Strategic Management Quiz A2

If total fixed costs are $10,000, variable costs per unit are $5, and the price per unit is $15, what is the breakeven quantity?

1,000

Which ratio would be considered an activity ratio?

Average collection period

Which of the following is NOT a published source of external strategic information?

Customer surveys

Which of the following is NOT a key question that can reveal internal strengths and weaknesses regarding a firm's marketing function?

Does the firm have good liquidity?

Which of the following are NOT mentioned as an example of cultural products?

Emotions

External audits attempt to identify key variables that offer highly intuitive responses.

False

________ is NOT a basic mission of a competitive intelligence program

Identifying industry executives who could be hired by the firm

Who are the world's longest-living people?

Japanese

Which management function includes breaking tasks into jobs, combining jobs to form departments, and delegating authority?

Organizing

What marketing function includes test marketing?

Product and service planning

Who should perform an internal audit?

Representative managers and employees from throughout the firm

What is the term for a historical narrative describing the unique accomplishments of a group and its leaders?

Saga

When using External Factor Evaluation (EFE) Matrix, what is done after multiplying each factor's weight by its rating to determine a weighted score?

Summing the weighted scores for each variable to determine the total weighted score for the organization

In recent times, which of the following has largely refrained from protectionist measures?

The United States

In an EFE Matrix, opportunities often receive higher weights than threats, but threats too can receive high weights if they are especially severe or threatening.

True

A ________ integration strategy is used by firms to gain control or ownership of suppliers

backward

An effective information management system ________ information in such a way that it answers important operating and strategic questions.

collects codes stores synthesizes All of these (answer)

The investor relations pages of a company website ________ information about a firm.

is a good place to start to find

The historical trend of people moving from ________ has dramatically slowed.

the Northeast to the Sunbelt

Life-directing attitudes that serve as behavioral guidelines are called

values