1. What question must managers ask concerning the relationship between economic logic and international strategy?
How does our international strategy contribute to the economic logic of our business and corporate strategies?
Which geographic areas will we enter?
Which international market-entry strategies will we use?
How does being international make our products more attractive to our customers?
2. Executives with a particular mix of skills and experiences may be classified as an executive type and paired with
a specific personal characteristic
a certain educational background
a specific corporate strategy
a specific experience background
3. Which company experienced a tarnished reputation and scandal after experiencing behavior substitution when employees altered their behavior on the job to fit the reward system?
Sears, Roebuck, & Co.
Macy's
Neiman Marcus
Saks
4. An acronym for the assessment of the external and internal environments of the business corporation in the process of strategy formulation/strategic planning is
S.B.U.
S.W.O.T.
R.O.I.
M.B.O.
5. Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is
basic financial planning
forecast-based planning
internally-oriented planning
externally-oriented planning
6. Which is the MOST commonly used measure of corporate performance (in terms of profit)?
ROE
DPS
EPS
ROI
7. In the development of a SFAS matrix, the first step is to
indicate short-term for the duration
list the most important EFAS and IFAS items
calculate the weighted scores
enter the ratings of how the company's management is responding to each of the strategic factors
8. The strategy that deals with product and process innovation and improvement is known as a __________ strategy.
marketing
financial
operations
R&D
9. According to the text, what is the "key" to effective management of change in culture?
Evaluation
Communication
Staffing
Operationalization
10. Who said that the social responsibility of business is a "fundamentally subversive doctrine" and that the one social responsibility of business is "to use its resources and engage in activities designed to increase its profits so long as it stays with the rules of the game..."?
William C. Norris
Adam Smith
Milton Friedman
Archie Carroll
11. The strategy implementation tool used to determine what actions are going to be taken, by whom, during what time frame, and with what expected results is called a(n)
mission statement
action plan
MBO
succession plan
12. Which strategy specifies the firm's overall direction in terms of its general orientation toward growth, the industries or markets in which it competes, and the manner in which it coordinates activities and transfers resources among business units?
Corporate
Organizational
Divisional
Functional
13. Suboptimization occurs when
a division or functional unit views itself as a separate entity and refuses to cooperate with other divisions or units to the detriment of the organization as a whole
managers tend to focus more of their attentions on those aspects which are measurable than on those which are not
there is a failure to produce at or near full capacity
individuals are placed into positions not suited to their abilities
14. Who typically implements strategy in large, multi-industry corporations?
Everyone in the organization
First level management
Middle management
The board of directors
15. Which strategy is developed to pull together the various activities and competencies of each department so that corporate and business unit performance improves and resource productivity is maximized?
Competitive strategy
Functional strategy
Business strategy
Enterprise strategy
16. The process by which a firm approaches its cross-border activities and those of competitors, and plans to approach them in the future, is called
competitive strategy
staging
international strategy
cross-border configuration
17. Continuous improvement is an operations concept developed in
Sweden
the United States
Germany
Japan
18. In a survey of 50 corporations, which of the following was rated as a benefit of strategic management?
Higher levels of job satisfaction
Higher levels of employee motivation
Clearer sense of vision for the firm
Improved productivity
19. The technique that illustrates how management can match the external opportunities and threats with its strengths and weaknesses to yield four sets of strategic alternatives is called a (an)
EFAS Table
TOWS Matrix
SFAS Table
IFAS Table
20. Strategic planning in a multidivisional corporation
should be a formalized and sophisticated system.
should encourage a clear delineation between top management and lower-level managers.
should be instigated only from the main corporate office.
should be accomplished quickly to decrease the likelihood of it becoming outdated.
21. The end result of activity is known as
measurement
performance
return on equity
gratuity
22. The hiring of new people with new skills, firing of people with inappropriate or substandard skills, and/or training existing employees to learn new skills are included the process of
training
structuring
staffing
operating
23. The concept that proposes private corporations have responsibilities to society that extend beyond making a profit is known as
managerial responsibility
flexible responsibility
social flexibility
social responsibility
24. When a company determines a competency's competitive advantage, Barney refers to this issue as
imitability
value
organization
rareness
25. One reason environmental uncertainty is a threat to strategic managers is because
it forces the strategic manager to be reactive.
the strategic manager cannot control the environment.
it is a costly and consuming process.
it hampers their ability to develop long-range plans.
26. If performance data and activity reports indicate undesirable performance as a result of inappropriate use of the strategic management process, operational managers must
immediately notify the board of directors.
know about it so that they can correct the employee activity.
allow sufficient time to pass to verify if it is the process or just the usage that is the problem.
change the strategic management model.
27. The relationship among the board of directors, top management, and shareholders is referred to as
corporate synergy
corporate strategy
corporate governance
corporate management
28. Because of the belief that accounting-based numbers such as ROI, ROE, and EPS are not reliable indicators of a corporation's economic value, which method of corporate performance is now preferred?
Basic earning power
Shareholder value
Profit margin on sales
Price/earnings ratio
29. According to Porter, the corporation is most concerned with
the amount of pressure from the societal environment
the aggregate level of demand for a product line
the intensity of competition within its industry
a market's position on its life cycle
30. The sum total of the activities and choices required for the execution of a strategic plan is known as in
evaluation and control
environmental scanning
strategic formulation
strategy implementation
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