Corporate Strategy
Final Exam Questions
Course Introduction
Corporate Strategy explores the frameworks, tools, and practices that organizations use to create and sustain competitive advantage at the corporate level. The course examines how firms make decisions related to diversification, mergers and acquisitions, vertical integration, global expansion, and strategic alliances. Students will analyze real-world cases to understand the formulation and implementation of strategies that align resources, capabilities, and market opportunities. Emphasis is placed on the roles of top management, governance structures, and external environments in driving long-term organizational success.
Recommended Textbook
Strategic Management Creating Competitive Advantages 7th Edition by Gregory Dess
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12 Chapters
1171 Verified Questions
1171 Flashcards
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Chapter 1: Strategic Management: Creating Competitiveadvantages
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) In large organizations,conflicts can arise between functional areas.In order to resolve these conflicts,strategic objectives:
A) put financial objectives above human considerations
B) align departments toward departmental goals
C) help resolve conflicts through their common purpose
D) cause debate and increase conflict
Answer: C
Q2) According to the text,the triple bottom line approach to corporate accounting includes three components:
A) financial, environmental, and customer
B) financial, organizational, and customer
C) financial, environmental, and social
D) financial, organizational, and psychological
Answer: C
Q3) The three interrelated and principal activities of strategic management are: strategy analysis,strategy formulation,and strategy implementation.
A)True
B)False
Answer: True
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Chapter 2: Analyzing the External Environment Ofthe Firm:
Creating Competitive Advantages
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) Competitor Intelligence (CI)is a tool that can provide management with early warnings about both threats and opportunities.
A)True
B)False
Answer: True
Q2) The aging of the population,changes in ethnic composition,and effects of the baby boom are ____.
A) macroeconomic changes
B) demographic changes
C) global changes
D) sociocultural changes
Answer: B
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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Chapter 3: Assessing the Internal Environmentof the Firm
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97 Verified Questions
97 Flashcards
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Sample Questions
Q1) In the resource-based view of the firm,examples of tangible resources include:
A) financial resources, human resources, and firm competencies
B) financial resources, physical resources, and technological resources
C) financial resources, physical resources, and the capacity to combine intangible resources
D) outstanding customer service, innovativeness of products, and reputation
Answer: B
Q2) Products and services that are difficult to imitate help firms sustain their profitability.
A)True
B)False
Answer: True
Q3) Which of the following is a support activity?
A) inbound logistics
B) technology development
C) operations
D) customer service
Answer: B
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Chapter 4: Recognizing a Firms Intellectual Assets: Moving
Beyond a Firms Tangibleresources
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) The most effective method of improving retention of top talent at a firm is to intensify its hiring efforts.
A)True
B)False
Q2) Mary Stinson was required to take over a project after the entire team left the company.She was able to reconstruct what the team had accomplished through reading e-mails exchanged by the members of the team.This is an example of
A) inefficient use of information management
B) using explicit knowledge
C) using tacit knowledge
D) using replicated knowledge
Q3) The makeup of goods and services in the Gross Domestic Products of developed countries has changed over the last decade.More than 50 percent of the value of GDP of developed countries is based on _____.
A) clothing and apparel
B) capital accumulation
C) knowledge
D) financial management
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Q4) Address some of the challenges associated with protecting intellectual property.
Chapter 5: Business-Level Strategy: Creating
Andsustaining Competitive Advantages
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) Which statement regarding competitive advantages is true?
A) With an overall cost leadership strategy, firms need not be concerned with parity on differentiation.
B) If several competitors pursue similar differentiation tactics, they may all be perceived as equals in the mind of the consumer.
C) In the long run, a business with one or more competitive advantages is probably destined to earn normal profits.
D) Attaining multiple types of competitive advantage is a recipe for failure.
Q2) The decline stage of the industry life cycle stage is inevitably followed by death.
A)True
B)False
Q3) A potential pitfall of a focus strategy is that focusers can become too focused to satisfy buyer needs.
A)True
B)False
Q4) Explain the advantages of the four alternative strategies of maintaining,harvesting,exiting,and consolidating that are associated with the decline stage of the market life cycle.
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Chapter 6: Corporate-Level Strategy: Creatingvalue Through Diversification
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102 Flashcards
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Sample Questions
Q1) Core competencies do not create value in a business.
A)True
B)False
Q2) According to the text,corporate restructuring includes
A) capital restructuring, asset restructuring, and technology restructuring
B) global diversification, capital restructuring, and asset restructuring
C) management restructuring, financial restructuring, and procurement restructuring
D) capital restructuring, asset restructuring, and management restructuring
Q3) At times,the only other people who may have benefited from a merger-acquisition were the shareholders of the acquired firms.
A)True
B)False
Q4) Research shows that the vast majority of acquisitions results in value creation rather than value destruction.
A)True
B)False
Q5) Many acquisitions ultimately result in divestiture.
A)True
B)False
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Chapter 7: International Strategy: Creating Valuein Global Markets
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101 Flashcards
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Sample Questions
Q1) Recent trends that might lead managers of multinational corporations (MNCs)to adopt a more decentralized strategy for their operations would include all of the following EXCEPT ______.
A) customer needs, interests, and tastes becoming increasingly homogenized
B) consumers around the world increasingly willing to tradeoff idiosyncratic preferences in product features for lower price
C) flexible manufacturing trends allowing a decline in the minimum volume required to reach acceptable levels of production efficiency
D) fluctuating exchange rates
Q2) Which of the following is a disadvantage of a transnational strategy?
A) less ability to realize cost savings through scale economies
B) limited ability to adapt to local markets
C) unique managerial challenges in fostering knowledge transfer
D) single locations may lead to higher tariffs and transportation costs
Q3) Because many countries are investing in countries other than their own,each country is becoming more autonomous and independent.
A)True
B)False
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Chapter 8: Entrepreneurial Strategy and Competitive Dynamics
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100 Flashcards
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Sample Questions
Q1) Which of the following is NOT one of the three characteristics of entrepreneurial leadership mentioned by the text?
A) vision
B) dedication and drive
C) commitment to excellence
D) clarifying job responsibilities
Q2) Define the term competitive dynamics.Then,describe the cycle of actions and responses that are characteristic of a competitive dynamics process.
Q3) According to the text,which of the following might does not make it difficult for entrepreneurial firms to effectively pursue a strategy of differentiation?
A) Incumbent firms are constantly seeking opportunities to specialize in market niches.
B) Differentiation strategies are often expensive to enact.
C) It may be difficult for a young firm to establish a strong brand identity.
D) Implementing superior new technologies may be challenging for entrepreneurial firms.
Q4) Compare and contrast market commonality and resource similarity.
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Chapter 9: Strategic Control and Corporategovernance
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Sample Questions
Q1) When subcultures emerge that have shared values opposite from the dominant culture of an organization _____________.
A) organizational cohesiveness increases
B) information is shared rather than hoarded
C) individuals begin working at cross purposes
D) individuals gain insights into overarching goals and objectives
Q2) The primary participants in corporate governance,according to Monks and Minow,are the shareholders,board of directors,and employees.
A)True
B)False
Q3) Boards of directors have responded to financial crises,corporate scandals,regulator obligations,and investor requests for structural changes.In looking at the 2011 Harvard Business Review study of the changes in configuration of boards since 1987,which change has been brought about by government legislation?
A) Percentage of boards that have an average age of 64 or older has increased.
B) Average pay for directors has increased.
C) Percentage of boards with 12 or fewer members has increased.
D) Percentage of the directors that are independent has increased.
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Chapter 10: Creating Effective Organizational Designs
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Sample Questions
Q1) Generally speaking,discussions of the relationship between strategy and structure strongly imply that _____________.
A) strategy follows structure
B) structure follows strategy
C) strategy can effectively be formulated without considering structural elements
D) structure typically has a very small influence on the strategy of a firm
Q2) Ambidextrous organizational designs are useful for firms that wish to create modest,incremental innovations at the same time as dramatic,breakthrough innovation.This is done by maintaining adaptability and alignment of values and coordination across organizational activities.
A)True
B)False
Q3) Global start-ups occur after a corporation has exhausted all other possibilities for domestic growth.
A)True
B)False
Q4) Briefly describe global start-ups.What advantages do they have and what challenges do they face?
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Chapter 11: Strategic Leadership: Creating a Learning
Organization and an Ethical Organization
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Sample Questions
Q1) Coercive power is the power exercised by use of fear of punishment for errors of either omission or commission by employees.
A)True
B)False
Q2) 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
Q3) Refusal to share information,conflicts over resources,conflicts between departments and divisions,and petty interpersonal differences are symptoms of which type of barrier to change?
A) systemic barriers
B) political barriers
C) behavioral barriers
D) entry barriers
Q4) Discuss the differences between integrity-based and compliance-based approaches to organizational ethics.
Q5) What are some of the potential drawbacks of emotional intelligence?
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Chapter 12: Managing Innovation and Fosteringcorporate Entrepreneurship
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Sample Questions
Q1) Which of the following is not one of the dimensions of entrepreneurial orientation?
A) proactiveness
B) risk taking
C) autonomy
D) opportunism
Q2) Strategic reasons for undertaking a corporate venture do not include _____________.
A) entering into new markets
B) expanding capabilities by acquiring new knowledge
C) building the base of corporation resources
D) reducing stakeholder commitment
Q3) In the 1990s,DuPont used its knowledge of plastics to develop biodegradable plastic products.This is an example of _____________.
A) focusing on process rather than product innovation
B) defining its innovation efforts within the context of its strategic envelope
C) radical innovation
D) public relations, since plastics are not biodegradable
Q4) What are product champions and why are they important to corporate entrepreneurship?
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