Practice Strategic Management Multiple Choice Questions Quiz-7

Q.1

Ben & Jerry had four market-product strategies to expand sales. They included (1) market penetration, (2) product development, (3) market development and:

current customer retention
defensive synergy
diversification
product simplification

Q.2

Aggregating prospective buyers into groups is called:

market categorization
market segmentation
modeling
BCG matrix analysis

Q.3

This is the last stage in the conflict management lifecycle.

Environmental scanning
Risk communication
Image restoration
Issues management

Q.4

What do you understand by the term 'a prospector organisation'?

An organisation that represents a good prospect for a firm looking to make an acquisition
An organisation with good growth prospects
An organisation that has recently been founded as an entrepreneurial start-up
An organisation that actively seeks new opportunities and change

Q.5

Business unit competencies should be distinctive enough to provide a(n):

clear understanding of who you want to lead the company
competitive advantage
opportunity to compete on a productivity basis
additional strategic mission

Q.6

TQM is a strategy that is designed to change the quality of a product to satisfy customer needs by using the concept of _________:

benchmarking
brainstorming
reverse brainstorming
product maintenance

Q.7

The business unit strategy has three major components:

mission, business, and SBU goals
marketing, advertising and pricing objectives
mission, business unit goals, and competencies
business mission, department mission, and daily plans

Q.8

cohesive marketing mix consists of the product, promotion, price, and

personnel
production
advertising
communication

Q.9

One key to effective implementation is setting:

schedule of events
deadlines
milestones
good managers in motion

Q.10

If an organization is to survive, which of the following is most essential?

Strong financial performance
Committed employees
High level of service
Customer retention

Q.11

The corporate level is where top management directs:

all employees for orientation
its efforts to stabilize recruitment needs
overall strategy for the entire organization
overall sales projections

Q.12

Value for shareholders of a firm is measured by:

customer comments
stock performance and profitability
sales revenue
satisfactory employee targets

Q.13

Which of the following is not a limitation of SWOT (Strengths, Weaknesses, Opportunity, Threats) analysis?

Organizational strengths may not lead to competitive advantage
SWOT gives a one-shot view of a moving target
SWOT's focus on the external environment is too broad and integrative
SWOT overemphasizes a single dimension of strategy

Q.14

A marketing department that promises delivery quicker than the production department's ability to produce is an example of a lack of understanding of the

synergy of the business units
need to maintain the reputation of the company
organizational culture and leadership
interrelationships among functional areas and firm strategies

Q.15

Firms may view growth opportunities in these terms:

Current markets and current products
Current and new markets, and current products
New markets and new products
Current and new markets, and current and new products

Q.16

The strategic marketing process is how an organization allocates its marketing mix resources to reach its:

stated business ideas
potential
target markets
competition

Q.17

An effective short-hand summary of the situation analysis is a:

BCG analysis
SWOT analysis
SBU analysis
Competition analysis

Q.18

Disney is in the business of:

theme parks or movies
creating entertainment, fun and fantasy
building theme parks
designing new imaginative characters

Q.19

The Holiday Inn, Burlington statement, "If a customer has a need or want, we fill it." is an example of a:

Business unit goals
Marketing objectives
Business unit mission
Goal of a business segment

Q.20

The three organizational levels are:

corporate level, business level, functional level
corporate level, business unit level, functional level
corporate strategy level, business unit level, functional level
corporate strategy level, business level, specialist level

Q.21

Cross-functional teams are:

a small group of people from the same department who work on projects together
a small group of people who come together to resolve business unit issues
a small group of specialists who collaborate on a task force
a small group of people from different departments who are mutually accountable to a common set of performance goals

Q.22

Which of the following elements of strategy affect the process of strategy creation and implementation?

Synergy
The strategic leader???s perspective on strategy
Structure
Strategic paradoxes

Q.23

Miles and Snow (1994) identify four main reasons for failure. Which of the following is one of those reasons?

Lack of competitive advantage
Lack of strategy competency
Lack of strategic resources
Poor judgement leading to poor, inappropriate strategic decisions

Q.24

A useful framework used to assess a company's investments/divisions is called:

unit production analysis
corporate insight analysis
company productivity analysis
business portfolio analysis

Q.25

Cash cows are SBU's that typically generate:

problems for product managers
paper losses in the long run
large awareness levels but few sales
a lot of competition

Q.26

How does Checkland (1981) describe an organization?

A collection of people who are trying to act with purpose
Systems that comprise a collection of people who are trying to act with purpose
A collection of people that act with little purpose
A collection of systems and functions, inclusive of its people

Q.27

How might an organization spot, create, and exploit new opportunities ahead of its rivals?

Through managers in the various businesses working together, sharing information and capabilities, helping each other, and creating synergy
Through managers in the various businesses sharing information, capabilities, and creating synergy
Through managers in the various businesses working together, sharing information, and sharing capabilities
Through managers in the various businesses working together to create strategic competencies for the organization in order to pursue opportunities

Q.28

Which of the following is not a competence recognized by Richardson and Thompson (1994)?

Strategic thinking
Managing paradoxes
Innovative climate
Providing excellent quality

Q.29

Which of the following is associated with successful strategies?

Creating superior value to customers
Exploitation of key success factors
Creating and maintaining strategic fit
All of the above

Q.30

Buyers market exist when:

few suppliers in the market
buyers purchases in small volume
buyers purchases in large volume
product of suppliers are unique and differentiated

Ben & Jerry had four market-product strategies to expand sales. They included (1) market penetration, (2) product development, (3) market development and:

Aggregating prospective buyers into groups is called:

This is the last stage in the conflict management lifecycle.

What do you understand by the term 'a prospector organisation'?

Business unit competencies should be distinctive enough to provide a(n):

TQM is a strategy that is designed to change the quality of a product to satisfy customer needs by using the concept of _________:

The business unit strategy has three major components:

cohesive marketing mix consists of the product, promotion, price, and

One key to effective implementation is setting:

If an organization is to survive, which of the following is most essential?

The corporate level is where top management directs:

Value for shareholders of a firm is measured by:

Which of the following is not a limitation of SWOT (Strengths, Weaknesses, Opportunity, Threats) analysis?

A marketing department that promises delivery quicker than the production department's ability to produce is an example of a lack of understanding of the

Firms may view growth opportunities in these terms:

The strategic marketing process is how an organization allocates its marketing mix resources to reach its:

An effective short-hand summary of the situation analysis is a:

Disney is in the business of:

The Holiday Inn, Burlington statement, "If a customer has a need or want, we fill it." is an example of a:

The three organizational levels are:

Cross-functional teams are:

Which of the following elements of strategy affect the process of strategy creation and implementation?

Miles and Snow (1994) identify four main reasons for failure. Which of the following is one of those reasons?

A useful framework used to assess a company's investments/divisions is called:

Cash cows are SBU's that typically generate:

How does Checkland (1981) describe an organization?

How might an organization spot, create, and exploit new opportunities ahead of its rivals?

Which of the following is not a competence recognized by Richardson and Thompson (1994)?

Which of the following is associated with successful strategies?

Buyers market exist when:

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