Biz Policy Quiz 2

List 3 things things to look for in a mentor

1) Nurturing Attitude 2) High Standards 3) Can empathize with you

An organization that has a low relative market share position and competes in a slow growth industry is referred to as a

Dog

Career Development is best viewed as a vertical ladder

False

Cash cows represent the organizations best long run opportunities for growth and profitability

False

Focusing on Higher Order Issues means it is often possible to achieve similar results using different means or paths

False

Job specific skills limit your mobility and make you easier to fire

False

The first stage of the strategy formulation framework is the input stage, followed by the decision stage

False

Horizontal integration is seeking ownership of increased control over competitors

True

It's easy to change your skill sets compared to your core business interest

True

Managing one's career requires hat you view your professional development as a path or direction, rather than a point or a job

True

Objectives provide direction and allow for organizational synergy

True

Shifting focus from specific issues to more general ones may increase strategists options for gaining organizational commitment

True

Strategic objectives include larger market share, quicker on time delivery... wider geographic coverage than rivals

True

Divesture is selling all of a company's assets, in parts, for their tangible worth

False

The overall aim of the Balanced Scorecard is to balance financial objectives with strategic objectives

False

There are four basic types of diversification: concentric, conglomerate, forward, and backward

False

a SWOT Matrix is composed of four cells for the four types of strategies it creates

False

Which strategy would be most appropriate for a company classified as a Dog?

Forward integration

What tactic involves shifting focus from specific issues to more general ones?

Generalization

The act of oversight and direction for an organization is referred to as: A) Organizational Direction B) Establishing Norms C) Governance D) Centralized Control E) Corporate law making

Governance

Which stage of the strategy formulation framework includes an Internal Factor Evaluation Matrix and a Competitive Profile Matrix A) Decision B) Research C) Matching D) Input E) Penetration

Input

Which section of the SWOT Matrix involves matching internal strengths with external opportunities? A) ST Cell B) SO Cell C) WT cell D) WO cell E) SW cell

SO cell

All of the following are principles of good organizational governance, as established by Business Week, except: A) no directors do business with the company or accept consulting or legal fees from the firm B) the CEO is is not also the Chairperson of the Board C) at least two directors are current or former company executives D) the audit, compensation, and nominating committees are made up solely of outside directors E) each director owns a large equity stake in the company, excluding stock options

At least two directors are current or former company executives

Which of these strategies is effective when the number of suppliers is small and the number of competitors is large? A) Forward Integration B) Conglomerate Integration C) Concentric integration D) Horizontal diversification E) Backward integration

Backward integration

A strategy of seeking ownership or increased control of a firm's supplier is backward integration

True

An organization's present strategies, objectives and mission provide a basis for generating and evaluating feasible alternative strategies, coupled with the external and internal audit information

True

Examples of Transferrable Skills would be good with people, good with writing skills, and sales skills

True

Financial objectives involve all of the following except: A) Greater return on investment B) growth in revenues C) a rising stock price D) higher dividends E) larger market share

larger market share

Today, what are boards of directors composed mostly of?

outsiders

All of the following are important factors in the Balanced Scorecard except: A) employee morale B) business ethics C) stockholder equity D) product quality E) customer service

product quality