Strategic Planning
Question Bank
Course Introduction
Strategic Planning explores the foundational concepts, tools, and processes used by organizations to define their long-term direction and establish a roadmap to achieve organizational objectives. This course covers environmental analysis, mission and vision development, goal setting, and the formulation and implementation of strategies in dynamic business environments. Through case studies and practical exercises, students learn how to assess internal and external factors, allocate resources, and measure performance to ensure sustained competitive advantage and organizational success.
Recommended Textbook
Strategic Management Text and Cases 9th Edition by Gregory Dess
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12 Chapters
1223 Verified Questions
1223 Flashcards
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Chapter 1: Strategic Management: Creating Competitive Advantages
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106 Verified Questions
106 Flashcards
Source URL: https://quizplus.com/quiz/29766
Sample Questions
Q1) Strategy analysis is the study of only the big picture external environments of the firm.
A)True
B)False
Answer: False
Q2) The vision and mission statements of a company set the overall direction of the organization.Strategic objectives serve what role?
A)operationalize the mission statement
B)modify the mission statement
C)are a shorter version of the mission statement
D)are only clarified by the board of directors
Answer: A
Q3) Sustainability programs often find their success beyond company boundaries,thus ________ systems and ________ metrics cannot capture all of the relevant numbers.
A)external;bio
B)internal;process
C)external;external
D)internal;internal
Answer: B
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) In the general environment,which of the following is not a demographic trend?
A)aging population
B)greater disparities in income levels
C)changes in ethnic composition
D)more women in the workforce
Answer: D
Q2) Although changes in the general environment may often adversely or favorably impact a firm,they seldom alter an entire industry.
A)True
B)False
Answer: False
Q3) 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
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) Explain this statement: A primary benefit of the balanced scorecard is that it complements financial indicators with operational measures of customer satisfaction,internal processes,and the innovation and improvement activities of the organization.
Answer: A balanced scorecard provides top managers with a fast but comprehensive view of the business.In a nutshell,it includes financial measures that reflect the results of actions already taken,but it complements these indicators with measures of customer satisfaction,internal processes,and the innovation and improvement activities of the organization (operational measures that drive future financial performance).
Q2) Primary activities contribute to the physical creation of a product or service,its sale and transfer to the buyer,and its service after the sale.
A)True
B)False
Answer: True
Q3) Value-chain analysis can only be applied to manufacturing operations.
A)True
B)False
Answer: False
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5
Chapter 4: Recognizing a Firms Intellectual Assets: Moving
Beyond a Firms Tangible Resources
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) 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
Q2) Access Health,a call-in medical center,uses technology to capture and share knowledge.When someone calls the center,a registered nurse uses the company clinical decision architecture to assess the caller symptoms,rule out possible conditions,and recommend a home remedy,doctor visit,or trip to the emergency room.This is an example of using
A)tacit knowledge.
B)a knowledge asset.
C)a non-codified asset.
D)groupthink.
Q3) If financial rewards are a vital organizational control mechanism (whether in the form of salary,bonus,stock options or the like),why is paying people more seldom the most important factor in attracting and retaining human capital?
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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) In evaluating the sustainability of the Atlas Door competitive advantages over the long run,it is important to evaluate the ability of rivals to
A)easily imitate its strategy.
B)communicate with its customers.
C)consistently overprice their products.
D)find new suppliers.
Q2) Underestimating expenses associated with coordinating value-creating activities in the extended value chain can be a result of ________ integration of cost leadership and differentiation.
A)good
B)poor
C)intentional
D)structured
Q3) A firm can achieve differentiation through all the following means except A)improving brand image.
B)offering lower prices to frequent customers.
C)better customer service.
D)adding additional product features.
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Chapter 6: Corporate-Level Strategy: Creating Value Through Diversification
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102 Verified Questions
102 Flashcards
Source URL: https://quizplus.com/quiz/29771
Sample Questions
Q1) An acquisition that results in ________ commonly indicates that expectations were not met.
A)expansion
B)divestiture
C)cost savings
D)increased sales
Q2) Restructuring requires the corporate office to find either exceptionally performing firms with realized potential or firms in industries on the threshold of significant,negative change.
A)True
B)False
Q3) According to BNP Paribas chief economist,Julia Coronado,when businesses feel confident about the future they are more aggressive in looking for ways to grow and expand their operations.You would expect the volume of mergers and acquisitions to ________ during this period.
A)decrease
B)remain stagnant
C)increase
D)fluctuate downward
Page 8
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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) Similarity of culture,laws,rules,and norms encourages
A)regionalization.
B)globalization.
C)trans-nationalization.
D)ethnocentric expansion.
Q2) Countries with demanding consumers,like environmentally-concerned Denmark,drive ________ to meet the demand.
A)worldwide innovation
B)in-country innovation
C)foreign manufacturing
D)global exchange
Q3) In Euromoney magazine's 2017 semi-annual "Country Risk Rating" evaluating political,economic,and other risks that entrants to international markets potentially face,which of the following countries have the next to the highest country economic risk?
A)South Africa and Russia
B)Singapore and China
C)Argentina and Bahrain
D)Kazakhstan and Colombia
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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) Running Press launched the Miniature Editions line of books in 1993.Today it has sold over 20 million copies.Which of the following most closely represents their strategy?
A)differentiation
B)overall cost leadership
C)focus
D)combination
Q2) ________ is a value required when an opportunity is attractive long enough for it to be successfully developed and deployed.
A)Value creating
B)Durable
C)Achievable
D)Affordable
Q3) Which of the following is not one of the three characteristics of entrepreneurial leadership mentioned by the text?
A)clarifying job responsibilities
B)dedication and drive
C)commitment to excellence
D)vision
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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) Agency theory is concerned with resolving two problems that can occur in agency relationships.Which of the following is not one of those problems?
A)Goals conflict between principals and agents.
B)Verification of actual agency activity is expensive and difficult to obtain.
C)Principals and agents have differing attitudes toward risk.
D)Stockholders and management align with external stakeholders.
Q2) Which of the following approaches to behavioral strategic control would be the least appropriate for an organization in which there is a great need for innovation and a high degree of autonomy?
A)culture
B)rewards
C)rules
D)incentives
Q3) Rules and regulations,rather than culture or rewards,would be used for strategic control at which type of company?
A)software developer
B)stock brokerage firm
C)manufacturer of mass produced products
D)high tech research facility
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Page 11
Chapter 10: Creating Effective Organizational Designs
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86 Verified Questions
86 Flashcards
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Sample Questions
Q1) According to author,Jeffrey Pfeffer,which of the following is not an advantage of teams?
A)Teams interact so closely and therefore coordination and integration becomes unnecessary.
B)Teams substitute peer-based control for hierarchical control of work.
C)Teams often develop more creative solutions because they share.
D)Teams permit the absorption of administrative tasks previously performed by specialists.
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) The relationship between strategy and structure can be best described as
A)strategy determines structure but structure does not determine strategy.
B)structure determines strategy but strategy does not determine structure.
C)strategy and structure influence each other.
D)a third force determines both strategy and structure.
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Page 12
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) Organizational integrity rests on a concept of purpose,responsibility,and ideals for an organization as a whole.An important responsibility of leadership is to create this ethical framework and develop the organizational capabilities to make it operational.Discuss the differences between the compliance-based approach and the integrity-based approach to organizational ethics.
Q2) Which of the following does not constitute organizational bases of leader power?
A)legitimate power
B)reward power
C)referent power
D)coercive power
Q3) Which two components of emotional intelligence (EI)deal with the personal ability to manage relationships with others?
A)motivation and self-awareness
B)self-regulation and empathy
C)empathy and social skill
D)motivation and empathy
Q4) Inappropriate reward systems may cause individuals to commit unethical acts.
A)True
B)False
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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/29777
Sample Questions
Q1) 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
Q2) Which of the following do corporate business incubators typically not provide?
A)physical space
B)mentoring
C)funding
D)student interns
Q3) What kind of innovation do Hulu,Amazon Prime Video,and Airbnb represent?
A)incremental
B)disruptive
C)radical
D)sustaining
Q4) Research indicates that leaders of innovative firms spend 50 percent more time on discovery activities than the leaders of less innovative firms.
A)True
B)False
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