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Multiple choiceChapter 11. The prescriptive, deliberate or planned approach views strategic management as a _A. highly systematized process B. deterministic process C. highly systematized and deterministic process D. consistent pattern of behaviour2. _ is used to refer to strategic formulation, implementation and evaluation, with _ referring only to strategic formulation.a.Strategic planning; strategic managementb.Strategic planning; strategic processingc.Strategic management; strategic planningd.Strategic management; strategic processinge.Strategic implementation; strategic focus3. What can be defined as the art and science of formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives?a. Strategy formulationb. Strategy evaluationc. Strategy implementationd. Strategic management4. Conducting research to determine internal strengths and weaknesses is performed during which stage of strategic management? _a.Formulationb. Implementationc. Evaluationd. Feedbacke. Goal-setting5. What are the three stages of the strategic management process?a. Conflict, resolution and implementationb. Formulation, implementation and evaluationc. Formulation, execution and rewardd. Formulation, implementation and resolutione. Goal-setting, implementation and feedback6. An important activity in _ is taking corrective action.a. strategy evaluationb. strategy implementationc. strategy formulationd. strategy leadershipe. all of the above7. _ means mobilizing employees and managers to put strategies into action.a. Formulating strategyb. Strategy evaluationc. Implementing strategyd. Strategic advantage8. _ is not a strategy-implementation activity.a. Taking corrective actionsb. Establishing annual objectivesc. Devising policiesd. Allocating resourcese. Motivating employees9. _ skills are especially critical for successful strategy implementation.a. Interpersonalb. Technicalc. Conceptuald. Thinkinge. Marketing10. Strategy evaluation is necessary ernal and external factors are constantly changing.b.the SEC requires strategy petitors change their strategies.d.the IRS requires strategy evaluation.e.firms must take corrective actions.11. Which of these is often considered the first step in strategic planning? _a. Developing a vision statementb. Establishing goals and objectivesc. Making a profitd. Developing a mission statemente. Determining opportunities and threats12. What are enduring statements of purpose that distinguish one business from other similar firms? _a. policiesb. mission statementsc. objectivesd. rulese. employee conduct guidelines13. Which of the following is not included in the strategic management model?a.Measure and evaluate performance.b.Perform internal research to identify customers.c.Establish long-term objectives.d. Implement strategies.e. Develop mission and vision statements14.Usually, external opportunities and threats are:A.uncontrollable by a single organization.B.controlled by governments.C.not as important as internal strengths and weaknesses.D.key functions in strategy implementation.E.key functions in strategy exploitation.15. Military strategy is based on an assumption of _, whereas business strategy is based on an assumption of _.a. conflict; cooperationb. conflict; competitionc. cooperation; conflictd. competition; conflicte. cooperation; competition16. Competence Based Approach argues that a. competitive advantage arises from an organizations internally developed core competence rather than from its environmentb. competitive advantage arises from positioning a firm to take advantage of opportunities and overcome or circumvent threatsc. competitive advantage arises from cooperationd. competitive advantage arises from opportunities17. Resource-based view approach argues that an organization should exploit its _relative to _ in the external environmenta. position; opportunitiesb. basic competencies; opportunitiesc. financial assets; opportunitiesd. core competencies; opportunitiesChapter 2 1. The purpose of the mission statement is to communicate to _a. all shareholdersb. employeesc. all stakeholdersd. managers2. A good mission statement should _a. define what the organization isb. limit to exclude some venturesc. give detail plans of allocating resourcesd. be broad enough to allow for growthe. distinguish a firm from all others3. According to McGinnis, a mission statement should be all of the following except:a.it should be specific enough to control creative growth.b.it should be stated in clear terms.c.it should distinguish an organization from all others.d. it should define what an organization is.e.it should serve as a framework for evaluating both current and prospective activities.4. It is the _who determines what a business is.a.president.b.customerc.stakeholder.d. CEO.5. What the customer buys and considers value is alwaysa.price.b.function c.technology.d. utility6 . Which mission statements are good mission statement _a. AT&Ts (美国电报电话公司)mission statement focuses on communicationb. Exxons (埃克森石油公司)mission statement focuses on oil and gasc. Union Pacifics (太平洋联合铁路公司)mission statement focuses on transportation d. Universal Studios( 环球电影公司)mission statement focuses on movies Chapter 31. Financial crisis that reverberated around the world is belong to a.far environments factors b.near environments factors c. internal environments factorsd. industrial factors2. Three broad ways that clusters affect competition: _a.Increasing the productivity of companies based in the areab.Driving the direction and pace of innovationc. Stimulating the formation of new businesses within the cluster d. Bringing entry barriers to the area3. Which of the following choices does not belong to industry properties_?a. Economies of Scaleb. Barriers to market entryc. A firms core competenced. Product differentiatione. Level of competitiveness4. According to I/O theorists, which of the following contributes least to firm performance?a. Economies of scaleb. Barriers to market entryc. Product differentiationd. Internal resourcese. Level of competitiveness5. _ is not part of an external audit.a.Analyzing competitorsb.Analyzing the firms financial ratiosc.Analyzing available technologiesd. Studying the political environmente. Analyzing social, cultural, demographic and geographic forces6. When interest rates rise, discretionary自由决定的income _, and the demand for discretionary goods _.a. rises; risesb. declines; risesc. rises; fallsd. declines; fallse. stays the same; rise7. When an industry relies heavily on government contracts, _ forecasts can be the most important part of an external audit.a. economicb. politicalc. technologicald. competitivee. multinational8. Technological advancements can create new _ advantages that are more powerful than existing advantages.a. economicb. socialc. environmentald. competitivee. comparative9. The Internet is changing the nature of opportunities and threats by doing all of the following except:a. altering the life cycles of products.b. decreasing the speed of distribution.c. erasing limitations of traditional geographic markets.d. creating new products and services.e. changing the historical trade-off between production standardization and flexibility.10. Intensity of competition _ in lower-return industries.a. is lowestb. is non-existentc. is highestd. is not importante. fluctuates11. Five competitive forces, according to Michael Porter, create vital opportunities and threats to organizations. Which of the following is not a competitive force?a.New entrantsb.Rivalry among existing firmsc.Bargaining power of unionsd.Bargaining power of supplierse.Bargaining power of buyers12. _, according to Porter, is usually the most powerful of the five competitive forces.a.Potential development of substitute productsb.Bargaining power of suppliersc.Bargaining power of consumersd.Rivalry among competing firmse.Potential entry of new competitors13. Whenever new firms can easily enter a particular industry, the intensity of competitiveness among firms_a. stays the same.b. increases.c. decreases.d. neutralizes.e. Fluctuates14. If suppliers are unreliable or too costly, which of these strategies may be appropriate?a.Horizontal integrationb.Backward integrationc.Market penetrationd.Forward integratione.Concentric diversification15. Bargaining power of consumers is _ when the products being purchased are standard or undifferentiated.a.marginalb.lowc.highd.negativee.not necessary16. Globalization of industries is occurring for all of these reasons except: _a. a worldwide trend toward similar consumption patterns.b. the emergence of global buyers.c. a worldwide trend toward different consumption patterns.d. e-commerce and the instant transmission of money and information across continents.e. the emergence of global sellers.17. _ is the first step in designing an EFE Matrix.a.Identifying key external factors in the industryb.Summing the weighted score for each competitorc.Calculating the sales of each competitord.Drawing the horizontal and vertical lines for the matrixe.Determining four competitors18.What is the range for a firms total weighted score in an External Factor Evaluation Matrix?a.0 to 5b.0 to 4c.1 to 5d.1 to 4e.0 to 1019. One difference between CPM and EFE is thata.CPM includes both internal and external issues.b.the weight and total weighted score mean opposite.c.CPM ratings range from 1 to 10.d. CPM is performed only for the company, whereas EFE is performed for both the company and the competitors.e.CPM is only used in small firms20. Strategic groups of firms within an industry follow _ or have very _ dimensionsa.the same strategies, similarb.different strategies,differentc.the same strategies, differentd.different strategies, similar21. Potential development of substitute products will increase when consumers switching costs _a.increaseb.decreasec.do not changed.become highChapter 41. There are three activities in the internal Analysis process_a. Resources, capabilities/competencies,core competencies analysis b.Value Chain petitor analysisd.Comparative analysis2. A competence is an attribute or collection of attributes possessed by _of the firms in an industrya.fewb.severalc.manyd.all or most3. Resources employed by a firm includes _a.tangible petitive angible resources d. human resources4. _and _do not belong to intangible resourcesa.Financial Resourcesb.Technological Resourcesc.Reputation d. Physical Resources5. Which one of the following are tangible resources?a.Financial Resourcesb.Technological resourcesc.Reputation d. Human resources6. _ exemplifies the complexity of relationships among the functional areas of business.a. Government auditb. External auditc. Financial ratio analysisd. Environmental scanninge. Distribution strategy7. Which of the following are primary activities in a firms value chain_?a.inbound logistics b.outbound logisticsc.marketing & sales d. procurement e. operations8. Which of the following are not support activities_?a.technology development b.outbound logisticsc.human resource management d. firm infrastructure e. procurement9. Firm infrastructure consists of a number of activities including _a.general management b.finance & accountingc.legal & government affairs d. quality management e. planning10. The initial step to implementing value chain analysis is_a. attaching a cost to each discrete activity.b. establishing costs in terms of time. c. establishing costs in terms of money.d. dividing a firms operations into specific activities or business processes.11. In the “power law” formula y = axb , a represents a.the labor hours required to build unit #x b.the theoretical labor hours required to build the first unit producedc.the rate of learning d. the number (count) of an item in the production sequence 12. According to the learning curve theory, when output or production _, the reduction in time per unit affected by the learning curve ratea.doublesb.triples c.is four times to the initial one d.is five times to the initial one 13. Learning rate is not useful when _duction is sporadic b.there is no way to improve the production duction quantities are very small d. rules & regulations limit the production rate e. each item produced is significantly different from the preceding item14. In an IFE matrix, rating number “3” represents _a. major weakness b.minor weaknessc.minor strength d. major strength15. In an IFE matrix, rating number “2” represents _a. major weakness b.minor weaknessc.minor strength d. major strength16. If a firms total weighted score is 2.1 in an IFE matrix, it indicates that _ a. the firm is being weak internally b.the firms strategies is not capitalizing on opportunities or avoiding threatsc.the firm is being a strong internal position d. the firms response is outstanding to threats and weaknessesChapter5-61. Corporate strategy is _a. more detail b.more value orientedc.more conceptual d. concerned with the whole firm2. A firm directs its resources to the profitable growth of a single product, in a single market, with a single dominant technology. The firm pursues_a. diversificationb.horizontal integration Strategyc.vertical integration Strategy d. concentration strategy3. If a firms present suppliers are expensive and unreliable in meeting the firms needs for parts, components and/or raw materials, it should pursue a _a. concentration Strategyb.horizontal integration Strategyc.backward integration Strategyd.forward integration Strategy4. An example of _ strategy is establishing Web sites to sell products directly to consumers.a.backward duct developmentc.forward integrationd.horizontal integration5. A _ strategy seeks to increase market share of present products or services in present markets through greater marketing efforts.a.market penetrationb.forward integrationc.market developmentd. product development6. Adding new, unrelated products or services for present customers is called_a.forward integration.b.concentric diversification.c.conglomerate diversification. d. horizontal diversification7. Backward integration is effective in all of these except:a.when an organization competes in an industry that is growing rapidly.b.when an organization has both capital and human resources to manage the new business of supplying its own raw materials.c.when an organization needs to acquire a needed resource quickly.d.when the advantage of stable prices are not important.8. When a US company first begins to export to India, it is an example ofa.market developmentb.market duct developmentd. . horizontal integration.9. When an organization competes in an industry characterized by rapid technological developments, _ is an appropriate duct developmentc.backward integrationd.market penetration10. _are terms that describe diversification strategiesa.Concentric diversification b.conglomerate diversificationc.vertical diversificationd. horizontal diversification.11. Adding new, unrelated products or services is calleda.horizontal diversification.b.concentric diversification.c.backward integration.d.conglomerate diversification.12. An airline eliminating service at 10 major cities to financially survive is an example of_a.divestiture.b.backward integration.c.liquidation.d. retrenchment13. When a division is responsible for an organizations overall poor performance, _ strategy should be implemented.a.backward integrationb.divestiturec.forward integrationd.cost leadershipe.concentric diversification14.Selling all of a companys assets in parts for their tangible worth is called_a.joint venture.b.divestiture.c.concentric diversification.d.liquidation.e.horizontal integration15. Defensive strategies includes_a.retrenchmentb.divestiture.c.diversification.d.liquidation.16. _ is effective when the stockholders of a firm can minimize their losses by selling the organizations assets.a.Integrationb.Differentiationc.Diversification

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