Corporate Strategy
Practice Questions
Course Introduction
Corporate Strategy delves into the frameworks and analytical tools organizations use to achieve long-term success and maintain a competitive advantage in complex markets. The course examines the formulation, implementation, and evaluation of strategies at the corporate level, including portfolio management, diversification, mergers and acquisitions, global expansion, and strategic alliances. Students explore how corporate leaders assess external opportunities and internal capabilities, align business units, and make decisions that shape the direction of multi-business firms. Emphasis is placed on strategic thinking, real-world case studies, and the practical challenges faced by executives responsible for steering organizations toward sustainable growth.
Recommended Textbook
Strategic Management A Competitive Advantage Approach Concepts and Cases 14th Edition by Available Study Resources on Quizplus
Chapters
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Chapter 1: The Nature of Strategic Management
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Sample Questions
Q1) ________ allows firms to sell products, advertise, purchase supplies, bypass intermediaries, track inventory, and eliminate paperwork.
A) Social networking
B) E-commerce
C) Blogging
D) Video sites
E) None of the above
Answer: B
Q2) Strategic management focuses on integrating management, ________, and information systems to achieve organizational success.
A) marketing
B) finance/accounting
C) production/operations
D) research and development
E) all of the above
Answer: E
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Chapter 2: The Business Vision and Mission
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Sample Questions
Q1) Which of the following is NOT one of the nine recommended components of a mission statement?
A) Strategies
B) Self-concept
C) Concern for employees
D) Markets
E) Customers
Answer: A
Q2) A study by Rarick and Vitton found that firms with a formalized mission statement have ________ the average return on shareholders' equity than those firms without a formalized mission statement.
A) one-quarter
B) half
C) twice
D) three times
E) five times
Answer: C
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Chapter 3: The External Assessment
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Sample Questions
Q1) Significant barriers to entry are not always sufficient to keep some new firms from entering industries with higher-quality products, lower prices, and substantial marketing resources.
A)True
B)False Answer: True
Q2) Remaining solely domestic is an increasingly safer strategy for U.S. companies.
A)True
B)False
Answer: False
Q3) By 2075, the United States will have no racial or ethnic majority.
A)True
B)False
Answer: True
Q4) Major competitors' strengths may represent key threats.
A)True
B)False
Answer: True
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Chapter 4: The Internal Assessment
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Sample Questions
Q1) Value chain analysis can enable a firm to better identify its own strengths and weaknesses especially as compared to competitors' value chain analyses.
A)True
B)False
Q2) What is the essential bridge between the present and the future that increases the likelihood of achieving desired results?
A) Motivating
B) Planning
C) Controlling
D) Staffing
E) Organizing
Q3) Which of the following were NOT mentioned as an example of cultural products?
A) Rites
B) Emotions
C) Rituals
D) Sagas
E) Symbols
Q4) Define cultural products, and give six examples of them.
Q5) Discuss the five steps involved in performing an IFE Matrix.
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Chapter 5: Strategies in Action
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Sample Questions
Q1) When the correlation between dollar sales and dollar marketing expenditures has historically been low, market penetration is an appropriate strategy.
A)True
B)False
Q2) A growing trend is for franchisers to buy out their part of the business from their franchisees.
A)True
B)False
Q3) Which of the following is most likely NOT included in the functional level of a small company?
A) Finance
B) Marketing
C) R&D
D) Department managers
E) Human resource managers
Q4) Compare and contrast the five types of bankruptcy: Chapters 7, 9, 11, 12 and 13.
Q5) Chapter 9 bankruptcy applies to municipalities.
A)True
B)False
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Chapter 6: Strategy Analysis and Choice
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Sample Questions
Q1) The trend in the U.S. is toward larger boards, with an average of 18 members being the norm.
A)True
B)False
Q2) The two positive-rated dimensions on the SPACE Matrix are
A) FP and CP.
B) CP and SP.
C) FP and IP.
D) IP and SP.
E) FP and SP.
Q3) In the SPACE analysis, what does a (+6, +3) strategy profile portray?
A) A strong industry position
B) An unstable environment
C) A stable environment
D) A weak industry position
E) A weak financial position
Q4) The Grand Strategy Matrix is based on two evaluative dimensions, market share and market growth.
A)True
B)False
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Chapter 7: Implementing Strategies: Management and Operations Issues
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Sample Questions
Q1) What is NOT one of the basic ways a divisional structure can be organized?
A) By geographic area
B) By product
C) By customer
D) By process
E) By cost
Q2) ESOPs work well even in firms with fluctuating payrolls and profits.
A)True
B)False
Q3) Formal statements of organizational philosophy, charters, creeds, materials used for recruitment and selection, and socialization help an organization
A) abide by SEC laws.
B) link culture to strategy.
C) set guidelines for firing.
D) increase profits.
E) manage conflicts between stakeholders.
Q4) Production processes typically constitute less than 50 percent of a firm's total assets.
A)True B)False
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Chapter 8: Implementing Strategies: Marketing, Financeaccounting,
RD, and MIS
Issues
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Q1) The only reasons businesses have for determining their worth is preparing to be sold or to buy other companies.
A)True
B)False
Q2) All of the following are examples of marketing decisions that may require policies EXCEPT
A) to be a market leader or follower
B) how to make advertisements more interactive to be more effective
C) to offer a complete or limited warranty
D) to use heavy, light, or no TV advertising
E) to use exclusive dealerships or multiple channels of distribution
Q3) Too much emphasis on evaluating strategies may be expensive and counterproductive.
A)True
B)False
Q4) Name five examples of finance/accounting decisions that may require policies.
Q5) The most dramatic new market-segmentation strategy is the targeting of regional tastes.
A)True
B)False
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Chapter 9: Strategy Review, Evaluation, and Control
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Q1) Discuss the three particular challenges that strategists face today.
Q2) All of these are Richard Rumelt's criteria to evaluate a strategy EXCEPT
A) advantage
B) consistency
C) feasibility
D) distinctiveness
E) consonance
Q3) The strategic management process should be completely open because participation and openness enhance understanding, commitment, and communication within the firm.
A)True
B)False
Q4) Measuring organizational performance requires making changes to reposition a firm competitively for the future.
A)True
B)False
Q5) According to Richard Rumelt, consonance and consistency are mostly based on a firm's external assessment.
A)True
B)False
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Chapter 10: Business Ethicssocial
Responsibilityenvironmental Sustainability
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Q1) In Europe, romantic relationships at work are frowned upon, and most firms have policies prohibiting the practice.
A)True
B)False
Q2) The _______ is a network of the national standards institutes of 147 countries, one member per country.
A) ISO
B) EMS
C) UN
D) EPA
E) IMF
Q3) Employee wellness cannot be a part of sustainability.
A)True
B)False
Q4) Unlike the U.S., Japan has no law against discrimination based on age.
A)True
B)False
Q5) A bribe is a gift bestowed to influence another's conduct.
A)True
B)False
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Chapter 11: Globalinternational Issues
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Q1) Mexican workers expect and desire a work environment in which self-expression and initiative are encouraged.
A)True
B)False
Q2) ________ can enable firms to learn the technology, culture, and business practices of other people and to make contacts with potential customers, suppliers, creditors, and distributors in foreign countries.
A) Economies of scale
B) Joint ventures
C) Low-cost production facilities
D) Reduced tariffs
E) Domestic operations
Q3) All of the following are things that many cultures around the world value more than the competitiveness that is so important in the U.S. EXCEPT
A) modesty
B) team spirit
C) individualism
D) collectivity
E) patience
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