Business Capstone
Exam Solutions
Course Introduction
Business Capstone is an integrative course designed to provide students with the opportunity to apply the knowledge and skills acquired throughout their business studies to real-world cases and problems. Working individually or in teams, students analyze complex business scenarios, develop strategic solutions, and present their recommendations to faculty and industry professionals. The course emphasizes critical thinking, ethical decision-making, and effective communication while fostering a holistic understanding of business operations across different functional areas such as marketing, finance, management, and operations. Through experiential learning and engagement with current industry challenges, students prepare for successful transition into professional business environments.
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Chapter 1: The Nature of Strategic Management
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) Military success is usually the happy result of accidental strategies, but business success is the product of continuous attention to changing conditions and insightful adaptations to those conditions.
A)True
B)False
Answer: False
Q2) All of the following are guidelines for effective strategic planning EXCEPT
A) it should be simple and nonroutine.
B) it should be a learning process for all managers and employees.
C) it should be a paper process more than a people process.
D) it should not disregard qualitative information.
E) it should not be a formal system for control.
Answer: C
Q3) All firms have a strategy, even if it is informal, unstructured, and sporadic. A)True
B)False
Answer: True
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Chapter 2: The Business Vision and Mission
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113 Verified Questions
113 Flashcards
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Sample Questions
Q1) AT&T's mission statement focuses on telephones rather than on communication.
A)True
B)False
Answer: False
Q2) According to McGinnis, a mission statement should be all of the following EXCEPT
A) it should be specific enough to control creative growth
B) it should be stated in clear terms
C) it should distinguish an organization from all others
D) it should define what an organization is
E) it should serve as a framework for evaluating both current and prospective activities
Answer: A
Q3) Mission statements cannot be stated with too high a level of specificity.
A)True
B)False
Answer: False
Q4) A mission statement is a declaration of an organization's reason for being.
A)True
B)False Answer: True
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Chapter 3: The External Assessment
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127 Verified Questions
127 Flashcards
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Sample Questions
Q1) Discuss the I/O approach in relation to competitive advantage. Answer: The I/O approach to competitive advantage advocates that external factors are more important than internal factors in a firm achieving competitive advantage. Proponents of the I/O view contend that organizational performance will be primarily determined by industry forces, rather than the firm's internal functional decisions made. Effective integration of both external and internal factors is the key to securing and keeping a competitive advantage.
Q2) Unpublished sources of external strategic information include all of the following EXCEPT
A) abstracts
B) customer surveys
C) market research
D) speeches at professional and shareholders' meetings
E) conversations with stakeholders
Answer: A
Q3) Forecasts are educated assumptions about future trends and events.
A)True
B)False
Answer: True
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Page 5
Chapter 4: The Internal Assessment
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132 Verified Questions
132 Flashcards
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Sample Questions
Q1) Motivation is one explanation why some people work hard and others do not.
A)True
B)False
Q2) The only certain thing about the future of any organization is change.
A)True
B)False
Q3) A new trend with regard to advertising products or services on the Internet is to base advertising rates solely on sales rates.
A)True
B)False
Q4) In most industries, only minor costs of producing a product or service are incurred within operations, so production/operations does not have great value as a competitive weapon in a company's overall strategy.
A)True
B)False
Q5) Most producers today sell their goods directly to consumers.
A)True
B)False
Q6) What four basic steps comprise the controlling function of management?
Page 6
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Chapter 5: Strategies in Action
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) When two organizations of about equal size unite to form one enterprise, which of these occurs?
A) Hostile takeover
B) Merger
C) Acquisition
D) LBO
E) Divestiture
Q2) For consumers who are price-sensitive, cost leadership emphasizes producing standardized products at a very low per-unit cost.
A)True
B)False
Q3) List some guidelines for when forward integration would be a particularly good strategy to pursue.
Q4) Chapter 7 bankruptcy is a liquidation procedure used only when a firm sees no hope of being able to operate successfully or to obtain necessary creditor agreement.
A)True
B)False
Q5) Name at least six reasons for performing mergers or acquisitions.
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Chapter 6: Strategy Analysis and Choice
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113 Verified Questions
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Sample Questions
Q1) Firms located in which quadrant of the Grand Strategy Matrix are in an excellent strategic position?
A) I
B) II
C) III
D) IV
E) V
Q2) What term is defined as the product of multiplying the weights by the Attractiveness Scores in each row of the QSPM?
A) Total Attractiveness Scores
B) Sum Total Scores
C) Weighted Scores
D) Total Weighted Scores
E) Factors
Q3) The purpose of matching key factors is to generate feasible alternative strategies.
A)True
B)False
Q4) Describe the tactics that have been used by politicians that can also aid strategists.
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Page 8
Chapter 7: Implementing Strategies: Management and Operations Issues
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122 Verified Questions
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Sample Questions
Q1) A concern in matching managers with strategy is that jobs have relatively ________ responsibilities, while people are ________ in their personal development.
A) static; dynamic
B) dynamic; static
C) quick; slow
D) exciting; dull
E) dull; exciting
Q2) What change strategy involves giving orders and enforcing those orders?
A) Self-interest
B) Educative
C) Force
D) Rational
E) Defusion
Q3) A divisional structure by product is most effective when
A) special emphasis needs to be placed on specific products.
B) an organization offers few products.
C) an organization's products or services differ substantially.
D) special emphasis needs to be placed on specific services.
E) all of the above
Q4) Discuss the do's and don'ts in developing organizational charts.
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Chapter 8: Implementing Strategies: Marketing,
Financeaccounting, RD, and MIS
Issues
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Sample Questions
Q1) In general, the Internet makes market segmentation easier.
A)True
B)False
Q2) Additional capital is often required for successful strategy implementation.
A)True
B)False
Q3) The only costs involved in going public are the initial costs.
A)True
B)False
Q4) The first step in performing projected financial analysis is to
A) prepare the projected balance sheet.
B) take an inventory of goods.
C) estimate increases in debt.
D) prepare the projected income statement.
E) calculate the projected net income.
Q5) Return on assets is the most widely used technique for determining whether debt, stock, or a combination of debt and stock is the best alternative for raising capital to implement strategies.
A)True
B)False
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Chapter 9: Strategy Review, Evaluation, and Control
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114 Verified Questions
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Sample Questions
Q1) Competitive advantage normally is the result of superiority in resources, skills, and A) employees.
B) position.
C) consistency.
D) feasibility.
E) governance.
Q2) The decreasing time span for which planning can be done with any degree of certainty is a reason strategy evaluation is more difficult today.
A)True
B)False
Q3) What are some of the reasons for and against the U.S. adopting international financial reporting standards (IFRS).
Q4) Timely approximate information is generally more desirable as a basis for strategy evaluation than accurate information that does not depict the present.
A)True
B)False
Q5) Discuss some contingency plans commonly established by firms.
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Chapter 10: Business Ethicssocial
Responsibilityenvironmental Sustainability
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Sample Questions
Q1) In 2011, Fortune magazine cited Kirin Holdings, Carlsberg, and Asahi Breweries as the three least admired companies from a social responsibility perspective.
A)True
B)False
Q2) Ethics training programs should contain which of the following?
A) Messages from the CEO or business owner emphasizing ethical business practices
B) The development and discussion of codes of ethics
C) Procedures for discussing unethical behavior
D) Procedures for reporting unethical behavior
E) All of the above
Q3) History has proven that the lower the trust and confidence of people in the ethics of an institution or society, the greater its economic strength.
A)True
B)False
Q4) Discuss how Japan is dealing with problems associated with an aging and shrinking workforce.
Q5) Define a code of business ethics and its role in an organization.
Q6) Describe a sustainability report.
Page 12
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Chapter 11: Globalinternational Issues
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Sample Questions
Q1) An important business activity in Japan is entertaining because it strengthens Wa.
A)True
B)False
Q2) Keeping informed about the number and the nature of competitors is easier when doing business internationally.
A)True
B)False
Q3) The strategic-management process for multinational firms is ________ for purely domestic firms, and the process is ________ for international firms.
A) conceptually the same as; more simple
B) conceptually the same as; more complex
C) conceptually different than; more simple
D) conceptually different than; more complex
E) conceptually the same; simplistic
Q4) Language, culture, and value systems differ among countries, which can create barriers to communication and problems managing people.
A)True
B)False
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