Organizational Management
Midterm Exam
Course Introduction
Organizational Management explores the principles, strategies, and practices essential for effectively leading and coordinating individuals and teams within various types of organizations. This course covers key management functions such as planning, organizing, leading, and controlling, along with topics like organizational structure, culture, decision-making, and change management. Students will analyze real-world scenarios to understand how managers address challenges, motivate employees, and leverage resources to achieve organizational goals in dynamic business environments.
Recommended Textbook
Strategic Management and Competitive Advantage 6th Edition by Jay B. Barney
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12 Chapters
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Chapter 1: What Is Strategy and the Strategic Management Process
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Sample Questions
Q1) Waring found that firms that operate in industries that are informationally complex,require customers to know a great deal in order to use the industry's products,require a great deal of R & D,and have significant economies of scale are more likely to have sustained competitive advantage than those firms in industries without those characteristics.
A)True
B)False
Answer: True
Q2) Emergent strategies are theories of how to gain competitive advantage in an industry that emerge over time or that have been radically reshaped once they are initially implemented.
A)True
B)False
Answer: True
Q3) All firms have almost entirely emergent strategies.
A)True
B)False
Answer: False
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Chapter 2: Evaluating a Firms External Environment
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Sample Questions
Q1) ________ is/are the distribution of individuals in a society in terms of age,sex,marital status,income,ethnicity,and other personal attributes that may determine buying patterns.
A)Demographics
B)Economics
C)Technological trends
D)Culture
Answer: A
Q2) The threat of suppliers in the legal industry can best be described as
A)low because there are a large number of suppliers selling an undifferentiated product.
B)high because there are a large number of suppliers selling an undifferentiated product.
C)moderate because the large number of suppliers is offset by the undifferentiated products they are selling.
D)moderate because of the slowing growth rate in the industry and the commodity nature of the products produced by suppliers.
Answer: A
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Chapter 3: Evaluating a Firms Internal Capabilities
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Sample Questions
Q1) The assumption of resource immobility holds that it may be very costly for firms without certain resources and capabilities to develop or acquire them.
A)True
B)False
Answer: True
Q2) In the VRIO framework,the R represents resources.
A)True
B)False
Answer: False
Q3) If there is a conflict between the resources a firm controls and the firm's organization,the resources should be changed.
A)True
B)False Answer: False
Q4) Financial resources include only the profits a firm has made earlier in its history and that it has reinvested in itself.
A)True
B)False Answer: False
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Chapter 4: Cost Leadership
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Sample Questions
Q1) Firms implementing cost-leadership strategies will generally adopt a
A)multidivisional structure.
B)product divisional structure.
C)functional organizational structure.
D)matrix structure.
Q2) If Sematech were to continue seeking methods to maintain the company's cost-leadership position that would be costly to duplicate,which of the following is most likely to be a basis of cost leadership that may be costly to duplicate?
A)establishing economies of scale
B)exploiting learning-curve economies
C)purchasing new technological hardware
D)securing differential access to low-cost productive inputs
Q3) In general,cost advantages are not possible when competing firms produce similar products.
A)True
B)False
Q4) Identify the most appropriate organizational structure for a firm pursuing a cost-leadership strategy.
Q5) Discuss the difference between the learning curve and economies of scale.
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Chapter 5: Product Differentiation
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Sample Questions
Q1) If products or services are perceived as being different in a way that is valued by customers,even if there is no physical differentiation,then product differentiation exists.
A)True
B)False
Q2) The most obvious way that firms can try to differentiate their products is by
A)making the product more complex.
B)introducing the product at the right time.
C)customizing the product for a particular segment.
D)altering the features of the products they sell.
Q3) If Coach had an organizational structure that used cross-functional teams,the members of which reported not only to their functional boss (i.e.the head of production)but also to the head of the team,Coach could be said to be using which organizational structure?
A)product divisional
B)matrix
C)U-form
D)multi-domestic
Q4) Define product differentiation and discuss the role that customer perceptions play in product differentiation.
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Chapter 6: Flexibility and Real Options
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Sample Questions
Q1) The greater the uncertainty,the more valuable a real option is.
A)True
B)False
Q2) In reality,strategic choices are often made over time,in a ________ manner.
A)planned
B)staged
C)deliberate
D)flexible
Q3) When real options are path dependent,they are not likely to be a source of competitive advantage for a firm.
A)True
B)False
Q4) A firm building a plant with the ability to add capacity at low cost is an example of the option to ________.
A)defer
B)grow
C)contract
D)abandon
Q5) What are positioning options? How are they different from scouting options?
Q6) What are strategic options?
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Chapter 7: Collusion
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Sample Questions
Q1) A "price leader" is the firm that sells at the lowest price in the industry.
A)True
B)False
Q2) Tacit collusion is more likely to be successful if there ________ firms in an industry.
A)are a large number of B)is a small number of C)are unequally sized
D)are successful
Q3) ________ of economic costs enhances the opportunities to implement tacit collusion.
A)Heterogeneity
B)Transparency
C)Homogeneity
D)Opacity
Q4) Tacit collusion exists when firms cooperate in reducing competition,but engage in no face to face negotiations to do so.
A)True
B)False
Q5) What is collusion?
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Chapter 8: Vertical Integration
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Sample Questions
Q1) Numerous conflicts can arise among functional managers in a vertically integrated U-form organization.
A)True
B)False
Q2) If Digipics were to agree to spend a significant amount of money to establish a new assembly line for a large client,PicPro,that has unique needs that would make this assembly line largely useless for any other customer,the funds Digipics spent in establishing this line would be an example of
A)forward vertical integration.
B)backward vertical integration.
C)a transaction-specific investment.
D)opportunism.
Q3) The ________ explanations call for compensation that focuses on individual employees,such as cash bonuses for individual performance.
A)capabilities-based
B)strategically-based
C)flexibility-based
D)opportunism-based
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Chapter 9: 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) Over the last decade,more and more diversified firms have been abandoning efforts at managing each business's activities independently in favor of increased activity sharing.
A)True
B)False
Q3) Multipoint competition requires loose coordination between the different businesses in which a firm operates.
A)True
B)False
Q4) A firm's stakeholders include all of those groups or individuals who have an interest in how a firm performs.
A)True
B)False
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Chapter 10: Organizing to Implement Corporate
Diversification
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Sample Questions
Q1) One common agency problem occurs when managers decide to take some of a firm's capital and invest it in managerial perquisites that do not add economic value to the firm but that do directly benefit those managers.
A)True
B)False
Q2) Kelly Rae's position is SpandoCorp is best described as a(n)
A)institutional investor.
B)senior executive.
C)division general manager.
D)member of the board of directors.
Q3) In a diversified firm,market prices are set by a firm's corporate management to accomplish corporate objectives while transfer prices are determined by the market forces of supply and demand.
A)True
B)False
Q4) Discuss the relationship between accounting methods of measuring divisional performance and economic methods,identify the formula used for calculating economic value added,and discuss methods for adjusting accounting earnings and the importance of making these adjustments.
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Chapter 11: Strategic Alliances
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Q1) In general,the ________ tangible the resources and capabilities that are to be brought to a strategy alliance,the ________ costly it will be to estimate their value before an alliance is created,and the ________ likely it is that adverse selection will occur.
A)more; more; more B)less; more; less C)less; more; more D)more; more; less
Q2) In the computer technology-based industries,over ________ alliances were created between 2001 and 2005.
A)5,700
B)1,200
C)2,200
D)3,100
Q3) The existence of moral hazard in a strategic alliance proves that at least one of the parties is either malicious or dishonest.
A)True
B)False
Q4) What is the connection between strategic alliances and real options?
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Chapter 12: Mergers and Acquisitions
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Q1) Unfriendly takeovers can generate anger and animosity among the target firm management that is directed toward the management of the bidding firm.
A)True
B)False
Q2) A(n)________ acquisition occurs when the management of a target firm wants to be acquired.
A)hostile
B)admirable
C)strategic
D)friendly
Q3) A ________ is another bidding firm that agrees to acquire a particular target in the place of the original bidding firm.
A)golden parachute
B)greenmail
C)white knight
D)crown jewel
Q4) A firm engages in an acquisition when it purchases a second firm.
A)True
B)False
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