BU470 Online Exam 1
Question-1
__________ involves how a corporation uses its resources and protects stakeholders' interests.
A. Financial oversight
B. Corporate governance
C. Steering committee focus
D. Corporate counsel
Question-2
The emergence of strategic planning and strategic management dates back to the __________, when researchers began looking for explanations of organizational differences in performance and functioning.
A. 1950s
B. 1960s
C. 1970s
D. 1980s
Question-3
__________ strategies are goal-directed plans and actions of the organization's functional areas.
A. Situational
B. Business
C. Competitive
D. Operational
Question-4
Strategic __________ is the ability to anticipate, envision, maintain flexibility, think strategically, and work with others in the organization to initiate changes that will create a viable and valuable future for the organization.
A. awareness
B. leadership
C. thinking
D. control
Question-5
The board of directors in an organization:
A. plays a significant role in corporate governance.
B. is responsible for the implementation of the organization's operating activities.
C. serves in the role of executive management.
D. is not an important part of the organization's strategic development.
Question-6
In the development of strategic management as a discipline, Alfred Chandler wrote the book:
A. Corporate Strategy.
B. The Teflon Leader.
C. The Pursuit of Excellence.
D. Strategy and Structure.
Question-7
Section 404 of the Sarbanes-Oxley Act deals with the establishment and auditing of:
A. external financial controls.
B. internal financial controls.
C. appointment of the CEO.
D. appointment of Board members.
Question-8
One issue considered in developing corporate strategies is:
A. What competition are we facing?
B. What direction are we going in?
C. What resources do we have to implement our strategies?
D. What businesses are we in and what to do with those businesses?
Question-9
One strategic responsibility of managers and employees at other levels throughout the organization is:
A. strategy implementation.
B. situation analysis.
C. strategy formulation.
D. developing the organization's vision.
Question-10
Strategic management affects all organizational members. However, the only issue that differs among organizational members is the:
A. stage of the strategic management process.
B. scope of the individual's actions.
C. development of the strategy.
D. administrative impacts.
Question-11
Situation analysis allows the organization to focus on examining:
A. operational competencies.
B. financial controls.
C. the organization's top management.
D. external and internal factors.
Question-12
An organization's strategy is its goal-directed decisions and actions in which its capabilities and resources are matched with the __________ in its environment.
A. internal and external financial controls
B. opportunities and threats
C. long-term issues
D. sequential management process
Question-13
An organization's __________ are its goal-directed plans and actions in which its capabilities and resources are matched with the opportunities and threats in its environment.
A. mission statements
B. vision statements
C. strategies
D. objectives
Question-14
The __________ is an elected group that represents a company's shareholders.
A. board of directors
B. senior management team
C. steering committee
D. corporate counsel
Question-15
Bases for understanding strategic management are all of the following EXCEPT:
A. managing strategically makes a difference in an organization's performance.
B. all organizations encounter changing situations.
C. single approaches to strategy development are superior to multiple approaches.
D. all strategies must be evaluated and changed over time.
Question-16
__________ is/are the determination of the broad uses to which organizational resources will be deployed and the resolution of conflicts among the myriad participants in organizations.
A. Vision
B. Mission
C. Corporate governance
D. Goals
Question-17
__________ differences are fundamental differences between countries that encompass traditions, history, religious beliefs, and deep-seated values.
A. Colonial
B. Cultural
C. Transnational
D. Regional
Question-18
Which of the following is NOT a major element of the strategic management process?
A. Formulating strategy
B. Implementing strategy
C. Undertaking a situation analysis
D. Assigning administrative tasks
Question-19
Situation analysis involves the process of:
A. designing and choosing appropriate organizational strategies.
B. analyzing the current environment of the organization.
C. identifying external competitive threats.
D. evaluating the internal aspects of the organization.
Question-20
It appears that organizations that use strategic management concepts and techniques have higher:
A. profit margins.
B. employee satisfaction.
C. levels of performance.
D. global involvement.
BU470 Online Exam 2
Question-1
The influence of globalization in managing strategically can be demonstrated in:
A. the global marketplace.
B. global competition.
C. the organization itself.
D. global competitors and the global marketplace.
Question-2
Which of the following factors is considered to make an organization's resources unique?
A. Durability
B. Imitability
C. Quality
D. Efficiency
Question-3
Capitalizing on information, people, ideas, and knowledge characterizes the implication of:
A. vanishing distance.
B. reduced need for physical assets.
C. compressed time.
D. turbulent change.
Question-4
The United States Congress could represent the __________ form of stakeholders.
A. political action groups
B. supplier
C. government
D. shareholder
Question-5
A __________ statement is a statement of what specific organizational units do and what they hope to accomplish.
A. vision
B. strategy
C. technology
D. mission
Question-6
__________ view proposes that an organization's competitive advantage is temporary and can be gained only by peppering the competitive marketplace with rapid radical surprises.
A. Resource-based
B. Guerilla
C. Industrial organization
D. Environmental
Question-7
The following are all components of an organizational vision EXCEPT:
A. a strong connection to the organization's core values and beliefs.
B. strategy based on the results of a focus group.
C. elaboration of a purpose for the organization.
D. summary of the organization's operations or what it does.
Question-8
The competitive advantage perspective that focuses on structural forces within an industry, the competitive environment of firms, and how these influence competitive advantage is the __________ view.
A. industrial-organizational
B. resource-based
C. guerilla
D. environmental
Question-9
Experiences, characteristics, and knowledge are all aspects that represent __________ resources.
A. financial
B. intangible
C. human
D. structural
Question-10
An organization's attempt at creating and sustaining a long-term competitive advantage can be disrupted through all of the following EXCEPT:
A. technological advances.
B. market instability.
C. government legislation.
D. globalization.
Question-11
The three components that form the three critical success factors include:
A. the ability to embrace change, creativity and innovation capabilities, and being a world-class organization.
B. strategy formulation, strategy implementation, and strategy evaluation.
C. corporate, functional, and competitive strategies.
D. durability, imitability, and efficiency.
Question-12
Purchasing and sending electronic greeting cards through a web site could represent a(n) __________ for a traditional greeting card company like Hallmark.
A. organizational change
B. stable vision
C. physical change
D. product innovation
Question-13
__________ include all financial, physical, human, intangible and structural/cultural assets used by an organization to develop, produce and deliver products or services to its customers.
A. Investments
B. Capabilities
C. Vulnerabilities
D. Resources
Question-14
Companies such as Google and Apple are finding that they can achieve a sustainable competitive advantage with:
A. physical assets.
B. physical distance.
C. non-physical assets.
D. vanishing distance.
Question-15
Ethics can be defined as:
A. the obligation of organizational decision makers to make decisions and act in ways that recognize the interrelatedness of business and society.
B. the intentional and ongoing actions of an organization to continuously transform itself by acquiring information and knowledge.
C. the rules and principles that define right and wrong decisions and behavior.
D. making decisions and implementing strategies that allow an organization to develop and maintain a competitive advantage.
Question-16
The ability to access information with great speed reflects the impact of:
A. the information revolution.
B. technological advances and breakthroughs.
C. globalization.
D. All of the answer choices are correct.
Question-17
The __________ should elaborate a purpose for the organization.
A. vision
B. competitive strategy
C. mission
D. strategy
Question-18
Corporate social responsibility (CSR) is the obligation of __________ to make decisions and act in ways that recognize the interrelatedness of business and society.
A. society
B. stakeholders
C. community
D. organizational decision makers
Question-19
As you are studying your organization's context, it seems clear that the company will have to prepare itself for continual turbulence and change. Which of the following best describes the driving forces for change that could affect the company's future?
A. Reduced need for physical assets
B. Vanishing distance and compressed time
C. Increased vulnerability
D. All of the answer choices are correct.
Question-20
Ms. Gibson has come up with the idea of offering free house painting if the job is not completed within the time agreed. Which of the following best describes the competitive advantage perspective that Ms. Gibson is proposing?
A. Resource-based view
B. Guerilla view
C. Industrial organization view
D. Environmental view
BU470 Online Exam Set 3
Question-1
A challenge in conducting an external analysis is that:
A. forecasts aren't facts.
B. brand loyalty is low.
C. markets may be concentrated.
D. markets may be fragmented.
Question-2
An external analysis enables the organization to examine:
A. opportunities and threats.
B. strengths and weaknesses.
C. product substitution and durability.
D. manufacturing and operations.
Question-3
Uncertainty is determined by complexity and:
A. rate of change.
B. access to information.
C. difficulty of obtaining and controlling resources.
D. competition.
Question-4
Recent census data showed that for the first time in the history of the United States there were more Americans over age __________ than under.
A. 25
B. 30
C. 21
D. 19
Question-5
The law governing safe and hazard-free work environments is the:
A. Equal Employment Opportunity Act of 1972.
B. Americans with Disabilities Act of 1990.
C. Occupational Safety and Health Act of 1970.
D. Civil Rights Act of 1991.
Question-6
A supplier will have more bargaining power:
A. if it is able to provide the products that the industry is currently providing.
B. if the supplier's product is an important input to the industry.
C. if the supplier's products are differentiated or there are customer switching costs.
D. All of the answer choices are correct.
Question-7
If organizations have __________, they will do whatever it takes to operate at capacity.
A. high fixed costs
B. high variable costs
C. numerous competitors
D. equally balanced competitors
Question-8
Which of the following would be examples of sectors that could be found in the specific environment?
A. Demographics
B. Competitors
C. Economics
D. Political/legal
Question-9
Which of the following would be considered substitute products?
A. Coke and Pepsi
B. Contacts and eyeglasses
C. The Internet and the World Wide Web
D. AT&T and Sprint
Question-10
Organizations are __________ systems, which means they interact with and respond to their environment.
A. open
B. organic
C. adaptive
D. external
Question-11
In an external analysis, the primary role of the middle manager is to:
A. use information in terms of the "big picture."
B. act as an information gatherer and disseminator.
C. encourage workers to listen to the customer.
D. All of the answer choices are correct.
Question-12
One of the biggest technological advancements to affect the organization in recent years is:
A. the ability of managers to control employees electronically.
B. the ability of consumers to buy online.
C. the introduction of hand-held personal computers.
D. continuing computerization of an organization's activities.
Question-13
As an open system, an organization __________ and __________ its external environment.
A. reacts to; controls
B. interacts with; responds to
C. interacts with; controls
D. reacts to; responds to
Question-14
Demographic information can be obtained from all of the following sources EXCEPT the:
A. Economic Statistics Briefing Room.
B. Current Population Survey.
C. Statistical Abstract of the World.
D. Statistical Yearbook.
Question-15
According to Michael Porter, major potential barriers to entry include all of the following EXCEPT:
A. economies of scale.
B. product differentiation.
C. switching costs.
D. developmental costs.
Question-16
Which of the following is NOT one of the five competitive forces?
A. Competition forms substitute products
B. The threat of potential entry
C. The strength of industry forces
D. The bargaining power of buyers
Question-17
Which of the following does NOT usually function as an entry barrier?
A. Economies of scale
B. Product differentiation
C. High strategic stakes
D. Switching costs
Question-18
An element of the environment as information perspective is:
A. environmental relevancy.
B. environmental uncertainty.
C. environmental currency.
D. environmental texture.
Question-19
A buyer will have less bargaining power if all of the following factors apply EXCEPT:
A. buyers have limited information.
B. buyers face few switching costs.
C. the products purchased are highly differentiated and unique.
D. buyers purchase small volumes of the products.
Question-20
The __________ environment focuses on substitute products, current rivalry, potential entrants, bargaining power of buyers, and bargaining power of suppliers.
A. market
B. general
C. specific
D. fragmented
BU470 Online Exam set 4
Question-1
Internal analysis is important for identifying and evaluating an organization's:
A. strengths and weaknesses.
B. goals and objectives.
C. distinctive offerings.
D. mission and vision.
Question-2
The ability of Honda to use its fuel-efficient and reliable engines in automobiles, motorcycles, and power generators is an example of:
A. contributing to superior customer value.
B. creating a product that is difficult for competitors to imitate.
C. developing an innovation that can be used in a number of ways.
D. simulating an effective system developed by a competitor.
Question-3
The various organizational routines and processes that determine how efficiently and effectively the organization transforms its inputs into outputs are called
A. strengths.
B. core competencies.
C. capabilities.
D. customer value.
Question-4
________ are the regular, predictable, and sequential patterns of work activities performed by organizational members.
A. Organizational capabilities
B. Accumulated knowledge
C. Actual work activities
D. Organizational routines and processes
Question-5
The internal audit concentrates on the availability or lack of critical ________ and the level of ________.
A. capital; skills
B. resources; capabilities
C. financial resources; management
D. skills; resources
Question-6
All of the following constitute support activities except:
A. technological development.
B. procurement.
C. operations.
D. human resource management.
Question-7
All of the following constitute primary activities except:
A. procurement.
B. marketing and sales.
C. outbound logistics.
D. operations.
Question-8
Which of the following are considered to be primary activities in a value chain analysis as outlined by Porter?
A. Inbound logistics
B. Procurement
C. Human resource management
D. Firm's infrastructure
Question-9
After a current product-market profile has been assessed, the next step is to
A. identify sources of competitive advantage and the disadvantage in the main product-market segments.
B. emphasize the interactions between the organization and customers.
C. conduct an external assessment of competitors.
D. All of the answer choices are correct.
Question-10
_______ are the special and unique capabilities that distinguish an organization from its competitors.
A. Organizational strengths
B. Distinctive organizational capabilities
C. Competitive advantages
D. Core competencies
Question-11
Statements of desired outcomes are known as:
A. directed action.
B. organizational goals.
C. distinctive competencies.
D. management vision.
Question-12
Southwest's capability of quick gate turnaround time and exceptional employee-customer interactions is known as:
A. a distinctive organizational capability.
B. an exceptional opportunity.
C. a superior customer value.
D. a distinguished service.
Question-13
The internal audit answers the questions of:
A. Do the various functions have the needed resources to perform their assigned work activities?
B. How well do they perform these assigned work activities?
C. What are the organization's primary opportunities and threats?
D. possessing the needed resources and then performing assigned work activities.
Question-14
The second step in identifying distinctive organizational capabilities through a capabilities assessment profile is:
A. describe all the organizational capabilities and competencies.
B. identify and agree on the key capabilities and competencies.
C. identify sources of competitive advantage and disadvantage in the main product-market segments.
D. sort the core capabilities and competencies according to strategic importance.
Question-15
All of the following reflect questions asked of the management function during the internal audit except:
A. Are jobs effectively designed?
B. What is the level of employee turnover?
C. Is the organization able to raise long-term capital?
D. Does the organization effectively use work teams?
Question-16
Characteristics of dynamic capabilities include all of the following except:
A. timely responsiveness.
B. reactive responsiveness.
C. rapid and flexible product innovation.
D. coordinating and deploying organizational resources and capabilities
Question-17
The most important part of an internal analysis involves:
A. setting organizational goals.
B. identifying distinctive and dynamic capabilities.
C. creating a competitive advantage.
D. evaluating resources, capabilities, and core competencies.
Question-18
The key to using a(n) ________ audit is to determine how well or poorly organizational functions are being performed.
A. internal
B. capabilities
C. strategic
D. functional
Question-19
The organization's major value-creating skills and capabilities that are shared across multiple product lines or multiple businesses are called:
A. distinctive organizational capabilities.
B. competitive intelligence.
C. core opportunities.
D. core competencies.
Question-20
Special and unique capabilities that distinguish the organization from its competitors are called _______ organizational capabilities.
A. distinguished
B. distinctive
C. demonstrated
D. delineated
Question-21
Which of the following is not a recommended competitive strategy for developing a competitive advantage?
A. Reactor
B. Defender
C. Analyzer
D. Prospector
Question-22
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-23
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-24
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. portfolio analysis
B. distinctive capabilities
C. strengths
D. SWOT analysis
Question-25
One factor that would lead to high-performance work practices is
A. using contingent pay.
B. forming problem-solving groups.
C. conducting attitude surveys.
D. All of the answer choices are correct.
Question-26
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-27
When a company builds a profitable business by "stealing" ideas from other successful peers, it is following a(n) ________ strategy.
A. prospector
B. defender
C. analyzer
D. reactor
Question-28
Which of the following is included under the product functional strategies?
A. Supervision
B. Management
C. Marketing
D. Leadership
Question-29
________ is when organizations battle or vie for some desired object or outcome.
A. Competition
B. Strategy
C. Goal
D. Objective
Question-30
Which of the following is NOT a way to segment specialized market niches?
A. Price consciousness
B. Geographical
C. Type of customer
D. Product line segment
Question-31
________ 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-32
If Mr. Carol wanted to introduce high-performance work practices in his organization, which of the following practices would he adopt?
A. Centralized decision making
B. Fixed job assignments
C. Limited communication
D. Self-managed work teams
Question-33
The ________ works hard to establish brand loyalty.
A. differentiator
B. cost leader
C. defender
D. reactor
Question-34
Which of the following is a possible production-operations management strategy?
A. Selective specialization
B. Inventory management systems
C. User positioning
D. Market logistics
Question-35
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. establish functional strategies.
D. supervise line managers.
Question-36
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-37
When an organization hasn't developed a low cost or a differentiation competitive advantage, it is said to be
A. stuck-in-the-middle.
B. using an integrated strategy.
C. using a strategy of best cost.
D. pursuing a niche-based competitive advantage.
Question-38
Francesca has had a higher than desirable level of server turnover in her restaurant. She decided that she needs to pay better attention to which strategies?
A. Marketing
B. Human resources
C. Information
D. Financial-accounting
Question-39
The marketing mix is commonly known as the
A. 4Ps
B. 5Ps
C. 7Ss
D. 4Ss
Question-40
Which of the following is NOT one of Miles and Snow's adaptive strategies?
A. Defender
B. Prospector
C. Cost leader
D. Analyzer
BU470 Online Exam Set 5
Question-1
One factor that would lead to high-performance work practices is
A. using contingent pay.
B. forming problem-solving groups.
C. conducting attitude surveys.
D. All of the answer choices are correct.
Question-2
When a company builds a profitable business by "stealing" ideas from other successful peers, it is following a(n) ________ strategy.
A. prospector
B. defender
C. analyzer
D. reactor
Question-3
________ is when organizations battle or vie for some desired object or outcome.
A. Competition
B. Strategy
C. Goal
D. Objective
Question-4
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. portfolio analysis
B. distinctive capabilities
C. strengths
D. SWOT analysis
Question-5
________ 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-6
An organization's ________ strategies reflect its commitment to and treatment of its employees.
A. procurement
B. corporate
C. HR
D. competitive
Question-7
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-8
Product design strategies typically involve an organization's ________ functional area.
A. finance
B. R&D
C. accounting
D. HR
Question-9
Determining the optimum mix of equity or debt is a decision made by which organizational support process?
A. Financial-accounting systems
B. Corporate governance systems
C. Procurement systems
D. Product development systems
Question-10
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-11
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. establish functional strategies.
D. supervise line managers.
Question-12
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-13
The ________ works hard to establish brand loyalty.
A. differentiator
B. cost leader
C. defender
D. reactor
Question-14
Which of the following is NOT a possible dimension for identifying strategic groups?
A. Units sold
B. Price
C. Quality
D. Geographic scope
Question-15
Which of the following is NOT one of Miles and Snow's adaptive strategies?
A. Defender
B. Prospector
C. Cost leader
D. Analyzer
Question-16
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-17
The marketing mix is commonly known as the
A. 4Ps
B. 5Ps
C. 7Ss
D. 4Ss
Question-18
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-19
If Mr. Carol wanted to introduce high-performance work practices in his organization, which of the following practices would he adopt?
A. Centralized decision making
B. Fixed job assignments
C. Limited communication
D. Self-managed work teams
Question-20
Francesca has had a higher than desirable level of server turnover in her restaurant. She decided that she needs to pay better attention to which strategies?
A. Marketing
B. Human resources
C. Information
D. Financial-accounting
Question-21
For corporate growth strategies, the options for implementation are:
A. diversification, concentration, and international.
B. mergers/acquisitions, internal development, and strategic partnering.
C. cost leadership, differentiation, and focus.
D. offensive, defensive, and concentration.
Question-22
________ are usually "friendly."
A. Mergers
B. Acquisitions
C. Takeovers
D. Buyouts
Question-23
A concentration strategy:
A. does not enable an organization to become very good at what it does.
B. cannot cause the organization to become vulnerable to industry and other external environmental shifts.
C. allows the firm to diversify into new industries.
D. is a growth strategy in which the organization concentrates on its primary line of business and looks for ways to meet its growth objectives through expanding its activities or operations in its core business.
Question-24
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-25
Examples of strategic partnering include:
A. vertical integration, international expansion, and horizontal diversification.
B. concentration, vertical integration, and strategic alliances.
C. joint ventures, horizontal diversification, and international expansion.
D. joint ventures, long-term contracts, and strategic alliances.
Question-26
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. backward integration
Question-27
Starting a business from the ground up is referred to as:
A. product development.
B. market development.
C. strategic development.
D. internal development.
Question-28
A legal transaction in which two or more organizations combine operations through an exchange of stock is called a(n):
A. acquisition.
B. merger.
C. takeover.
D. repurchase.
Question-29
A paper manufacturer purchasing a forest of trees is an example of:
A. forward vertical integration.
B. backward vertical integration.
C. product/market exploitation.
D. product development.
Question-30
The organization's ability to complete or reach goals is referred to as:
A. efficiency.
B. effectiveness.
C. productivity.
D. stability.
Question-31
The _______ strategy establishes the overall direction that the organization hopes to go.
A. business
B. functional
C. corporate
D. competitive
Question-32
Cash flows from cash cows should be used to support:
A. question marks.
B. stars.
C. dogs.
D. question marks and stars.
Question-33
Efficiency is:
A. the organization's ability to complete or reach goals.
B. a specific measure, typically used in the production-operations-manufacturing area, of how many inputs it took to produce outputs.
C. the ability of the organization to minimize the use of resources in achieving organizational goals.
D. the search for the best practices from other leading organizations.
Question-34
Related diversification is ________ unrelated diversification.
A. less effective than
B. more effective than
C. just as effective as
D. less profitable than
Question-35
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-function organization.
Question-36
The types of renewal strategies include:
A. retrenchment strategy.
B. turnaround strategy.
C. diversification strategy.
D. retrenchment and turnaround strategies.
Question-37
When an organization remains with its core industry, this is an example of a ________ strategy.
A. concentration
B. forward integration
C. backward integration
D. horizontal integration
Question-38
Which of the following is a type of strategic partnering?
A. Licensing
B. Exporting
C. Joint venture
D. Direct investment
Question-39
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, Supremo Italiano. Which of the following growth strategies is Mr. Wilson following here?
A. Merger
B. Acquisition
C. Hostile takeover
D. Internal development
Question-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.
BU470 Online Exam Set 6
Question-1
To evaluate strategy, there must be a connection between the evaluation and the ________ of the not-for-profit organization.
A. revenues
B. goals
C. objectives (moderate)
D. goals and objectives
Question-2
A strategic practice in which for-profit businesses link up with a social cause that fits in well with the company's product or service is referred to as:
A. licensing.
B. franchising.
C. cause-related marketing.
D. strategic piggybacking.
Question-3
A business that is characterized by innovative strategic practices and which has as its main goals profitability and growth is called:
A. a small business.
B. an entrepreneurial venture.
C. strategically positioned.
D. a cash cow.
Question-4
Small businesses account for ________ percent of the private sector output.
A. 10
B. 20
C. 25
D. 50
Question-5
Small businesses are independent businesses that have fewer than ________ employees.
A. 100
B. 200
C. 300
D. 500
Question-6
Which of the following is not one of the unique strategies that have been developed for not-for-profit organizations in order to cope with changing environmental conditions?
A. Cause-related marketing
B. Not-for-profit marketing alliances
C. Licensing
D. Direct investment
Question-7
The strategic management process differs for small businesses and entrepreneurial ventures when compared to larger organizations because small businesses and entrepreneurial ventures have:
A. inexperienced managers.
B. limited resources.
C. smaller organizational objectives.
D. low growth potential.
Question-8
Small businesses employ over ________ of all private workers.
A. 90 percent
B. 25 percent
C. 50 percent
D. 75 percent
Question-9
Both public sector and not-for-profit organizations must develop a ________ to ensure their continued existence.
A. competitive advantage
B. strong management pool
C. lobbying group
D. link with companies
Question-10
A small business is NOT characterized by:
A. being independently owned.
B. having fewer than 100 employees.
C. engaging in innovative practices.
D. having little impact on its industry.
Question-11
Research on community arts organizations has indicated that Porter's strategies of ________ are utilized.
A. cost leadership, innovation, and focus
B. differentiation and focus
C. innovation and focus
D. cost leadership, differentiation, and focus
Question-12
All of the following are part of the strategic management process for small businesses except:
A. strategy analysis.
B. strategy formation.
C. strategy evaluation.
D. strategy implementation.
Question-13
Small businesses and entrepreneurial ventures are the driving force of change in the process of:
A. market positioning.
B. strategic positioning.
C. creative destruction.
D. competitor interrelationships.
Question-14
An alliance in which the not-for-profit organization proposes and initiates the partnership is referred to as:
A. a not-for-profit marketing alliance.
B. cause-related marketing.
C. effect-related marketing.
D. licensing.
Question-15
Chuck Hanson encourages his employees to come with new ideas and ways to do business to replace existing practices. This process is called:
A. destructive creativity.
B. innovation.
C. creative destruction.
D. applied creativity.
Question-16
An example of a cause-related NFP is:
A. Camp Fire.
B. the University of Minnesota.
C. Save the Whales.
D. Bill and Melinda Gates Foundation.
Question-17
The competitive strategy choices for small businesses and entrepreneurial ventures are:
A. often limited to focus strategies.
B. often limited to a low-cost strategy.
C. often limited to a differentiated strategy.
D. limited because of technological advances.
Question-18
The number of markets served by a small organization is determined predominantly by:
A. the resources of the organization.
B. the size of the organization.
C. the management of the organization.
D. strategic planning in the organization.
Question-19
Charles Hanson just opened Chuck's Bikes and Trikes, a motorcycle repair facility. Charles has 25 employees even though the repair facility is located in a small rural town. Chuck's Bikes and Trikes is an example of:
A. an entrepreneurial venture.
B. a small business.
C. an innovative business.
D. All of the answer choices are correct.
Question-20
According to the Global Entrepreneurship Monitor (GEM) 2011 report, there are more than ________ million entrepreneurs in the 54 countries covered.
A. 25
B. 36
C. 400
D. 250
Assignment 4
BU470 Strategic Management
Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Sources must be cited in APA format. Your response should be four (4) double-spaced pages; refer to the "Assignment Format" page located on the Course Home page for specific format requirements.
Part A
The questions in Part A refer to the material discussed in Lesson 1 of this course. Respond to the following.
- Describe the strategic management process. What does it mean to manage strategically?
- What are the three types of organizational strategies and how are they different?
- The Sarbanes-Oxley Act of 2002 (SOX) has had a significant impact on strategic management practices and strategies. Discuss how the Sarbanes-Oxley Act of 2002 reformed corporate governance.
Part B
The questions in Part B refer to the material discussed in Lesson 2 of this course. Respond to the following.
- Compare and contrast the industrial organization (I/O) and resource-based views (RBV) on competitive advantage.
- How does each develop a competitive advantage?
- What is their focus?
- What are their determinants of profitability?
- What makes organizational resource-based views unique?
Part C
The questions in Part C refer to the material discussed in Lesson 3 of this course.
In Lesson 2 you discussed the industrial organization (I/O) and resource-based views (RBV) on competitive advantage. You now know that competition and competencies are both major organizational concerns. In Lesson 3 we take a closer look at how to conduct an external analysis of an organization's specific and general environments.
To demonstrate your understanding of external analysis, respond to the following.
- Analyze the two perspectives on the environment.
- Explain the primary responsibility of managers in conducting external analysis across managerial levels.
- Describe the benefits of conducting an external analysis.
Part D
The questions in Part D refer to the material discussed in Lesson 4 of this course.
As you learned in Lesson 3, performing an external analysis can provide information to be used in planning, decision making, and strategy formulation. Organizations that conduct external analysis are most successfully when they combine this knowledge with a solid understanding of their internal strengths and weaknesses.
To demonstrate your understanding of internal analysis, respond to the following.
- Define and present the characteristics of distinctive organizational capabilities.
- Outline the steps in the identification of distinctive organizational capabilities.
- Describe the criteria involved in judging organizational strengths and weaknesses.
- Discuss the internal audit approach and why it is important.
Assignment 8
BU470 Strategic Management
Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Sources must be cited in APA format. Your response should be four (4) double-spaced pages; refer to the "Assignment Format" page located on the Course Home page for specific format requirements.
Part A
The questions in Part A refer to the material discussed in Lesson 5 of this course.
As you learned in Lesson 1, managing strategically involves formulating strategic responses and putting them into action. In Lesson 2 you learned about functional strategies (also called operational strategies), competitive strategies (also called business unit strategies), and corporate strategies. Let's now discuss implementing strong competitive and functional strategies to exploit resources, capabilities, and core competencies.
Respond to the following:
- What functional strategies does an organization need?
- What might provide the basis upon which an organization decides on a competitive strategy?
- Describe briefly Porter's notion of being "stuck-in-the-middle." Is it always true?
Part B
The questions in Part B refer to the material discussed in Lesson 6 of this course.
In Lesson 5 you learned about functional and competitive strategies, including how implement these strategies to exploit resources, capabilities, and core competencies. It is now time to delve more deeply into corporate strategy, with special attention paid to growth strategies.
Respond to the following:
- Indicate how corporate strategy is related to the other organizational strategies and describe each of the three (3) corporate strategic directions.
- Access the following article using ProQuest, the Ashworth College online library:
NOTE: To access ProQuest articles, you MUST first open a Web browser window to the Ashworth College Library; otherwise, you will be denied access to the articles when you click the links. Once your browser is open to the Ashworth College Library, simply click on the link for the article you need to read.
Respond to the following.
· What are some of the growth strategies Campbell's will implement?
- Provide two (2) other suggestions for growth strategies that Campbell's might utilize.
Part C
The questions in Part C refer to the material discussed in Lesson 7 of this course.
Again access the following article using ProQuest, the Ashworth College online library:
NOTE: To access ProQuest articles, you MUST first open a Web browser window to the Ashworth College Library; otherwise, you will be denied access to the articles when you click the links. Once your browser is open to the Ashworth College Library, simply click on the link for the article you need to read.
Also visit the Campbell's "Worldwide" section of their website, located here:
http://www.campbellsoupcompany.com/around_the_world.asp
In Lesson 6 you learned about growth strategies. One of Campbell's growth strategies is to expand its international presence, particularly in emerging markets. Think about this in relation to what you have learned about international strategies.
Respond to the following:
- What are the potential advantages and disadvantages of Campbell's intended expansion in emerging markets?
- Do you believe Campbell's is using a multicountry strategic approach or a global strategic approach? Fully explain your reasoning.
Part D
The questions in Part D refer to the material discussed in Lesson 8 of this course.
To round-out your understanding of the strategic management process, this lesson applied the concepts to entrepreneurial ventures and small businesses, as well as not-for-profit organizations. Demonstrate your knowledge of entrepreneurial ventures and small businesses by responding to the following:
- Describe the characteristics of an entrepreneurial venture and a small business.
- Why are these types of organizations important?
- Describe the overall approach to the strategic planning process in entrepreneurial ventures and small businesses.
- Explain the advantages and disadvantages of strategic planning with entrepreneurial ventures and small businesses.
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