Organizational Strategy
Exam Answer Key
Course Introduction
Organizational Strategy explores the frameworks, tools, and concepts essential for understanding how organizations achieve long-term goals and maintain competitive advantage. Through the study of internal and external environments, students learn to assess strategic challenges, formulate coherent strategies, and implement effective plans. The course covers topics such as industry analysis, resource allocation, innovation, leadership, and strategic decision-making, preparing students to analyze complex business situations and drive organizational success in a dynamic global environment.
Recommended Textbook
Strategic Management Creating Competitive Advantages 7th Edition by Gregory Dess
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12 Chapters
1171 Verified Questions
1171 Flashcards
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Chapter 1: Strategic Management: Creating Competitiveadvantages
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) Stakeholders are:
A) a new way to describe stockholders
B) individuals, groups, and organizations who have a stake in the success of the organization
C) creditors who hold a lien on the assets of the organization
D) attorneys and their clients who sue the organization
Answer: B
Q2) According to Henry Mintzberg,a management scholar,most firms realize their original intended strategy.
A)True
B)False
Answer: False
Q3) Vision statements are used to create a better understanding of the overall purpose and direction of the organization.Vision statements:
A) are very specific
B) provide specific objectives
C) set organizational structure
D) evoke powerful and compelling mental images
Answer: D
Page 3
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Chapter 2: Analyzing the External Environment Ofthe Firm:
Creating Competitive Advantages
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) The bargaining power of suppliers increases as ____________.
A) more suppliers enter the market
B) importance of buyers to supplier group increases
C) switching costs for buyers decrease
D) threat of forward integration by suppliers increases
Answer: D
Q2) Technological innovations can create entirely new industries and alter the boundaries of industries.
A)True
B)False
Answer: True
Q3) Although changes in the general environment may often adversely or favorably impact a firm,they seldom alter an entire industry.
A)True
B)False
Answer: False
Q4) Scenario planning is usually concerned with short-term forecasts.
A)True
B)False Answer: False
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Chapter 3: Assessing the Internal Environmentof the Firm
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97 Verified Questions
97 Flashcards
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Sample Questions
Q1) A strength of the balanced scorecard is that it is very easy to implement and that there is little need for executive sponsorship.
A)True
B)False
Answer: False
Q2) In considering the business from the internal business perspective using the balanced scorecard,periodic financial statements are used to indicate the consequences of improved quality,response time,productivity,and innovative products.These consequences include improved sales.
A)True
B)False
Answer: True
Q3) Amazon Prime is an example of a difficult to imitate capability that gives it competitive advantage over its rivals.
A)True
B)False
Answer: True
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Chapter 4: Recognizing a Firms Intellectual Assets: Moving
Beyond a Firms Tangibleresources
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90 Verified Questions
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Sample Questions
Q1) Today,the loyalty of a knowledge worker to his or her employing firm has __________ compared to his or her loyalty to his or her profession and colleagues.
A) increased
B) remained the same
C) decreased
D) no correlation when
Q2) Changes in our economy have forced firms to be more concerned with protecting their ______.
A) knowledge workers
B) social capital
C) intellectual capital
D) all of these
Q3) In an effort to capture key employees from competitors,firms may attract the symbolic leader of a group within a competing firm and hope others will follow.This has been termed _____________.
A) the Columbus effect
B) knowledge integration
C) the Pied Piper effect
D) strategically competitive hiring
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Chapter 5: Business-Level Strategy: Creating
Andsustaining Competitive Advantages
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) The most likely time to pursue a harvest strategy is in a situation of _______.
A) high growth
B) strong competitive advantage
C) decline in the market life cycle
D) mergers and acquisitions
Q2) A firm can attain an overall cost leadership position by increasing the management layers in order to reduce overhead costs.
A)True
B)False
Q3) The example of Lexus automobiles in the text points out that a firm can strengthen its differentiation strategy by achieving integration at multiple points along the value chain.
D. Power customer satisfaction ratings. It found that quality perceptions (design, engineering, and manufacturing) can be strongly influenced by downstream activities in the value chain (marketing and sales, service).
A)True
B)False
Q4) Discuss some of the effective turnaround strategies.
Page 7
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Chapter 6: Corporate-Level Strategy: Creatingvalue Through Diversification
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) Through joint ventures,firms can directly acquire the assets and competencies of other firms.
A)True
B)False
Q2) Sharing activities across business units can provide two primary benefits: cost savings and revenue enhancements.
A)True
B)False
Q3) When firms diversify into unrelated businesses,the primary potential benefits are horizontal relationships,i.e.,businesses sharing tangible and intangible resources.
A)True
B)False
Q4) Unbalanced capacities that limit cost savings,difficulties in combining specializations,and reduced flexibility are disadvantages associated with
A) strategic alliances
B) divestment
C) horizontal integration
D) vertical integration
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Chapter 7: International Strategy: Creating Valuein Global Markets
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101 Flashcards
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Sample Questions
Q1) PepsiCo successfully captured the Indian market by using a joint venture strategy.
A)True
B)False
Q2) Recent trends that might lead managers of multinational corporations (MNCs)to adopt a more decentralized strategy for their operations would include all of the following EXCEPT ______.
A) customer needs, interests, and tastes becoming increasingly homogenized
B) consumers around the world increasingly willing to tradeoff idiosyncratic preferences in product features for lower price
C) flexible manufacturing trends allowing a decline in the minimum volume required to reach acceptable levels of production efficiency
D) fluctuating exchange rates
Q3) Offshoring takes place when a firm decides to shift an activity that they were previously performing in a domestic location to a foreign location.
A)True
B)False
Q4) What are the main benefits of offshoring and outsourcing?
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Chapter 8: Entrepreneurial Strategy and Competitive Dynamics
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) When attacked,older and larger firms tend to respond more quickly,but their responses are often more predictable.
A)True
B)False
Q2) Which of the following is not a factor that makes it more difficult for new ventures to be successful as differentiators?
A) The strategy is thought to be expensive to put into action.
B) Establishing a brand, important to a differentiation strategy, is thought to be expensive.
C) Superior innovation is often very costly.
D) Customer service is often costly, but it does not affect a differentiation strategy.
Q3) Pandora,launched in 2000,radically changes the radio business with its Music Genome Project system that analyzes music for its underlying traits.This is an example of a pioneering new entry strategy.
A)True
B)False
Q4) In the context of competitive dynamics,what factors determine the likelihood of a competitive response?
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Chapter 9: Strategic Control and Corporategovernance
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Which of the following is NOT one of the characteristics of a contemporary control system?
A) It is a key catalyst for an ongoing debate about underlying data, assumptions, and action plans.
B) It must focus on constantly changing information that is strategically important.
C) It circumvents the need for face-to-face meetings among superiors, subordinates, and peers.
D) It generates information that is important enough to demand regular and frequent attention.
Q2) Changes in board of director configurations since 1987 indicate that board directors were paid more in 2011,were older,were likely to be female and were independent from the company (not insiders).
A)True B)False
Q3) What value do effective strategic control systems provide to the implementation of strategy?
Q4) Identify at least three external control mechanisms.Discuss the role played by each of these.
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Chapter 10: Creating Effective Organizational Designs
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Sample Questions
Q1) Discuss the uses and limitations of the modular organizational structure.What is the role of outsourcing in the modular organization?
Q2) What is the name of the practice that many modular organization use to grow?
A) operational effectiveness
B) outsourcing
C) strategic leveraging
D) strategic enabling
Q3) When an organization with a functional structure diversifies into related product-markets,it generally _____________.
A) maintains its functional structure
B) develops a divisional structure
C) develops a matrix structure
D) develops a worldwide product-division structure
Q4) When a firm has international operations,choosing the most appropriate structure depends upon the extent of international expansion,the type of strategy,and the degree of market diversity.
A)True
B)False
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Chapter 11: Strategic Leadership: Creating a Learning
Organization and an Ethical Organization
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) To successfully empower employees to achieve organizational goals,leaders must perform the tasks of resource allocation and power brokering.
A)True
B)False
Q2) Setting a direction is the leadership activity that involves developing a strategic vision of what the organization could become.
A)True
B)False
Q3) Leaders play a key role in developing and sustaining organization
A) status quo
B) culture
C) reporting relationships
D) rules and regulations
Q4) How can developing and maintaining a high ethical standard benefit an organization? Give examples and describe the effects the examples have had on the organization and/or its stakeholders.
Q5) Explain how a leader might use informal means to accomplish organizational change.Provide an example.
Q6) What are some of the potential drawbacks of emotional intelligence? Page 13
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Chapter 12: Managing Innovation and Fosteringcorporate Entrepreneurship
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) One of the following is not a type of risk that executives must address.Which is it?
A) business risk taking
B) financial risk taking
C) personal risk taking
D) product-market risk taking
Q2) McGrath and Keil researched the types of human resource management practices that effective firms use to capture value from their innovation efforts.Which of the following is not one of their findings?
A) Create innovation teams with experienced players.
B) Require that employees serve in the new venture group as part of their career climb.
C) Transfer people to mainstream management positions after they have experience in the new venture group.
D) Integrate the performance of individuals with the performance of the innovation.
Q3) What are the five dilemmas that most firms face,when trying to determine the best way to manage the innovation process?
Q4) What are some of the pitfalls of real options analysis (ROA)?
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