1
Which company experienced a tarnished reputation and scandal after experiencing behavior substitution when employees altered their behavior on the job to fit the reward system?
•
Saks
•
Neiman Marcus
•
Macy's
• Sears, Roebuck, & Co.
2
Which is the MOST commonly used measure of corporate performance (in terms of profit)?
•
EPS
•
ROE
•
DPS
ROI
•
3
Which strategy specifies the firm's overall direction in terms of its general orientation toward growth, the industries or markets in which it competes, and the manner in which it coordinates activities and transfers resources among business units?
•
Corporate
•
Functional
•
Divisional
•
Organizational
4
Which strategy is developed to pull together the various activities and competencies of each department so that corporate and business unit performance improves and resource productivity is maximized?
•
Competitive strategy
•
Functional strategy
•
Business strategy
•
Enterprise strategy
5
One reason environmental uncertainty is a threat to strategic managers is because
•
it forces the strategic manager to be reactive.
•
the strategic manager cannot control the environment.
•
it is a costly and consuming process.
•
it hampers their ability to develop long-range plans.
6
The concept that proposes private corporations have responsibilities to society that extend beyond making a profit is known as
•
flexible responsibility
•
social flexibility
•
social responsibility
•
managerial responsibility
7
In a survey of 50 corporations, which of the following was rated as a benefit of strategic management?
•
Higher levels of job satisfaction
•
Clearer sense of vision for the firm
•
Higher levels of employee motivation
•
Improved productivity
8
The strategy that deals with product and process innovation and improvement is known as a __________ strategy.
•
financial
•
marketing
•
R&D
•
operations
9
According to Porter, the corporation is most concerned with
•
the amount of pressure from the societal environment
•
the intensity of competition within its industry
•
the aggregate level of demand for a product line
•
a market's position on its life cycle
10
The relationship among the board of directors, top management, and shareholders is referred to as
•
corporate strategy
•
corporate synergy
•
corporate governance
•
corporate management
11
If performance data and activity reports indicate undesirable performance as a result of inappropriate use of the strategic management process, operational managers must
•
allow sufficient time to pass to verify if it is the process or just the usage that is the problem.
•
know about it so that they can correct the employee activity.
•
immediately notify the board of directors.
•
change the strategic management model.
12
When a company determines a competency's competitive advantage, Barney refers to this issue as
•
value
•
imitability
•
organization
•
rareness
13
Strategic planning in a multidivisional corporation
•
should be a formalized and sophisticated system.
•
should be accomplished quickly to decrease the likelihood of it becoming outdated.
•
should be instigated only from the main corporate office.
•
should encourage a clear delineation between top management and lower-level managers.
14
What question must managers ask concerning the relationship between economic logic and international strategy?
•
Which geographic areas will we enter?
•
Which international market-entry strategies will we use?
•
How does our international strategy contribute to the economic logic of our business and corporate strategies?
•
How does being international make our products more attractive to our customers?
15
The technique that illustrates how management can match the external opportunities and threats with its strengths and weaknesses to yield four sets of strategic alternatives is called a (an)
•
EFAS Table
•
IFAS Table
•
SFAS Table
•
TOWS Matrix
16
Who typically implements strategy in large, multi-industry corporations?
•
The board of directors
•
Middle management
•
First level management
•
Everyone in the organization
17
The process by which a firm approaches its cross-border activities and those of competitors, and plans to approach them in the future, is called
•
competitive strategy
•
international strategy
•
staging
•
cross-border configuration
18
Executives with a particular mix of skills and experiences may be classified as an executive type and paired with
•
a certain educational background
•
a specific experience background
•
a specific corporate strategy
•
a specific personal characteristic
19
Suboptimization occurs when
•
managers tend to focus more of their attentions on those aspects which are measurable than on those which are not
•
individuals are placed into positions not suited to their abilities
•
there is a failure to produce at or near full capacity
•
a division or functional unit views itself as a separate entity and refuses to cooperate with other divisions or units to the detriment of the organization as a whole
20
The sum total of the activities and choices required for the execution of a strategic plan is known as in
•
strategy implementation
•
environmental scanning
•
strategic formulation
•
evaluation and control
21
An acronym for the assessment of the external and internal environments of the business corporation in the process of strategy formulation/strategic planning is
•
M.B.O.
•
R.O.I.
•
S.B.U.
•
S.W.O.T.
22
The hiring of new people with new skills, firing of people with inappropriate or substandard skills, and/or training existing employees to learn new skills are included the process of
•
operating
•
staffing
•
training
•
structuring
23
According to the text, what is the "key" to effective management of change in culture?
•
Staffing
•
Communication
•
Evaluation
•
Operationalization
24
Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is
•
forecast-based planning
•
basic financial planning
•
externally-oriented planning
•
internally-oriented planning
25
Because of the belief that accounting-based numbers such as ROI, ROE, and EPS are not reliable indicators of a corporation's economic value, which method of corporate performance is now preferred?
•
Profit margin on sales
•
Basic earning power
•
Price/earnings ratio
•
Shareholder value
26
Who said that the social responsibility of business is a "fundamentally subversive doctrine" and that the one social responsibility of business is "to use its resources and engage in activities designed to increase its profits so long as it stays with the rules of the game..."?
•
Archie Carroll
•
Adam Smith
•
William C. Norris
•
Milton Friedman
27
The end result of activity is known as
•
performance
•
return on equity
•
gratuity
•
measurement
28
In the development of a SFAS matrix, the first step is to
•
list the most important EFAS and IFAS items
•
calculate the weighted scores
•
indicate short-term for the duration
•
enter the ratings of how the company's management is responding to each of the strategic factors
29
Continuous improvement is an operations concept developed in
•
Sweden
•
Germany
•
the United States
•
Japan
30
The strategy implementation tool used to determine what actions are going to be taken, by whom, during what time frame, and with what expected results is called a(n)
•
mission statement
•
action plan
•
MBO
•
succession plan
Which company experienced a tarnished reputation and scandal after experiencing behavior substitution when employees altered their behavior on the job to fit the reward system?
•
Saks
•
Neiman Marcus
•
Macy's
• Sears, Roebuck, & Co.
2
Which is the MOST commonly used measure of corporate performance (in terms of profit)?
•
EPS
•
ROE
•
DPS
ROI
•
3
Which strategy specifies the firm's overall direction in terms of its general orientation toward growth, the industries or markets in which it competes, and the manner in which it coordinates activities and transfers resources among business units?
•
Corporate
•
Functional
•
Divisional
•
Organizational
4
Which strategy is developed to pull together the various activities and competencies of each department so that corporate and business unit performance improves and resource productivity is maximized?
•
Competitive strategy
•
Functional strategy
•
Business strategy
•
Enterprise strategy
5
One reason environmental uncertainty is a threat to strategic managers is because
•
it forces the strategic manager to be reactive.
•
the strategic manager cannot control the environment.
•
it is a costly and consuming process.
•
it hampers their ability to develop long-range plans.
6
The concept that proposes private corporations have responsibilities to society that extend beyond making a profit is known as
•
flexible responsibility
•
social flexibility
•
social responsibility
•
managerial responsibility
7
In a survey of 50 corporations, which of the following was rated as a benefit of strategic management?
•
Higher levels of job satisfaction
•
Clearer sense of vision for the firm
•
Higher levels of employee motivation
•
Improved productivity
8
The strategy that deals with product and process innovation and improvement is known as a __________ strategy.
•
financial
•
marketing
•
R&D
•
operations
9
According to Porter, the corporation is most concerned with
•
the amount of pressure from the societal environment
•
the intensity of competition within its industry
•
the aggregate level of demand for a product line
•
a market's position on its life cycle
10
The relationship among the board of directors, top management, and shareholders is referred to as
•
corporate strategy
•
corporate synergy
•
corporate governance
•
corporate management
11
If performance data and activity reports indicate undesirable performance as a result of inappropriate use of the strategic management process, operational managers must
•
allow sufficient time to pass to verify if it is the process or just the usage that is the problem.
•
know about it so that they can correct the employee activity.
•
immediately notify the board of directors.
•
change the strategic management model.
12
When a company determines a competency's competitive advantage, Barney refers to this issue as
•
value
•
imitability
•
organization
•
rareness
13
Strategic planning in a multidivisional corporation
•
should be a formalized and sophisticated system.
•
should be accomplished quickly to decrease the likelihood of it becoming outdated.
•
should be instigated only from the main corporate office.
•
should encourage a clear delineation between top management and lower-level managers.
14
What question must managers ask concerning the relationship between economic logic and international strategy?
•
Which geographic areas will we enter?
•
Which international market-entry strategies will we use?
•
How does our international strategy contribute to the economic logic of our business and corporate strategies?
•
How does being international make our products more attractive to our customers?
15
The technique that illustrates how management can match the external opportunities and threats with its strengths and weaknesses to yield four sets of strategic alternatives is called a (an)
•
EFAS Table
•
IFAS Table
•
SFAS Table
•
TOWS Matrix
16
Who typically implements strategy in large, multi-industry corporations?
•
The board of directors
•
Middle management
•
First level management
•
Everyone in the organization
17
The process by which a firm approaches its cross-border activities and those of competitors, and plans to approach them in the future, is called
•
competitive strategy
•
international strategy
•
staging
•
cross-border configuration
18
Executives with a particular mix of skills and experiences may be classified as an executive type and paired with
•
a certain educational background
•
a specific experience background
•
a specific corporate strategy
•
a specific personal characteristic
19
Suboptimization occurs when
•
managers tend to focus more of their attentions on those aspects which are measurable than on those which are not
•
individuals are placed into positions not suited to their abilities
•
there is a failure to produce at or near full capacity
•
a division or functional unit views itself as a separate entity and refuses to cooperate with other divisions or units to the detriment of the organization as a whole
20
The sum total of the activities and choices required for the execution of a strategic plan is known as in
•
strategy implementation
•
environmental scanning
•
strategic formulation
•
evaluation and control
21
An acronym for the assessment of the external and internal environments of the business corporation in the process of strategy formulation/strategic planning is
•
M.B.O.
•
R.O.I.
•
S.B.U.
•
S.W.O.T.
22
The hiring of new people with new skills, firing of people with inappropriate or substandard skills, and/or training existing employees to learn new skills are included the process of
•
operating
•
staffing
•
training
•
structuring
23
According to the text, what is the "key" to effective management of change in culture?
•
Staffing
•
Communication
•
Evaluation
•
Operationalization
24
Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is
•
forecast-based planning
•
basic financial planning
•
externally-oriented planning
•
internally-oriented planning
25
Because of the belief that accounting-based numbers such as ROI, ROE, and EPS are not reliable indicators of a corporation's economic value, which method of corporate performance is now preferred?
•
Profit margin on sales
•
Basic earning power
•
Price/earnings ratio
•
Shareholder value
26
Who said that the social responsibility of business is a "fundamentally subversive doctrine" and that the one social responsibility of business is "to use its resources and engage in activities designed to increase its profits so long as it stays with the rules of the game..."?
•
Archie Carroll
•
Adam Smith
•
William C. Norris
•
Milton Friedman
27
The end result of activity is known as
•
performance
•
return on equity
•
gratuity
•
measurement
28
In the development of a SFAS matrix, the first step is to
•
list the most important EFAS and IFAS items
•
calculate the weighted scores
•
indicate short-term for the duration
•
enter the ratings of how the company's management is responding to each of the strategic factors
29
Continuous improvement is an operations concept developed in
•
Sweden
•
Germany
•
the United States
•
Japan
30
The strategy implementation tool used to determine what actions are going to be taken, by whom, during what time frame, and with what expected results is called a(n)
•
mission statement
•
action plan
•
MBO
•
succession plan
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