Organizational Management Exam
Answer Key
Course Introduction
Organizational Management explores the fundamental principles, practices, and challenges involved in effectively leading and managing modern organizations. The course covers essential topics such as organizational structure, culture, leadership styles, decision-making processes, motivation, team dynamics, communication, change management, and strategic planning. Students will gain an understanding of how managers coordinate resources, foster innovation, and resolve conflicts to achieve organizational goals. Through case studies and practical examples, the course prepares students to analyze real-world management issues and develop strategies for improving organizational performance in a rapidly changing global environment.
Recommended Textbook Concepts in Strategic Management and Business Policy 15th Edition by Thomas L. Wheelen
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Chapter 1: Basic Concepts in Strategic Management
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Sample Questions
Q1) A strategy maximizes competitive advantage and minimizes competitive disadvantage.
A)True
B)False
Answer: True
Q2) The triple bottom line refers to which of the following?
A) water, air, and oil
B) footprints, finance, and environment
C) physical environment, traditional profit/loss, and air
D) traditional profit/loss, social responsibility, and environmental responsibility
E) social responsibility, people, and ethics
Answer: D
Q3) Define globalization and identify the role of strategic management in globalization.
Answer: Globalization is the internationalization of markets and corporations.It has changed the way that modern corporations do business.As more industries become global,strategic management is becoming an increasingly important way to keep track of international developments and position the company for long-term competitive advantage.
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Chapter 2: Corporate Governance
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Sample Questions
Q1) What are the responsibilities of top management?
Answer: Top management responsibilities involve getting things accomplished through and with others to meet the corporate objectives.Top management's job is multidimensional and oriented toward the welfare of the total organization.Specific top management tasks vary from firm-to-firm and developed from an analysis of the mission,objectives,strategies,and key activities of the corporation.Tasks are typically divided among the members of the top management team. The CEO,with the support of the rest of the top management team,must successfully handle two primary responsibilities crucial to the effective strategic management of the corporation: (1) provide executive leadership and a strategic vision,and (2) manage the strategic planning process.
Q2) Those directors who fail to act with due care and allow the corporation to be harmed may be held personally liable.
A)True
B)False
Answer: True
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Chapter 3: Social Responsibility and Ethics in Strategic Management
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Sample Questions
Q1) Of the six values measured by the Allport-Vernon-Lindzey Study of Values test,both U.S.and British executives consistently score highest on ________ values and lowest on ________ values.
A) religious and theoretical; economic and social
B) religious and economic; political and social
C) economic and political; social and religious
D) social and religious; aesthetic and political
E) religious; economic
Answer: C
Q2) Blindly following orders reflects which type of moral relativism?
A) naive relativism
B) role relativism
C) principled relativism
D) cultural relativism
E) social group relativism
Answer: B
Q3) Cultural norms and values seldom guide ethical behavior in business.
A)True
B)False
Answer: False
Page 5
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Chapter 4: Environmental Scanning and Industry Analysis
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Sample Questions
Q1) Competitive intelligence is a formal program of gathering information on a company's competitors.
A)True
B)False
Q2) Which of the following is not descriptive of a high level of bargaining powers of buyers?
A) Changing suppliers costs very little.
B) Alternative suppliers are plentiful because of standardization of the product.
C) The purchased product represents a high percentage of buyer's costs.
D) The buyer buys a large proportion of the seller's product or service.
E) A buyer earns high profits and is very insensitive to costs and service differences.
Q3) A fragmented industry is dominated by a few large firms,each of which struggles to differentiate its products from the competition.
A)True
B)False
Q4) Define competitive intelligence.
Q5) Discuss the most commonly practiced form of forecasting.
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Chapter 5: Organizational Analysis and Competitive Advantage
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Sample Questions
Q1) Describe Barney's VRIO framework.
Q2) Which of the following terms best describes a system in which items are normally processed sequentially,but the work and sequence of the process vary?
A) continuous system
B) debt capacity
C) chronological processing
D) operating leverage
E) intermittent system
Q3) An example of an intermittent manufacturing system is an auto body repair shop.
A)True
B)False
Q4) When scientists concentrate on quality control and the development of design specifications and improved production equipment,it is referred to as
A) basic R&D.
B) product R&D.
C) engineering R&D.
D) life cycle R&D.
E) R&D mix.
Q5) What is corporate culture and what are the two distinct attributes of culture?
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Chapter 6: Strategy Formulation: Business Strategy
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Sample Questions
Q1) One skill required of the cost leadership strategy is a strong marketing ability.
A)True
B)False
Q2) Walt Disney Company competes successfully in the entertainment industry using which of Porter's competitive strategies?
A) differentiation focus
B) stuck in the middle
C) cost leadership
D) differentiation
E) cost focus
Q3) Product engineering,creative flair,and strong cooperation from channels are commonly required skills and resources for which of Porter's generic strategies?
A) cost leadership
B) differentiation
C) cost leadership focus
D) differentiation focus
E) collusion
Q4) Discuss the types of alliances that businesses can engage in?
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Chapter 7: Strategy Formulation: Corporate Strategy
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Sample Questions
Q1) What is portfolio analysis?
Q2) According to the BCG Growth-Share Matrix,cash cows are market share leaders typically at the growth stage of their product life cycle and are usually able to generate enough cash to maintain their high share of the market.
A)True
B)False
Q3) A limitation of the BCG Growth-Share Matrix is the questionable link between market share and profitability.
A)True
B)False
Q4) When a firm internally makes 100% of its key supplies and completely controls its distributors,this is known as
A) full integration.
B) taper integration.
C) mass integration.
D) economical integration.
E) strategic integration.
Q5) Discuss the differences among full integration,taper integration,and quasi-integration.
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Chapter 8: Strategy Formulation: Functional Strategy and Strategic Choice
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Q1) A popular financial strategy in which a company is acquired in a transaction financed largely by debt and eventually paid with money generated from the acquired company's operations or by sale of its assets is
A) illegal in most countries.
B) a good way to build a core competency.
C) an application of the capital asset pricing model.
D) the leveraged buyout.
E) an example of internal financing.
Q2) When Smith & Wesson puts its name on others' products,like men's cologne,it is using which marketing strategy?
A) demand pricing
B) brand pricing
C) brand extension
D) penetration extension
E) demand extension
Q3) What does a financial strategy examine?
Q4) In evaluating a strategic alternative,if there is little fit with the company's culture,what are management's options?
Q5) Discuss W.Edwards Deming's position on sole sourcing.
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Chapter 9: Strategy Implementation: Global Strategy
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Sample Questions
Q1) An export division is established to oversee foreign sales offices in which stage of international development?
A) Stage 1
B) Stage 2
C) Stage 3
D) Stage 4
E) Stage 5
Q2) Within a year of returning home,25% of expats
A) leave the company to join a competitor.
B) get promoted.
C) take a headquarters position.
D) take another international assignment.
E) mentor other expats.
Q3) What percent of midsize and larger companies send some of their employees abroad?
A) 10%
B) 25%
C) 40%
D) 60%
E) 80%
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Chapter 10: Strategy Implementation: Organizing and Structure
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Sample Questions
Q1) The first stage of corporate development is the simple structure.
A)True
B)False
Q2) Which structure is described as a "non-structure" by its virtual elimination of in-house business functions?
A) strategic business units
B) functional structure
C) network structure
D) divisional structure
E) matrix structure
Q3) The radical redesign of business processes to achieve major gains in cost,service,or time is called
A) total quality management.
B) reengineering.
C) management by objectives.
D) action planning.
E) statistical process control.
Q4) What are the four stages of corporate development?
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Q5) What is synergy? According to Goold and Campbell,what are the six forms it can take?
Chapter 11: Strategy Implementation: Staffing and Directing
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Q1) Which of the following is not a guideline proposed for successful downsizing?
A) Contract out work that others can do cheaper.
B) Plan for long-run efficiencies.
C) Make across-the-board cuts.
D) Communicate the reasons for actions.
E) Invest in the remaining employees.
Q2) Downsizing refers to the planned elimination of positions or jobs; it is often used to implement retrenchment strategies.
A)True
B)False
Q3) To successfully downsize,the recommendation is to make across-the-board cuts to maintain fairness.
A)True
B)False
Q4) Research indicates that a multi-national corporation performs at a higher level when its CEO has international experience.
A)True
B)False
Q5) What is executive succession? Discuss the hiring of insiders versus outsiders.
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Chapter 12: Evaluation and Control
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Sample Questions
Q1) One of the key reasons for the success of Walmart has been management's use of the company's sophisticated information system to control purchasing decisions.
A)True
B)False
Q2) Return on investment (ROI) is the most widely used measure of performance in what responsibility center?
A) revenue center
B) expense center
C) investment center
D) profit center
E) standard cost center
Q3) Walt Disney Company,Dow Chemical,IBM,and General Motors are just some firms in which top management compensation is ________.
A) contingent upon the company's achieving strategic objectives
B) not contingent upon the company's achieving strategic objectives
C) contingent upon the company's product development process
D) contingent upon the individual's ability to expand internationally
E) contingent upon the board's approval
Q4) Distinguish between behavior and output controls.Provide examples of each.
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Chapter 13: Suggestions for Case Analysis
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Q1) Which financial ratio indicates how much after-tax profit is generated by each dollar of sales?
A) return on investment
B) return on equity
C) gross profit margin
D) net profit margin
E) inventory to net working capital
Q2) A Z-value below 10 indicates significant credit problems.
A)True
B)False
Q3) Which financial ratio measures the extent to which borrowed funds have been used to finance the company's assets?
A) debt to asset ratio
B) debt to equity ratio
C) long-term debt to capital structure
D) times interest earned
E) current liabilities to equity
Q4) What ratios are recommended for financial ratio analysis?
Q5) In performing a basic financial analysis,what five steps should be taken?
Q6) What are common-size statements?
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