as well as the internal environment place limits on the value of strategic planning.

Accepted Answer

A) True 
 B)False

Question 11

Strategy is a complex concept that involves many different processes and activities within an organization.

Accepted Answer

A) True 
 B)False

Question 12

Explain the concept of economies of scale.Give an example.

Accepted Answer

The answer of Explain the concept of economies of scale.Give...

Question 13

_____ published a book titled The Principles of Scientific Management.

Accepted Answer

A) Michael Porter 
B) Frederick W.Taylor 
C) Niccolò Machiavelli 
D) Thomas Friedman 
E) Alfred Chandler

Question 14

Explain Sun Tzu's idea that winning a battle without fighting is the best way to win with an example.

Accepted Answer

The answer of Explain Sun Tzu's idea that winning a...

Question 15

Sometimes good strategies simply cannot overcome a stronger adversary.

Accepted Answer

A) True 
 B)False

Question 16

Dormer is the only fine dining restaurant in a small town.The opening of a new restaurant is viewed as a threat by some of the employees at Dormer.Others see it as an opportunity for Dormer to strengthen itself by looking out for its weaknesses and ironing them out.This is an example of strategy as:

Accepted Answer

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

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

Alfred Chandler's book focused on:

Accepted Answer

A) the SWOT analysis. 
B) the principles of scientific management. 
C) the Five Forces Analysis. 
D) international competition and the flat world. 
E) strategy and structure.

Question 19

_____ 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 20

The book "The Principles of Scientific Management" _____.

Accepted Answer

A) stressed on how strategy and organizational structure need to be consistent with each other in order to ensure strong firm performance 
B) offered concepts such as Five Forces Analysis and Generic Strategies that continue to strongly influence how executives choose strategies 
C) stressed on how organizations could become more efficient through identifying the "one best way" of performing important tasks 
D) 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) emphasized student's critical thinking skills in general and the notion that multiple ways of addressing a problem could be equally successful in particular

Exam 1: Mastering Strategy: Art and Science

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

A _____ strategy refers to the parts of the intended strategy that are abandoned.

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

What is environmental and internal scanning?

Executives who make assumptions about what an adversary can and cannot do put their organizations' performance in jeopardy.

Which two pivotal events that took place in 1980 led to the establishment of strategic management as a field of study?

A strategic _____ is a carefully crafted set of steps that a firm intends to follow in order to be successful.

Strategy as _____ refers to how executives interpret the competitive landscape around them.

Unexpected twists and turns in the external as well as the internal environment place limits on the value of strategic planning.

Strategy is a complex concept that involves many different processes and activities within an organization.

Explain the concept of economies of scale.Give an example.

_____ published a book titled The Principles of Scientific Management.

Explain Sun Tzu's idea that winning a battle without fighting is the best way to win with an example.

Sometimes good strategies simply cannot overcome a stronger adversary.

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

Alfred Chandler's book focused on:

_____ 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.

The book "The Principles of Scientific Management" _____.