Strategic Management
Exam Questions
Course Introduction
Strategic Management is a comprehensive course designed to introduce students to the fundamental principles and practices of formulating, implementing, and evaluating strategies that enable organizations to achieve their long-term objectives and gain a competitive advantage. Through the analysis of real-world case studies and application of strategic management frameworks, students will learn how to assess internal and external environments, make informed strategic decisions, and respond to dynamic business challenges. The course emphasizes critical thinking, ethical considerations, and the integration of functional areas of business to develop actionable strategies for organizational success.
Recommended Textbook Management 13th Edition by
John R. Schermerhorn
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18 Chapters
2067 Verified Questions
2067 Flashcards
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Page 2
Chapter 1: Introducing Management
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Sample Questions
Q1) Which of the following is a controversial outcome closely associated with globalization?
A) Groupthink
B) Functional chimneys problem
C) Job migration
D) National barriers
E) Debt financing
Answer: C
Q2) Tech IQ is the ability to use technology and commitment to stay informed about the latest technological developments.
A)True
B)False
Answer: True
Q3) Middle managers are in charge of overseeing the overall operations of an organization.
A)True
B)False
Answer: False
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Page 3
Chapter 2: Management Learning Past to Present
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Sample Questions
Q1) Who is known as the father of scientific management?
A) Henri Fayol
B) Frederick Taylor
C) Max Weber
D) Douglas McGregor
E) Abraham Maslow
Answer: B
Q2) _____ tries to match managerial responses with problems and opportunities specific to different people and settings.
A) Total quality management
B) Knowledge management
C) Evidence-based management
D) Contingency thinking
E) Quantitative analysis
Answer: D
Q3) Henri Fayol believed that management could be taught.
A)True
B)False
Answer: True
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Page 4
Chapter 3: Ethics and Social Responsibility
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Sample Questions
Q1) The _____ view of ethical understanding and reasoning abilities considers ethical behavior to be that which delivers the greatest good to the greatest number of people.
A) individualism
B) religious
C) justice
D) utilitarian
E) moral rights
Answer: D
Q2) Among the terminal values held important by managers are honesty,ambition,imagination,and self-discipline.
A)True
B)False
Answer: False
Q3) Cultural view is based on the belief that ethical decisions treat people impartially and fairly,according to legal rules and standards.
A)True
B)False
Answer: False
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Chapter 4: Environment, innovation, and Sustainability
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Sample Questions
Q1) The Oomph Factor,an online retail firm,owns a patented technology that ensures that its goods and services reach customers on time.The firm also has the ability to develop timely new products.The firm has gained competitive advantage through _____.
A) quality
B) costs
C) flexibility
D) delivery
E) adaptability
Q2) Rhapsody Inc.created a new line of cameras that work on solar energy.These solar cameras reduced the demand for digital cameras and gradually replaced the use of digital cameras and ended competition.Which of the following is prominent in this instance?
A) Positioning innovation
B) Incremental change
C) Process improvement
D) Disruptive innovation
E) Process innovation
Q3) What are the dimensions of environmental uncertainty?
Q4) What are the three types of innovation? What do they result in?
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Chapter 5: Global Management and Cultural Diversity
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Sample Questions
Q1) _____ is the study of how people use space to communicate.
A) Proxemics
B) Kinesics
C) Haptics
D) Chronemics
E) Vocalics
Q2) Cultures where it is possible to begin making business deals only after social relationships are established are referred to as _____ cultures.
A) ethnocentric
B) high-context
C) xenocentric
D) polychronic
E) popular
Q3) Knowledge about foreign cultures is known as cultural intelligence.
A)True
B)False
Q4) Tariffs are basically taxes that governments impose on imports.
A)True
B)False
Q5) Define culture.Explain the importance of cultural intelligence.
Page 7
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Chapter 6: Entrepreneurship and New Ventures
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Sample Questions
Q1) Classic entrepreneurs are risk-taking individuals who take action to pursue opportunities others fail to recognize,or even view as problems or threats.
A)True
B)False
Q2) Toby and William are both general managers at Alton & Sons,their father's business.After a heart attack,their father decides to retire.He is faced with the challenge of choosing between one of his two equally capable sons to replace him in the business.Which type of problem related to family businesses is the father facing?
A) Family business integration
B) Succession problem
C) Family disagreement
D) Role confusion
E) Family business feud
Q3) What is a corporation? What advantages does a corporate form offer?
Q4) Lean startups are permanent,cost-intensive organizations. A)True B)False
Q5) Describe equity financing.
Q6) Write a short note on business partnerships.
Page 8
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Chapter 7: Information and Decision Making
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Sample Questions
Q1) _____ is failure to involve in a decision the persons whose support is needed to implement it.
A) Framing error
B) Lack-of-participation error
C) Bounded rationality
D) Confirmation error
E) Strategic opportunism
Q2) A(n)_____ environment lacks so much information that it is difficult to assign probabilities to the likely outcomes of alternatives.
A) anticipated
B) risk
C) certain
D) threat
E) uncertain
Q3) _____ is the continuation of a course of action even though it is not working.
A) Confirmation error
B) Escalating commitment
C) Lack-of-participation error
D) Framing error
E) Strategic opportunism
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Chapter 8: Planning Processes and Techniques
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Sample Questions
Q1) Procedures set broad guidelines for decisions.
A)True
B)False
Q2) Functional plans dealing with money and capital investments are called _____ plans.
A) marketing
B) logistics
C) financial
D) human resource
E) facilities
Q3) Silver Finance requires that its interest rate planning process include its employees,managers,some customers,and others who will be affected by the resulting plans and/or will be asked to help implement them.Silver Finance is utilizing _____.
A) contingency planning
B) scenario planning
C) management by objectives
D) participatory planning
E) benchmarking
Q4) What are the five characteristics that great goals tend to have?
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Chapter 9: Control Processes and Systems
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Sample Questions
Q1) After establishing standards of performance,which of the following is the next step in the control process?
A) Identifying the key results
B) Comparing results with standards
C) Comparing results with objectives
D) Implementing management by exception
E) Measuring the actual performance
Q2) Calculate owner's equity from the following information: Expenses $700,000
Return on equity 40%
Total Assets $2,050,000
Sales $1,500,000
A) $2,000,000
B) $800,000
C) $375,000
D) $1,250,000
E) $820,000
Q3) Inventory turnover is calculated as Sales/Total Assets.
A)True
B)False
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Chapter 10: Strategy and Strategic Management
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Sample Questions
Q1) It is advisable to combine a cost leadership strategy with a differentiation strategy to get better results.
A)True
B)False
Q2) _____ is the predominant value system for the enterprise as a whole.
A) Organizational culture
B) Corporate subculture
C) Managerial value system
D) Functional culture
E) Leadership value system
Q3) Which of the following is a defining characteristic of a focused cost leadership?
A) It offers a regular product to a common market segment.
B) It seeks the lowest costs of operations within a special market segment.
C) It analyzes business opportunities according to market growth rate.
D) It focuses on substantial penetration of expanding markets.
E) It involves decreasing the size of operations.
Q4) Core values are broad beliefs about what is or is not appropriate behavior.
A)True
B)False
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Chapter 11: Organization Structures and Design
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Sample Questions
Q1) Which of the following is true with regard to centralization and decentralization?
A) Organizations cannot operate with decentralization without giving up centralized control.
B) Advances in information technology help top managers maintain centralized control.
C) Empowerment and horizontal structures are contributing to more centralization in organizations.
D) Organizations with organic designs are highly centralized.
E) Organizations with mechanistic designs are highly decentralized.
Q2) Which of the following emphasizes formal authority,order,fairness,and efficiency?
A) Bureaucracy
B) Boundaryless organization
C) Decentralization
D) Strategic business unit
E) Strategic alliance
Q3) Project teams are permanent in nature and cannot be disbanded.
A)True
B)False
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Chapter 12: Organization Culture and Change
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Sample Questions
Q1) In the context of change leadership,innovation is embraced by status quo managers.
A)True
B)False
Q2) Darelen Inc.has majority of workers from Spanish communities and a minority of workers from the Finnish community.The policies and values of the company are directly influenced by both cultures.In the context of characteristics of multicultural organizations,this is an example of _____.
A) network integration
B) structural diversity
C) pluralism
D) nepotism
E) ethnocentrism
Q3) Which of the following scenarios is an example of the observable culture of an organization?
A) The prohibition of the use of camera phones in the office premises
B) The hostility toward whistleblowers
C) The rewarding of a team's achievement by conducting a team outing
D) The emphasis on deadlines
E) The encouragement of innovation
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Page 14
Chapter 13: Human Resource Management
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Sample
Questions
Q1) In a face-to-face interview with a manager,a candidate is asked how he would dismiss a group of employees during a lay-off if he was the HR manager.This would be an example of a(n)_____ interview.
A) situational
B) cognitive
C) psychiatric
D) technical
E) informal
Q2) _____ protects employees by recognizing their right to join unions and engage in union activities.
A) The Sarbanes-Oxley Act of 2002
B) The Glass-Steagall Act of 1933
C) The Civil Service Reform Act of 1978
D) The Wagner Act of 1935
E) The Taft-Hartley Act of 1947
Q3) The critical-incident technique is a behavior-based approach that can reduce the influence of recency bias on evaluations.
A)True
B)False
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Page 15
Chapter 14: Leading and Leadership Development
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Sample Questions
Q1) When a leader practices an autocratic style of leadership,he or she:
A) shows little concern for a task.
B) emphasizes people over tasks.
C) acts in a command-and-control fashion.
D) lets team members make decisions.
E) acts with a "do the best you can and don't bother me" attitude.
Q2) The pathway to transformational leadership starts with _____.
A) discharging any decision-making powers that a leader could have B) promising monetary incentive to incite interest in followers
C) a leader adopting a unilateral and command-and-control style of leading D) a willingness to bring real emotion to the leader-follower relationship
E) using coercive measures to influence the behavior of followers
Q3) A laissez-faire leader emphasizes both tasks and people.
A)True
B)False
Q4) According to Peter Drucker,effective leadership is primarily based on being clever and not on being consistent.
A)True
B)False
Q5) Define vision and explain the concept of visionary leadership.
Page 16
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Chapter 15: Individual Behavior
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Sample Questions
Q1) Moods tend to be short term and clearly targeted.
A)True
B)False
Q2) Which of the following refers to attribution?
A) It is the set of individual expectations about an employment relationship.
B) It is the process of explaining events.
C) It is the process through which people receive, organize, and interpret information from the environment.
D) It is the tendency to define problems from one's own point of view.
E) It is the assignment of personal attributes to other individuals.
Q3) Which of the following is true of authoritarianism?
A) Authoritarianism is a system that opposes status differences.
B) An individual with an authoritarian personality tends to act rigidly and be control-oriented in a follower capacity.
C) An individual with an authoritarian personality is likely to be subservient and follow rules when in a leadership capacity.
D) People with authoritarian principles never act unethically or illegally.
E) Authoritarianism is the degree to which a person defers to authority and accepts interpersonal status differences.
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Page 17
Chapter 16: Motivation Theory and Practice
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Sample Questions
Q1) David had put extra hours into the project and had made sure that all glitches were taken care of.His manager acknowledged his effort and recommended him to be a part of the reconnaissance team visiting China.David was very happy and assured his manager that he'd put in extra effort in the future.Which of the following does this situation exemplify?
A) Law of effect
B) Under-reward inequity
C) Deficit principle
D) Progression principle
E) ERG theory
Q2) Job _____ increases job depth by adding work planning and evaluating duties normally performed by the supervisor.
A) rotation
B) simplification
C) enrichment
D) sharing
E) enlargement
Q3) Job rotation makes jobs vertically bigger by expanding the job depth.
A)True
B)False
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Chapter 17: Teams and Teamwork
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Sample Questions
Q1) Increasing membership homogeneity in a team increases team cohesiveness.
A)True
B)False
Q2) Persons in a highly cohesive team are less likely to conform to the norms.
A)True
B)False
Q3) In the _____ way of decision making,full discussion leads to one alternative being favored by most members,and the other members agree to support it.
A) decision by lack of response
B) decision by authority rule
C) decision by minority rule
D) decision by consensus
E) decision by unanimity
Q4) The best teams use centralized communication network at all times.
A)True
B)False
Q5) Formal groups emerge from relationships and shared interests among the members.
A)True
B)False
Q6) What are the advantages and disadvantages associated with team work?
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Chapter 18: Communication and Collaboration
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Sample Questions
Q1) Describe the different sources of noise that interfere with the effectiveness of the communication process.
Q2) _____ is the intentional distortion of information to make it appear most favorable to the recipient.
A) Communication breakdown
B) Information filtering
C) Persuasive communication
D) Exaggerated communication
E) Noise
Q3) What is the structural solution to managing conflict when people just can't seem to appreciate one another's points of view?
A) Appealing to higher-level goals
B) Making more resources available to everyone
C) Altering the physical environment
D) Changing reward systems
E) Using integrating devices
Q4) Emails can be used as documentation for conveying directives.
A)True
B)False
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