Strategic Decision Making Test
Preparation
Course Introduction
Strategic Decision Making explores the frameworks, tools, and processes involved in making high-stakes decisions within complex and dynamic organizational environments. This course examines how leaders analyze information, assess risk, evaluate alternatives, and leverage both quantitative and qualitative data to navigate uncertainty and achieve organizational goals. Students will engage with case studies and simulations to practice problem-solving, understand cognitive biases, and apply decision analysis techniques, preparing them to contribute effectively to strategic planning and execution in various sectors.
Recommended Textbook
Strategic Management Text and Cases 8th Edition by Gregory Dess
Available Study Resources on Quizplus
12 Chapters
1724 Verified Questions
1724 Flashcards
Source URL: https://quizplus.com/study-set/3051 Page 2
Chapter 1: Strategic Management: Creating Competitive Advantages
Available Study Resources on Quizplus for this Chatper
174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/60609
Sample Questions
Q1) Corporate level strategy focuses on what businesses to compete in and
A) how business can be managed to achieve synergy.
B) how business can be managed to reduce synergy.
C) how the firm can work as a stand-alone entity.
D) how the firm can create more value by operating alone.
Answer: A
Q2) According to the text,the triple bottom line approach to corporate accounting includes which three components?
A) financial, environmental, and customer
B) financial, organizational, and customer
C) financial, environmental, and social
D) financial, organizational, and psychological
Answer: C
Q3) Strategic management requires managers at all levels of the organization to take a segregated view of the organization.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Analyzing the External Environment of the Firm:
Creating Competitive Advantages
Available Study Resources on Quizplus for this Chatper
173 Verified Questions
173 Flashcards
Source URL: https://quizplus.com/quiz/60608
Sample Questions
Q1) Competitor Intelligence (CI)is a tool that can provide management with early warnings about both threats and opportunities.
A)True
B)False
Answer: True
Q2) The more attractive the price/performance ratio of substitute products,the tighter it constrains the ability of an industry to charge high prices.
A)True
B)False
Answer: True
Q3) A major sociocultural trend in the United States is the increased educational attainment by women.
A)True
B)False
Answer: True
Q4) Scenario analysis is a form of environmental forecasting.
A)True
B)False
Answer: True
Page 4
To view all questions and flashcards with answers, click on the resource link above.
Chapter 3: Assessing the Internal Environment of the Firm
Available Study Resources on Quizplus for this Chatper
174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/60607
Sample Questions
Q1) Campbell Soup uses an electronic network to facilitate its continuous-replenishment program with its most progressive retailers.This is known as an operations primary activity in the value chain.
A)True
B)False Answer: False
Q2) Leverage ratios provide measures of the capacity of a firm to meet its long-term financial obligations.
A)True
B)False Answer: True
Q3) Value-chain analysis assumes that the basic economic purpose of a firm is to create value and it is a useful framework for analyzing the strengths and weaknesses of the firm.
A)True
B)False Answer: True
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Recognizing a Firms Intellectual Assets: Moving
Beyond a Firms Tangible Resources
Available Study Resources on Quizplus for this Chatper
174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/60606
Sample Questions
Q1) Technology can be used to leverage __________ and _____________ within organizations as well as with customers and suppliers beyond their boundaries.
A) human capital; intellectual capital
B) human capital; knowledge
C) knowledge; social capital
D) communication; social capital
Q2) Access Health,a call-in medical center,uses technology to capture and share knowledge.When someone calls the center,a registered nurse uses the company clinical decision architecture to assess the caller symptoms,rule out possible conditions,and recommend a home remedy,doctor visit,or trip to the emergency room.This is an example of using
A) tacit knowledge.
B) a knowledge asset.
C) a non-codified asset.
D) groupthink.
Q3) Examples of dynamic capabilities include product development,strategic decision making,alliances,and acquisitions.
A)True
B)False
6
To view all questions and flashcards with answers, click on the resource link above.
Chapter 5: Business-Level Strategy: Creating and Sustaining Competitive Advantages
Available Study Resources on Quizplus for this Chatper
163 Verified Questions
163 Flashcards
Source URL: https://quizplus.com/quiz/60605
Sample Questions
Q1) Too much focus on one or a few value-chain activities can be a pitfall of the overall cost leadership strategy.
A)True
B)False
Q2) By separating the value of the actual flight from the services associated with flying,airlines have greatly expanded the __________ associated with flying.
A) costs
B) services
C) profit pool
D) difficulties
Q3) During the growth stage of the market life cycle,customers are very likely to establish brand loyalty.
A)True
B)False
Q4) HSN CEO Mindy Grossman tailored the company offerings to meet the changing needs of her customer base in her quest to turnaround the company.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Corporate-Level Strategy: Creating Value Through Diversification
Available Study Resources on Quizplus for this Chatper
114 Verified Questions
114 Flashcards
Source URL: https://quizplus.com/quiz/60604
Sample Questions
Q1) Poison pills always are used to protect the best interests of management. A)True
B)False
Q2) Managerial behaviors that erode shareholder returns include egotism,antitakeover tactics and controlled growth.
A)True
B)False
Q3) Which of the following is not part of a good guideline list for managing strategic alliances?
A) establishing a clear understanding between partners
B) not shortchanging your partner
C) relying primarily on a contract to make the joint venture work
D) working hard to ensure a collaborative relationship between partners
Q4) The Cisco acquisition of Pure Digital Technologies,the parent of the Flip video camera,failed because
A) Cisco had valuable competencies.
B) the Flip division of Cisco was slow and less responsive to market pressures.
C) consumers continued to purchase the camera.
D) Cisco had good vision of the market.
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: International Strategy: Creating Value in Global Markets
Available Study Resources on Quizplus for this Chatper
140 Verified Questions
140 Flashcards
Source URL: https://quizplus.com/quiz/60603
Sample Questions
Q1) Arbitrage opportunities are simple trading opportunities and therefore account for little of the success Walmart experiences.
A)True
B)False
Q2) Regionalization is most important because it permits companies to organize their activities based upon
A) physical distance between the home country and the foreign country.
B) the extrinsic distance between the home country and the foreign country.
C) the true distance between the home country offer and the foreign country.
D) shareholder expectations.
Q3) Multinational companies,like GE,take advantage of globalization to tap into talent around the world in order to build products.
A)True
B)False
Q4) Exporting is an expensive way to enter foreign markets.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Entrepreneurial Strategy and Competitive Dynamics
Available Study Resources on Quizplus for this Chatper
115 Verified Questions
115 Flashcards
Source URL: https://quizplus.com/quiz/60602
Sample Questions
Q1) Developed in 1993,WorldWideWeb,later named Nexus,was the first web browser.It radically changed how users access information on the Internet.This is an example of a pioneering new entry strategy.
A)True
B)False
Q2) Which of the following is not one of the reasons a company might launch new competitive actions?
A) to obtain first mover advantages
B) to improve market position
C) to find new sources of raw materials
D) to capitalize on growing demand
Q3) Entrepreneurship refers to new value creation and can include activities in major corporations.
A)True
B)False
Q4) Venture capital funding for entrepreneurial ventures is usually available only after the start-up has become a going concern and established a track record.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Strategic Control and Corporate Governance
Available Study Resources on Quizplus for this Chatper
116 Verified Questions
116 Flashcards
Source URL: https://quizplus.com/quiz/60601
Sample Questions
Q1) In emerging economies and continental Europe,firms often can be characterized by all of the following except
A) concentrated ownership.
B) low family ownership and control.
C) business group structures.
D) weak legal protection for minority shareholders.
Q2) Shareholders rely on CEOs to adopt policies and strategies that maximize the value of their shares.To motivate CEOs to maximize the value of their companies,boards of directors can consider all of the following options except one.Which one is it?
A) Boards can require that the CEOs become substantial owners of company stock.
B) Salaries, bonuses, and stock options can be structures to provide rewards for superior performance.
C) Salaries can be structured to provide penalties for poor performance.
D) Dismissal for poor performance is not an option.
Q3) Sound governance practices always leads to superior financial performance.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
11
Chapter 10: Creating Effective Organizational Designs
Available Study Resources on Quizplus for this Chatper
121 Verified Questions
121 Flashcards
Source URL: https://quizplus.com/quiz/60600
Sample Questions
Q1) Strategic business unit (SBU)and holding company structures result from extensive A) diversification.
B) vertical integration.
C) international expansion.
D) organizational flattening.
Q2) Outsourcing in noncore functions of modular companies offers the advantage of decreased overall costs,but the company will be unable to focus on scarce resources in the areas where it holds competitive advantage.
A)True
B)False
Q3) Multidomestic strategies are driven by political and cultural imperatives requiring managers within each country to respond to local conditions.
A)True
B)False
Q4) A new,simple-structure firm concentrates efforts only on increasing efficiency without regard to its actual products.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Strategic Leadership: Creating a Learning
Organization and an Ethical Organization
Available Study Resources on Quizplus for this Chatper
139 Verified Questions
139 Flashcards
Source URL: https://quizplus.com/quiz/60599
Sample Questions
Q1) A strategic vision provides many benefits.Which of the following is not one of those benefits?
A) a clear future direction
B) a framework for their organization mission and goals
C) enhanced employee communication and commitment
D) diminished employee participation
Q2) Ethical crises are bad for organization reputation,but they rarely have any financial consequences.
A)True
B)False
Q3) The source of referent power is
A) subordinate identification with the leader.
B) leader identification with the subordinates.
C) derived from the fact that the manager can potentially act as a reference when the employee applies for another job.
D) derived from manager ability to provide effective incentives to employees.
Q4) Organizational ethics is the responsibility of top management only.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Managing Innovation and Fostering Corporate Entrepreneurship
Available Study Resources on Quizplus for this Chatper
121 Verified Questions
121 Flashcards
Source URL: https://quizplus.com/quiz/60598
Sample Questions
Q1) Corporate ventures that use real options logic in decision making tend to keep total investment low in order to minimize the downside risk of a project.
A)True
B)False
Q2) Which of the following is not characteristic of a disruptive innovation?
A) It is usually more sophisticated technologically.
B) It appeals to less demanding customers.
C) It is typically a less expensive solution for meeting a need.
D) It usually takes root in a new market or the low-end of an existing market.
Q3) Amazon was able to define the online bookselling market by entering the market early and defining the user experience.This is an example of
A) innovativeness.
B) proactiveness.
C) competitive aggressiveness.
D) autonomy.
Q4) Radical innovation often involves open-ended experimentation which can be very time consuming.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 14