Strategic Management
Exam Questions
Course Introduction
Strategic Management examines the formulation, implementation, and evaluation of strategies that enable organizations to achieve competitive advantage and long-term success. The course explores key concepts such as external and internal analysis, business-level and corporate strategies, competitive dynamics, and the impact of globalization. Students learn to analyze case studies, apply strategic frameworks, and make informed decisions that consider ethical, social, and environmental factors. By integrating theoretical knowledge with practical tools, the course prepares students to think critically and lead effectively in dynamic business environments.
Recommended Textbook
Strategic Management Text and Cases 9th Edition by Gregory Dess
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12 Chapters
1223 Verified Questions
1223 Flashcards
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Page 2
Chapter 1: Strategic Management: Creating Competitive Advantages
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106 Verified Questions
106 Flashcards
Source URL: https://quizplus.com/quiz/29766
Sample Questions
Q1) According to the text,the strategic management process entails three ongoing processes.They are
A)analyses,actions,and synthesis.
B)analyses,decisions,and actions.
C)analyses,evaluation,and critique.
D)analyses,synthesis,and decisions.
Answer: B
Q2) The vision of an organization is at the top level of its hierarchy of organizational goals.The vision statement should be massively inspiring,overarching,and long term.
A)True
B)False
Answer: True
Q3) All successful firms compete and outperform their rivals by developing bases for competitive advantage,which can be achieved only through cost leadership.
A)True
B)False
Answer: False
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Page 3
Chapter 2: Analyzing the External Environment of the Firm:
Creating Competitive Advantages
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114 Verified Questions
114 Flashcards
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Sample Questions
Q1) Although changes in the general environment may often adversely or favorably impact a firm,they seldom alter an entire industry.
A)True
B)False
Answer: False
Q2) Perceptual acuity,according to Ram Charan,is the ability to know for certain what will happen in the future.
A)True
B)False
Answer: False
Q3) Corporate retreats do not
A)permit companies to discuss larger marketplace trends.
B)guarantee positive consumer response to new products.
C)give companies an opportunity to look beyond their own industries.
D)oblige management to automatically change strategy.
Answer: B
Q4) In some industries,low switching costs can act as an important barrier to entry.
A)True
B)False
Answer: False
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Chapter 3: Assessing the Internal Environment of the Firm
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) A firm that takes on too much long-term debt to finance operations will see an immediate impact on its indicators of ________ financial leverage.
A)short-term
B)long-term
C)relative
D)comparable
Answer: B
Q2) Apple Inc.reported revenues of 234 billion USD and net income of 53 billion USD in 2015.These figures represent a stunning annual growth in revenue and net income of 28 percent and 33 percent,respectively,for 2014.This information indicates the importance of using ________ to evaluate company financial performance.
A)financial ratios
B)industry norms
C)historical comparisons
D)competitor analysis
Answer: C
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Chapter 4: Recognizing a Firms Intellectual Assets: Moving
Beyond a Firms Tangible Resources
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) Top executives can use email effectively for all of the following except A)updates on company strategy.
B)executive perspectives on key issues.
C)overview of the executive work for the month.
D)updates on corporate intelligence.
Q2) Technology can be used to leverage human capital and knowledge within organizations as well as with ________ and ________ beyond their boundaries.
A)employees;clients
B)customers;employees
C)customers;suppliers
D)employees;suppliers
Q3) In the knowledge economy,if a large portion of company value is in intellectual and human assets,the difference between the market value and book value of the company should ________ a company with mostly physical and financial assets.
A)be equal to
B)not be correlated with C)be smaller than D)be larger than
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Chapter 5: Business-Level Strategy: Creating and Sustaining Competitive Advantages
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) What is a focus strategy? Provide an example where this has been implemented successfully.
Q2) Atlas Door relies on technologies that are rather well known and non-proprietary.This opens it up to the potential of
A)imitation by rivals.
B)customer abandonment.
C)increased supplier power.
D)government regulation.
Q3) Outright sales or sale and leaseback free up considerable cash and improve returns.This is an example of which turnaround strategy used by successful companies?
A)asset and cost surgery
B)selective product and market pruning
C)piecemeal productivity improvements
D)global expansion
Q4) Piecemeal productivity improvements can be used by a mature business in need of a turnaround.
A)True
B)False
Page 7
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Chapter 6: Corporate-Level Strategy: Creating Value Through Diversification
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) Restructuring requires the corporate office to find either exceptionally performing firms with realized potential or firms in industries on the threshold of significant,negative change.
A)True
B)False
Q2) An acquisition that results in ________ commonly indicates that expectations were not met.
A)expansion
B)divestiture
C)cost savings
D)increased sales
Q3) Corporate-level strategy focuses on
A)gaining long-term revenue.
B)gaining short-term profits.
C)decreasing business locations.
D)managing investment bankers and their interests.
Q4) In recent years,many high-tech firms such as Priceline.com have suffered from the negative impact of uncontrolled growth.
A)True
B)False
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Chapter 7: International Strategy: Creating Value in Global Markets
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) In Euromoney's 2017 semi-annual "Country Risk Rating" evaluating political,economic,and other risks that entrants to international markets potentially face,which of the following countries have the next to the highest country financial system risk?
A)South Africa and Canada
B)Singapore and China
C)Argentina and Bahrain
D)Kazakhstan and Russia
Q2) In Euromoney magazine's 2017 semi-annual "Country Risk Rating" evaluating political,economic,and other risks that entrants to international markets potentially face,which of the following countries have the next to the highest country economic risk?
A)South Africa and Russia
B)Singapore and China
C)Argentina and Bahrain
D)Kazakhstan and Colombia
Q3) The factor endowments of a country are inherited and cannot be created.
A)True
B)False
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Chapter 8: Entrepreneurial Strategy and Competitive Dynamics
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94 Verified Questions
94 Flashcards
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Sample Questions
Q1) Entrepreneurial new entry is often perceived as a competitive threat to incumbent firms because most market needs are being met,either directly or indirectly,by existing firms.
A)True
B)False
Q2) Which of the following refers to a situation where a company has a high concentration of its business in a particular industry market?
A)competitor resources
B)resource similarity
C)market dependence
D)actor reputation
Q3) When any two firms have both a high degree of market commonality and highly similar resources,a ________ threat is present.
A)weaker competitive
B)successful marketing
C)stronger competitive
D)stronger marketing
Q4) The likelihood that a competitor will launch an attack depends upon many factors.Discuss threat analysis and how it is used.
10
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Chapter 9: Strategic Control and Corporate Governance
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) In order to have effective board operations,firms need to cultivate engaged and committed boards.
A)True
B)False
Q2) If a board of directors is to be effective,it needs to allocate its scarce time to the ________ issues to which its members can add ________.
A)most clear;capital
B)most critical;value
C)newest;information
D)hardest;time
Q3) Research has shown that executives who have large holdings of stock in their firm are more likely to have diversification strategies more consistent with shareholder interests,like increasing long-term returns.
A)True
B)False
Q4) Effectively implementing strategy requires manipulating three key control levers: culture,rewards,and boundaries.What are the compelling reasons for an increased emphasis on culture and rewards in a system of behavior controls?
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11
Chapter 10: Creating Effective Organizational Designs
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86 Verified Questions
86 Flashcards
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Sample Questions
Q1) What is organizational structure and why is it important?
Q2) Tools and techniques used to achieve effective coordination and integration of key activities in an organization include all the following except
A)horizontal organization structures.
B)common culture and shared values.
C)horizontal diversification.
D)communications and information technologies.
Q3) Jack Welch,former CEO of GE,believes that all internal and external organizational boundaries should vanish completely.
A)True
B)False
Q4) In large organizations,a strategy of diversification requires a need to reorganize around ________ or ________.
A)product lines;geographic markets
B)product lines;competition
C)competitor lines;geographic markets
D)distribution lines;competitor markets
Q5) Discuss the advantages and disadvantages of a simple organizational structure.
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Chapter 11: Strategic Leadership: Creating a Learning
Organization and an Ethical Organization
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) Which of the following is not a characteristic of a successful learning organization?
A)It creates a proactive,creative approach to the unknown.
B)It empowers employees at all levels.
C)It regularly engages in activities to reinforce the status quo.
D)It gathers and integrates external information.
Q2) The central key to empowerment is effective leadership.Leading-edge organizations recognize the need for ________,________,and ________ at all levels instead of the extensive and cumbersome rules and regulations inherent in hierarchical control.
A)trust;cultural control;expertise
B)training;finances;expertise
C)respect;finances;trust
D)control,order,finances
Q3) If leaders do not believe in the ethical standards that they are trying to inspire,they will not be effective as good role models.
A)True
B)False
Q4) What are the five key elements of a learning organization and why are they important?
Page 13
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Chapter 12: Managing Innovation and Fostering Corporate
Entrepreneurship
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93 Verified Questions
93 Flashcards
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Sample Questions
Q1) Business risk taking refers to the risk associated with entering untested markets or committing to unproven technologies.
A)True
B)False
Q2) Which of the following statements about skunkworks is false?
A)They are independent work groups.
B)They are autonomous.
C)They refer to a specialized type of outside contractor that corporations use to develop entrepreneurial ideas.
D)They are used to leverage existing strengths in new arenas to identify new opportunities.
Q3) What is the difference between product innovation and process innovation? How is each used?
Q4) According to the text,________,which support fledgling startups are often used to pursue specific entrepreneurial ventures developed by ________.
A)collaboration partners;strategic partners
B)business incubators;new venture groups
C)product champions;corporate venture capitalists
D)lower-level managers;upper-level managers
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