Advanced Strategic Management Test Bank
Course Introduction
Advanced Strategic Management explores the theories, frameworks, and tools used by executives to formulate, implement, and evaluate strategies that sustain long-term organizational success in complex and dynamic environments. The course delves into advanced topics such as competitive advantage, corporate diversification, strategic alliances, innovation management, and global strategy. Through case studies, simulations, and applied projects, students develop critical thinking and decision-making skills, analyze real-world business challenges, and learn to anticipate strategic risks and opportunities. Emphasis is placed on ethical considerations, leadership, and the ability to adapt strategies in response to shifting market forces and technological changes.
Recommended Textbook
Strategic Management Text and Cases 8th Edition by Gregory Dess
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12 Chapters
1724 Verified Questions
1724 Flashcards
Source URL: https://quizplus.com/study-set/3051
Page 2
Chapter 1: Strategic Management: Creating Competitive Advantages
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174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/60609
Sample Questions
Q1) An idealistic vision can arouse employee enthusiasm and therefore is a good vision. A)True
B)False Answer: False
Q2) Which of the following is not an example of a financial strategic objective?
A) Increase sales growth 6 percent to 8 percent and accelerate core net earnings growth from 13 percent to15 percent per share in each of the next 5 years. (Procter & Gamble)
B) Reduce volatile air emissions 15 percent by 2015 from 2010 base year, indexed to net sales. (3M)
C) Generate Internet-related revenue of $1.5 billion. (AutoNation) D) Cut corporate overhead costs by $30 million per year. (Fortune Brands)
Answer: B
Q3) When formulating strategic objectives,managers need to remember that too many objectives can result in a lack of focus and diminished results. A)True
B)False
Answer: True
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Chapter 2: Analyzing the External Environment of the Firm: Creating Competitive Advantages
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173 Verified Questions
173 Flashcards
Source URL: https://quizplus.com/quiz/60608
Sample Questions
Q1) Competition tends to be more intense among firms within a strategic group than between strategic groups.
A)True
B)False
Answer: True
Q2) The five-forces model helps to determine both the nature of competition in an industry and the profit potential for the industry.
E. Porter describes the competitive environment in terms of five basic competitive forces that affect the ability of a firm to compete in a given market. Together, they determine the profit potential for a particular industry.
A)True
B)False
Answer: True
Q3) Switching costs for an end user are likely to be much higher because of the Internet.
A)True
B)False
Answer: False
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Page 4
Chapter 3: Assessing the Internal Environment of the Firm
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174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/60607
Sample Questions
Q1) Which of the following is not a tangible resource?
A) technical and scientific skills
B) trade secrets, patents, copyrights
C) state-of-the art machinery
D) company borrowing capacity
Answer: A
Q2) In a retail service industry,which of the following is not a primary value-chain activity?
A) purchasing goods
B) human resource management
C) partnering with vendors
D) operating stores
Answer: B
Q3) Primary activities contribute to the physical creation of a product or service,its sale and transfer to the buyer,and its service after the sale.
A)True
B)False
Answer: True
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Chapter 4: Recognizing a Firms Intellectual Assets: Moving
Beyond a Firms Tangible Resources
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174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/60606
Sample Questions
Q1) The best protection for intellectual property in the long run is likely to be the development of
A) new products.
B) stronger patents.
C) dynamic capabilities.
D) international patents.
Q2) Social capital has many potential benefits; however,according to the text,social capital
A) is always beneficial to a firm.
B) may or may not be beneficial to a firm.
C) usually restricts the productivity of employees.
D) always hurts firm performance.
Q3) Dynamic capabilities include ______ development,alliances,and acquisitions.
A) after-market
B) product
C) idea
D) company
Q4) Millennials value hard work and will rarely use vacation time.
A)True
B)False
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Chapter 5: Business-Level Strategy: Creating and Sustaining Competitive Advantages
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163 Verified Questions
163 Flashcards
Source URL: https://quizplus.com/quiz/60605
Sample Questions
Q1) Firms that compete on overall cost leadership are vulnerable if there is an increase in the cost of the inputs on which the advantage is based.
A)True
B)False
Q2) A successful differentiation strategy increases rivalry since buyers become more price-sensitive.
A)True
B)False
Q3) With reverse positioning,a strategy to be used during the mature stage of the industry life cycle,a product escapes its category by deliberately associating with a different one.
A)True
B)False
Q4) Which of the following is a risk (or potential pitfall)of cost leadership?
A) Cost cutting may lead to the loss of desirable features.
B) Attempts to stay ahead of the competition may lead to gold plating.
C) Cost differences increase as the market matures.
D) Producers are more able to withstand increases in supplier costs.
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Chapter 6: Corporate-Level Strategy: Creating Value Through Diversification
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114 Verified Questions
114 Flashcards
Source URL: https://quizplus.com/quiz/60604
Sample Questions
Q1) Creating value within business units can happen when a firm tries to find and acquire either poorly performing firms with unrealized potential or firms in industries on the threshold of significant,positive change.This action is known as
A) restructuring.
B) leveraging core competencies.
C) parenting.
D) sharing activities.
Q2) Novartis,formerly Ciba-Geigy,uses portfolio management to improve many key activities,including resource allocation and reward and evaluation systems.This is an example of using
A) related diversification to achieve value by leveraging pooled negotiating power to attain economies of scope.
B) related diversification to acquire market power by leveraging pooled negotiating power.
C) unrelated diversification to acquire financial synergies through portfolio management.
D) related diversification to acquire parenting, restructuring, and financial synergies through corporate restructuring and parenting.
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Chapter 7: International Strategy: Creating Value in Global Markets
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140 Verified Questions
140 Flashcards
Source URL: https://quizplus.com/quiz/60603
Sample Questions
Q1) Which one of the following is one of the Theodore Levitt assumptions supporting a pure global strategy?
A) Consumers are willing to pay more for specific product features.
B) Customer needs and interests are becoming more dissimilar.
C) MNCs can successfully compete globally by aggressively pricing products at the sacrifice of product features.
D) If the world markets are treated as heterogeneous, substantial economies of scale are easily achieved.
Q2) Shared Arabic language and the Muslim religion is one reason that explains regionalism tendencies in
A) South America.
B) the Maghreb.
C) European Union.
D) North America.
Q3) Shared Spanish colonialism is one reason that explains regionalism tendencies in A) Asia.
B) South America.
C) the United States.
D) Africa.
Page 9
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Chapter 8: Entrepreneurial Strategy and Competitive Dynamics
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115 Verified Questions
115 Flashcards
Source URL: https://quizplus.com/quiz/60602
Sample Questions
Q1) Colgate-Palmolive,Unilever,Proctor and Gamble,and Henkel cooperated legally when they agreed to prearranged prices at which they would sell to retailers.
A)True
B)False
Q2) New entry into markets,whether by start-ups or by incumbent firms,rarely threatens existing competitors.
A)True
B)False
Q3) Market commonality is the extent to which rivals draw from the same types of resources.
A)True
B)False
Q4) Entrepreneurial new entry is often perceived as a competitive threat because most market needs are being met,either directly or indirectly,by an existing firm.
A)True
B)False
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Page 10
Chapter 9: Strategic Control and Corporate Governance
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116 Verified Questions
116 Flashcards
Source URL: https://quizplus.com/quiz/60601
Sample Questions
Q1) Rule-based controls are appropriate in organizations,where most of the employees are unskilled.
A)True
B)False
Q2) Double-loop learning in the contemporary approach to strategic control means that the organizational assumptions,premises,goals and strategies are occasionally monitored,tested,and reviewed.
A)True
B)False
Q3) Rules and regulations,rather than culture or rewards,would be used for strategic control at which type of company?
A) software developer
B) stock brokerage firm
C) manufacturer of mass produced products
D) high tech research facility
Q4) Principal-principal (PP)conflicts frequently result in expropriation,which is defined as activities to enrich minority shareholders to assure their support.
A)True
B)False
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Chapter 10: Creating Effective Organizational Designs
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121 Verified Questions
121 Flashcards
Source URL: https://quizplus.com/quiz/60600
Sample Questions
Q1) Functional structures are usually found in organizations where there
A) is high volume production.
B) are unrelated product lines or service offerings.
C) is very little vertical integration.
D) there exists a strong need to decentralize decision making.
Q2) A worldwide product division structure is used when global strategies require that each division be responsible for overall efficiency and performance.
A)True
B)False
Q3) According to the text,boundaryless organizational structures are most effective when they replace rather than complement traditional organizational structures.
A)True
B)False
Q4) Different types of boundaries place limits on organizations in order to foster high degrees of interaction with inside influences and varying levels of permeability.
A)True
B)False
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12
Chapter 11: Strategic Leadership: Creating a Learning
Organization and an Ethical Organization
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139 Verified Questions
139 Flashcards
Source URL: https://quizplus.com/quiz/60599
Sample Questions
Q1) Empowering individuals by soliciting their input helps an organization to enjoy better employee
A) retention.
B) performance.
C) morale.
D) communication.
Q2) Functional benchmarking
A) is not very useful for organizations with a divisional organizational structure.
B) endeavors to determine best practices regardless of industry.
C) restricts the search for best practices to competitors.
D) is useful when researching industry-specific standards.
Q3) Designing the organization is the leadership activity that involves building structures,teams,systems,and processes that facilitate the implementation of leader vision.
A)True
B)False
Q4) Referent power refers to manager identification with his or her employees.
A)True
B)False
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Chapter 12: Managing Innovation and Fostering Corporate
Entrepreneurship
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121 Verified Questions
121 Flashcards
Source URL: https://quizplus.com/quiz/60598
Sample Questions
Q1) Stock options offer the prospect of high gains with relatively small up-front investments that represent limited losses.
A)True
B)False
Q2) New venture groups are formed within corporations by individuals or a division and usually have the same mandate as a typical research and development department.
A)True
B)False
Q3) One of the following is not a question that should be answered when evaluating the performance of corporate venturing efforts.Which is it?
A) Is the venture attracting external venture funding?
B) Is the venture considered to be a market success?
C) Does the venture add to the worth of the firm internally?
D) Does the value proposition offered by the venture insulate it from competitive attack?
Q4) The term strategic envelope refers to the scope of innovation efforts of a firm.
A)True
B)False
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