Business Administration
Study Guide Questions
Course Introduction
Business Administration is a multidisciplinary course that introduces students to the fundamental principles of managing and organizing businesses and organizations. Covering topics such as management, marketing, finance, operations, and human resources, the course emphasizes the development of practical skills in leadership, decision-making, and strategic planning. Students learn how businesses operate, how resources are allocated, and how to analyze business environments to make informed decisions. Through real-world case studies and group projects, the course prepares students for diverse roles in the corporate world or entrepreneurial ventures.
Recommended Textbook
Strategic Management A Competitive Advantage Approach Concepts and Cases 14th Edition by
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11 Chapters
1337 Verified Questions
1337 Flashcards
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Page 2
Chapter 1: The Nature of Strategic Management
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) Give at least seven reasons why some firms do no strategic planning.
Answer: Some reasons for poor or no strategic planning are as follows: lack of knowledge or experience in strategic planning, poor reward structures, firefighting, waste of time, too expensive, laziness, content with success, fear of failure, overconfidence, prior bad experience, self-interest, fear of the unknown, honest difference of opinion, and suspicion.
Q2) The strategic-management process
A) occurs once a year.
B) is a semiannual process.
C) is a continuous process.
D) applies mostly to companies with sales greater than $100 million.
E) applies mostly to small businesses.
Answer: C
Q3) Crises and firefighting in an organization allow managers the training and time for effective strategic planning.
A)True
B)False
Answer: False
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3
Chapter 2: The Business Vision and Mission
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113 Verified Questions
113 Flashcards
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Sample Questions
Q1) The following excerpt from a mission statement illustrates which of the nine essential components of a mission statement?
"We believe our first responsibility is to the doctors, nurses, patients, mothers, and all others who use our products and services."
A) Markets
B) Customers
C) Concern for Employees
D) Concern for Public Image
E) Technology
Answer: B
Q2) The mission statement should be short - preferably one sentence.
A)True
B)False
Answer: False
Q3) Mission statements cannot be stated with too high a level of specificity.
A)True
B)False
Answer: False
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Chapter 3: The External Assessment
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127 Verified Questions
127 Flashcards
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Sample Questions
Q1) Internal opportunities can be represented by major competitors' weaknesses.
A)True
B)False Answer: False
Q2) Linear regression is based on the assumption that the future will be different from the past.
A)True
B)False
Answer: False
Q3) A total weighted score of 1.0 for an EFE Matrix indicates that the firm is responding in an outstanding way to existing opportunities and threats in its industry.
A)True
B)False Answer: False
Q4) The bargaining power of consumers can be the most important force impacting competitive advantage.
A)True
B)False Answer: True
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Chapter 4: The Internal Assessment
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132 Verified Questions
132 Flashcards
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Sample Questions
Q1) Which ratio is calculated by dividing profits before interest and taxes by total interest charges?
A) Inventory turnover
B) Fixed assets turnover
C) Total assets turnover
D) Debt-to-equity ratio
E) Times-interest-earned ratio
Q2) At Google the culture is very rigid, while in contrast the culture at Proctor & Gamble is very informal.
A)True
B)False
Q3) The Robinson-Patman Act affects a company's
A) pricing.
B) product/service planning.
C) customer analysis.
D) marketing research.
E) distribution.
Q4) Identify the five basic functions of management, and describe each function.
Q5) Define cultural products, and give six examples of them.
Q6) What four basic steps comprise the controlling function of management?
Page 6
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Chapter 5: Strategies in Action
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) A cost leadership strategy can be especially effective when most buyers use the product in the same ways.
A)True
B)False
Q2) Jiffy Lube International would be a good example of a firm seeking the best-value focus strategy.
A)True
B)False
Q3) Under which strategy would you offer products or services to a wide range of customers at the lowest price available on the market?
A) Cost Leadership - Low Cost
B) Cost Leadership - Best Value
C) Focus - Low Cost
D) Focus - Best Value
E) Differentiation
Q4) Compare and contrast the five types of bankruptcy: Chapters 7, 9, 11, 12 and 13.
Q5) Retrenchment and turnaround are the same strategy.
A)True B)False
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Chapter 6: Strategy Analysis and Choice
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Sample Questions
Q1) One positive feature of QSPM is that it does not require intuitive judgments and educated assumptions.
A)True
B)False
Q2) What term is defined as the product of multiplying the weights by the Attractiveness Scores in each row of the QSPM?
A) Total Attractiveness Scores
B) Sum Total Scores
C) Weighted Scores
D) Total Weighted Scores
E) Factors
Q3) Which matrix is included in the decision stage of the strategy formulation framework?
A) Internal Factor Evaluation Matrix
B) Quantitative Strategic Planning Matrix
C) Boston Consulting Group Matrix
D) Grand Strategy Matrix
E) Strategic Position and Action Evaluation Matrix
Q4) Describe the tactics that have been used by politicians that can also aid strategists.
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Chapter 7: Implementing Strategies: Management and Operations Issues
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122 Flashcards
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Sample Questions
Q1) A dual bonus system based on both annual objectives and long-term objectives is becoming common.
A)True
B)False
Q2) Recruitment, promotion, and mentoring are ways to alter an organization's culture.
A)True
B)False
Q3) What is the best divisional structure when a few major customers are of paramount importance and many different services are provided to these customers?
A) By geographic area
B) By customer
C) By product
D) By process
E) By cost
Q4) Well-run organizations are able to completely avoid conflict.
A)True
B)False
Q5) Name at least ten issues that may require a management policy.
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Chapter 8: Implementing Strategies: Marketing,
Financeaccounting, RD, and MIS
Issues
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Sample Questions
Q1) The valuation of a firm's worth
A) is an exact science.
B) requires both qualitative and quantitative skills. C) is based solely on financial facts.
D) is known only to the firm's accountants.
E) is static.
Q2) The most dramatic new market-segmentation strategy is the targeting of regional tastes.
A)True
B)False
Q3) When additional stock is issued to finance implementation of strategy, ownership and control of the enterprise are strengthened.
A)True
B)False
Q4) Looking for a vacant niche helps a company determine A) its advertising budget.
B) the size of the marketing department.
C) the best place to position a product.
D) the best place to locate a new facility.
E) its projected R&D expenditures.
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Chapter 9: Strategy Review, Evaluation, and Control
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114 Verified Questions
114 Flashcards
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Sample Questions
Q1) Which of these is a basic activity of strategy evaluation?
A) Reviewing the underlying bases of current strategies
B) Comparing expected results with actual results
C) Taking corrective actions
D) Choices B and C only
E) All of the above
Q2) Measuring organizational performance requires making changes to reposition a firm competitively for the future.
A)True
B)False
Q3) What is the cornerstone of effective strategy evaluation?
A) Adequate and timely feedback
B) Quality and quantity of managers
C) Smaller ratio of top- to lower-level management
D) Evaluation preceding implementation stage
E) Punitive corrective actions
Q4) Discuss the different perspectives and concerns of the Balanced Scorecard.
Q5) Financial ratios are rarely used as criteria to evaluate strategies.
A)True
B)False
11
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Chapter 10: Business Ethicssocial
Responsibilityenvironmental Sustainability
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120 Verified Questions
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Sample Questions
Q1) Social responsibility refers to actions an organization takes that are legally required to protect or enhance the well-being of living things.
A)True
B)False
Q2) The U.S. Justice Department is ________ bribery.
A) increasing its prosecutions of
B) relaxing its opposition to and regulations against C) employing a "don't ask, don't tell" philosophy toward D) indifferent to
E) accepting of different cultural attitudes toward
Q3) Bribery involves
A) bestowing a gift to influence the recipient's conduct.
B) requiring employees to report any unethical violations they discover or see in the firm.
C) prohibiting love affairs between bosses and their subordinates.
D) encouraging firms to play a role in curing society of its ills.
E) forcing companies to take responsibility for the impact their actions have on society.
Q4) Describe how organizations can create an ethics "culture."
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Chapter 11: Globalinternational Issues
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Sample Questions
Q1) Firms are often motivated to initiate international operations because competitors in foreign markets may not exist, or competition may be less intense than in domestic markets.
A)True
B)False
Q2) Though China has more than 1.3 billion residents, the middle class segment that is able to buy goods and services is rapidly shrinking.
A)True
B)False
Q3) Which U.S. industry is already greatly challenged by foreign competitors?
A) Printing
B) Retailing
C) Retail banking
D) Consumer packaged goods
E) None of the above
Q4) Geographic distance and cultural differences are two of the factors that can make communication between domestic headquarters and overseas operations difficult.
A)True
B)False
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