Corporate Strategy
Exam Solutions
Course Introduction
Corporate Strategy explores the formulation and implementation of strategies that determine the overall direction and long-term success of organizations. The course examines concepts and frameworks for analyzing industries, evaluating competitive environments, and understanding the internal resources and capabilities of firms. Topics include diversification, mergers and acquisitions, vertical integration, global expansion, and corporate governance, all aimed at helping students develop the skills required to make high-level strategic decisions. Through case studies, group discussions, and practical projects, students will learn how corporations create value across different business units and respond to dynamic market changes.
Recommended Textbook
Strategic Management Concepts and Cases 16th Edition by Fred R. David
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11 Chapters
1321 Verified Questions
1321 Flashcards
Source URL: https://quizplus.com/study-set/1473
Page 2
Chapter 1: The Nature of Strategic Management
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123 Verified Questions
123 Flashcards
Source URL: https://quizplus.com/quiz/29313
Sample Questions
Q1) What can be defined as the art and science of formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives?
A) Strategy formulation
B) Strategy evaluation
C) Strategy implementation
D) Strategic management
E) Strategic leading Answer: D
Q2) Military success is usually the happy result of accidental strategies, but business success is the product of continuous attention to changing conditions and insightful adaptations to those conditions.
A)True
B)False Answer: False
Q3) Middle managers are generally the most visible and critical of all strategic managers.
A)True
B)False Answer: False
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Chapter 2: The Business Vision and Mission
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) Customer's and creditors are considered stockholders of an organization.
A)True
B)False
Answer: False
Q2) Effective and carefully planned mission statements
A) require major changes every few months.
B) require major changes every few quarters.
C) require major revision every few years.
D) do not require revision.
E) require infrequent major changes, but are always subject to revision.
Answer: E
Q3) Well-conceived and properly executed mission and vision statements are not subject to revision.
A)True
B)False
Answer: False
Q4) A mission statement can sometimes be called a statement of philosophy.
A)True
B)False
Answer: True
Page 4
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Chapter 3: The External Assessment
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115 Verified Questions
115 Flashcards
Source URL: https://quizplus.com/quiz/29317
Sample Questions
Q1) 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
Q2) When an industry relies heavily on government contracts, which forecasts can be the most important part of an external audit?
A) Economic
B) Political
C) Technological
D) Competitive
E) Multinational
Answer: B
Q3) The weights and total weighted scores in both a Competitive Profile Matrix (CPM) and an External Factor Evaluation (EFE) Matrix have the same meaning.
A)True
B)False
Answer: True
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Page 5
Chapter 4: The Internal Assessment
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123 Verified Questions
123 Flashcards
Source URL: https://quizplus.com/quiz/29318
Sample Questions
Q1) What are the seven basic functions of marketing?
Q2) The only certain thing about the future of any organization is change.
A)True
B)False
Q3) The controlling function of management is especially important for effective strategy evaluation.
A)True
B)False
Q4) Staffing involves all of these activities EXCEPT
A) recruiting employees.
B) rewarding employees.
C) analyzing customers.
D) managing union relations.
E) training and developing employees.
Q5) The Internal Factor Evaluation Matrix should use a total of 20 internal factors.
A)True
B)False
Q6) Define cultural products and give six examples of them.
Q7) Discuss the five steps involved in performing an Internal Factor Evaluation (IFE) Matrix.
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Chapter 5: Strategies in Action
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123 Verified Questions
123 Flashcards
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Sample Questions
Q1) Which strategy would be effective when the stockholders of a firm can minimize their losses by selling the organization's assets?
A) Integration
B) Differentiation
C) Diversification
D) Cost leadership
E) Liquidation
Q2) Stockton, California, is the largest U.S. city to declare bankruptcy.
A)True
B)False
Q3) Limited availability of quality distributors is a reason why competitive advantage could result from forward integration.
A)True
B)False
Q4) A low-cost focus strategy can be especially attractive when the target market niche is small.
A)True
B)False
Q5) What are four common problems that cause joint ventures to fail?
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Chapter 6: Strategy Analysis and Choice
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) An organization's present strategies, objectives, vision, and mission, coupled with the external and internal audit information, provide a basis for generating and evaluating feasible alternative strategies.
A)True
B)False
Q2) Today boards of directors are composed mostly of outsiders who are becoming more involved in an organization's strategic management.
A)True
B)False
Q3) 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
Q4) Explain the benefits and limitations of developing a Boston Consulting Group (BCG) Matrix.
Q5) Describe some tactics used by politicians that can also aid strategists.
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Chapter 7: Implementing Strategies: Management, Operations, and Human Resource Issues
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116 Verified Questions
116 Flashcards
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Sample Questions
Q1) Which is NOT a characteristic of policies?
A) let both employees and managers know what is expected of them
B) provide a basis for management control
C) allow coordination across organizational units
D) reduce the amount of time managers spend making decisions
E) represent the basis for allocating resources
Q2) In terms of number of employees, restructuring usually involves increasing the size of the firm.
A)True
B)False
Q3) A divisional structure by product is most effective when
A) special emphasis needs to be placed on specific products.
B) an organization offers few products.
C) an organization's products or services differ substantially.
D) special emphasis needs to be placed on specific services.
E) all of the above
Q4) In Japan, performance rather than seniority has traditionally been the key factor in determining pay.
A)True B)False
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Chapter 8: Implementing Strategies: Marketing,
Financeaccounting, Rd, and Mis
Issues
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117 Verified Questions
117 Flashcards
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Sample Questions
Q1) Segmenting industrial markets is generally simpler and easier than segmenting consumer markets.
A)True
B)False
Q2) The online community of customers increasingly mirrors the offline community but is much quicker, cheaper, and effective to reach than traditional focus groups and surveys.
A)True
B)False
Q3) One major R&D approach is to be an innovative imitator of successful products.
A)True
B)False
Q4) The most common bases for segmenting markets are geographic and demographic.
A)True
B)False
Q5) Discuss guidelines used to determine whether a firm should conduct R&D internally or externally.
Q7) Discuss three major R&D approaches for implementing strategies. Page 10
Q6) Identify and describe the four corporate valuation methods (approaches for determining a business' monetary value).
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Chapter 9: Strategy Review, Evaluation, and Control
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122 Verified Questions
122 Flashcards
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Sample Questions
Q1) According to researchers, all of the following encourage individuals to accept change EXCEPT
A) having a cognitive understanding of the changes.
B) having a sense of control over the situation.
C) having an awareness that necessary actions are going to be taken to implement change.
D) participating in strategy-evaluation activities.
E) being overpowered by the nature, types, and speed of changes.
Q2) 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?
A) Corporate insecurity
B) Corrective actions
C) Future shock
D) Corporate agility
E) Projected performance
Q3) Too much emphasis on evaluating strategies may be expensive and counterproductive.
A)True
B)False
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Page 12
Chapter 10: Business Ethics, Social Responsibility, and Environmental Sustainability
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117 Verified Questions
117 Flashcards
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Sample Questions
Q1) Which is a rule from the Wall Street Journal article "The New Rules of Flirting"?
A) Do not flirt within a relationship that you want to strengthen.
B) Flirt with someone you know is looking for a relationship if you are not interested in a new relationship.
C) Flirt to make your partner jealous.
D) Flirting between power differences, such as boss and employee, is usually fine.
E) Do not make physical contact with the person you are flirting with, unless it is within a desired relationship.
Q2) Integrating ethical decision making into the performance appraisal process is one way that firms can align ethical and strategic decision making.
A)True
B)False
Q3) Orphan drugs offer pharmaceutical companies no economic incentive for profitable development and distribution.
A)True
B)False
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13
Chapter 11: Global and International Issues
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126 Verified Questions
126 Flashcards
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Sample Questions
Q1) In Nordic countries Denmark, Sweden, and Finland, about 70 percent of all employees are in unions.
A)True
B)False
Q2) Although growth in revenues and profits is a common expectation of shareholders, it is not a measure of organizational success.
A)True
B)False
Q3) Desire for ________ is a part of the social fabric in worker-manager relations in Mexico.
A) harmony
B) friction
C) conflict
D) independence
E) punctuality
Q4) With the rise in world commerce, government regulatory bodies are no longer able to closely monitor foreign business practices.
A)True
B)False
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