question

Long-term objectives are needed at which level(s) in an organization?

answer

A) Corporate B) Divisional C) Functional *D) All of the above*

question

What principle is based on the belief that the true measure of a really good strategist is the ability to solve problems?

answer

A) Managing by crisis

question

What principle is built on the idea that there is no general plan for which way to go and what to do?

answer

E) Managing by subjectives

question

All of the following are listed among the "softer" factors in the Balanced Scorecard except

answer

E) stockholder equity.

question

Which level of strategy is most likely not present in small firms?

answer

C) Divisional

question

Microsoft opening its own retail stores is an example of which type of strategy?

answer

A) Forward Integration

question

Cadbury PLC selling its Australian drinks business to Asahi Breweries Ltd. of Japan is an example of which type of strategy?

answer

D) Divestiture

question

Burger King opening its first restaurant in Japan is an example of which type of strategy?

answer

D) Market Development

question

Integration strategies are sometimes collectively referred to as which of the following categories of strategies?

answer

C) Vertical integration

question

Web sites that sell products directly to consumers are examples of which type of strategy?

answer

C) Forward integration

question

Which of these strategies is effective when the number of suppliers is small and the number of competitors is large?

answer

D) Backward integration

question

What refers to a strategy of seeking ownership of, or increased control over a firm's competitors?

answer

D) Horizontal integration

question

In which situation would horizontal integration be an especially effective strategy?

answer

A) When an organization can gain monopolistic characteristics in a particular area or region without being challenged by the federal government for "tending substantially" to reduce competition.

question

Which strategy seeks to increase market share of present products or services in present markets through greater marketing efforts?

answer

A) Market penetration

question

Which of these is a basic activity of strategy evaluation?

answer

A) Reviewing the underlying internal and external factors that represent the bases of current strategies B) Measuring organizational performance C) Taking corrective actions *D) All of the above*

question

Too much emphasis on evaluating strategies

answer

A) may be expensive and counterproductive.

question

What is the cornerstone of effective strategy evaluation?

answer

A) Adequate and timely feedback

question

With the passage of time strategy evaluation is becoming

answer

A) increasingly difficult

question

Success today

answer

B) is no guarantee of success tomorrow

question

According to Rumelt, the final broad test of strategy is its

answer

A) Advantage

question

Competitive advantage normally is the result of superiority in resources, skills and

answer

B) position

question

What term refers to the need for strategists to examine sets of trends, as well as individual trends, in evaluating strategies?

answer

B) Consonance

question

Which one of Rumelt's criteria for evaluating strategies refers to the need for strategists to examine sets of trends?

answer

B) Consonance

question

If success for one organizational department means failure for another department, then strategies may be

answer

E) inconsistent

question

Modern organizational realities demand that employees demonstrate greater

answer

A) flexibility. B) innovation. C) creativity. D) initiative. *E) All of the above*

question

Strategy-evaluation activities should ideally be performed

answer

C) on a continuous basis

question

Corrective actions are almost always _______ except when external and internal factors have not significantly changed and the firm is progressing satisfactorily toward achieving stated objectives

answer

B) needed

question

In the course of strategy evaluation if you discover that major changes have occurred in the firm's internal strategic position, you should

answer

C) take corrective actions.

question

Changes in the organization's management, marketing, finance/accounting, production/operations, R&D and MIS strengths and weaknesses should be the focus of a revised

answer

B) IFE matrix

question

A revised ________ should indicate how effective a firm's strategies have been in response to key opportunities and threats.

answer

C) EFE matrix

question

Which of the following is a corrective action a company might take to correct unfavorable variances?

answer

A) Divesting a division B) Revising objectives C) Raising capital with stock or debt D) Allocating resources differently *E) All of the above*

question

What is the basis for quantitative financial evaluation?

answer

D) financial ratios

question

Also important in evaluating strategies are _______ criteria, like high absenteeism and turnover rates, or low employee satisfaction.

answer

B) qualitative

question

Financial ratios are used to compare a firm's performance over different time periods, compare the firm's performance to industry averages, and compare a firm's performance with

answer

E) the performance of competitors.

question

Most quantitative criteria are geared to ________ objectives rather than ________ objectives.

answer

C) annual; long-term

question

What corrective actions might a firm take during strategy evaluation?

answer

A) Revising the business mission B) Issuing stock C) Revising objectives D) Selling a division *E) All of the above*

question

According to author Alvin Toffler, what occurs when the nature, types, and speed of changes overpower an individual's or organization's ability and capacity to adapt?

answer

C) Future shock

question

Corrective actions should always

answer

A) strengthen an organization's competitive position in its industry.

question

Research suggests that which of the following is one of the best ways to overcome individuals' resistance to change in strategy evaluation?

answer

A) Participation

question

What aims to balance long-term with short-term concerns, financial with non-financial concerns, and internal with external concerns?

answer

B) The Balanced Scorecard approach

question

Which of the following is not a key attribute that serves as one of the evaluative criteria for Fortune's "America's Most Admired Companies?"

answer

D) Amount of physical resources

question

The strategy-evaluation process

answer

D) should foster mutual understanding and trust.

question

The strategy-evaluation process should foster

answer

A) mutual understanding.

question

What activity is defined as having alternative plans that can be put into effect if certain key events do not occur as expected?

answer

D) Contingency planning

question

Sustainability refers to the extent that an organization's operations and actions _______ the natural environment.

answer

A) protect B) mend C) preserve D) reflect good stewardship of *E) All of the above*

question

Business ethics, _______, and sustainability issues are interrelated and impact all areas of the comprehensive strategic-management model.

answer

A) social responsibility

question

Bad ethics can _______ strategic plans.

answer

B) derail even the best

question

_______ are the individuals primarily responsible for ensuring that high ethical principles are espoused and practiced in an organization.

answer

D) Strategists such as CEOs and business owners

question

Which of the following business actions is considered to be unethical?

answer

E) Misleading labeling

question

A code of business ethics is

answer

A) a document that provides behavioral guidelines that cover daily activities and decisions within an organization.

question

_______ refers to policies that require employees to report any unethical violations they discover or see in the firm.

answer

A) Whistle-blowing

question

Responsibility for encouraging ethical decision making and ensuring ethical behavior in a firm lies with

answer

D) both a firm's strategists and its managers.

question

More and more firms believe that ethics training and an ethics culture

answer

D) create strategic advantage.

question

Firms can align ethical and strategic decision making by

answer

D) monitoring departmental and corporate performance regarding ethical issues.

question

Bribery involves

answer

A) bestowing a gift to influence the recipient's conduct.

question

The U.S. Justice Department and many other organizations worldwide are _______ bribery.

answer

A) stepping up their initiatives against and their prosecution of

question

According to the text, the first social responsibility of any business is to

answer

E) None of the above

question

Social policy can best be defined as

answer

A) the responsibilities a firm has to employees, consumers, environmentalists, minorities, communities, shareholders, and other groups.

question

Firms should strive to engage in social activities that

answer

A) have economic benefits.

question

If a firm has a bad sustainability record this will

answer

C) cause investors to closely scrutinize the firm.

question

Which state generates the greatest number of megawatts of wind power?

answer

A) Texas

question

A document that discloses to shareholders information about a firm's labor practices, product sourcing, energy efficiency, environmental impact, and business ethics practices is known as

answer

B) a sustainability report.

question

It is _______ for a business to provide a sustainability report annually to the public.

answer

A) good business

question

_______ has 18 buildings in California alone powered only by solar energy.

answer

D) Target

question

Managers and employees today must be careful not to ignore, conceal, or disregard a pollution problem or they could

answer

A) be fired. B) be demoted. C) be held indirectly responsible for their firm's pollution. D) have their firm turn on them in a quest for leniency. *E) All of the above*

question

It has become _______, since uniform standards defining environmentally responsible company actions are rapidly being incorporated into our legal landscape.

answer

A) more and more difficult for firms to make "green" claims when their actions are not substantive or even true

question

What challenge facing all organizations requires managers to formulate strategies that preserve and conserve natural resources and control pollution?

answer

B) Ecological

question

In an effort to manage ecological challenges, many companies are

answer

A) moving environmental affairs from the staff side of the organization to the line side.

question

Preserving the environment should be a permanent part of doing business for which of the following reasons?

answer

E) More lenders are examining the environmental liabilities of businesses seeking loans.

question

A proactive environmental policy is likely to lead to

answer

B) conservation of energy.

question

_______ is a set of standards in fields such as environmental auditing, performance evaluation, and labeling that is adopted by thousands of firms worldwide to certify to their constituencies that they are conducting business in an environmentally friendly manner.

answer

A) ISO 14001

question

More than 2,000 scientists convened together in Copenhagen in March 2009 and reported to the world that global warming is

answer

B) worse than expected.

Flashcards About SB 450 Test 2

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards