Strategic Management
The two main support processes in an organization are:
A. production systems and marketing systems.
B. procurement systems and HR systems.
C. financial accounting systems and HR systems.
D. information systems and financial accounting systems.
Question 2 of 40
________ strategies are the short-term goal-directed decisions and actions of the organization's various functional areas.
A. Competitive
B. Coordinating
C. Corporate
D. Functional
Question 3 of 40
One of the two strategic decisions most associated with the organization's information system is:
A. optimum equity mix.
B. creating an approved vendor list.
C. selecting the correct marketing mix.
D. the choice of system technology.
Question 4 of 40
Designing which of the following systems involves making sure we have the information we need, when the information is needed, and in the form needed?
A. Marketing
B. Human resources
C. Information
D. Financial-accounting
Question 5 of 40
If Mr. Carol wanted to introduce high-performance work practices in his organization, which of the following practices would he adopt?
A. Centralizeddecisionmaking
B. Fixedjobassignments
C. Limited communication
D. Self-managed work teams
Question 6 of 40
Ms. James has decided to use a computerized order taking and fulfillment system in the new location for her retail shop. She is demonstrating her ability to give attention to which of the following strategies?
A. Marketing
B. Human resources
C. Information
D. Financial-accounting
Question 7 of 40
Which of the following is NOT one of Miles and Snow's adaptive strategies?
A. Defender
B. Prospector
C. Cost leader
D. Analyzer
Question 8 of 40
An organization's ________ strategies reflect its commitment to and treatment of its employees.
A. procurement
B. corporate
C. HR
D. competitive
Question 9 of 40
________ refer(s) to the process of creating and providing goods and services.
A. Marketing
B. Production-operations
C. High-performance work practices
D. Information system
Question 10 of 40
When an organization competes by providing unique products with features that customers value, perceive as different, and are willing to pay a premium price for, it is using a strategy of:
A. costleadership.
B. focus.
C. differentiation.
D. niche.
Question 11 of 40
Which are the two biggest factors in marketing?
A. Competitors and pricing
B. Product and competitors
C. Customers and competitors
D. Pricing and customers
Question 12 of 40
The marketing mix is commonly known as the
A. 4Ps
B. 5Ps
C. 7Ss
D. 4Ss
Question 13 of 40
Which of the following is a possible production-operations management strategy?
A. Selectivespecialization
B. Inventory management systems
C. User positioning
D. Market logistics
Question 14 of 40
In Porter's cost leadership strategy, the main goal of the cost leader is to have the lowest ________ in the industry.
A. profits
B. prices
C. costs
D. products
Question 15 of 40
One factor that would lead to high-performance work practices is
A. usingcontingentpay.
B. forming problem-solving groups.
C. conductingattitude surveys.
D. All of the answer choices are correct.
Question 16 of 40
The role of top-level decision makers in the strategic management process is to:
A. establish the overall operational goals.
B. develop the overall goal that the organization hopes to achieve.
C. establishfunctionalstrategies.
D. supervise line managers.
Question 17 of 40
Product design strategies typically involve an organization's ________ functional area.
A. finance
B. R&D
C. accounting
D. HR
Question 18 of 40
The ________ strategy is one in which an organization continually innovates by finding and exploiting new product and market opportunities.
A. prospector
B. defender
C. analyzer
D. reactor
Question 19 of 40
The ________ point(s) to the strategic issues organizational decision makers need to address in their pursuit of sustainable competitive advantage and high levels of performance.
A. portfolioanalysis
B. distinctivecapabilities
C. strengths
D. SWOT analysis
Question 20 of 40
The ________ strategy is one in which an organization continually innovates by finding and exploiting new product and market opportunities.
A. prospector
B. defender
C. analyzer
D. reactor
Question 21 of 40
The organization's ability to complete or reach goals is referred to as:
A. efficiency.
B. effectiveness.
C. productivity.
D. stability.
Question 22 of 40
Examples of portfolio analyses include:
A. the BCG matrix.
B. the McKinsey-GE stoplight matrix.
C. the product-market evolution matrix.
D. All of the answer choices are correct.
Question 23 of 40
The types of renewal strategies include:
A. retrenchmentstrategy.
B. turnaroundstrategy.
C. diversificationstrategy.
D. retrenchment and turnaround strategies.
Question 24 of 40
The _______ strategy establishes the overall direction that the organization hopes to go.
A. business
B. functional
C. corporate
D. competitive
Question 25 of 40
Related diversification is ________ unrelated diversification.
A. less effectivethan
B. moreeffectivethan
C. just as effective as
D. less profitable than
Question 26 of 40
The ________ strategy is one in which the organization maintains its current size and current level of business operations.
A. stability
B. concentration
C. diversification
D. backwardintegration
Question 27 of 40
One of the risks associated with a horizontal integration strategy is:
A. a potential violation of antitrust laws.
B. exponentialgrowth.
C. increasedmarketexposure.
D. increase in sales.
Question 28 of 40
A business unit with low relative market share and low industry growth rate is referred to as a:
A. dog.
B. cash cow.
C. cat.
D. question mark.
Question 29 of 40
Coca-Cola is a ________ organization and PepsiCo is an example of a ________ organization.
A. multiple-business; single-business
B. single-business; multiple-business
C. multiple-business; multiple-business
D. All of the answer choices are correct.
Question 30 of 40
The main causes of corporate performance include all the following except:
A. inadequatefinancialcontrols.
B. uncontrollable costs or too high costs.
C. newcompetitors.
D. underexpansion or too slow growth.
Question 31 of 40
All of the following are reflective of restructuring efforts except:
A. spin-off.
B. liquidation.
C. reengineering.
D. costcutting.
Question 32 of 40
________ areusually "friendly."
A. Mergers
B. Acquisitions
C. Takeovers
D. Buyouts
Question 33 of 40
Which of the following is a type of strategic partnering?
A. Licensing
B. Exporting
C. Joint venture
D. Direct investment
Question 34 of 40
A paper manufacturer purchasing a forest of trees is an example of:
A. forward verticalintegration.
B. backwardverticalintegration.
C. product/marketexploitation.
D. productdevelopment.
Question 35 of 40
When an organization remains with its core industry, this is an example of a ________ strategy.
A. concentration
B. forward integration
C. backwardintegration
D. horizontalintegration
Question 36 of 40
Mr. Wilson, a successful importer of Italian furniture, is considering combining operations by exchanging stock with a competitor, Italian Delights, to create a new store, SupremoItaliano. Which of the following growth strategies is Mr. Wilson following here?
A. Merger
B. Acquisition
C. Hostiletakeover
D. Internaldevelopment
Question 37 of 40
One of the major disadvantages of the McKinsey matrix is that of:
A. simplicity.
B. uniqueness.
C. subjectivity.
D. All of the answer choices are correct.
Question 38 of 40
Both the product-market evolution and McKinsey matrices have the disadvantage of:
A. simplicity.
B. complexity.
C. individuality.
D. subjectivity.
Question 39 of 40
A company like PepsiCo, with a number of business units such as snack foods, beverages, and prepared foods, is referred to as a:
A. single-business organization.
B. multiple-business organization.
C. multiple-line organization.
D. multiple-functionorganization.
Question 40 of 40
Developing different uses for a product is an example of a ________ concentration option.
A. product-marketdiversification.
B. marketdevelopment
C. product-marketexploitation
D. productde
Part 2
Question 1 of 40
The two main support processes in an organization are:
A. production systems and marketing systems.
B. procurement systems and HR systems.
C. financial accounting systems and HR systems.
D. information systems and financial accounting systems.
Question 2 of 40
________ strategies are the short-term goal-directed decisions and actions of the organization's various functional areas.
A. Competitive
B. Coordinating
C. Corporate
D. Functional
Question 3 of 40
One of the two strategic decisions most associated with the organization's information system is:
A. optimum equity mix.
B. creating an approved vendor list.
C. selecting the correct marketing mix.
D. the choice of system technology.
Question 4 of 40
Designing which of the following systems involves making sure we have the information we need, when the information is needed, and in the form needed?
A. Marketing
B. Human resources
C. Information
D. Financial-accounting
Question 5 of 40
If Mr. Carol wanted to introduce high-performance work practices in his organization, which of the following practices would he adopt?
A. Centralizeddecisionmaking
B. Fixedjobassignments
C. Limited communication
D. Self-managed work teams
Question 6 of 40
Ms. James has decided to use a computerized order taking and fulfillment system in the new location for her retail shop. She is demonstrating her ability to give attention to which of the following strategies?
A. Marketing
B. Human resources
C. Information
D. Financial-accounting
Question 7 of 40
Which of the following is NOT one of Miles and Snow's adaptive strategies?
A. Defender
B. Prospector
C. Cost leader
D. Analyzer
Question 8 of 40
An organization's ________ strategies reflect its commitment to and treatment of its employees.
A. procurement
B. corporate
C. HR
D. competitive
Question 9 of 40
________ refer(s) to the process of creating and providing goods and services.
A. Marketing
B. Production-operations
C. High-performance work practices
D. Information system
Question 10 of 40
When an organization competes by providing unique products with features that customers value, perceive as different, and are willing to pay a premium price for, it is using a strategy of:
A. costleadership.
B. focus.
C. differentiation.
D. niche.
Question 11 of 40
Which are the two biggest factors in marketing?
A. Competitors and pricing
B. Product and competitors
C. Customers and competitors
D. Pricing and customers
Question 12 of 40
The marketing mix is commonly known as the
A. 4Ps
B. 5Ps
C. 7Ss
D. 4Ss
Question 13 of 40
Which of the following is a possible production-operations management strategy?
A. Selectivespecialization
B. Inventory management systems
C. User positioning
D. Market logistics
Question 14 of 40
In Porter's cost leadership strategy, the main goal of the cost leader is to have the lowest ________ in the industry.
A. profits
B. prices
C. costs
D. products
Question 15 of 40
One factor that would lead to high-performance work practices is
A. usingcontingentpay.
B. forming problem-solving groups.
C. conductingattitude surveys.
D. All of the answer choices are correct.
Question 16 of 40
The role of top-level decision makers in the strategic management process is to:
A. establish the overall operational goals.
B. develop the overall goal that the organization hopes to achieve.
C. establishfunctionalstrategies.
D. supervise line managers.
Question 17 of 40
Product design strategies typically involve an organization's ________ functional area.
A. finance
B. R&D
C. accounting
D. HR
Question 18 of 40
The ________ strategy is one in which an organization continually innovates by finding and exploiting new product and market opportunities.
A. prospector
B. defender
C. analyzer
D. reactor
Question 19 of 40
The ________ point(s) to the strategic issues organizational decision makers need to address in their pursuit of sustainable competitive advantage and high levels of performance.
A. portfolioanalysis
B. distinctivecapabilities
C. strengths
D. SWOT analysis
Question 20 of 40
The ________ strategy is one in which an organization continually innovates by finding and exploiting new product and market opportunities.
A. prospector
B. defender
C. analyzer
D. reactor
Question 21 of 40
The organization's ability to complete or reach goals is referred to as:
A. efficiency.
B. effectiveness.
C. productivity.
D. stability.
Question 22 of 40
Examples of portfolio analyses include:
A. the BCG matrix.
B. the McKinsey-GE stoplight matrix.
C. the product-market evolution matrix.
D. All of the answer choices are correct.
Question 23 of 40
The types of renewal strategies include:
A. retrenchmentstrategy.
B. turnaroundstrategy.
C. diversificationstrategy.
D. retrenchment and turnaround strategies.
Question 24 of 40
The _______ strategy establishes the overall direction that the organization hopes to go.
A. business
B. functional
C. corporate
D. competitive
Question 25 of 40
Related diversification is ________ unrelated diversification.
A. less effectivethan
B. moreeffectivethan
C. just as effective as
D. less profitable than
Question 26 of 40
The ________ strategy is one in which the organization maintains its current size and current level of business operations.
A. stability
B. concentration
C. diversification
D. backwardintegration
Question 27 of 40
One of the risks associated with a horizontal integration strategy is:
A. a potential violation of antitrust laws.
B. exponentialgrowth.
C. increasedmarketexposure.
D. increase in sales.
Question 28 of 40
A business unit with low relative market share and low industry growth rate is referred to as a:
A. dog.
B. cash cow.
C. cat.
D. question mark.
Question 29 of 40
Coca-Cola is a ________ organization and PepsiCo is an example of a ________ organization.
A. multiple-business; single-business
B. single-business; multiple-business
C. multiple-business; multiple-business
D. All of the answer choices are correct.
Question 30 of 40
The main causes of corporate performance include all the following except:
A. inadequatefinancialcontrols.
B. uncontrollable costs or too high costs.
C. newcompetitors.
D. underexpansion or too slow growth.
Question 31 of 40
All of the following are reflective of restructuring efforts except:
A. spin-off.
B. liquidation.
C. reengineering.
D. costcutting.
Question 32 of 40
________ areusually "friendly."
A. Mergers
B. Acquisitions
C. Takeovers
D. Buyouts
Question 33 of 40
Which of the following is a type of strategic partnering?
A. Licensing
B. Exporting
C. Joint venture
D. Direct investment
Question 34 of 40
A paper manufacturer purchasing a forest of trees is an example of:
A. forward verticalintegration.
B. backwardverticalintegration.
C. product/marketexploitation.
D. productdevelopment.
Question 35 of 40
When an organization remains with its core industry, this is an example of a ________ strategy.
A. concentration
B. forward integration
C. backwardintegration
D. horizontalintegration
Question 36 of 40
Mr. Wilson, a successful importer of Italian furniture, is considering combining operations by exchanging stock with a competitor, Italian Delights, to create a new store, SupremoItaliano. Which of the following growth strategies is Mr. Wilson following here?
A. Merger
B. Acquisition
C. Hostiletakeover
D. Internaldevelopment
Question 37 of 40
One of the major disadvantages of the McKinsey matrix is that of:
A. simplicity.
B. uniqueness.
C. subjectivity.
D. All of the answer choices are correct.
Question 38 of 40
Both the product-market evolution and McKinsey matrices have the disadvantage of:
A. simplicity.
B. complexity.
C. individuality.
D. subjectivity.
Question 39 of 40
A company like PepsiCo, with a number of business units such as snack foods, beverages, and prepared foods, is referred to as a:
A. single-business organization.
B. multiple-business organization.
C. multiple-line organization.
D. multiple-functionorganization.
Question 40 of 40
Developing different uses for a product is an example of a ________ concentration option.
A. product-marketdiversification.
B. marketdevelopment
C. product-marketexploitation
D. productdevelopment