Corporate Strategy Study Guide Questions
Course Introduction
Corporate Strategy explores the frameworks and analytical tools used by organizations to establish long-term objectives, allocate resources, and create value across multiple business units or markets. The course examines how companies assess competitive environments, diversify operations, manage mergers and acquisitions, and respond to global challenges. Through case studies and real-world examples, students learn how top management develops and implements strategic initiatives to achieve sustainable advantage and drive corporate growth.
Recommended Textbook
Strategic Management Creating Competitive Advantages 9th Edition by Gregory G Dess Dr
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12 Chapters
1223 Verified Questions
1223 Flashcards
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Chapter 1: Strategic Management: Creating Competitive Advantages
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106 Verified Questions
106 Flashcards
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Sample Questions
Q1) ________ may be considered the advance work that must be done in order to effectively formulate and implement strategies.
A) Goal setting
B) Corporate entrepreneurship
C) Strategy analysis
D) Organizational design
Answer: C
Q2) Peter Senge,of MIT,recognized three types of leaders.________ are individuals that,although having little positional power and formal authority,generate their power through the conviction and clarity of their ideas.
A) Local line leaders
B) Executive leaders
C) Internal networkers
D) Shop floor leaders
Answer: C
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Page 3
Chapter 2: Analyzing the External Environment of the Firm:
Creating Competitive Advantages
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114 Verified Questions
114 Flashcards
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Sample Questions
Q1) Gathering competitive intelligence
A) is illegal.
B) is good business practice.
C) is considered unethical.
D) minimizes the need to obtain information in the public domain.
Answer: B
Q2) Which of the following statements about strategic groups is false?
A) Two assumptions are made: (1) no two firms are totally different, and (2) no two firms are exactly the same.
B) Strategic groupings are of little help to a firm in assessing mobility barriers that protect a group from attacks by other groups.
C) Strategic groups help chart the future directions of firm strategies.
D) Strategic groups are helpful in thinking through the implications of each industry trend for the group as a whole.
Answer: B
Q3) In some industries,low switching costs can act as an important barrier to entry.
A)True
B)False
Answer: False
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Chapter 3: Assessing the Internal Environment of the Firm
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) The customer perspective of the balanced scorecard answers which of the following questions?
A) How do customers see us?
B) What must we excel at?
C) How do we look to shareholders?
D) Can we continue to improve and create value?
Answer: A
Q2) Inbound logistics include which of the following?
A) machining and packaging
B) repair and parts supply
C) promotion and packaging
D) warehousing and inventory control
Answer: D
Q3) Which of the following is not a tangible resource?
A) technical and scientific skills
B) trade secrets, patents, copyrights
C) state-of-the art machinery
D) company borrowing capacity
Answer: A
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Page 5
Chapter 4: Recognizing a Firm's Intellectual Assets: Moving
Beyond a Firm's Tangible Resources
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112 Flashcards
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Sample Questions
Q1) The creation of knowledge assets is typically characterized by
A) high upfront costs and subsequent high variable costs.
B) high fixed costs and high variable costs.
C) high upfront costs and low variable costs.
D) low upfront costs and high variable costs.
Q2) In order to take advantage of investment in human capital,a firm should
A) rotate workers through functions in the company as quickly as possible.
B) keep employees in the same position forever.
C) refrain from training individual employees.
D) establish practices that will enhance employee retention.
Q3) Knowledge-based resources tend to be more ________ in nature and therefore they are ________ difficult to protect against loss (i.e.,the individual quitting the organization)than other types of capital,such as equipment,machinery,and land.
A) explicit; less
B) explicitly; more
C) tacit; more
D) tacit; less
Q4) Knowledge workers are more loyal to their companies than traditional workers.
A)True
B)False
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Chapter 5: Business-level Strategy: Creating and Sustaining Competitive Advantages
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) In the ________ stage of the industry life cycle,the emphasis on product design is very high,the intensity of competition is low,and the market growth rate is low.
A) growth
B) maturity
C) introduction
D) decline
Q2) Given the attractiveness of premium pricing during the growth stage of the market life cycle,managers should emphasize short-term results to increase profits.
A)True
B)False
Q3) A low-cost position permits buyers to exert power to drive ________ prices only to the level of the next most efficient producer.
A) up
B) down
C) increasing
D) decreasing
Q4) What is a focus strategy? Provide an example where this has been implemented successfully.
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Chapter 6: Corporate-level Strategy: Creating Value Through Diversification
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) A firm should consider vertical integration when
A) the competitive situation is highly volatile.
B) customer needs are evolving.
C) the suppliers of raw materials to the firm are unable to maintain quality standards.
D) the suppliers of the firm willingly cooperate with the firm.
Q2) An acquisition that results in ________ commonly indicates that expectations were not met.
A) expansion
B) divestiture
C) cost savings
D) increased sales
Q3) Greenmail is an offer by a company,threatened by takeover,to offer its stock at a reduced price to a third party.
A)True
B)False
Q4) Diversification initiatives must be justified by the creation of value for shareholders.
A)True
B)False
Page 8
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Chapter 7: International Strategy: Creating Value in Global Markets
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107 Flashcards
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Sample Questions
Q1) Shared Spanish colonialism is one reason that explains regionalism tendencies in A) Asia.
B) South America.
C) the United States.
D) Africa.
Q2) Which of the following is not a risk associated with a global strategy?
A) A firm with only one manufacturing location must export its product, sometimes at great distance from the operation.
B) The geographic concentration of any activity may also tend to isolate that activity from the targeted markets.
C) Concentrating an activity in a single location makes the rest of the firm dependent on that location.
D) The pressures for local adaptation may elevate the cost structure of the firm.
Q3) Trading blocs and free trade zones erode the rise of international expansion.
A)True
B)False
Q4) What is a beachhead strategy and how does it contribute to a company's decision to internationalize?
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Chapter 8: Entrepreneurial Strategy and Competitive Dynamics
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Sample Questions
Q1) TOMS Shoes generates interest in its products without a large advertising budget.It uses a Facebook page to create buzz.This is an example of a
A) strategic action.
B) tactical action.
C) focused advantage.
D) differentiated focus.
Q2) The majority of entrepreneurial start-ups are financed with angel financing.
A)True
B)False
Q3) Smell-O-Vision designed an invention to pump odors into movie theatres.It flopped,in spite of its innovativeness.What kind of new entry strategy was the company using to penetrate the market?
A) imitative
B) adaptive
C) pioneering
D) differentiated
Q4) What are competitive dynamics and how does this explain why strategies evolve in response to actions of close competitors?
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Q5) Explain what a pioneering new entry means and when it is appropriate to use it.
Chapter 9: Strategic Control and Corporate Governance
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) Which of the following statements about action plans is true?
A) Action plans should permit a degree of autonomy to managers and not be constrained by budgets.
B) Action plans must be specific so that managers have a clear understanding of the resource requirements necessary to implement the plan.
C) Action plans should not be constrained by a time frame in order to allow for modification.
D) Action plans should hold employees accountable for the implementation.
Q2) Which of the following is not a characteristic of effective reward and incentive systems?
A) Performance measures are clear and highly visible.
B) The structure is fixed to assure employees of consistency.
C) The compensation system is perceived as fair and equitable.
D) Objectives are well understood, and broadly accepted.
Q3) Contemporary strategic controls involve comparing actual performance to predetermined goals.
A)True
B)False
Q4) Explain why control systems are necessary for strategy implementation.
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Chapter 10: Creating Effective Organizational Designs
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Sample Questions
Q1) To enhance integration and control of related product market activities,the functional structure minimizes centralization.
A)True
B)False
Q2) Organizations are increasingly using teams for many reasons.The difference between a good team and an outstanding team has been found to be
A) the combined technical skills of the members.
B) similarities in the way team members solve problems.
C) the way team members treat each other.
D) similarities in the age and experience of team member.
Q3) What advantages does outsourcing not provide an organization?
A) accessing best in class goods and services
B) enabling rapid expansion with relatively low capital investment
C) focusing scarce resources on core competencies
D) improved buyer positioning
Q4) Global start-ups occur after a corporation has exhausted all other possibilities for domestic growth.
A)True
B)False
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Chapter 11: Strategic Leadership: Creating a Learning
Organization and an Ethical Organization
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) Research supports that there are many potential benefits of an ethical organization,including that there is a strong and consistent relationship between ethical performance and measures of financial performance.
A)True
B)False
Q2) CEOs who are ________ tend to have a wide circle of acquaintances as well as a knack for finding common ground and building rapport.
A) self-aware
B) self-regulators
C) motivated
D) socially skilled
Q3) Leaders who fail to institute proper systems and controls that facilitate ethical conduct share responsibility with those who conceive,execute,and knowingly benefit from corporate misdeeds.
A)True
B)False
Q4) What is the difference between individual ethics and organizational ethics?
Q5) What are the five key elements of a learning organization and why are they important?
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Chapter 12: Managing Innovation and Fostering Corporate
Entrepreneurship
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93 Verified Questions
93 Flashcards
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Sample Questions
Q1) Research indicates that leaders of innovative firms spend 50 percent more time on discovery activities than the leaders of less innovative firms.
A)True
B)False
Q2) The Kraft Heinz Company makes MiO Drops.This is an example of a high-tech source of innovation.
A)True
B)False
Q3) New technology is an important source of new ideas because it
A) is seen by the customer as being important.
B) provides the manpower that firms need to make new products and services.
C) automatically reduces organizational waste.
D) provides the raw material that firms use to make innovative products and services.
Q4) 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) reinforcing stakeholder commitment.
Page 14
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