MGT 4810 Final

Collection of firms that offer similar products or services A. Industry B. Structural attributes C. Concentration D. Barriers to entry

A. Industry

Cultural conditioning, demographic makeup, religion, education, and ethnic conditioning are all part of ___ factors A. Social B. Political C. Economic D. Ecological

A. Social

Common to all the approaches to internal analysis is that it can be A. The use of meaningful standards for comparison in internal analysis B. The use of external factors of analysis C. The process point of view D. Management market myopia

A. The use of meaningful standards for comparison in internal analysis

Strategic decisions are based on what managers ___, rather than on what they ___. A. forecast, know B. react to, anticipate C. know, forecast D. compromise with, analyze

A. forecast, know

Company reputation is an example of a A. intangible asset B. tangible asset C. organizational capability D. organizational function

A. intangible asset

Strategic Events may be classified into four distinctive types A. major new product announcements, mergers, changes in the top leadership team, corporate restructurings of positions and titles B. product enhancement, mergers, changes in the top leadership team, corporate restructurings of positions and titles C. major new product announcements, mergers, changes in middle management, corporate restructurings of positions and titles D. product enhancements, mergers, changes in middle management, corporate restructuring of positions and titles

A. major new product announcements, mergers, changes in the top leadership team, corporate restructurings of positions and titles

Which of the following is NOT a strategic disadvantage of the divisional organizational structure A. makes policy consistency a known standard B. increases costs incurred through duplicate functions C. creates difficulty maintaining overall corporate image D. fosters potentially dysfunctional competition for corporate-level resources

A. makes policy consistency a known standard

To achieve long-term prosperity, strategic planners commonly establish objectives in which of the following? A. profitability, employee relations, and social responsibility B. acceptibility C. flexibility D. joint ventures only

A. profitability, employee relations, and social responsibility

A properly constructed Balanced Scorecard is balanced between: A. short and long-term measures B. stakeholder financial measures C. organizational and stakeholder performance perspectives D. pricing and packaging on the firm's products

A. short and long-term measures

One of the limitations of the SWOT analysis is that it can be A. static B. dynamic C. simple D. complex

A. static

Strategic Events are defined as A. those events that change the direction of the company and the effects of which cannot be easily reversed B. things that are newsworthy C. any event listed in the public relations section of a company website D. those events the company participates in to promote social responsibility

A. those events that change the direction of the company and the effects of which cannot be easily reversed

A perspective in which business is seen as a chain of activities that transforms inputs into outputs that customers value is called: A. value chain B. three-circles analysis C. resource-based D. process division

A. value chain

What are company actions that produce more useful goods and services while continuously reducing resource consumption and pollution? A. Technological Forecasting B. Eco-efficiency C. Cultural Conditioning D. Outsourcing

B. Eco-efficiency

Fair trade decisions, antitrust laws, tax programs, minimum wage legislation, pollution and pricing policies, and administrative jawboning are all part of ___ factors A. Social B. Political C. Economic D. Ecological

B. Political

The enduring characteristics that give an industry its distinctive character A. Industry B. Structural attributes C. Concentration D. Barriers to entry

B. Structural attributes

Major changes in the way things are made, technology, and other industry changing inventions are all part of ___ factors. A. Social B. Technological C. Economic D. Ecological

B. Technological

Striving to create and market unique products for varied customer groups is called: A. cost leadership B. differentiation C. focus D. concentrated growth

B. differentiation

What have strategists sought in frameworks besides SWOT for conducting internal analysis? A. less detail from other frameworks B. frameworks be more comprehensive C. less generic framework D. better account for internal factors in light of external factors

B. frameworks be more comprehensive

Creating a new-product life cycle is the underlying philosophy of a grand strategy of A. product development B. innovation C. horizontal integration D. market development

B. innovation

Which of the following are intended to provide benchmarks for the evaluation of the company's progress in achieving its aims? A. mission B. long-term objectives C. grand strategies D. business policies

B. long-term objectives

Which of the following statements is true? A. the faster a resource depreciates, the more valuable it is B. the slower a resource depreciates, the more valuable it is C.the larger a resource, the more slowly it depreciates D. Intangible assets can have their depletion measured easily

B. the slower a resource depreciates, the more valuable it is

Strategic issues require which level of management decisions? A. operative B. top C. front-line D. middle

B. top

The extent to which industry sales are dominated by only a few firms A. Industry B. Structural attributes C. Concentration D. Barriers to entry

C. Concentration

Prime interest rates, inflation rates, gross national product trends, unemployment rates, globalization of the economy, and outsourcing are all part of ___ factors A. Social B. Political C. Economic D. Ecological

C. Economic

A broadly framed but enduring statement of a firm's intent is the A. company philosophy B. company creed C. company mission statement D. company vision statement

C. company mission statement

A strategy reflects a company's awareness of how, when and where it should ___, against whom it should ___ and for what purpose it should ___. A. cooperate B. ally C. compete D. plan

C. compete

Attracting competitor's customers encompasses A. decreasing promotional efforts B. establishing sharper brand similarities C. initiating price cuts D. increasing purchase size

C. initiating price cuts

Product teams A. can tend to show down innovation B. reduce costs associated with design, manufacturing, and marketing C. place an absolute limit on customer responsiveness D. are temporary structures

C. place an absolute limit on customer responsiveness

SWOT analysis' value and continued use is found in its: A. complexity B. difficulty C. simplicity D. short-sighted nature

C. simplicity

The obstacles that a firm must overcome to enter an industry A. Industry B. Structural attributes C. Concentration D Barriers to entry

D Barriers to entry

Loss of habitat and biodiversity, environmental legislation, and eco-efficiency are all part of ___ factors A. Social B. Technological C. Economic D. Ecological

D. Ecological

Which of the following is a useful framework against which to examine a firm's potential strengths and weaknesses in a given industry? A. isolating mechanisms B. the value chain C. organizational capabilities D. Porter's Five Forces

D. Porter's Five Forces

Components of a mission statement are A. unique competencies, market scope, and product scope B. philosophy, geographic domain, concern for survival C. quality, concern for public image, technology D. all of the above

D. all of the above

Some companies choose to not have a mission statement because A. they have a level of comfort and complacency in their current position B. they believe mission statements reveal too much information C. they believe it takes too much work to develop an effective mission statement D. all of the above

D. all of the above

When the principal or sole consideration of the acquiring firm is the profit pattern of the venture, the grand strategy is usually one of A. innovation B. horizontal integration C. concentric diversification D. conglomerate diversification

D. conglomerate diversification

At Office Supply, ___ level managers would be responsible for determining whether the company should involved in home furnishings or electronic appliance businesses, whereas ___ level managers would be responsible for determining how the firm will compete in the selected product-market arena A. business, corporate B. corporate, functional C. functional, business D. corporate, business

D. corporate, business

Delegation ___ in response to varied competitive environments A. slows decision making B. is a form of outsourcing C. increases the management levels necessary D. expedites decision making

D. expedites decision making

If a textile producer acquires a shirt manufacturer, this is called A. vertical horizontal acquisition B. backward horizontal acquisition C. backward vertical acquisition D. forward vertical acquisition

D. forward vertical acquisition

The acquisition of one or more businesses at the same stage of the production marketing chain is an example of A. market development B. product development C. innovation D. horizontal acquisition

D. horizontal acquisition

The matrix structure A. is easy to design and easy to implement B. is difficult to design and difficult to implement C. in difficult to design but easy to implement D. is easy to design but difficult to implement

D. is easy to design but difficult to implement

Intense supervision of labor is a commonly required skill for which on of Micheal Porter's generic strategies? A. differentiation B. market development C. product development D. low cost leadership

D. low cost leadership

Marketing present products, often with only cosmetic modification, to customers in related market areas describes: A. diversification B. concentrated growth C. product development D. market development

D. market development