Advanced Management Exam Preparation Guide
Course Introduction
Advanced Management provides an in-depth exploration of the theories, strategies, and practices that define effective leadership in complex organizational environments. The course emphasizes critical thinking and decision-making, focusing on topics such as organizational behavior, strategic planning, change management, innovation, and performance measurement. Through case studies, simulations, and collaborative projects, students develop the advanced skills necessary to address contemporary managerial challenges, foster high-performing teams, and drive sustained organizational success in a dynamic global marketplace.
Recommended Textbook
Strategic Management 6th Edition by Graham Hubbard
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14 Chapters
557 Verified Questions
557 Flashcards
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Chapter 1: What Is Strategy
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40 Verified Questions
40 Flashcards
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Sample Questions
Q1) Performance of an organisation is based solely on financial performance.
A)True
B)False
Answer: False
Q2) Countries with small populations and small economies have many factors in common.Which of the following is one of these factors?
A)Small,compact cars
B)Small government policy role
C)Small schools
D)Small local markets
Answer: D
Q3) One view to explain why strategy might be different in countries with smaller economies is that separate sets of values and rules for different countries or geographic regions are simply due to each being at a different stage of transition to Western capitalism.
A)True
B)False
Answer: True
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Chapter 2: Analysing Business Strategy: Creating Value
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41 Verified Questions
41 Flashcards
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Sample Questions
Q1) The behavioural theory approach of the firm:
A)allows for the existence of a variety of stakeholders
B)controls the power of strategic stakeholders
C)simplifies the process of monitoring strategy
D)explains why key stakeholders' differing expectations are always in agreement
Answer: A
Q2) One of the challenges that the emergent strategy approach identifies for planned strategy is:
A)where possible,involve key stakeholders and managers in setting the strategy
B)convince the board of directors and the organisation that the emergent strategy is good
C)be flexible when unplanned but valuable opportunities emerge that are inconsistent with the planned direction
D)allow for expected problems that will undoubtedly emerge as the organisation tries to implement its plan
Answer: A
Q3) Competitive advantage is not just making a profit.
A)True
B)False
Answer: True
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Chapter 3: Analysing the External Environment
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43 Verified Questions
43 Flashcards
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Sample Questions
Q1) In the 'maturity' stage of the industry life cycle,the issue is:
A)how to manage industry position
B)how to manage markets and assets
C)how to grow
D)how to avoid decline
Answer: B
Q2) Porter claims that ___ contribute(s)to intensity of industry rivalry:
A)barriers to exit
B)switching costs
C)absolute cost advantage
D)differentiation of outputs
Answer: A
Q3) To gain an understanding of how each market works within an industry we ask:
A)What is the size of key market segments?
B)What is the factor-controller's decision process?
C)How homogenous is the market?
D)What is the proximity level of the market?
Answer: A
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5
Chapter 4: Analysing the External Environment
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41 Verified Questions
41 Flashcards
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Sample Questions
Q1) Equivalent terms used by others and in practice for the word "capabilities" do not include the current terminology of:
A)Valuables
B)Competences
C)Skills
D)Resources
Q2) One of the limitations of functional analysis is that it follows conventional thinking and is likely to uncover only strategic capabilities.
A)True
B)False
Q3) Knowledge management,learning and the ability to innovate are the three key areas of achieving dynamic capabilities.
A)True
B)False
Q4) Why is it so difficult to identify strategic capabilities within organisations? What should be used for this search?
Q5) Describe the links between resources,capabilities and strategic capabilities.
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Chapter 5: Measuring Strategic Organisation Performance
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37 Verified Questions
37 Flashcards
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Sample Questions
Q1) What conditions limit performance comparisons with the world's best practice? Explain.
Q2) Since intangibles such as customer satisfaction cannot be measured,they are not important in assessing performance.
A)True
B)False
Q3) The balanced scorecard approach rejects the importance of the shareholder value approach.
A)True
B)False
Q4) The set of four 'perspectives' of the 'balanced scorecard' is:
A) political,environmental,social,technological
B) supplier,customer,internal business,innovation and learning
C) financial,customer,internal business,innovation and learning
D)financial,operational,logistical,research and development
Q5) A friend of yours is considering the development of KPIs for his company.He asks you,'How many KPIs should there be at the business unit/functional unit/individual levels?' What would you tell him?
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Chapter 6: GAP Analysis and Business-Level Strategic Options
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41 Verified Questions
41 Flashcards
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Sample Questions
Q1) The risks of a low-cost strategy do NOT include:
A)too narrow a focus on profit margins
B)too narrow a focus on cost control
C)cost leadership is not sustained
D)focus strategy is able to offer even lower costs
Q2) Firms with well-defined business models allow them to make strategic choices concerning different parts of their operations that will support and reinforce each otherthus leading to competitive advantages.
A)True
B)False
Q3) Who are the key stakeholders of not-for-profit (NFP)organisations?
A)The community
B)The government
C)The citizens
D)The issue is not clear
Q4) An important aspect of assessing the performance of the business strategy is to formally identify the expectations from the shareholders.
A)True
B)False
8
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Chapter 7: Strategic Decision-Making
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38 Verified Questions
38 Flashcards
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Sample Questions
Q1) All of the conceptual approaches to decision-making see decision-making as a process rather than a single judgment at some point in time.
A)True
B)False
Q2) In relation to problems of interpretation:
A)to make sense of ambiguous events,interpretation can provide certainty of knowledge
B)rational decision-making assumes subjective interpretation
C)individuals are accurate and truthful in their interpretations of past events
D)individuals are biased in their interpretations of past events
Q3) Valid approaches to understanding how decisions are made in the context of organisational conflict between decision makers include:
A)decision-making as a power struggle
B)decision-making as a result of coalition formation
C)both of the above
D)none of the above
Q4) Rational decisions are conscious,explicit,and deliberate.
A)True
B)False
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9
Chapter 8: Dynamic Competitive Strategy
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39 Flashcards
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Sample Questions
Q1) According to Nalebuff and Brandenburg,cooperation ______________ value,while competition ______________ value.
A)creates,divides.
B) replaces,multiplies.
C) maximises,minimises.
D)subtracts,adds.
Q2) Tactics are best designed to have their own effect rather than affecting the perceptions.
A)True
B)False
Q3) Which of the following industries would you consider is experiencing a declining stage of industry evolution?
A)Food manufacturing
B)Fixed line telecommunications
C)Internet search
D)Nanotechnology
Q4) Explain the competitive options of small organisations to meet the challenges of 'deep pocket competitors'.
Q5) Consider the relevance of game theory in understanding business strategy.
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Chapter 9: Corporatemulti-Business Strategy
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40 Flashcards
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Sample Questions
Q1) Briefly discuss the four types of unrelated diversification that may create value.
Q2) What type of evidence indicates a capability-based strategy for success in diversification and which researchers have been key investigators in this area?
Q3) The GE business strength-industry attractiveness nine-cell matrix is a technique for classifying businesses into a three horizons portfolio of strategy of corporations.
A)True
B)False
Q4) The five types of unrelated diversification that may create value are:
A)stakeholder value,family conglomerates,synergistic,escape,capacity-based
B)triple bottom line,family feud,opportunistic,escape,capability-based
C)shareholder value,family conglomerates,opportunistic,escape,capability-based
D)shareholder value,family confederations,synergistic,evasion,capacity-based
Q5) According to Miller:
A)more related corporations perform better
B)more diversified corporations perform better
C)moderately related corporations perform better
D)more related corporations perform poorly
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Chapter 10: Acquisitions and Alliances
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41 Flashcards
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Sample Questions
Q1) Consider the distinct steps of the acquisition process and explain if all steps are equally important.
Q2) Success of merger and acquisition is determined by the quality of strategic analysis,search and valuation.
A)True
B)False
Q3) In many industries,the winners will be the companies that:
A)avoid joint ventures because they are difficult to manage
B)only form partnership with companies which know how to manage joint ventures successfully
C)outsource the management of joint venture
D)most quickly learn to manage joint venture effectively
Q4) Joint venture is NOT used to achieve which of the following purposes:
A)strengthening the firm's existing business
B)taking the firm's existing products into new markets
C)obtaining new products that can be sold in the firm's existing markets
D)controlling the business of the partners
Q5) It is essential to acquire 50.1% of the shares to acquire another organisation. A)True B)False
Page 12
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Chapter 11: International Strategy
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35 Verified Questions
35 Flashcards
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Sample
Questions
Q1) The outward-looking perspective of internalisation includes all of the following except:
A)exporting
B)managing as the wholly owned subsidiary of a foreign firm
C)establishing joint ventures outside the home country with foreign companies
D)acting as licensor to a foreign company
Q2) In segmenting markets in countries abroad,all of the following fundamental questions must be addressed except:
A)Is there a market segment in the potential export market that will value the product characteristics of the exporter's product?
B)Does the segment have various customers groups?
C)Is this market segment large enough to justify the costs of exporting?
D)Is this segment adequately served by existing domestic producers or other exporters?
Q3) The reasons for a firm becoming international in scope do NOT include:
A)a desire for continued growth
B)domestic market saturation
C)the potential to exploit a new technological advantage
D)being international is the most effective strategy for growth
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Chapter 12: Capabilities, Systems and Structure
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Sample Questions
Q1) The relationships between behaviour,motivation and reward systems can be summarised as:
A)motivation influences reward systems,reward systems influence behaviour
B)behaviour influences motivation,motivation influences reward systems
C)reward systems influence motivation,motivation influences behaviour
D)none of the above
Q2) In developing the design of an organisation's structure,what are the issues that the organisation should consider?
Q3) The issues to be considered in developing the design of the organisational structure do NOT include:
A)What the primary value-creating activities in the organisation are?
B)To what extent jobs should be standardised so that activities and skills can be specialised?
C)How activities and jobs should be coordinated?
D)How jobs should be grouped?
Q4) Information systems determine what the organisation is told about what is happening.
A)True
B)False
Q5) Is outsourcing an ethical practice? Discuss.
Page 14
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Chapter 13: Leadership, People and Culture
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43 Flashcards
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Sample Questions
Q1) People selection on the basis of values fit with organisational culture is not a reliable predictor of job performance.
A)True
B)False
Q2) Hubbard,Rice and Galvin suggest that the common requirements of leadership are:
A)articulate the vision and culture,passion and commitment,actions are important,be in touch,develop rewards
B)tell stories,make important decisions,touch people,impose penalties,hide emotions
C)commitment to a cause,self-importance,be a soft touch,develop stories,settle scores
D)power and authority,symbolic actions,common touch,penalise failure,reward stories
Q3) Sustainability is not an element of implementation,but a criterion for:
A)decision-making about board choices
B)decision-making about implementation choices
C)decision-making about leadership choices
D)decision-making about strategy choices
Q4) Assess how 'top management teams' can function effectively.
Q5) 'Leaders are born,not made.' Discuss the validity of this statement.
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Page 15
Chapter 14: Change Management
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39 Verified Questions
39 Flashcards
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Sample Questions
Q1) ___ and ___ organisations are best placed to be able to cope with the changes required.
A)Decentralised,resourceful
B)Creative,centralised
C)Resilient,adaptable
D)Small,diversified
Q2) Provide four reasons for resistance to change.Describe how you would address one of them.
Q3) The punctuated equilibrium change model disproves that change comes to industries in waves.
A)True
B)False
Q4) Organisations do not need to be resilient in order to be able to cope with the increasing amount of turbulence they encounter on a day-to-day basis.
A)True
B)False
Q5) What are the four reasons why organisations are not adaptable,as established by Hamel and Valikangas? Give an example of each in your answer.
Q6) Explain the cognitive perspective of change.
Page 16
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