Organizational Policy and Strategy
Test Preparation
Course Introduction
Organizational Policy and Strategy explores the formulation, implementation, and evaluation of policies and strategies that guide organizations toward their long-term goals. This course examines strategic management concepts, decision-making processes, and the alignment between organizational resources, competitive environments, and overall objectives. Students will analyze real-world case studies to understand how internal and external factors influence strategic choices, and how leaders develop policies to drive organizational effectiveness and change. Emphasis is placed on critical thinking, problem-solving, and the ethical considerations involved in strategic leadership and policy development.
Recommended Textbook
Strategic Management A Competitive Advantage Approach Concepts and Cases 14th Edition by Available Study Resources on Quizplus 11 Chapters 1337 Verified Questions 1337 Flashcards
Source URL: https://quizplus.com/study-set/1395 Page 2
Chapter 1: The Nature of Strategic Management
Available Study Resources on Quizplus for this Chatper
131 Verified Questions
131 Flashcards
Source URL: https://quizplus.com/quiz/27795
Sample Questions
Q1) An organization's vision statement
A) is a constant reminder to its employees of why the organization exists.
B) broadly charts the future direction of an organization.
C) addresses the basic question: "What is our business?"
D) answers the question: "What do we want to become?"
E) none of the above
Answer: D
Q2) According to research, a healthier workforce can more effectively and efficiently implement strategies.
A)True
B)False
Answer: True
Q3) ________ allows firms to sell products, advertise, purchase supplies, bypass intermediaries, track inventory, and eliminate paperwork.
A) Social networking
B) E-commerce
C) Blogging
D) Video sites
E) None of the above
Answer: B
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: The Business Vision and Mission
Available Study Resources on Quizplus for this Chatper
113 Verified Questions
113 Flashcards
Source URL: https://quizplus.com/quiz/27798
Sample Questions
Q1) According to Vern McGinnis, an effective mission statement should define what the organization is and what the organization aspires to be.
A)True
B)False
Answer: True
Q2) The vision statement answers which question?
A) What is our business?
B) How can we improve ourselves?
C) What do we want to become?
D) Who are our stakeholders?
E) How can we increase profitability?
Answer: C
Q3) An effective mission statement should do all of the following EXCEPT
A) include monetary amounts, numbers, percentages and ratios
B) be inspiring
C) reveal that the firm is environmentally responsible
D) identify the utility of a firm's products
E) be reconciliatory
Answer: A
To view all questions and flashcards with answers, click on the resource link above.
Page 4
Chapter 3: The External Assessment
Available Study Resources on Quizplus for this Chatper
127 Verified Questions
127 Flashcards
Source URL: https://quizplus.com/quiz/27799
Sample Questions
Q1) Remaining solely domestic is an increasingly safer strategy for U.S. companies.
A)True
B)False
Answer: False
Q2) One difference between CPM and EFE is that
A) CPM includes both internal and external issues.
B) the weights and total weighted scores have different meanings.
C) CPM ratings range from 1 to 10.
D) CPM is performed only for the company, whereas EFE is performed for both the company and its competitors.
E) CPM is only used in small firms.
Answer: A
Q3) List three opportunities and three threats that could represent key factors facing your college or university.
Answer: Student answers will vary. However, they should look at economic, social/cultural, political/legal, technological, and competitive factors. Lists for all categories of external forces are found in tables in the chapter.
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: The Internal Assessment
Available Study Resources on Quizplus for this Chatper
132 Verified Questions
132 Flashcards
Source URL: https://quizplus.com/quiz/27800
Sample Questions
Q1) The management function of organizing is included in human resource management.
A)True
B)False
Q2) Which ratio would be considered an activity ratio?
A) Debt-to-equity
B) Net profit margin
C) Average collection period
D) Earnings per share
E) Current ratio
Q3) Increased efficiency, quality, productivity, and job satisfaction can come from cross-training workers.
A)True
B)False
Q4) Identify the five basic functions of management, and describe each function.
Q5) Motivation is one explanation why some people work hard and others do not.
A)True
B)False
Q6) Objectives provide direction and allow for organizational synergy.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Strategies in Action
Available Study Resources on Quizplus for this Chatper
131 Verified Questions
131 Flashcards
Source URL: https://quizplus.com/quiz/27801
Sample Questions
Q1) Backward integration is effective in all of these cases EXCEPT
A) when an organization competes in an industry that is growing rapidly
B) when an organization has both capital and human resources to manage the new business of supplying its own raw materials
C) when an organization needs to acquire a needed resource quickly
D) when the advantages of stable prices are not important
E) when present suppliers have high profit margins
Q2) What occurs when two or more companies form a temporary partnership or consortium for the purpose of capitalizing on some opportunity?
A) Retrenchment
B) A joint venture
C) Liquidation
D) Forward integration
E) Divestiture
Q3) Product development is an appropriate strategy when an organization has successful products that are in the maturity stage of the product life cycle.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Chapter 6: Strategy Analysis and Choice
Available Study Resources on Quizplus for this Chatper
113 Verified Questions
113 Flashcards
Source URL: https://quizplus.com/quiz/27802
Sample Questions
Q1) Successful strategists minimize their own political exposure on issues that are highly controversial and in circumstances where opposition from major power centers is likely.
A)True
B)False
Q2) Strategy formulation requires coordination among a few individuals, but strategy implementation requires coordination among many.
A)True
B)False
Q3) Step 1 of a QSPM assigns weights to each key external and internal factor.
A)True
B)False
Q4) Cash Cows represent the organization's best long-run opportunities for growth and profitability.
A)True
B)False
Q5) Give five coordinates of a SPACE Matrix directional vector that would suggest conservative strategies to be most appropriate.
Q6) Discuss the appropriate role of a board of directors in an organization.
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Implementing Strategies: Management and Operations Issues
Available Study Resources on Quizplus for this Chatper
122 Verified Questions
122 Flashcards
Source URL: https://quizplus.com/quiz/27803
Sample Questions
Q1) All of the following are ways and means for altering an organization's culture EXCEPT
A) recruitment
B) restructuring of an organization's design
C) role modeling
D) retrenchment
E) mentoring
Q2) A change strategy that attempts to convince people that the change is to their personal advantage is
A) defusion.
B) force.
C) educative.
D) rational.
E) compromise.
Q3) Restructuring is also called rightsizing.
A)True
B)False
Q4) JIT significantly increases the costs of implementing strategies.
A)True
B)False
Page 9
To view all questions and flashcards with answers, click on the resource link above.
Chapter 8: Implementing Strategies: Marketing,
Financeaccounting, RD, and MIS
Issues
Available Study Resources on Quizplus for this Chatper
114 Verified Questions
114 Flashcards
Source URL: https://quizplus.com/quiz/27804
Sample Questions
Q1) What is a limitation of using financial budgets?
A) They can be so detailed that they are cumbersome and expensive.
B) They can become a substitute for objectives.
C) They can hide inefficiencies if done only on precedent.
D) They are sometimes used as instruments of tyranny.
E) All of the above
Q2) One R&D strategy is to be an innovative imitator of successful products.
A)True
B)False
Q3) A limitation of financial budgets is that they can hide inefficiencies if based solely on precedent rather than on periodic evaluation of circumstances and standards.
A)True
B)False
Q4) Although cash budgets can be a useful financial tool, publicly held companies are not required to complete them.
A)True
B)False
Q5) Discuss guidelines used to determine whether a firm should conduct R&D internally or externally.
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Strategy Review, Evaluation, and Control
Available Study Resources on Quizplus for this Chatper
114 Verified Questions
114 Flashcards
Source URL: https://quizplus.com/quiz/27805
Sample Questions
Q1) Discuss the three particular challenges that strategists face today.
Q2) Which of the following is NOT one of the four perspectives from which the Balanced Scorecard allows firms to evaluate strategies?
A) Social responsibility
B) Financial performance
C) Customer knowledge
D) Internal business processes
E) Learning and growth
Q3) Increased education and diversity of the workforce at all levels are reasons why the top-down approach should be favored in organizations.
A)True
B)False
Q4) There is no one ideal strategy-evaluation system for all organizations.
A)True
B)False
Q5) Strategy evaluation is becoming increasingly easier with the passage of time, given technological advances.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Business Ethicssocial
Responsibilityenvironmental Sustainability
Available Study Resources on Quizplus for this Chatper
120 Verified Questions
120 Flashcards
Source URL: https://quizplus.com/quiz/27796
Sample Questions
Q1) Under the U.S. Dodd-Frank Act, employees are encouraged to report possible acts of bribery and are awarded ________ percent of any financial sanctions against companies.
A) 5-10
B) 10-30
C) 25-30
D) 30-40
E) 40-60
Q2) Discuss how Japan is dealing with problems associated with an aging and shrinking workforce.
Q3) In Europe, romantic relationships at work are frowned upon, and most firms have policies prohibiting the practice.
A)True
B)False
Q4) Describe a sustainability report.
Q5) Social responsibility refers to actions an organization takes that are legally required to protect or enhance the well-being of living things.
A)True
B)False
Page 12
To view all questions and flashcards with answers, click on the resource link above.
Chapter 11: Globalinternational Issues
Available Study Resources on Quizplus for this Chatper
120 Verified Questions
120 Flashcards
Source URL: https://quizplus.com/quiz/27797
Sample Questions
Q1) Foreign banks currently operate and compete in most parts of the United States.
A)True
B)False
Q2) It is an exaggeration to say that in an industry that is global, the riskiest possible posture is to remain a domestic competitor.
A)True
B)False
Q3) Mexican workers expect and desire a work environment in which self-expression and initiative are encouraged.
A)True
B)False
Q4) In China, business relations revolve around guanxi, or personal relations.
A)True
B)False
Q5) Labor markets have become steadily more international with more and more countries around the world welcoming foreign investment and capital.
A)True
B)False
Q6) Compare and contrast the culture in the U.S. with Mexico.
Page 13
To view all questions and flashcards with answers, click on the resource link above.