Business Policy Quiz 2
List 3 things to look for in a mentor:
1. High Standards 2. Nurturing Attitude 3. Exemplifies the best of the company culture
The overall aim of the balance scorecard is to balance financial objectives with strategic objectives
FALSE
A SWOT matrix is composed of 4 cells for the 4 types of strategies it creates
False
Career development is best viewed as a vertical ladder
False
Cash cows represent the organizations best long-run opportunities for growth and profitablity
False
Diversiture is selling all of a company's assets, in parts, for their tangible worth
False
Focusing on Higher-Order issues means it is often possible to acheive similar results using different means or paths
False
Job Specific Skills limit your mobility and make you easier to fire
False
There are four basic types of diversification: concentric, conglomerate, forward, and backward
False
The act of oversight and direction for an organization is referred to as
Governance
It's easy to change your skills sets compared to your core business interest
True
Managing one's career requires that you view your professional development as a path rather than a point or a job
True
Shifting focus from specific issues to more general ones may increase strategists' options for gaining organizational commitment
True
The first strategy of the strategy-formulation framework is the input stage, followed by the decision stage
False
What tactic involves shifting focus from specific issues to more general ones?
Generalization
Which stage of the strategy formulation framework includes an Internal Factor Evaluation Matrix and a Competitive Profile Matrix
Input
Today, what are boards of directors composed mostly of?
Outsiders
Which strategy would be most appropriate for a company classified as a dog?
Retrenchment
which of these strategies is effective when the number of suppliers is small and the number of competitors is large?
Backward integration
Financial Objectives involve all of the following except
Larger market share
Horizontal integration is seeking ownership or increased control over competitors
TRUE
Which section of the SWOT matrix involves matching internal strengths with external opportunities
The SO cell
A strategy of seeking ownership or increased control of a firm's suppliers is backwards integration
True
An organization's present strategies, objectives and mission provide a basis of 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 writing skills, and sales skills
True
objectives provide direction and allow for organizational synergy
True
All of the following are principles of good organizational governance, as established by Business Week, except
at least 2 directors are current or former company executives
An organization that has a low relative market share position and competes in a slow-growth industry is referred to as a
dog
All of the following are important factors in the Balanced Scorecard except:
stockholder equity
Strategic objectives include larger market share, quicker on-time delivery than rivals, quicker design-to-market times than rivals, lower costs than rivals,and wider geographic coverage
true