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Management
Strategic Management
Quiz 11
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Q.1
Which of the following is a force in the Porter's five forces model of industry attractiveness?
opportunity for new entrants
opportunity for substitutes
bargaining power of suppliers
sustainable competitive advantage for customers
Q.2
Which one of the following is not a future pattern identified by Courtney et al. (1997)
A limited and definable number of discrete alternatives which can be evaluated and judged by strategic managers
A limited and definable number of alternatives which cannot be evaluated nor judged with any great certainty
A limited but undefinable number of discrete alternatives which can be evaluated and judged
A limited but undefinable number of discrete alternatives that cannot be evaluated nor judged at all
Q.3
An example of a core competency of a firm is
the corporate reputation
communicating with customers in their own languages worldwide
developing least squared exemptions within its accounting system
evaluating tangible and intangible assets
Q.4
Which of the following is not an element of strategic thinking?
Judge what strategic changes to make
Realize what needs to change
Understanding current strategic positions
Manage organizational resources and competencies
Q.5
_________ strategy determines what businesses an organization should be in
Business
Organizational
Operational
Corporate
Q.6
Which of the following is not a recognized area of opportunity for developing synergy?
Functional
Processual
Strategic
Managerial
Q.7
Which one of the following is not one of the elements of strategic thinking described by Campbell and Alexander (1997)?
Organizational culture
Outlining of competencies
Future-gazing
Organizational behavior
Q.8
Functional level strategy directly supports
corporate strategy
business strategy
differentiation strategy
focus strategy
Q.9
What is the most appropriate method of categorizing stakeholders?
Relative power only
Relative level of interest only
Relative power and interest
Relative power, interest, and amount of stock held
Q.10
Which of the following is one of the four key elements which must be adhered to if synergy is to be achieved?
Efficiency
Competitive strategies
Customer satisfaction
Effective leadership
Q.11
An organization that is diversifying its product line is exhibiting what type of growth strategy?
stability
retrenchment
growth
maintenance
Q.12
______ is the collection of managerial decisions and actions that determine the long-run performance of an organization
planning
goal-oriented management
strategic management
leadership
Q.13
The merging of analysis of internal and external factors influencing the organizations strategy is known as
complete studies
organizational behavior and theory
definitional analysis
SWOT analysis
Q.14
In Ansoff's matrix, product development involves going in the direction of
present products to present markets
present products to new markets
new products to present markets
new products to new markets
Q.15
Which of these questions is not addressed by an effective business model?
What do customers value today?
Who are our customers?
What does the organization produce?
None of the above All are essential questions for effective business models
Q.16
International business transactions include
all commercial transactions between two or more countries
private, but not governmental, commercial transactions between two or more countries
governmental, but not private, commercial transactions between two or more countries
only commercial transactions between two or more countries that are entered for the purpose of making a profit
Q.17
What is monopoly power?
When an organization has absolute power in its chosen marketplace
When an organization has power over its immediate rivals in its chosen marketplace
When an organization has limited power in its chosen marketplace
When an organization buys out another organization and assumes power of its share of the marketplace
Q.18
Which of the following statements best describes scenario planning?
Exploring future possibilities by looking at potential outcomes from particular causes and seeking to explain why things might occur
Considering three likely scenarios for future developments, and devising a strategy according to the likeliest outcome
Helping managers come to terms with the threats and opportunities within the company by devising a possible scenario to eliminate the threats and capitalize on the opportunities
Planning the best way to secure the scenario outcome that would benefit the company most
Q.19
A stability strategy is particularly appropriate when
the firm is facing rapid growth opportunities
the industry is in a state of rapid upheaval
an organization is not meeting its goals
an organizations performance is declining
Q.20
What is synergy?
When the organization is providing a product to the customer that perfectly suits their requirements
When the parts of an organization are combined and managed in such a way that the drawbacks exceed those which would result if the parts were operating separately
When the parts of an organization are combined and managed in such a way that the benefits exceed those which would result if the parts were operating separately
When the parts of an organization are combined and managed in such a way to reduce costs
Q.21
What is Kelloggs main challenge for the future:
To create new products for a market that is both growing and declining according to geography whilst generating enough cash to advertise and launch new products
To create new products for a market that is both growing and declining according to geography
To create new products for a market that has the same tastes, whilst generating enough cash to advertise and launch new products
To not become adversely affected by increased competition again and adapt to changing customer tastes
Q.22
Which one of the following is not a form of non-price competition?
Branding
Innovation
Advertising
None All of the above increase non-price competition
Q.23
Why is strategic management important?
It has little impact on organizational performance
It is involved in many of the decisions that managers make
Most organizations do not change
Organizations are composed of similar divisions and functions
Q.24
Which one of the following is not an aspect of the MOST analysis
Mission
Strategies
Tactics
Organization
Q.25
Which of the following would you not expect to see in a vision statement?
Descriptions of desirable future situations
Motivational terminology
Focus on the values to which the organization is committed
What the organization seeks to do to reach desirable future states
Q.26
What are the decisions and actions that determine long-run performance of an organization?
strategies
missions
goals
opportunities
Q.27
Which of the following does Campbell (1989) suggest to be a dimension of valuable mission statements?
Differentiates the business from competitors
States the objectives of the organization
Meaningful and relevant to stakeholders
States the values of the organization
Q.28
The acronym SWOT stands for
Special Weapons for Operations Timeliness
Services, Worldwide Optimization and Transport
Strengths, Weakness, Opportunities and Threats
None of the above
Q.29
Which of the following statements best describes strategic management?
A process consisting of determining objectives and strategic actions to achieve those objectives
A process consisting of determining objectives, strategic actions to achieve those objectives, the implementation of desired strategy, and the monitoring of that strategy
A process consisting of the determination of direction, strategic actions to achieve objectives, the implementation of desired strategy, and monitoring of that strategy
A process for determining direction, strategic actions to achieve objectives, and the implementation of desired strategy
Q.30
Which of the following is a key external factors that should be taken into account by a corporate strategy?
economic conditions
political conditions
legal environments
competition
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