Strategic Management
Textbook Exam Questions
Course Introduction
Strategic Management is a comprehensive course that explores the formulation, implementation, and evaluation of cross-functional decisions that enable organizations to achieve long-term objectives. Students will analyze internal and external business environments, learn frameworks for competitive advantage, and engage with real-world case studies to develop effective strategic plans. The course covers topics such as industry analysis, corporate governance, business ethics, innovation, and global strategies, equipping future managers and leaders with the critical thinking and decision-making skills necessary to drive organizational success in dynamic markets.
Recommended Textbook
Strategic Management of Technological Innovation 3rd Edition by Melissa A. Schilling
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Page 2
Chapter 1: Introduction
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Sample Questions
Q1) The relationship between speed of innovation and product obsolescence is A) direct (as innovation speed increases, products become obsolete more quickly).
B) inverse (as innovation speed increases, products become obsolete more slowly).
C) indirect (there is an effect, but it cannot be directly determined).
D) nonexistent (there is no relationship at all).
Answer: A
Q2) According to the concept of the innovation funnel,one new idea is usually responsible for several new products.
A)True
B)False
Answer: False
Q3) .The increased pace of innovation has only had a negligible effect on market segmentation and product obsolescence.
A)True
B)False
Answer: False
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Chapter 2: Sources of Innovation
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Sample Questions
Q1) The organization's structure,routines,and incentives can thwart individual creativity,but not amplify it.
A)True
B)False
Answer: False
Q2) Southeaster Athletic Mats,Inc.produces gym mats for school and health clubs.The company recently put a metal box near the time clock and asked employees to submit ideas in writing for improved productivity.It offered $10 for every idea it implemented.This is an example of a(n)
A) employee-driven idea system (EDIS).
B) suggestion box.
C) legal bribe.
D) applied research.
Answer: B
Q3) The qualities that make people inventive do not necessarily make them entrepreneurial.
A)True
B)False
Answer: True
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Page 4
Chapter 3: Types and Patterns of Innovation
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Sample Questions
Q1) "Moore's Law" refers to the rapidly increasing density of transistors on integrated circuits that enabled microprocessor performance to increase dramatically.This increase in density is expected to always continue at the same rate.
A)True
B)False
Answer: False
Q2) Mr.Inman discovered that if he put garlic salt on a regular hamburger it made it taste more like steak.He could then use a less expensive meat for the "chuckwagon steak" sandwich he sold.This is an example of a(n)_____ innovation.
A) radical
B) competence destroying
C) architectural
D) component
Answer: D
Q3) Innovators represent the largest category of adopters according to research.
A)True
B)False
Answer: False
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Chapter 4: Standards Battles and Design Dominance
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Sample Questions
Q1) When comparing the value of a new technology to an existing technology,the tendency is to focus mainly on objective information.
A)True
B)False
Q2) TechSense has just developed a GPS-enabled shoe that is targeted at runners,trekkers,and tourists.According to the Buyer Utility Map developed by Kim and Mauborgne,what is the value offered by the shoes in the utility lever of convenience at the use stage of the buyer experience cycle?
A) The shoes have a shelf life of four years after which the product must be disposed.
B) The shoes have to be recharged for at least an hour in order to work effectively.
C) The shoes require a specific charging dock.
D) The shoes should be kept away from wet surfaces as the GPS is not water resistant.
Q3) What is vaporware what are its advantages?
Q4) The value of a good to a user increases in a linear fashion.
A)True
B)False
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Chapter 5: Timing of Entry Part Two Formulating
Technological Innovation Strategy
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Q1) In industries that have increasing returns to adoption,allowing competitors to get a head start in building installed base can be a safe strategy.
A)True
B)False
Q2) If you are a first mover in the market of a new technology,you may find that your product offerings will have to be modified as consumers let their preferences be known. A)True
B)False
Q3) If you are certain of customer preferences and needs,you can enter the market earlier than if customer needs were unknown.
A)True
B)False
Q4) If a firm intends to refine an earlier entrant's technology and beat the earlier entrant to market with a new version of this technology,it must have enabling technologies. A)True B)False
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Chapter 6: Defining the Organizations Strategic Direction
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Q1) When the Arizona grocery store chain,Smitty's,told Associated Grocers (AG)to give them a bigger price discount or they would open their own warehouse and distribution center,AG listened because Smitty's was a big customer.This is an example of the
A) bargaining power of buyers.
B) bargaining power of sellers.
C) threat of substitutes.
D) technological substitution.
Q2) Socially complex resources refer to
A) resources or activities that emerge through the interaction of multiple individuals.
B) resources that cannot be defined in terms of a numerical value.
C) resources that require public sanction in order to be utilized for profit-making purposes.
D) resources that are shared by different parties thereby necessitating the need for legal intervention.
Q3) The balanced scorecard emphasizes measuring performance from primarily a financial perspective.
A)True
B)False
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Chapter 7: Choosing Innovation Projects
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Q1) The value of a call stock option is zero as long as the price of the stock is more than the exercise price.
A)True
B)False
Q2) "Are there already appropriate suppliers and distribution channels?" is a screening question related to the role of capabilities.
A)True
B)False
Q3) Discounted cash flow estimates are only accurate if A) calculations are made correctly.
B) the original estimates of profits are accurate.
C) management has instituted sufficient financial control systems.
D) they are made in a timely fashion.
Q4) The time required to break even on a project using discounted cash flows is known as period of return.
A)True
B)False
Q5) Explain how the real options method could apply to R&D investments in a new project.Are there any drawbacks to this method?
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Chapter 8: Collaboration Strategies
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Q1) Licensing a technology from another firm is typically more expensive for a licensee than developing a new technology in-house.
A)True
B)False
Q2) Which of the following elements would not be included in a collaboration contractual agreement?
A) Levels of contribution
B) Authority and control
C) Distribution of proceeds
D) Level of competition
Q3) Which of the following collaborative arrangements is usually considered to be the most complex and expensive?
A) Strategic alliance
B) Joint venture
C) Licensing
D) Outsourcing
Q4) A firm cannot collaborate with its competitor.
A)True
B)False
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Chapter 9: Protecting Innovation
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Q1) "Feature creep" refers to a company deleting features from its core product to pass the burden of those features on to other companies.
A)True
B)False
Q2) _____ specifies a minimum level of copyright protection for all member countries,and requires member countries to offer the same protection to both its own citizens and foreign nationals.
A) The Berne Convention
B) The Universal Copyright Convention
C) The Rome Convention
D) The Brussels Convention
Q3) If Harold receives a utility patent for an invention in the United Sates in August 2004,by when must he apply for a patent in other countries who have signed the Paris Convention to have a patent recognized there as of the same date?
A) 3 days
B) 3 months
C) 6 months
D) 12 months
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Chapter 10: Organizing for Innovation
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Sample Questions
Q1) A large company might want to disaggregate in order to A) lengthen development cycles.
B) reduce costs.
C) become more responsive.
D) improve the rate of product adoption.
Q2) Coalitions of small firms often have well-defined systems of authority and control.
A)True
B)False
Q3) The International Cyberspace Corporation is a very large firm.It can overcome its size barriers to creativity if it has the internal structures with the incentives and behaviors of small firms.
A)True
B)False
Q4) Standardization refers to the degree to which activities are performed in a uniform way.
A)True
B)False
Q5) Explain why a mechanistic organizational structure can stifle creativity.
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Chapter 11: Managing the New Product Development Process
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Q1) One way to reduce direct labor and material handling cost is to minimize the number of parts for a product.
A)True B)False
Q2) The House of Quality uses a scale from one to ten to evaluate competing products.
A)True
B)False
Q3) An "antichampion" is
A) a person who is out to sabotage a new project.
B) one who plays the role of the "devil's advocate."
C) a person who uses subjective criteria.
D) a person in a competing firm who sabotages market tests by promoting his company's products more heavily than normal.
Q4) In stage 1 of the stage-gate process,the team builds a business case that includes a defined product,its business justification,and a detailed plan of action for the next stages.
A)True B)False
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Chapter 12: Managing New Product Development Teams
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Q1) Dr.Askew was the Chairman of the Freshman Program Committee at Mountain Home University.This committee was designing a new curriculum for freshman.When he did an Internet search of the websites of other colleges and universities to discover what type of freshman curriculum they have developed,he was performing a(n)_____ activity.
A) ambassador
B) task coordination
C) scouting
D) paternalism
Q2) Dr.Askew was the Chairman of the Freshman Program Committee at Mountain Home University.This committee was designing a new curriculum for freshman.When he negotiated with the Dean of the University that committee members have no other service assignments so they could concentrate on this project and that the team be given 12 months to complete its goals,he was performing a(n)_____ activity.
A) ambassador
B) task coordination
C) scouting
D) paternalism
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Chapter 13: Crafting a Deployment Strategy Index
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Q1) Which of the following is a predictable competitive response to high initial prices?
A) Competition has an incentive to enter the market
B) Competition will stay out of the market because your product quality must be high
C) Competing companies may report you for price gouging
D) Competition will offer radically different products
Q2) Which of the following is true about the different advertising media?
A) Magazines have a "junk mail" image.
B) Yellow pages have high believability.
C) Newsletters have a wide reach.
D) Telephone advertising is relatively low cost.
Q3) Emily was looking for a firewall for her home computer.She finally decided on a particular brand because it also included a free anti-spam package to block unwanted email as a bonus.This is an example of A) a premium.
B) vaporware.
C) cash rebate.
D) introductory pricing.
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