Management Studies
Exam Solutions
Course Introduction
Management Studies provides a comprehensive introduction to the principles and practices vital to effective organizational management. The course explores core topics such as planning, organizing, leading, and controlling, while examining both classical and contemporary management theories. Students learn about decision-making processes, strategic management, leadership styles, motivation, team dynamics, and the impact of globalization on modern businesses. Through case studies, group projects, and practical examples, the course develops analytical, problem-solving, and communication skills essential for future managers and leaders in diverse organizational settings.
Recommended Textbook
Strategic Management and Business Policy 15th Global Edition by J. David Hunger
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Chapter 1: Basic Concepts in Strategic Management
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) Research suggests that strategic management evolves through four sequential phases in corporations.The first phase is
A) externally oriented planning.
B) basic financial planning.
C) internally oriented planning.
D) forecast-based planning.
E) strategic management.
Answer: B
Q2) The T in SWOT stands for
A) trust.
B) technical.
C) terminal.
D) threats.
E) task.
Answer: D
Q3) Knowing a company is mindful of its impact on the environment seldom changes consumer buying habits.
A)True
B)False
Answer: False
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Chapter 2: Corporate Governance
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) Which of the following statements is not true regarding the board of directors?
A) The board is charged by law to act with due care.
B) If a director or the board as a whole fails to act with due care and, as a result, the corporation is in some way harmed, the careless director or directors can be held personally liable for the harm done.
C) Director liability insurance is often needed to attract people to become members of boards.
D) Directors must be aware of the needs of various constituent groups to balance all their interests.
E) More than half of all publicly traded companies in the United States are incorporated in New York, requiring that the corporation be managed in accordance with NY state laws.
Answer: E
Q2) Succession planning for the board and top management team is one of the five responsibilities of the board of directors.
A)True
B)False
Answer: True
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Chapter 3: Social Responsibility and Ethics in Strategic Management
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) According to the utilitarian approach,CEOs give priority to the stakeholders who have the most
A) money and largest holdings.
B) legitimacy and the best PR.
C) power, legitimacy, and urgency.
D) stability and legitimacy.
E) utility and power.
Answer: C
Q2) According to Kohlberg,the first level of moral development,characterized by concern for self,is called
A) principled.
B) conventional.
C) essential.
D) pre-conventional.
E) fundamental.
Answer: D
Q3) Ethical responsibilities are voluntary obligations a corporation assumes.
A)True
B)False
Answer: False
Page 5
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Chapter 4: Environmental Scanning and Industry Analysis
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) A formal program of gathering information on a company's competitors is referred to as
A) statistical modeling.
B) competitive intelligence.
C) competitive strategy.
D) quantitative forecasting.
E) qualitative matrix.
Q2) When strategic managers have a willingness to reject unfamiliar as well as negative information it is referred to as
A) strategic paralysis.
B) corporate inertia.
C) management indifference.
D) strategic myopia.
E) corporate apathy.
Q3) An industry matrix summarizes the key success factors within a particular industry.
A)True
B)False
Q4) List eight current sociocultural trends in the United States that are transforming North America and the world.
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Chapter 5: Organizational Analysis and Competitive Advantage
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110 Verified Questions
110 Flashcards
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Sample Questions
Q1) According to the text,which one of the following is not descriptive of a corporation's culture?
A) A corporation's culture is a collection of beliefs, expectations, and values learned and shared by the corporation's members and transmitted from one generation of employees to another.
B) Corporate cultures are only temporary and can be easily changed.
C) Culture gives a company a sense of identity.
D) The culture reflects the company's values.
E) Cultures have a powerful influence on the behavior of managers and can strongly affect a corporation's ability to shift its strategic direction.
Q2) The corporate culture generally reflects the values of the founder(s)and the mission of the firm.
A)True
B)False
Q3) A core competency can be easily imitated to the extent that it is transparent,transferable,and replicable.
A)True
B)False
Q4) Discuss primary and support activities in a value chain.
Page 7
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Chapter 6: Strategy Formulation: Business Strategy
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113 Verified Questions
113 Flashcards
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Sample Questions
Q1) The first firm through a strategic window can occupy an extremely favorable niche and discourage competition (if the firm has the required internal strengths).
A)True
B)False
Q2) When firms follow each other's lead to reduce the level of competition such as GE and Westinghouse did in steam turbines,it is referred to as
A) explicit collusion.
B) a strategic alliance.
C) a mutual service consortium.
D) conscious parallelism.
E) partnering.
Q3) Business strategy focuses on improving the competitive position of a company's or business unit's products or services within the specific industry or market segment that the company or business unit serves.
A)True
B)False
Q4) What are the common elements of a well-crafted mission statement?
Q5) What is the impact of hypercompetition on competitive advantage?
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Chapter 7: Strategy Formulation: Corporate Strategy
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108 Verified Questions
108 Flashcards
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Sample Questions
Q1) Research comparing concentric with conglomerate diversification concludes that A) conglomerate diversification is always less profitable than concentric diversification.
B) concentric diversification is always less profitable than conglomerate diversification. C) the relationship between relatedness and performance follows an inverted U-shaped curve.
D) neither concentric nor conglomerate diversification are ever profitable.
E) for optimum effectiveness both conglomerate and concentric diversification should be utilized in tandem.
Q2) When a firm internally makes 100% of its key supplies and completely controls its distributors,this is known as
A) full integration.
B) taper integration.
C) mass integration.
D) economical integration.
E) strategic integration.
Q3) Discuss the more popular stability strategies.
Q4) Why is growth a very attractive strategy?
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Chapter 8: Strategy Formulation: Functional Strategy and Strategic Choice
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) Companies such as Georgia-Pacific,Marriott,and Union Carbide view the ________ as an important way to differentiate themselves from the competition,to add value,and to reduce costs.
A) R&D function
B) logistics function
C) finance function
D) engineering function
E) purchasing function
Q2) The key to outsourcing is to purchase from the outside only those activities that A) are not key to the company's distinctive competence.
B) are very expensive.
C) provide the company competitive advantage.
D) are provided by an important supplier.
E) are not very expensive.
Q3) Two suppliers are the sole suppliers of two different parts,but they are also backup suppliers for each other's parts in parallel sourcing.
A)True
B)False
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Chapter 9: Strategy Implementation: Global Strategy
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) Most human resource managers fail to develop the training necessary for international assignments because
A) most have not worked abroad themselves and have little understanding of the unique challenges of these positions.
B) most think this training is unnecessary.
C) the financial resources are not available.
D) the time is too limited for extensive training to be delivered before the assignment.
E) cultural training resources and experts are not available to the firm.
Q2) An MNC uses which international strategy for entering a foreign market by combining the higher labor skills and technology available in the developed countries with the lower cost labor available in the developing countries?
A) licensing
B) joint ventures
C) production sharing
D) exporting
E) acquisitions
Q3) Discuss the key drivers for strategic fit between international alliance partners.
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Page 11
Chapter 10: Strategy Implementation: Organizing and Structure
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108 Verified Questions
108 Flashcards
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Sample Questions
Q1) Research generally supports Chandler's proposition that structure follows strategy as well as the reverse proposition that structure influences strategy.
A)True
B)False
Q2) There are three distinct phases in the development of a matrix structure.Which is the first phase to occur usually when a new product line is being introduced?
A) temporary cross-functional task forces
B) true dual-authority structure
C) product/brand management
D) immature matrix
E) mature matrix
Q3) The first stage of corporate development is the simple structure.
A)True
B)False
Q4) Microbreweries that make beer for sale for local customers use guerilla warfare against national brewers like Anheuser-Busch.
A)True
B)False
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Chapter 11: Strategy Implementation: Staffing and Directing
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110 Verified Questions
110 Flashcards
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Sample Questions
Q1) What percent of large U.S.companies have CEO succession plans in place?
A) 10
B) 25
C) 50
D) 75
E) 90
Q2) According to a study of downsizing in the U.S.automobile-related industry,all of the following are problems associated with inappropriate downsizing EXCEPT
A) outsourcing was eliminated.
B) blanket offers for early retirement prompted even valuable employees to leave.
C) surviving employees experienced decreased morale.
D) surviving employees had to do extra work in addition to their own.
E) the wrong jobs were eliminated.
Q3) Downsizing refers to the planned elimination of positions or jobs; it is often used to implement retrenchment strategies.
A)True
B)False
Q4) What are the four elements of the MBO process?
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Chapter 12: Evaluation and Control
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114 Verified Questions
114 Flashcards
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Sample Questions
Q1) Performance is the end result of activity.
A)True
B)False
Q2) What company pioneered the concept of benchmarking in the United States?
A) Walmart
B) Boeing
C) PepsiCo
D) Xerox Corp
E) Coca Cola
Q3) What is the difference between EVA and MVA?
Q4) Evaluation and control information consists only of performance data.
A)True
B)False
Q5) ROI stands for return on incentives.
A)True
B)False
Q6) The long-term evaluation method encourages executives to look at developmental expenses as being different from expenses required for current operations.
A)True
B)False
Page 14
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Chapter 13: Suggestions for Case Analysis
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) Which financial ratio measures the rate of return on the book value of shareholders' total investment in the company?
A) return on investment
B) return on equity
C) gross profit margin
D) net profit margin
E) earnings per share
Q2) What are constant dollars and why are they important?
Q3) Which financial indicator is calculated as the ratio of annual credit sales to accounts receivable?
A) days of cash
B) average collection period
C) accounts receivable turnover
D) inventory turnover
E) net working capital turnover
Q4) According to the Yankelovich Partners survey firm,eight out of ten portfolio managers and 75 percent of security analysts use annual reports when making decisions.
A)True
B)False
Page 15
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