Strategic Planning Exam Preparation Guide
Course Introduction
Strategic Planning is a comprehensive course that explores the processes and techniques organizations use to develop long-term objectives and actionable plans to achieve their mission and vision. Students will learn how to analyze internal and external environments, identify strategic challenges and opportunities, and formulate effective strategies for sustainable growth and competitive advantage. The course emphasizes critical thinking, decision-making, and the integration of analytical tools such as SWOT analysis, PESTEL analysis, and balanced scorecards. By examining real-world case studies, students will gain practical skills in setting measurable goals, allocating resources, and evaluating outcomes, preparing them to contribute to strategic decision-making in various professional contexts.
Recommended Textbook
Strategic Management Creating Competitive Advantages 9th Edition by Gregory
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12 Chapters
1223 Verified Questions
1223 Flashcards
Source URL: https://quizplus.com/study-set/423
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G Dess Dr
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) In strategic management,both the short-term and long-term perspectives need to be considered because
A) shareholder value is only measured by short-term returns.
B) shareholders only care about long-term returns.
C) long-term vision precludes the analysis of present operating needs.
D) the creative tension between the two forces managers to develop more successful strategy.
Answer: D
Q2) While working to prioritize and fulfill their responsibilities,members of the board of directors of an organization should
A) represent their own interests.
B) represent the interests of the shareholders.
C) direct all actions of the CEO.
D) emphasize the importance of short-term goals.
Answer: B
Q3) An idealistic vision can arouse employee enthusiasm and therefore is a good vision. A)True
B)False
Answer: False
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) Which of the following would be considered part of the general environment of a firm?
A) decreased entry barriers
B) higher unemployment rates
C) increased bargaining power of the firm's suppliers
D) increased competitive intensity
Answer: B
Q2) Classifying an industry into strategic groups involves judgment.If it is useful as an analytical tool,we must exercise caution in deciding what dimensions to use to map these firms.Dimensions include all of the following except A) breadth of product and geographic scope.
B) price and quality.
C) degree of vertical integration.
D) management team.
Answer: D
Q3) Reintermediation is responsible for an overall reduction in business opportunities.
A)True
B)False
Answer: False
Page 4
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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 using crowdsourcing as a means to integrate the customer into the value chain,there are some perils to consider.Which of the following is not related to crowdsourcing perils?
A) giving customers the opportunity to tarnish the company brand
B) asking for consumer input when demand is highly uncertain
C) eroding a low-cost competitive advantage of the firm
D) repeatedly getting feedback from the same customer
Answer: C
Q2) Financial resources such as cash and cash equivalents are intangible resources.
A)True
B)False
Answer: False
Q3) 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
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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) 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.
Q2) Which of the following is not a dynamic capability?
A) the ability to sense and seize new opportunities
B) the ability to generate new knowledge
C) the ability to reconfigure existing assets
D) the ability to submit to conventional industry and market wisdom
Q3) Once a knowledge asset (e.g.,a software code)is developed and paid for,it can be used many times at very low cost as long as it does not have to be substantially modified each time.
A)True
B)False
Q4) Knowledge workers are more loyal to their companies than traditional workers.
A)True
B)False
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) Piecemeal productivity improvements during a turnaround typically do not involve A) business process reengineering.
B) increased capacity utilization.
C) benchmarking.
D) expansion of company product market scope.
Q2) A pitfall of integrated overall cost leadership and differentiation is underestimating the expenses associated with coordinating value-creating activities in the extended value chain.
A)True
B)False
Q3) Many firms have achieved success by integrating activities throughout the extended value chain by using ________ to link their own value chain with the value chains of their customers and suppliers.
A) customization
B) information technology
C) human resources
D) competitive advantage
Q4) What are the pitfalls of the overall cost leadership strategy? Provide an example for each pitfall and explain why it is a pitfall.
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) 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
Q2) ________ is when one firm buys another through a stock purchase,cash or the issuance of debt.
A) An acquisition
B) A merger
C) An unrelated diversification
D) A related diversification
Q3) Portfolio models such as the BCG Portfolio matrix are limited in value because they only compare the SBU on four dimensions.
A)True
B)False
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Chapter 7: International Strategy: Creating Value in Global Markets
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107 Verified Questions
107 Flashcards
Source URL: https://quizplus.com/quiz/7460
Sample Questions
Q1) Which of the following types of international firms are most likely to benefit from a global strategy as opposed to a multidomestic strategy?
A) firms that compete in industries in which consumer preferences vary substantially in each country
B) firms in industries that are expanding very rapidly
C) firms in industries that have value added by sales and marketing departments
D) firms in industries that have much value added in research and design or manufacturing
Q2) Shared Arabic language and the Muslim religion is one reason that explains regionalism tendencies in
A) South America.
B) the Maghreb.
C) European Union.
D) North America.
Q3) What is international strategy? Discuss the risks and challenges associated with an international strategy.
Q4) What is a beachhead strategy and how does it contribute to a company's decision to internationalize?
Page 9
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Chapter 8: Entrepreneurial Strategy and Competitive Dynamics
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94 Verified Questions
94 Flashcards
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Sample Questions
Q1) Opportunity recognition is the process of identifying and selecting entrepreneurial opportunities.It does not involve the development of those ideas.
A)True
B)False
Q2) Spanx,the footless pantyhose and other undergarments for women company was founded in 2000.It combined nylon and Lycra to create a new type of undergarment that is comfortable and eliminates panty lines.It now produces over 200 products,generating over 250 million USD in annual sales.It used which new entry strategy in 2005?
A) adaptive
B) pioneering
C) differentiated
D) imitative
Q3) Cutting prices or increasing marketing efforts are examples of tactical competitive actions.
A)True
B)False
Q4) The likelihood that a competitor will launch an attack depends upon many factors.Discuss threat analysis and how it is used.
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) For young managers who see themselves as free agents,behavioral controls such as rewards and culture can be an effective way to enhance organizational loyalty.
A)True
B)False
Q2) The board of directors is a group that has a ________ duty to ensure that the company is run consistently with ________ interests of the owners,or shareholders of a corporation and that acts as an ________ between the shareholders and management.
A) legal; short-term; intermediary
B) sworn; long-term; advisor
C) fiduciary; long-term; intermediary
D) formal; short-term; advisor
Q3) What is agency theory and what problems is it concerned with resolving?
Q4) Informational controls involve the balance and alignment of the culture,rewards,and boundaries of a firm.
A)True
B)False
Q5) Explain why control systems are necessary for strategy implementation.
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) 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) Tools and techniques used to achieve effective coordination and integration of key activities in an organization include all the following except
A) horizontal organization structures.
B) common culture and shared values.
C) horizontal diversification.
D) communications and information technologies.
Q3) 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) Which component of emotional intelligence (EI)enables a manager to have a deep understanding of the existence and importance of cultural and ethnic differences?
A) self-awareness
B) empathy
C) social skills
D) self-regulation
Q2) ________ are obstacles in which the design of organization structure,information processing,and reporting relationships,impede the proper flow and evaluation of information.
A) Systemic barriers
B) Behavioral barriers
C) Political barriers
D) Barriers to entry
Q3) Which of the following is an important characteristic of a leader?
A) strives to maintain the status quo
B) goal-oriented
C) reactive
D) focused on past performance
Q4) What is the difference between individual ethics and organizational ethics?
Page 13
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Chapter 12: Managing Innovation and Fostering Corporate Entrepreneurship
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93 Verified Questions
93 Flashcards
Source URL: https://quizplus.com/quiz/7465
Sample Questions
Q1) One of the following is not a type of risks that executives must address.Which is it?
A) business risk taking
B) financial risk taking
C) personal risk taking
D) product-market risk taking
Q2) From watching his wife struggle to keep track of the family finances,Intuit founder Scott Cook identified the need for easy-to-use financial software that provided a single place for managing bills,bank accounts,and investments.This is an example of which innovator DNA trait?
A) experimenting
B) associating
C) observing
D) networking
Q3) For innovation team members to work enthusiastically on innovation projects,it is important to separate the performance of individual team members from the performance of the innovation itself.
A)True
B)False
Q4) Explain why the seeds versus weeds dilemma is important.
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