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56. At Save-tech, Sophia, director of marketing, is a member of a
cross-functional group of managers and employees. The purpose of the group is to gain a deep
understanding company’s competitive environment and periodically present these
findings to top management. Sophia is
involved in what type of team?

a.

Intelligence team

b.

Functional team

c.

Task force

d.

Project team

e.

Espionage team

57. One major limitation of goals and plans is:

a.

Goals and plans guide resource
allocation

b.

Goals and plans may cause rigidity in
a turbulent environment

c.

Goals and plans decrease employee
motivation

d.

Goals and plans decrease employee
commitment

e.

None of the above

58. The set of decisions and actions used to formulate and execute
strategies that will provide a competitively superior fit between the
organization and its environment so as to achieve organizational goals is known
as

a.

strategy formulation.

b.

strategic planning.

c.

strategic management.

d.

strategy implementation.

e.

strategy evaluation.

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

a.

goal.

b.

objective.

c.

mission.

d.

vision.

e.

strategy.

60. The condition that exists when the organization’s parts interact
to produce a joint effect that is greater than the sum of the parts acting
alone is known as

a.

core competence.

b.

synergy.

c.

value creation.

d.

business-level strategy.

e.

multidomestic strategy.

61. ____ can be defined as the combination of benefits received and
costs paid by the customer.

a.

Organizational benefits

b.

Value

c.

Cost-benefit diversity

d.

Synergy

e.

Core competence

62. When properly managed, ____ can create additional value with
existing resources, providing a big boost to the bottom line.

a.

synergy

b.

competitors

c.

government contacts

d.

command structure

e.

cooperation among customers

63. ____ refers to the use of managerial tools to direct resources
toward the achievement of strategic results.

a.

Strategy formulation

b.

Strategy coordination

c.

Strategy execution

d.

Strategy control

e.

Strategy planning

64. Which of the following refers to the planning and decision making
that lead to the establishment of the organization’s goals and of a specific
strategic plan?

a.

Strategy formulation

b.

Strategy implementation

c.

Strategy coordination

d.

Strategy control

e.

SWOT

65. Fred has been assigned to conduct a SWOT analysis for his
organization, Flintstones, Inc. As part of this assignment, Fred will

a.

conduct an external wage survey.

b.

search for the strengths, weaknesses,
opportunities, and threats that impact his firm.

c.

choose a grand strategy for his firm.

d.

do a cost/benefit analysis.

e.

develop a mission.

66. Classy Clay has extremely creative employees who, in the opinion
of the organization, keep the company ahead of the competition. The creativity
of these employees would be classified as

a.

an internal weakness.

b.

an external opportunity.

c.

an external strength.

d.

an internal strength.

e.

a neutral factor.

67. Where does the information about opportunities and threats comes
from?

a.

An analysis of the organization’s
internal environment

b.

A department by department study of
the organization

c.

Scanning the external environments

d.

Employee grievances

e.

Financial ratios of the organization

68. Flush Away, Inc. is particularly concerned about pending
legislation in Congress that would further regulate their organization. This
legislation would be classified as

a.

an external opportunity.

b.

an internal strength.

c.

an external threat.

d.

an external weakness.

e.

a congressional chaos.

69. Barriers to entry are related to which competitive force?

a.

Rivalry among competitors

b.

Potential new entrants

c.

Threat of substitute products

d.

Bargaining power of buyers

e.

Bargaining power of suppliers

70. All of the following are Porter’s competitive forces EXCEPT

a.

differentiation.

b.

bargaining power of buyers.

c.

bargaining power of suppliers.

d.

threat of substitute products.

e.

potential new entrants.

71. Which of the following is NOT one of Porter’s competitive forces?

a.

Potential new entrants

b.

Bargaining power of suppliers

c.

Bargaining power of stockholders

d.

Bargaining power of customers

e.

Rivalry among competitors

72. Which of Porter’s five forces is influenced by all of the other
four?

a.

Threat of substitute products

b.

Rivalry among competitors

c.

Bargaining power of buyers

d.

Potential new entrants

e.

Bargaining power of suppliers

73. The ____ strategy involves strong central authority, cutting
costs, and maintaining standard operating procedures to be more efficient than
competitors.

a.

cost leadership

b.

differentiation

c.

focus

d.

internal growth

e.

liquidation

74. Some people argue that ____ is the most difficult and most
important part of strategic management.

a.

SWOT analysis

b.

strategic formation

c.

strategic execution

d.

strategic analysis

e.

strategy evaluation

75. Persuasion, motivation, and changes in cultures and values are
examples of which of the dimensions used to execute strategy?

a.

Visible leadership

b.

Structural design

c.

Human resources

d.

Information and control systems

e.

Candid communication

76. Which of the following is NOT one of the tools used for putting
strategy into action?

a.

Visible leadership

b.

Diversification

c.

Human Resources

d.

Communication

e.

Clear roles and accountability

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

a.

production

b.

leadership

c.

information and control systems

d.

structural design

e.

human resource

78. After Sunshine Systems merged with RTD Enterprises, company
executives noticed that due to increased employee collaboration between the two
units, costs were down and revenues increased within both areas. This is an example of what business
phenomenon?

a.

Strategy execution

b.

Portfolio strategy

c.

Core competency

d.

Synergy

e.

Delivering value

79. Which of the following is true regarding the impact of the
Internet on Porter’s Five Forces affecting industry competition?

a.

Internet increases barriers to entry

b.

Internet decreases bargaining power of
suppliers

c.

Internet shifts power away from end
customers

d.

Internet cuts down on substitute
product threats

e.

Internet blurs differences among
competitors

80. Sugar manufacturers have been steadily losing business as a result
of increasing use of high-fructose corn syrup in processed foods. However, sugar sales are beginning to
increase again in recent months. This
example most closely demonstrates which of Porter’s Five Forces?

a.

Bargaining power of suppliers

b.

Bargaining power of consumers

c.

Rivalry among competitors

d.

Threat of new entrants

e.

Threat of new substitutes

81. People need to understand how their individual actions can
contribute to achieving an organizational strategy. This can be accomplished by delegating
authority, creating teams, and defining roles.
These actions are part of which tool for putting strategy into action?

a.

Visible leadership

b.

Candid communication

c.

Human resources

d.

Clear roles and accountability

e.

Bargaining power of employees

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