Management and Organization Exam Practice Tests
Course Introduction
Management and Organization explores the fundamental principles and practices involved in effectively leading and structuring organizations. This course examines key management functions such as planning, organizing, leading, and controlling, and delves into organizational structures, culture, communication, and decision-making processes. Students will analyze real-world case studies, learn about teamwork, motivation, leadership styles, and the impact of change on organizations. The course equips students with practical tools and frameworks for managing people and resources in diverse business environments, fostering crucial skills for future managers and organizational leaders.
Recommended Textbook
Strategic Management Concepts and Cases Competitiveness 12th Edition by Michael
Available Study Resources on Quizplus
13 Chapters
1670 Verified Questions
1670 Flashcards
Source URL: https://quizplus.com/study-set/245
Page 2
A. Hitt
Chapter 1: Strategic Management and Strategic Competitiveness
Available Study Resources on Quizplus for this Chatper
133 Verified Questions
133 Flashcards
Source URL: https://quizplus.com/quiz/3850
Sample Questions
Q1) All of the following are resources of an organization EXCEPT:
A) an hourly production employee's ability to catch subtle quality defects in products.
B) oil drilling rights in a promising region.
C) weak competitors in the industry.
D) a charity's board of directors of experienced executives.
Answer: C
Q2) Define strategic competitiveness and above-average returns. What is the relationship between strategic competitiveness and returns on investment?
Answer: Strategic competitiveness is achieved when the firm successfully formulates and implements a value-creating strategy. Above-average returns are returns in excess of what investors expect to earn from other investments with similar risk levels. Firms will only be able to earn above-average returns if they develop a competitive advantage. Competitive advantage derives from a strategy that competitors cannot duplicate or find too costly to imitate.
Q3) Resources are considered rare when they have no structural equivalent.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: The External Environment: Opportunities,
Threats, Industry Competition, and Competitor Analysis
Available Study Resources on Quizplus for this Chatper
138 Verified Questions
138 Flashcards
Source URL: https://quizplus.com/quiz/3851
Sample Questions
Q1) Strategic groups are firms in different industries following the same or similar strategies.
A)True
B)False
Answer: False
Q2) What do firms need to know about their competitors? What legal and ethical intelligence-gathering techniques can be used to obtain this information?
Answer: Competitor analysis helps firms identify: 1) what drives the competitor by understanding the competitor's future objectives); 2) what the competitor is doing and is capable of doing by understanding the competitor's current strategy; 3) what the competitor believes about the industry by understanding the assumptions made by the competitor; and 4) what the competitor's capabilities are by understanding the competitor's strengths and weaknesses. Firms can legally and ethically gather public information, such as annual reports, SEC reports, UCC filings, court records, and advertisements. Firms can also attend trade fairs to obtain competitors' brochures, view exhibits, and discuss products. This data combines to form competitive intelligence.
To view all questions and flashcards with answers, click on the resource link above.
Page 4
Chapter 3: The Internal Organization: Resources, Capabilities, Core Competencies, and Competitive Advantages
Available Study Resources on Quizplus for this Chatper
133 Verified Questions
133 Flashcards
Source URL: https://quizplus.com/quiz/3852
Sample Questions
Q1) Examples of support activities include all of the following EXCEPT:
A) finance.
B) human resources.
C) follow-up service.
D) management information systems.
Answer: C
Q2) A major U.S. manufacturer of children's toys believes its main competitive advantage lies in its continuing development of innovative toys and games. The company is facing increasing competition on price, and it is strongly considering outsourcing to offshore firms as a means of reducing costs. The LAST function this firm should consider outsourcing is:
A) operations.
B) research and development.
C) supply-chain management.
D) distribution.
Answer: B
Q3) Any core competency has the potential to lose its value-creating ability.
A)True
B)False
Answer: True
Page 5
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 4: Business-Level Strategy
Available Study Resources on Quizplus for this Chatper
131 Verified Questions
131 Flashcards
Source URL: https://quizplus.com/quiz/3853
Sample Questions
Q1) Walmart went against business-level strategy and made changes to attract upscale customers. These changes had which of the following results?
A) It strengthened Walmart's position against rivals such as Dollar Stores and Amazon.
B) It made Walmart vulnerable to Dollar Store and Amazon.
C) It attracted significant numbers of new customers.
D) Family Dollar, Dollar Tree, and Dollar General all experienced losses in sales as many of their customers went to Walmart.
Q2) Customer ratings of products they bought online is an example of:
A) loyalty.
B) reach.
C) richness.
D) affiliation.
Q3) Almost any identifiable human or organizational characteristic can be used to subdivide a market into segments that differ from one another on a given characteristic.
A)True
B)False
Q4) What are the risks of an integrated cost leadership/differentiation strategy?
To view all questions and flashcards with answers, click on the resource link above.
Chapter 5: Competitive Rivalry and Competitive Dynamics
Available Study Resources on Quizplus for this Chatper
107 Verified Questions
107 Flashcards
Source URL: https://quizplus.com/quiz/3854
Sample Questions
Q1) Competitive rivalry has the most effect on a firm's ____ strategies than the firm's other strategies.
A) business-level
B) corporate-level
C) acquisition
D) international
Q2) ____ and ____ describe the situation in which organizations are direct competitors and are fully aware of the competition.
A) High market commonality; high resource similarity
B) High market commonality; low resource similarity
C) Low market commonality; high resource similarity
D) Low market commonality; low resource similarity
Q3) An organization's loyalty to its own product is a competitive disadvantage in a(n) ____ market.
A) slow-cycle
B) standard cycle
C) intermediate cycle
D) fast-cycle
Q4) Define awareness, motivation, and ability in reference to competitive behavior.
Q5) What factors contribute to the likelihood of a response to a competitive action?
Page 8
To view all questions and flashcards with answers, click on the resource link above.
Chapter 6: Corporate-Level Strategy
Available Study Resources on Quizplus for this Chatper
140 Verified Questions
140 Flashcards
Source URL: https://quizplus.com/quiz/3855
Sample Questions
Q1) Contract manufacturers who manage their customers' entire product line, and offer services ranging from inventory management to delivery and after-sales services are prime examples of vertical integration.
A)True
B)False
Q2) What are the managerial motives to diversify?
Q3) United Technologies, Textron, Samsung, and Hutchison Whampoa Limited are examples of diversified firms that have no relationships between their businesses. These firms all use the strategy of unrelated diversification.
A)True
B)False
Q4) Without strict governance mechanisms, the majority of executives will act in their own self-interest rather than acting as positive stewards of firm resources.
A)True
B)False
Q5) Describe the primary reasons a firm pursues increased diversification.
Q6) What is the effect of a firm's low performance on the pursuit of diversification?
To view all questions and flashcards with answers, click on the resource link above.
Page 9
Chapter 7: Merger and Acquisition Strategies
Available Study Resources on Quizplus for this Chatper
131 Verified Questions
131 Flashcards
Source URL: https://quizplus.com/quiz/3856
Sample Questions
Q1) The announcement that P&G was acquiring premium dog and cat food manufacturer Iams was a _________ acquisition and is intended to ________.
A) vertical; increase diversification
B) horizontal; increase market power
C) vertical; overcome entry barriers
D) related; increase speed to market
Q2) A primary reason for a firm to pursue an acquisition is to:
A) avoid increased government regulation.
B) achieve greater market power.
C) exit a hyper-competitive market.
D) achieve greater financial returns in the short run.
Q3) Manny Inc. recently completed the purchase of its primary supplier. Manny intends to begin expanding the market to which the suppliers' products are sold. This purchase is a(n):
A) merger.
B) unrelated acquisition.
C) horizontal acquisition.
D) vertical acquisition.
Q4) What are the results of the three forms of restructuring?
Q5) Identify and explain the seven reasons firms engage in an acquisition strategy.
Page 10
To view all questions and flashcards with answers, click on the resource link above.
Chapter 8: International Strategy
Available Study Resources on Quizplus for this Chatper
129 Verified Questions
129 Flashcards
Source URL: https://quizplus.com/quiz/3857
Sample Questions
Q1) Research suggests that the performance of the global strategy is enhanced if it deploys in areas where regional integration across countries is occurring.
A)True
B)False
Q2) Acquisitions, greenfield ventures, and sometimes joint ventures are appropriate when firms want to establish a strong presence in an international market.
A)True
B)False
Q3) Working in multiple international markets can provide firms with __________ perhaps even in terms of __________.
A) location advantages; larger markets
B) research and development activities; larger markets
C) new learning opportunities; research and development activities
D) economies of scale and learning; larger markets
Q4) A company that chooses a truly global corporate-level strategy assumes that the liability of foreignness will be minimal.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 11
Chapter 9: Cooperative Strategy
Available Study Resources on Quizplus for this Chatper
123 Verified Questions
123 Flashcards
Source URL: https://quizplus.com/quiz/3858
Sample Questions
Q1) Dynamic alliance networks work best in industries:
A) characterized by frequent product innovations and short product life cycles.
B) that are mature and stable in nature.
C) where the coordination of product and global diversity is critical.
D) that are characterized by predictable market cycles and demand.
Q2) International strategic alliances are less risky than domestic strategic alliances because of diversification across countries.
A)True
B)False
Q3) Amylin Pharmaceuticals has an alliance with Eli Lilly & Co. to produce diabetes drugs. Lilly, however, recently signed an alliance agreement with another company to also produce diabetes drugs. As a result, Amylin sued Lilly for breach of the alliance agreement. Which of the following risks of cooperative strategies discussed in the chapter is most likely occurring here?
A) Having a true perception of the partner's trustworthiness
B) Failing to make available to its partners the resources and capabilities that it committed to the cooperative strategy
C) The partner misrepresenting competencies it can bring to the partnership
D) Opportunistic behavior
To view all questions and flashcards with answers, click on the resource link above.
Page 12
Chapter 10: Corporate Governance
Available Study Resources on Quizplus for this Chatper
142 Verified Questions
142 Flashcards
Source URL: https://quizplus.com/quiz/3859
Sample Questions
Q1) A hostile takeover defense wherein the target firm makes its stock less attractive to a potential acquirer is called:
A) greenmail.
B) a standstill agreement.
C) crossing the palm with silver.
D) a poison pill.
Q2) Managers in firms that have been subjects of hostile takeovers usually find that their value to the new firm has been enhanced because of their in-depth insider knowledge.
A)True
B)False
Q3) Historically, ____ have been at the center of German corporate governance structure.
A) banks
B) institutional shareholders
C) public pension funds
D) government agencies
Q4) How does corporate governance foster ethical strategic decisions and how important is this to top-level executives?
To view all questions and flashcards with answers, click on the resource link above.
Page 13
Chapter 11: Organizational Structure and Controls
Available Study Resources on Quizplus for this Chatper
136 Verified Questions
136 Flashcards
Source URL: https://quizplus.com/quiz/3860
Sample Questions
Q1) Firms switch from a functional structure to a multidivisional structure because greater levels of environmental complexity and uncertainty make it necessary for the firm to develop cooperative relationships with its stakeholders.
A)True
B)False
Q2) In most cases, the focus strategy is best managed using a ______ structure.
A) simple
B) functional
C) multidivisional
D) vertical
Q3) McDonald's operates through a franchising system wherein the head office uses strategic and financial controls to ensure that the franchises are creating the greatest possible value. This is an example of a(n):
A) worldwide product divisional structure.
B) strategic network.
C) SBU multidivisional structure.
D) simple structure.
Q4) Discuss the difference between strategic controls and financial controls.
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 12: Strategic Leadership
Available Study Resources on Quizplus for this Chatper
118 Verified Questions
118 Flashcards
Source URL: https://quizplus.com/quiz/3861
Sample Questions
Q1) Firm size, firm age, the executive's tolerance for ambiguity, and his or her commitment to strategic outcomes are all factors that may affect managerial discretion.
A)True
B)False
Q2) The training of future strategic leaders yields a competitive advantage for a firm, in part because knowledge and skills are necessary for successful execution of strategy.
A)True
B)False
Q3) A CEO gains power from all of the following circumstances EXCEPT:
A) when many of the outside directors are appointed by the CEO.
B) when the CEO is also the chairman of the Board.
C) when tenure of the top management team is shorter than the tenure of the Board.
D) the fact that inside Board members report to the CEO.
Q4) The strategic direction of a firm usually focuses on the coming 3 to 5 years. A)True
B)False
Q5) Define human capital and its importance to the firm's success.
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 13: Strategic Entrepreneurship
Available Study Resources on Quizplus for this Chatper
109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/3862
Sample Questions
Q1) ____ involves internally developed incremental and novel innovations that result from deliberate efforts.
A) Internal corporate venturing
B) Autonomous strategic behaviors
C) Bottom-up strategic behaviors
D) Product championing
Q2) Successfully creating innovations through internal means requires:
A) a highly individualistic culture.
B) significant spending on R&D.
C) acquisitions of innovative firms.
D) venture capital.
Q3) Entrepreneurs tend to have all the following characteristics EXCEPT:
A) willing to take responsibility for projects.
B) passion.
C) preference for certainly about projects.
D) optimism.
Q4) Entrepreneurial ventures often produce more novel innovations than do their larger, more established counterparts.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 16