Question 1

Competitive advantage refers to the set of decisions and actions used to formulate and implement strategies.

Accepted Answer

A) True 
 B)False

Question 2

The plan of action that prescribes resource allocation and other activities for dealing with the environment and helping the organization attain its goals is called a(n) _____.

Accepted Answer

The answer of The plan of action that prescribes resource...

Question 3

Which of these is true about the dog division?

Accepted Answer

A)   It has a large market share in a rapidly growing industry.
B)   It has a large market share in a slow growth industry.
C)   It has a small market share in a rapidly growing industry.
D)   It has a small share of a slow growth market.
E)   It has a moderate market share in a rapidly growing industry.

Question 4

When Coca-Cola introduced Surge, a new citrus soft-drink, what type of strategy was being pursued?

Accepted Answer

A)   Functional-level strategy
B)   Multi-domestic strategy
C)   Corporate-level strategy
D)   Retrenchment strategy
E)   Business-level strategy

Question 5

The star has a:

Accepted Answer

A)   large market share in a rapidly growing industry.
B)   large market share in a slow growth industry.
C)   small market share in a rapidly growing industry.
D)   small share of a slow growth market.
E)   moderate market share in a slow growth industry.

Question 6

Differentiate between strategy formulation and strategy implementation.

Accepted Answer

Strategy formulation includes the planni...

Question 7

Which of the following strategies involve an attempt to distinguish the firm's products or services from others in the industry?

Accepted Answer

A)   Cost leadership
B)   Differentiation
C)   Focus
D)   Internal growth
E)   Liquidation

Question 8

_____ includes the planning and decision making that lead to the establishment of the firm's goals and the development of a specific strategic plan.

Accepted Answer

Strategy f...

Question 9

Threats are characteristics of the internal environment that may prevent the organization from achieving its strategic goals.

Accepted Answer

A) True 
 B)False

Question 10

For the social networking site Facebook, technological know-how and an aggressive and innovative culture are significant strengths to include in its SWOT analysis.

Accepted Answer

A) True 
 B)False

Question 11

Techniques used to monitor external environments include:

Accepted Answer

A)   hiring scanning organizations.
B)   hiring the competitive intelligence professionals.
C)   government reports.
D)   professional journals.
E)   all of these.

Question 12

Strategic thinking is more important in for-profit businesses than for non-profit organizations.

Accepted Answer

A) True 
 B)False

Question 13

_____ level strategy pertains to the major functional departments within the business unit.

Accepted Answer

A)   Operational
B)   Corporate
C)   National
D)   Business
E)   Functional

Question 14

In strategy implementation, leadership is the ability to influence people to adopt the new behaviors needed.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following strategies would be appropriate when the need for both national responsiveness and global integration is low?

Accepted Answer

A)   Globalization
B)   Multidomestic
C)   Export
D)   Transnational
E)   Import

Question 16

Ford's decision to completely redesign its Ford Taurus can be classified as a:

Accepted Answer

A)   corporate level strategy.
B)   business level strategy.
C)   functional level strategy.
D)   retrenchment strategy.
E)   stability strategy.

Question 17

The transnational strategy handles markets independently for each country.

Accepted Answer

A) True 
 B)False

Question 18

Which of these is true about the cash cow?

Accepted Answer

A)   It generates tremendous profits in a rapidly growing industry.
B)   It has a small market share in a rapidly growing industry.
C)   It has a small market share in a slow growth industry.
D)   It has a large market share in a slow growth industry.
E)   It is generally a dead business that should be divested.

Question 19

The _____ function recruits selects, trains, transfers, promotes, and lays off employees to achieve strategic goals.

Accepted Answer

A)   production
B)   leadership
C)   information and control systems
D)   structural design
E)   human resource

Question 20

Strategic partnerships are the current trend, rather than mergers and acquisitions.

Accepted Answer

A) True 
 B)False

Exam 8: Strategy Formulation and Execution

_____ level strategy pertains to the major functional departments within the business unit.

Correct AnswerverifiedShow Answer

Techniques used to monitor external environments include:

Correct AnswerverifiedShow Answer

The _____ function recruits selects, trains, transfers, promotes, and lays off employees to achieve strategic goals.

Correct AnswerverifiedShow Answer

Ford's decision to completely redesign its Ford Taurus can be classified as a:

Correct AnswerverifiedShow Answer

Which of the following strategies would be appropriate when the need for both national responsiveness and global integration is low?

Correct AnswerverifiedShow Answer

In strategy implementation, leadership is the ability to influence people to adopt the new behaviors needed.

Correct AnswerverifiedShow Answer

For the social networking site Facebook, technological know-how and an aggressive and innovative culture are significant strengths to include in its SWOT analysis.

Correct AnswerverifiedShow Answer

The transnational strategy handles markets independently for each country.

Correct AnswerverifiedShow Answer

Differentiate between strategy formulation and strategy implementation.

Correct AnswerverifiedStrategy formulation includes the planni...View AnswerShow Answer

_____ includes the planning and decision making that lead to the establishment of the firm's goals and the development of a specific strategic plan.

Correct AnswerverifiedStrategy f...View AnswerShow Answer

Strategic partnerships are the current trend, rather than mergers and acquisitions.

Correct AnswerverifiedShow Answer

Which of these is true about the dog division?

Correct AnswerverifiedShow Answer

Competitive advantage refers to the set of decisions and actions used to formulate and implement strategies.

Correct AnswerverifiedShow Answer

When Coca-Cola introduced Surge, a new citrus soft-drink, what type of strategy was being pursued?

Correct AnswerverifiedShow Answer

Strategic thinking is more important in for-profit businesses than for non-profit organizations.

Correct AnswerverifiedShow Answer

The star has a:

Correct AnswerverifiedShow Answer

The plan of action that prescribes resource allocation and other activities for dealing with the environment and helping the organization attain its goals is called a(n) _____.

Correct AnswerverifiedShow Answer

Which of these is true about the cash cow?

Correct AnswerverifiedShow Answer

Which of the following strategies involve an attempt to distinguish the firm's products or services from others in the industry?

Correct AnswerverifiedShow Answer

Threats are characteristics of the internal environment that may prevent the organization from achieving its strategic goals.

Correct AnswerverifiedShow Answer

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Strategy formulation includes the planni...
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Strategy f...
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