Chapter 6 Quiz MGMT 3370

2. Chapter b Multiple Choice 06-030, Section b Multiple Choice 06-030, Problem b Multiple Choice 06-030 Organizations can achieve a _____ by using their resources to provide greater value for customers than competitors can. a. competitive advantage b. competitive inertia c. strategic dissonance d. strategic reference point e. distinctive competence

A

23. Chapter b Multiple Choice 06-094, Section b Multiple Choice 06-094, Problem b Multiple Choice 06-094 A company that is seeking to grow by taking risks and looking for innovations is best characterized as a(n) _____. a. prospector b. reactor c. analyzer d. defender e. innovator

A

24. Chapter b Multiple Choice 06-099, Section b Multiple Choice 06-099, Problem b Multiple Choice 06-099 _____ is the rivalry between two companies that offer similar products and services, acknowledge each other as rivals, and act and react to each other's strategic actions. a. Direct competition b. Differentiation c. Competitive inertia d. Distinctive competence e. Character of the rivalry

A

9. Chapter b Multiple Choice 06-055, Section b Multiple Choice 06-055, Problem b Multiple Choice 06-055 In the context of the strategic reference point theory, the _____ strategy aims to protect an existing competitive advantage. a. risk-avoiding b. divesting c. deskilling d. risk-seeking e. risk-extension

A

1. Chapter b Multiple Choice 06-029, Section b Multiple Choice 06-029, Problem b Multiple Choice 06-029 ______ are the assets, capabilities, processes, information, and knowledge that an organization uses to improve its effectiveness and efficiency, to create and sustain competitive advantage, and to fulfill a need or solve a problem. a. Grand strategies b. Resources c. Competitive advantages d. Strategic stances e. Distinctive competencies

B

10. Chapter b Multiple Choice 06-058, Section b Multiple Choice 06-058, Problem b Multiple Choice 06-058 Which of the following is an example of a common approach to corporate-level strategy? a. Adaptive strategies b. Grand strategies c. ROI strategies d. Positioning strategies e. Focus strategies

B

20. Chapter b Multiple Choice 06-085, Section b Multiple Choice 06-085, Problem b Multiple Choice 06-085 _____ is the measure of the intensity of competitive behavior between companies in an industry. a. Anti-competitiveness b. Character of the rivalry c. Character of culture d. Competitive barrier e. Process gain

B

3. Chapter b Multiple Choice 06-034, Section b Multiple Choice 06-034, Problem b Multiple Choice 06-034 A _____ resource is a resource that is not controlled or possessed by many competing firms. a. substitutable b. rare c. slack d. capital e. perfectly imitable

B

7. Chapter b Multiple Choice 06-047, Section b Multiple Choice 06-047, Problem b Multiple Choice 06-047 Which of the following is an example of core capabilities of an organization? a. The organization's customer share. b. The organization's skill in maintaining large inventories effectively. c. The organization's balance sheet. d. The organization's overhead costs. e. The popularity of products and services sold by the organization

B

12. Chapter b Multiple Choice 06-060, Section b Multiple Choice 06-060, Problem b Multiple Choice 06-060 _____ is defined as the purchase of a company by another company. a. Differentiation b. Recovery c. Acquisition d. Diversification e. Downsizing

C

13. Chapter b Multiple Choice 06-063, Section b Multiple Choice 06-063, Problem b Multiple Choice 06-063 The _____ is a portfolio strategy that managers use to categorize their corporation's businesses by growth rate and relative market share. This strategy helps them to decide how to invest corporate funds. a. portfolio management matrix b. investment matrix c. BCG matrix d. Maslow grid e. SWOT matrix

C

15. Chapter b Multiple Choice 06-073, Section b Multiple Choice 06-073, Problem b Multiple Choice 06-073 The purpose of a _____ strategy is to increase profits, revenues, market share, or the number of places (stores, offices, locations) in which the company does business. a. divestment b. niche c. growth d. recovery e. retrenchment

C

4. Chapter b Multiple Choice 06-039, Section b Multiple Choice 06-039, Problem b Multiple Choice 06-039 The strategy-making process begins with: a. satisficing. b. a situation analysis. c. the assessment of the need for strategic change. d. the finalization of strategic alternatives. e. the evaluation of alternatives.

C

6. Chapter b Multiple Choice 06-045, Section b Multiple Choice 06-045, Problem b Multiple Choice 06-045 A _____ is an assessment of the strengths and weaknesses in an organization's internal environment and the opportunities and threats in its external environment. a. firm-level strategy b. differentiation analysis c. situational analysis d. market audit e. competitive deskilling

C

Resource similarity and _____ are factors that determine the extent to which firms will be in direct competition with each other. a. resource quality b. related diversification c. market commonality d. product differentiation e. customer autonomy

C

19. Chapter b Multiple Choice 06-084, Section b Multiple Choice 06-084, Problem b Multiple Choice 06-084 Which of the following is NOT one of the five industry forces that determine an industry's overall attractiveness and potential for long-term profitability? a. Character of the rivalry b. Bargaining power of suppliers c. Threat of substitute products d. Organizational synergy e. Bargaining power of buyers

D

21. Chapter b Multiple Choice 06-089, Section b Multiple Choice 06-089, Problem b Multiple Choice 06-089 _____ strategies typically work in market niches that competitors have overlooked or have difficulty serving. a. Mass production b. Entropy c. Deskilling d. Focus e. Unrelated diversification

D

8. Chapter b Multiple Choice 06-051, Section b Multiple Choice 06-051, Problem b Multiple Choice 06-051 _____ are the central companies in a strategic group. a. Cash cows b. Dogs c. Question marks d. Core firms e. Secondary firms

D

11. Chapter b Multiple Choice 06-059, Section b Multiple Choice 06-059, Problem b Multiple Choice 06-059 _____ is a strategy for reducing risk by buying a variety of items so that the failure of one stock or one business does not doom the entire portfolio. a. Acquisition b. Recovery c. Differentiation d. Strategic dissonance e. Diversification

E

14. Chapter b Multiple Choice 06-068, Section b Multiple Choice 06-068, Problem b Multiple Choice 06-068 The research on diversification in portfolio management indicates that the best approach is probably _____. a. unrelated diversification b. repositioning c. related differentiation d. divestiture e. related diversification

E

5. Chapter b Multiple Choice 06-043, Section b Multiple Choice 06-043, Problem b Multiple Choice 06-043 _____ is a discrepancy between a company's intended strategy and the strategic actions managers take when actually implementing that strategy. a. Differentiation discrepancy b. Cstomer inertia c. Competitive inertia d. Competitive dissonance e. Strategic dissonance

E

18. Chapter b Multiple Choice 06-082, Section b Multiple Choice 06-082, Problem b Multiple Choice 06-082 A(n) _____ strategy is a corporate strategy that addresses the question "How should we compete in this line of business?" a. industry-level b. firm-level c. operations-level d. SBU-level e. niche-specific

a

17. Chapter b Multiple Choice 06-079, Section b Multiple Choice 06-079, Problem b Multiple Choice 06-079 _____ consists of the strategic actions that a company takes to return to a growth strategy. a. Stability b. Recovery c. Focus d. Differentiation e. Portfolio

b

16. Chapter b Multiple Choice 06-075, Section b Multiple Choice 06-075, Problem b Multiple Choice 06-075 Companies often choose a _____ strategy when their external environment doesn't change much or after they have struggled with periods of explosive growth. a. portfolio b. pioneering c. stability d. growth e. retrenchment

c