Management Capstone Exam Bank
Course Introduction
Management Capstone is a culminating course designed to integrate the knowledge, skills, and concepts acquired throughout a management program. Through case studies, simulations, and real-world projects, students will apply strategic decision-making, problem-solving, and leadership abilities to complex business challenges. This course emphasizes teamwork, ethical considerations, and effective communication as students analyze organizational issues and develop comprehensive solutions. By synthesizing academic learning with practical application, the Management Capstone prepares students for professional roles in a dynamic and competitive business environment.
Recommended Textbook
Crafting and Executing Strategy Concepts and Cases 22nd Edition by Thompson Jr
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12 Chapters
1434 Verified Questions
1434 Flashcards
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Page 2
Chapter 1:
What Is Strategy and Why Is It Important?
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112 Verified Questions
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Sample Questions
Q1) A creative and distinctive strategy that sets a company apart from rivals and that gives it a sustainable competitive advantage
A)is a reliable indicator that the company has a socially responsible business model.
B)is achievable in emerging but not mature industries.
C)is a company's most reliable ticket to above-average profitability.
D)signals that the company has a bold, ambitious strategic intent that places the achievement of strategic objectives ahead of the achievement of financial objectives.
E)is the best indicator that the company's strategy and business model are well-matched and properly synchronized.
Answer: C
Q2) Why is a company's strategy typically a blend of proactive and reactive approaches?
Answer: A typical company strategy consists of both deliberate and/or planned initiatives that have proven themselves in the marketplace and newly launched initiatives aimed at further boosting performance, and emergent and/or reactive adjustments to unanticipated strategic moves by rivals, unexpected changes in customer preferences, and new market opportunities.
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Chapter 2: Charting a Companys Direction
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Sample Questions
Q1) The task of crafting a company's strategy is typically a job for the company's whole management team, not just a small group of senior executives. True or false? Explain and support your answer.
A)True
B)False
Answer: True
Q2) Why should long-run objectives take precedence over short-run objectives?
A)The focus is placed on improving performance in the long term.
B)Long-run objectives are necessary for achieving long-term performance and stand as a barrier to undue focus on short-term results.
C)Long-run objectives will satisfy shareholder expectations for progress.
D)Long-run objectives will force the company to deliver performance improvement in the current period.
E)Long-run objectives will keep the company in line with its balanced scorecard.
Answer: A
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4
Chapter 3: Evaluating a Companys External Environment
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137 Verified Questions
137 Flashcards
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Sample Questions
Q1) One of the steps of driving-forces analysis is to identify which
A)strategy changes a company may need to make to prepare for the impacts of the driving forces.
B)strategic group is the most powerful.
C)industry member is likely to become (or remain)the industry leader and why.
D)key success factors are most likely to help their company gain a competitive advantage.
E)of the five competitive forces will be the strongest driver of industry change.
Answer: A
Q2) Competitive intelligence can be gleaned from
A)company press releases, company websites, management presentations, annual reports, and 10-K filings.
B)SWOT analysis, PESTLE analysis, KSF analysis, and driving forces analysis.
C)strategic group maps, Value Net analysis, and five force analysis.
D)financial ratio analysis, KSF analysis, driving forces analysis, and five forces analysis.
E)KSF analysis, Value Net analysis, and driving forces analysis.
Answer: A
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Page 5
Chapter 4: Evaluating a Companys Resources, Capabilities, and Competitiveness
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127 Verified Questions
127 Flashcards
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Sample Questions
Q1) A company requires a dynamically evolving portfolio of resources and capabilities to
A)assist the strategic planning team in overall direction.
B)sustain complex manufacturing systems as a strategic recall.
C)sustain its competitiveness and help drive improvements in its performance.
D)sustain benefits of high market share as an interest in growth strategies.
E)transform knowledge into a management style supporting competition in a globally diverse world.
Q2) SWOT analysis is a simple but powerful tool for
A)gauging whether a company has a cost-competitive value chain.
B)sizing up a company's resources and capabilities, strengths and deficiencies, its market opportunities, and the external threats to its future well-being.
C)evaluating whether a company is in the most appropriate strategic group.
D)determining a company's competitive strength vis-à-vis close rivals.
E)identifying the market segments in which a company is strongly positioned and weakly positioned.
Q3) Explain how SunPower used benchmarking to improve its competitive position in the U.S. solar power industry.
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Page 6
Chapter 5: The Five Generic Competitive Strategies
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119 Flashcards
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Sample Questions
Q1) How can a capital-intensive company achieve a cost advantage by revamping its value chain?
A)downsizing a direct sales force and utilizing distributors and dealers exclusively
B)eliminating sales operations at the company's website
C)via higher rates of capacity utilization to allow depreciation and other fixed costs to be spread over a larger unit volume, thereby lowering fixed costs per unit
D)centralizing facilities and outsourcing shipping and handling activities
E)expanding operations by eliminating low value-added or unnecessary work steps and activities
Q2) The marketing emphasis of a company pursuing a focused low-cost provider strategy usually is to
A)tout the company's lower prices.
B)tout the lack of frills and extras.
C)out-advertise rivals and make frequent use of discount coupons.
D)communicate the attractive features of a budget-priced product offering that fits niche members' expectations.
E)communicate the product's ability to serve the customer's every need.
Q3) What are the keys to sustaining a focused low-cost strategy?
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Chapter 6: Strengthening a Companys Competitive Position
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Sample Questions
Q1) Bonobos's Guideshop store concept allows men to have a personalized shopping experience, where they can try on clothing in any size or color, and then have it delivered the next day to their home or office. This fashion retail concept is a good example of
A)an offensive strategy to leapfrog competitors by being the first adopter of next-generation technologies or being first to market with next-generation products.
B)an offensive strategy to offer an equally good or better product at a lower price.
C)an offensive strategy to seek uncharted waters and compete in blue oceans.
D)a defensive strategy to minimize the competitive advantages of rivals.
E)a defensive strategy to capture occupied territory by maneuvering around rivals.
Q2) Strategic offensives should, as a general rule, be grounded in a company's strategic assets and employ a company's strengths to attack rivals. Define and discuss the term strategic assets and its significance in gaining a competitive advantage.
Q3) What are the strategic disadvantages of a forward vertical integration strategy?
Q4) What are the strategic disadvantages of a backward vertical integration strategy?
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Page 8
Chapter 7: Strategies for Competing in International Markets
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132 Flashcards
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Sample Questions
Q1) Briefly identify the special features of competing in foreign markets.
Q2) Dispersing the performance of value chain activities to many different countries rather than concentrating them in a few country locations tends to be advantageous in all of the following situations, except A)when high transportation costs make it expensive to operate from central locations. B)whenever buyer-related activities are best performed in locations close to buyers.
C)if diseconomies of large size exist, thereby making it more economical to perform an activity on a smaller scale in several different locations.
D)when it is desirable to hedge against (1)the risks of fluctuating exchange rates, (2)supply interruptions, or (3)adverse political developments.
E)if resources retain their foreign contexts so there is competitive advantage over a broader domain.
Q3) Imagine that you are the manager of an aspiring multinational social media company. Identify and briefly explain two ways that your company could expand outside your domestic market to improve overall competitiveness.
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Chapter 8: Corporate Strategy
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122 Flashcards
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Sample Questions
Q1) The one factor that company executives need not worry about when their company is managing many diverse, unrelated firms is to
A)stay abreast of what's happening in each industry and subsidiary.
B)pick business-unit heads having the requisite combination of managerial skills and know-how to motivate people.
C)understand the true value of strategic investment proposals by business-unit managers.
D)know what to do if a business unit stumbles.
E)"manage by the numbers"-that is, keep a close track on the financial and operating results of each subsidiary.
Q2) Under what circumstances might a diversified firm choose to divest one or more of its businesses?
Q3) Unlikely candidates for divestiture in a corporate restructuring effort are
A)business units that lack strategic fit with the businesses to be retained
B)weak performers
C)businesses in unattractive industries
D)businesses that are cash hogs or that lack other types of resource fit
E)businesses compatible with the company's revised diversification strategy
Q4) Discuss the pros and cons of a strategy of unrelated diversification.
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Chapter 9: Ethics, Corporate Social Responsibility,
Environmental Sustainability, and Strategy
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Sample Questions
Q1) The "triple bottom line" refers to what three performance metrics a company should simultaneously succeed in?
A)economic, social, and environmental
B)pay, power, and performance
C)planning, execution, and results
D)legal, social, and economical
E)legal, social, and environmental
Q2) The school of ethical universalism holds that
A)concepts of right and wrong are not absolute and leave room for deviation from country to country or circumstance to circumstance.
B)concepts of right and wrong are universal within countries but not across countries and cultures.
C)concepts of right and wrong are governed by the Global Code of Ethical and Social Morality.
D)the most fundamental conceptions of right and wrong are universal and apply to members of all societies, all companies, and all businesspeople.
E)there are multiple sets of standards concerning what is ethically right or wrong that are universally applicable to citizens of a country.
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Chapter 10: Building an Organization Capable of Good Strategy Execution
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Sample Questions
Q1) Practices that the most successful companies like Alphabet, Boston Consulting Group, Edward Jones, Deloitte, Facebook, Genentech, Intuit, and Salesforce.com use to hire the best people they can find do NOT include
A)weeding out the 20 percent lowest-performing employees each year.
B)coaching average performers to improve their skills and capabilities.
C)striving to retain talented, high-performing employees via promotions, salary increases, and other perks.
D)rotating people through jobs that span functional and geographic boundaries.
E)careful screening and evaluation of job applicants.
Q2) A simple organizational structure is also known as a ________ structure.
A)line-and-staff
B)functional
C)matrix
D)multidivisional
E)three-dimensional
Q3) Identify and discuss the basic tenets, the chief advantages, and the chief disadvantages of centralized organizational structures.
Q4) What business case could you make to Costco to empower its employees?
Page 12
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Chapter 11: Managing Internal Operations
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Sample Questions
Q1) Why would Belinda, owner of GC Micro, a $70 million company that manufactures customized IT equipment and software for Fortune 1000 companies and defense contractors, decide to invest in a total quality management (TQM)program?
A)because a TQM program deals exclusively with procedures to achieve defect-free manufacturing and assembly
B)because a TQM program nearly always contributes more to the achievement of operating excellence than either business process reengineering or Six Sigma quality control techniques
C)because a TQM program entails creating a corporate culture bent on continuously improving the performance of every task and every value chain activity
D)because TQM programs are considerably more effective in improving manufacturing and assembly activities than they are in improving such value chain activities as R&D, human resources management, supply chain management, information technology, sales, and marketing and finance
E)because TQM programs are generally considered the best tool for reengineering strategy-critical business processes
Q2) How has Wegmans created a strategy-supportive reward structure?
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Page 13
Chapter 12: Corporate Culture and Leadership
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) A healthy company culture may be identified as
A)insular and inwardly-focused.
B)change-resistant.
C)unethical and greed-driven.
D)politicized.
E)hyper-adaptive.
Q2) Once values and ethical standards have been formally adopted, a company must A)require every employee to memorize the company's formal statement of core values and code of ethics.
B)make it unequivocally clear that the company's core values and ethical standards are strictly enforced cultural norms.
C)rely only on word-of-mouth indoctrination and company tradition to instill values and ethical conduct.
D)grant compensation increases and promotions only to those managers who are willing to act as evangelists for the company's core values and ethical standards.
E)hold periodic ceremonies to vilify employees that do not live up to the company's core values or who are found guilty of violating the company's code of ethics.
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