Strategic Management Exam Solutions
Course Introduction
Strategic Management is a comprehensive course that explores the formulation, implementation, and evaluation of organizational strategies to achieve long-term objectives and maintain a competitive edge in dynamic environments. Students will learn to analyze internal and external factors affecting organizations, apply strategic frameworks, understand the role of leadership in strategy development, and assess strategies using real-world case studies. By the end of the course, students will develop the ability to think critically and strategically, make informed business decisions, and craft effective strategies that drive sustainable growth and success.
Recommended Textbook Management 12th Edition by Ricky
W. Griffin
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20 Chapters
3844 Verified Questions
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Page 2
Chapter 1: Managing and the Managers Job
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200 Verified Questions
200 Flashcards
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Sample Questions
Q1) Washing dishes,waiting tables,and maintenance are examples of ____________________ skills.
Answer: technical
Q2) ____________________ managers deal primarily with activities such as accounting,cash management,and investments.
Answer: Financial
Q3) ____ skills enable a manager to visualize the most appropriate response to a situation.
A) operational
B) knowledge
C) conceptual
D) technical
E) diagnostic
Answer: E
Q4) Top managers make up the relatively ____________________ group of executives who manage the overall organization.
Answer: small
Q5) Choosing a course of action from alternatives is ____________________.
Answer: decision making
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Chapter 2: Traditional and Contemporary Opportunities and Challenges
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158 Verified Questions
158 Flashcards
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Sample Questions
Q1) The North Korean government is attempting to isolate citizens from outside influence.It is trying to create a closed system.
A)True
B)False
Answer: True
Q2) Operations management is concerned with
A) the application of various processes and systems used by an organization.
B) systems created to store and provide information for managerial decision making.
C) the scientific analysis of the work elements of a job.
D) the development of mathematical and statistical tools and techniques for managerial decision making.
E) None of these choices
Answer: A
Q3) When compared to management science,operations management is focused more on applications.
A)True
B)False
Answer: True
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Chapter 3: Understanding the Organizations Environment
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221 Verified Questions
221 Flashcards
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Sample Questions
Q1) The extent to which an organization is affected by or involved in businesses in other countries refers to its
A) political-legal dimension.
B) economic environment.
C) international dimension.
D) sociocultural dimension.
E) general environment.
Answer: C
Q2) In 2013,______ percent of adult women in the United States worked outside the home.
A) 10
B) 57
C) 80
D) 92
E) 27
Answer: B
Q3) The customs,mores,values,and demographic characteristics of the society in which the organization functions comprise the ____________________ dimension.
Answer: sociocultural
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Page 5
Chapter 4: Responding to the Ethical and Social Environment
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168 Verified Questions
168 Flashcards
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Sample Questions
Q1) Abbott Laboratories committed more than $6.5 million to partner with Partners In Health to address malnutrition in Haiti.This is an example of
Q2) Which of the following is a basic area of government regulation of business?
A) Consumer protection
B) Safety and health of employees
C) Safety and health of consumers
D) Environmental protection
E) All of these choices
Q3) Taxes on corporations are a form of ____________________ regulation.
Q4) Creditors
A)Ethical compliance
B)Organizational constituent
C)Whistle-blowing
D)Ethics
Q5) Why should an organization contribute to socially responsible programs?
Q6) When a company does a social audit,what does it need to review?
Q8) Describe the three emerging ethical issues in business today. Page 6
Q7) A(n)____________________ is a formal and thorough analysis of the effectiveness of a firm's social performance
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Page 7
Chapter 5: Navigating the Global Environment
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188 Verified Questions
188 Flashcards
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Sample Questions
Q1) ____ strategy is considered the highest level of involvement in international business.
A) Importing/exporting
B) Licensing
C) Joint venture/strategic alliance
D) Franchising
E) Direct investment
Q2) Two U.S.companies Cargill and Archer Daniels Midland purchase 25% of the world cocoa supply from farmers in West Africa.These companies use
A) importing.
B) direct investment.
C) global sourcing.
D) exporting.
E) joint venture.
Q3) What challenges does a manager face in a global economy that she would not face in a domestic one?
Q4) An advantage of ____________________ operations is that it is easier to enter markets with a small outlay of capital.
Q5) The quickest way to enter most new markets is through
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Chapter 6: Basic Elements of Planning and Decision Making
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186 Verified Questions
186 Flashcards
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Sample Questions
Q1) Which of the following is an example of an intermediate-range plan?
A) Develop an alcohol-powered small engine in the next ten years
B) Investigate FDA claims that nutrition labels on juice bottle are misleading
C) Conduct a Fourth of July sale
D) Sponsor a community wellness day next month
E) Reduce employee absenteeism by 20 percent within the next two years
Q2) CVS has more than 600 pharmacies with Minute Clinics,which are staffed with physician assistants.Carving space out of an existing floor plan to create a new clinic takes less than a year.These are ____ plans.
A) strategic
B) short-range
C) long-range
D) contingency
E) integrated
Q3) A single-use plan for a large set of activities is called a
A) project.
B) policy.
C) standard operating procedure.
D) rule.
E) program.
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Chapter 7: Managing Strategy and Strategic Planning
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204 Verified Questions
204 Flashcards
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Sample Questions
Q1) Kraft Food Inc offered to buy Cadbury,a confection and beverage company.Which advantage of related diversification could result from the merging of these two businesses?
A) Reducing overhead
B) Creating a distinctive competence
C) Innovation
D) Synergy
E) Reducing business dependence
Q2) Range of markets in which the organization will compete
A)Distinctive competence
B)Resource deployment
C)Scope
D)Strategic management
E)Synergy
Q3) There are three types of diversification strategies: single-product strategy,related diversification,and unrelated diversification.
A)True
B)False
Q4) Developing a(n)____________________ strategy is far more complex than developing a domestic one.
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Chapter 8: Managing Decision Making and Problem Solving
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Sample Questions
Q1) Selecting the first alternative that meets some minimum sufficiency standard
A)Administrative model
B)Bounded rationality
C)Satisficing
Q2) Which of the following decision-making models is a prescriptive model?
A) Behavioral
B) Classical
C) Administrative
D) Bureaucratic
E) Probabilistic
Q3) Everyone loved Steve's idea when he first suggested it.Upon further evaluation some challenges arose,but Steve was convinced he could make it work.When another alternative was introduced Steve clung to his approach,convinced it was the best.Steve experienced a(n)____________________.
Q4) Behavioral aspects of decisions include political forces,intuition,escalation of commitment,risk and ____________________.
Q5) Some experts have estimated that U.S.companies use ____________________ decision-making techniques less than 20 percent of the time.
Q6) ____________________ are the most common form of decision-making group.
Page 11
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Chapter 9: Managing Start-Ups and New Ventures
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139 Flashcards
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Sample Questions
Q1) Briefly describe industries in which small businesses seem to be most effective and why this seems to be the case.In what area are small businesses least successful in comparison to large businesses?
Q2) A first-mover enters a segment of a market that offers a new opportunity because it is not currently being satisfied.
A)True
B)False
Q3) ____________________ businesses provide ____________________ businesses with many of the services,supplies,and raw materials they need.
Q4) In which of the following ventures would a small business operator be most effective?
A) Construction
B) Transportation
C) Services
D) Manufacturing
E) Wholesale
Q5) Describe the four major types of information presented in a business plan.
Q6) Describe the role of entrepreneurship in society.
Q7) Describe the entrepreneurship process.
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Chapter 10: Basic Elements of Organizing
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205 Flashcards
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Sample Questions
Q1) Teachers at South Elementary School are allowed to pair up and teach a class twice as large as others.This allows the teachers to specialize in the subjects they most enjoy.The team teachers now share control over the classroom.The team teaching decreases
A) autonomy.
B) compensation.
C) task significance.
D) feedback.
E) task identity.
Q2) Skill variety is the ____________________ of things a person does in a job.
Q3) Positions that are in the direct chain of command and are responsible for achievement of organizational goals are called ____________________ positions.
Q4) Target stores have departments for groceries,clothing,electronics,jewelry,and home goods.This is an example of departmentalization by A) product.
B) location.
C) division.
D) sequence.
E) customer.
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Chapter 11: Managing Organization Design
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177 Verified Questions
177 Flashcards
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Sample Questions
Q1) Bully Hill is a New York wine maker.It uses ____________________ technology to transform investment grapes into wine.
Q2) Distinct divisions of labor
A)Girl Scouts USA only
B)Lav
C)Both organizations
D)Neither organization
E)com only
Q3) Which of the following is NOT a process characterized by Likert?
A) Leadership
B) Decision making
C) Planning
D) Controlling
E) Communication
Q4) The best-known and most important behavioral approach to organization design is A) Weber's bureaucracy.
B) the divisional form.
C) Woodward's simple structure.
D) Likert's System 4.
E) the linking pin approach.
Page 14
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Chapter 12: Managing Change and Innovation
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179 Verified Questions
179 Flashcards
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Sample Questions
Q1) I won't see José at work anymore
A)Different perceptions
B)Uncertainty
C)Participation
D)Facilitation
E)Feelings of loss
F)Threatened self-interest
G)Education
H)Force-field analysis
Q2) Which of the following exemplifies a people change that would result in an organization change?
A) New CEO
B) Job redesign
C) Financial partnerships
D) Change in reporting relationships
E) Change from standard assembly line to autonomous work groups
Q3) Changing the enterprise resource planning system is an example of using organization structure and design as an organization change agent.
A)True
B)False
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Chapter 13: Managing Human Resources
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203 Verified Questions
203 Flashcards
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Sample Questions
Q1) A major challenge of managing ____________________ workers is that they soon leave to accept sign-on bonuses with competitors.
Q2) In Michigan,union membership of home healthcare workers dropped by 80% after declassifying them as public employees,thereby no longer requiring them to be in a union and pay dues.
A)Benefits SEIU
B)Benefits workers
C)Benefits both SEIU and workers
D)Benefits neither SEIU or workers
Q3) Describe an example of a company or industry where human resource capital is very important and one where it is not so important.
Q4) A(n)____________________ is usually computerized and contains information on each employee's education,skills,work experience,and career aspirations.
Q5) Describe how unions are formed.
Q6) Briefly define and describe human resource management.Include trends over the past 20 to 25 years and some of the reasons for those trends.
Q7) The ____________________ decision is made through job evaluation.
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Chapter 14: Basic Elements of Individual and Interpersonal Behavior
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210 Verified Questions
210 Flashcards
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Sample Questions
Q1) People with Type B personalities are driven to succeed.
A)True
B)False
Q2) If you are proud of your accomplishments yet look forward to achieving higher levels of performance and are confident in your abilities,you have high A) conformity.
B) risk propensity.
C) self-monitoring.
D) locus of control.
E) self-esteem.
Q3) The lighting in a room can cause stress.
A)True
B)False
Q4) ____________________ is the extent to which the contributions made by the individual match the inducements offered by the organization.
Q5) What personality attributes do you want your boss to have? How will that effect the organization?
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Q6) People with the MBTI ____________________ like task identity.
Q7) Fully explain the attribution process and how it is related to perception.
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Chapter 15: Managing Employee Motivation and Performance
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198 Verified Questions
198 Flashcards
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Sample Questions
Q1) ____________________ reward systems are one of the most fundamental forms of performance-based rewards.
Q2) Raj sells office-management software to people in the medical profession.His sales manager has advised Raj that one of his goals this year should be to increase the time he spends on after-the-sale service.Once Raj has sold the software,the customer buys upgrades from the manufacturer and will never again buy from Raj.Raj sees after-the-sale service as time that could better spent selling to other customers.In terms of the goal-setting theory,the likelihood that Raj will achieve his sales manager's goal is low due to a lack of goal
A) consistency and uniformity.
B) congruity and consistency.
C) acceptance and commitment.
D) difficulty and acceptance.
E) conformity and flexibility.
Q3) Goal-setting theory can be used to implement both expectancy and equity theory concepts.
A)True
B)False
Q4) Krishna works four,ten hour days.She works a(n)____________________.
Page 18
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Chapter 16: Managing Leadership and Influence Processes
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204 Verified Questions
204 Flashcards
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Sample Questions
Q1) According to the Michigan studies,managers may be job-centered
A) or employee-centered,but not both simultaneously.
B) and employee-centered simultaneously.
C) and have a high LPC score.
D) if they also practice supportive leadership.
E) if they adopt an autocratic decision style.
Q2) Preliminary research supports the concept of charismatic leadership.
A)True
B)False
Q3) The group makes the decision in all but one of the decision styles used in the Vroom-Yetton-Jago model.
A)True
B)False
Q4) Force compliance
A)Reward power
B)Referent power
C)Legitimate power
D)Expert power
E)Coercive power
F)Leadership power
Page 19
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Chapter 17: Managing Interpersonal Relations and Communication
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186 Verified Questions
186 Flashcards
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Sample Questions
Q1) A work team composed of various functional managers would tend to encourage A) horizontal communication.
B) professional jargon.
C) downward communication.
D) effective communication.
E) a managerial grapevine.
Q2) Sam wants to get rid of the grapevine in the unit he manages because it seems to be spreading information about what a poor job he is doing.He wants to identify the key people involved and arrange for them to be transferred.Will he succeed? Why or why not?
Q3) Which of the following statements about communication and the manager's job is TRUE?
A) Communication is a part of almost all managerial activities.
B) The planning function requires little communication.
C) Communication is the only thing that holds an organization together.
D) Thanks to electronics,the role of communication is less important now than it was ten years ago.
E) Communication is so complex that managers need not try to understand the process.
Q4) Describe five types of communication networks used in work teams.
Page 20
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Chapter 18: Managing Work Groups and Teams
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210 Flashcards
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Sample Questions
Q1) The instructor created a task group.
A)True
B)False
Q2) At what stage of group development might group members regress to the previous stage of group development?
A) Norming
B) Storming
C) Forming
D) Performing
E) Conforming
Q3) Which of the following is a conflict resolution technique that requires a reasonable degree of maturity and uses a direct approach of addressing the conflict and working together to resolve it?
A) Smoothing
B) Cooperation
C) Compromise
D) Interpersonal problem solving
E) Diplomacy
Q4) Describe two groups you belong to.Why did you join them?
Q5) Describe a situation in your life when conflict had a positive outcome.
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Chapter 19: Basic Elements of Control
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219 Flashcards
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Sample Questions
Q1) ____________________ are intended to serve as frameworks,but managers sometimes fail to recognize that changing circumstances may warrant adjustments.
Q2) Organizational control is
A) the regulation of management activities to increase leadership.
B) the regulation of organizational activities to facilitate goal attainment.
C) the system that monitors and manages via a self-regulating mechanism.
D) a mechanism for maintaining the status quo.
E) a device for determining where the organization should be at some future time.
Q3) Sales budget
A)Financial
B)Operations
C)Nonmonetary
Q4) Which of the following is NOT a major form of operations control discussed in the text?
A) Preliminary
B) Screening
C) Postaction
D) Functional
E) None of these choices
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Chapter 20: Managing Operations, quality, and Productivity
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Sample Questions
Q1) Define productivity.List and briefly describe the various levels of productivity.
Q2) ____ is the process of managing operations control,resource acquisition and purchasing,and inventory to thus improve overall efficiency and effectiveness.
A) Supply-chain management
B) Resource management
C) Inventory management
D) Quality control
E) Productivity control
Q3) ____________________ has a direct impact on competitiveness,quality,and productivity.
Q4) The capacity decision is truly a low-risk one because of the certainties of future product demand.
A)True
B)False
Q5) The big move to automate factories began during the Persian Gulf War. A)True
B)False
Q6) The productivity of a country is the ____________________ productivity.
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