Strategic Management Test
Bank
Course Introduction
Strategic Management is a comprehensive course that explores the formulation, implementation, and evaluation of cross-functional decisions that enable an organization to achieve its long-term objectives. The course covers tools and frameworks for analyzing internal and external environments, such as SWOT, PESTEL, and Porters Five Forces, and applies them to real-world business scenarios. Students will learn to develop strategic plans, assess competitive dynamics, and make informed decisions to sustain competitive advantage. Emphasis is placed on strategic leadership, ethics, corporate governance, and the impact of globalization on strategy. Through case studies and simulations, students gain practical skills in problem-solving, critical thinking, and strategic analysis.
Recommended Textbook
Strategic Management Creating Competitive Advantages 9th Edition by Gregory G Dess Dr
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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/7454
Sample Questions
Q1) Community stakeholders are concerned primarily with A) product warranties.
B) corporate citizenship behavior.
C) capital appreciation.
D) repayment of principal.
Answer: B
Q2) Strategy analysis is the starting point of the strategic management process and consists of the
A) analysis only of the vision, mission, and objectives of the firm.
B) analysis of the relevant internal and external environmental factors only.
C) analysis of relevant competitors only.
D) matching of vision, mission, and objectives with the relevant internal and external environmental factors.
Answer: D
Q3) Sustainability is being increasingly recognized as a source of cost efficiencies and revenue growth.
A)True
B)False
Answer: True
Page 3
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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) The aging of the population,changes in ethnic composition,and effects of the millennial generation are ________ changes.
A) macroeconomic
B) global
C) sociocultural
D) demographic
Answer: D
Q2) In the SWOT framework,Opportunities and Threats are environmental conditions internal to the firm.
A)True
B)False
Answer: False
Q3) The Internet and digital technologies suppress the bargaining power of buyers by providing them with more information to make buying decisions.
A)True
B)False
Answer: False
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Page 4
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) In making the decision to enter the pharmaceutical industry,a company would not need to consider which of the following?
A) historical comparisons
B) comparisons with industry norms
C) comparisons with key competitors
D) comparisons with non-competitors
Answer: D
Q2) Ashley Furniture controls all steps of its distribution systems,developing specific competencies that are difficult to match.They are using ________ to build sustainable advantage.
A) path dependency
B) social complexity
C) physical uniqueness
D) tangible resources
Answer: A
Q3) Path dependency has no impact on the inimitability of resources.
A)True
B)False
Answer: False
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Page 5
Chapter 4: Recognizing a Firm's Intellectual Assets: Moving
Beyond a Firm's Tangible Resources
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) A recent study by Deloitte and the Billie Jean King Leadership Initiative shows that Millennials,in general,see the concepts of diversity and inclusion as very different.What are the implications for a company in terms of culture and innovation?
Q2) The text discusses three areas a firm must be concerned with to keep their best and brightest employees from leaving.These include all the following except A) hiring/selecting.
B) developing.
C) sorting/absorbing.
D) retaining.
Q3) Two software engineers working together on a computer code share their ________ knowledge to create new knowledge.
A) explicit
B) theoretical
C) tacit
D) easily reproduced
Q4) Intellectual property rights are the tangible property owned by a firm. A)True B)False
Page 6
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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) Zulily protects itself from buyer power and intense rivalry from competitors by
A) increasing the bargaining power of its customers.
B) paying close attention to costs.
C) increasing costs.
D) increasing the buyer power.
Q2) Hardware chains such as Ace and True Value are losing market share to rivals such as Lowe's and Home Depot in spite of them using a focus strategy.Why?
A) Achieving parity on costs for specialty retailers is difficult.
B) They have too broad a product line.
C) They have equivalent purchasing power as the national chains.
D) Their costs are the same as those of the national chains.
Q3) Few turnarounds require firms to analyze both the external and internal environments relevant to their firm.
A)True
B)False
Q4) A platform business such as Airbnb leverages data analytics to differentiate its offer from that of competitors such as VRBO.
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) Proctor and Gamble is a large multinational organization that has many business sharing distribution resources.Diversification strategies take advantage of the ________ that exist in their organization.
A) costs
B) employees
C) discontinuities
D) synergies
Q2) When Cabot Corporation used the BCG matrix to evaluate its carbon black manufacturing business,the model led them to move away from ________ and to diversify into unrelated businesses listed as stars by the model.This resulted in a decline on return on assets.They eventually returned to carbon black manufacturing and divested the unrelated businesses; their 2016 revenue was 2.4 billion USD.
A) the dog quadrant
B) its core market
C) the question mark quadrant
D) semiconductor manufacturing
Q3) Why do some diversification efforts pay off and others produce poor results? Why should companies even bother with diversification initiatives?
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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) Typically,joint ventures involve less control and risk than franchising.
A)True
B)False
Q2) As in the case of Siebel Systems (now part of Oracle),elements of a global strategy may facilitate the competitive advantage of differentiation by
A) increased freedom of individual business units to adapt to local tastes.
B) the creation of a worldwide network to achieve consistent service regardless of location.
C) flexibility in applying research and development to meet country-specific needs.
D) tailoring products to meet country-specific needs.
Q3) Because many countries are investing in countries other than their own,each country is becoming more autonomous and independent.
A)True
B)False
Q4) What is international strategy? Discuss the risks and challenges associated with an international strategy.
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Page 9
Chapter 8: Entrepreneurial Strategy and Competitive Dynamics
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94 Verified Questions
94 Flashcards
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Sample Questions
Q1) A focus strategy must not include elements of differentiation and overall cost leadership in order to be successful.
A)True
B)False
Q2) According to the text,which of the following does not make it difficult for entrepreneurial firms to effectively pursue a strategy of differentiation?
A) Differentiation strategies are often expensive to enact.
B) Incumbent firms are constantly seeking opportunities to specialize in market niches.
C) It may be difficult for a young firm to establish a strong brand identity.
D) Implementing superior new technologies may be challenging for entrepreneurial firms.
Q3) Competitors in a mature market typically find that a new entrant is threatening because
A) nearly all market need is already being met.
B) the new entrant might increase prices.
C) the new entrant offers the same product.
D) the new entrant is a pioneer.
Q4) Explain what a pioneering new entry means and when it is appropriate to use it.
Page 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) External governance control mechanisms include all the following except A) auditors.
B) analysts.
C) competitors.
D) media.
Q2) The traditional approach to strategic control is interactive,while the contemporary approach to strategic control is sequential.
A)True
B)False
Q3) Zappos and Amazon focus on customer service.What purpose does this serve in terms of attaining behavioral control?
A) It uses culture to sustain their primary source of competitive advantage.
B) It uses rewards and incentives to sustain corporate culture.
C) It demonstrates to employees the importance of articulating explicit goals and objectives.
D) It gives management more control over employees.
Q4) Explain why control systems are necessary for strategy implementation.
Q5) What is agency theory and what problems is it concerned with resolving?
Q6) When would single-loop control systems be most appropriate?
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Chapter 10: Creating Effective Organizational Designs
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86 Verified Questions
86 Flashcards
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Sample Questions
Q1) Organizational structure refers to the formalized patterns of interactions that link company ________,________,and ________.
A) processes; mechanisms; techniques
B) tasks; mechanisms; techniques
C) processes; people; mechanisms
D) tasks; technologies; people
Q2) One of the challenges of an ambidexterity in a firm is that it must ensure that it remains proactive in expanding or modifying its product-market scope to anticipate and satisfy market conditions.
A)True
B)False
Q3) If an international firm has a global strategy and a relatively low level of product diversity,the best choice for its organizational structure is a(n)________ structure.
A) worldwide functional
B) worldwide product division
C) worldwide matrix
D) international division
Q4) What is organizational structure and why is it important?
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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) The expression the dark side of competition means that
A) illegal behaviors result in penalties.
B) unethical behaviors are more like to take place when competition is intense.
C) competition encourages ethical behavior.
D) good competition is costly.
Q2) Leaders risk creating a culture of fear and micromanagement if they
A) create personal connections with their people through frequent unannounced visits.
B) express their passion frequently.
C) keep their workforce motivated.
D) recognize the opinions of others so that they feel valued.
Q3) Empowering individuals by soliciting their input helps an organization to enjoy better employee
A) retention.
B) performance.
C) morale.
D) communication.
Q4) Explain why the leadership activities of (1)setting a direction,(2)designing the organization,and (3)nurturing a culture dedicated to excellence and ethical behavior are independent.
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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) Two common forms of a focused approach to corporate entrepreneurship include ________ and ________.
A) internal collaboration; internal venturing
B) social capital; collaboration capital
C) business incubators; new venture groups
D) focus groups; business incubators
Q2) Innovation involves using ________ knowledge to ________ organizational processes or create commercially viable products and services.
A) more; disrupt
B) good; disrupt
C) new; transform
D) old; design
Q3) Which of the following dimensions of entrepreneurial orientation is described as a forward-looking perspective characteristic of a marketplace leader that has the foresight to seize opportunities?
A) proactiveness
B) risk taking
C) autonomy
D) competitive aggressiveness
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