Management Consulting
Pre-Test Questions
Course Introduction
Management Consulting explores the principles, methodologies, and practices involved in advising organizations to improve their performance and effectiveness. The course covers the consulting process from client engagement and problem diagnosis to solution development and implementation. Students learn how to apply analytical frameworks, conduct organizational assessments, and utilize data-driven decision-making tools. Emphasis is placed on communication skills, ethical considerations, and managing client relationships. Through case studies, group projects, and real-world scenarios, students gain practical experience in addressing complex business challenges and delivering actionable recommendations to clients.
Recommended Textbook
Strategic Management Concepts and Cases 1st Edition by Jeffrey H. Dyer
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14 Chapters
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Page 2
Chapter 1: What Is Business Strategy
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Sample Questions
Q1) The management of Winters Corp.,a small company,pursued an unexpected opportunity and gained huge profits over a period of 10 years.At the end of this period,Winters Corp.grew as a company and successfully established itself as a highly valued brand in the industry.This is an example of a(n)_____.
A) functional strategy
B) accidental strategy
C) emergent strategy
D) deliberate strategy
Answer: C
Q2) What is the next step in the strategic management process that a company should take after identifying prospective markets?
Answer: The next step in the strategic management process after identifying prospective markets is attempting to decide what unique value is to be offered in those markets.
Q3) A company's primary purpose that often specifies the business or businesses in which the firm intends to compete -or the customers it intends to serve-refers to its
Answer: mission
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3
Chapter 2: Analysis of the External Environment: Opportunities and Threats
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Sample Questions
Q1) GetYoung Inc.,a cosmetic company,recently launched a beauty bar soap that claims to soften the users' skin,giving it a natural glow,and also make them look up to 5 years younger.A lot of women eagerly tried out this soap and received positive results and thus encouraged their friends to try out the soap.GetYoung Inc.gained profits very fast through this word-of-mouth advertising.This scenario best illustrates _____.
A) backward integration
B) forward integration
C) barriers to entry
D) network effects
Answer: D
Q2) How do switching costs affect industry rivalry?
Answer: The lower the switching costs,the easier it is for competitors to poach customers,thereby increasing industry rivalry.
Q3) Which of the following statements is true about rivalry?
A) It is an expensive method that treats other companies amicably.
B) It helps increase losses for an organization to a large extent.
C) It is a force that is best avoided in an industry to increase profits.
D) It is an important driving force to increase profitability.
Answer: D
Page 4
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Chapter 3: Internal Analysis: Strengths, Weaknesses, and Competitive Advantage
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Sample Questions
Q1) State the difference between operating capabilities and dynamic capabilities.
Answer: Capabilities are processes that the firm has developed to coordinate human activity in order to achieve specific goals.Operating capabilities are procedures,processes,or routines for delivering value to customers,employees,suppliers,or investors.Dynamic capabilities are procedures,processes,and routines that continuously expand existing resources or improve operating capabilities.
Q2) A survey is conducted among the customers of a supermarket chain.This survey reveals that the majority of these customers prefer to buy Lia,a brand of soap,because they feel that the company Lia Products Inc.has created a product that is of worth to the customers.The reason for the customers' preference is because the company constantly delivers what it promises.In this scenario,the factor that has made the brand of soap named Lia popular among these customers can be best categorized as _____.
A) value
B) rarity
C) inimitability
D) prestige
Answer: A
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Page 5
Chapter 4: Cost Advantage
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Q1) Orange Superstore is largely customer centric and economical in its methods.The store sells the best quality products at prices that are lower than other stores.The store depends on the fact that its salespeople get better at completing their tasks over time.This method used by Orange Superstore is an example of _____.
A) cost limitation strategy
B) cost advantage strategy
C) proprietary knowledge strategy
D) sustained competitive advantage strategy
Q2) Define learning curve,experience curve,and scale curve.Compare them with each other.
Q3) Which is an important source of proprietary knowledge?
Q4) The relatively fixed costs such as the costs of plant and equipment,which do not increase with an increase in the number of units manufactured,are known as _____.
A) fixed cost of production
B) fixed cost of supply
C) fixed cost of demand
D) fixed cost of scale
Q5) Explain proprietary knowledge and its important sources.
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Chapter 5: Differentiation Advantage
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Q1) Tangerine Inc.differentiates its products by building a brand image,whereas Cloud Inc.does not rely on brand image to differentiate its products.Which of the following statements is likely to be true in this case?
A) Tangerine is likely to rely on product features to attract customers.
B) Tangerine is likely to use advertisements to differentiate its products.
C) Cloud is likely to use promotional tools to increase market share.
D) Cloud is unlikely to rely on reliability to boost sales.
Q2) Gear-up Inc.,an apparel brand,differentiates its products by manufacturing jeans that last longer than those of other brands.The fabric is durable and does not wear out even after years of regular use.This attracts customers despite Gear-up's high prices.Which of the following elements of product differentiation is Gear-up primarily providing?
A) Aesthetics
B) Quality
C) Convenience
D) Quantity
Q3) When products are differentiated by being associated with positive qualities in the minds of customers,they are considered _____.
Q4) _____ is grouping customers based on similar needs.
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Chapter 6: Corporate Strategy
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Q1) A dominant vertical business differs from a dominant business in that a dominant business:
A) earns 30 percent of its revenue from businesses located along the value chain of its main line of business.
B) earns 30 percent of its revenue from business lines across different value chains.
C) earns less than 70 percent of its revenue from its main line of business.
D) earns more than 95 percent of its revenue from its main line of business.
Q2) Amber Corp.,a jute manufacturing company,wants to diversify into the food industry.In order to do so,the board of directors decides to move some of its existing resources,expertise,and technology to set the base of the food unit.The market analysts at Amber predict that this unit has a high growth potential.Thus,rather than leaving the new food unit to grow on its own,the board decides to invest in it as it this will help increase the corporate value of the company.In this scenario,Amber Corp.is trying to create value by acting as a(n)_____.
A) adjacent market
B) internal capital market
C) external capital market
D) related-constrained market
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Chapter 7: Vertical Integration and Outsourcing
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Q1) In this context of the three Cs of vertical integration,which of the following scenarios accurately depicts capabilities?
A) BagMore Inc., a handbag company, decides to engage in backward integration and manufacture all of its products and accessories in the company house.
B) GoSpeed Corp., an automobile manufacturing company, evaluates itself by asking if it can perform the vertically integrated activity better than its rivals.
C) StyleRight LLC, an apparel company, manufactures eco-friendly, organic, and sustainable clothes.
D) HDC Inc., an electronics company, decides to effectively regulate its new technologies.
Q2) Explain the three Cs of vertical integration.
Q3) A supplier that is contracted to create and provide a customized input to a local firm is called a(n)_____.
A) acquirer
B) coordinator
C) subcontractor
D) advocate
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Chapter 8: Strategic Alliances
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Q1) John requires 500 shirts of a particular fabric and quality.He partners with Loumang Inc.,a fabric manufacturing company,to develop certain customized inputs.Which of the following is being exemplified in this scenario?
A) A licensing agreement
B) A supply agreement
C) A distribution agreement
D) A profit agreement
Q2) Victor Corp.,a high-end mobile manufacturer that targets business people,decides to increase its customer base.It forms a strategic alliance with Gray Inc.to produce new instruments designed to attract students.Gray helps design products that change how Victor is perceived by young customers.Which of the following is the primary objective of this strategic alliance?
A) To source inputs or activities that create more productivity
B) To source inputs or activities that influence the brand
C) To source inputs or activities that reduce the total costs
D) To source inputs or activities that increase productivity of existing products
Q3) Explain the different ways through which a firm can create value in an alliance.Support your answer with suitable examples.
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Chapter 9: International Strategy
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Q1) With respect to distance between a foreign and a domestic market,administrative distance is likely to be more when the new market:
A) uses the common law system used in the Anglo sphere.
B) has not been part of the colonizer/colony network.
C) uses the same currency as the domestic market.
D) does not belong to a different trade bloc.
Q2) In the context of modes of international market entry,which of the following statements is true of a joint venture?
A) It is a favored way to enter markets that are close to the home market.
B) It involves cultural barriers that increase the difficulty of operations.
C) It avoids sharing resources, risks, and rewards.
D) It offers the least amount of control of all the various modes of entry.
Q3) In the context of modes of international market entry,which of the following statements is true of licensing and franchising?
A) It offers the highest amount of control of all the various modes of entry.
B) It is easy to extract knowledge for use in other locations through this mode.
C) It can increase the cost of selling in a foreign market.
D) It involves the risk of a local firm in alliance to become a competitor.
Q4) _____ distance is usually measured as per capita gross domestic product.
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Chapter 10: Innovative Strategies That Change the Nature of Competition
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Q1) Groups of people who share similar needs and thus are likely to desire the same features in a product are called _____.
Q2) Define two general categories of innovations.
Q3) Explain the four stages of the product life cycle.
Q4) What is a business model? Briefly explain the revenue model.
Q5) Crimson Inc.initially introduced a new gadget to the niche market.Eventually,other organizations provided the same product at a lower price.Hence,Crimson had to reduce the price of the gadget to the market price.This is an example of a _____.
A) disintermediation strategy
B) low-end disruptive innovation
C) differentiation strategy
D) high-end disruptive innovation
Q6) A radical innovative strategy in which companies in the same industry find the innovation so destructive that they can no longer do business as usual is called a(n)_____.
Q7) What are low-end disruptive innovations? Explain with an example.
Q8) Explain mass customization with an example.
Q9) Creating new demand in an uncontested market space is called the _____. Page 12
Q10) _____ coined the term hypercompetition.
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Page 13
Chapter 11: Competitive Strategy
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Q1) A research institute plans to build a competitor response profile for a study.Which of the following is the first step to build such a profile?
A) Identifying the assumptions
B) Studying the strategic ideas of competitors
C) Creating a structural chart
D) Focusing on productivity
Q2) What are the principles that strengthen a company's ability to compete?
Q3) A simple game has two players; each player has two choices.Assume that the players make their moves at the same time and they only play the game once.Which of the following is exemplified in this case?
A) Linear change game
B) Infinitely repeated game
C) Consecutive shift game
D) Simultaneous move game
Q4) A _____ profile identifies characteristics of a competitor in order to assess how it might respond in the face of rival actions.
Q5) Briefly describe the game theory.
Q6) Write a note on strategic groups and mobility barriers.
Q7) Briefly describe the Nash equilibrium.
Page 14
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Chapter 12: Implementing Strategy
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Q1) Walker and Harris are senior research fellows at a global non-profit organization.They are working on a project that studies the growth trend of a multinational corporation,Garcia Inc.When Walker and Harris decide to consolidate their study findings,Walker is of the opinion that Garcia is in the 'change process' phase,while Harris believes that the company is in the 'refreeze' phase.Which of the following statements,if true,would strengthen Harris' belief?
A) Garcia Inc. publicly admits that the current situation is not working.
B) Garcia Inc. formalizes and institutionalizes its new growth strategies.
C) Garcia Inc. adopts a trial and error method to decide on the best growth strategy.
D) Garcia Inc. decides to adapt to its environment and learn new growth-inducing behaviors.
Q2) A software industry implements a new structural change in the corporate hierarchy.Employees are provided with a clear statement of desired outcomes and endpoints for organizational change.This is an example of _____.
A) generating urgency
B) building a guiding coalition
C) creating a response profile
D) creating a vision
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Page 15
Chapter 13: Corporate Governance and Ethics
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Q1) YCL Inc.operates a retail chain.The managers and employees of the company have been on strike for months due to their differences with its owners.As a result,the share price of the company has fallen to a historic low.UltraPlus Investments decides to purchase a majority of the shares of YCL,confident that it can manage the company better.The board of directors of YCL refuses to sell the shares of the company to UltraPlus Investments.As a result,UltraPlus tries to place its own people on the YCL's board of directors to change their decision.In this scenario,UltraPlus is involved in a(n)_____.
A) agency problem
B) proxy fight
C) employee buyout
D) friendly acquisition
Q2) Veltek Development Solutions was a company that existed in the nineteenth century.It was formed after obtaining a charter from the state legislature for the purpose of building a small bridge over a river.In this scenario,Veltek Development Solutions can be considered a _____.
A) cooperative
B) limited partnership
C) general partnership
D) corporation
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Page 16
Chapter 14: Strategy and Society
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Q1) Gama Inc.,a cell phone manufacturer,procures lithium batteries from Zipcharge Inc.These batteries are used in the smart phones manufactured by Gama.In the context of the value net model,Gama is most likely to be considered a _____.
A) supplier
B) competitor
C) principal
D) customer
Q2) Foodoid Inc.,a fast food restaurant,enters into a tie-up with SimplyBake Inc.,a bakery chain,to procure croissants,garlic loafs,and other essential food ingredients.In the context of the value net model,SimplyBake assumes the role of a(n)_____.
A) principal investor
B) competitor
C) complementor
D) franchisor
Q3) _____ refers to a social entrepreneur who creates something new through the combination of diverse and different elements.
Q4) Discuss the role of a social entrepreneur in the creation of shared value.
Q5) Discuss the four roles played by stakeholders in the value net.
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