Remerciez-le!

Remerciez @Admin pour avoir partagé cet document gratuitement, de la manière la plus simple, en partageant sur les réseaux sociaux.

First year CH 9 1. Strategic management is the set of managerial decisions and

First year CH 9 1. Strategic management is the set of managerial decisions and actions that determines the short-term performance of an organization. Answer: FALSE 2. The first step in the strategic management process is analyzing the external environment. Answer: FALSE 3. Within an industry, an environment can present opportunities to one organization and pose threats to another. Answer: TRUE 4. Evaluating an organization's intangible assets is part of doing an internal analysis in the strategic management process. Answer: TRUE 5. Activities that an organization does well or resources that it has available are called capabilities. Answer: FALSE 6. Exceptional or unique organizational resources are known as core capabilities. Answer: FALSE 7. A strong organizational culture may act as a significant barrier to accepting any changes in organizational strategies. Answer: TRUE 8. SWOT analysis includes an analysis of an organization's environmental opportunities and threats. Answer: TRUE 9. The final step in the strategic management process is implementing the objectives. Answer: FALSE 10. Corporate-level strategies are developed for organizations that run more than one type of business. Answer: TRUE 11. One method of implementing a growth strategy is to increase production capacity. Answer: TRUE 12. A trucking company that grows by purchasing a chain of gasoline stations is engaged in horizontal integration. Answer: FALSE HeshaM HassaN 1 01060202282 First year CH 9 13. Diversification is an example of a corporate retrenchment strategy. Answer: FALSE 14. If Burger King were to buy out Mom and Pop's Burgers, Burger King would be growing by vertical consolidation. Answer: FALSE 15. A stability strategy is developed when management decides it will remain profitable by maintaining the status quo in a rapidly changing external environment. Answer: TRUE 16. A retrenchment strategy is a renewal strategy designed to address organizational weaknesses that are leading to performance declines. Answer: TRUE 17. Turnaround is one type of renewal strategy. Answer: TRUE 18. The BCG matrix evaluates an organization's various businesses to identify which ones offer high potential and which drain organizational resources. Answer: TRUE 19. Stars, one of the four business groups in the corporate portfolio mix, are characterized by low growth and low market share. Answer: FALSE 20. ________ is the collection of managerial decisions and actions that determine the long-run performance of an organization. A) Planning B) Goal-oriented management C) Strategic management D) Leadership Answer: C 21. What is a strategic design for how a company intends to profit from its strategies, work processes, and work activities? A) business model B) strategic model C) strategic management model D) competitive model Answer: A 22. Studies of the factors that contribute to organizational performance have shown ________ relationship between strategic planning and performance. A) no HeshaM HassaN 2 01060202282 First year CH 9 B) a mixed C) a negative D) a positive Answer: D 23. Why is strategic management important? A) It has little impact on organizational performance. B) It is involved in many of the decisions that managers make. C) Most organizations do not change. D) Organizations are composed of similar divisions and functions. Answer: B 24. The first ________ steps of the strategic management process describe the planning that must take place. A) two B) three C) four D) five Answer: C 25. In the first step of strategic management, the mission of the firm answers the question, ________ A) What business should we be in? B) What is our reason for being in business? C) Who are our customers? D) Who are our creditors? Answer: B 26. What provides clues to what an organization sees as its purpose? A) the organization's goals B) the organization's strategies C) the organization's business model D) the organization's mission Answer: D 27. In the first step of strategic management, identifying the current strategies and goals provides ________. A) a basis to determine if the goals need to be changed B) an understanding of what the competition is doing C) an idea of what trends and changes are occurring D) important information about an organization's specific resources and capabilities Answer: A 28. In analyzing the environment, managers should know ________. A) the competition's stock price B) pending legislation that might affect the organization HeshaM HassaN 3 01060202282 First year CH 9 C) the organization's purpose D) the goals currently in place and the strategies currently being used Answer: B 29. When an organization is analyzing its labor supply, it is studying its ________. A) organizational culture B) internal environment C) external environment D) organizational structure Answer: C 30. ________ and ________ are outcomes from a study of the external environment. A) Threats; weaknesses B) Strengths; weaknesses C) Weights; measures D) Opportunities; threats Answer: D 31. The third step in strategic management is related to analysis of ________. A) the external environment B) the internal environment C) the alternatives the firm faces D) time pressures involved in serving the customer Answer: B 32. What are an organization's financial, physical, human, and intangible assets that are used to develop, manufacture, and deliver products or services to its customers? A) its resources B) its capabilities C) its opportunities D) its core competencies Answer: A 33. If a bank estimates the capabilities of its training and development department employees prior to implementing a new training program designed to change their method of providing customer service, it is completing what step in the strategic management process? A) doing an external analysis B) identifying the organization's current mission, goals, and strategies C) doing an internal analysis D) formulating strategies Answer: C 34. ________ are the organization's major value-creating skills, capabilities, and resources that determine the organization's competitive weapons. A) Strengths HeshaM HassaN 4 01060202282 First year CH 9 B) Opportunities C) Core competencies D) Weaknesses Answer: C 35. An example of a core competency of a firm is ________. A) the corporate reputation B) communicating with customers in their own languages worldwide C) developing least-squared exemptions within its accounting system D) evaluating tangible and intangible assets Answer: B 36. 45) What drawback of a strong organizational culture should a manager consider when completing the strategic management process? A) It can be more difficult to change. B) Employees have less understanding of the planning process. C) Employee attitudes tend to be strong, but their organizational values are weak. D) It cancels out any organizational distinctive competency. Answer: A 37. Corporate reputation is an organization's ________ resource. A) financial B) physical C) intangible D) human Answer: C 38. The merging of the analyses of internal and external factors influencing the organization's strategy is known as ________. A) complete studies B) organizational behavior and theory C) definitional analysis D) SWOT analysis Answer: D 39. Middle-level managers typically are responsible for ________ strategies. A) business B) organizational C) operational D) corporate Answer: A 40. ________ strategy determines what businesses an organization should be in. A) Business B) Organizational C) Operational HeshaM HassaN 5 01060202282 First year CH 9 D) Corporate Answer: D 41. When PepsiCo seeks to integrate the strategies of Pepsi, 7-Up International, and Frito-Lay, it is developing what level of business strategy? A) functional B) system C) management D) corporate Answer: D 42. What are the three main types of corporate strategies? A) concentration, integration, and diversification B) growth, stability, and renewal C) retrenchment, turnaround, and clicks-and-bricks D) cost leadership, differentiation, and focus Answer: B 43. There are three main types of growth strategies: ________. A) concentration, integration, and diversification B) concentration, integration, and exfoliation C) integration, diversification, and infiltration D) concentration, integration, and focus Answer: A 44. Growth through ________ is achieved when an organization chooses to grow by increasing its own business operations. A) concentration B) horizontal integration C) vertical integration D) related diversification Answer: A 45. In ________, the organization gains control of its outputs by becoming its own distributor. A) backward horizontal integration B) forward horizontal integration C) backward vertical integration D) forward vertical integration Answer: D 46. When an organization attempts to combine with other organizations in the same industry, the strategy is known as ________. A) concentration B) horizontal integration C) vertical integration HeshaM HassaN 6 01060202282 First year CH 9 D) a stability strategy Answer: B 47. If United Airlines were to merge with Northwest Airlines, this would be an example of what kind of growth strategy? A) horizontal integration B) acquisition C) expansion D) vertical integration Answer: A 48. An organization that is diversifying its product line is exhibiting what type of growth strategy? A) stability B) retrenchment C) growth D) maintenance Answer: C 49. When an organization attempts to combine with other organizations in different, but associated industries, the strategy is known as a ________ strategy. A) growth B) horizontal integration C) vertical integration D) related diversification Answer: D 50. When an organization attempts to combine with other organizations in different and disassociated industries, the strategy is known as a(n) ________ strategy. A) unrelated diversification B) horizontal integration C) vertical integration D) stability Answer: A 51. A stability strategy is particularly appropriate when ________. A) the firm is facing rapid uploads/Management/ch-9-q.pdf