Corporate Strategy
Pre-Test Questions
Course Introduction
Corporate Strategy examines the frameworks, tools, and analytical approaches that senior executives use to guide organizations in achieving long-term success in complex, competitive environments. The course explores how firms define their mission, set objectives, and make decisions regarding diversification, vertical integration, global expansion, mergers and acquisitions, and resource allocation. Students will learn how to evaluate a company's position within its industry, identify sources of competitive advantage, and formulate strategies that create sustainable value. Through case studies, discussions, and practical assignments, participants will develop the ability to critically analyze strategic choices and understand the roles of leadership, organizational structure, and external factors in shaping corporate outcomes.
Recommended Textbook
Strategic Management Concepts BRV 1st Edition by Jeffrey H. Dyer
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Page 2
Chapter 1: What Is Business Strategy?
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Sample Questions
Q1) Thomas is an important figure at Seasons Inc.All of the company's functions, acquisitions, marketing strategies, and business development plans need to partially receive approval from Thomas.This is due to the fact that Thomas owns 20% of Seasons Inc.In this scenario, Thomas is a _____.
A) supplier
B) stakeholder
C) customer
D) distributor
Answer: B
Q2) Adia and Ali are two business partners who want to set up a company that sells imported sports gear and equipment.In order to make sure that the company makes and retains profit, they must choose an area that is close to where their products have the highest demand.This area should allow them consistently to make profit.In this scenario, Adia and Ali are looking for a _____.
A) market
B) strategy
C) cost advantage
D) mission
Answer: A
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3
Chapter 2: Analysis of the External Environment: Opportunities and Threats
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Sample Questions
Q1) In what way are switching costs a fundamental part of not just rivalry but also the force of new entrants?
Answer: If buyers can easily switch to new companies attempting to enter the industry, there is a greater threat of new entrants.
Q2) A firm that provides products that are inputs to another firm's production process is known as a(n) _____.
Answer: supplier
Q3) Which of the following statements is true about concentrated industries?
A) These industries have few competitors and rivalry is less intense.
B) Smaller competitors usually respond aggressively to actions taken by large firms.
C) Few large competitors are aware of each other's presence and therefore more likely to create conflict.
D) If firms are approximately the same size, they tend to be able to respond, or retaliate, strongly to moves by rival firms.
Answer: A
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4
Chapter 3: Internal Analysis: Strengths, Weaknesses, and Competitive Advantage
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Sample Questions
Q1) Resources that create _____ can be defined as those that create economic value for a firm.
A) opportunities
B) liabilities
C) costs
D) profits
Answer: D
Q2) A media house wanted to report on the continued success of the software company, AlphaDigiPro Inc.The reporters decided to assess the company in two ways.They spoke to the top management employees and handed out questionnaires to other employees.The results of these data collection techniques helped the media house construct a good article.This scenario illustrates the use of _____.
A) focus groups
B) archival data
C) interviews
D) observation
Answer: C
Q3) Define resources.
Answer: Resources are what a firm employs to create value and competitive advantage.
Page 5
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Chapter 4: Cost Advantage
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Q1) Which of the following is a primary characteristic of employing automated equipment in a company with high levels of production?
A) They help employees to acquire specialized knowledge that helps them complete tasks more efficiently.
B) The general and administrative costs would be high for large companies.
C) They do not help in spreading out the fixed cost of production.
D) Large companies can reduce per-unit cost of production.
Q2) Connections Communications Inc.has been able to achieve optimal efficiency by identifying a task for each employee and enabling them to become thoroughly proficient in their tasks.The company has realized that employees develop an expertise in their specified job profile over time and they gradually begin to work faster than when they started the job.This is an example of _____.
A) task specialization
B) employee specialization
C) minimum efficient scale
D) competitive parity
Q3) Define learning curve, experience curve, and scale curve.Compare them with each other.
Q4) Explain proprietary knowledge and its important sources.
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Chapter 5: Differentiation Advantage
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Sample Questions
Q1) The marketing department of a cosmetics brand conducts a research.40% of its customers said that they prefer the brand because they do not need to reapply the product often, while 30% said that they chose the brand because the products are organic.If the brand segments the customers by the features of the cosmetics they prefer, the segmentation is primarily based on _____.
A) brand image
B) demographics
C) product attributes
D) psychographics of wholesalers
Q2) Purple Inc., an interior design company, offers its clients unique design solutions.Clients can choose from Purple's in-house products, customize them to meet their needs, and see how their home would appear using a 3D visualization software in a mini-theatre at Purple's office.This gives Purple a competitive advantage over its rivals since none of them offer this unique combination of services.Purple's advantage is due to its _____.
A) service standardization strategy
B) mass customization strategy
C) product differentiation strategy
D) supply-driven strategy
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Page 7
Chapter 6: Corporate Strategy
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Sample Questions
Q1) Blue Work LLC, a software company, purchased an electronics and electrical company and implemented its resources and technologies in the target company.Blue Work changed the entire culture and brand of the target company and introduced its own culture such that the identity of the target company disappeared.Blue Work benefitted from this acquisition and witnessed a significant growth.This type of acquisition is known as a _____.
A) greenfield entry
B) takeover
C) union
D) merger
Q2) A firm earning more than 95 percent of the revenues from a single line of business is known as a _____.
Q3) Which of the following is an example of a horizontal diversification?
A) A new company selling a new product in the market
B) An old company increasing its supply of existing products
C) A company acquiring its raw materials from many parts of the world
D) A new company trying to reintroduce an old product with improved advertising tactics
Q4) Explain the ways in which diversification adds value.
Q5) In vertical integration, movement in the direction of raw materials is _____.
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Chapter 7: Vertical Integration and Outsourcing
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Q1) DHC Inc.is a television manufacturing company.The components of the televisions are manufactured separately by different companies around the globe.Later, these components are tested and then assembled to get the finished products in house by DHC Inc.In the context of the degree of coordination, this scenario best illustrates _____.
A) sequential interdependence
B) reciprocal interdependence
C) modular interdependence
D) extensive interdependence
Q2) The process where a firm contracts out a business process or activity to an external supplier is known as _____.
A) outsourcing
B) vertical integration
C) horizontal diversification
D) market penetration
Q3) Explain the three Cs of vertical integration.
Q4) What is the main difference between a company that is vertically integrated and a company that is vertically specialized?
Q5) In the context of coordination, what is modular interdependence?
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Page 9
Chapter 8: Strategic Alliances
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Q1) Companies have three choices-make, buy, or ally-when it comes to conducting any particular activity that needs to be done to offer a product or service to a customer.Explain the three choices and the process involved in each.
Q2) A(n) _____ is a type of strategic alliance in which cooperation between firms is managed directly through contracts, without cross-equity holdings, or an independent firm being created.
Q3) What are the four kinds of inputs and activities that might qualify as strategic inputs, which merit forming an alliance relationship? Explain the four inputs with suitable examples.
Q4) Which of the following statements is true about firms that establish strategic alliances?
A) Firms that collaborate at the sales stage are not considered strategic partners.
B) Firms that produce different products cannot enter a strategic alliance.
C) Firms can collaborate to improve their performance at any stage along the value chain.
D) Firms often enter strategic alliances at the cost of losing their relational advantage.
Q5) What are the different types of nonequity alliances?
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Page 10
Chapter 9: International Strategy
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Q1) Tokef Inc., a U.S.-based firm, adopts a multidomestic strategy to enter the Japanese market.Which of the following is likely to be true in this case?
A) It is likely to focus on local responsiveness over standardization.
B) It is likely to focus on economies of scale over local responsiveness.
C) It is likely to focus on global standardization over local responsiveness.
D) It is likely to focus on standardization over mass customization.
Q2) Nina, a marketing student, studies how people from different countries accept ambiguity or follow rules and laws.When she focuses on this specific trait while studying the distance between a domestic and foreign market, she is likely to be focusing on the markets' _____.
A) administrative distance
B) geographic distance
C) legal distance
D) cultural distance
Q3) _____ is the need to tailor an organization's products, marketing, and distribution strategies to the local customers in a foreign country.
Q4) Explain the ways to manage variation and successfully pursue a multidomestic strategy.
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Page 11
Chapter 10: Innovative Strategies That Change the Nature of Competition
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Q1) A radical innovative strategy in which companies in the same industry find the innovation so destructive that they can no longer do business as usual is called a(n)
Q2) Palm's, a new restaurant in Boston, enters the market with a new strategy.Cooking enthusiasts can co-create a dish for their family along with the in-house chefs.They also allow families to cook their meals together and dine by the poolside.None of the other restaurants in the city offers this unique service.This is an example of a _____.
A) blue ocean strategy
B) low-end disruptive innovation
C) mass-customization strategy
D) high-end disruptive innovation
Q3) _____ refers to Professor Rich's argument that competitive intensity has increased, and that periods of competitive advantage have decreased.
A) Hypercompetition
B) Mass customization
C) Third-party competition
D) Standardization
Q4) Define two general categories of innovations.
Page 12
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Chapter 11: Competitive Strategy
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Q1) Any factor that limits the ability of a company to move between strategic groups is called a(n) _____.
Q2) An automobile manufacturing firm has dominated its market by consistently releasing automobile upgrades and enhancements.Which of the following is being exemplified in this case?
A) Implementing a tit-for-tat strategy
B) Limiting competitive access to scarce resources
C) Introducing new products frequently
D) Representing the Nash equilibrium
Q3) Laser Tech., a leading printing firm, launches a new printing technique to meet the changing demands of the market.Blue Corp., its prime competitor, had been rigid in adapting to the changes in the market and is put out of business because of the launch of the new technique by Laser.Which of the following is exemplified in this case?
A) Knowing the strengths and weaknesses
B) Bringing strength against weakness
C) Neutralizing vulnerability
D) Developing strategies that cannot be easily copied
Q4) Briefly describe the game theory.
Q5) Briefly describe competition under monopoly.
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Chapter 12: Implementing Strategy
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Q1) When an organizational element or practice is made so essential that its value is taken for granted, it is referred to as _____.
A) generating a sense of urgency
B) building a guiding coalition
C) creating a vision
D) institutionalizing change
Q2) Janice is the sales head at a dairy exporting firm.She spends much of her time interacting with people from various cultural backgrounds.The competitive and risk-taking attitude of Janice is different from those in more conservative work areas.In the context of the 7 S model of organizational alignment, which of the following is being exemplified in this case?
A) Structure
B) Strategy
C) Skills
D) Style
Q3) Write a note on the structure of the 7 S model of organizational alignment.
Q4) Write a note on the principle of line of sight.
Q5) Explain the hard triangle and soft square in the 7 S model.
Q6) What are the eight steps to successful change?
Page 14
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Chapter 13: Corporate Governance and Ethics
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Q1) TinyToys Inc.is a company that manufactures toys.Which of the following would be its secondary stakeholder?
A) Other local toy manufacturers
B) Companies that supply its raw materials
C) People who purchase its toys
D) People who work for the company
Q2) Yellow Moon Inc.is a company that manufactures consumer electronics.Its investors will be primarily affected by the business through the:
A) training and development provided to its employees.
B) employees living in its community.
C) earnings generated by the company.
D) order consistency of the company.
Q3) _____ are those values that define for an individual, group, or society things that are morally right or wrong.
Q4) Who is a stakeholder of a business organization?
Q5) Explain with examples how the engagement of a company with its key stakeholders can affect its overall performance and competitive advantage.
Q6) Define ethical behavior.
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Chapter 14: Strategy and Society
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Q1) In the context of the value net model, an individual or organization that makes customers value an organization's output more because of its product or service is known as a(n) _____.
A) competitor
B) customer
C) supplier
D) complementor
Q2) Discuss the four roles played by stakeholders in the value net.
Q3) Dominic works as a trainer in a content analyst firm, Revel Inc., which specializes in corporate training programs.He trains employees on the various skill sets required to perform their job effectively thereby resulting in the transfer of knowledge and skills.This is an example of _____.
A) incremental innovation
B) corporate social responsibility
C) institutional change
D) capacity building
Q4) _____ refers to a social entrepreneur who creates something new through the combination of diverse and different elements.
Q5) Differentiate between institutional change and capacity building.
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