Strategic Management for Managers
Solved Exam Questions
Course Introduction
Strategic Management for Managers offers an in-depth exploration of the frameworks and tools essential for developing, implementing, and evaluating business strategies in dynamic environments. The course emphasizes the analysis of internal and external factors affecting organizational performance, including market competition, resources, leadership, and global trends. Students will learn to formulate strategic plans, make informed decisions, and assess their impact on organizational goals. Through case studies, real-world scenarios, and interactive discussions, the course equips future and current managers with the skills needed to drive sustainable competitive advantage and manage change effectively within their organizations.
Recommended Textbook
Strategic Management Creating Competitive Advantages 9th Edition by Gregory G Dess Dr
Available Study Resources on Quizplus
12 Chapters
1223 Verified Questions
1223 Flashcards
Source URL: https://quizplus.com/study-set/423 Page 2
Chapter 1: Strategic Management: Creating Competitive Advantages
Available Study Resources on Quizplus for this Chatper
106 Verified Questions
106 Flashcards
Source URL: https://quizplus.com/quiz/7454
Sample Questions
Q1) Entering foreign markets requires firms to ascertain foremost how they will attain A) market share.
B) low costs.
C) competitive advantage.
D) low returns on investment.
Answer: C
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 acting on new business ideas.
A)True
B)False
Answer: True
Q3) Social responsibility is the idea that organizations are only accountable to stockholders.
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
114 Verified Questions
114 Flashcards
Source URL: https://quizplus.com/quiz/7455
Sample Questions
Q1) Which of the following websites is not an example of one used routinely for corporate competitive intelligence gathering?
A) Slideshare
B) Quora
C) Duolingo
D) YouTube Answer: C
Q2) The Porter five-forces model is designed to help us understand how social attitudes and cultural values impact U.S.businesses.
A)True
B)False
Answer: False
Q3) Strategic groups are clusters of firms that share ________ strategies.
A) differing
B) the same
C) similar
D) new Answer: C
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Assessing the Internal Environment of the Firm
Available Study Resources on Quizplus for this Chatper
109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/7456
Sample Questions
Q1) Campbell Soup uses electronic networks to improve the efficiency of outbound logistics.This is an example of relationships among activities within the firm and with other stakeholders that are part of the company expanded value chain.
A)True
B)False
Answer: True
Q2) In a telephone operating company,negotiating and maintaining ongoing relations with regulatory bodies can be among the most important activities for competitive advantage.What type of value-chain support activity is this?
A) service
B) technology development
C) human resource management
D) general administration
Answer: D
Q3) Human resources and reputation resources are examples of intangible resources.
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 Firm's Intellectual Assets: Moving
Beyond a Firm's Tangible Resources
Available Study Resources on Quizplus for this Chatper
112 Verified Questions
112 Flashcards
Source URL: https://quizplus.com/quiz/7457
Sample Questions
Q1) According to Exhibit 4.1 in the textbook (Ratio of Market Value to Book Value for Selected Companies),firms with high market value to book value ratios achieve this because of their ________ investment in ________ resources and technological expertise.
A) low; physical
B) low; tangible
C) high; knowledge
D) high; liquid asset
Q2) Which of the following reasons explains why painter Vincent van Gogh died penniless,while painter Pablo Picasso left a 740 million USD estate upon his death?
A) Van Gogh had a wider range of social connections.
B) Picasso had a wider range of social connections and bridging relationships.
C) Picasso was a solitary node with few connections.
D) Van Gogh was a hub who embedded himself in a vast network that stretched across various social lines.
Q3) The difference between the market value and book value of a firm is its social capital.
A)True
B)False
Page 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
105 Verified Questions
105 Flashcards
Source URL: https://quizplus.com/quiz/7458
Sample Questions
Q1) A risk for a firm that tries to attain both cost and differentiation advantages is that it can be stuck in the middle.An example of this is supermarkets because their ________ structure is ________ than discount retailers,and customers do not value their products and services as being high-end such as those offered by Whole Foods. A) cost; higher B) price; higher C) price; lower D) cost; lower
Q2) Factors that lead to a low-cost position also provide substantial entry barriers to substitute and new products as is demonstrated by the retailer,Aldi,whose focus on minimizing costs across the entire operation permits it to position well against competitors such as Walmart.
A)True
B)False
Q3) Combination strategies,such as integrating overall low cost and differentiation,makes it easier for rivals to duplicate or imitate because it is harder for the primary firm to provide value.
A)True
B)False
Page 7
To view all questions and flashcards with answers, click on the resource link above.
Chapter 6: Corporate-level Strategy: Creating Value Through Diversification
Available Study Resources on Quizplus for this Chatper
102 Verified Questions
102 Flashcards
Source URL: https://quizplus.com/quiz/7459
Sample Questions
Q1) According to the text,corporate restructuring includes
A) capital restructuring, asset restructuring, and technology restructuring.
B) capital restructuring, asset restructuring, and management restructuring.
C) management restructuring, financial restructuring, and procurement restructuring.
D) global diversification, capital restructuring, and asset restructuring.
Q2) A golden parachute is a prearranged contract with managers specifying that,in the event of a hostile takeover,the target company managers will be paid a significant severance package.
A)True
B)False
Q3) Yahoo purchased Tumblr for 1.1 billion in 2013 but wrote off 80 percent of the investment by the middle of 2016.They considered this to be a poor
A) expansion.
B) divestiture.
C) acquisition.
D) cost savings.
Q4) Explain the purpose of antitakeover tactics and provide a specific example of an actual antitakeover tactic.
8
To view all questions and flashcards with answers, click on the resource link above.
Chapter 7: International Strategy: Creating Value in Global Markets
Available Study Resources on Quizplus for this Chatper
107 Verified Questions
107 Flashcards
Source URL: https://quizplus.com/quiz/7460
Sample Questions
Q1) Green tea Oreos in China,chocolate and peanut butter Oreos in Indonesia,and banana dulce de leche Oreos in Argentina are examples of Kraft using ________ strategy.
A) an international
B) a multidomestic
C) a single country
D) a transnational
Q2) Typically,joint ventures involve less control and risk than franchising.
A)True
B)False
Q3) Regions represent the outcomes of centuries of political and cultural history that results in not only ________ but also mutual ________.
A) differences; expectations
B) similarities; expectations
C) commonalities; losses
D) commonalities; affinities
Q4) Discuss the role of market size in motivating a company to pursue international expansion.Use statistics to illustrate your explanation.
Page 9
To view all questions and flashcards with answers, click on the resource link above.
Chapter 8: Entrepreneurial Strategy and Competitive Dynamics
Available Study Resources on Quizplus for this Chatper
94 Verified Questions
94 Flashcards
Source URL: https://quizplus.com/quiz/7461
Sample Questions
Q1) Which of the below best describes the competitive tendencies of small firms?
A) Small firms tend to signal their competitive actions long before they launch those actions because they lack legitimacy in the marketplace.
B) Small firms typically have more resources available as they undertake competitive attacks than do large firms.
C) Small firms are more nimble and can respond quickly to competitive attacks.
D) Small firms are more nimble and cannot respond quickly to competitive attacks.
Q2) Square provides a means for small businesses to process credit and debit card sales without signing up for a traditional credit card arrangement of monthly fees and minimum charges.When its business grew rapidly,Apple,Google,and PayPal responded with ________ actions?
A) pioneering
B) imitative
C) adaptive
D) differentiated
Q3) Explain what a pioneering new entry means and when it is appropriate to use it.
To view all questions and flashcards with answers, click on the resource link above.
10
Chapter 9: Strategic Control and Corporate Governance
Available Study Resources on Quizplus for this Chatper
91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/7462
Sample Questions
Q1) Sales quotas,operating budgets,and production schedules are examples of traditional controls.
A)True
B)False
Q2) It is generally argued that the takeover constraint deters management from A) engaging in opportunistic behavior.
B) considering acquiring other companies.
C) declaring dividends.
D) increasing the level of borrowing of a firm.
Q3) For the maximum benefit of each part,a corporation is a mechanism created to allow different parties to contribute all the following except A) buildings.
B) capital.
C) expertise.
D) labor.
Q4) When would single-loop control systems be most appropriate?
Q5) 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?
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Creating Effective Organizational Designs
Available Study Resources on Quizplus for this Chatper
86 Verified Questions
86 Flashcards
Source URL: https://quizplus.com/quiz/7463
Sample Questions
Q1) One of the reasons that Asian conglomerate business groups continue to grow and those in the United States are seen to be unfocused and unlikely to succeed is that
A) Asian conglomerates have a single corporation with a wide set of wholly owned subsidiaries.
B) U.S. conglomerates are made up of a set of legally separate corporations, each with its own board of directors and shareholders.
C) Asian conglomerates are made up of a set of legally separate corporations, each with its own board of directors and shareholders.
D) Asian conglomerates are structured similarly to those in the United States and Europe.
Q2) When a firm has international operations,choosing the most appropriate structure depends upon the extent of international expansion,the type of strategy,and the degree of market density.
A)True
B)False
Q3) Discuss the advantages and disadvantages of a simple organizational structure.
Q4) What is organizational structure and why is it important?
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
104 Verified Questions
104 Flashcards
Source URL: https://quizplus.com/quiz/7464
Sample Questions
Q1) The CEO scraps the company commission-based reward system because it rewards employees for inappropriate behavior.This is an example of
A) ethical behavior.
B) designing the organization.
C) unethical behavior.
D) the failure to maintain the status quo.
Q2) Texas Instruments teaches ethics to its employees.They include all levels of the organization in the exchange of knowledge and auditing of behaviors.This is a good example of a(n)________ ethics program.
A) compliance-based
B) integrity-based
C) conformance-based
D) behavioral-based
Q3) Compliance-based ethic programs typically are designed by A) management.
B) employees.
C) shareholders.
D) corporate counsel.
Q4) What is the difference between individual ethics and organizational ethics?
Page 13
To view all questions and flashcards with answers, click on the resource link above.
Chapter 12: Managing Innovation and Fostering Corporate
Entrepreneurship
Available Study Resources on Quizplus for this Chatper
93 Verified Questions
93 Flashcards
Source URL: https://quizplus.com/quiz/7465
Sample Questions
Q1) Project ________ involves justifying whether an opportunity is attractive in the marketplace; project ________ involves evaluating the strategic and economic impact of a new venture.
A) impetus; definition
B) definition; impetus
C) reward; development
D) development; focus
Q2) Which of the following is not part of a culture of entrepreneurship?
A) The search for venture opportunities permeates every part of the organization.
B) Every value chain activity is viewed as a source of entrepreneurial value creation.
C) Employees at every level are attuned to opportunities to help create new businesses.
D) A select staff are assigned to be attuned to new opportunities to create business.
Q3) What are new venture groups? What purpose do they serve? Are they more than a typical R&D department? Explain.
Q4) Define the five dimensions of an entrepreneurial orientation and why are they important?
To view all questions and flashcards with answers, click on the resource link above. Page 14