华南理工大学企业战略管理(双语)考试题

华南理工大学企业战略管理（双语）期末考试试题A答案企业战略管理（双语）A卷一、 选择题（每题2分，共50分）1. In formulating a strategy, management is, in effect saying A)this is who we are and where we are headed. B)this is the strategic plan we have for making money in our particular line of business. C)we intend to make these moves to outmaneuver our rivals. D)among all the paths we could have chosen, we have decided to focus on these markets and customer needs, compete in this fashion, allocate our resources and energies in these ways, and use these particular approaches to doing business. E)this is our vision of what our business will be like in the years to come. Answer: D Difficulty: Medium 2. In a single-business company, the strategy-making hierarchy consists of A)business strategy and functional strategies. B)business strategy, functional strategies, and operating strategies. C)business strategy and operating strategy. D)managerial strategy, business strategy, functional strategies, and operating strategies. E)corporate strategy, functional strategies, and operating strategies. Answer: B Difficulty: Medium 3.SWOT analysis is A)a helpful tool for predicting whether the companys value chain is cost competitive. B)simple tool for sizing up a companys resource capabilities and deficiencies, its market opportunities, and the external threats to its future well-being. C)a helpful tool for evaluating whether a company is competitively stronger than its closest rivals. D)a helpful tool for benchmarking whether a firms strategy is closely matched to industry key success factors. E)a helpful tool for identifying the reasons why a company is or is not profitable. Answer: B Difficulty: Easy 4. A companys actual strategy is A)mostly hidden to outside view and is known only to top-level managers. B)typically planned well in advance and usually deviates little from the planned set of actions and business approaches because of the risks of making on-the-spot changes. C)best delegated to the companys board of directors because of their fiduciary responsibility, their ultimate responsibility for the companys well-being, and their strong business expertise. D)partly proactive and partly reactive to changing circumstances. E)partly a function of the strategic vision, partly a function of the target strategic and financial objectives, partly a function of market opportunities, and partly a function of the strategies being used by rival companies (particularly those companies that are industry leaders). Answer: D Difficulty: Medium 5. Factors that cause the rivalry among competing sellers to be weak include A)low buyer switching costs. B)rapid growth in buyer demand and high buyer costs to switch brands. C)high costs of exiting the market as compared to the costs of entering the market. D)a set of competitors that are quite diverse in terms of their strategies, objectives, and countries of origin. E)conditions where it is customary for rivals to collaborate closely with both their suppliers and their customers. Answer: B Difficulty: Medium 6.The competitive force of substitute products tends to be stronger in a given market when A)buyers are relatively comfortable with using substitutes and the costs to buyers of switching over to the substitutes are low. B)buyers view substitutes as likely to be in short supply from time to time. C)the quality and performance of the substitutes is well above what buyers need to meet their requirements. D)buyers have high psychic costs in severing existing brand relationships and establishing new ones. E)when demand for the industrys product is not very price sensitive. Answer: A Difficulty: Medium 7. Achieving a cost advantage over rivals entails A)concentrating on a narrow portion of the value chain and abandoning all other activities that create costs. B)being a first-mover in pursuing backward and forward integration and controlling as much of the value chain as possible. C)outmanaging rivals in controlling the cost drivers and finding creative ways to cut cost-producing activities out of the value chain. D)being a heavy user of offensive strategies and a light user of defensive strategies. E)producing a standard product, redesigning the product infrequently, and having minimal advertising. Answer: C Difficulty: Medium8. A companys strategic vision is best conceived as A)a road map of a companys futurea picture of its destination and managements rationale for going there. B)what business the company is presently in and why it does certain things in trying to please its customers. C)managements storyline of how it intends to make a profit with the chosen strategy. D)who we are and what we do. E)the general strategic outline of what the enterprise will need to do to outmaneuver rivals and achieve a competitive advantage. Answer: A Difficulty: Easy 9. Business strategy concerns A)the actions and approaches crafted by management to produce successful performance in one specific line of business. B)what business to be in and why C)which of several business models to use in pursuing company objectives. D)which of several competitive advantages to put of the companys resources behind. E)All of these. Answer: A Difficulty: Easy 10. A company attempting to be successful with a differentiation strategy has to A)study buyer needs and behavior carefully to learn what buyers consider important, what they think has value, and what they are willing to pay for. B)incorporate more differentiating features into its product/service than rivals. C)strive to raise buyer switching costs. D)have a well-known and respected brand name image. E)provide a top-of-the-line product to consumers. Answer: A Difficulty: Medium 11. Buyer bargaining power tends to be stronger when A)buyers are large and can demand concessions when purchasing large quantities. B)buyers purchase the item frequently and are well-informed about sellers products, prices, and costs. C)the costs incurred by buyers in switching to competing brands or to substitute products are relatively low. D)the products of rival sellers are weakly differentiated and buyers have considerable discretion over whether and when they purchase the product. E)All of the above Answer: E Difficulty: Easy 12. Crafting and executing strategy are top-priority managerial tasks because A)every company needs to be alert to the winds of change, new opportunities, and threatening developments. B)all company personnel, and especially senior executives, need to know the answer to who are we and where are we headed? C)there is a compelling need for managers to proactively shape how the companys business will be conducted and because a strategy-focused organization is more likely to be a stronger bottom-line performer than an organization that views the tasks of managing strategy as secondary. D)without clear guidance as to what the companys business model and strategic intent are, managerial decision-making is likely to be rudderless. E)they help communicate to shareholders and the entire investment community what it is we are trying to do and to achieve. Answer: C Difficulty: Easy 13.The best strategic alliances A)are highly selective, focusing on particular value chain activities and on obtaining a particular competitive benefit. B)are those whose objective is to speed next-generation products to market more quickly. C)aim at achieving greater supply chain efficiency. D)strive to reduce the number of industry key success factors. E)aim at raising the barriers to entry and insulating the partners against the impacts of the five competitive forces. Answer: A Difficulty: Medium 14. Which one of the following is not part of a companys macroenvironment? A)Conditions in the economy at large B)Population demographics and societal values and lifestyles C)Technological factors and governmental regulations and legislation D)Factors relating to competitive rivalry, a companys suppliers and customers, and competition from substitute products E)A companys resource strengths and weaknesses, competencies, and competitive capabilities Answer: E Difficulty: Easy 15. The competitive approach of a firm pursuing a global strategy A)entails little or no strategy coordination across countries. B)usually involves cross-subsidizing the prices in those markets where there are significant country-to-country differences in the product attributes that customers are most interested in. C)is essentially the same in all country markets where it competes but it may nonetheless allow for minor country-by-country variations where necessary to satisfy buyers. D)involves selling direct to buyers (usually via the companys own sales force) to avoid having to establish networks of wholesale/retail dealers in each country market. E)involves having a wide and diverse lineup of products (models and styles), with the basic product attributes varying according to buyer preferences in each country market. Answer: C Difficulty: Easy 16. The tests for evaluating the merits of one strategy over another and gauging how good a strategy is include: A)the strategic fit test, the social responsibility test, and the profitability test. B)the integrated business model test, the competitive strength test, and the profitability test C)the goodness of fit test, the competitive advantage test, and the performance test. D)the social responsibility test, the strategic intent test, and the competitive strength test. E)the opportunity-threat test, the ethical standards test, and the best strategy test. Answer: C Difficulty: Medium 17. The difference between a companys mission statement and the concept of a strategic vision is that A)the mission explains why it is essential to make a profit, whereas the strategic vision addresses what businesses to be in to try to make a profit. B)a mission statement typically concerns what we do, why we are here, and where are we now whereas the focus of a strategic vision is where we are going and why. C)a mission deals with what to accomplish in terms of financial performance whereas a strategic vision concerns what to accomplish in terms of strategic performance. D)a mission statement deals with where we are headed whereas a strategic vision provides the critical answer to how will we get there? E)a mission is about what a company is already doing and a vision concerns what a company ought to do. Answer: B Difficulty: Medium 18.The competitive threat that outsiders will enter a market is stronger when A)the products of rival firms are weakly differentiated, buyers have no strong preferences for the brands of existing producers, and buyers exhibit low brand loyalties. B)incumbents are unable or unwilling to fight vigorously to prevent a newcomer from gaining a market foothold. C)a newcomer can expect to earn attractive profits. D)there are interested entry candidates with sufficient expertise and resources to hurdle prevailing entry barriers. E)All of these. Answer: E Difficulty: Easy 19. A companys strategy evolves over time as a consequence of A)the need to keep strategy matched to changing market conditions and changing customer needs and expectations. B)the proactive efforts of company managers to fine-tune and improve one or more pieces of the strategy. C)new managerial priorities and changing managerial judgments about what the best future course for the company is. D)the need to respond to the actions and competitive moves of rival firms. E)All of these. Answer: E Difficulty: Easy 20. A company strength can relate to A)a skill or important expertise. B)its human assets and intellectual capital. C)an achievement or attribute that puts the company in a position of market advantage. D)organization assets such as proprietary technology, patents, quality control systems, a strong balance sheet,its partnerships or alliances with other organizations having expertise or capabilities that enhance its own competitiveness. E)All of these. Answer: E Difficulty: Easy 21. The chief role of functional strategies is to A)integrate the various operating-level strategies across the whole company into a unified whole. B)define the mission and strategic intent of each functional area. C)help specify the needed kinds of distinctive competencies and resource strengths. D)add relevant detail to the hows of the overall business strategy and competitive approach and provide a game plan for managing a particular activity in ways that support the overall business. E)create compatible degrees of strategic intent among a companys business functions. Answer: D Difficulty: Easy 22. Whether supplier-seller relationships in an industry represent a strong or weak source of competitive pressure is a function of A)whether the profits of suppliers are relatively high or low. B)the number of suppliers and the number of sellers. C)how aggressively rival sellers are maneuvering to form strategic alliances with each of the industrys major suppliers. D)whether suppliers can exercise sufficient bargaining power to influence the terms and conditions of supply in their favor and the extent of seller-supplier collaboration in the industry. E)whether the prices of the items being furnished by the suppliers are rising or falling. Answer: D Difficulty: Medium 23.A companys value chain consists A)the steps it goes through to convert its net income into value for shareholders. B)the primary activities it performs in creating value for its customers and the related support activities. C)the series of steps it takes to get a product from the raw materials stage into the hands of end-users. D)the activities it performs in transforming its competencies into distinctive competencies. E)the companys efforts and actions to build sustainable competitive advantage. Answer: B Difficulty: Medium 24.Generally, internal entry into a new business is more attractive than acquiring an existing firm in the targeted industry when A)the costs associated with internal startup are less than the costs of buying an existing company and there is ample time to launch the new business from the ground up. B)there will be positive effects on the entrants other existing businesses. C)the target industry is young, fragmented, and growing rapidly. D)all of the potential acquisition candidates are losing money. E)the target industry is comprised of several relatively large and well-established firms. Answer: A Difficulty: Medium 25. Strategy-making is A)primarily an individual responsibility rather than a group task. B)more of a collaborative group effort (that involves, to some degree, all managers and sometimes key employees) as opposed to being a function of a few high-level executives. C)first and foremost the function of a companys strategic planning staff. D)first and foremost the function and responsibility of a companys