Management and Organization Exam Review
Course Introduction
This course provides an in-depth exploration of the principles and practices that underpin effective management and organization in contemporary business environments. It examines foundational theories of management, organizational structures, leadership styles, decision-making processes, and strategies for motivating and coordinating teams. Students will develop an understanding of how organizations function, adapt to change, and achieve their goals while addressing challenges such as globalization, diversity, and ethical considerations. Through case studies, discussions, and practical exercises, participants will gain the skills necessary to analyze organizational issues and implement effective management solutions.
Recommended Textbook
Strategic Management Theory An Integrated Approach 11th Edition by Charles
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13 Chapters
953 Verified Questions
953 Flashcards
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Page 2
W. L. Hill
Chapter 1: Strategic Leadership: Managing the Strategy-Making Process for Competitive Analysis
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77 Verified Questions
77 Flashcards
Source URL: https://quizplus.com/quiz/62112
Sample Questions
Q1) SWOT analysis is implemented to fine-tune strategies.
A)True
B)False
Answer: True
Q2) refers to the investment that shareholders make in a company that cannot be recovered if the company fails and goes bankrupt.
A)Profitability
B)Shareholder value
C)Debt
D)Risk capital
E)Dividend payments
Answer: D
Q3) Well-constructed goals provide a means by which the performance of managers can be evaluated.
A)True
B)False
Answer: True
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Page 3
Chapter 2: External Analysis: The Identification of Opportunities and Threats
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75 Verified Questions
75 Flashcards
Source URL: https://quizplus.com/quiz/62111
Sample Questions
Q1) Rapid growth in demand enables companies to expand their revenues and profits without taking market share away from competitors.
A)True
B)False
Answer: True
Q2) A group of firms manufactures writing implements such as pens, pencils, and markers.This group should be referred to as a(n):
A)substitute.
B)market segment.
C)service provider.
D)regulator.
E)industry.
Answer: E
Q3) Interest rates have an impact on the sale of autos, appliances, and capital equipment, and thus represent a macroeconomic force.
A)True
B)False
Answer: True
Page 4
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Chapter 3: Internal Analysis: Distinctive Competencies,
Competitive Advantage, and Profitability
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82 Verified Questions
82 Flashcards
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Sample Questions
Q1) Competitive advantage is based on:
A)distinctive competencies.
B)the Icarus paradox.
C)higher cost structure.
D)prior strategic commitments.
E)barriers to change in a company.
Answer: A
Q2) Resources:
A)are only the tangible assets available to a company.
B)can be both tangible and intangible.
C)are harder for a company to copy than capabilities are.
D)do not include patents, copyrights, and trademarks.
E)are considered valuable only if they increase a company's costs.
Answer: B
Q3) The ability of established competitors to imitate the competitive advantage of a rival is not limited by factors such as existing strategic commitments and low absorptive capacity.
A)True
B)False
Answer: False
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Chapter 4: Building Competitive Advantage Through
Functional-Level Strategy
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75 Verified Questions
75 Flashcards
Source URL: https://quizplus.com/quiz/62109
Sample Questions
Q1) When Amber first started working at a car manufacturing plant assembling car doors, she was slower at the task than her co-workers.As time passed, her speed at assembling the doors increased and she even taught others how to perform the task more quickly.As a result of increased employee productivity, this particular plant experienced cost savings.These cost savings can be attributed to learning effects.
A)True
B)False
Q2) Self-managing teams:
A)are limited to only very large organizations.
B)require members to coordinate their own activities and make decisions.
C)typically increase the need for supervisors.
D)create a tall organizational structure.
E)show negligible increase in productivity and substantial decrease in product quality.
Q3) Mass customization describes the ability of companies to use flexible manufacturing technology to reconcile the two goals of low cost and differentiation through product customization.
A)True
B)False
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Chapter 5: Building Competitive Advantage Through Business-Level Strategy
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74 Verified Questions
74 Flashcards
Source URL: https://quizplus.com/quiz/62108
Sample Questions
Q1) A company that follows a low-cost strategy could reasonably be expected to reduce costs by:
A)broadening the business processes.
B)adopting lean production and flexible manufacturing technologies.
C)implementing first-in-first-out inventory control systems.
D)taking steps to increase customer chum.
E)abandoning economies of scale and learning effects.
Q2) Companies that follow a standardization strategy ignore the many different market segments in an industry and position their products to appeal to the average customer.
A)True
B)False
Q3) A disadvantage of pursuing a low-cost strategy is that:
A)it makes it difficult for fmns to customize their product offerings .
B)price wars make it hard to compete with differentiators.
C)it costs more than a differentiation strategy because of the necessity of high capital investments.
D)powerful buyers are a major threat.
E)it reduces customer retention.
Q4) Define the generic business-level strategies companies pursue.
Page 7
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Chapter 6: Business-Level Strategy and the Industry Environment
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) Development of a mass market is the stimulus for an industry to change from growth to embryonic.
A)True
B)False
Q2) A strategy aims at growing in a declining industry by picking up the market share of companies that are leaving the industry.
A)divestment
B)harvest
C)price signaling
D)leadership
E)capacity control
Q3) An embryonic industry is one that:
A)a number of small and medium sized companies.
B)is just beginning to develop.
C)has sufficiently developed so that early industry leaders have already been identified.
D)has initial government backing because of its importance to the general populace.
E)is characterized by intense rivalry among established companies.
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Page 8
Chapter 7: Strategy and Technology
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73 Verified Questions
73 Flashcards
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Sample Questions
Q1) Which of the following statements is true about new entrants in the context of a technological paradigm shift?
A)New entrant often face the risks of product cannibalization.
B)Pressures to continue the existing out-of-date business model hamstring new entrants.
C)New entrants do not need to worry about their established customer base.
D)It is difficult for new entrants to focus all their energies on the opportunities offered by the new disruptive technology.
E)New entrants are not constrained by lack of capital.
Q2) Network effects arise in an industry where:
A)the size of the network of complementary products is a primary determinant of demand for an industry's product.
B)a large network of companies in an industry use the same business model and strategies.
C)a company is able to adhere to the same technical standards across its network of outlets.
D)companies network together and lobby for establishing certain technical standards. E)companies that are not in favor of a technical standard network together.
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Page 9
Chapter 8: Strategy in the Global Environment
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64 Verified Questions
64 Flashcards
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Sample Questions
Q1) Differences in tastes and preferences:
A)increase pressures for cost reductions.
B)do not affect service-based firms.
C)increase pressures for local responsiveness.
D)reduce pressures from the host government.
E)significantly decrease R&D costs of a company.
Q2) Which of the following is an advantage of franchising?
A)It ensures tight control over quality.
B)It enables companies to engage in global strategic coordination.
C)It involves low development costs and risks.
D)It enables the company to collect all the profits made by the franchisees.
E)It frees companies from the task of monitoring and assisting operations at franchisees.
Q3) Companies should form strategic alliances with frrms that have a reputation for being opportunistic.
A)True
B)False
Q4) List and briefly describe each of the four basic global strategies.
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10
Chapter 9: Corporate-Level Strategy: Horizontal Integration,
Vertical Integration, and Strategic Outsourcing
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70 Verified Questions
70 Flashcards
Source URL: https://quizplus.com/quiz/62113
Sample Questions
Q1) Outsourcing occurs when a firm:
A)buys one of its rivals.
B)merges with one of its suppliers.
C)enters into a joint venture with a rival.
D)hires another firm to perform value creation activities.
E)enters into contracts with two suppliers simultaneously.
Q2) John's surfboard shop has a long-term relationship with two surfboard makers.John is usiog:
A)parallel sourciog.
B)cross-selliog.
C)product bundliog.
D)vertical iotegration.
E)horizontal iotegration.
Q3) Horizontal integration can help lower costs when it allows a company to reduce the duplication of resources.
A)True
B)False
Q4) What is the relationship between a company's corporate-level strategy and its business model?
11
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Chapter 10: Corporate-Level Strategy: Related and Unrelated
Diversification
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73 Verified Questions
73 Flashcards
Source URL: https://quizplus.com/quiz/62104
Sample Questions
Q1) Which of the following statements is false?
A)Joint ventures are preferable to acquisitions when the new business is related to the existing business.
B)Acquisitions are preferable to new ventures when speed is important.
C)Joint ventures are generally preferable to acquisitions when entry barriers are high.
D)Acquisitions can be both a reason for corporate decline and part of a turnaround strategy.
E)New ventures are preferable to acquisitions in the embryonic stage of the industry life cycle.
Q2) Free cash flow is defined as:
A)money in a company's bank account.
B)government funds given to a company for meeting Environmental Protection Agency (EPA) regulations.
C)additional funds donated by stockholders.
D)cash in excess of that required to fund investments in the company's industry and to meet any debt commitments.
E)cash borrowed by the company that requires no interest payments.
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Page 12
Chapter 11: Corporate Performance, Governance, and Business Ethics
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66 Verified Questions
66 Flashcards
Source URL: https://quizplus.com/quiz/62103
Sample Questions
Q1) There is a certain amount of performance ambiguity inherent in the relationship between a principal and agent.
A)True
B)False
Q2) Ethical dilemmas are situations where there is no agreement over exactly what the accepted principles of right and wrong are.
A)True
B)False
Q3) Which of the following is NOT a governance mechanism used to align the interests of managers and stockholders?
A)Self-dealing
B)The board of directors
C)Stock-based compensation schemes
D)Strategic control systems
E)Takeover constraints
Q4) All stakeholders have an exchange relationship with the company.
A)True
B)False
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Chapter 12: Implementing Strategy in Companies That
Compete in a Single Industry
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75 Verified Questions
75 Flashcards
Source URL: https://quizplus.com/quiz/62102
Sample Questions
Q1) Which of the following is not one of the advantages of a geographic structure?
A)Promotion of innovation and product development due to intensive cross-functional integration
B)Responsiveness to the needs of regional customers
C)Lower transportation costs
D)More coordination and control than a functional structure
E)Centralization of key activities and functions that allow leveraging skills across regions
Q2) Research finds that centralization of authority is never advantageous, not even in time of crisis.
A)True
B)False
Q3) Effective organizational design can allow a company to obtain a competitive advantage but it has no impact on profitability.
A)True
B)False
Q4) Describe what is meant by the terms restructuring and reengineering, and discuss when and why they would be used.
Q5) Identify and discuss the three building blocks of organizational structure.
Page 14
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Chapter 13: Implementing Strategy in Companies That
Compete Across Industries and Countries
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69 Verified Questions
69 Flashcards
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Sample Questions
Q1) Which of the following statements is tme about transfer pricing in the context of multidivisional organizational structure?
A)It can severely damage coordination and corporate culture.
B)It occurs when one division's products are priced higher than another division's products.
C)It often results in a uniform increase in profitability among all the divisions.
D)It refers to the changes in product prices that occur when certain functions from the divisions are centralized.
E)It helps corporate managers create the maximum profitability out of the multidivisional strategy.
Q2) In a finn with a Multidivisional structure, corporate managers oversee the actions of divisional managers.
A)True
B)False
Q3) A finn that is pursuing a globalization strategy will typically use a worldwide-area structure.
A)True
B)False
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