426 Exam
Which of the following analytical tools consists of a nine-cell matrix
Internal-External Matrix
Which of these is a limitation of QSPM
It requires intuitive judgements and educated assumptions
Which of the following is the first step in developing a QSPM
Make a list of the firm's key external opportunities and threats and internal strengths and
Which stage in the strategy-formulation framework focuses on generating feasible alternative strategies
Matching
Which management function includes breaking tasks into jobs, combining jobs to form departments, and delegating authority?
Organizing
What is the essential bridge between the present and the future that increases the likelihood of achieving desired results?
Planning
Which of the following does the text call an up-front investment in success
Planning
Which strategy-formulation technique reveals the relative attractiveness of alternative strategies and thus provides and objective
QSPM
IKEA Group investing $1.9 billion in India to open 25 new stores between 2013 and 2018 is an example of
market development
Which strategy seeks to increase market share for present products or services in present markets through greater market
market penetration
Opportunity analysis is on of the basic functions of
marketing
In most industries, the major costs of producing a product or service are incurred within
operations
The three all-encompassing internal resource categories used in the resource-based view are physical resources
organizational resources
Today, boards of directors are composed mostly of
outsiders
Which strategy is appropriate when an organization competes in an industry characterized by rapid technology
product development
Which strategy should be an organization use when its products are currently in the declining stage of the product's life cycle?
related diversification
Who would perform and internet audit
representative managers and employees from throughout the firm
Revlon closing its manufacturing plant in France and laying off 5 percent of its workforce is an example of
retrenchment
Forward integration would be an appropriate strategy for which of the following types of divisions in the BCG Matrix
star
Strategy analysis and choice largely involves making _______ decisions based on ________ information
subjective, objective
Which section of the SWOT Matrix involve matching internal strategies with external opportunities
the SO cell
FedEx entering the computer repair business offering major corporations overnight computer repair is an example of
unrelated diversification
Many firms have failed at ________ that have succeeded due to the immense challenge of
unrelated diversification
All of the following situations are conductive to market development EXCEPT
when new channels of distribution are expensive and unreliable
Backward integration is effective in all of these cases EXCEPT
when the advantages of stable prices are not important
In the BCG Matrix, which element represents the industry growth rate in sales, measured in percentage terms?
y-axis
Long-term objectives are needed at which level(s) in an organization
All of the above
________, perhaps the most important word in management, is a major component in motivation
Communication
Which term refers to selling a division of an organization
Divestiture
Which of the following is NOT a key question that can reveal internal strengths and weaknesses of the marketing
Does the firm have good liquidity?
The two positive-rated dimensions on the SPACE Matrix are
FP and IP
Which of the following is NOT a reason joint ventures fail
Stakeholders from both partners are equally satisfied
In which situation would horizontal integration be an especially effective strategy
When an organization can gain monopolistic characteristics in a particular area or region
Under which condition would a cost leadership strategy be especially effective
When the products of rival sellers are essentially identical and supplies are
According to journalist's findings, what is a serious obstacle for many small business owners
a lack of strategic-management knowledge
All of the following are key questions that can reveal internal strengths and weaknesses in management
are the organization's products positioned well against competing products
All of the following are principals of good organizational governance, as established by Businessweek, Ex
at least three directors are current or former company executives
Bankruptcy
can be an effective type of retrenchment strategy
In the BCG Matrix, a division with a high relative market share position in a low-growth industry can be described as a
cash flow
The BCG Matrix is designed specifically to enhance which type of firm's efforts to formulate strategy
companies with more than one division
The IFE Matrix should be ______ in multidivisional firms
constructed for each division
What strategy would divestiture be classified as
defensive
A firm's strengths that cannot be easily matched or imitated by competitors are called
distinctive competencies
The initial step to implementing value chain analysis is
dividing a firm's operations into specific activities or business processes
The first step in the controlling function of management is to
establish performance standards
For companies located in Quadrant III of the Grand Strategy Matrix, the first strategy recommended is
extensive cost and asset reduction
According to Porter, which strategy offers products or services to a niche group of customers at the lowest price avaliable
focus- low cost
What analytical tool has four quadrants based on two dimensions: competitive position and market growth
grand strategy matrix
___________ ties all business functions together and provides the basis for all managerial decisions
information
Financial objects involve all of the following EXCEPT
larger market share