Business Consulting
Question Bank
Course Introduction
Business Consulting is a course designed to equip students with the knowledge and skills necessary to analyze, diagnose, and solve complex business problems for organizations across various industries. Through a combination of case studies, real-world consulting projects, and interactive sessions, students learn key consulting methodologies, effective communication strategies, and project management techniques. The course emphasizes critical thinking, client interaction, and ethical considerations in consulting, preparing students to deliver actionable recommendations and drive lasting organizational change.
Recommended Textbook
Strategic Management Theory and Cases An Integrated Approach 12th Edition by Charles W. L.
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12 Chapters
895 Verified Questions
895 Flashcards
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Page 2
Chapter 1: Strategic Leadership: Managing the
Strategy-Making Process for Competitive Advantage
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81 Verified Questions
81 Flashcards
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Sample Questions
Q1) Mintzberg maintains that emergent strategies are often successful and may be more appropriate than intended strategies.
A)True
B)False
Answer: True
Q2) If a company focuses on its customers and creates incentives for employee productivity, the company will likely be successful in delivering shareholder value.
A)True
B)False Answer: True
Q3) A SWOT analysis is implemented to fine-tune strategies.
A)True
B)False Answer: True
Q4) Emergent strategies arise from within the company as a result of prior planning.
A)True
B)False
Answer: False
Page 3
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Chapter 2: External Analysis: The Identification of Opportunities and Threats
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81 Verified Questions
81 Flashcards
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Sample Questions
Q1) Porter's Five Forces model did not recognize one force, which is:
A) the power of complement providers.
B) the risk of entry by potential competitors.
C) the intensity of rivalry among established companies within an industry.
D) the bargaining power of suppliers.
E) the threat of substitutes.
Answer: A
Q2) Define and then relate the concepts of sectors, industries, and market segments. Answer: All of these concepts are useful in terms of understanding the nature of competition and the forces in the industry environment that affect performance. A skilled strategic manager must take all of these into account when developing strategies. A sector refers to a group of closely related industries. In terms of scope, sectors encompass the broadest set of firms. A sector is typically composed of several interrelated industries. An industry refers to a group of companies offering products and services that are close substitutes for each other. Market segments refer to a distinct group of customers within an industry market that can be differentiated from each other on the basis of their distinct attributes and specific demands.
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Page 4
Chapter 3: Internal Analysis: Resources and Competitive Advantage
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79 Verified Questions
79 Flashcards
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Sample Questions
Q1) Industry dynamism refers to:
A) the gradual erosion of a company's customer base over time.
B) shifts in product profitability.
C) a rapidly changing industry environment.
D) increasing per-unit costs.
E) a company's difficulty in changing its strategies and structure.
Answer: C
Q2) IBM's investment in mainframe computers, that proved disadvantageous when the market shifted to smaller personal computers, is an example of a prior strategic commitment.
A)True
B)False
Answer: True
Q3) The more utility a company creates for its customers, the more flexibility it has in determining prices.
A)True
B)False
Answer: True
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Chapter 4: Building Competitive Advantage Through Functional-Level Strategies
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75 Verified Questions
75 Flashcards
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Sample Questions
Q1) Learning effects are a result of:
A) automation.
B) knowledge acquired by doing.
C) sound product planning tactics.
D) diseconomies of scale.
E) outsourcing.
Q2) The Mountain Ski Lodge spent $100,000 marketing and advertising its new ski trails and on-site spa. The money used for marketing and advertising can be referred to as:
A) variable costs.
B) fixed costs.
C) ratio costs.
D) diseconomies of scale.
E) economies of scale.
Q3) You are a consultant offering advice to a large manufacturing firm about ways to increase its distinctive competency in customer responsiveness. What suggestions would you offer? Be specific and detailed in your answer.
Q4) Identify the two dimensions of quality and describe how companies can achieve them.
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Chapter 5: Business-Level Strategy
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74 Flashcards
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Sample Questions
Q1) Delta Airlines used to advertise its high-quality air travel service by saying it flew "anywhere, anytime." What generic strategy is represented by this advertisement?
A) Broad low-cost
B) Broad differentiation
C) Vertical integration
D) Right-time marketing
E) Rapid growth
Q2) When a company offers a wide variety of products at lower prices than its rivals, it is most likely:
A) pursuing a low-cost strategy.
B) pursuing a differentiation strategy.
C) pursuing a focus strategy.
D) pursuing an exit strategy.
E) pursuing a divestment strategy.
Q3) The efficiency frontier is not static; it is continually being pushed outwards by the efforts of managers to improve their firm's performance through innovation.
A)True
B)False
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Chapter 6: Business-Level Strategy and the Industry Environment
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82 Verified Questions
82 Flashcards
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Sample Questions
Q1) Mature industries are generally characterized by:
A) low entry barriers.
B) diseconomies of scale.
C) absence of large-scale production.
D) a small number of large firms.
E) very low customer demand.
Q2) A divestment strategy's success is often dependent upon good timing.
A)True
B)False
Q3) Development of a mass market is the stimulus for an industry to change from growth to embryonic.
A)True
B)False
Q4) Horizontal mergers often lead to industry fragmentation.
A)True
B)False
Q5) The franchisor typically owns and funds each of its franchisees.
A)True
B)False
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Chapter 7: Strategy and Technology
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73 Flashcards
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Sample Questions
Q1) Mathematica 1.0 was one of the most distinctive applications for the short-lived NeXT Computer. It still sets the standard for symbolic math and visualization on Windows, Mac, Linux, and Unix. Mathematica 1.0 can be described as a(n) _____ application.
A) dominant
B) analogous
C) hardware
D) strategic
E) killer
Q2) Microsoft's near monopoly substantially reduces the risks facing the makers of complementary products and the costs of those products.
A)True
B)False
Q3) Aggressive marketing is a key factor in jump-starting demand to get potential early adopters to bear the switching costs associated with adopting a new innovation.
A)True
B)False
Q4) What are technical standards, why are they important, and how are they established?
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Chapter 8: Strategy in the Global Environment
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67 Verified Questions
67 Flashcards
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Sample Questions
Q1) A transnational strategy makes the most sense when demand for local responsiveness is minimal.
A)True
B)False
Q2) Whirlpool, a leading U.S. maker of household appliances, has a wholly owned subsidiary that is responsible for research and development (R&D), manufacturing, and sales in over two dozen European countries, from Norway to Greece. What are some of the potential advantages that Whirlpool may gain from its use of a wholly owned subsidiary for global expansion? What are some of the potential disadvantages?
Q3) WKL Entertainment Inc. is a service-based firm with very few competitors. The company is looking to sell its services in different nations with substantial differences in consumer preferences and where cost pressures are not too intense. Which of the following strategies should WKL Entertainment Inc. managers pursue?
A) Global standardization
B) Transnational
C) Localization
D) International
E) Multinational
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Chapter 9: Corporate-Level Strategy: Horizontal Integration,
Vertical Integration, and Strategic Outsourcing
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71 Verified Questions
71 Flashcards
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Sample Questions
Q1) Vertical integration is based on a company entering only those industries that:
A) are involved in the distribution of products.
B) are considered as potential competitors.
C) are involved in sourcing raw materials.
D) are not in any way related to the company's current business operation.
E) add value to its core products.
Q2) All of the following are benefits of horizontal integration except:
A) Reduced risk of coming into conflict with the FTC
B) Increased product differentiation
C) Reduced industry rivalry
D) Increased bargaining power over suppliers
E) Reduced cost structure
Q3) Even though companies may invest in specialized assets to build competitive advantage, it is seldom necessary that suppliers do so.
A)True
B)False
Q4) Product bundling occurs when a firm offers a range of products that are sold together at a single price.
A)True
B)False
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Chapter 10: Corporate-Level Strategy: Related and Unrelated
Diversification
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73 Verified Questions
73 Flashcards
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Sample Questions
Q1) Diversification may dissipate value if it is wrongly based on:
A) realizing economies of scope.
B) rescuing core business.
C) transferring competencies.
D) acquisitions and restructuring.
E) leveraging existing competencies.
Q2) At its simplest level, a joint venture may be thought of as:
A) a merger of two companies.
B) an acquisition of a smaller company by a larger company.
C) a form of strategic outsourcing.
D) a sign of weakness on the part of one of the companies.
E) pooling of resources by two or more firms to create new business.
Q3) Identify and discuss the profitability justifications for pursuing a multibusiness model based on diversification.
Q4) The coordination required to realize value from a diversification strategy based on transferring, sharing, or leveraging competencies is a major source of bureaucratic costs.
A)True
B)False
Page 12
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Chapter 11: Corporate Performance, Governance, and Business Ethics
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Sample Questions
Q1) While many agency relationships work well, problems arise when agents and principals have different goals.
A)True
B)False
Q2) When managers of a firm seek to unilaterally rewrite the terms of contracts with suppliers, buyers, or complement providers in a way that is more favorable to their firm, they are engaging in:
A) opportunistic exploitation.
B) information manipulation.
C) downsizing.
D) greenmail.
E) self-dealing.
Q3) An agency relationship continues throughout the hierarchy within a company.
A)True
B)False
Q4) All stakeholders have an exchange relationship with the company.
A)True
B)False
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Chapter 12: Implementing Strategy Through Organization
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Sample Questions
Q1) Organizational structure can be defined as:
A) the combination of the location of decision-making responsibilities, the formal division of the organization into subunits, and the establishment of integrating mechanisms to coordinate the activities of the subunits.
B) the blueprint that states how managers intend to use organizational resources to most efficiently achieve organizational goals.
C) the specific collection of values, norms, beliefs, and attitudes that are shared by people and groups in an organization and that control the way they interact with each other and with stakeholders outside the organization.
D) the degree to which a company specifies how decisions are to be made so that employees' behavior becomes predictable.
E) the process of redesigning business processes to achieve dramatic improvements in performance, such as cost, quality, service, and speed.
Q2) Identify and discuss the three building blocks of organizational structure.
Q3) Organizational structure is at the core of an organizations architecture.
A)True
B)False
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