Strategic Planning Exam Practice Tests
Course Introduction
Strategic Planning is a foundational course that explores the processes and frameworks organizations use to define their direction, allocate resources, and achieve long-term objectives. Students will examine key concepts such as environmental analysis, goal setting, strategy formulation, implementation, and evaluation. The course emphasizes critical thinking and decision-making skills, utilizing real-world case studies and practical exercises to help students develop strategic plans that respond to complex challenges in a dynamic business environment. Upon completion, students will be equipped to contribute effectively to the strategic planning process within a variety of organizational contexts.
Recommended Textbook
Strategic Management Text and Cases 8th Edition by Gregory Dess
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12 Chapters
1724 Verified Questions
1724 Flashcards
Source URL: https://quizplus.com/study-set/3051
Page 2
Chapter 1: Strategic Management: Creating Competitive Advantages
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174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/60609
Sample Questions
Q1) According to the CEO of IDEO,Tim Brown,spotting and promoting at any level in the firm is important.
A)True
B)False
Answer: True
Q2) Stakeholders are
A) a new way to describe stockholders.
B) individuals, groups, and organizations who have a stake in the success of the organization.
C) creditors who hold a lien on the assets of the organization.
D) attorneys and their clients who sue the organization.
Answer: B
Q3) The ROI on sustainability efforts can be difficult to quantify because
A) an excess of necessary data for accurate calculation is readily available.
B) benefits from such projects are tangible.
C) the payback period is on a different time frame.
D) the payback period is on the same time frame.
Answer: C
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Chapter 2: Analyzing the External Environment of the Firm:
Creating Competitive Advantages
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173 Verified Questions
173 Flashcards
Source URL: https://quizplus.com/quiz/60608
Sample Questions
Q1) Competitive intelligence generally does not benefit very much from gathering information on competitors from sources in the public domain.
A)True
B)False
Answer: False
Q2) In most industries,new entrants will not be a threat because the Internet lowers entry barriers.
A)True
B)False
Answer: False
Q3) Scenario analysis relies on the extrapolation of historical trends.
A)True
B)False
Answer: False
Q4) Which of the following is not an input to develop forecasts?
A) environmental scanning
B) competitor intelligence
C) environmental monitoring
D) stakeholder management
Answer: D
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Chapter 3: Assessing the Internal Environment of the Firm
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174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/60607
Sample Questions
Q1) At Sephora.com,a customer service representative taking a phone call from a repeat customer has instant access to what shade of lipstick she likes best.This is an example of a procurement support activity in the value chain.
A)True
B)False Answer: False
Q2) A meaningful ratio analysis need only include how ratios change over time.
A)True
B)False
Answer: False
Q3) Intangible resources of a firm refer to its capacity to deploy tangible resources over time and leverage those resources effectively.
A)True
B)False Answer: False
Q4) The total debt ratio is used to measure profitability.
A)True
B)False Answer: False
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Chapter 4: Recognizing a Firms Intellectual Assets: Moving
Beyond a Firms Tangible Resources
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174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/60606
Sample Questions
Q1) Dynamic capabilities do not allow a firm to create a series of temporary advantages through new resource configurations.
A)True
B)False
Q2) If employees are working effectively in teams and sharing their knowledge and learning from each other,not only will they be less likely to add value to the firm,but they also will be more likely to leave the organization,because of the loyalties and social ties that they develop over time.
A)True
B)False
Q3) Hiring organizations can be amorphous,distant and threatening entities and therefore detractors for knowledge workers.
A)True
B)False
Q4) Technology can be used successfully to leverage human capital and knowledge within organizations as well as with customers and suppliers beyond their boundaries.
A)True
B)False
Page 6
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Chapter 5: Business-Level Strategy: Creating and Sustaining Competitive Advantages
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163 Verified Questions
163 Flashcards
Source URL: https://quizplus.com/quiz/60605
Sample Questions
Q1) During the growth stage of the market life cycle,customers are very likely to establish brand loyalty.
A)True
B)False
Q2) In the __________ stage of the industry life cycle,there are few segments,the emphasis on process design is low,and the major functional areas of concern are general management and finance.
A) introduction
B) growth
C) decline
D) maturity
Q3) One aspect of using a cost leadership strategy is that experience effects may lead to lower costs.Experience effects are achieved by
A) spreading out a given expense or investment over a greater volume.
B) hiring more experienced personnel.
C) repeating a process until a task becomes easier.
D) competing in an industry for a long time.
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Page 7
Chapter 6: Corporate-Level Strategy: Creating Value Through Diversification
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114 Verified Questions
114 Flashcards
Source URL: https://quizplus.com/quiz/60604
Sample Questions
Q1) Diversification initiatives must be justified by the creation of value for shareholders. A)True
B)False
Q2) Economies of scope are cost savings from leveraging core competencies or sharing unrelated activities among businesses in a corporation.
A)True
B)False
Q3) The potential advantages of strategic alliances and joint ventures include entering new markets as well as developing and diffusing new technologies.
A)True
B)False
Q4) Transaction costs include all of the following costs except A) agency costs.
B) negotiating costs.
C) search costs.
D) monitoring costs.
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Page 8
Chapter 7: International Strategy: Creating Value in Global Markets
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140 Verified Questions
140 Flashcards
Source URL: https://quizplus.com/quiz/60603
Sample Questions
Q1) Which of the factors below has not made the software services industry in India extremely competitive on a global scale?
A) large pool of skilled workers
B) large, growing market and sophisticated customers
C) tax and antitrust legislation that protects the dominant players in the industry
D) large network of public and private educational institutions
Q2) Shared Spanish colonialism is one reason that explains regionalism tendencies in
A) Asia.
B) South America.
C) the United States.
D) Africa.
Q3) In a global strategy a firm operates all of its businesses under a single common strategy,regardless of location.
A)True
B)False
Q4) The factor endowments of a country are inherited and cannot be created.
A)True
B)False
Page 9
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Chapter 8: Entrepreneurial Strategy and Competitive Dynamics
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115 Verified Questions
115 Flashcards
Source URL: https://quizplus.com/quiz/60602
Sample Questions
Q1) Opportunities can be found through a structured search process.The example of Ancient Ales with their innovative line of craft beers demonstrates which of the following types of structured search?
A) Identify frustrations with current products or processes.
B) Talk to people who know including suppliers, customers, frontline employees.
C) Borrow ideas from other markets.
D) Find historical ideas and re-purpose them.
Q2) Cutting prices or increasing marketing efforts are examples of tactical competitive actions.
A)True
B)False
Q3) According to the text,for an entrepreneurial start-up to be successful,three ingredients are critical.What are they?
A) good ideas, a team of investors, and a business plan
B) a viable opportunity, available resources, and a qualified and motivated founding team
C) an opportunity, a marketing plan, and office space
D) management, marketing, and money
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Chapter 9: Strategic Control and Corporate Governance
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116 Verified Questions
116 Flashcards
Source URL: https://quizplus.com/quiz/60601
Sample Questions
Q1) For businesses facing complex and turbulent business environments,which of the following is true?
A) Goals and objectives that are uncertain prevent opportunism.
B) Traditional strategic controls are usually inappropriate.
C) Complacency about predetermined milestones can prevent adaptability.
D) Detailed plans are needed to maintain order.
Q2) The risk of being acquired by hostile raiders is often referred to as the takeover constraint.
A)True
B)False
Q3) According to a 2011 Harvard Business Review study,women and minorities are overrepresented on boards of firms in the Standard and Poors 500 list.
A)True
B)False
Q4) Boundaries and constraints,when used properly,can minimize improper and unethical conduct.
A)True
B)False
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11
Chapter 10: Creating Effective Organizational Designs
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121 Verified Questions
121 Flashcards
Source URL: https://quizplus.com/quiz/60600
Sample Questions
Q1) If an international firm has a multidomestic strategy and a relatively high 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
Q2) A global start-up faces many management challenges including A) communication and coordination across time zones.
B) pressure to perform internally all primary activities of the value chain.
C) assuring financing from home country only.
D) hiring only from home country.
Q3) A global start-up typically benefits from lower communication,coordination,and transportation costs.
A)True
B)False
Q4) The strategic business unit (SBU)and holding company structure are variants of the functional form of structure.
A)True
B)False
Page 12
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Chapter 11: Strategic Leadership: Creating a Learning
Organization and an Ethical Organization
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139 Verified Questions
139 Flashcards
Source URL: https://quizplus.com/quiz/60599
Sample Questions
Q1) Coercive power is the
A) power exercised by use of fear of punishment for errors of omission or commission by employees.
B) power of persuasion exercised by a charismatic leader to get compliance from reluctant subordinates.
C) type that arises from manager access, control, and distribution of information that is not freely available to everyone in an organization.
D) ability of the leader or manager to confer rewards for positive behaviors or outcomes.
Q2) Many situations that a firm faces have regular,identifiable patterns.Leaders tend to handle such routines by establishing ______ or ___________ to be followed that can be applied _______________ to each occurrence.
A) rules; regulations; individually
B) policies; regulations; uniformly
C) a policy; a procedure; uniformly
D) documents; credos; uniquely
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Chapter 12: Managing Innovation and Fostering Corporate Entrepreneurship
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121 Verified Questions
121 Flashcards
Source URL: https://quizplus.com/quiz/60598
Sample Questions
Q1) Fostering creativity and experimentation is the only innovativeness technique that company managers should consider when identifying and launching corporate ventures.
A)True
B)False
Q2) Proctor & Gamble is centralizing 20 to 30 percent of its research efforts in a new corporate-level business creation and innovation unit.They believe that this will assist them only with developing incremental innovations that will help the overall bottom line.
A)True
B)False
Q3) In corporations with a strong entrepreneurial culture,the willingness and ability to change
A) is imposed from the top-down.
B) is considered a core capability.
C) often leads to instability.
D) often worries stakeholders such as suppliers and creditors.
Q4) Product champions are the employees who identify new product ideas or services.
A)True
B)False
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