Management 9

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Management 9
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Management 9
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  1. 1. __________ refers to operating in a successful way that is difficult for competitors to imitate.
    A. Monopolistic behaviour
    B. Competitive advantage
    C. Dominating competition
    D. Competitive effectiveness
    E. Competitive success
    B. Competitive advantage
    (this multiple choice question has been scrambled)
  2. 2. Which of the following statements is FALSE?
    A. The ultimate goal of any organisation is to achieve competitive advantage.
    B. To gain sustainable competitive advantage, an organisation must consistently deal with market and environmental forces better than its competitors.
    C. The ultimate goal of any organisation is to achieve sustainable competitive advantage.
    D. The task of achieving a sustainable competitive advantage can be challenging in any setting.
    E. A sustainable competitive advantage is one that is difficult for competitors to imitate.
    A. The ultimate goal of any organisation is to achieve competitive advantage.
    (this multiple choice question has been scrambled)
  3. 3. __________ is an action focus that links an organisation to its environment.
    A. Objective setting
    B. Strategy
    C. Ecological management
    D. Decision making
    E. Problem solving
    B. Strategy
    (this multiple choice question has been scrambled)
  4. 4. __________ refers to an organisation's focusing all its energies on a unifying and compelling target.
    A. The functional plan
    B. Strategic intent
    C. Managing with sound objectives
    D. Strategic thinking
    E. The operational plan
    B. Strategic intent
    (this multiple choice question has been scrambled)
  5. 5. A __________ is a plan for using resources consistent with __________.
    A. strategy visionary leadership
    B. budget transformational leadership
    C. strategy transformational leadership
    D. strategy strategic intent
    E. vision strategic intent
    D. strategy strategic intent
    (this multiple choice question has been scrambled)
  6. 6. Customers and flexibility increasingly drive __________ in contemporary businesses.
    A. objective setting
    B. communications
    C. problem solving
    D. strategy
    E. decision making
    D. strategy
    (this multiple choice question has been scrambled)
  7. 7. The essence of __________ is looking ahead, understanding the environment and the organisation, and effectively positioning the organisation for competitive advantage.
    A. strategic management
    B. managerial planning
    C. environmental scanning
    D. problem solving
    E. portfolio planning
    A. strategic management
    (this multiple choice question has been scrambled)
  8. 8. According to Harvard scholar Michael Porter, the ultimate goal for any business should be
    A. maximum wealth creation.
    B. total customer satisfaction.
    C. industry domination.
    D. maximum market share.
    E. superior profitability.
    E. superior profitability.
    (this multiple choice question has been scrambled)
  9. 9. _________ are those returns that exceed what an investor could earn by investing in alternative opportunities of equivalent risk.
    a. Performance opportunity returns
    b. Above-average returns
    c. Excessive profits
    d. Equivalent risk payoffs
    e. Investor wealth returns
    b. Above-average returns
  10. 10. Which one of the following statements does NOT provide an accurate description of the monopoly environment?
    A. Alternatives A and B provide accurate descriptions of the monopoly environment.
    B. Alternatives A, B and C provide accurate descriptions of the monopoly environment.
    C. It is an environment in which there is only one player and no competition.
    D. It is an environment that creates absolute competitive advantage.
    E. It is an environment that delivers sustainable and most likely excessive business profit.
    B. Alternatives A, B and C provide accurate descriptions of the monopoly environment.
    (this multiple choice question has been scrambled)
  11. 11. Oil companies such as Shell, BP and Mobil can be considered to operate in a(n)
    A. anti-competitive environment.
    B. dysfunctional environment.
    C. monopoly environment.
    D. oligopoly environment.
    E. hypercompetition environment.
    D. oligopoly environment.
    (this multiple choice question has been scrambled)
  12. 12. The __________ is an environment that contains a few players who do not directly compete against one another.
    A. hypercompetition environment
    B. oligopoly environment
    C. anti-competitive environment
    D. monopoly environment
    E. dysfunctional environment
    B. oligopoly environment
    (this multiple choice question has been scrambled)
  13. 13. An oligopoly environment can be described as an environment
    a. with few players who do not directly compete against one another.
    b. that can sustain long-term competitive advantages within defined market segments.
    c. that can reap excessive business profits in the absence of competition within defined market segments.
    d. All of the above
    e. None of the above
    d. All of the above
  14. 14. The environment in which there are at least several players who directly compete with one another is known as a(n)
    A. hypercompetition environment.
    B. perfect competition environment.
    C. oligopoly environment.
    D. pure competitor environment.
    E. monopoly environment.
    A. hypercompetition environment.
    (this multiple choice question has been scrambled)
  15. 15. Which of the following statements does NOT characterise the environment of hypercompetition?
    A. Profits can be attractive but intermittent.
    B. There are always winners and losers in hypercompetition.
    C. Hypercompetition is direct and intense.
    D. Any competitive advantage that is realised in hypercompetition is relatively permanent.
    E. Hypercompetition is fostered by a global economy.
    D. Any competitive advantage that is realised in hypercompetition is relatively permanent.
    (this multiple choice question has been scrambled)
  16. 16. Which of the following statements about the competitive nature of organisational environments is CORRECT?
    A. The oligopoly environment has only one player and no competition.
    B. The hypercompetition environment has at least several key players who compete directly with each other.
    C. The monopoly environment contains a few players who do not compete directly against one another.
    d. All of the above.
    e. None of the above.
    B. The hypercompetition environment has at least several key players who compete directly with each other.
    (this multiple choice question has been scrambled)
  17. 17. Successful strategic management occurs when organisations formulate and implement strategies that
    A. achieve long-term, sustainable competitive advantage.
    B. enable the organisation to make a profit.
    C. enable employees to be productive.
    D. fit with the organisation's vision and mission.
    E. fulfil the organisation's social responsibility objectives.
    A. achieve long-term, sustainable competitive advantage.
    (this multiple choice question has been scrambled)
  18. 18. The major responsibilities of the strategic management process are
    a. strategy formulation.
    b. strategy implementation.
    c. strategy design.
    d. a and b above
    e. b and c above
    d. a and b above
  19. 19. As part of the strategic management process, strategy formulation involves
    a. identifying the existing mission, objectives and strategies.
    b. analysing the industry and external environment as well as organisational resources and capabilities.
    c. revising the mission and objectives and selecting new strategies.
    d. All of the above
    e. None of the above
    d. All of the above
  20. 20. Peter Drucker indicates that managers should ask five questions in the process of formulating an organisation's strategy. Which of the following is NOT one of these questions?
    A. Who are our customers?
    B. What is our business mission?
    C. Who are our competitors?
    D. What do our customers consider value?
    E. What have been our results?
    C. Who are our competitors?
    (this multiple choice question has been scrambled)
  21. 21. __________ is the process of allocating resources and putting strategies into action.
    A. Vision activation
    B. Action planning
    C. Strategy implementation
    D. Managerial budgeting
    E. Mission implementation
    C. Strategy implementation
    (this multiple choice question has been scrambled)
  22. 22. Strategy implementation includes
    a. mobilising resources.
    b. utilising management systems and practices.
    c. evaluating results and renewing the strategic management process.
    d. All of the above
    e. None of the above
    d. All of the above
  23. 23. The __________ responsibility of strategic management requires decisions, imposes risks, demands allocation of resources and requires work.
    A. core values assessment
    B. cultural determination
    C. strategy formulation
    D. environmental scanning
    E. strategy implementation
    E. strategy implementation
    (this multiple choice question has been scrambled)
  24. 24. The __________ begins with a careful assessment and clarification of organisational mission, values and objectives.
    A. organisational planning process
    B. strategic management process
    C. culture formation process
    D. organisational change process
    E. organisational design process
    B. strategic management process
    (this multiple choice question has been scrambled)
  25. 25. Important strategic management tasks include all of the following EXCEPT
    A. assessing current performance in relation to mission and objectives.
    B. evaluating the results, and changing strategic plans or implementation processes as necessary.
    C. creating strategic plans to accomplish mission and objectives, and implementing those plans.
    D. identifying organisational mission and objectives.
    E. providing visionary and inspirational leadership.
    E. providing visionary and inspirational leadership.
    (this multiple choice question has been scrambled)
  26. 26. In evaluating the success of strategic management, certain crucial questions need to be asked and answered. Which of the following is NOT one of these crucial questions?
    A. What business are we in?
    B. Where do we want to be in the future?
    C. How can we get where we really want to be?
    D. How well did we do in the past?
    E. Has everything been done that needs to be done?
    D. How well did we do in the past?
    (this multiple choice question has been scrambled)
  27. 27. The mission of an organisation describes its
    A. strategic edge.
    B. competitive advantage.
    C. strategic advantage.
    D. basic purpose.
    E. environmental scanning.
    D. basic purpose.
    (this multiple choice question has been scrambled)
  28. 28. Michael Hammer recommends that an organisation's mission statement should address certain questions, including which of the following?
    a. What are we moving to?
    b. What is our dream?
    c. What kind of difference do we want to make in the world?
    d. All of the above.
    e. None of the above.
    d. All of the above.
  29. 29. A good mission statement should incorporate all of the following elements EXCEPT
    A. the location in which the firm intends to operate.
    B. the customers the firm will serve.
    C. the products/services the firm intends to provide.
    D. the underlying corporate philosophy.
    E. the nature of the competitive environment.
    E. the nature of the competitive environment.
    (this multiple choice question has been scrambled)
  30. 30. As part of the strategic planning process, a __________ is concerned with assessing the interests of each group of stakeholders as well as the organisation's record in responding to them.
    A. mission and domain analysis
    B. business portfolio planning analysis
    C. corporate culture analysis
    D. competitor analysis
    E. strategic constituencies analysis
    E. strategic constituencies analysis
    (this multiple choice question has been scrambled)
  31. 31. Organisational culture accomplishes all of the following EXCEPT
    A. it backs up the mission statement.
    B. it helps build institutional identity.
    C. it determines the strategy to be pursued.
    D. it shapes the values of managers and other organisation members.
    E. it points people in common directions.
    C. it determines the strategy to be pursued.
    (this multiple choice question has been scrambled)
  32. 32. Which of the following statements accurately describes the benefits associated with strong core values?
    a. Strong core values give character to an organisation.
    b. Strong core values back up the mission statement.
    c. Strong core values help guide members' behaviour in meaningful and consistent ways.
    d. All of the above.
    e. None of the above.
    d. All of the above.
  33. 33. __________ direct activities towards key and specific performance results.
    A. Operating objectives
    B. Planning objectives
    C. Strategic objectives
    D. Official objectives
    E. Corporate objectives
    A. Operating objectives
    (this multiple choice question has been scrambled)
  34. 34. __________ are shorter term targets against which actual performance results can be measured.
    A. Strategic objectives
    B. Corporate objectives
    C. Planning objectives
    D. Official objectives
    E. Operating objectives
    E. Operating objectives
    (this multiple choice question has been scrambled)
  35. 35. According to Peter Drucker, the common operating objectives for organisations might include all of the following EXCEPT
    A. gaining and holding a specific share of a product market.
    B. acquiring financial capital and earning positive returns.
    C. recruiting and maintaining a high-quality workforce.
    D. producing at a net profit in business.
    E. developing a strong culture to effectively mould employees' behaviour.
    E. developing a strong culture to effectively mould employees' behaviour.
    (this multiple choice question has been scrambled)
  36. 36. Widgets-R-Us manufactures a range of industrial fittings. Operating objectives for the company might include all of the following EXCEPT
    A. using resources well to operate at low cost.
    B. producing high-quality goods.
    C. developing new products and/or processes.
    D. making a positive contribution to society.
    E. designing an adaptive organisation.
    E. designing an adaptive organisation.
    (this multiple choice question has been scrambled)
  37. 37. The common operating objectives for organisations might include all of the following EXCEPT
    A. using resources well to operate at low cost.
    B. developing new products and/or processes.
    C. making a positive contribution to society.
    D. designing an adaptive organisation.
    E. producing high-quality goods or services.
    D. designing an adaptive organisation.
    (this multiple choice question has been scrambled)
  38. 38. A(n) ____________ involves an assessment of organisational strengths and weaknesses as well as environmental opportunities and threats.
    A. organisational objectives analysis
    B. profitability analysis
    C. managerial objectives analysis
    D. SWOT analysis
    E. efficiency analysis
    D. SWOT analysis
    (this multiple choice question has been scrambled)
  39. 39. In evaluating the organisational resources and capabilities, a major goal is to identify
    a. core competencies.
    b. operating objectives.
    c. strategic objectives.
    d. important external stakeholders.
    e. potential investors.
    0
  40. 40. __________ refer to special strengths that the organisation has or things the organisation does well in comparison with competitors.
    A. Organisational strength factors
    B. Core competencies
    C. Special characteristics
    D. Special capabilities
    E. Favourable organisational attributes
    B. Core competencies
    (this multiple choice question has been scrambled)
  41. 41. Core competencies can be found in an organisation's special strengths. Which of the following would NOT be one of these special organisational strengths?
    A. Unique product distribution systems
    B. Efficient manufacturing technologies
    C. Favourable governmental regulations
    D. Special knowledge or expertise
    E. Superior technologies
    C. Favourable governmental regulations
    (this multiple choice question has been scrambled)
  42. 42. In conducting a SWOT analysis, the examination of organisational strengths should consider all of the following factors EXCEPT
    A. a skilled workforce.
    B. a good market share.
    C. strong financing.
    D. a superior reputation.
    E. manufacturing bottlenecks.
    E. manufacturing bottlenecks.
    (this multiple choice question has been scrambled)
  43. 43. In doing a SWOT analysis, the examination of organisational weaknesses should consider all of the following factors EXCEPT
    A. inadequate research and development.
    B. obsolete technologies.
    C. past planning successes.
    D. outdated facilities.
    E. weak management.
    C. past planning successes.
    (this multiple choice question has been scrambled)
  44. 44. In conducting a SWOT analysis, issues regarding outdated facilities, inadequate research and development, obsolete technologies, weak management and past planning failures would be addressed in analysing the company's
    A. opportunities.
    B. strategies.
    C. threats.
    D. weaknesses.
    E. strengths.
    D. weaknesses.
    (this multiple choice question has been scrambled)
  45. 45. Potential opportunities and threats can be in identified in __________ and __________.
    A. the external organisational environment … the internal organisational environment
    B. the internal SWOT analysis … the external SWOT analysis
    C. the macro-environment … the industry environment
    D. the organisation's mission … culture
    E. the organisation's strengths … weaknesses
    C. the macro-environment … the industry environment
    (this multiple choice question has been scrambled)
  46. 46. In a SWOT analysis, industry environmental factors include the organisation's
    a. resource suppliers.
    b. competitors.
    c. customers.
    d. All of the above
    e. None of the above
    d. All of the above
  47. 47. In conducting a SWOT analysis, a company's __________ can be examined by asking questions about possible new markets, the growth of existing markets, the emergence of new technologies and the weaknesses of market rivals.
    A. threats
    B. opportunities
    C. weaknesses
    D. strengths
    E. strategies
    B. opportunities
    (this multiple choice question has been scrambled)
  48. 48. In doing a SWOT analysis, the examination of threats within the industry and macroenvironments should address all of the following elements EXCEPT
    A. changing market tastes.
    B. new regulations.
    C. abundance of resources.
    D. new competitors.
    E. substitute products.
    C. abundance of resources.
    (this multiple choice question has been scrambled)
  49. 49. In conducting a SWOT analysis, a company's __________ should be assessed in terms of new competitors, possible resource shortages, changing market tastes, substitute products and new regulations.
    A. strategies
    B. threats
    C. weaknesses
    D. opportunities
    E. strengths
    B. threats
    (this multiple choice question has been scrambled)
  50. 50. Which of the following is NOT one of the five strategic forces that should be considered in conducting an industry analysis?
    A. Intensity of rivalry among firms in the industry
    B. Impact of developments in information technology
    C. Threats of substitute products or services
    D. Bargaining power of buyers
    E. Threats of new competitors entering the market
    B. Impact of developments in information technology
    (this multiple choice question has been scrambled)
  51. 51. From the perspective of Porter's five forces mode, a(n) __________ is one in which intense rivalry already exists among competitors, there are substantial threats in terms of new competitors and substitute products, and suppliers and buyers are very powerful in bargaining over prices and quality.
    A. normal industry
    B. attractive industry
    C. competitive industry
    D. unattractive industry
    E. noncompetitive industry
    D. unattractive industry
    (this multiple choice question has been scrambled)
  52. 52. From the perspective of Porter's five forces mode, a(n) __________ is one with less intense competition, few threats from new entrants or substitutes and low bargaining power among suppliers and buyers.
    A. attractive industry
    B. normal industry
    C. noncompetitive industry
    D. competitive industry
    E. unattractive industry
    A. attractive industry
    (this multiple choice question has been scrambled)
  53. 53. Which of the following lists correctly identifies the different levels of strategy that can exist in a business?
    A. Top-level strategy, middle-level strategy and lower level strategy
    B. Corporate strategy, business strategy and functional strategy
    C. Corporate strategy, divisional strategy and work group strategy
    D. Institutional strategy, corporate strategy and business strategy
    E. Growth strategy, retrenchment strategy and stability strategy
    B. Corporate strategy, business strategy and functional strategy
    (this multiple choice question has been scrambled)
  54. 54. __________ focuses on the strategic question: In what industries and markets should we compete?
    A. Environmental strategy
    B. Corporate strategy
    C. Functional strategy
    D. Competitive strategy
    E. Business strategy
    B. Corporate strategy
    (this multiple choice question has been scrambled)
  55. 55. __________ answers the question: How can we best use resources to implement our business strategy?
    A. Operating strategy
    B. Functional strategy
    C. Business strategy
    D. Environmental strategy
    E. Corporate strategy
    B. Functional strategy
    (this multiple choice question has been scrambled)
  56. 56. A __________ strategy involves growth through expansion within the same business area.
    A. related diversification
    B. concentration
    C. diversification
    D. vertical integration
    E. unrelated diversification
    B. concentration
    (this multiple choice question has been scrambled)
  57. 57. A __________ strategy involves growth through the acquisition of, or investment in, new and sometimes different business areas.
    A. vertical integration
    B. diversification
    C. unrelated diversification
    D. related diversification
    E. concentration
    B. diversification
    (this multiple choice question has been scrambled)
  58. 58. __________ involves growth by acquiring new businesses or entering business areas that are related to what the organisation already does.
    A. Unrelated diversification
    B. Vertical integration
    C. Related diversification
    D. Concentration
    E. Forward integration
    C. Related diversification
    (this multiple choice question has been scrambled)
  59. 59. __________ involves growth by acquiring new businesses or entering business areas that are different from what the organisation already does.
    A. Unrelated diversification
    B. Backward integration
    C. Concentration
    D. Vertical integration
    E. Related diversification
    A. Unrelated diversification
    (this multiple choice question has been scrambled)
  60. 60. Diversification through __________ occurs when a business seeks added value creation by acquiring suppliers or distributors.
    A. related diversification
    B. vertical integration
    C. concentration
    D. unrelated diversification
    E. divestiture
    B. vertical integration
    (this multiple choice question has been scrambled)
  61. 61. A __________ is used where changes in the scale and/or mix of operations are implemented in order to gain efficiency and improve performance.
    A. related diversification strategy
    B. backward integration strategy
    C. unrelated diversification strategy
    D. forward integration strategy
    E. restructuring strategy
    E. restructuring strategy
    (this multiple choice question has been scrambled)
  62. 62. Which description of retrenchment is INCORRECT?
    A. Restructuring is sometimes accomplished through downsizing.
    B. Backward integration involves implementing changes in the scale and/or mix of operations in order to gain efficiency and improve performance.
    C. Liquidation is the most extreme form of retrenchment.
    D. Restructuring is a less extreme form of retrenchment.
    E. Restructuring by divestiture involves selling off parts of the organisation to refocus on core competencies, cut costs and improve operating efficiency.
    B. Backward integration involves implementing changes in the scale and/or mix of operations in order to gain efficiency and improve performance.
    (this multiple choice question has been scrambled)
  63. 63. __________ occur(s) when two or more organisations join together in partnership to pursue an area of mutual interest.
    a. Vertical integration
    b. Horizontal integration
    *c. Strategic alliances
    d. Strategic contracts
    e. Organisational collusion
    0
  64. 64. Strategic alliances include which of the following possibilities?
    a. A firm contracting to purchase important services from another organisation
    b. The development of preferred supplier relationships guarantee a smooth and timely flow of quality materials among alliance partners.
    c. Firms joining together for sales and distribution of products or services
    d. All of the above.
    e. None of the above.
    d. All of the above.
  65. 65. A(n) __________ is the strategic use of the Internet to gain competitive advantage.
    A. growth strategy
    B. focused differentiation strategy
    C. incrementalism strategy
    D. e-business strategy
    E. emergent strategy
    D. e-business strategy
    (this multiple choice question has been scrambled)
  66. 66. __________ involve the use of information technology and the Internet to link organisations vertically with members of their supply chains.
    A. O2C strategies
    B. B2C strategies
    C. B2B strategies
    D. O2M strategies
    E. O2B strategies
    C. B2B strategies
    (this multiple choice question has been scrambled)
  67. 67. The major opportunities for developing competitive advantage have traditionally included all of the following EXCEPT
    A. knowledge and timing.
    B. cost and quality.
    C. social progress.
    D. barriers to entry.
    E. financial resources.
    C. social progress.
    (this multiple choice question has been scrambled)
  68. 68. Which one of the following statements does NOT accurately describe an aspect of Michael Porter's generic strategies model?
    A. Porter's generic strategies focus on business-level strategy formulation.
    B. Source of competitive advantage reflects whether the advantage is sought through lower price or product uniqueness.
    C. Market scope measures the breadth or narrowness of the target market.
    D. The market scope and source of competitive advantage variables combine to generate four generic strategies that an organisation can pursue in seeking to gain a strategic advantage.
    E. Porter's generic strategies include stars, cash cows, dogs and question marks.
    E. Porter's generic strategies include stars, cash cows, dogs and question marks.
    (this multiple choice question has been scrambled)
  69. 69. Michael Porter's generic strategies model identifies four fundamental strategies. Which of the following correctly describes these strategies?
    A. Growth, differentiation, incremental and emergent
    B. Growth, retrenchment, vertical integration and stability
    C. Stars, cash cows, dogs and question marks
    D. Differentiation, cost leadership, focused differentiation and focused cost leadership
    E. Introduction, growth, maturity and decline
    D. Differentiation, cost leadership, focused differentiation and focused cost leadership
    (this multiple choice question has been scrambled)
  70. 70. Organisations pursuing a __________ seek a competitive advantage by directing the organisation's resources and attention towards distinguishing its products from those of the competition.
    A. emergent strategy
    B. focused differentiation strategy
    C. focused cost leadership strategy
    D. cost leadership strategy
    E. differentiation strategy
    E. differentiation strategy
    (this multiple choice question has been scrambled)
  71. 71. Organisations pursuing a __________ seek a competitive advantage by concentrating on one special market segment and trying to offer customers in that segment a unique product.
    A. emergent strategy
    B. focused cost leadership strategy
    C. focused differentiation strategy
    D. differentiation strategy
    E. cost leadership strategy
    C. focused differentiation strategy
    (this multiple choice question has been scrambled)
  72. 72. Organisations pursuing a __________ seek a competitive advantage by directing the organisation's resources and attention towards minimising costs to operate more efficiently than the competition.
    A. cost leadership strategy
    B. focused cost leadership strategy
    C. emergent strategy
    D. focused differentiation strategy
    E. differentiation strategy
    A. cost leadership strategy
    (this multiple choice question has been scrambled)
  73. 73. Understanding product life cycles and __________ is an important business skill.
    A. minimising their impact
    B. managing the growth curve
    C. adjusting strategy accordingly
    d. all of the above
    e. none of the above
    C. adjusting strategy accordingly
    (this multiple choice question has been scrambled)
  74. 74. ABC Industries has recently launched a new product. Which of the following strategies would be most appropriate at this stage of ABC's life cycle?
    A. Emphasis on gaining production efficiencies.
    B. Significant investment in advertising and market research.
    C. Defender or analyser strategies.
    d. All of the above statements are accurate.
    e. None of the above statements is accurate.
    B. Significant investment in advertising and market research.
    (this multiple choice question has been scrambled)
  75. 75. Which of the following statements provides an accurate description of the strategies that should be used at different stages of the product life cycle?
    A. In the decline stage, the strategic emphasis shifts towards keeping customers and gaining production efficiencies through focus and/or cost leadership strategies.
    B. During maturity, defender or analyser strategies may appear as strategic planners seek ways to extend product life.
    C. Products in the introduction and growth stages lend themselves to differentiation and prospector strategies, and require investments in advertising and market research to establish a market presence and build a customer base.
    d. All of the above statements are accurate.
    e. None of the above statements is accurate.
    C. Products in the introduction and growth stages lend themselves to differentiation and prospector strategies, and require investments in advertising and market research to establish a market presence and build a customer base.
    (this multiple choice question has been scrambled)
  76. 76. Which statement accurately describes the goal of portfolio planning?
    A. To help managers identify a firm's market share relative to its competitors
    B. To help managers evaluate the market growth rate of a business
    C. To help managers determine the best way to beat the competition
    D. To help managers decide on corporate-level strategy in multibusiness or multiproduct situations
    E. To help managers strategically invest scarce organisational resources among competing business opportunities
    E. To help managers strategically invest scarce organisational resources among competing business opportunities
    (this multiple choice question has been scrambled)
  77. 77. The BCG portfolio planning model uses an analysis of __________ and __________ to identify business opportunities and appropriate business strategies.
    A. product alternatives … forecasted profitability
    B. market share … customer needs
    C. market growth rate … costs of operation
    D. market growth rate … market share
    E. investment alternatives … rates of return
    D. market growth rate … market share
    (this multiple choice question has been scrambled)
  78. 78. In the BCG matrix, a 'star' refers to an organisation or subunit that has
    A. a high market share in a high-growth market.
    B. a low market share in a high-growth market.
    C. a moderate market share in a moderate-growth market.
    D. a high market share in a low-growth market.
    E. a low market share in a low-growth market.
    A. a high market share in a high-growth market.
    (this multiple choice question has been scrambled)
  79. 79. A 'cash cow', as the term is used by the Boston Consulting Group, refers to an organisation or subunit that has
    A. a low market share in a high-growth market.
    B. a moderate market share in a moderate-growth market.
    C. a high market share in a high-growth market.
    D. a low market share in a low-growth market.
    E. a high market share in a low-growth market.
    E. a high market share in a low-growth market.
    (this multiple choice question has been scrambled)
  80. 80. According to the BCG matrix, a 'question mark' refers to an organisation or subunit that has
    A. a high market share in a low-growth market.
    B. a moderate market share in a moderate-growth market.
    C. a low market share in a high-growth market.
    D. a high market share in a high-growth market.
    E. a low market share in a low-growth market.
    C. a low market share in a high-growth market.
    (this multiple choice question has been scrambled)
  81. 81. The __________ is an alternative portfolio planning approach that uses the planning dimensions of business strength and industry attractiveness.
    A. GE Business Screen
    B. incrementalism screen
    C. Miles and Snow adaptive model
    D. corporate governance screen
    E. emergent strategies model
    A. GE Business Screen
    (this multiple choice question has been scrambled)
  82. 82. Which of the following statements does NOT accurately describe the GE Business Screen?
    A. Both business strength and industry attractiveness are categorised as low, medium and high.
    B. Business strengths reflect market share, technological advantage, product quality, operating costs and price competitiveness.
    C. Combining the business strength and industry attractiveness variables yields a nine-cell matrix that identifies business units as 'stars', 'question marks', 'cash cows' or 'dogs'.
    D. Industry attractiveness reflects market size and growth, capital requirements and competitive intensity.
    E. It uses the planning dimensions of business strength and industry attractiveness.
    C. Combining the business strength and industry attractiveness variables yields a nine-cell matrix that identifies business units as 'stars', 'question marks', 'cash cows' or 'dogs'.
    (this multiple choice question has been scrambled)
  83. 83. The Miles and Snow adaptive model emphasises that organisations should pursue strategies that
    A. are congruent with the nature of their external environments.
    B. allow an organisation to make decisions incrementally.
    C. minimise the strengths and weaknesses of the organisation.
    D. give the organisation cost leadership or product/service differentiation.
    E. consider the organisation's market share and growth position.
    A. are congruent with the nature of their external environments.
    (this multiple choice question has been scrambled)
  84. 84. An organisation is following a(n) __________ strategy when it avoids change by emphasising existing products and current market share without seeking growth.
    A. analyser
    B. defender
    C. turnaround
    D. prospector
    E. focus
    B. defender
    (this multiple choice question has been scrambled)
  85. 85. An organisation is following a(n) __________ strategy when it pursues innovation and new opportunities in the face of risk and with prospects for growth.
    A. reactor
    B. prospector
    C. defender
    D. turnaround
    E. analyser
    B. prospector
    (this multiple choice question has been scrambled)
  86. 86. An organisation is following a(n) __________ strategy when it simply responds to competitive pressures in order to survive.
    A. reactor
    B. analyser
    C. prospector
    D. defender
    E. focus
    A. reactor
    (this multiple choice question has been scrambled)
  87. 87. __________ is the view that strategies take shape, change and develop over time as modest and gradual adjustments result from managers' learning and experience.
    A. The BCG matrix
    B. Portfolio management
    C. Incrementalism
    D. Strategic planning
    E. Suboptimisation
    E. Suboptimisation
    (this multiple choice question has been scrambled)
  88. 88. __________ develop(s) progressively over time as managers make 'streams' of decisions while they learn from and respond to work situations.
    A. Incrementalism
    B. Strategic opportunism
    C. Incremental strategies
    D. The managerial learning curve
    E. Emergent strategies
    E. Emergent strategies
    (this multiple choice question has been scrambled)
  89. 89. Current issues in the proper implementation of strategy include
    a. re-emphasis on excellence in all management systems and practices.
    b. the importance of strategic leadership.
    c. the responsibilities of corporate governance.
    d. All of the above
    e. None of the above
    d. All of the above
  90. 90. Successful strategies share several essential features. Which of the following is NOT one of these essential features?
    A. Every strategy requires leaders who can energise people and build performance commitments.
    B. Every strategy requires leaders who can use teams and teamwork to the best advantage.
    C. Every strategy requires leaders who are willing to take extraordinary risks on behalf of the organisation.
    D. Every strategy requires supporting structures, well-designed tasks and workflows, and the right people.
    E. The entire organisation and all of its resources must be mobilised in support of the strategies.
    C. Every strategy requires leaders who are willing to take extraordinary risks on behalf of the organisation.
    (this multiple choice question has been scrambled)
  91. 91. Paying inadequate attention to the analysis of mission and purpose, core values and corporate culture, organisational strengths and weaknesses, and environmental opportunities and threats constitutes a strategic planning pitfall known as
    A. failures of substance.
    B. failures of management foresight.
    C. failures of corporate governance.
    D. failures of process.
    E. failures of strategic leadership.
    A. failures of substance.
    (this multiple choice question has been scrambled)
  92. 92. Senior managers at ACME Corportation do not currently have a formal role in company strategic planning . Instead they rely on the planning department to perform all strategic planning tasks. This is a
    A. failures of corporate governance.
    B. failures of strategic leadership.
    C. failures of process.
    D. failures of substance.
    E. failures of management foresight.
    C. failures of process.
    (this multiple choice question has been scrambled)
  93. 93. Poor handling of the ways in which various aspects of strategic planning are accomplished constitute a strategic planning pitfall known as
    A. failures of management foresight.
    B. failures of process.
    C. failures of strategic leadership.
    D. failures of corporate governance.
    E. failures of substance.
    B. failures of process.
    (this multiple choice question has been scrambled)
  94. 94. Today's organisations are experiencing new pressures from boards of directors and other major stakeholder representatives. The pressures from these groups focus on
    A. corporate governance.
    B. corporate mandates.
    C. shareholder control.
    D. governmental interference.
    E. corporate management.
    A. corporate governance.
    (this multiple choice question has been scrambled)
  95. 95. __________ is the system of control and performance monitoring of top management that is maintained by boards of directors and other major stakeholder representatives.
    A. Corporate performance review
    B. Corporate performance auditing
    C. Top management oversight
    D. Corporate governance
    E. Stakeholder oversight
    D. Corporate governance
    (this multiple choice question has been scrambled)
  96. 96. In corporate governance, controversies often arise over the roles of ________ and ________.
    A. internal customers … external customers
    B. stakeholders … shareholders
    C. inside directors … outside directors
    D. managers … non-management employees
    E. customers … suppliers
    C. inside directors … outside directors
    (this multiple choice question has been scrambled)
  97. 97. __________ refers to a leader's capability to enthuse people to successfully engage in a process of continuous change, refinement and implementation of organisational strategies.
    A. Transactional leadership
    B. Transformational leadership
    C. Visionary leadership
    D. Strategic leadership
    E. Change leadership
    D. Strategic leadership
    (this multiple choice question has been scrambled)
  98. 98. Which of the following is not one of the critical tasks of strategic leadership?
    A. Be a great communicator by keeping the message simple and focused on the firm's strategic priorities.
    B. Be a teacher by conveying the strategy and making it a cause.
    C. Create a sense of urgency by not allowing the organisation and its members to grow slow and complacent.
    D. Be a guardian of tradeoffs by ensuring that the organisation's resources are allocated in ways consistent with the strategy.
    E. Ensure that top management understands the strategy so that they can direct their subordinates in carrying it out.
    B. Be a teacher by conveying the strategy and making it a cause.
    (this multiple choice question has been scrambled)

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