Corporate Strategy Practice Exam
Course Introduction
Corporate Strategy examines the overarching plans and actions that organizations deploy to achieve long-term objectives and gain competitive advantage in their industries. The course explores the formulation and implementation of strategies at the corporate level, including diversification, mergers and acquisitions, vertical integration, and international expansion. Students learn to analyze industry dynamics, evaluate corporate portfolios, and make strategic decisions that enhance firm value. Through case studies and practical frameworks, the course emphasizes aligning resources, capabilities, and organizational structure with the strategic vision to ensure sustainable growth and success.
Recommended Textbook
Strategic Management Text and Cases 9th Edition by Gregory Dess
Available Study Resources on Quizplus
12 Chapters
1223 Verified Questions
1223 Flashcards
Source URL: https://quizplus.com/study-set/1502
Page 2
Chapter 1: Strategic Management: Creating Competitive Advantages
Available Study Resources on Quizplus for this Chatper
106 Verified Questions
106 Flashcards
Source URL: https://quizplus.com/quiz/29766
Sample Questions
Q1) According to the text,the triple bottom line approach to corporate accounting includes which three components?
A)financial,environmental,and customer
B)financial,organizational,and customer
C)financial,environmental,and social
D)financial,organizational,and psychological
Answer: C
Q2) Procter and Gamble has perfected a technique for compacting cleaning powder into a liquid concentration.Consumers,retailers,shipping and wholesalers,and environmentalists all have benefited from the resulting change in consumer shopping habits and the revolution in industry supply-chain economics.According to the text,this is an example of
A)zero-sum relationship among stakeholders.
B)stakeholder symbiosis.
C)rewarding stakeholders.
D)emphasizing financial returns.
Answer: B
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Analyzing the External Environment of the Firm:
Creating Competitive Advantages
Available Study Resources on Quizplus for this Chatper
114 Verified Questions
114 Flashcards
Source URL: https://quizplus.com/quiz/29767
Sample Questions
Q1) Scenario analysis is a superficial approach to forecasting that seeks to explore possible developments that many only be connected to the past.
A)True
B)False
Answer: False
Q2) Steve Jobs,former chairman of Apple,demonstrated that ________ also are important in forecasting.
A)character and ability
B)intuition and judgment
C)training and experience
D)imagination and training
Answer: B
Q3) Which of the following would be an entry barrier?
A)easy access to raw materials
B)low switching costs
C)large economies of scale
D)low capital requirements
Answer: C
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Assessing the Internal Environment of the Firm
Available Study Resources on Quizplus for this Chatper
109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/29768
Sample Questions
Q1) A primary benefit of the balanced scorecard is that it complements financial indicators with operational measures of customer satisfaction,internal processes,and the innovation and improvement activities of the organization.
A)True
B)False
Answer: True
Q2) Historical comparisons provide information to managers about changes in the competitive position of a firm.Historical comparisons often are misleading
A)if the overall strategy of the firm is the same.
B)if the firm shows constant growth.
C)in periods of recession or economic boom.
D)if the firm's stock is publicly traded.
Answer: C
Q3) Capabilities that exhibit causal ambiguity are difficult to imitate.
A)True
B)False
Answer: True
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Recognizing a Firms Intellectual Assets: Moving
Beyond a Firms Tangible Resources
Available Study Resources on Quizplus for this Chatper
112 Verified Questions
112 Flashcards
Source URL: https://quizplus.com/quiz/29769
Sample Questions
Q1) 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 emails 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.
Q2) Social network analysis can be used to help identify groups or clusters of individuals that comprise the network,individuals who link the clusters,and other network members. A)True
B)False
Q3) A hiring agent offers a scientist approximately the same salary,facilities,equipment,and shared laboratory with 10 highly skilled and enthusiastic scientists.Part of the job is to collaborate with these peers and jointly develop promising drug compounds.This structure will create greater firm loyalty than one in which the hiring agent offers only monetary compensation.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Business-Level Strategy: Creating and Sustaining Competitive Advantages
Available Study Resources on Quizplus for this Chatper
105 Verified Questions
105 Flashcards
Source URL: https://quizplus.com/quiz/29770
Sample Questions
Q1) Primark,a fashion retailer,has found a way to keep its cost structure lower than its rivals by leveraging streamlined logistics,a low marketing budget,and negotiating bargain prices from its suppliers.They are using a(n)________ strategy.
A)differentiation
B)overall cost leadership
C)focus
D)broad differentiation
Q2) A firm can achieve differentiation through all the following means except A)improving brand image.
B)offering lower prices to frequent customers.
C)better customer service.
D)adding additional product features.
Q3) An overall low-cost position protects a firm against rivalry from competitors because ________ allow a firm to earn returns even if its competitors eroded their profits through intense rivalry.
A)higher costs
B)higher prices
C)lower costs
D)lower prices
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Corporate-Level Strategy: Creating Value Through Diversification
Available Study Resources on Quizplus for this Chatper
102 Verified Questions
102 Flashcards
Source URL: https://quizplus.com/quiz/29771
Sample Questions
Q1) ________ is when a firm tries to find and acquire either poorly performing firms with unrealized potential or firms in industries on the threshold of significant,positive change,thereby creating value within business units.
A)Parenting
B)Leveraging core competencies
C)Restructuring
D)Sharing activities
Q2) Polaris,a manufacturer of snowmobiles,motorcycles,watercraft,and off-road vehicles,shares manufacturing operations across its businesses.It also has a corporate research and development facility and staff departments that support all the Polaris operating divisions.This is an example of creating value by using A)related diversification to acquire market value by leveraging core competencies.
B)related diversification to acquire economies of scope by sharing.
C)unrelated diversification to acquire financial synergies through portfolio management.
D)related diversification to acquire parenting,restructuring,and financial synergies through corporate restructuring and parenting.
To view all questions and flashcards with answers, click on the resource link above.
Page 8
Chapter 7: International Strategy: Creating Value in Global Markets
Available Study Resources on Quizplus for this Chatper
107 Verified Questions
107 Flashcards
Source URL: https://quizplus.com/quiz/29772
Sample Questions
Q1) Which of the following is not a motivation for a company to pursue international expansion?
A)It wishes to increase the size of the potential markets for its products and services.
B)It wishes to take advantage of arbitrage opportunities to increase profit.
C)It wishes to optimize value-chain activities to enhance performance,reduce costs,and reduce risk.
D)It wishes to increase foreign market penetration by developing products for the home market.
Q2) The creation of a third-party legal entity is required for___________,whereas for ________ it is not.
A)licensing agreements;joint ventures
B)strategic alliances;joint ventures
C)joint ventures;strategic alliances
D)franchising agreements;strategic alliances
Q3) Shared Spanish colonialism is one reason that explains regionalism tendencies in A)Asia.
B)South America.
C)the United States.
D)Africa.
Page 9
To view all questions and flashcards with answers, click on the resource link above.
Chapter 8: Entrepreneurial Strategy and Competitive Dynamics
Available Study Resources on Quizplus for this Chatper
94 Verified Questions
94 Flashcards
Source URL: https://quizplus.com/quiz/29773
Sample Questions
Q1) New ventures may find it difficult to use differentiation strategies successfully because they lack ________ and ________.
A)sufficient funding;superior innovation
B)competitors;superior technology
C)sufficient funding;qualified entrepreneurs
D)innovative ideas;potential customers
Q2) Which of the following terms is used to refer to opportunities that are practical and physically possible?
A)durable
B)valuable
C)sustainable
D)achievable
Q3) When any two firms have both a high degree of market commonality and highly similar resources,a ________ threat is present.
A)weaker competitive
B)successful marketing
C)stronger competitive
D)stronger marketing
Q4) Explain what a pioneering new entry means and when it is appropriate to use it.
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Strategic Control and Corporate Governance
Available Study Resources on Quizplus for this Chatper
91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/29774
Sample Questions
Q1) Discuss several actions that can have a positive influence on board of director dynamics as the board works to both oversee and advise management.
Q2) Chesapeake Energy set a goal to improve workplace safety.To reinforce this,one year it gave out over 8 million USD in safety bonuses to over 6000 employees for following safe work practices.This served to create A)happy employees because they got more free time.
B)an effective reward and incentive program because it reinforced commitment to goals.
C)a new mission statement for the company.
D)an effective incentive program because employees worked harder.
Q3) For firms competing in highly unstable and turbulent industries,traditional strategic controls are most appropriate.
A)True
B)False
Q4) The primary participants in corporate governance,according to Monks and Minow,are the shareholders,board of directors,and employees.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
11
Chapter 10: Creating Effective Organizational Designs
Available Study Resources on Quizplus for this Chatper
86 Verified Questions
86 Flashcards
Source URL: https://quizplus.com/quiz/29775
Sample Questions
Q1) Communication and information technologies can plan an important role in bridging gaps and breaking down barriers between organizations.Firms can leverage ________ and ________ to facilitate automated communications and coordinated actions with suppliers,distributers,and other firm partners.
A)email;social media.
B)telephone systems;outsourced systems
C)point-of-sale inventory systems;RFID technology
D)cloud systems;banking.
Q2) Discuss the three major contingencies that influence the chosen organizational structure as a firm expands into foreign markets.
Q3) Firms that place too strong a priority on either adaptability or alignment can expect short term gains only.
A)True
B)False
Q4) What is organizational structure and why is it important?
Q5) Discuss the advantages and disadvantages of a simple organizational structure.
Q6) Explain why firms that achieve both adaptability and alignment are considered ambidextrous organizations.
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Strategic Leadership: Creating a Learning
Organization and an Ethical Organization
Available Study Resources on Quizplus for this Chatper
104 Verified Questions
104 Flashcards
Source URL: https://quizplus.com/quiz/29776
Sample Questions
Q1) Which of the following statements about leadership is false?
A)Leadership is focused on the creation and implementation of a creative vision.
B)Leadership is the process of transforming organizations from what they are to what the leader would have them become.
C)Leaders work to build a status quo and seek control mechanisms to maintain it.
D)Effective implementation of strategy is essential for successful leadership.
Q2) The chance of ethical crises occurring is enhanced if
A)the leader defines the corporate culture.
B)the organization has a weak ethical culture.
C)the shareholders have no confidence in the CEO.
D)employees follow the direction of the leader.
Q3) Which of the following is an important characteristic of a leader?
A)strives to maintain the status quo
B)goal-oriented
C)reactive
D)focused on past performance
Q4) Codes of conduct help employees from diverse backgrounds to work more effectively across cultural backgrounds.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Managing Innovation and Fostering Corporate
Entrepreneurship
Available Study Resources on Quizplus for this Chatper
93 Verified Questions
93 Flashcards
Source URL: https://quizplus.com/quiz/29777
Sample Questions
Q1) According to researchers from Drexel University and Rutgers University as presented in the Journal of Management,in industries that rely heavily on intellectual capital,such as technology,life sciences,or the arts,the loss of talented employees may have an unexpected benefit for the organization.While turnover of star scientists did disrupt innovation related to existing lines of research in the companies,it also increased the rate of innovation in previously unexplored areas.Companies adapt to the loss of talent by exploring products,brands,and methods they may not have otherwise considered.Which of the following statements is not a key takeaway from this research?
A)The loss of talented employees disrupts innovation related to established products.
B)The loss of talented employees allows fresh perspectives and ideas to emerge.
C)Companies adapt to star turnover by innovating in formerly unexplored areas.
D)Employee turnover broadly hurts an organization.
Q2) Business risk taking refers to the risk associated with entering untested markets or committing to unproven technologies.
A)True
B)False
Q3) Explain why the seeds versus weeds dilemma is important.
To view all questions and flashcards with answers, click on the resource link above.
Page 14