Strategic Management
Midterm Exam
Course Introduction
Strategic Management is a comprehensive course that explores the formulation, implementation, and evaluation of organizational strategies to achieve competitive advantage and long-term success. Students will analyze real-world cases, apply strategic frameworks, and assess internal and external business environments. The course covers topics such as vision and mission development, industry analysis, resource allocation, competitive positioning, corporate governance, and strategic decision-making. Emphasis is placed on integrating functional business areas and critically examining how organizations respond to dynamic markets, technological changes, and global trends. By the end of the course, students will be equipped with practical tools and analytical skills necessary for effective strategic planning and leadership.
Recommended Textbook
Management 1st Edition by Luis R. Gomez Mejia
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15 Chapters
1199 Verified Questions
1199 Flashcards
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2
Chapter 1: Management and Its Evolution
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) Scientific management
A) ensures workers are empowered to decide how best to do the job.
B) emphasizes cross training of employees.
C) avoids standardized productivity quotas.
D) encourages management to share productivity gains.
Answer: D
Q2) Which level of management is responsible for implementing the directives of senior executives?
A) Tactical managers
B) Strategic managers
C) Day-to-day supervisors
D) Operational managers
Answer: A
Q3) When the accounting manager reviews this month's sales, compares them to the sales budget then takes corrective action, she is performing the controlling function of management.
A)True
B)False
Answer: True
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Page 3
Chapter 2: The Culture of Management
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Sample Questions
Q1) Which type of risk is represented by government changes, terrorism, and social unrest?
A) Economic
B) Political
C) Demographic
D) Legal
Answer: B
Q2) Which of the following countries is not a member of the EU?
A) The United Kingdom
B) Ireland
C) China
D) France
Answer: C
Q3) Which of the following is not considered a reason why international assignments end in failure?
A) Family problems
B) Culture shock
C) A poor benefits package
D) Lack of pre-departure cross-cultural training
Answer: C
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Chapter 3: Managing Social Responsibility and Ethics
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Sample Questions
Q1) The individualism approach to ethics reflects a ________ concern for individuals and a ________ degree of economic freedom.
A) high; low
B) low; high
C) high; high
D) low; low
Answer: C
Q2) An example of a supervisor misusing discipline occurs when
A) using rumors as a basis to apply discipline to a targeted employee without giving the employee an opportunity to defend his or her conduct.
B) spending performance appraisal time focusing on areas of improvement.
C) terminating an employee for stealing a computer.
D) investigating plausible complaints of sexual harassment.
Answer: A
Q3) Stakeholder groups have specific interests that are in agreement with the interests of management and other stakeholder groups.
A)True
B)False
Answer: False
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Page 5
Chapter 4: Managing Organizational Culture and Change
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Sample Questions
Q1) The icons that communicate organizational values are referred to as
A) cultural symbols.
B) company rituals.
C) company ceremonies.
D) company stories.
Q2) The aspect of corporate culture that can be perceived from the way managers explain and justify their actions and decisions is
A) espoused values.
B) visible culture.
C) perceived values.
D) core values.
Q3) PepsiCo's phrase "We take eagles and teach them to fly in formation" is an example of which approach to reinforcing culture?
A) Symbols
B) Stories
C) Leadership
D) Language
Q4) Describe force-field analysis and explain how change is implemented.
Q5) Discuss the founder's role in influencing corporate culture.
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Chapter 5: Managing the Planning Process
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Sample Questions
Q1) Effective planning improves a company's control systems by A) making assumptions explicit.
B) making it possible to compare target versus actual results and take corrective action on gaps to modify future activities.
C) developing "what if" scenarios.
D) ensuring adequate resources are available.
Q2) What is scenario planning?
Q3) Cascading of objectives refers to the fact that
A) objectives at the top have larger budgets than those at lower organizational levels.
B) objectives are more general at the top and become more specific at lower organizational levels.
C) objectives at higher organizational levels reflect the mission of the organization.
D) all of the above
Q4) What are tactical action plans? How do they differ from operational action plans?
Q5) What is paralysis of the analysis?
Q6) Why must businesses focus attention on different time horizons when planning?
Q7) What are the three criteria for an effective strategic action plan?
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Chapter 6: Decision Making
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Sample Questions
Q1) To reduce the threat of groupthink, a group member may be assigned the role of
A) nominal group member.
B) proactive manager.
C) devil's advocate.
D) reactive manager.
Q2) Which decision-making technique tabulates and summarizes anonymous questionnaires then returns them to group members again for solutions until a consensus is reached?
A) The nominal group technique
B) Brainstorming
C) Storyboarding
D) The Delphi technique
Q3) The effect and time horizon of the decision are referred to as A) risk.
B) decision conflict.
C) decision scope.
D) certainty.
Q4) One of the limiting factors in group decision making is time.
A)True
B)False
Page 8
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Chapter 7: Strategic Management
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Sample Questions
Q1) The strategic management viewpoint that bases business strategy on what the firm is capable of doing, providing a more sustainable competitive advantage than basing it on external opportunities, is the
A) competitor analysis.
B) resource-based view.
C) functional analysis.
D) value-chain analysis.
Q2) Describe Porter's Five Forces model.
Q3) 3M's ability to leverage its knowledge of adhesive and thin-film technology is an example of which strategic management viewpoint?
A) Competitor analysis
B) Resource-based view
C) Functional analysis
D) Value-chain analysis
Q4) What are the two basic choices when selecting a business-level strategy? Provide examples of each.
Q5) Discuss the four components of an external environmental analysis.
Q6) What are the four types of diversification?
Q7) What are the components of the strategic management process?
Page 9
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Chapter 8: Entrepreneurship and Innovation
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Sample Questions
Q1) According to Michael Tushman, innovation can involve
A) radical change, but not incremental change.
B) incremental change, but not radical change.
C) neither radical change nor incremental change.
D) radical change or incremental change.
Q2) A small business is defined by the U.S. Small Business Administration as employing fewer than
A) 25 employees.
B) 100 employees.
C) 250 employees.
D) 500 employees.
Q3) As opposed to a small business, one of the important goals of an entrepreneurial venture is
A) social responsibility.
B) profit.
C) growth.
D) innovation.
Q4) Data indicates that 90 percent of new ventures are successful after four years. A)True
B)False
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Chapter 9: Managing the Structure and Design of Organizations
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Sample Questions
Q1) Describe a functional structure.
Q2) Which of the following statements is true concerning authority?
A) Authority is given to the position and not the person.
B) Authority originates at the top of the organization based on the property rights of the owners and flows down the vertical organizational hierarchy from top to middle to operative employees.
C) Positions at the top of the hierarchy have more authority than positions at lower levels.
D) all of the above
Q3) Organization culture
A) gives employees an internal gyroscope that directs them to do things that make the organization more effective.
B) is the system of shared values, assumptions, and beliefs that unite members of the organization.
C) reflects employees' views about the "way we do things around here."
D) all of the above
Q4) Who are line and staff managers? Give an example of each.
Q5) What are some of the coordination mechanisms used in organizations?
Q6) How can organizational culture act as a coordination mechanism?
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Chapter 10: Human Resource Management
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Sample Questions
Q1) In relative judgments employees are compared to one another, while in absolute judgments employees are compared against performance standards.
A)True
B)False
Q2) The first step in HRP is
A) conducting a skills inventory.
B) determining product demand.
C) forecasting labor demand.
D) forecasting labor supply.
Q3) Two commonly used forms of cross-functional training are
A) classroom lectures and simulations.
B) team training and brainstorming.
C) virtual reality and vestibule training.
D) CAI and simulations.
Q4) When firms use realistic job previews, the likely result is a decrease in recruitment effectiveness since the negative aspects of the job are revealed.
A)True
B)False
Q5) Discuss the importance of strategic compensation.
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Chapter 11: Managing Employee Diversity
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Sample Questions
Q1) Employer diversity objectives should be key components of corporate mission statements and company strategies.
A)True
B)False
Q2) The caution in creating diversity support groups is to ensure they do not become
A) too large.
B) self-contained units.
C) a requirement.
D) too nurturing.
Q3) When First Community Bank Boston presents seminars to diverse communities and provides an 800 line for people who do not speak English well, they are attempting to reap which benefit of diversity?
A) Better market access
B) Greater creativity
C) Improved team performance
D) Global competitiveness
Q4) What are diversity learning labs and how are they used?
Q5) What are some of the unique challenges of women in the workforce?
Q6) How does diversity impact team performance?
Q7) What is the purpose of a diversity audit?
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Chapter 12: Leadership in Management
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Sample Questions
Q1) Which theory reminds managers that providing additional rewards to meet a need will motivate people only if the need has not already been satisfied?
A) McClelland's Need theory
B) Attribution theory
C) Maslow's Hierarchy of Needs
D) Reinforcement theory
Q2) What is self-leadership? What are the mechanisms to foster self-leadership in the firm?
Q3) Which power base does not have to actually be used to exert influence?
A) Coercive
B) Legitimate
C) Referent
D) Expert
Q4) Transactional leaders revitalize organizations by instilling in followers the ability to question standard modes of operation and tap people's creativity.
A)True
B)False
Q5) Discuss in-groups and out-groups according to leader-member exchange.
Q6) What is the liability of a charismatic leader?
Page 14
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Chapter 13: Managing Teams
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Sample Questions
Q1) Closer relationships are established and the interdependence of team members is intensified in the ________ stage of development.
A) forming
B) storming
C) norming
D) performing
Q2) To be fully functional, self-managed team members need to be trained in
A) technical skills.
B) management skills.
C) interpersonal skills.
D) all of the above
Q3) The final stage of group development is
A) forming.
B) storming.
C) adjourning.
D) performing.
Q4) Discuss functional versus dysfunctional conflict.
Q5) What is a nonconforming high performer?
Q6) What is the difference between a team and a work group?
Q7) What is cohesiveness?
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Chapter 14: Managing Communication
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Sample Questions
Q1) Describe the communication model.
Q2) Passively listening may unintentionally short-circuit a conversation.
A)True
B)False
Q3) There is a high level of interactivity between the sender and receiver in A) face-to-face communication.
B) bulletin boards.
C) electronic newsletters.
D) Facebook postings.
Q4) Prolonged eye contact in business communication
A) is generally recommended.
B) may be interpreted as aggressiveness.
C) is a form of sexual harassment.
D) communicates lack of interest.
Q5) When Sarah communicates in ways that meet her needs while at the same time respecting the needs and rights of others, she is using ________ skills.
A) assertive communication
B) active listening
C) nonverbal communication
D) passive communication
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Chapter 15: Operation and Information System Management
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Sample Questions
Q1) The foundation of operations management is
A) acquiring inputs.
B) delivering the output.
C) planning.
D) determining the customer.
Q2) What are the four steps in the control process?
Q3) In a JIT system, the firm's inventory of inputs are
A) kept at the lowest level possible.
B) purchased from a single supplier.
C) kept at the highest level possible.
D) kept in nearby warehouses.
Q4) Discuss three tools to analyze the steps to determine an efficient sequence and to monitor the process.
Q5) ________ systems are used to keep inventory levels more or less constant.
A) Conversion
B) Reordering
C) Inventory
D) Statistical process
Q7) How does total factor productivity differ from partial productivity? Page 17
Q6) What is operations management and what are the three stages of operation?
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Page 18