Question 1. Five management tasks used to develop strategic competencies do not include the following:
A. Strategic analysis
B. Manage multiple business units
C. Identify competitors
D. Develop a growth platform
Question 2. Strategic analysis includes:
A. Internal and external analysis
B. Strategic and analysis outputs
C. Implementing strategy
D. Adapting strategy
Question 3. Unmet consumer needs are important because:
A. Unmet need consumers are easier to sell to
B. Opportunities exist for firms to increase their profits
C. Opportunities exist for firms to increase their market share
D. Opportunities exist for firms to take business from
Question 4. In completing a checklist on competitor assets and competencies, some of the areas to be considered include all but one of the following:
A. Company culture
B. Innovation
C. Manufacturing
D. Strategic programming
Question 5. In addition to current competitors, it is important to consider potential market entrants such as firms that might engage in all but one of the following:
A. Retaliatory or defensive strategies
B. Market expansion
C. Forward integration
D. Low-cost strategies
Question 6. It is important to consider potential market entrants because these firms might engage in any of these activities EXCEPT :
A. Forward integration
B. Product expansion
C. Reorganization
D. Market expansion
Question 7. Porter's five factor model involves: the intensity of competition, competition among existing firms, threat of substitute products, bargaining power of suppliers, and
A. Power of the government
B. Power of the external market
C. Bargaining power of customers
D. Power of the environment
Question 8. Which of the following is not an indicator of market maturity or decline?
A. Predictions for high growth
B. Customer disinterest
C. Price pressure
D. Saturation
Question 9. Performance measures reflecting long-term profitability include all but one of the following:
A. Product/service quality
B. Customer satisfaction
C. Outsourcing ability
D. Relative cost
Question 10. All the following are guidelines for measuring customer satisfaction except...
A. Identify causes of dissatisfaction that motivate customers to change brands
B. Evaluate the lifetime value of customer to the product
C. Track measures and compare to competitors
D. Differentiate between dissatisfaction and dislike of product
Question 11. All of the following are ways to increase shareholder value EXCEPT:
A. Invest in products that are low risk
B. Reduce the cost of capital by increasing debt to equity ratio
C. Earn more profit by reducing costs
D. Increase revenue without using more capital
Question 12. To successfully manage a strategic commitment, a firm should have four characteristics. Which of the following is not one of the four?
A. Senior management with MBAs
B. Buy-in throughout the organization
C. Assets, competencies, and resources to implement it
Question 13. Which of the following is not one of the three philosophies of developing strategy?
A. Strategic drift
B. Strategic opportunism
C. Strategic adaptability
D. Strategic commitment
Question 14. The value proposition of "Corporate Social Programs" focuses upon:
A. A firm's products and services
B. Customer's social concerns
C. A firm's social concerns
D. Profitability
Question 15. A firm that follows a superior quality strategy:
A. Makes the highest quality products possible
B. Make products that consistently meet the quality requirements of customers
C. Make products that are statistically better than the competition
D. Rely on their quality control function for product quality
Question 16. The experience or learning curve
A. Describes how quickly people learn at different jobs
B. Compares learning rates by consumers in different markets
C. Explains the value of producing additional units of products
D. Compares unit cost with cumulative output
Question 17. You have been given the task to evaluate a market opportunity for a firm. Give specific examples of the dimensions you would use to determine the attractiveness of a given market.
Question 18. Describe and give examples of a well-developed business strategy including the four characteristics.