Management Capstone Exam Questions
Course Introduction
The Management Capstone course serves as the culminating experience for students studying management, integrating knowledge and skills acquired throughout their program. Through real-world projects, case studies, and simulations, students apply strategic thinking, problem-solving, and leadership abilities to complex business challenges. The course emphasizes the development of decision-making skills, ethical considerations, and effective communication, preparing students to transition seamlessly into professional management roles. Collaborative teamwork and practical application are central, enabling students to synthesize diverse management concepts in a comprehensive, hands-on format.
Recommended Textbook
Strategic Management and Competitive Advantage Concepts and Cases 5th Edition by Jay
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B.
Chapter 1: What Is Strategy and the Strategic Management Process
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100 Verified Questions
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Sample Questions
Q1) Firms that generate less economic value than their rivals experience a competitive A) advantage.
B) parity.
C) disadvantage.
D) perceived benefit.
Answer: C
Q2) Actions firms take to gain competitive advantages in a single market or industry are known as
A) business level strategies.
B) corporate level strategies.
C) diversification strategies.
D) strategy implementation.
Answer: A
Q3) Applying accounting measures of competitive advantage for firms that are headquartered in different has become less challenging today with the globalization of business.
A)True
B)False
Answer: False
Page 3
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Chapter 2: Evaluating a Firms External Environment
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Sample Questions
Q1) ________ are advantages that come to firms that make important strategic and technological decisions early in the development of an industry.
A) Visionary advantages
B) First-mover advantages
C) Comparative advantages
D) Missionary advantages
Answer: B
Q2) In general, it is rarely the case that all five forces in the five forces framework will be equally threatening at the same time.
A)True
B)False
Answer: True
Q3) Product innovation is an effort to refine and improve a firm's current processes.
A)True
B)False
Answer: False
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Chapter 3: Evaluating a Firms Internal Capabilities
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Sample Questions
Q1) In general, as long as the number of firms that possess a particular valuable resource or capability is less than the number of firms needed to generate perfect competition dynamics in an industry, that resource or capability can be considered ________ and a potential source of competitive advantage.
A) valuable
B) rare
C) inimitable
D) un-substitutable
Answer: B
Q2) If there is a conflict between the resources a firm controls and that firm's organization, ________ should be changed.
A) the resources
B) both
C) nothing
D) the organization
Answer: D
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Chapter 4: Cost Leadership
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Sample Questions
Q1) Learning-curve-cost advantages are
A) restricted only to manufacturing firms.
B) restricted only to firms in services industries.
C) restricted only to firms in extraction industries.
D) not restricted to manufacturing.
Q2) As the volume of production in a firm increases, the average cost per unit decreases until some optimal volume of production is reached, after which the average costs per unit of production begin to rise because of diseconomies of scale.
A)True
B)False
Q3) ________ are any supplies used by a firm in conducting its business activities.
A) Productive assets
B) Productive inputs
C) Productive outputs
D) Productive inventory
Q4) In general, economies of scale and diseconomies of scale are relatively easy-to-duplicate bases of cost leadership.
A)True
B)False
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Chapter 5: Product Differentiation
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Sample Questions
Q1) Which of the following bases of product differentiation attempts to create the perception that a firm's products or services are unusually valuable by focusing directly on the attributes of the products or services a firm sells?
A) Product complexity
B) Product customization
C) Consumer marketing
D) Reputation
Q2) In the bicycle industry, the feel of high-end bicycles when they are ridden is important. As a serious rider becomes accustomed to a particular bicycle, it is very difficult for that rider to switch to an alternative supplier. This is an example of product differentiation through which of the following?
A) linkages between functions
B) product customization
C) location
D) product complexity
Q3) Identify the two primary forms that the substitutes for bases of product differentiation can take.
Q4) What is the relationship between product differentiation and managerial creativity?
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Chapter 6: Vertical Integration
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Sample Questions
Q1) The use of budgets in a vertically integrated U-form organization can lead functional managers to overemphasize short-term behavior that is easy to measure and underemphasize longer-term behavior that is more difficult to measure.
A)True
B)False
Q2) When Apple, Inc. opened retail stores to sell its computers and iPods, this was an example of
A) forward vertical integration.
B) backward vertical integration.
C) forward horizontal integration.
D) backward horizontal integration.
Q3) Firms should avoid vertically integrating in those businesses where they possess valuable, rare, and costly-to-imitate resources and capabilities.
A)True
B)False
Q4) Budgets are an important control tool and they contribute to only positive outcomes.
A)True
B)False
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Chapter 7: Corporate Diversification
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Sample Questions
Q1) If no other firm in the computer industry were using a diversification strategy similar to Peach Computers', this diversification strategy could be said to be
A) rare and costly to duplicate.
B) rare and less costly to duplicate.
C) common but costly to duplicate.
D) common and less costly to duplicate.
Q2) The analysis of firms pursuing a strategy of ________ is logically equivalent to the analysis of business-level strategies.
A) unrelated diversification
B) related-linked diversification
C) related-constrained diversification
D) limited corporate diversification
Q3) ________ are complex sets of resources and capabilities that link different businesses in a diversified firm through managerial and technical know-how, experience and wisdom.
A) Managerial competencies
B) Core competencies
C) Competitive advantages
D) Core advantages
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Chapter 8: Organizing to Implement Corporate
Diversification
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Sample Questions
Q1) Each division in an M-form organization typically adopts a matrix structure and the division general manager takes on the role of senior project executive.
A)True
B)False
Q2) ________ is an economic measure of divisional performance.
A) Return on assets
B) Return on a division's sales
C) Economic value added
D) A division's growth rate
Q3) To the extent that a firm exploits real economies of scope in implementing a diversification strategy, it will be able to unambiguously evaluate the performance of individual divisions in that firm.
A)True
B)False
Q4) Managerial risk aversion is not as important in diversified firms where risk is distributed.
A)True
B)False
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Chapter 9: Strategic Alliances
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Sample Questions
Q1) Strategic alliances are particularly valuable in facilitating market entry and exit when the value of market entry or exit is
A) high.
B) low.
C) moderate.
D) uncertain.
Q2) Define a strategic alliance and identify and differentiate between three broad categories of strategic alliances.
Q3) Explicit collusion exists when firms directly communicate with each other to coordinate their levels of production or their prices and is legal in most countries.
A)True
B)False
Q4) Alliances to facilitate entry into new industries are only valuable when the skills needed in these industries are complex and difficult to learn.
A)True
B)False
Q5) Discuss when strategic alliances may be costly to directly duplicate.
Q6) What is the connection between strategic alliances and real options?
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Chapter 10: Mergers and Acquisitions
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Sample Questions
Q1) In an initial public offering, a firm (typically working with an investment banker) sells its equity to the public at large.
A)True
B)False
Q2) The market for corporate control is the market that is created when multiple firms actively seek to acquire one or several firms.
A)True
B)False
Q3) One study that reviewed 40 empirical merger and acquisition studies in the finance literature concluded that acquisitions, on average, increased the market value of bidding firms by about 25 percent and left the market value of the target firms unchanged.
A)True B)False
Q4) If there are five bidders (each of which has a current market value of $50,000 ) interested in a target firm that has no strategic relatedness with any of the bidding firms and has a current market value of $25,000, identify the economic profits that will be earned by both the bidding firm's equity holders and the target firm's equity holders and discuss this case.
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Chapter 11: International Strategies
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Sample Questions
Q1) The ability to learn from operations can be helped if managers perceive that there is too much to be learned.
A)True
B)False
Q2) Firms that attempt to optimize both local responsiveness and international integration will choose a ________ organizational structure.
A) centralized hub
B) transnational
C) coordinated federation
D) decentralized federation
Q3) One of the most compelling reasons for firms to begin operations outside their domestic markets is to refine their current core competencies and to develop new core competencies.
A)True
B)False
Q4) Unlearning requires a firm to modify or abandon traditional ways of engaging in business.
A)True
B)False
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