Advanced Management Topics
Test Bank
Course Introduction
This course explores contemporary and emerging issues in management through an in-depth analysis of advanced topics such as strategic leadership, organizational change, innovation management, global business strategies, and ethical decision-making. Students will critically examine case studies, engage in group discussions, and apply advanced management theories and frameworks to real-world business scenarios. Emphasis is placed on developing analytical, problem-solving, and leadership skills necessary for navigating complex organizational environments and driving sustainable business success in a dynamic global marketplace.
Recommended Textbook
Strategic Management Creating Competitive Advantages 8th Edition by Gregory Dess
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12 Chapters
1723 Verified Questions
1723 Flashcards
Source URL: https://quizplus.com/study-set/2713
Page 2
Chapter 1: Strategic Management: Creating Competitive Advantages
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174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/54121
Sample Questions
Q1) The ROI on a sustainability project generally is easy to quantify.
A)True
B)False Answer: False
Q2) Stockholders in a company are the only individuals with an interest in the financial performance of the company.
A)True
B)False
Answer: False
Q3) Northrup Grumman saved $2 million in energy costs at a single facility by installing reflective roofs and fluorescent lighting, replacing old equipment, and making minor temperature and humidity-level adjustments. This is an example of the benefit of A)increasing revenue efforts.
B)marketing programs.
C)sustainability efforts.
D)process management.
Answer: C
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Page 3
Chapter 2: Analyzing the External Environment of the Firm:
Creating Competitive Advantages
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173 Verified Questions
173 Flashcards
Source URL: https://quizplus.com/quiz/54120
Sample Questions
Q1) Buyer power will be greater when
A)the products purchased are highly differentiated.
B)it is concentrated or when a buyer group purchases large volumes relative to seller sales.
C)the industry product is very important to the quality of the buyer end products or services.
D)there are high switching costs.
Answer: B
Q2) The threat of new entrants is high when there are A)high capital requirements.
B)low economies of scale.
C)high switching costs.
D)high differentiation among competitors products and services.
Answer: B
Q3) Although changes in the general environment may often adversely or favorably impact a firm, they seldom alter an entire industry.
A)True
B)False
Answer: False
Page 4
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Chapter 3: Assessing the Internal Environment of the Firm
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174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/54119
Sample Questions
Q1) For a resource to provide a firm with the potential for a sustainable competitive advantage, it must have four attributes. Which of the following is not one of these attributes?
A)rare
B)valuable
C)easy for competitors to substitute
D)difficult for competitors to imitate
Answer: C
Q2) For the balanced scorecard implementation to be effective, a set of rules for employees that address continuous process improvement and the personal improvement of individual employees needs to be established so that employees buy-in to the change.
A)True
B)False
Answer: True
Q3) Company strengths and weaknesses are tied to its stated goals and objectives. A)True
B)False
Answer: True
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Page 5
Chapter 4: Recognizing a Firms Intellectual Assets: Moving
Beyond a Firms Tangible Resources
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173 Verified Questions
173 Flashcards
Source URL: https://quizplus.com/quiz/54118
Sample Questions
Q1) John wanted to set up a nurse-led preoperative assessment service intended to free up time for the doctors who previously led the assessments, reduce cancelled operations (and costs), and improve patient care. Carol, a well-respected nurse, had less seniority than John, but many colleagues relied on her advice about navigating hospital politics. She knew many of the people whose support John needed and she eventually converted them to the change. This is an example of a connector.
A)True
B)False
Q2) Human capital includes
A)the relationships between people.
B)an improved product.
C)the output from assembly line employees.
D)capabilities, knowledge, and skills of an individual.
Q3) At Accenture, the knowledge of its consultants has been codified and stored in electronic repositories and, therefore, cannot be employed in many jobs by their huge number of consultants.
A)True
B)False
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Chapter 5: Business-Level Strategy: Creating and Sustaining Competitive Advantages
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163 Verified Questions
163 Flashcards
Source URL: https://quizplus.com/quiz/54117
Sample Questions
Q1) The market life cycle should be used for short run forecasting, because it provides a conceptual framework for understanding what changes typically occur over the life of an industry.
A)True
B)False
Q2) During the growth stage of the market life cycle, customers are very likely to establish brand loyalty.
A)True
B)False
Q3) Most turnarounds require a firm to carefully analyze its relevant environments. The _______ analysis leads to identification of market segments or customer groups that may still find the product attractive.
A)external
B)internal
C)global
D)environmental
Q4) Focus, by itself, often constitutes a competitive advantage.
A)True
B)False
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Chapter 6: Corporate-Level Strategy: Creating Value Through Diversification
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114 Verified Questions
114 Flashcards
Source URL: https://quizplus.com/quiz/54116
Sample Questions
Q1) Poison pills are used by a company to take away shareholder rights in the event of a takeover by another firm.
A)True
B)False
Q2) Which of the following statements regarding internal development as a means of diversification is false?
A)Many companies use internal development to extend their product or service offers.
B)An advantage of internal development is that it is generally faster than other means of diversification and firms can benefit from speed in developing new products and services.
C)The firm is able to capture wealth created without having to share the wealth with alliance partners.
D)Firms can often develop products or services at a lower cost, if they rely on their own resources instead of external funding.
Q3) Core competencies do not create value in a business.
A)True
B)False
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Page 8
Chapter 7: International Strategy: Creating Value in Global Markets
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140 Verified Questions
140 Flashcards
Source URL: https://quizplus.com/quiz/54115
Sample Questions
Q1) In the quest to achieve competitive advantage in global markets, competitive pressures require that firms do what they can to _______ unit costs so that consumers will not perceive their product and service offerings as too expensive.
A)raise
B)decentralize
C)define
D)lower
Q2) Which of the following describes the most typical order of entry into foreign markets?
A)franchising, licensing, exporting, joint venture, and wholly owned subsidiary
B)exporting, franchising, licensing, joint venture, and wholly owned subsidiary
C)licensing, exporting, franchising, joint venture, and wholly owned subsidiary
D)exporting, licensing, franchising, joint venture, and wholly owned subsidiary
Q3) Emerging markets are growing slower than developed markets, thus shifting the structure of the global economy.
A)True
B)False
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9
Chapter 8: Entrepreneurial Strategy and Competitive Dynamics
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115 Verified Questions
115 Flashcards
Source URL: https://quizplus.com/quiz/54114
Sample Questions
Q1) Which of the following is NOT one of the characteristics of an entrepreneurial opportunity?
A)affordable
B)attractive
C)achievable
D)value creating
Q2) Swedish breweries cooperate in recycling used bottles and therefore have no way to differentiate their offers in the minds of the customer.
A)True
B)False
Q3) Which of the following is not a factor that makes it more difficult for new ventures to be successful as differentiators?
A)The strategy is thought to be expensive to put into action.
B)Establishing a brand, important to a differentiation strategy, is thought to be expensive.
C)Superior innovation is often very costly.
D)Customer service is often costly, but it does not affect a differentiation strategy.
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Page 10
Chapter 9: Strategic Control and Corporate Governance
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116 Verified Questions
116 Flashcards
Source URL: https://quizplus.com/quiz/54113
Sample Questions
Q1) External governance control mechanisms include all of the following except A)auditors.
B)analysts.
C)competitors.
D)media.
Q2) Individual and institutional shareholders have the same rights that include all of the following except
A)right to sell stock.
B)right to vote the proxy.
C)the right to bring suit for damages, if the economy declines.
D)certain residual rights following the liquidation of the company, once creditors and claimants are paid.
Q3) Which of the following is not a characteristic of effective reward and incentive systems?
A)Performance measures are clear and highly visible.
B)The structure is fixed to assure employees of consistency.
C)The compensation system is perceived as fair and equitable.
D)Objectives are well understood, and broadly accepted.
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11
Chapter 10: Creating Effective Organizational Designs
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121 Verified Questions
121 Flashcards
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Sample Questions
Q1) Organizations that make it to the growth stage design strategies to
A)reduce the tendency to increase operational scope.
B)leave exiting product-market domains.
C)increase the overall scope of operations.
D)reduce the commitment to new product-market domains.
Q2) Organizations are increasingly using teams for many reasons. The difference between a good team and an outstanding team has been found to be
A)the combined technical skills of the members.
B)similarities in the way team members solve problems.
C)the way team members treat each other.
D)similarities in the age and experience of team member.
Q3) In the ambidextrous firm, if managers direct their efforts primarily at _______, they are likely to miss out on promising business opportunities.
A)alignment
B)adaptability
C)structure
D)opportunities
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Chapter 11: Strategic Leadership: Creating a Learning
Organization and an Ethical Organization
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139 Verified Questions
139 Flashcards
Source URL: https://quizplus.com/quiz/54111
Sample Questions
Q1) The three broad sets of capabilities into which leadership traits can be organized include technical skills, cognitive abilities, and intellectual abilities.
A)True
B)False
Q2) Three key interdependent strategic leadership activities are: designing the organization, determining its direction, and nurturing a culture dedicated to excellence and ethical behavior.
A)True
B)False
Q3) According to Michael Williams, director of Entrepreneurship Activities and the Business and Entrepreneurship Clinic at the University of Wisconsin-Madison School of Business, effective leaders ____________ themselves with exceptional people and are trusted and fantastic ____________.
A)surround; communicators
B)enable; entertainers
C)carry; motivators
D)excite; enablers
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Page 13
Chapter 12: Managing Innovation and Fostering Corporate
Entrepreneurship
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121 Verified Questions
121 Flashcards
Source URL: https://quizplus.com/quiz/54110
Sample Questions
Q1) Risk taking can lead to competitive advantage, but it needs to be managed carefully.
A)True
B)False
Q2) Which of the following dimensions of entrepreneurial orientation is described as an independent action by an individual or team aimed at bringing forth a business concept or vision and carrying it through to completion?
A)autonomy
B)innovativeness
C)competitive aggressiveness
D)risk taking
Q3) Whereas _________ often emerge as heroes, _________ run the risk of losing status by opposing popular projects.
A)managers; employees
B)product champions; exit champions
C)exit champions; product champions
D)shareholders; managers
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