Strategic Decision Making Exam Review
Course Introduction
Strategic Decision Making explores the frameworks, processes, and tools used to analyze and resolve complex business problems at the organizational level. The course emphasizes critical thinking and evidence-based approaches to selecting and implementing strategies under uncertainty and competitive pressure. Students learn how to evaluate alternatives, anticipate consequences, manage risk, and align decisions with organizational goals through case studies, simulations, and real-world examples across various industries.
Recommended Textbook
Strategic Management Text and Cases 8th Edition by Gregory Dess
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12 Chapters
1724 Verified Questions
1724 Flashcards
Source URL: https://quizplus.com/study-set/3051
Chapter 1: Strategic Management: Creating Competitive Advantages
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174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/60609
Sample Questions
Q1) Richard Branson,founder of the Virgin Group,empowers his companies through a(n)_______ structure in which anyone can bring forth new ideas.
A) formal
B) hierarchal
C) multi-level
D) informal
Answer: D
Q2) Richard Branson,the founder of the Virgin Group,is well known for creating an inclusive organizational structure in which anybody in the organization can be involved in generating and activating upon new business ideas.
A)True
B)False
Answer: True
Q3) Environmental sustainability is a value embraced by the most competitive and successful multinational companies.
A)True
B)False
Answer: True
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Chapter 2: Analyzing the External Environment of the Firm:
Creating Competitive Advantages
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173 Verified Questions
173 Flashcards
Source URL: https://quizplus.com/quiz/60608
Sample Questions
Q1) Which of the following is not an example of corporate competitive analysis?
A) banks tracking home loans
B) airlines changing hundreds of fares daily in response to competitor tactics
C) car manufacturers offering sales incentives based on rival offers
D) consumers comparing product offers online
Answer: D
Q2) Steve Jobs,the former chairman of Apple,used intuition and judgment to forecast the future.
A)True
B)False
Answer: True
Q3) _____________ tracks the evolution of environmental trends,sequences of events,or streams of activities.
A) Environmental scanning
B) Environmental monitoring
C) Environmental surveying
D) Competitive intelligence
Answer: B
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Chapter 3: Assessing the Internal Environment of the Firm
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174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/60607
Sample Questions
Q1) Modern plant and facilities as well as favorable manufacturing locations are tangible resources.
A)True
B)False
Answer: True
Q2) Porsche received a lot of negative feedback when it announced plans to release an SUV,but it went ahead anyway,and the Porsche Cayenne was a great success.This is an example of a peril of making decisions based on crowdsourcing.
A)True
B)False Answer: True
Q3) A primary benefit of the balanced scorecard is that it complements financial indicators with operational measures of customer satisfaction,internal processes,and the innovation and improvement activities of the organization.
A)True
B)False Answer: True
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Page 5
Chapter 4: Recognizing a Firms Intellectual Assets: Moving
Beyond a Firms Tangible Resources
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174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/60606
Sample Questions
Q1) Maintaining a competitive workforce is very challenging in the current economy.The role of evaluating human capital,in recent years,has
A) remained the same.
B) increased.
C) become less important.
D) decreased.
Q2) London-based International Power increased firm efficiency by using all but which of the following?
A) forwarding email messages only when strictly necessary
B) limiting the email message recipient list
C) using the telephone
D) eliminating email communication
Q3) The state must protect intellectual property rights reliably for companies to continue developing new products and services.
A)True
B)False
Q4) Millennials value hard work and will rarely use vacation time.
A)True
B)False
6
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Chapter 5: Business-Level Strategy: Creating and Sustaining Competitive Advantages
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163 Verified Questions
163 Flashcards
Source URL: https://quizplus.com/quiz/60605
Sample Questions
Q1) Swatch defined its watches as playful fashion accessories which were showily promoted.This is an example of reverse positioning.
A)True
B)False
Q2) Atlas Door tightly controlled logistics so that it always shipped only fully complete orders to construction sites.In regards to the five forces model,which of the following is a reason this might give them competitive advantage?
A) It helps to reduce the threat of new entrants.
B) It created low entry barriers for new entrants.
C) It created a high threat of substitution.
D) It gave more power to buyers.
Q3) Southwest Airlines uses an overall cost leadership strategy.This could fail if it
A) cannot maintain parity on differentiation dimensions requested by customers.
B) maintains parity with competitors on low cost.
C) exceeds customer expectations.
D) increases its sales prices while maintaining competitor parity.
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7
Chapter 6: Corporate-Level Strategy: Creating Value Through Diversification
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114 Verified Questions
114 Flashcards
Source URL: https://quizplus.com/quiz/60604
Sample Questions
Q1) Shaw Industries,a giant carpet manufacturer,increases its control over raw materials by producing much of its own polypropylene fiber,a key input to its manufacturing process.This is an example of using the related diversification vertical integration initiative to enhance their market power.
A)True
B)False
Q2) An acquisition that results in ______________ indicates that expectations were not met.
A) expansion
B) divestiture
C) cost savings
D) increased sales
Q3) Portfolio management should be considered as the primary basis for formulating corporate-level strategies.
A)True
B)False
Q4) Poison pills always are used to protect the best interests of management.
A)True
B)False
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Chapter 7: International Strategy: Creating Value in Global Markets
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140 Verified Questions
140 Flashcards
Source URL: https://quizplus.com/quiz/60603
Sample Questions
Q1) Which of the following is not a risk associated with a global strategy?
A) A firm with only one manufacturing location must export its product, sometimes at great distance from the operation.
B) The geographic concentration of any activity may also tend to isolate that activity from the targeted markets.
C) Concentrating an activity in a single location makes the rest of the firm dependent on that location.
D) The pressures for local adaptation may elevate the cost structure of the firm.
Q2) Statistics indicate that over half of the world output now comes from emerging markets.This is leading to a(n)___________ of living standards across the globe and is changing the face of business.
A) divergence
B) convergence
C) expansion
D) contraction
Q3) Major Western hemisphere trade blocs include NAFTA,Mercosur,and ASEAN.
A)True
B)False
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Chapter 8: Entrepreneurial Strategy and Competitive Dynamics
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115 Verified Questions
115 Flashcards
Source URL: https://quizplus.com/quiz/60602
Sample Questions
Q1) If similar competitors vie for the same customers in a marketplace,they are likely to escalate their competitive strategy through a reactive series of actions and responses.
A)True
B)False
Q2) One of the most important considerations for a new entrant is the type of strategic positioning to choose that will help the business move forward.
A)True
B)False
Q3) Because new ventures typically are small,they usually do not have high economies of scale relative to competitors.
A)True
B)False
Q4) Refinements or extensions of existing strategies are often referred to as tactical actions.
A)True
B)False
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Page 10
Chapter 9: Strategic Control and Corporate Governance
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116 Verified Questions
116 Flashcards
Source URL: https://quizplus.com/quiz/60601
Sample Questions
Q1) As firms downsize,a control system based on rewards and culture becomes dysfunctional.
A)True
B)False
Q2) The three fundamental types of control are culture,rewards and leadership,boundaries and constraints.
A)True
B)False
Q3) Agency theory is concerned with the problem that arises when the goals of the agents conflict with those of the surrounding community members.
A)True
B)False
Q4) Agency theory is concerned with resolving two problems that can occur in agency relationships.Which of the following is not one of those problems?
A) Goals conflict between principals and agents.
B) Verification of actual agency activity is expensive and difficult to obtain.
C) Principals and agents have differing attitudes toward risk.
D) Stockholders and management align with external stakeholders.
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Chapter 10: Creating Effective Organizational Designs
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121 Verified Questions
121 Flashcards
Source URL: https://quizplus.com/quiz/60600
Sample Questions
Q1) The virtual organization is characterized by participating firms which pursue a collective strategy that enables them to cope with environmental uncertainty through cooperative efforts.
A)True
B)False
Q2) One of the challenges of an ambidexterity in a firm is that managers must effectively exploit the value of their existing assets and competencies to assure alignment between how value is being created in the short term and how activities are integrated and properly coordinated.
A)True
B)False
Q3) Because the modular form of organizing involves outsourcing vital functions,modular firms often forfeit full strategic control.
A)True
B)False
Q4) Global start-ups occur after a corporation has exhausted all other possibilities for domestic growth.
A)True
B)False
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Chapter 11: Strategic Leadership: Creating a Learning
Organization and an Ethical Organization
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139 Verified Questions
139 Flashcards
Source URL: https://quizplus.com/quiz/60599
Sample Questions
Q1) Leaders are not expected to accept personal responsibility for ethical behavior in an organization,because ethics is a matter of individual choice.
A)True
B)False
Q2) Three key interdependent strategic leadership activities are: designing the organization,determining its direction,and nurturing a culture dedicated to excellence and ethical behavior.
A)True
B)False
Q3) In the integrity-based approach to ethics management,the objective is to A) conform with externally imposed standards.
B) prevent criminal misconduct.
C) enable responsible conduct.
D) reduce discretion, training, controls, audits, and penalties.
Q4) In an integrity-based approach to ethics management,ethos is concerned with conformity with externally imposed standards.
A)True
B)False
Page 13
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Chapter 12: Managing Innovation and Fostering Corporate
Entrepreneurship
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121 Verified Questions
121 Flashcards
Source URL: https://quizplus.com/quiz/60598
Sample Questions
Q1) Innovations that extend sales in an existing market,usually by enabling new products or services to be sold at higher margins are known as _____________ innovations.
A) radical
B) disruptive
C) technology
D) sustaining
Q2) Innovation efforts of the firm rarely benefit from partnering with non-business entities such as universities and government agencies.
A)True
B)False
Q3) A disruptive innovation appeals to less demanding customers who are seeking more convenient,less expensive solutions.
A)True
B)False
Q4) A real estate option grants the holder the obligation to buy or sell a piece of property at an established price sometime in the future.
A)True
B)False
Page 14
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