Strategic Planning
Exam Questions
Course Introduction
Strategic Planning is a vital course that explores the frameworks, tools, and methodologies organizations use to set long-term objectives and formulate effective strategies for achieving them. Students learn to analyze internal and external environments, identify competitive advantages, and develop actionable plans that align with organizational goals. Through case studies, simulations, and real-world projects, the course emphasizes decision making under uncertainty, resource allocation, and the role of leadership in implementing and monitoring strategic initiatives. By the end of the course, students are equipped to contribute to the strategic direction and sustained success of businesses and non-profit organizations alike.
Recommended Textbook
Strategic Management Theory and Cases An Integrated Approach 12th Edition by Charles
Available Study Resources on Quizplus
12 Chapters
895 Verified Questions
895 Flashcards
Source URL: https://quizplus.com/study-set/251 Page 2
W. L.
Chapter 1: Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/3987
Sample Questions
Q1) Between 2005 and 2011, Blue Drinks, a multinational beverage corporation, increased its return on investment from $5 million to $25 million. The company was able to do this by expanding its product line to include a wider variety of flavors. The $20 million increase in its return on investment between 2005 and 2011 can be referred to as which of the following?
A) Shareholder value
B) Dividend payment
C) Profit growth
D) Profitability turnover
E) Risk capital Answer: C
Q2) The profit growth of a company can be measured by the increase in net profit over time.
A)True
B)False Answer: True
Q3) Emergent strategies are the unplanned responses to unforeseen circumstances. A)True
B)False Answer: True
Page 3
To view all questions and flashcards with answers, click on the resource link above.
Chapter 2: External Analysis: The Identification of Opportunities and Threats
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/3988
Sample Questions
Q1) When the value of the dollar is low compared to the value of other currencies, products made in the United States are relatively inexpensive and products made overseas are relatively expensive.
A)True
B)False
Answer: True
Q2) The bottled water industry created new competitors for Coca-Cola, but it did not change the basic industry boundaries.
A)True
B)False
Answer: False
Q3) A company's closest competitors are those in its strategic group.
A)True
B)False
Answer: True
Q4) Substitute products are not a threat if a company is the market leader.
A)True
B)False
Answer: False
Page 4
To view all questions and flashcards with answers, click on the resource link above.
Chapter 3: Internal Analysis: Resources and Competitive Advantage
Available Study Resources on Quizplus for this Chatper
79 Verified Questions
79 Flashcards
Source URL: https://quizplus.com/quiz/3989
Sample Questions
Q1) When conducting an internal analysis, strategic managers should:
A) identify its internal resources and evaluate the quality of those resources.
B) only count something as a resource if the company is actively managing it.
C) always file for patents and trademarks on intellectual property.
D) exclude any resource as a source of competitive advantage if it isn't rare.
E) identify as many resources as possible, regardless of their value or rarity.
Answer: A
Q2) Nene works in a factory where she picks crab meat from crabs. She is paid per day based upon the number of pounds of crab meat that she picks. Nene's daily number of pounds of crab meat can be referred to as her productivity.
A)True
B)False
Answer: True
Q3) Which of the following is not a way that companies can avoid failure?
A) Benchmarking
B) Continuous learning
C) Developing distinctive competencies
D) Exploiting luck
E) Following rigid business processes
Answer: E
Page 5
To view all questions and flashcards with answers, click on the resource link above.
Chapter 4: Building Competitive Advantage Through Functional-Level Strategies
Available Study Resources on Quizplus for this Chatper
75 Verified Questions
75 Flashcards
Source URL: https://quizplus.com/quiz/3990
Sample Questions
Q1) ____ refers to unit cost increases associated with a large scale of output.
A) Economies of scale
B) Learning effects
C) Diseconomies of scale
D) Flexible manufacturing
E) Mass customization
Q2) In spite of definite customer demand, new products often fail due to:
A) faster cycle time.
B) low customer defection rate.
C) poor commercialization.
D) increased response time.
E) scramble to gain first-mover advantage.
Q3) Research suggests that the adoption of _____ may increase efficiency and lower unit costs relative to what can be achieved by the mass production of a standardized output.
A) just-in-time manufacturing
B) quick technology
C) flexible production technology
D) stable production
E) unscheduled manufacturing
Page 6
To view all questions and flashcards with answers, click on the resource link above.
Chapter 5: Business-Level Strategy
Available Study Resources on Quizplus for this Chatper
74 Verified Questions
74 Flashcards
Source URL: https://quizplus.com/quiz/3991
Sample Questions
Q1) A company has a competitive advantage if it can increase costs relative to rivals.
A)True
B)False
Q2) When a company already has a low-cost structure, it has to give up a lot of differentiation in its product offering to get additional cost reductions.
A)True
B)False
Q3) A product's appeal to customers' desires cannot be considered a source of differentiation.
A)True
B)False
Q4) Companies that focus on the higher-income or higher-value end of the market will tend to have a higher cost structure.
A)True
B)False
Q5) Define the generic business-level strategies companies pursue.
Q6) Describe how business-level strategies give a company a competitive advantage over actual and potential rivals.
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Business-Level Strategy and the Industry Environment
Available Study Resources on Quizplus for this Chatper
82 Verified Questions
82 Flashcards
Source URL: https://quizplus.com/quiz/3992
Sample Questions
Q1) Innovators and early adopters have very different customer needs from the early majority.
A)True
B)False
Q2) Customers who have a practical interest in using a new technology in the future and who are willing to experiment and envision new uses for the technology are called:
A) early adopters.
B) the early majority.
C) innovators.
D) laggards.
E) the late majority.
Q3) A leadership strategy aims at growing in a declining industry by picking up the market share of companies that are leaving the industry.
A)True
B)False
Q4) Laggards are the customers who are the first ones to try and adopt a new technology.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Strategy and Technology
Available Study Resources on Quizplus for this Chatper
73 Verified Questions
73 Flashcards
Source URL: https://quizplus.com/quiz/3993
Sample Questions
Q1) A technological paradigm shift is most likely to occur in which stage of the industry life cycle?
A) Embryonic
B) Growth
C) Shakeout
D) Maturity
E) Decline
Q2) Mathematica 1.0 was one of the most distinctive applications for the short-lived NeXT Computer. It still sets the standard for symbolic math and visualization on Windows, Mac, Linux, and Unix. Mathematica 1.0 can be described as a(n) _____ application.
A) dominant
B) analogous
C) hardware
D) strategic
E) killer
Q3) What are technical standards, why are they important, and how are they established?
To view all questions and flashcards with answers, click on the resource link above.
9
Chapter 8: Strategy in the Global Environment
Available Study Resources on Quizplus for this Chatper
67 Verified Questions
67 Flashcards
Source URL: https://quizplus.com/quiz/3994
Sample Questions
Q1) Local responsiveness may be driven by economic and political demands placed on companies by host country governments.
A)True
B)False
Q2) Global standardization strategy emphasizes customization and product differentiation.
A)True
B)False
Q3) Swedish strength in fabricated steel products (such as ball bearings and cutting tools) has drawn on strengths in Sweden's specialty steel industry. This is an example of which of the following attributes that impact national competitive advantage?
A) Local demand conditions
B) Competitiveness of related and supporting industries
C) Intensity of rivalry in an industry
D) Factor endowments
E) Differences in distribution channels
Q4) Identify and discuss the general ways in which companies can increase their profitability and profit growth through global expansion.
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Corporate-Level Strategy: Horizontal Integration,
Vertical Integration, and Strategic Outsourcing
Available Study Resources on Quizplus for this Chatper
71 Verified Questions
71 Flashcards
Source URL: https://quizplus.com/quiz/3995
Sample Questions
Q1) Horizontal integration may be thought of as:
A) moving into a new unrelated industry.
B) giving control to suppliers.
C) gaining control of distributors.
D) staying inside the industry in which the company currently operates.
E) combining functional units within the company.
Q2) An automobile company enters into a long-term contract with two suppliers for the same automobile tool. This is to ensure the company is protected in the event one of the suppliers adopts an uncooperative attitude. Which of the following concepts is illustrated in this scenario?
A) Outsourcing
B) Vertical integration
C) Horizontal integration
D) Parallel sourcing
E) Full integration
Q3) Vertical integration can strengthen a company's differentiation business-level strategy and competitive advantage.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Corporate-Level Strategy: Related and Unrelated Diversification
Available Study Resources on Quizplus for this Chatper
73 Verified Questions
73 Flashcards
Source URL: https://quizplus.com/quiz/3996
Sample Questions
Q1) Research suggests that small-scale entry into a new business is the best way for an internal venture to succeed.
A)True
B)False
Q2) A company should pursue unrelated diversification instead of related diversification when:
A) its core skills are highly specialized and have few applications outside its core business.
B) the company's top managers are skilled at acquiring and turning around poorly run enterprises.
C) its core technological skills are applicable to a wide variety of industrial and commercial situations.
D) it wants to maximize growth.
E) the bureaucratic costs of implementation do not exceed the value that can be created by realizing economies of scope.
Q3) Free cash flow refers to additional funds from a government stimulus program. A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Corporate Performance, Governance, and Business Ethics
Available Study Resources on Quizplus for this Chatper
68 Verified Questions
68 Flashcards
Source URL: https://quizplus.com/quiz/3997
Sample Questions
Q1) In corporations, agency theory is used to explain the relationship between stockholders and corporate managers, and between upper-level managers and the lower-level managers they supervise.
A)True
B)False
Q2) An effective governance arrangement exists when the CEO is also the chairman of the Board of Directors.
A)True
B)False
Q3) A circumstance in which a manager is using company funds for his or her own personal consumption is called _____.
A) information manipulation
B) self-dealing
C) takeover constraint
D) greenmail
E) information asymmetry
Q4) All stakeholders have an exchange relationship with the company.
A)True
B)False
Page 13
To view all questions and flashcards with answers, click on the resource link above.
Chapter 12: Implementing Strategy Through Organization
Available Study Resources on Quizplus for this Chatper
71 Verified Questions
71 Flashcards
Source URL: https://quizplus.com/quiz/3998
Sample Questions
Q1) When decision-making responsibilities are decentralized, benefits include all of the following except:
A) increased motivation and accountability.
B) lower bureaucratic costs from flattened hierarchy.
C) reduced information overload.
D) easier coordination of functions.
E) flexibility in decision-making.
Q2) The purpose of a(n) _____ is to provide managers with incentives for motivating employees as well as feedback on how the company performs.
A) control system
B) adaptive culture
C) organizational design
D) span of control
E) hierarchy of authority
Q3) Control through culture is ineffective because employees do not internalize values.
A)True
B)False
Q4) Identify and discuss the three building blocks of organizational structure.
To view all questions and flashcards with answers, click on the resource link above. Page 14