Strategic Management
Exam Materials
Course Introduction
Strategic Management examines the processes by which organizations analyze their internal and external environments, formulate strategies, and implement them to achieve sustainable competitive advantage. The course covers key concepts such as industry analysis, strategy formulation, competitive positioning, resource allocation, and performance evaluation. Through case studies, real-world examples, and analytical frameworks, students will learn to assess strategic opportunities and challenges, make informed strategic decisions, and understand the ethical, global, and technological factors that influence long-term organizational success.
Recommended Textbook
Strategic Management Creating Competitive Advantages 8th Edition by Gregory Dess
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12 Chapters
1723 Verified Questions
1723 Flashcards
Source URL: https://quizplus.com/study-set/2713
Page 2
Chapter 1: Strategic Management: Creating Competitive Advantages
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174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/54121
Sample Questions
Q1) Shareholders expect only short-term value and therefore good managers should only focus on meeting short-term performance targets.
A)True
B)False
Answer: False
Q2) The Sustainable Apparel Coalition accounts for more than one-third of the global
A)apparel and washing product industry.
B)consumer product industry.
C)refinery industry.
D)apparel and footwear industry.
Answer: D
Q3) Supplier stakeholders are concerned with
A)assurance of a continued relationship with the firm.
B)employee benefits.
C)safe working conditions.
D)capital appreciation.
Answer: A
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Page 3
Chapter 2: Analyzing the External Environment of the Firm:
Creating Competitive Advantages
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173 Verified Questions
173 Flashcards
Source URL: https://quizplus.com/quiz/54120
Sample Questions
Q1) New communication technology can impact seemingly unrelated industries such as the airline industry. This would be an example of a
A)threat of entry.
B)backward integration.
C)threat of substitute products.
D)forward integration.
Answer: C
Q2) In 2014, Audi introduced the Q3 SUV at a base price of only $32,500. And BMW, with its 1-series, is another well-known example. Such cars, priced in the low $30,000s, compete more directly with products from broad-line manufacturers like Ford, General Motors, and Toyota. This suggests that members of a strategic group can overcome _____ barriers and migrate to other groups that they find attractive if they are willing to commit time and resources.
A)mobility
B)competitive
C)pricing
D)cost
Answer: A
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Chapter 3: Assessing the Internal Environment of the Firm
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174 Verified Questions
174 Flashcards
Source URL: https://quizplus.com/quiz/54119
Sample Questions
Q1) At Sephora.com, a customer service representative taking a phone call from a repeat customer has instant access to what shade of lipstick she likes best. This is an example of a procurement support activity in the value chain.
A)True
B)False
Answer: False
Q2) Focusing too narrowly on current customers, technologies, and competitors can lead to a failure to notice important changes on the periphery of their environment that may trigger the need to redefine industry boundaries and identify a whole new set of competitive relationships. This is a result of relying
A)on traditional definitions of all industries and competitive environments.
B)on traditional definitions of the relevant industry and competitive environment.
C)solely on intuition.
D)on a superficial evaluation of the relevant industry and competitive environment.
Answer: B
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5
Chapter 4: Recognizing a Firms Intellectual Assets: Moving
Beyond a Firms Tangible Resources
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173 Verified Questions
173 Flashcards
Source URL: https://quizplus.com/quiz/54118
Sample Questions
Q1) Knowledge-based resources tend to be more ______ in nature and therefore they are ________ difficult to protect against loss (i.e., the individual quitting the organization) than other types of capital, such as equipment, machinery, and land. A)explicit; less B)explicitly; more C)tacit; less D)tacit; more
Q2) As markets become increasingly dynamic, traditional sources of long-term competitive advantage become more relevant.
A)True
B)False
Q3) The state must protect intellectual property rights reliably for companies to continue developing new products and services.
A)True
B)False
Q4) Knowledge-based resources tend to be more explicit in nature. A)True
B)False
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Chapter 5: Business-Level Strategy: Creating and Sustaining Competitive Advantages
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163 Verified Questions
163 Flashcards
Source URL: https://quizplus.com/quiz/54117
Sample Questions
Q1) Firms can underestimate the challenges and expenses associated with coordinating value-creating activities in the extended value chain. This is an advantage of integrated overall cost leadership and differentiation.
A)True
B)False
Q2) The Yugo car was cheap, but it was poorly made. Consumers did not purchase it. This is an example of failure to attain parity on the basis of differentiation.
A)True
B)False
Q3) A firm following a focus strategy must focus on
A)governmental regulations.
B)a market segment or group of segments.
C)rising cost of inputs.
D)avoiding entering international markets.
Q4) Dell lost its competitive advantage starting in 2007 because it
A)did not deliver innovations to respond to changing market demand.
B)developed a highly performant just-in-time delivery system.
C)did not reward its employees.
D)let suppliers have dominant power.
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Chapter 6: Corporate-Level Strategy: Creating Value Through Diversification
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114 Verified Questions
114 Flashcards
Source URL: https://quizplus.com/quiz/54116
Sample Questions
Q1) One of the reasons that the Cisco acquisition of the Flip product failed is that the core businesses were very different.
A)True
B)False
Q2) Related diversification enables a firm to benefit from horizontal relationships across different businesses in the diversified corporation by leveraging core competencies and sharing activities.
A)True B)False
Q3) Corporate-level strategy focuses on gaining short-term revenue through managing operations in multiple businesses.
A)True
B)False
Q4) Benefits derived from horizontal and hierarchical relationships are mutually exclusive.
A)True B)False
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Chapter 7: International Strategy: Creating Value in Global Markets
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140 Verified Questions
140 Flashcards
Source URL: https://quizplus.com/quiz/54115
Sample Questions
Q1) Theodore Levitt, a marketing strategist, argued that people around the world are willing to sacrifice preferences in product features, functions, and design for lower prices and lower quality.
A)True
B)False
Q2) Regions represent the outcomes of centuries of political and cultural history that results in not only _________ but also mutual _____________.
A)differences; expectations
B)similarities; expectations
C)commonalities; losses
D)commonalities; affinities
Q3) Regionalization is most important because it permits companies to organize their activities based upon
A)physical distance between the home country and the foreign country.
B)the extrinsic distance between the home country and the foreign country.
C)the true distance between the home country offer and the foreign country.
D)shareholder expectations.
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Page 9
Chapter 8: Entrepreneurial Strategy and Competitive Dynamics
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115 Verified Questions
115 Flashcards
Source URL: https://quizplus.com/quiz/54114
Sample Questions
Q1) Which of the following refers to a situation where a company has a high concentration of its business in a particular industry market?
A)competitor resources
B)resource similarity
C)market dependence
D)actor reputation
Q2) Which of the following is NOT one of the three characteristics of entrepreneurial leadership mentioned by the text?
A)clarifying job responsibilities
B)dedication and drive
C)commitment to excellence
D)vision
Q3) Competitive dynamics of the rivalry among similar competitors can alter company strategy.
A)True
B)False
Q4) Forbearance is a particularly aggressive type of competitive attack.
A)True
B)False
Page 10
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Chapter 9: Strategic Control and Corporate Governance
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116 Verified Questions
116 Flashcards
Source URL: https://quizplus.com/quiz/54113
Sample Questions
Q1) Public companies are required by law to disclose information regarding executive compensation packages.
A)True
B)False
Q2) The primary participants in corporate governance do not include the A)shareholders.
B)financial institutions.
C)management (led by the chief executive officer).
D)board of directors.
Q3) Double-loop learning in the contemporary approach to strategic control means that the organizational assumptions, premises, goals and strategies are occasionally monitored, tested, and reviewed.
A)True
B)False
Q4) In order to have effective board operations, firms need to cultivate engaged and committed boards.
A)True
B)False
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Chapter 10: Creating Effective Organizational Designs
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121 Verified Questions
121 Flashcards
Source URL: https://quizplus.com/quiz/54112
Sample Questions
Q1) Successful organizations create ______ boundaries among the _____ activities as well as between the organization and its external customers, suppliers, and alliance partners.
A)impermeable; external
B)impermeable; internal
C)permeable; external
D)permeable; internal
Q2) According to the study by O'Reilly and Tushman, effective ambidextrous structures had all of the following attributes except
A)a clear and compelling vision.
B)managerial efforts were highly focused on revenue enhancement.
C)cross-fertilization among business units.
D)established units were shielded from the distractions of launching new businesses.
Q3) The virtual type of organization is a network of independent companies linked together to share skills, costs, and access to the markets of each other.
A)True
B)False
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Chapter 11: Strategic Leadership: Creating a Learning
Organization and an Ethical Organization
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139 Verified Questions
139 Flashcards
Source URL: https://quizplus.com/quiz/54111
Sample Questions
Q1) Which of the following is not a guideline an organization can use to promote the challenging of the status quo?
A)establishing a culture of dissent
B)forcefully creating a sense of urgency
C)fostering a culture that encourages risk taking
D)creating a results-based reward system
Q2) According to Michael Williams, director of Entrepreneurship Activities and the Business and Entrepreneurship Clinic at the University of Wisconsin-Madison School of Business, effective leaders ____________ themselves with exceptional people and are trusted and fantastic ____________.
A)surround; communicators
B)enable; entertainers
C)carry; motivators
D)excite; enablers
Q3) Leaders are not expected to accept personal responsibility for ethical behavior in an organization, because ethics is a matter of individual choice.
A)True
B)False
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Chapter 12: Managing Innovation and Fostering Corporate
Entrepreneurship
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121 Verified Questions
121 Flashcards
Source URL: https://quizplus.com/quiz/54110
Sample Questions
Q1) Real options logic is useful when corporations consider stock options as a way to finance entrepreneurial ventures.
A)True
B)False
Q2) Most CE programs have strategic goals. The reasons for undertaking a corporate venture include maintaining the corporation base of resources and experience.
A)True
B)False
Q3) In corporations with a strong entrepreneurial culture, the willingness and ability to change
A)is imposed from the top-down.
B)is considered a core capability.
C)often leads to instability.
D)often worries stakeholders such as suppliers and creditors.
Q4) Corporate ventures that use real options logic in decision making tend to keep total investment low in order to minimize the downside risk of a project.
A)True
B)False
Page 14
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