Strategy Implementation and Control
Textbook Exam Questions
Course Introduction
This course provides a comprehensive examination of the processes and challenges involved in turning strategic plans into action and achieving organizational objectives. Students will explore the tools, frameworks, and managerial practices necessary for effective strategy implementation, focusing on aligning organizational resources, structures, and cultures with strategic goals. The course also addresses techniques for monitoring performance, evaluating outcomes, and managing risk through effective control systems. Through case analyses and practical exercises, students will develop skills to anticipate obstacles, adapt to dynamic environments, and ensure that innovative strategies are executed successfully.
Recommended Textbook
The Management of Strategy Concepts and Cases International 10th Edition by Hitt
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13 Chapters
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Page 2
Chapter 1: Strategic Management and Strategic Competitiveness
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Sample Questions
Q1) The final responsibility for forming the organization's mission lies with the A) CEO.
B) top-management team.
C) employees.
D) organization's stakeholders.
Answer: A
Q2) The strategic leader's work is characterized by
A) ambiguous decision situations which make effective decisions difficult to determine.
B) a willingness to unify stakeholders through skillful manipulation.
C) an ability to identify the correct solutions to long-range problems.
D) concentration on the practical day-to-day aspects of the organization's operations.
Answer: A
Q3) Customers, suppliers, unions, and local governments are examples of capital market stakeholders.
A)True
B)False
Answer: False
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Page 3
Chapter 2: The External Environment: Opportunities,
Threats, Industry Competition, and Competitor Analysis
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Sample Questions
Q1) In the chapter discussion of the political legal segment of the general environment, it was noted that President Obama's administration has sought to pursue policies that would
A) remove the U.S. from NAFTA.
B) abolish antitrust laws.
C) increase the amount of work U.S. companies outsource to firms in other nations.
D) reduce the amount of work U.S. companies outsource to firms in other nations.
Answer: D
Q2) (Refer to Case Scenario 2) How should Mangler respond to the threat of new Internet-based entrants?
Answer: There are several possible avenues and the best answers will note these alternatives. The most obvious response would be for Mangler to start up a web-based complement to its location-based delivery system. A related response might involve the centralization of low-demand, high-cost items to parts of the country, which could then be funneled rapidly to the actual local outlets using the Internet as an internal market. Finally, Mangler could hedge this threat by investing in the most promising online rivals.
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Page 4
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Sample Questions
Q1) Acme Auto Repair has a thriving business based on its reputation for high-quality work, honesty, and skilled employees. For continued long-term success, Acme's owner should
A) concentrate on maintaining Acme's present core competencies.
B) focus on developing Acme's future competitive advantages.
C) place more emphasis on tangible resources which are less vulnerable to obsolescence than intangible resources.
D) recognize that core competencies derived from human resources are more subject to becoming core rigidities than are core competencies based on other types of resources.
Answer: B
Q2) To build social capital whereby resources such as knowledge are transferred across organizations requires _________between the parties.
A) a contract
B) determination
C) confidence
D) trust
Answer: D
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Chapter 4: Business Level Strategy
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Sample Questions
Q1) The analysis of the activity map of a successful company such as Southwest Airlines emphasizes how
A) the organizational culture of Southwest Airlines is the key to the success of the organization.
B) understanding of the profit pool in an industry indicates to companies where above-average returns can be earned.
C) it is hard for rivals to match a configuration of integrated activities than to imitate a single activity.
D) the primary and support activities of a successful company capture value all along the value chain.
Q2) Counterfeit products are a serious problem for firms following the differentiation strategy.
A)True
B)False
Q3) Business-level strategy can be thought of as the firm's core strategy.
A)True
B)False
Q4) (Refer to Case Scenario 1) Is ICP's focused low-cost strategy appropriate for its industry? Why?
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Chapter 5: Competitive Rivalry and Competitive Dynamics
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Sample Questions
Q1) In general, small firms are more likely than large firms to launch competitive actions and tend to do it more quickly.
A)True
B)False
Q2) Competitors are more likely to respond to strategic or tactical actions when they are taken by a market leader.
A)True
B)False
Q3) The satellite dish at Faye's weekend home has malfunctioned. When she calls to have the dish repaired, the service representative tells her that the dish is obsolete and that parts for it are no longer made. Faye must replace the old dish with a new dish. This is an example of lack of firm loyalty to a product in a fast-cycle market.
A)True
B)False
Q4) (Refer to Case Scenario 1) As one of RI's direct competitors, how would you try to predict what it will do with regard to the new technology?
Q5) What factors contribute to the likelihood of a response to a competitive action?
Q6) (Refer to Case Scenario 2) Is Wal-Mart a competitor or a customer of Plasco?
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Chapter 6: Corporate-Level Strategy
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Sample Questions
Q1) Which type of diversification is most likely to create value through financial economies?
A) related constrained
B) operational and corporate relatedness
C) unrelated
D) related linked.
Q2) The use of poison pills increases the chance that a poorly performing firm will be taken over.
A)True
B)False
Q3) One method of facilitating the transfer of competencies between firms is to
A) virtually integrate the two firms.
B) transfer key people into new management positions.
C) share support activities, such as purchasing practices.
D) restructure the weaker firm to mirror the structure of the more successful firm.
Q4) Describe how diversified firms can use activity sharing and transfer of core competencies to create value.
Q5) What is the effect of a firm's low performance on the pursuit of diversification?
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Chapter 7: Merger and Acquisition Strategies
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Sample Questions
Q1) Which of the following is NOT one of the three main restructuring strategies?
A) realigning
B) downsizing
C) downscoping
D) leveraged buyouts
Q2) All of the following were results of Citigroup's acquisition strategy EXCEPT (Chapter 7 Strategic Focus)
A) overly diversified
B) a much smaller, though global, business financial service firm
C) too large
D) lacking in synergy
Q3) Private synergy
A) occurs in most related acquisitions and allows firms to see increased returns.
B) is frequently achieved in conglomerates.
C) is not easy for competitors to understand and imitate.
D) is assessed by managers during the due diligence process.
Q4) (Refer to Case Scenario 2) What risks does Raptec run in spinning off Axio?
Q5) What are the attributes of a successful acquisition program?
Q6) What is an LBO and what have been the results of such activities?
Page 9
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Chapter 8: International Strategy
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Sample Questions
Q1) International diversification is a strategy through which a firm expands the sale of its goods and services across borders of global regions and countries into a potentially large number of geographic locations of markets. Instead of entering one or a few markets, international diversification means that the firm enters multiple markets.
A)True
B)False
Q2) Research suggests that wholly-owned subsidiaries and expatriate staff are inappropriate for service industries because those industries require close contact with customers, high levels of professional skills, specialized know-how, and customization.
A)True
B)False
Q3) Multinational firms have many opportunities to learn from their experiences in international markets, but they must have a strong R&D system to absorb the knowledge.
A)True
B)False
Q4) Identify and describe the major risks of international diversification.
Q5) Discuss the effect of international diversification on a firm's returns.
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Chapter 9: Cooperative Strategy
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Sample Questions
Q1) A cooperative agreement between a hotel chain and a casino operator would be viewed as a horizontal complementary strategic alliance because as separate entities, the two firms would compete for the same customer.
A)True
B)False
Q2) Synergistic strategic alliances such as the Renault-Nissan alliance discussed in the Opening Case focus on economies of scope by sharing their resources and capabilities to develop manufacturing platforms that can be used to Renault or Nissan cars.
A)True
B)False
Q3) Why are cooperative strategies often used when firms pursue international strategies? What are the advantages and disadvantages of international cooperative strategies?
Q4) Close monitoring, formal contracts, and constant vigilance against opportunism increase the probability of alliance success.
A)True
B)False
Q5) Identify the competitive risks associated with cooperative strategies.
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Chapter 10: Corporate Governance
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Sample Questions
Q1) According to the Chapter 10 Strategic Focus, corporate governance can be challenging for firms such as Rio Tinto with significant product and geographic diversification.
A)True
B)False
Q2) Both top executives and owners of the firm wish to diversify the firm to reduce risk.
A)True
B)False
Q3) In recent years, the number of individuals who are large-block shareholders have declined and been replaced by institutional owners such as mutual funds and pension funds.
A)True
B)False
Q4) Long-term incentives facilitates the firm's efforts through the board of directors' pay-related decisions to avoid potential agency problems by linking managerial compensation to the wealth of common shareholders.
A)True
B)False
Q5) (Refer to Case Scenario 1) What compensation structure would you recommend?
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Chapter 11: Organizational Structure and Controls
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Sample Questions
Q1) Which organizational structure will emphasize financial controls for headquarters' evaluation of operating units while the operating units will emphasize strategic controls within their units' performance?
A) Functional structure
B) Cooperative M-Form
C) SBU Form
D) Competitive M-Form
Q2) (Refer to Case Scenario 3) The centralization of Jewell's operations can be described as
A) centralized at corporate headquarters.
B) centralized at country office.
C) partially centralized in SBUs or divisions.
D) decentralized to divisions.
Q3) In the Chapter 11 Strategic Focus, Cisco went too far in trying to achieve cooperation among its various units resulting in managers attending several meetings and an overall slowed decision making process.
A)True
B)False
Q4) Discuss the difference between strategic and financial controls.
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Chapter 12: Strategic Leadership
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Sample Questions
Q1) The firm of Bergeron has existed for hundreds of years, having made exquisite clocks and watches. In its advertising it refers to clocks the firm made for such past royalty as Marie Antoinette and the Czars of Russia. Employees are constantly reminded of the firm's rich history and its long tradition of excellence of design and execution. Bergeron is motivating its employees through its
A) core ideology.
B) envisioned future.
C) organizational culture.
D) business strategy.
Q2) Employees usually have a strong preference for firms to use the internal managerial labor market when selecting top management team members and the CEO.
A)True
B)False
Q3) Which of the following is NOT related to a CEO having long tenure in his or her position?
A) more effective strategic control
B) greater influence on board decisions
C) more limited perspective
D) a broader knowledge base
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Page 14
Chapter 13: Strategic Entrepreneurship
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Sample Questions
Q1) Discuss the methods an organization can use to facilitate cross-functional integration.
Q2) A large, but declining, city in the Midwest is trying to lure businesses to relocate there and to encourage local entrepreneurs to start new businesses. In order to do this, the city has changed its tax laws and regulations concerning business creation and operations. This is an example of A) institutional entrepreneurship.
B) autonomous strategic behavior.
C) induced strategic behavior.
D) corporate entrepreneurship.
Q3) While both incremental and radical innovations can create value, incremental innovations have the potential to contribute more significantly to a firm's efforts to earn above-average returns.
A)True
B)False
Q4) Describe the three strategic approaches used to produce and manage innovation: internal corporate venturing, cooperative strategies, and acquisitions.
Q5) What is the importance of international entrepreneurship?
Q6) (Refer to Case Scenario 1) What resources appear to be missing?
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