Business Planning Exam Preparation Guide
Course Introduction
Business Planning is a comprehensive course that equips students with the essential tools and frameworks needed to develop effective business strategies and detailed business plans. Through practical exercises and real-world case studies, students learn to conduct market analysis, assess financial feasibility, identify operational requirements, and articulate value propositions. The course emphasizes the importance of goal setting, risk assessment, and competitive analysis, guiding students through each stage of creating a robust business plan suitable for both startups and established firms seeking growth or innovation. By the end of the course, students will be prepared to present well-structured, data-driven business plans to stakeholders, investors, and business partners.
Recommended Textbook
Strategic Management and Business Policy 13th Edition by Thomas L. Wheelen
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12 Chapters
1260 Verified Questions
1260 Flashcards
Source URL: https://quizplus.com/study-set/1452
Page 2
Chapter 1: Basic Concepts in Strategic Management
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109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/28808
Sample Questions
Q1) Strategic planning within a small organization
A)may be informal and irregular.
B)must be elaborate to allow for future growth.
C)should always be formalized and explicitly stated.
D)should be done by the president only.
E)is unnecessary and a waste of time.
Answer: A
Q2) According to Henry Mintzberg, the three most typical approaches to strategic decision-making are
A)entrepreneurial, adaptive, and planning.
B)entrepreneurial, logical incrementalism, and planning.
C)logical incrementalism, strategic planning, and systematic scanning.
D)environmental scanning, formulation, and implementation.
E)directive, rare, and consequential.
Answer: A
Q3) Logical incrementalism is a useful decision-making mode when the environment is rapidly changing and when it is important to build consensus.
A)True
B)False
Answer: True
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Chapter 2: Corporate Governance
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97 Verified Questions
97 Flashcards
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Sample Questions
Q1) One study conducted by Korn/Ferry International of directors of large U.S.corporations found that more than ________ of directors indicated that their CEOs were not utilizing them to their full potential in the strategy setting process.
A)20%
B)30%
C)60%
D)70%
E)90%
Answer: B
Q2) The relationship among the board of directors, top management, and shareholders is referred to as
A)corporate synergy.
B)corporate management.
C)corporate governance.
D)corporate strategy.
E)corporate responsibility.
Answer: C
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Chapter 3: Ethics and Social Responsibility in Strategic Management
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97 Verified Questions
97 Flashcards
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Sample Questions
Q1) According to Kohlberg, the second level of moral development, characterized by considerations of society's laws and norms, is called
A)principled.
B)conventional.
C)essential.
D)preconventional.
E)fundamental.
Answer: B
Q2) Kohlberg's preconventional level is characterized by a person's adherence to an internal moral code.
A)True
B)False
Answer: False
Q3) As opposed to rule-based countries, relationship-based countries tend to
A)be more transparent and have a higher degree of corruption.
B)be more transparent and have a lower degree of corruption.
C)be less transparent and have a lower degree of corruption.
D)be less transparent and have a higher degree of corruption.
E)have the same transparency and same degree of corruption.
Answer: D
Page 5
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Chapter 4: Environmental Scanning and Industry Analysis
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116 Verified Questions
116 Flashcards
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Sample Questions
Q1) Trend extrapolation is
A)the process of converting intuition and hunches into reality.
B)the extension of present trends into the future.
C)the process of asking some authorities in the area to make an "informed guess" about the future.
D)given a large amount of historical data on certain interrelated factors, one attempts to conceptualize alternative futures.
E)detecting faulty underlying assumptions before forecasting errors can occur.
Q2) Which of the following is NOT a major force in the societal environment?
A)political-legal forces
B)labor forces
C)economic forces
D)technological forces
E)sociocultural forces
Q3) NutraSweet can serve as a product substitute for sugar satisfying the same need.
A)True
B)False
Q4) A buyer may be powerful when changing suppliers' costs a great deal.
A)True
B)False
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Chapter 5: Internal Scanning and Organizational Analysis
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) A linked set of value-creating activities beginning with basic materials provided by suppliers and ending with distributors getting the final product into the hands of the ultimate consumer is called a(n)
A)value chain.
B)continuum of sustainability.
C)strategic capability.
D)fully integrated activity set.
E)a strategic group.
Q2) What are the two distinct attributes of culture?
Q3) Transferability is the ability of competitors to use duplicated resources and capabilities to imitate the other firm's success.
A)True
B)False
Q4) What are the two distinct attributes of corporate culture?
A)differentiation and integration
B)durability and imitability
C)concern for people and concern for task
D)intensity and integration
E)amount of complexity and tolerance of change
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Chapter 6: Strategy Formulation: Situation Analysis and Business Strategy
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) Explain the four combination strategies that may be generated from the TOWS Matrix.
Q2) A tactic is defined by the text as
A)a specific operating plan specifying how a strategy is to be implemented in terms of when and where it is to be put into action.
B)the first company to manufacture and sell a new product or service.
C)any action by a company or business unit that provides a direct or indirect indication of its intentions, motives, goals, or internal situation.
D)policies which link formulation and implementation of the strategy.
E)the ability to adapt a product or delivery system more closely to buyers' needs.
Q3) What are timing tactics?
Q4) The first company to manufacture and sell a new product or service is called the ground breaker.
A)True
B)False
Q5) Discuss the difference between a fragmented and a consolidated industry.
Q6) What are the types of alliances that business can engage in?
Q7) Discuss offensive tactics and defensive tactics.
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Chapter 7: Strategy Formulation: Corporate Strategy
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) When P & G, Kimberly-Clark, and Scott Paper compete with each other in varying combinations of consumer paper products, they are said to be engaging in
A)oligopolistic competition.
B)strategic competition.
C)multipoint competition.
D)laissez-faire competition.
E)horizontal competition.
Q2) When Bristol-Myers Squibb purchased 17% of ImClone's common stock to gain access to a new drug, it was using which type of integration?
A)full integration
B)long-term contracts
C)backwards integration
D)taper integration
E)quasi integration
Q3) The stability strategies are really a lack of any strategy.
A)True
B)False
Q4) Define a retrenchment strategy.Discuss the more popular options.
Q5) What is portfolio analysis?
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Chapter 8: Strategy Formulation: Functional Strategy and Strategic Choice
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) The importance of sole sourcing was supported by Michael Porter to obtain high supplier quality.
A)True
B)False
Q2) According to the text, unanimous agreement is not the best way to determine the merits of a proposed alternative strategy.To avoid this consensus trap, which technique assigns a group or individual to identify potential pitfalls and problems with a proposed alternative strategy in a formal presentation?
A)devil's advocate
B)Sloan's judgment
C)sales presentation
D)dialectical inquiry
E)scenario construction
Q3) Risk is composed not only of the probability that the strategy will be effective, but also of the amount of assets the corporation must allocate to that strategy and the length of time the assets will be unavailable for other uses.
A)True
B)False
Q4) What does a financial strategy examine?
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Chapter 9: Strategy Implementation: Organizing for Action
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) According to Goold and Campbell, when companies coordinate the flow of products or services of one unit with that of another unit which can reduce inventory, the synergistic effect is known as
A)pooled negotiating power.
B)shared know-how.
C)coordinated strategies.
D)economies of scale or scope.
E)new business creation.
Q2) According to the job characteristics model, how might a manager redesign work to encourage workers to know what performance is required and why?
A)combine tasks
B)form natural work units
C)establish client relationships
D)vertically load
E)open feedback channels
Q3) The concept that structure follows strategy was developed by Mintzberg.
A)True
B)False
Q4) What are the four stages of corporate development?
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Chapter 10: Strategy Implementation: Staffing and Directing
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) An action plan states what actions are going to be taken, by whom, during what time frame, and with what expected results.
A)True
B)False
Q2) One of the big common mistakes by corporations sending executives on global assignments is NOT
A)raising their salaries.
B)educating executives about customs and values in other countries.
C)providing training for the regulatory environment.
D)providing excellent health care.
E)giving executives the opportunity to visit home.
Q3) Executive succession is the process of replacing a key top manager.
A)True
B)False
Q4) Hofstede's work on national culture was extended to nine cultural dimensions by
A)RHR International.
B)Project GLOBE.
C)Alfred Chandler.
D)Nahavardi and Malekzadeh.
E)McKinsey & Company.
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Chapter 11: Evaluation and Control
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) Distinguish between behavior and output controls.Provide examples of each.
Q2) Evaluation and control information consists only of performance data.
A)True
B)False
Q3) In one study, 95% of the corporate officers interviewed stated that they use different evaluation techniques for foreign and domestic operations.
A)True
B)False
Q4) The over-billing of customers in Sears's auto repair shops was an example of suboptimization.
A)True
B)False
Q5) One of the key reasons for the success of Wal-Mart has been management's use of the company's sophisticated information system to control purchasing decisions.
A)True
B)False
Q6) Unlike ROI, managers cannot manipulate the numbers of EVA.
A)True
B)False
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Chapter 12: Suggestions for Case Analysis
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99 Flashcards
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Sample Questions
Q1) Which financial indicator is calculated by the ratio of annual dividends per share to current market price per share?
A)return on equity
B)dividend payout ratio
C)dividend yield on common stock
D)price/earnings ratio
E)debt to equity ratio
Q2) Which financial ratio measures the number of times that average inventory of finished goods was turned over or sold during a period of time?
A)days of inventory
B)asset turnover
C)inventory turnover
D)fixed asset turnover
E)average collection period
Q3) One of the most important categories of financial ratios are the liquidity ratios.
A)True
B)False
Q4) What is the Z-value?
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