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Management
Q:
In the context of SWOT analysis, which of the following would be considered as an organization's strength?
a. Exiting competitors
b. High overhead costs
c. Favorable government policies
d. Motivated employees
e. High employee turnover rate
Q:
The starting point in formulating strategies is usually:
a. SWOT analysis.
b. resource deployment.
c. divesting.
d. deskilling.
e. contingency analysis.
Q:
_____ refers to the methods bywhich strategies areoperationalized orexecuted within theorganization; itfocuses on theprocesses throughwhich strategies areachieved.
a. Strategy implementation
b. Strategy mapping
c. Strategy formulation
d. Strategy visualization
e. Strategy conceptualization
Q:
The set of processes for determining the strategies that will be used by an organization is known as:
a. strategy implementation.
b. environmental scanning.
c. strategy formulation.
d. divesting.
e. deskilling.
Q:
_____ strategy is the set of strategic alternatives from which anorganization chooses as it operates in a particular industry or market.
a. Business-level
b. Corporate-level
c. Operational-level
d. Divestiture
e. Anti-competitive
Q:
_____ strategy is the set of strategic alternatives from which an organizationchooses as it manages its operations simultaneously across several industries andseveral markets.
a. Corporate-level
b. Business-level
c. Operational-level
d. Divestiture
e. Anti-competitive
Q:
Which of the following questions that companies consider is most closely related to the resource deployment component of a strategy?
a. How much money should we invest in our business units overseas?
b. What are the markets in which we can compete?
c. What are the preferences of our customers?
d. Who are our competitors?
e. How can we make our products more unique in a way that they stand out?
Q:
The choices a firm makes as to where and how much to invest reflect issues of _____.
a. value migration
b. distinctive competencies
c. resource deployment
d. deskilling
e. industrial symbiosis
Q:
Alba Motorbikes is known for its heavyweight motorcycles. The company places emphasis on the quality of the bikes and after-sale service. The brand also enjoys customer loyalty. This scenario described Alba Motorbikes':
a. distinctive competence.
b. scope.
c. process gain.
d. competitive disadvantage.
e. related diversification.
Q:
_____ is the set of strategicalternatives that helps an organization focus its competitive efforts for each industry or marketin a targeted and focused manner.
a. Anti-competitive strategy
b. Divestiture strategy
c. Corporate-level strategy
d. Business-level strategy
e. Operational-level strategy
Q:
A(n) _____ is a comprehensive plan for accomplishing an organization's goals.
a. scope
b. competence
c. strategy
d. article of incorporation
e. statement of qualification
Q:
Zing Inc. is a large fashion brand that manufactures clothing and shoes. The top managers of Zing have decided to use the profits from its clothing outlets to invest in the shoes business. This scenario illustrates the _____ component of a strategy.
a. resource deployment
b. scope
c. distinctive competence
d. process loss
e. divestiture
Q:
_____ is away of approachingbusinessopportunities andchallenges.
a. Supply-chain management
b. Value migration
c. Self-dealing
d. Strategic management
e. Greenwashing
Q:
Gadgetbug Inc. is known for its extremely efficient after-purchase service. None of Gadgetbug's competitors provide the same kind of customer service. Gadgetbug's _____ is described in the scenario.
a. scope
b. divestiture strategy
c. strategic limitation
d. process loss
e. distinctive competence
Q:
The _____ is the component of a strategy that specifies the range of markets in which an organization willcompete.
a. divestiture
b. competency
c. scope
d. resource deployment
e. deskilling
Q:
Operational goals are set by:
a. first-line managers.
b. top-level managers.
c. the board of directors.
d. shareholders.
e. investors.
Q:
Tactical goals are set by:
a. first-line managers.
b. middle managers.
c. assembly-line managers.
d. stockholders.
e. investors.
Q:
_____ plans have a short-term focus and are relatively narrow in scope.
a. Corporate
b. Tactical
c. Operational
d. Contingency
e. Strategic
Q:
A difference between tactical and strategic plans is that:
a. tactical plans have a more concrete focus.
b. tactical plans are set for and by the board of directors.
c. tactical plans have broader time horizons.
d. strategic plans are developed by first-line managers.
e. strategic plans deal with the day-to-day operations of an organization.
Q:
Venus Corp. is a large corporation with many strategic business units. The top managers and board of directors are reviewing the performance of the business units to estimate the amount of resources that each unit will require in the next few years. The plan created for allocation of resources among the business units of Venus would be a(n) _____ plan.
a. strategic
b. tactical
c. operational
d. contingency
e. recovery
Q:
_____ plans generally have an extended time horizon, and address questions of scope, resource deployment, competitive advantage, and synergy.
a. Operational
b. Contingency
c. Recovery
d. Tactical
e. Strategic
Q:
A(n) _____ plan is a general plan outlining decisions about resource allocation, priorities, and action steps necessary to reach the goals set by the top managers.
a. recovery
b. contingency
c. operational
d. tactical
e. strategic
Q:
The top managers of Dietizza, a large low-fat pizza chain, plan to increase the profitability of all its outlets by 15 percent in a period of two years. This is a(n) _____ goal.
a. tactical
b. operational
c. nonspecific
d. divestiture
e. strategic
Q:
A(n) ____ goal for a waste management plant could be "to develop a recycling campaign for rural communities of less than 1000 customers." It would develop naturally out of a strategic goal "to increase recycling by 10% everywhere."
a. strategic
b. departmental
c. functional
d. divestiture
e. tactical
Q:
The top managers at Redd Inc. are developing a plan to reduce the production costs of the company. By reducing costs, Redd wants to gain a competitive advantage of cost leadership. The plan being developed in this scenario is a(n) _____ plan.
a. strategic
b. tactical
c. operational
d. contingency
e. recovery
Q:
Which of the following statements is true about tactical goals?
a. Their focus is on how to operationalize actions necessaryto achieve strategic goals.
b. Their focus is on broad and long-term issues such as increasing the profitability of the organization over a period of time.
c. They are set for and by top managers.
d. They are set for and by the board of directors.
e. They are broad and nonspecific.
Q:
Samantha is responsible for building the day-to-day work schedules for her subordinates. She assigns specific tasks to her subordinates and designs activities according to the objectives that she receives from her seniors. Samantha works on _____ plans.
a. operational
b. organizational
c. strategic
d. divestiture
e. tactical
Q:
Goals set for and by line-managers are called _____ goals.
a. strategic
b. tactical
c. developmental
d. organizational
e. operational
Q:
Strategic goals are set by:
a. first-line managers.
b. middle managers.
c. top managers.
d. stockholders.
e. consumers.
Q:
Which of the following statements is true about strategic goals?
a. They are set by an organization's middle managers.
b. They are set by first-line managers.
c. They provide plans for the day-to-day operations of an organization.
d. They focus on broad and general issues.
e. Their focus is on short-term issues.
Q:
Nutrimax Inc. identifies its purpose as "to produce the finest cookies in the world while upholding our principles of promoting good health and maintaining environmental sustainability." This purpose is most likely to be the _____ of Nutrimax.
a. strategic goal
b. distinctive competence
c. mission statement
d. operational goal
e. tactical goal
Q:
Anorganization's _____ is a statement of its fundamental, unique purpose that sets a businessapart from other firms of its type and identifies the scope of the business's operationsin product and market terms.
a. mission
b. statement of qualification
c. article of incorporation
d. operational goal
e. tactical plan
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.a. Single-product strategyb. Related diversificationc. Unrelated diversificationThe Trump organization owns real estate, vodka production, and beauty pageants among other things.
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.a. Single-product strategyb. Related diversificationc. Unrelated diversificationUSAA provides insurance, financial services, mortgages, and relocation assistance.
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.a. Single-product strategyb. Related diversificationc. Unrelated diversificationMcDonald's owns and franchises fast-food restaurants.
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.a. Single-product strategyb. Related diversificationc. Unrelated diversificationPepsi has three divisions: soft drinks, juices, and snacks.
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.You are contemplating opening a dry cleaning business in a commuter town. Assess the following information using SWOT analysis.a. Distinctive competenceb. Resource deploymentc. Scoped. SynergyHow the organization distributes its resources across various areas
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.You are contemplating opening a dry cleaning business in a commuter town. Assess the following information using SWOT analysis.a. Distinctive competenceb. Resource deploymentc. Scoped. SynergyWhen a company's combined economic value of its businesses is greater than the sum of their separate economic value
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.You are contemplating opening a dry cleaning business in a commuter town. Assess the following information using SWOT analysis.a. Distinctive competenceb. Resource deploymentc. Scoped. SynergySomething the organization is very good at doing
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.You are contemplating opening a dry cleaning business in a commuter town. Assess the following information using SWOT analysis.a. Distinctive competenceb. Resource deploymentc. Scoped. SynergyHow the organization uses its people and money
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.You are contemplating opening a dry cleaning business in a commuter town. Assess the following information using SWOT analysis.a. Distinctive competenceb. Resource deploymentc. Scoped. SynergyRange of markets in which the organization competes
Q:
Discuss the advantages and disadvantages of unrelated diversification strategy.
Q:
Describe how the concept of product life cycle could be used as a framework for plotting different strategies over the life of a product.
Q:
Describe each of Porter's three generic business-level strategies.
Q:
If an organization is facing an unexpected disruption or if its current plans are rendered inappropriate by surprising events, then it can still maintain some control by implementing its _____ plans.
Q:
Pilots have a check list they use to pre-flight an aircraft. This is an example of a(n) _____.
Q:
According to the GE Business Screen, businesses with a low industry attractiveness and poor competitive position are called _____.
Q:
Trump Corporation owns hotels and casinos, the Miss Universe Pageant, and bottled water. It is engaged in _____ diversification.
Q:
Understanding the stages in the _____ helps managers recognize that strategies need to evolve over time.
Q:
A(n) _____ strategy helps the organization focus on its operations simultaneously across several industries and several markets.
Q:
A standing plan that outlines the steps to be followed in a particular circumstance is called a(n):
a. standard operating procedure.
b. single-use plan.
c. program.
d. contingency plan.
e. project
Q:
How an organization distributes its resources across the areas in which it competes is called _____.
Q:
A(n) _____ is a comprehensive plan for accomplishing an organization's goals.
Q:
The mid-range plans developed by middle managers to aid the organization in achieving its strategic goals are called _____ plans.
Q:
An organization's fundamental purpose is stated in the organization's _____.
Q:
Libra Travels LLC. has a few back-up buses at key locations where the business operates. This is to be prepared in case any of its day-tour buses break down. This is an example of a:
a. project.
b. program.
c. regulation.
d. single-use plan.
e. contingency plan.
Q:
Relish has a chain of outlets that sells baked products. Relish requires all its employees to complete a month's training before they could work in the kitchen. This is an example of a:
a. standard operating procedure.
b. contingency plan.
c. regulation
d. policy.
e. standing plans.
Q:
Venus Corp. prohibits its employees from smoking in its premises. This is an example of a(n):
a. standard operating procedure
b. rule
c. program
d. entropy
e. project
Q:
The narrowest of the standing plans, _____describe exactly how specific activities are to be carried out.
a. standard operating procedures
b. projects and programs
c. rules and regulations
d. contingency theories
e. crisis management procedures
Q:
A _____ is the most general form of standingplan that specifies the organization's general response to a designated problem or situation.
a. project
b. standard operating procedure
c. policy
d. program
e. single-use plan
Q:
_____ planning refers to the determination ofalternative coursesof action to be takenif an intended plan isunexpectedlydisrupted orrenderedinappropriate.
a. Divestiture
b. Deskilling
c. Synergy
d. Contingency
e. Entropy
Q:
A(n) _____ is a single-use plan for a large set of activities. It might consistof identifying procedures for introducing a new product line, opening a new facility, orchanging the organization's mission.
a. policy
b. entropy
c. regulation
d. project
e. program
Q:
Which of the following statements is true about a tactical plan?
a. It is an organized sequence of stepsdesigned to execute strategic plans.
b. It is exclusively developed by the board of directors.
c. It is more broad and nonspecific when compared to a strategic plan.
d. It is developed independently of the external business environment.
e. It does not specify time frames and resources.
Q:
In contrast to strategic plans, tactical plans must:
a. specify resources and time frames.
b. be developed independently of the internal business environment.
c. be developed independently of the external business environment.
d. be more general and broadly based.
e. focus on resources, environment, and mission.
Q:
In the context of the GE Business Screen matrix, _____ is a determinant of the competitive position of a company.
a. intensity of competition
b. government policies
c. market size
d. market growth
e. market share
Q:
Which of the following is a determinant of an organization's competitive position in the context of the GE Business Screen?
a. Government policies
b. Market size
c. Technological know-how
d. Capital requirements
e. Market growth
Q:
In the context of the GE Business Screen, a determinant of industry attractiveness would be:
a. capital requirements.
b. product quality.
c. service network.
d. price competitiveness.
e. market share.
Q:
Firms that implement a strategy of _____ operate multiple businessesthat are not logically associated with one another.
a. single-business unit
b. unrelated diversification
c. entropy
d. nondiversification
e. synergy
Q:
Pursuing a strategy of _____ reduces an organization's dependence on any one of its business activities and thus reduces economic risk.
a. single-product
b. single-service
c. divestiture
d. related diversification
e. trade restraint
Q:
In the context of the GE Business Screen, a determinant of an organization's competitive position is:
a. capital requirements.
b. market growth.
c. government policies.
d. market size.
e. product quality.
Q:
In the GE Business Screen matrix, which of the following determines the competitive position of the company?
a. Market size
b. Market growth
c. Price competitiveness
d. Capital requirements
e. Competitive intensity
Q:
In the GE Business Screen matrix, which of the following is a determinant of industry attractiveness?
a. Market share
b. Market size
c. Product quality
d. Operating costs
e. Service network
Q:
In the GE Business Screen portfolio management technique, businesses that have good competitive position in an attractive industry are known as:
a. losers.
b. winners.
c. profit producers.
d. question marks.
e. cash cows.
Q:
The _____ is a portfolio management technique that considers industry attractiveness and competitive position rather than focusing solely on market growth and market share.
a. Black-Litterman model
b. modern portfolio theory
c. growth-share matrix
d. BCG matrix
e. GE Business Screen
Q:
In a BCG matrix, _____are businesses that have a large share of a market that is not expected togrow substantially.
a. stars
b. cash cows
c. entropies
d. question marks
e. dogs
Q:
In the context of the BCG matrix, _____ are businesses that have the largestshare of a rapidly growing market.
a. question marks
b. stars
c. cows
d. dogs
e. entropies
Q:
In a BCG matrix, _____ are businesses that havea very small share of a market that is not expected to grow.
a. question marks
b. cows
c. stars
d. dogs
e. rate busters
Q:
In a Boston Consulting Group (BCG) matrix, _____are businesses that have only a small share of a quickly growing market.
a. stars
b. question marks
c. entropies
d. dogs
e. cash cows
Q:
_____ techniques are methodsthat diversified organizations use to determine in which businesses to engage and how tomanage these businesses to maximize corporate performance.
a. Divestiture
b. Portfolio management
c. Process gain
d. Deskilling
e. Entropy
Q:
Aries Inc. manufactures dairy products and detergents.This is an example of _____ diversification.
a. horizontal
b. unrelated
c. single-product
d. concentric
e. related