Business Administration Capstone
Chapter Exam Questions
Course Introduction
The Business Administration Capstone course serves as the culminating experience for students majoring in business administration, integrating knowledge and skills acquired throughout the program. Through case studies, simulations, group projects, and real-world problem solving, students demonstrate their mastery of core business concepts such as strategy, finance, marketing, management, and operations. Emphasis is placed on decision-making, critical thinking, and effective communication. Students are often tasked with developing comprehensive business plans or consulting reports, preparing them for the complexities and challenges of modern business environments.
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Strategic Management Theory An Integrated Approach 12th Edition by
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Page 2
Charles W. L. Hill
Chapter 1: Strategic Leadership: Managing the Strategy
Making Process for Competitive Advantage
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Q1) Which of the following is not a characteristic of well-constructed goals?
A)They provide a means by which the performance of managers can be evaluated.
B)They are lengthy and wordy.
C)They specify a time period.
D)They are challenging but realistic.
E)They address critical issues.
Answer: B
Q2) Research finds that leaders who exhibit a high degree of emotional intelligence tend to be significantly less effective than those who do not.
A)True
B)False
Answer: False
Q3) The great virtue of scenario planning is that managers must think outside of the box to anticipate what they might do in different situations.
A)True
B)False
Answer: True
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Chapter 2: External Analysis: The Identification of Opportunities and Threats
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Q1) A technological change,such as the rise of the Internet,can represent either an opportunity or a threat.
A)True
B)False
Answer: True
Q2) The extent of rivalry among established companies is lowest when:
A)the industry's product is a commodity.
B)demand is growing rapidly.
C)exit barriers are substantial.
D)the industry is entering a decline stage.
E)the fixed costs are high.
Answer: B
Q3) A company's closest competitors are those in its strategic group.
A)True
B)False
Answer: True
Q4) Substitute products are not a threat if a company is the market leader. A)True
B)False Answer: False
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Chapter 3: Internal Analysis: Resources and Competitive Advantage
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Q1) Competitive advantage is based on:
A)distinctive competencies.
B)the Icarus paradox.
C)higher cost structure.
D)prior strategic commitments.
E)barriers to change in a company.
Answer: A
Q2) Industry dynamism refers to:
A)the gradual erosion of a company's customer base over time.
B)shifts in product profitability.
C)a rapidly changing industry environment.
D)increasing per-unit costs.
E)a company's difficulty in changing its strategies and structure.
Answer: C
Q3) Quality-as-excellence and quality-as-reliability are concepts that apply to goods but not services.
A)True
B)False
Answer: False
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Chapter 4: Building Competitive Advantage Through Functional Level Strategies
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Q1) Close integration between research and development (R&D),production and marketing can help a company avoid innovation failures.
A)True
B)False
Q2) Research suggests that the adoption of _____ may increase efficiency and lower unit costs relative to what can be achieved by the mass production of a standardized output.
A)just-in-time manufacturing
B)quick technology
C)flexible production technology
D)stable production
E)unscheduled manufacturing
Q3) Distinctive competencies shape the _____ strategies that a company can pursue.
A)business-level
B)functional-level
C)corporate-level
D)global-level
E)industry-level
Q4) Identify the two dimensions of quality and describe how companies can achieve them.
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Chapter 5: Business Level Strategy
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Q1) A company that follows a low-cost strategy could reasonably be expected to reduce costs by:
A)increasing the number of business processes.
B)adopting lean production and flexible manufacturing technologies.
C)implementing first-in-first-out inventory control systems.
D)taking steps to increase customer churn.
E)abandoning economies of scale and learning effects.
Q2) The basic proposition of the blue ocean strategy is that many successful companies have built their competitive advantage by initiating price wars and driving weaker rivals out of the industry.
A)True
B)False
Q3) Differentiation can help a company to grow overall demand and capture market share from its rivals.
A)True
B)False
Q4) List the features that need to be included in functional strategies to improve differentiation.
Q5) Define the generic business-level strategies companies pursue.
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Chapter 6: Business Level Strategy and the Industry Environment
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Q1) A fragmented industry is one composed of a:
A)single large company that has the power to determine prices.
B)large companies and their subsidiaries.
C)large number of small and medium-sized firms.
D)companies that operate in different locations across the world.
E)a small number of single proprietorships.
Q2) A limit price strategy involves charging a price that is lower than that required to maximize profits in the short run,but is above the cost structure of potential entrants.
A)True
B)False
Q3) The growth stage of an industry's life cycle is the:
A)time when companies attempt to secure their grip over customers in existing market segments.
B)time when customers start exiting the markets.
C)time to plan an exit strategy.
D)time to reduce investment in a product.
E)time when the demand for products is low because customers are not familiar with the product.
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Chapter 7: Strategy and Technology
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Q1) Even if they are constrained by a lack of capital,research shows that new entrants should avoid partnering with a larger company.
A)True
B)False
Q2) What advice would you give to a firm that wants to exploit network effects?
A)Charge heavy license fee for new technology.
B)Refrain from using technical standards.
C)Create incentives for other firms to develop complementary products.
D)Do not use aggressive marketing strategies for killer applications.
E)Increase switching costs.
Q3) Which of the following statements is true about technological paradigm shifts?
A)They often do not change the nature of competition in an industry.
B)They occur when government regulations restrict the use of certain technologies.
C)They have the potential to threaten the survival of established industries.
D)They can often be handled by established companies without adopting new strategies.
E)They strongly deter new entrants.
Q4) What are technical standards,why are they important,and how are they established?
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Chapter 8: Strategy in the Global Environment
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Q1) What are the potential benefits and risks of global strategic alliances? What actions can a firm take to minimize the risks and maximize the benefits?
Q2) A localization strategy is most appropriate when there are substantial differences across nations with regard to consumer tastes and preferences and when cost pressures are not too intense.
A)True
B)False
Q3) Most manufacturing companies begin their global expansion by exporting.
A)True
B)False
Q4) If a company's competitive advantage derives from its control of proprietary technological know-how,it should either license its technology to others or pursue a joint venture.
A)True
B)False
Q5) A company can increase its growth rate by taking goods or services developed at home and selling them internationally.
A)True
B)False
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Chapter 9: Corporate-Level Strategy: Horizontal Integration,
Vertical Integration, and Strategic Outsourcing
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Q1) Which of the following is not a benefit of vertical integration?
A)Facilitated investments in specialized assets
B)Enhanced product quality
C)Improved scheduling
D)Lowered cost structure
E)Strengthened differentiation advantage
Q2) _____ is the process of acquiring or merging with industry competitors to achieve the competitive advantages.
A)Tapered integration
B)Vertical integration
C)Horizontal integration
D)Franchising
E)Diversification
Q3) Consider the case of a manufacturing firm that purchases subassemblies from a supplier,creates a finished product,and then sells that product to a wholesale distributor.What advantages might this firm gain from forward integration? From backward integration? What potential pitfalls of vertical integration might the firm face?
Q4) How can strategic outsourcing strengthen a company's business model and increase its profitability?
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Chapter 10: Corporate Level Strategy: Related and Unrelated Diversification
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Q1) Which of the following entry strategies should be used when speed is an important consideration?
A)Internal new venture
B)Acquisition
C)Joint venture
D)Unrelated diversification
E)Related diversification
Q2) Diversification may dissipate value if it is wrongly based on:
A)realizing economies of scope.
B)rescuing core business.
C)transferring competencies.
D)acquisitions and restructuring.
E)leveraging existing competencies.
Q3) What is perhaps the most important reason why acquisitions fail?
A)The expense of the acquisition
B)The timing of the acquisition
C)Management's unwillingness to make the necessary effort to make the acquisition work effectively
D)Incompetence on the part of workers in the acquired firm
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E)Difficulties in coordinating manufacturing activities
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Chapter 11: Corporate Performance, Governance, and Business Ethics
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Q1) Arnold is a CEO at Gamma LLC.He has control over the corporate funds of the company.Arnold has often used funds from the company to pay for his travel and hotel expenses.The funds could otherwise have increased stockholder returns.Which of the following concepts is illustrated in this scenario?
A)Corporate governance
B)On-the-job consumption
C)Greenmail
D)Information asymmetry
E)Information manipulation
Q2) Phil is an employee at Global Tech Inc.He is considered an external stakeholder.
A)True
B)False
Q3) In corporations,agency theory is used to explain the relationship between stockholders and corporate managers,and between upper-level managers and the lower-level managers they supervise.
A)True
B)False
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Chapter 12: Implementing Strategy Through Organization
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Q1) The need for integrating mechanisms is greater when a company's structure is more complex.
A)True
B)False
Q2) Delayering is:?
A)a rethinking and radical redesign of a firm's business processes.
B)a radical readjustment of the organization's staffing and hierarchy.
C)a philosophy that states that mistakes, defects, and poor-quality materials are not acceptable and should be eliminated.
D)the shift that firms make from a functional to a more complex structure as the firm grows in complexity and size.
E)employed when a firm needs help in improving its functional strategies.
Q3) A division is a way of grouping functions to allow an organization to better produce and dispose of its goods and services.
A)True
B)False
Q4) Organizational structure is at the core of an organizations architecture.
A)True
B)False
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