Organizational Policy and Strategy
Final Exam
Course Introduction
Organizational Policy and Strategy examines the formulation, implementation, and evaluation of policies and strategies within business organizations. The course explores how top management analyzes internal and external environments, identifies organizational goals, and develops action plans to achieve competitive advantage. Topics covered include strategic planning, stakeholder analysis, corporate governance, ethics, decision-making frameworks, and the impact of globalization on strategy. Through case studies and real-world examples, students will learn to critically assess policy choices, align strategy with organizational mission, and address challenges in dynamic business environments.
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) The type of strategy,which describes a company's overall direction in terms of its general attitude toward growth and the management of its various businesses is
A) functional.
B) operational.
C) business.
D) product.
E) corporate.
Answer: E
Q2) In a survey of 50 corporations,which of the following was rated as one of the three top benefits of strategic management?
A) clearer sense of strategic vision for the firm
B) higher levels of employee motivation
C) higher levels of job satisfaction
D) improved productivity
E) lower employee turnover
Answer: A
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Chapter 2: Corporate Governance
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99 Flashcards
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Sample Questions
Q1) A 2011 McKinsey and Company survey found that less than ten percent of a board's time is spent on current strategy.
A)True
B)False
Answer: False
Q2) Executive leadership is the directing of activities toward the accomplishment of corporate objectives.
A)True
B)False
Answer: True
Q3) By 2012,56% of the S&P 500 boards had split the role of chairperson and CEO.
A)True
B)False
Answer: True
Q4) Generally,the smaller the corporation,the less active is its board of directors.
A)True
B)False
Answer: True
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Chapter 3: Social Responsibility and Ethics in Strategic Management
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103 Flashcards
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Sample Questions
Q1) Law refers to formal codes that permit or forbid certain behaviors and may or may not enforce ethics or morality.
A)True
B)False
Answer: True
Q2) The principle,which proposes that punishment should be determined on a proportional basis to the "crime" is called
A) compensatory justice.
B) retributive justice.
C) relevant justice.
D) distributive justice.
E) punitive justice.
Answer: B
Q3) Secondary stakeholders have a direct connection with the corporation and have sufficient bargaining to directly affect corporate activities.
A)True
B)False
Answer: False
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Chapter 4: Environmental Scanning and Industry Analysis
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) All of the following are technological breakthroughs already having a significant impact on many industries EXCEPT
A) growing health consciousness.
B) alternative energy sources.
C) genetically altered organisms.
D) smart, mobile robots.
E) virtual personal assistants.
Q2) The primary activity of a competitive intelligence unit is to A) monitor competitors.
B) engage in corporate espionage.
C) survey stakeholders.
D) determine industry R&D statistics.
E) reverse engineer competitors' products.
Q3) The only factor used to determine whether an industry will be primarily multi-domestic or primarily global is the pressure for local responsiveness.
A)True
B)False
Q4) Define competitive intelligence.
Q5) Describe the four strategic types of the Miles and Snow typology.
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Chapter 5: Organizational Analysis and Competitive Advantage
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110 Verified Questions
110 Flashcards
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Sample Questions
Q1) Core competencies may mature and become core deficiencies.
A)True
B)False
Q2) A divisional structure has no functional or product categories and is appropriate for a small,entrepreneur-dominated company with one or two product lines that operates in a reasonably small,easily identifiable market niche.
A)True
B)False
Q3) A functional structure is appropriate for a medium-sized firm with several product lines in one industry.
A)True
B)False
Q4) When a company uses the same marketing channel for two separate products,this is an example of an economy of scope.
A)True
B)False
Q5) Capabilities refer to a corporation's ability to exploit its resources.
A)True
B)False
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Chapter 6: Strategy Formulation: Business Strategy
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113 Flashcards
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Sample Questions
Q1) Most entrepreneurial ventures attempt to follow focus strategies.
A)True
B)False
Q2) Tacit collusion
A) involves direct communication among competing firms.
B) is most likely to be successful if there are many competitors.
C) is seen with conscious parallelism as practiced by GE and Westinghouse in the pricing of turbine engines.
D) is not illegal.
E) is most effective when the industry does not have a firm that acts as a price leader.
Q3) The first firm through a strategic window can occupy an extremely favorable niche and discourage competition (if the firm has the required internal strengths).
A)True
B)False
Q4) One of the first steps in good strategy design should include crafting the mission statement for the organization.
A)True
B)False
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Chapter 7: Strategy Formulation: Corporate Strategy
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108 Flashcards
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Sample Questions
Q1) Which strategy is most appropriate as a temporary strategy to enable a corporation to consolidate its resources after prolonged rapid growth in an industry now facing an uncertain future?
A) horizontal integration strategy
B) no change strategy
C) retrenchment strategy
D) pause/proceed with caution strategy
E) profit strategy
Q2) Discuss the more popular stability strategies.
Q3) Which of the following is not one of the limitations of the BCG Growth-Share Matrix?
A) It is too simplistic.
B) The link between market share and profitability is questionable.
C) Growth rate is only one aspect of industry attractiveness.
D) The market leader is ignored in the analysis.
E) Small competitors with fast-growing market share are ignored.
Q4) Vertical integration is going backward on an industry's value chain.
A)True
B)False
Q5) Define a retrenchment strategy.Discuss the more popular options.
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Chapter 8: Strategy Formulation: Functional Strategy and Strategic Choice
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Sample Questions
Q1) The orientation of the functional strategy is dictated by its parent business unit's strategy.
A)True
B)False
Q2) Which of the following reflects the impact of industry backgrounds on strategic choices?
A) Executives from other industries tend to make riskier decisions.
B) Executives with strong ties within an industry tend to choose strategies commonly used in that industry.
C) Executives from other industries tend to downsize as a first choice.
D) Executives with strong ties within an industry tend to make riskier decisions.
E) Executives from other industries tend to emphasize ROI.
Q3) What is a functional strategy?
Q4) A company that pioneers an innovation is called a
A) technological follower.
B) technological opportunist.
C) technological leader.
D) technological manufacturer.
E) technological entrepreneur.
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Chapter 9: Strategy Implementation: Global Strategy
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Sample Questions
Q1) When designing a plan for repatriation,
A) communication should begin as soon as the manager returns home.
B) it should always include details of the next international assignment.
C) the employee should be involved in how he or she would like to incorporate the skills learned at the home office.
D) little of the experience should be shared during the assignment.
E) the plan should be generic enough to apply to all expatriates.
Q2) Research suggests that joint ventures are more successful in international undertakings than are wholly owned subsidiaries.
A)True
B)False
Q3) Using third-country nationals
A) eliminates misunderstandings with local employees.
B) eliminates conflicts with the host country's government.
C) is a widespread practice among European firms.
D) decreases the opportunities for promotion.
E) is the transfer of parent company managers to an international assignment.
Q4) Production sharing is often called outsourcing.
A)True
B)False
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Chapter 10: Strategy Implementation: Organizing and Structure
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Sample Questions
Q1) What is the matrix structure? What are the three conditions which usually exist when the matrix structure is found?
Q2) The geographic-area structure allows the company to introduce and manage a similar line of products around the world.
A)True
B)False
Q3) Firms in the same industry seldom organize themselves in similar ways.
A)True
B)False
Q4) According to a survey of Fortune 500 firms,the most frequently cited problem with implementing a strategic change is that implementation took more time than originally planned.
A)True B)False
Q5) Discuss the network structure.
Q6) Poor implementation is often blamed for strategic failure.
A)True
B)False
Q7) Discuss Chandler's conclusion concerning strategy.
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Chapter 11: Strategy Implementation: Staffing and Directing
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Sample Questions
Q1) Which method of managing disparate cultures involves one organization's domination over another willing organization?
A) separation
B) deculturation
C) integration
D) assimilation
E) segmentation
Q2) TQM is committed to
A) quality/excellence.
B) improved communication.
C) culture compatibility.
D) mass customization.
E) modular manufacturing.
Q3) Research indicates that a multi-national corporation performs at a higher level when its CEO has international experience.
A)True
B)False
Q4) When downsizing,it is important to eliminate all R&D and maintenance expenses.
A)True
B)False
Page 13
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Chapter 12: Evaluation and Control
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Sample Questions
Q1) According to the text,using a long-term performance evaluation system,a company executive might be promised incentives such as
A) company cars.
B) company stock.
C) health insurance.
D) retirement plans.
E) vacations.
Q2) What term describes when activities originally intended to help managers attain corporate objectives become ends in themselves or are adapted to meet ends other than those for which they were intended?
A) economic rationality
B) minimal acceptable behavior
C) goal displacement
D) closed system thinking
E) Machiavellianism
Q3) ERP software provides instant access to critical information to everyone in the organization from the CEO to the factory floor worker.
A)True
B)False
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Chapter 13: Suggestions for Case Analysis
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Sample Questions
Q1) "Times interest earned" is an example of a(n)
A) leverage ratio.
B) liquidity ratio.
C) activity ratio.
D) asset management ratio.
E) profitability ratio.
Q2) Which financial ratio indicates the percentage of profit that is paid out as dividends?
A) return on equity
B) dividend payout ratio
C) dividend yield on common stock
D) price/earnings ratio
E) debt to asset ratio
Q3) Inventory turnover and asset turnover are both examples of which type of financial ratio?
A) liquidity ratio
B) profitability ratio
C) activity ratio
D) leverage ratio
E) revenue ratio
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