1)
In a survey of 50 corporations, which of the following was rated as a benefit
of strategic management?
A.
Clearer sense of vision for the firm
B.
Higher levels of employee motivation
C.
Higher levels of job satisfaction
D.
Improved productivity
E.
Lower employee turnover
2)
Research suggests that strategic management evolves through four sequential
phases in corporations. The first phase is
A.
externally-oriented planning
B.
basic financial planning
C.
internally-oriented planning
D.
forecast-based planning
E.
strategic management
3)
Strategic management is that set of managerial decisions and actions that
determine the long-run performance of a corporation. Which one of the following
is NOT one of the basic elements of the strategic management process?
A.
Strategy formulation
B.
Strategy implementation
C.
Statistical process control
D.
Evaluation and control
E.
Environmental scanning
4)
The relationship among the board of directors, top management, and shareholders
is referred to as
A.
corporate synergy
B.
corporate management
C.
corporate governance
D.
corporate strategy
E.
corporate responsibility
5)
The concept that proposes private corporations have responsibilities to society
that extend beyond making a profit is known as
A.
flexible responsibility
B.
social responsibility
C.
social flexibility
D.
managerial responsibility
E.
profit maximization
6)
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?
A.
Adam Smith
B.
Edward Freeman
C.
Archie Carroll
D.
William C. Norris
E.
Milton Friedman
7)
Which of the following is NOT descriptive of external environmental scanning?
A.
Used as a tool to ensure a corporations long-term health
B.
Used to monitor, evaluate, and disseminate information from the external
environment to key people within the corporation
C.
Used to identify opportunities and threats
D.
It is a tool that corporations use to avoid strategic surprise
E.
Used to identify strengths and weaknesses
8) According
to Porter, the corporation is most concerned with
A.
the intensity of competition within its industry
B.
the aggregate level of demand for a product line
C.
a markets position on its life cycle
D.
the amount of pressure from the societal environment
E.
the level of government action in an industry
9)
When a company determines a competencys competitive advantage, Barney refers
to this issue as
A.
value
B.
rareness
C.
imitability
D.
organization
E.
durability
10)
An acronym for the assessment of the external and internal environments of the
business corporation in the process of strategy formulation/strategic planning
is
A.
P.E.T.
B.
M.B.O.
S.W.O.T.
D.
S.B.U.
E.
R.O.I.
11)
In the development of a SFAS matrix, the first step is to
A.
enter the ratings of how the companys management is responding to each of the
strategic factors
B.
calculate the weighted scores
C.
list the most important EFAS and IFAS items
D.
indicate short-term for the duration
E.
enter the weights for all of the internal factors
12)
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)
A.
IFAS Table
B.
EFAS Table
C.
SFAS Table
D.
TOWS Matrix
E.
Issues Priority Matrix
13)
Which strategy specifies the firms 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?
A.
Corporate
Functional
Divisional
D.
Organizational
E.
Business
14)
Continuous improvement is an operations concept developed in
A.
the United States
B.
Sweden
C.
Japan
Germany
E.
Canada
15)
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
A.
staging
B.
international strategy
C.
competitive strategy
D.
cross-border configuration
16)
What question must managers ask concerning the relationship between economic
logic and international strategy?
A.
Which geographic areas will we enter?
B.
How does our international strategy contribute to the economic logic of our
business and corporate strategies?
C.
How does being international make our products more attractive to our
customers?
D.
Which international market-entry strategies will we use?
17)
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?
A.
Business strategy
B.
Competitive strategy
C.
Generic strategy
D.
Enterprise strategy
E.
Functional strategy
18)
The strategy that deals with product and process innovation and improvement is
known as a ________ strategy.
A.
Marketing
B.
R&D
C.
operations
D.
financial
E.
human resource management
19)
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
A.
training
B.
staffing
C.
structuring
D.
operating
E.
financing
20)
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)
A.
mission statement
B.
action plan
C.
MBO
D.
TQM
E.
succession plan
21)
Executives with a particular mix of skills and experiences may be classified as
an executive type and paired with
A.
a specific personal characteristic
B.
a specific corporate strategy
C.
a certain educational background
D.
a specific experience background
E.
a specific industry
22)
According to the text, what is the key to effective management of change in
culture?
A.
Planning
B.
Operationalization
C.
Evaluation
D.
Staffing
E.
Communication
23)
The sum total of the activities and choices required for the execution of a
strategic plan is known as in
A.
strategic formulation
B.
environmental scanning
C.
strategy implementation
D.
evaluation and control
E.
strategic development
24)
Who typically implements strategy in large, multi-industry corporations?
A.
The board of directors
B.
Top management
C.
Middle management
D.
First level management
E.
Everyone in the organization
25)
Which one of the following is NOT a part of the evaluation and control of
performance?
A.
Establish corporate strategies.
B.
Determine what to measure.
C.
Establish standards for performance.
D.
Measure actual performance.
E.
Take corrective actions.
26)
The end result of activity is known as
A.
measurement
B.
gratuity
C.
performance
D.
return on equity
E.
achievement
27)
Which is the MOST commonly used measure of corporate performance (in terms of
profit)?
A.
EPS
B.
ROE
C.
DPS
D.
ROI
E.
ROVA
28)
Because of the belief that accounting-based numbers such as ROI, ROE, and EPS
are not reliable indicators of a corporations economic value, which method of
corporate performance is now preferred?
A.
Shareholder value
B.
Basic earning power
C.
Price/earnings ratio
D.
Profit margin on sales
E.
Return on assets
29)
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?
A.
Sears, Roebuck, & Co.
B.
J.C. Penney
C.
Neiman Marcus
D.
Saks
E.
Macys
30)
Suboptimization occurs when
A.
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
B.
there is a failure to produce at or near full capacity
C.
individuals are placed into positions not suited to their abilities
D.
managers tend to focus more of their attentions on those aspects which are
measurable than on those which are not
E.
managers concentrate too much on short-term performance objectives
1)
In a survey of 50 corporations, which of the following was rated as a benefit
of strategic management?A.
Clearer sense of vision for the firmB.
Higher levels of employee motivationC.
Higher levels of job satisfactionD.
Improved productivityE.
Lower employee turnover2)
Research suggests that strategic management evolves through four sequential
phases in corporations. The first phase isA.
externally-oriented planningB.
basic financial planningC.
internally-oriented planningD.
forecast-based planningE.
strategic management3)
Strategic management is that set of managerial decisions and actions that
determine the long-run performance of a corporation. Which one of the following
is NOT one of the basic elements of the strategic management process?A.
Strategy formulationB.
Strategy implementationC.
Statistical process controlD.
Evaluation and controlE.
Environmental scanning4)
The relationship among the board of directors, top management, and shareholders
is referred to asA.
corporate synergyB.
corporate managementC.
corporate governanceD.
corporate strategyE.
corporate responsibility5)
The concept that proposes private corporations have responsibilities to society
that extend beyond making a profit is known asA.
flexible responsibilityB.
social responsibilityC.
social flexibilityD.
managerial responsibilityE.
profit maximization6)
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?A.
Adam SmithB.
Edward FreemanC.
Archie CarrollD.
William C. NorrisE.
Milton Friedman7)
Which of the following is NOT descriptive of external environmental scanning?A.
Used as a tool to ensure a corporations long-term healthB.
Used to monitor, evaluate, and disseminate information from the external
environment to key people within the corporationC.
Used to identify opportunities and threatsD.
It is a tool that corporations use to avoid strategic surpriseE.
Used to identify strengths and weaknesses8) According
to Porter, the corporation is most concerned withA.
the intensity of competition within its industryB.
the aggregate level of demand for a product lineC.
a markets position on its life cycleD.
the amount of pressure from the societal environmentE.
the level of government action in an industry9)
When a company determines a competencys competitive advantage, Barney refers
to this issue asA.
valueB.
rarenessC.
imitabilityD.
organizationE.
durability10)
An acronym for the assessment of the external and internal environments of the
business corporation in the process of strategy formulation/strategic planning
isA.
P.E.T.B.
M.B.O.S.W.O.T.D.
S.B.U.E.
R.O.I.11)
In the development of a SFAS matrix, the first step is toA.
enter the ratings of how the companys management is responding to each of the
strategic factorsB.
calculate the weighted scoresC.
list the most important EFAS and IFAS itemsD.
indicate short-term for the durationE.
enter the weights for all of the internal factors12)
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)A.
IFAS TableB.
EFAS TableC.
SFAS TableD.
TOWS MatrixE.
Issues Priority Matrix13)
Which strategy specifies the firms 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?A.
CorporateFunctionalDivisionalD.
OrganizationalE.
Business14)
Continuous improvement is an operations concept developed inA.
the United StatesB.
SwedenC.
JapanGermanyE.
Canada15)
The process by which a firm approaches its cross-border activities and those of
competitors, and plans to approach them in the future, is calledA.
stagingB.
international strategyC.
competitive strategyD.
cross-border configuration16)
What question must managers ask concerning the relationship between economic
logic and international strategy?A.
Which geographic areas will we enter?B.
How does our international strategy contribute to the economic logic of our
business and corporate strategies?C.
How does being international make our products more attractive to our
customers?D.
Which international market-entry strategies will we use?17)
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?A.
Business strategyB.
Competitive strategyC.
Generic strategyD.
Enterprise strategyE.
Functional strategy18)
The strategy that deals with product and process innovation and improvement is
known as a ________ strategy.A.
MarketingB.
R&DC.
operationsD.
financialE.
human resource management19)
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 ofA.
trainingB.
staffingC.
structuringD.
operatingE.
financing20)
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)A.
mission statementB.
action planC.
MBOD.
TQME.
succession plan21)
Executives with a particular mix of skills and experiences may be classified as
an executive type and paired withA.
a specific personal characteristicB.
a specific corporate strategyC.
a certain educational backgroundD.
a specific experience backgroundE.
a specific industry22)
According to the text, what is the key to effective management of change in
culture? A.
PlanningB.
OperationalizationC.
EvaluationD.
StaffingE.
Communication23)
The sum total of the activities and choices required for the execution of a
strategic plan is known as inA.
strategic formulationB.
environmental scanningC.
strategy implementationD.
evaluation and controlE.
strategic development24)
Who typically implements strategy in large, multi-industry corporations?A.
The board of directorsB.
Top managementC.
Middle managementD.
First level managementE.
Everyone in the organization25)
Which one of the following is NOT a part of the evaluation and control of
performance?A.
Establish corporate strategies.B.
Determine what to measure.C.
Establish standards for performance.D.
Measure actual performance.E.
Take corrective actions.26)
The end result of activity is known asA.
measurementB.
gratuityC.
performanceD.
return on equityE.
achievement27)
Which is the MOST commonly used measure of corporate performance (in terms of
profit)?A.
EPSB.
ROEC.
DPSD.
ROIE.
ROVA28)
Because of the belief that accounting-based numbers such as ROI, ROE, and EPS
are not reliable indicators of a corporations economic value, which method of
corporate performance is now preferred?A.
Shareholder valueB.
Basic earning powerC.
Price/earnings ratioD.
Profit margin on salesE.
Return on assets29)
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?A.
Sears, Roebuck, & Co.B.
J.C. PenneyC.
Neiman MarcusD.
SaksE.
Macys30)
Suboptimization occurs whenA.
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 wholeB.
there is a failure to produce at or near full capacityC.
individuals are placed into positions not suited to their abilitiesD.
managers tend to focus more of their attentions on those aspects which are
measurable than on those which are notE.
managers concentrate too much on short-term performance objectives
