Competitive Strategy
Solved Exam Questions
Course Introduction
Competitive Strategy examines the frameworks and analytical tools used by firms to gain and sustain competitive advantage in dynamic markets. The course explores core concepts such as industry analysis, value creation, positioning, and strategic resources. Students will analyze case studies and real-world examples to understand how companies formulate strategies, respond to competitive forces, adapt to technological changes, and shape their external environments. Emphasis is placed on identifying opportunities, anticipating competitors moves, and making strategic decisions that drive organizational success.
Recommended Textbook
Strategic Management Concepts and Cases 16th Edition by Fred R. David
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11 Chapters
1321 Verified Questions
1321 Flashcards
Source URL: https://quizplus.com/study-set/1473
Page 2
Chapter 1: The Nature of Strategic Management
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123 Verified Questions
123 Flashcards
Source URL: https://quizplus.com/quiz/29313
Sample Questions
Q1) A vision statement commonly answers the question, "What is our business?" whereas a mission statement is more likely to answer the question "What do we want to become?"
A)True
B)False Answer: False
Q2) A vision statement identifies the scope of a firm's operations in product and market terms.
A)True
B)False Answer: False
Q3) Strategic management focuses on integrating management, ________, and information systems to achieve organizational success.
A) marketing
B) finance and accounting
C) production and operations
D) research and development
E) all of the above
Answer: E
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Page 3
Chapter 2: The Business Vision and Mission
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) A sense of self-concept is one of the nine components found in a good mission statement.
A)True
B)False
Answer: True
Q2) The purpose of a mission statement is to declare all of these EXCEPT
A) a reason for being.
B) an annual financial plan.
C) a statement of purpose.
D) a statement of beliefs.
E) whom an organization wants to serve.
Answer: B
Q3) According to Drucker, a business' mission is the foundation for all of the following EXCEPT
A) priorities.
B) strategies.
C) plans.
D) employee wage rates.
E) work assignments.
Answer: D
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Chapter 3: The External Assessment
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115 Verified Questions
115 Flashcards
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Sample Questions
Q1) External audits attempt to identify key variables that offer actionable responses.
A)True
B)False
Answer: True
Q2) Who are the world's longest-living people?
A) Americans
B) Mexicans
C) Indians
D) Filipinos
E) Japanese Answer: E
Q3) Without assumptions, planning would be
A) impossible.
B) easier.
C) difficult.
D) inexpensive.
E) intuitive.
Answer: A
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Chapter 4: The Internal Assessment
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123 Verified Questions
123 Flashcards
Source URL: https://quizplus.com/quiz/29318
Sample Questions
Q1) Successful strategy formulation generally rests upon the ability of an organization to sell some product or service.
A)True
B)False
Q2) An organization's culture compares to an individual's personality in the sense that no two organizations have the same culture and no two individuals have the same personality.
A)True
B)False
Q3) Selling includes all of these marketing activities EXCEPT
A) advertising.
B) dealer relations.
C) customer analysis.
D) publicity.
E) sales promotion.
Q4) Most producers today sell their goods directly to consumers.
A)True
B)False
Q5) Discuss the five steps involved in performing an Internal Factor Evaluation (IFE) Matrix.
Page 6
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Chapter 5: Strategies in Action
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123 Verified Questions
123 Flashcards
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Sample Questions
Q1) First mover advantages refer to the benefits a firm may achieve by entering a new market or developing a new product or service prior to rival firms.
A)True
B)False
Q2) There were far more global mergers and acquisitions in 2014 than in any year since A) 2007. B) 1999. C) 1985. D) 1967. E) 1951.
Q3) According to Porter, strategies allow organizations to gain competitive advantage from three different bases: cost leadership, differentiation, and decentralization.
A)True B)False
Q4) Discuss each of Michael Porter's five generic strategies.
Q5) Liquidation is often appropriate when retrenchment and divestiture have failed. A)True B)False
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Chapter 6: Strategy Analysis and Choice
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) Strategy analysis and choice largely involves making subjective decisions based on objective information.
A)True
B)False
Q2) Which of these is NOT a SPACE Matrix quadrant?
A) Aggressive
B) Defensive
C) Competitive
D) Offensive
E) Conservative
Q3) In the BCG Matrix, when a division of an organization has a high relative market share and is in a fast-growing industry, it is called a
A) Star.
B) Cash Cow.
C) Cat.
D) Question Mark.
E) Dog.
Q4) In a Boston Consulting Group (BCG) Matrix, all divisions are classified as either Question Marks, Stars, Cash Cows, or Dogs. Define each of these terms.
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Chapter 7: Implementing Strategies: Management, Operations, and Human Resource Issues
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116 Verified Questions
116 Flashcards
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Sample Questions
Q1) A divisional structure by geographic area is most appropriate when A) organizations have similar branch facilities located in widely dispersed areas.
B) an organization offers only a limited number of products or services.
C) consumption patterns for its products and/or services are the same worldwide.
D) the company's customers in different geographic locations have similar needs and characteristics.
E) the firm serves one geographic area.
Q2) Four types of resources that can be used to achieve desired objectives are financial, physical, human, and technological.
A)True
B)False
Q3) What are the advantages and disadvantages of a divisional organizational structure?
Q4) Structure dictates how resources will be allocated. A)True
B)False
Q5) Discuss how work life/home life balance is being addressed by organizations.
Page 9
Q6) How does reengineering differ from restructuring?
Q7) List the four basic ways a divisionally structured firm could be organized.
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Chapter 8: Implementing Strategies: Marketing,
Financeaccounting, Rd, and Mis
Issues
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117 Verified Questions
117 Flashcards
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Sample Questions
Q1) Seemingly minor ethical and questionable actions can catapult these days into huge public relations problems for companies as a result of the monumental online social and business communications.
A)True
B)False
Q2) Information collection, retrieval, and storage can be used to create competitive advantages in ways such as
A) cross-selling to customers.
B) monitoring suppliers.
C) keeping managers and employees informed.
D) coordinating activities among divisions.
E) all of the above
Q3) Four common corporate Valuation methods are the Net Worth Method, the Net Income Method, the Gross Income Method, and the Outstanding Shares Method.
A)True
B)False
Q4) A firm can usually serve two or more market segments with the same strategy.
A)True
B)False
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Chapter 9: Strategy Review, Evaluation, and Control
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122 Verified Questions
122 Flashcards
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Sample Questions
Q1) In contingency planning it is crucial that strategists cover all bases.
A)True
B)False
Q2) Taking corrective actions, requires making changes to competitively reposition a firm for the future.
A)True
B)False
Q3) With regard to the visible or hidden issue, most executives agree that
A) the SEC should regulate whether or not companies make their strategic information visible.
B) some strategic information should remain confidential to top managers.
C) a company has gone too far when it takes steps to ensure that strategic information is not disseminated beyond "the inner circle."
D) the potential benefit of improved employee and stakeholder motivation and input is not worth the risk of rival firms easily knowing and exploiting a firm's strategies.
E) keeping strategies secret from employees and stakeholder will likely improve communication, understanding, and commitment.
Q4) List and describe Rumelt's four criteria for evaluating strategies.
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11
Chapter 10: Business Ethics, Social Responsibility, and Environmental Sustainability
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117 Verified Questions
117 Flashcards
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Sample Questions
Q1) Most firms warn managers and employees that reporting an ethical violation by others could cause them to be discharged.
A)True
B)False
Q2) More and more firms believe that ethics training and an ethics culture create strategic advantage.
A)True
B)False
Q3) Despite greater interest in sustainability, uniform standards defining environmentally responsible company actions are only slowly being incorporated into the legal landscape.
A)True
B)False
Q4) Sustainability reports reveal how a firm's operations impact the natural environment.
A)True
B)False
Q5) List five reasons why preserving the environment should be a permanent part of doing business.
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Chapter 11: Global and International Issues
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126 Verified Questions
126 Flashcards
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Sample Questions
Q1) Discuss the economic outlook for Africa.
Q2) Joint ventures and partnerships between domestic and foreign firms are
A) falling out of favor.
B) increasingly difficult to engineer.
C) the exception rather than the rule.
D) extremely commonplace.
E) subject to too many regulations to be feasible.
Q3) Mass communication and high technology have ________ in diverse cultures worldwide.
A) created similar patterns of consumption
B) resulted in highly individualized patterns of consumption
C) rendered patterns of consumption identical
D) had little to no effect on patterns of consumption
E) ignored patterns of consumption
Q4) In general, U.S. managers feel the day has been productive if it is spent
A) rushing to meetings, appointments, and conferences.
B) resting.
C) listening.
D) meditating.
E) thinking.
Page 13
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