Organizational Policy and Strategy
Exam Materials
Course Introduction
Organizational Policy and Strategy explores the formulation, implementation, and evaluation of policies and strategies within various types of organizations. The course examines the internal and external environments that influence strategic decision-making, introduces analytical tools for assessing organizational strengths and weaknesses, and delves into approaches to achieve competitive advantage. Through case studies, discussions, and problem-solving exercises, students learn to align organizational resources, culture, and capabilities with long-term objectives, emphasizing the importance of ethical considerations and proactive leadership in navigating complex business landscapes.
Recommended Textbook
Strategic Management and Business Policy 13th Edition by Thomas L. Wheelen
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12 Chapters
1260 Verified Questions
1260 Flashcards
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Page 2
Chapter 1: Basic Concepts in Strategic Management
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) The strategic audit is an all-inclusive list of critical questions needed for a detailed strategic analysis of any business.
A)True
B)False
Answer: False
Q2) The type of strategy which achieves corporate and business unit objectives and strategies by maximizing resource productivity is
A)functional.
B)operational.
C)business.
D)product.
E)corporate.
Answer: A
Q3) The goal of NAFTA is complete economic integration.
A)True
B)False
Answer: False
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Page 3
Chapter 2: Corporate Governance
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97 Verified Questions
97 Flashcards
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Sample Questions
Q1) According to the text, which of the following is NOT a typical standing committee of boards of directors?
A)audit committee
B)compensation committee
C)executive committee
D)nominating committee
E)public relations committee
Answer: E
Q2) Research reveals that the likelihood of a firm engaging in illegal behavior or being sued declines
A)with a larger board.
B)with the addition of insiders on the board.
C)with the addition of outsiders on the board.
D)with a smaller board.
E)with a well-compensated board.
Answer: C
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4
Chapter 3: Ethics and Social Responsibility in Strategic Management
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97 Verified Questions
97 Flashcards
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Sample Questions
Q1) Primary stakeholders have a direct connection with the corporation and have sufficient bargaining to directly affect corporate activities.
A)True
B)False
Answer: True
Q2) According to Kohlberg, the third level of moral development, characterized by a person's adherence to an internal moral code, is called
A)principled.
B)conventional.
C)essential.
D)preconventional.
E)fundamental.
Answer: A
Q3) A company may have some stakeholders of which it is only marginally aware.
A)True
B)False
Answer: True
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Page 5
Chapter 4: Environmental Scanning and Industry Analysis
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116 Verified Questions
116 Flashcards
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Sample Questions
Q1) Which barrier to entry uses cost advantages associated with large size?
A)rivalry among existing firms
B)switching costs
C)cost disadvantages independent of size
D)capital requirements
E)economies of scale
Q2) An industry dominated by a few large firms, all of which struggle with product differentiation, is known as
A)multidomestic.
B)consolidated.
C)global.
D)indigenous.
E)worldwide.
Q3) Which barrier to entry is demonstrated by Microsoft's MS-DOS operating system?
A)government policy
B)switching costs
C)cost disadvantages independent of size
D)capital requirements
E)economies of scale
Q4) Describe the four general forces in the societal environment.
Page 6
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Chapter 5: Internal Scanning and Organizational Analysis
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) A core competency can be easily imitated to the extent that it is transparent, transferable, and replicable.
A)True
B)False
Q2) Which one of the following best describes a conglomerate structure?
A)Work is divided into subunits on the basis of such functions as manufacturing, marketing, finance, and human resources.
B)This is most appropriate for large corporations with many product lines in several related industries, with employees acting as functional specialists attempting to gain synergy among divisional activities.
C)This is most appropriate for small, entrepreneur-dominated companies with one or two product lines that operate in a small niche market, with employees acting as jack-of-all trades.
D)Employees have two or more superiors, a project manager and a functional manager.
E)This is most appropriate for large corporations with many product lines in several unrelated industries; unrelatedness prevents any attempt at gaining synergy among the divisions.
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Chapter 6: Strategy Formulation: Situation Analysis and Business Strategy
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) Which of the following is NOT an offensive tactic?
A)frontal assault
B)flanking maneuver
C)guerilla warfare
D)raising structural barriers
E)encirclement
Q2) One risk of a cost leadership strategy is that the technology may change.
A)True
B)False
Q3) One skill required of the cost leadership strategy is a strong marketing ability.
A)True
B)False
Q4) Which of the following is NOT a reason companies or business units may form a strategic alliance?
A)To obtain technological and/or manufacturing capabilities.
B)To reduce financial risk.
C)To reduce political risk.
D)To set prices in the industry.
E)To learn new capabilities.
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Chapter 7: Strategy Formulation: Corporate Strategy
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) The stability strategies are really a lack of any strategy.
A)True
B)False
Q2) Describe the four categories of the BCG Growth Share Matrix.
Q3) In which strategy does management hope that another company will have the necessary resources and determination to return the company to profitability?
A)sell out
B)captive company
C)liquidation
D)bankruptcy
E)all of the above
Q4) The purpose of vertical growth is to
A)take over a function previously supplied by a former employer.
B)take over a function previously provided by a supplier or by a distributor.
C)acquire a company of similar objective.
D)sell a company encumbered with debt.
E)expand to countries with strong trade alliances.
Q5) Define a retrenchment strategy.Discuss the more popular options.
Q6) What is portfolio analysis?
Q7) What are the more popular options for international entry?
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Chapter 8: Strategy Formulation: Functional Strategy and Strategic Choice
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) Which one of the following is NOT true of risk?
A)It is composed of the length of time the asset will be unavailable for other uses.
B)It is the probability that the strategy will be effective.
C)Managers who own a significant amount of stock in their firms are less likely to engage in risk-taking actions.
D)It is the amount of assets the corporation must allocate to that strategy.
E)The greater the assets involved, the more likely top management is to demand a high probability of success.
Q2) A company which imitates the products of competitors is referred to as a(n)
A)technological follower.
B)technological opportunist.
C)technological leader.
D)technological manufacturer.
E)technological entrepreneur.
Q3) If the strategy is incompatible with the corporate culture, the likelihood of its success is very low.
A)True
B)False
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Chapter 9: Strategy Implementation: Organizing for Action
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) The establishment of its own sales company with offices in other countries to eliminate the middlemen and to better control marketing occurs in Stage ________ of international development.
A)1
B)2
C)3
D)4
E)5
Q2) Which structure simultaneously combines functional and product forms at the same level of the organization?
A)strategic business units
B)functional structure
C)network structure
D)divisional structure
E)matrix structure
Q3) What are the four stages of corporate development?
Q4) Stage IV of a corporation could involve a pressure-cooker crisis.
A)True
B)False
Q5) How can a corporation's life cycle be extended?
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Chapter 10: Strategy Implementation: Staffing and Directing
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) Which of the following is NOT an essential ingredient of TQM?
A)Intense focus on customer satisfaction.
B)Internal as well as external customers.
C)Action planning.
D)Continuous improvement.
E)Accurate measurement of every critical variable in a company's operations.
Q2) When Admiral was acquired by Maytag Corporation, the Admiral employees were willing to accept the dominance of Maytag's strong quality-oriented culture.This demonstrates which approach to managing culture?
A)integration
B)separation
C)deculturation
D)assimilation
E)segmentation
Q3) According to Hofstede's dimensions of national culture, uncertainty avoidance is the extent to which a society accepts an unequal distribution of power in organizations.
A)True
B)False
Q4) List the guidelines proposed for successful downsizing.
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Chapter 11: Evaluation and Control
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) Which of the following is a way in which managers can improve their company's or business unit's EVA?
A)earning more profit without using more capital
B)using more capital
C)investing capital in multiple low-return projects
D)extending their line of credit
E)all of the above
Q2) Which company experienced a tarnished reputation and scandal after experiencing behavior substitution when employees altered their behavior on the job to fit the reward system?
A)Sears, Roebuck, & Co.
B)J)C. Penney
C)Neiman Marcus
D)Saks
E)Macy's
Q3) One advantage of using ROI is that it is a single comprehensive figure that includes all revenues, costs, and expenses.
A)True
B)False
Q4) List the five step feedback model of the evaluation and control process.
Page 13
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Chapter 12: Suggestions for Case Analysis
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) The formula which indicates if a company embarking on a growth strategy will need to take on debt to fund this growth is called
A)the return on investment.
B)the CAPM.
C)the index of sustainable growth.
D)operating cash flow.
E)the Z-value.
Q2) What has been the most popular method of teaching strategy and policy for years?
A)case analysis
B)lecture
C)team teaching
D)group presentations
E)student teaching
Q3) A typical financial analysis would compare the firm under study with industry standards.
A)True
B)False
Q4) Key liquidity ratios include the current ratio, quick ratio, and cash ratio.
A)True
B)False
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