Advanced Management
Exam Materials
Course Introduction
Advanced Management is designed to equip students with in-depth knowledge and practical skills necessary for handling complex managerial challenges in contemporary organizations. The course covers advanced topics such as strategic decision-making, leadership dynamics, organizational change, performance management, innovation, and global business strategies. Through case studies, simulations, and collaborative projects, students will critically analyze real-world business scenarios and develop robust solutions. Emphasis is placed on integrating theoretical frameworks with practical applications to cultivate effective leaders capable of driving organizational success in competitive environments.
Recommended Textbook
Strategic Management and Business Policy 13th Edition by Thomas L. Wheelen
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12 Chapters
1260 Verified Questions
1260 Flashcards
Source URL: https://quizplus.com/study-set/1452
Page 2
Chapter 1: Basic Concepts in Strategic Management
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109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/28808
Sample Questions
Q1) One member of the European Union (EU)is Chile.
A)True
B)False
Answer: False
Q2) The type of strategy which achieves corporate and business unit objectives and strategies by maximizing resource productivity is
A)functional.
B)operational.
C)business.
D)product.
E)corporate.
Answer: A
Q3) Members of the European Union (EU)include all of the following EXCEPT
A)Ireland.
B)Malaysia.
C)Belgium.
D)France.
E)Slovakia.
Answer: B
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Page 3
Chapter 2: Corporate Governance
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97 Verified Questions
97 Flashcards
Source URL: https://quizplus.com/quiz/28812
Sample Questions
Q1) According to ________ theory, _______ directors tend to identify with the corporation.
A)agency, inside
B)corporate governance; inside
C)stewardship; inside
D)corporate governance; affiliated
E)stewardship; outside
Answer: C
Q2) The lowest degree of involvement for a board of directors is the catalyst level of interaction.
A)True
B)False
Answer: False
Q3) The more active professional boards are being replaced by the board as a rubber stamp of the CEO.
A)True
B)False
Answer: False
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Chapter 3: Ethics and Social Responsibility in Strategic Management
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97 Verified Questions
97 Flashcards
Source URL: https://quizplus.com/quiz/28813
Sample Questions
Q1) Which of the following statements is true concerning secondary stakeholders?
A)Secondary stakeholders are those who have only an indirect stake in the corporation, but who are affected by corporate activities.
B)Secondary stakeholders usually include non-governmental organizations (like Greenpeace)and trade associations.
C)Because the corporation's relationship with each of these stakeholders is usually not covered by any written or verbal agreement, there is room for misunderstanding.
D)Aside from competitors, secondary stakeholders are not usually monitored by the corporation in any systematic fashion.
E)all of the above
Answer: E
Q2) A company may have some stakeholders of which it is only marginally aware.
A)True
B)False Answer: True
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Page 5
Chapter 4: Environmental Scanning and Industry Analysis
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116 Verified Questions
116 Flashcards
Source URL: https://quizplus.com/quiz/28814
Sample Questions
Q1) McDonald's and Olive Garden are in the same strategic group.
A)True
B)False
Q2) Which barrier to entry is demonstrated by Microsoft's MS-DOS operating system?
A)government policy
B)switching costs
C)cost disadvantages independent of size
D)capital requirements
E)economies of scale
Q3) The willingness to reject unfamiliar as well as negative information is called issues priority.
A)True
B)False
Q4) According to the text, one reason environmental uncertainty is a threat to strategic managers is because
A)it is a costly and time consuming process.
B)the strategic manager cannot control the environment.
C)it forces the strategic manager to be reactive.
D)it hampers their ability to develop long-range plans.
E)there are too many uncontrollable variables.
Page 6
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Chapter 5: Internal Scanning and Organizational Analysis
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109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/28815
Sample Questions
Q1) A value chain is a linked set of value-creating activities.
A)True
B)False
Q2) In Christensen's book, The Innovator's Dilemma, he explains that managers remain with certain technologies based on
A)return of investment.
B)net present value.
C)cost reduction.
D)total operating expenses.
E)time spent during technology implementation.
Q3) Discuss the two characteristics that determine the sustainability of a firm's distinctive competency.
Q4) Intermittent manufacturing systems reap benefits from economies of scale.
A)True
B)False
Q5) Describe Barney's VRIO framework.
Q6) Define a value chain and the significance of the center of gravity.
Q7) An example of an intermittent manufacturing system is an auto body repair shop.
A)True
B)False
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Chapter 6: Strategy Formulation: Situation Analysis and Business Strategy
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) Business strategy is composed of
A)corporate and competitive strategy.
B)functional and divisional strategy.
C)competitive and cooperative strategy.
D)corporate and cooperative strategy.
E)divisional and competitive strategy.
Q2) SWOT is an acronym that stands for Strategy, Weaknesses, Opportunities, and Threats.
A)True
B)False
Q3) Wal-Mart, McDonald's and Alamo are all examples of companies following which of Porter's competitive strategies?
A)differentiation
B)cost leadership
C)differentiation focus
D)competitive advantage
E)cost focus
Q4) Most entrepreneurial ventures follow focus strategies.
A)True
B)False
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Chapter 7: Strategy Formulation: Corporate Strategy
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103 Verified Questions
103 Flashcards
Source URL: https://quizplus.com/quiz/28817
Sample Questions
Q1) The most logical growth strategy for a corporation having a strong competitive position possessing a high market share in a highly attractive industry is A)concentration.
B)conglomerate integration.
C)concentric diversification.
D)stability.
E)retrenchment.
Q2) As defined by the text, synergy is the concept
A)that involves adding different products or divisions to the corporation.
B)that supports the acquisition of one corporation by another.
C)that two firms can generate more profits together than separately.
D)that a corporation can enter one or more businesses that are necessary to manufacture its own product.
E)that two functional areas of a corporation can coordinate their work as a team.
Q3) Discuss the three general orientations comprising directional strategy?
Q4) What are the three key issues that corporate strategy deals with?
Q5) Define a retrenchment strategy.Discuss the more popular options.
Q6) Why is growth a very attractive strategy?
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Chapter 8: Strategy Formulation: Functional Strategy and Strategic Choice
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105 Verified Questions
105 Flashcards
Source URL: https://quizplus.com/quiz/28818
Sample Questions
Q1) A company which has invested so heavily in a particular strategy that it will not consider a change in this strategy even if it is not successful, would be an example of which strategy to avoid?
A)follow the leader
B)hit another home run
C)arms race
D)do everything
E)losing hand
Q2) The continuous improvement system was developed in China.
A)True
B)False
Q3) Outsourcing is the reverse of vertical integration.
A)True
B)False
Q4) Give an example of a technological leader and a technological follower.
Q5) The key to outsourcing is to purchase from outside only those activities that are not key to the company's distinctive competencies.
A)True
B)False
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Chapter 9: Strategy Implementation: Organizing for Action
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109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/28819
Sample Questions
Q1) Discuss Chandler's conclusion concerning strategy.
Q2) When the drive of the entrepreneur is no longer enough to keep the Stage I company from floundering, this type of crisis is called
A)a crisis of autonomy.
B)a crisis of confidence.
C)a crisis of clarity.
D)a crisis of differentiation.
E)a crisis of leadership.
Q3) Standard operating procedures typically detail the various activities that must be carried out to complete a corporation's programs.
A)True
B)False
Q4) Where a change could begin refers to which aspect of the matrix of change?
A)feasibility
B)sequence of execution
C)location
D)pace and nature of change
E)stakeholder evaluations
Q5) Discuss the network structure.
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Chapter 10: Strategy Implementation: Staffing and Directing
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) IHOPs CEO, Julia Stewart, built a reputation as a turnaround specialist.
A)True
B)False
Q2) Because an organization's culture can exert a powerful influence on the behavior of all employees, it can strongly affect a company's ability to shift its strategic direction.
A)True
B)False
Q3) A dynamic industry expert is someone with an analytical mind who is highly knowledgeable in other industries and can manage diverse product lines.
A)True
B)False
Q4) What are the four elements of the MBO process?
Q5) Succession planning has become the most important topic discussed by boards of directors.
A)True
B)False
Q6) What are the four general methods of managing two different cultures?
Q7) What information should an action plan include?
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Chapter 11: Evaluation and Control
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105 Verified Questions
105 Flashcards
Source URL: https://quizplus.com/quiz/28810
Sample Questions
Q1) The use of timely, quantifiable standards guarantees good performance.
A)True
B)False
Q2) The inventory turnover ratio is an example of a(n)
A)steering control.
B)activity control.
C)behavior control.
D)output control.
E)influencing control.
Q3) The comparison of the expected cost of production against the actual cost of production typically occurs in the A)investment center.
B)revenue center.
C)standard cost center.
D)profit center.
E)expense center.
Q4) Discuss the benchmarking process.
Q5) What is the most commonly used measure of corporate performance (in terms of profits).Discuss the limitations of using this measure.
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Chapter 12: Suggestions for Case Analysis
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) The calculation of ratios from financial data is referred to as
A)S)W.O.T. analysis.
B)ratio analysis.
C)receivables analysis.
D)integration analysis.
E)diversification analysis.
Q2) The amount of change from one year to the next in GDP indicates how much that country's economy is growing.
A)True
B)False
Q3) Which financial ratio measures the number of times that average inventory of finished goods was turned over or sold during a period of time?
A)days of inventory
B)asset turnover
C)inventory turnover
D)fixed asset turnover
E)average collection period
Q4) What are constant dollars and why are they important?
Q5) What are common-size statements?
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