Corporate Strategy
Mock Exam
Course Introduction
Corporate Strategy explores the principles, frameworks, and practices used by organizations to achieve long-term success and competitive advantage at the highest level. The course covers topics such as industry analysis, diversification, mergers and acquisitions, global strategy, and strategic leadership. Students will learn how corporations make decisions regarding resource allocation, growth opportunities, managing portfolios of businesses, and responding to dynamic market environments. Through case studies and real-world examples, participants develop analytical and decision-making skills essential for formulating and implementing effective corporate strategies.
Recommended Textbook
Strategic Management Planning for Domestic Global Competition 14th Edition by John Pearce
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14 Chapters
1102 Verified Questions
1102 Flashcards
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Page 2
Chapter 1: Strategic Management
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86 Verified Questions
86 Flashcards
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Sample Questions
Q1) Strategic issues require which level of management decisions?
A) Operative
B) Top
C) Front-line
D) Middle Answer: B
Q2) The doubling of EPS within 5 years with increases in each intervening year is called a(n):
A) Mission
B) Long-term objective
C) Action plan
D) Short-term objective
Answer: B
Q3) Which of the following is NOT a part of a firm's immediate external environment?
A) Technological development
B) Competitors
C) Suppliers
D) Government agencies
Answer: A
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Page 3
Chapter 2: Company Mission
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Sample Questions
Q1) The company mission is a broadly framed but enduring statement of
A) A firm's intent
B) Corporate structure
C) A firm's competitive positioning
D) Stakeholder analysis
Answer: A
Q2) In general terms,which of the following questions is addressed by the mission statement?
A) How should we price our products?
B) What are our economic goals?
C) Which employees should we hire?
D) What leverage structure should we follow?
Answer: B
Q3) Generally,_____ is accepted as the clearest indication of a firm's ability to satisfy the principal desires of employees and stockholders.
A) Profit over the long term
B) Profit over the short term
C) Return on assets
D) The number of lawsuits brought against the firm
Answer: A
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Chapter 3: Corporate Social Responsibility and Business Ethics
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Sample Questions
Q1) Freedom from arbitrary and capricious behavior on the part of company officials is a typical claim of which stakeholder group?
A) Stockholders
B) Creditors
C) Employees
D) Society
Answer: C
Q2) The demands of stakeholder groups constitute one principal set of inputs to the company
A) Annual report
B) Credit report
C) Mission
D) Public relations message
Answer: C
Q3) A major consequence of the Sarbanes-Oxley Act has been the
A) Political fallout in the Congress
B) Outsourcing of jobs in lower wage countries
C) Super growth in accounting firms in the U.S.
D) Restructuring of the governance structure of American corporations
Answer: D
Page 5
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Chapter 4: The External Environment
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Sample Questions
Q1) Economies of scale in an industry refers to:
A) Savings that companies within the industry achieve due to increased volume
B) Declining average short run costs per unit
C) Improved contractual agreements with suppliers in the near term
D) Decreased barriers to entry to new firms attempting to enter the industry
Q2) A supplier group is powerful if:
A) It is not concentrated
B) It is not obligated to contend with other products for sale to the industry
C) Raw materials are the major input cost
D) Its product is not unique
Q3) A result of analyzing the operating environment is developing a ____ with respect to geographic,demographic,psychographic and buyer-behavior factors.
A) Market share analysis
B) Customer profile
C) Competitive edge
D) Consumer/surveys
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Chapter 5: The Global Environment
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Sample Questions
Q1) Rapid technological development:
A) Requires less management control
B) Has no affect on product life cycles
C) Lengthens product life cycles
D) Shortens product life cycles
Q2) Which one of the following is NOT a strategic orientation of global firms?
A) Omnicentric
B) Ethnocentric
C) Polycentric
D) Regiocentric
Q3) A global planning process provides:
A) Cross purposes for subsidiaries
B) An ordered means for assembling, analyzing and distilling information
C) A means for misinformation to occur
D) Another information explosion
Q4) The transfer of an industrial property right is called
A) Franchising
B) Licensing
C) Exporting
D) Bartering
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Chapter 6: Internal Analysis
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Sample Questions
Q1) A(n)______ is a resource or capability controlled by or available to a firm that gives it an advantage relative to its competitors in meeting the needs of the customers it serves.
A) Competence
B) Strength
C) Opportunity
D) Competitive advantage
Q2) Core competencies that differ from those found in competing firms would be considered
A) Intangible assets
B) Distinctive competencies
C) Capabilities
D) Competencies
Q3) The most easily identified assets,often found on a firm's balance sheet,are called:
A) Intangible assets
B) Tangible assets
C) Capabilities
D) Competencies
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Chapter 7: Long-Term Objectives and Strategies
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Sample Questions
Q1) When diversification involves additions of a business related to the firm in terms of technology,markets or products,it involves:
A) Concentrated growth
B) Horizontal integration
C) Concentric diversification
D) Vertical diversification
Q2) Which of the following are intended to provide benchmarks for the evaluation of the company's progress in achieving its aim?
A) Mission
B) Long-term objectives
C) Grand strategies
D) Business policies
Q3) The type of strategy typically accomplished either by cost reduction and/or asset reduction is known as:
A) Market development
B) Innovation
C) Liquidation
D) Turnaround
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9
Chapter 8: Business Strategy
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Sample Questions
Q1) Quadrant II of the Grand Strategy Selection Matrix suggests which of these strategies when the basic idea underlying the matrix is the choice of an internal or external emphasis for growth or profitability?
A) Horizontal integration
B) Conglomerate diversification
C) Market development
D) Retrenchment
Q2) Ability to reduce costs,develop variants and differentiate products represent the maturity stage of industry evolution capabilities which functional area?
A) Engineering and R&D
B) Marketing
C) Production operations
D) Personnel
Q3) ______ type of innovations support a cost leadership strategy.
A) disruptive
B) process
C) Product
D) breakthrough
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10
Chapter 9: Multibusiness Strategy
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Sample Questions
Q1) Crabtree Soup has been facing intense competition and suffering low profit margins for a year now.The market for their specialty soups has matured and the firm is being managed for short-term cash flow to supplement SwissCo's corporate-level resource needs.Which type of firm is Crabtree Soup as per the BCG Growth-Share matrix?
A) Star
B) Dog
C) Cash cow
D) Question mark
Q2) For the ABC Company,the Delta business has a low market share position in a fast growing market.As per the BCG matrix,Delta is a
A) Cash cow
B) Star
C) Question mark
D) Dog
Q3) Businesses with high market share in low-growth industries are called:
A) Stars
B) Cash cows
C) Question marks
D) Dogs
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Page 11
Chapter 10: Implementation
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Sample Questions
Q1) Short-term objectives are usually:
A) Completed within two months
B) Quantitative
C) Qualitative
D) Set to be completed within five years
Q2) Policies are also sometimes called
A) standard operating procedures
B) action plans
C) functional tactics
D) business strategy objectives
Q3) Outsourcing starts for most firms with:
A) The outsourcing of production
B) The outsourcing of the marketing function
C) The outsourcing of payroll production
D) The outsourcing of corporate strategy decisions
Q4) The goal of an executive bonus compensation plan is to:
A) Motivate executives to achieve maximization of shareholder wealth
B) Motivate executives to achieve maximization of personal wealth
C) Differentiate executives from other managers
D) Ensure the success of the firm
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Chapter 11: Organizational Structure
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Sample Questions
Q1) Team members in a product-team structure are:
A) Assigned on a temporary basis
B) Assigned to very broad tasks within a division
C) Assigned on a permanent basis
D) Managed increasingly compared to a matrix structure
Q2) Manufacturers often organize sales into divisions based on:
A) Differences in the product's level of innovation
B) Differences in distribution channels
C) Differences in geographic appeal
D) Differences in financial needs
Q3) The result of _______ is coordination,communication and decision-making functions being accomplished quickly and easily,making traditional organizational structures look slow,inefficient and noncompetitive.
A) Globalization
B) The Internet
C) The outsourcing of product design
D) The divisional organizational structure
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Chapter 12: Leadership and Culture
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Sample Questions
Q1) Bartlett and Ghoshal studied several of the most successful global companies in the last decade.Their research suggests that combining flexible responsiveness with integration and innovation:
A) Requires consistency in the management role in a twenty-first century company
B) Is based on an institution, not a process in a twenty-first century company
C) Determines the value of the management role in a twenty-first century company
D) Requires rethinking the management role and the distribution of management roles within a twenty-first century company
Q2) Which one of the following is NOT a way by which good leaders go about building the organization they want and dealing with problems and issues?
A) Education
B) Perseverance
C) Visioning
D) Principles
Q3) Personal influence is a form of
A) strategy
B) power
C) motivation
D) reward
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Page 14
Chapter 13: Strategic Control
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Sample Questions
Q1) The overriding goal of a control system is to enable the ____ and ________ of the business.
A) Improvement, diversification
B) Process, development
C) Survival, long-term success
D) Invention, entrepreneurship
Q2) _______ should be a loose "environmental scanning" activity.
A) Special alert control
B) Implementation control
C) Strategic surveillance
D) Premise control
Q3) The control of strategy can be characterized as a form of:
A) "Performance control"
B) "Mission control"
C) "Vision control"
D) "Steering control"
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Chapter 14: Innovation and Entrepreneurship
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Sample Questions
Q1) _________ are available for a very select few new ventures that have usually gone through the other three sources of equity capital first.
A) Stock options
B) Public stock offerings
C) Venture capitalists
D) Friendly sources
Q2) The DMAIC (define,measure,analyze,improve,control)process is relevant to
A) CCC21
B) Balanced scorecard
C) Strategic matrix analysis
D) Six Sigma
Q3) ___________ is an idea factor involving following demographic and other broad trends and trying to develop ideas that may be relevant and useful.
A) Mental invention
B) Trend following
C) Market research
D) Solution spotting
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