Sustainable Business Practices
Exam Questions
Course Introduction
Sustainable Business Practices explores the strategies and principles companies adopt to operate responsibly in environmental, social, and economic dimensions. The course examines frameworks such as the triple bottom line, corporate social responsibility, and circular economy, emphasizing the integration of sustainability into core business operations. Topics include reducing environmental impact, ethical sourcing, stakeholder engagement, regulatory compliance, and the development of sustainable products and services. Through case studies and practical projects, students learn how leading organizations balance profitability with long-term societal well-being and ecological stewardship, preparing them to implement sustainability initiatives in various business settings.
Recommended Textbook
Strategic Management and Business Policy Globalization Innovation and Sustainablility 14th Edition
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Page 2
Chapter 1: Basic Concepts in Strategic Management
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Sample Questions
Q1) One of the benefits of strategic management is a clearer sense of strategic vision for the firm.
A)True
B)False
Answer: True
Q2) Amazon.com, founded by Jeff Bezos and reflecting his vision, is an example of which mode of strategic decision making?
A) adaptive
B) entrepreneurial
C) logical incrementalism
D) planning
E) none of the above
Answer: B
Q3) The S in SWOT stands for A) strategies.
B) scanning.
C) strengths.
D) societal.
E) sociocultural.
Answer: C
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Chapter 2: Corporate Governance
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Sample Questions
Q1) A careless director or directors can be held personally liable for harm done to the corporation if they failed to act with
A) codetermination.
B) figurehead role.
C) cumulative voting.
D) accountability.
E) due care.
Answer: E
Q2) The board of directors has an obligation to approve all decisions that might affect the long-run performance of the corporation.
A)True
B)False
Answer: True
Q3) The top criterion for selecting a good director in U.S.corporations is their willingness to challenge management when necessary.
A)True
B)False
Answer: True
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Chapter 3: Ethics and Social Responsibility in Strategic Management
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Sample Questions
Q1) Kohlberg places 80 percent of U.S.adults in the principled level of development.
A)True
B)False
Answer: False
Q2) The approach to ethical behavior which proposes that human beings have certain fundamental rights that should be respected in all decisions, thus avoiding interfering with the rights of others is called
A) individual rights approach.
B) mercantilism approach.
C) utilitarian approach.
D) justice approach.
E) moral imperialism approach.
Answer: A
Q3) Research indicates that when faced with a question of ethics, managers tend to ignore codes of ethics and try to solve their dilemma on their own.
A)True
B)False
Answer: True
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Chapter 4: Environmental Scanning and Industry Analysis
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Sample Questions
Q1) Which of the following is true in regards to competitive intelligence?
A) The Economic Espionage Act makes it illegal to steal any material that a business has taken "reasonable efforts" to keep secret.
B) The Society of Competitive Intelligence Professionals urges strategists to stay within the law and to act ethically when searching for information.
C) The Society of Competitive Intelligence Professionals states that illegal activities are foolish because the vast majority of worthwhile competitive intelligence is available publicly via annual reports, websites, and libraries.
D) A number of firms hire consultants with questionable reputations who do what is necessary to get information when the selected methods do not meet SPIC ethical standards or are illegal.
E) all of the above
Q2) List eight current sociocultural trends in the United States that are transforming North America and the world.
Q3) A buyer may be powerful when changing suppliers costs a great deal.
A)True
B)False
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Chapter 5: Internal Scanning and Organizational Analysis
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Sample Questions
Q1) According to Barney's VRIO framework, the firm's exploitation of a competency pertains to
A) value.
B) rareness.
C) imitability.
D) organization.
E) durability.
Q2) According to the text, which one of the following is NOT descriptive of a corporation's culture?
A) A corporation's culture is a collection of beliefs, expectations, and values learned and shared by the corporation's members and transmitted from one generation of employees to another.
B) Corporate cultures are only temporary and can be easily changed.
C) Culture gives a company a sense of identity.
D) The culture reflects the company's values.
E) Cultures have a powerful influence on the behavior of managers and can strongly affect a corporation's ability to shift its strategic direction.
Q3) What is R&D intensity?
Q4) Discuss the three basic organizational structures.
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Chapter 6: Strategy Formulation: Situation Analysis and Business Strategy
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Sample Questions
Q1) One risk of a cost leadership strategy is that the technology for production or of products may change.
A)True
B)False
Q2) Discuss competitive strategy differences between a fragmented and a consolidated industry.
Q3) The first firm through a strategic window can occupy a propitious niche and discourage competition (if the firm has the required internal strengths).
A)True
B)False
Q4) One success factor to a strategic alliance is the ability to identify likely partnering risks and deal with them when the alliance is formed.
A)True
B)False
Q5) One danger of D'Aveni's concept of hypercompetition is that it may lead to an overemphasis on short-term tactics over long-term strategy.
A)True
B)False
8
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Chapter 7: Strategy Formulation: Corporate Strategy
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Sample Questions
Q1) According to the BCG Growth Share Matrix, products that typically bring in far more money than is needed for maintenance of their market share are called
A) cash cows.
B) lost leaders.
C) dogs.
D) question marks.
E) stars.
Q2) Underlying the BCG Growth Share Matrix is the concept of the A) product life cycle.
B) industry life cycle.
C) market size.
D) experience curve.
E) industry profitability.
Q3) Which of the following is NOT one of the limitations of the BCG Growth Share Matrix?
A) It is too simplistic.
B) The link between market share and profitability is questionable.
C) Growth rate is only one aspect of industry attractiveness.
D) There are too many aspects of overall competitive position included.
E) Small competitors with fast-growing market share are ignored.
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Page 9
Chapter 8: Strategy Formulation: Functional Strategy and Strategic Choice
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Sample Questions
Q1) When Smith & Wesson puts its name on others' products like men's cologne, it is using which marketing strategy?
A) demand pricing
B) brand pricing
C) brand extension
D) penetration extension
E) demand extension
Q2) When Colgate-Palmolive and Unilever take a successful product that they marketed in one part of the world and market it elsewhere, they are following a market development strategy.
A)True
B)False
Q3) When a company spends a large amount of money on trade promotion in order to gain or hold shelf space in retail outlets, a company is using a ________ strategy.
A) pull
B) push
C) financial
D) dedicated line
E) dynamic pricing
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Chapter 9: Strategy Implementation: Organizing for Action
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Sample Questions
Q1) What is synergy? According to Goold and Campbell, what are the six forms it can take?
Q2) According to a survey of Fortune 500 firms, the most frequently cited problem with implementing a strategic change is that implementation took more time than originally planned.
A)True
B)False
Q3) Stage III (Divisional Structure)is the point when the entrepreneur is replaced by a team of managers who have functional specialization.
A)True
B)False
Q4) Microbreweries that make beer for sale for local customers, use guerilla warfare against national brewers like Anheuser-Busch.
A)True
B)False
Q5) Poor implementation is often blamed for strategic failure.
A)True
B)False
Q6) Discuss the five stages of international development.
Page 11
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Chapter 10: Strategy Implementation: Staffing and Directing
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Sample Questions
Q1) According to Hofstede, which cultural dimension describes the extent to which a society emphasizes the importance of hard work, education, and persistence as well as the importance of thrift?
A) uncertainty avoidance
B) masculinity-femininity
C) individualism-collectivism
D) long-term orientation
E) power distance
Q2) A good retrenchment strategy can be implemented well in terms of organizing, but poorly in terms of staffing.
A)True
B)False
Q3) Which of the following is NOT one of TQM's objectives?
A) greater flexibility in adjusting to customers' shifting requirements
B) lower cost through quality improvement and elimination of non-value-adding work
C) increased alignment of employee goals with management's objectives
D) quicker, less variable response in processes to customer needs
E) better, less variable quality of the product and service
Q4) What are Hofstede's dimensions of national culture?
Page 12
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Chapter 11: Evaluation and Control
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Sample Questions
Q1) Suboptimization occurs when
A) a division or functional unit views itself as a separate entity and refuses to cooperate with other divisions or units to the detriment of the organization as a whole.
B) there is a failure to produce at or near full capacity.
C) individuals are placed into positions not suited to their abilities.
D) managers tend to focus more of their attentions on those aspects which are measurable than on those which are not.
E) managers concentrate too much on short-term performance objectives.
Q2) What is ERP? What are the three reasons why ERP could fail?
Q3) The revenue center is measured in terms of efficiency.
A)True
B)False
Q4) Corporations will emphasize output controls when they are following a strategy of A) concentric diversification.
B) conglomerate diversification.
C) retrenchment.
D) divestment.
E) vertical integration.
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Chapter 12: Suggestions for Case Analysis
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Q1) According to the text, what percentage of portfolio managers use annual reports when making decisions?
A) 20%
B) 35%
C) 50%
D) 60%
E) 80%
Q2) Which of the following is a red flag according to Schilit?
A) cash flow from operations drops below net income
B) accounts receivable growing faster than sales
C) fluctuating gross margins over time
D) nepotism on the board of directors
E) all of the above
Q3) The quick ratio is also known as the
A) key profitability ratio.
B) EPS.
C) acid test.
D) asset turnover.
E) key activity ratio.
Q4) What are constant dollars and why are they important?
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