Management Policy Exam
Bank
Course Introduction
Management Policy explores the formulation, implementation, and evaluation of organizational strategies and policies. The course examines the decision-making processes at the top management level, considering both internal and external environments that influence an organizations direction and performance. Students analyze real-world case studies to understand strategic planning, competitive advantage, leadership roles, and the impact of corporate policies on stakeholders. Emphasis is placed on critical thinking, problem-solving, and the practical application of management theories to complex business challenges.
Recommended Textbook
Strategic Management Text and Cases 6th Edition by Gregory Dess
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12 Chapters
1213 Verified Questions
1213 Flashcards
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Page 2
Chapter 1: Strategic Management Creating Competitive Advantages
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101 Verified Questions
101 Flashcards
Source URL: https://quizplus.com/quiz/3021
Sample Questions
Q1) Managers should do more than focus on short-term financial performance. One concept that helps managers do this is stakeholder symbiosis. This means that
A) stakeholders are dependent on each other for their success.
B) stakeholders look out for their individual interests.
C) one can only gain at the expense of someone else.
D) all stakeholders want to maximize shareholder returns.
Answer: A
Q2) Effective vision statements include
A) all strategic directions of the organization.
B) a brief statement of the company's direction.
C) strategic posturing and future objectives.
D) financial objectives and projected figures.
Answer: B
Q3) The four key attributes of strategic management include the idea that strategy must
A) be directed toward overall organizational goals and objectives.
B) be focused only on long-term objectives.
C) be focused on only one specific area of an organization.
D) focus only on competitor strengths.
Answer: A
Page 3
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Chapter 2: Analyzing the External Environment of the Firm
Creating Competitive Advantages
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109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/3022
Sample Questions
Q1) In the SWOT framework, the Strengths and Weaknesses are external environmental factors to consider.
A)True
B)False
Answer: False
Q2) Classifying an industry into strategic groups involves judgment. If it is useful as an analytical tool, we must exercise caution in deciding what dimensions to use to map these firms.Dimensions include all of the following except A) breadth of product and geographic scope.
B) price and quality.
C) degree of vertical integration.
D) management team.
Answer: D
Q3) 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
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Chapter 3: Assessing the Internal Environment of the Firm
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109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/3023
Sample Questions
Q1) The balanced scorecard provides top managers with a ________ view of the business.
A) detailed and complex
B) simple and routine
C) fast but comprehensive
D) long-term financial
Answer: C
Q2) Intangible resources of a firm refer to its capacity to deploy tangible resources over time and leverage those resources effectively.
A)True
B)False
Answer: False
Q3) ________ are typically embedded in unique routines and practices that have evolved and accumulated over time such as effective work teams.
A) Tangible resources
B) Intangible resources
C) Reputational resources
D) Organizational capabilities
Answer: B
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Page 5
Chapter 4: Recognizing a Firm's Intellectual Assets Moving
beyond a Firm's Tangible Resources
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) Protecting company intellectual property can be difficult because employees become disgruntled and patents
A) are expensive.
B) cannot be protected.
C) expire.
D) roll over.
Q2) Companies that take hiring seriously must also take ________ seriously because having the right job candidates is important.
A) training
B) recruiting
C) development
D) profitability
Q3) ________ is the network of relationships that individuals have throughout the organization.
A) Human capital
B) Social capital
C) Intellectual capital
D) Tacit knowledge
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Chapter 5: Business-Level Strategy Creating and Sustaining Competitive Advantages
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105 Verified Questions
105 Flashcards
Source URL: https://quizplus.com/quiz/3025
Sample Questions
Q1) With experience, unit costs of production decline as ________ increases in most industries.
A) costs
B) volume
C) output
D) price
Q2) Atlas Door tightly controlled logistics so that it always shipped only fully complete orders to construction sites. In regard to the five forces model, which of the following is a reason this might give them competitive advantage?
A) It helps to reduce the threat of new entrants.
B) It created low entry barriers for new entrants.
C) It created a high threat of substitution.
D) It gave more power to buyers.
Q3) The market life cycle should be used for short-run forecasting because it provides a conceptual framework for understanding what changes typically occur over the life of an industry.
A)True
B)False
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Chapter 6: Corporate-Level Strategy Creating Value through Diversification
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102 Verified Questions
102 Flashcards
Source URL: https://quizplus.com/quiz/3026
Sample Questions
Q1) Transaction costs include all the following costs except A) monitoring costs.
B) negotiating costs.
C) search costs.
D) agency costs.
Q2) Antitakeover tactics include all the following except A) greenmail.
B) poison pills.
C) golden parachutes.
D)golden handcuffs.
Q3) The Coca-Cola acquisition of its bottlers failed because A) Coca-Cola had valuable competencies.
B) the bottling business required too much capital investment and time.
C) consumers consumed less because the distribution channel changed.
D) Coca-Cola spent less money on the distribution of concentrates and syrups.
Q4) Explain potential benefits that can be gained from vertical (or hierarchicalrelationships when corporations use unrelated diversification to increase value.
Page 8
Q5) Many acquisitions ultimately result in divestiture.
A)True
B)False
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Page 9
Chapter 7: International Strategy Creating Value in Global Markets
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) Industries in which proportionally more value is added in upstream activities are more likely to benefit from a global strategy than those in which more value is added downstream (closer to the customer).
A)True
B)False
Q2) A ________ is a business in which a multinational company owns 100 percent of the stock.
A) wholly owned subsidiary
B) strategic alliance
C) joint venture
D) franchising operation
Q3) The most expensive and risky entry mode is
A) wholly owned subsidiaries.
B) joint ventures.
C) franchising.
D) strategic alliances.
Q4) Trading blocs and free trade zones erode the rise of international expansion.
A)True
B)False
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Chapter 8: Entrepreneurial Strategy and Competitive Dynamics
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94 Verified Questions
94 Flashcards
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Sample Questions
Q1) New entry into markets, whether by start-ups or by incumbent firms, rarely threatens existing competitors.
A)True
B)False
Q2) Southwest Airlines began its no frills, no meals strategy in the late 1960s as a direct assault on the major carriers of the day. What type of competitive action does this represent?
A) A strategic action because it includes a refinement of an existing strategy.
B) A tactical action because it is a refinement of an existing strategy.
C) A strategic action because it was a breakthrough innovative offer.
D) A guerrilla offensive because it is fast and will surprise its rivals.
Q3) Mint entered the market in 2005 with comprehensive online money management systems that tells users what they are spending by aggregating financial information from online bank and creditcard accounts. Today it has over 20 million users and is helping them manage over 3 billion USD in assets. It used which new entry strategy in 2005?
A) imitative
B) adaptive
C) pioneering
D) differentiated
Page 11
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Chapter 9: Strategic Control and Corporate Governance
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) Which of the following is not a key control lever of behavioral control?
A) structure
B) culture
C) rewards
D) boundaries
Q2) Informational control is primarily concerned with whether the organization is doing the right things.
A)True
B)False
Q3) The traditional approach to strategic control is sequential. Which of the following is not one of the steps in the sequence?
A) Action plans are submitted by lower level managers.
B) Performance is measured against the predetermined goal.
C) Strategies are implemented.
D) Strategies are formulated and top management sets goals.
Q4) Central to agency theory is the relationship between two primary players, the principals (stockholders) and agents (management).
A)True
B)False
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Chapter 10: Creating Effective Organizational Designs
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86 Verified Questions
86 Flashcards
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Sample Questions
Q1) One of the factors that explained the effectiveness of ambidextrous organizational designs in the O'Reilly and Tushman study was that the reward systems emphasized traditional unit goals.
A)True
B)False
Q2) In large organizations, a strategy of diversification requires a need to reorganize around ________ or ________.
A) product lines; geographic markets
B) product lines; competition
C) competitor lines; geographic markets
D) distribution lines; competitor markets
Q3) What is a barrier-free organization? Discuss the importance for a barrier-free organization of creating permeable internal boundaries and developing effective relationships with external constituencies.
Q4) Firms that place too strong a priority on either adaptability or alignment can expect short term gains only.
A)True
B)False
Q5) What is organizational structure and why is it important?
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Chapter 11: Strategic Leadership Creating a Learning
Organization and an Ethical Organization
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104 Verified Questions
104 Flashcards
Source URL: https://quizplus.com/quiz/3031
Sample Questions
Q1) Leaders must draw on a range of personal skills as well as organizational mechanisms to move their organizations forward in the face of barriers to change.
A)True
B)False
Q2) As a manager, when faced with ethical crises you should
A) focuson issues most relevant to stockholders.
B) wait for the other party to make the first move.
C) take the initiative to address the problem.
D) cover up as much as possible.
Q3) According to research, effective leaders at all levels of organizations have high levels of Emotional Intelligence (EI). CEOs with high EI excel in all of the following except A) managing relationships.
B) influencing people.
C) forging alliances inside and outside the firm.
D) ability to discourage outside stakeholders.
Q4) Explain why the leadership activities of (1) setting a direction, (2) designing the organization, and (3) nurturing a culture dedicated to excellence and ethical behavior are independent.
Page 14
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Chapter 12: Managing Innovation and Fostering Corporate Entrepreneurship
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93 Verified Questions
93 Flashcards
Source URL: https://quizplus.com/quiz/3032
Sample Questions
Q1) If managers believe that their abilities can reduce the risks inherent in decision making to a much greater extent that they actually can, they might demonstrate ________ and trust only their own judgment rather than conduct sufficient analysis.
A) agency problems
B) reasoning by analogy
C) managerial conceit
D) escalation of commitment
Q2) What is the difference between product innovation and process innovation? How is each used?
Q3) One of the following is not a question that should be answered when evaluating the performance of corporate venturing efforts. Which is it?
A) Is the venture attracting external venture funding?
B) Is the venture considered to be a market success?
C) Does the venture add to the worth of the firm internally?
D) Does the value proposition offered by the venture insulate it from competitive attack?
Q4) What is real options analysis (ROA) as it applies to entrepreneurship and when is it appropriate to be used in this context?
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