Strategic Management
Textbook Exam Questions
Course Introduction
Strategic Management is a capstone course that explores the formulation, implementation, and evaluation of cross-functional decisions enabling an organization to achieve its long-term objectives. Students examine tools and frameworks for analyzing internal and external environments, identifying competitive advantages, and setting strategic direction. Emphasizing real-world case studies, the course covers topics such as corporate governance, business-level and corporate-level strategies, sustainability, innovation, and change management. By the end of the course, students will develop the practical skills to craft and execute strategies in dynamic, complex business environments.
Recommended Textbook
Business and Society Ethics Sustainability and Stakeholder Management 8th Edition by Archie
B.
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Chapter 1: The Business and Society Relationship
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Q1) Segments of business's macroenvironment include all of the following except
A)the social environment.
B)the natural environment.
C)the economic environment.
D)the political environment.
Answer: B
Q2) When speaking of business in the collective sense,the textbook will most often be focusing on big business.
A)True
B)False
Answer: True
Q3) The government,consumers,and members of the community are examples of A)stockholders.
B)the technological environment.
C)external stakeholders.
D)primary stakeholders.
Answer: C
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Chapter 2: Corporate Citizenship: Social Responsibility,
Responsiveness, and Performance
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Q1) The socially responsible firm should strive to do all of the following EXCEPT
A)Make a profit
B)Overt the law
C)Be ethical
D)Be a good corporate citizen
Answer: B
Q2) The first and primary argument for corporate social responsibility is
A)it is a way to gain more power.
B)business is best equipped to handle social problems.
C)it is in business's long range interest to be socially responsible.
D)the free-market economic system has proven to be ineffective in dealing with social problems.
Answer: C
Q3) The Triple Bottom Line encompasses all of the following spheres of performance except A)economic.
B)social.
C)environmental.
D)philanthropic.
Answer: D
Page 4
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Chapter 3: The Stakeholder Approach to Business, Society, and Ethics
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Q1) Which of the following is not listed as a question to ask in order to gain the essential information needed for stakeholder management?
A)Who are our stakeholders?
B)What do our stakeholders want?
C)What are our stakeholders' stakes?
D)What opportunities and challenges do our stakeholders present to the firm?
Answer: B
Q2) A group of people who represents the interests of a nonhuman species (such as the natural environment)and does not have a direct stake in the firm is known as
A)primary social stakeholders.
B)secondary social stakeholders.
C)primary nonsocial stakeholders.
D)secondary nonsocial stakeholders.
Answer: D
Q3) The stakeholder model has normative value because it emphasizes how stakeholders should be treated.
A)True
B)False
Answer: True
Page 5
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Chapter 4: Corporate Governance: Foundational Issues
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Q1) Executive Excess reports that in 2009 the ratio of CEO pay to average workers' pay was
A)620 to 1.
B)319 to 1.
C)1,063 to 1.
D)18 to 1.
Q2) Provide a short answer to each of these questions.Be sure to fully explain your answer.
What are the two main issues associated with CEO pay?
Q3) Managers have successfully lobbied Congress to make shareholder lawsuits very difficult to file.
A)True
B)False
Q4) The board's compensation committee has responsibility for
A)setting directors' pay scales.
B)making sure that all employees are paid a fair wage.
C)evaluating executive performance and recommending terms and conditions of employment.
D)determining what bonuses should be paid and to whom.
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Chapter 5: Strategic Management and Corporate Public Affairs
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Q1) Utilize the knowledge you have gained to respond to the following essay questions.Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it. Assume that you manage the public affairs office for a large American financial investment firm.Your company has decided to pay incentive bonuses to individuals for the number and volume of investment exchanges made.Using the knowledge that you have gained so far in this class (i.e. ,from all chapters and discussions),develop a policy on incentive bonuses for the firm's public affairs office.
Q2) For the public affairs function to be effective in representing issues affecting business decision making,they should have influence at the middle management level.
A)True
B)False
Q3) Which of the following terms does not refer to the same thing?
A)social audit
B)social performance report
C)social accounting
D)social impact statement
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Chapter 6: Issues Management and Crisis Management
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Q1) Which of the following is not an assumption we make when we use issues management?
A)Issues can be identified earlier and more completely than in the past.
B)Early anticipation of issues gives the firm more options.
C)Issues are so complex that firms have little chance to resolve them favorably.
D)The firm will be able to identify stakeholders earlier than in the past.
Q2) When managers consider issues that affect their firm,they often ignore
A)ethical considerations.
B)financial concerns.
C)personnel matters.
D)personal stakes.
Q3) Issues often keep
A)their own resolutions.
B)crisis plans living.
C)ethical dilemmas that affect just the company.
D)positive financial impacts.
Q4) Provide a short answer to each of these questions.Be sure to fully explain your answer.
Describe some of the major differences between issues management and crisis management.
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Chapter 7: Business Ethics Fundamentals
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Q1) Immoral management implies that decision makers know right from wrong,but choose to do wrong.
A)True
B)False
Q2) Ethical behavior is generally considered to be on a higher plane than legal behavior.
A)True
B)False
Q3) Public interest in business ethics has heightened over each of the past three decades.
A)True
B)False
Q4) The individual hypothesis regarding ethical management models is
A)the three models approximate a normal,bell-shaped curve.
B)that individuals managers utilize all three of the models at different times and situations.
C)that individual managers emphasize one of the three models over the others.
D)that individual managers attempt to match the model they use to the particular situation.
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Chapter 8: Personal and Organizational Ethics
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Q1) Ethical issues at the organizational level
A)represent conflicts between two or more companies.
B)display conflicts between a person's role as family member and employee.
C)are generally more difficult to solve than issues at the personal level.
D)confront people in their roles as managers or employees.
Q2) Provide a short answer to each of these questions.Be sure to fully explain your answer.
Compare and contract compliance vs.ethics orientation.
Q3) Provide a short answer to each of these questions.Be sure to fully explain your answer.
One criticism of ethics hotlines is that most of the reported wrongdoings are false accusations,which can cause great harm to company morale.
Q4) The test of one's best self relies on the concept of A)self esteem.
B)individual motivation.
C)self leadership.
D)self delusion.
Q5) The ethical principle of rights is categorized as a teleological theory.
A)True
B)False
Page 10
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Chapter 9: Business Ethics and Technology
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Q1) The technology related to the Internet has shifted the burden onto individual employees to monitor their own workplace activities.
A)True
B)False
Q2) With regard to data security,data breaches are on the rise.
A)True
B)False
Q3) Our world is currently dominated by
A)industrial technology.
B)robotics.
C)information technology and biotechnology.
D)spiritual technology.
Q4) The most intensely monitored employee activities are
A)productivity and break times.
B)alcohol and tobacco consumption.
C)e-mail and Internet usage.
D)break times and absenteeism.
Q5) Provide a short answer to each of these questions.Be sure to fully explain your answer.
Evaluate the Government's involvement in internet privacy protection.
Page 11
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Chapter 10: Ethical Issues in the Global Arena
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Q1) Provide a short answer to each of these questions.Be sure to fully explain your answer.
Describe the changing nature of multinational corporations over the past century.
Q2) The most challenging situation for an MNC to face is
A)operating in socialist countries.
B)operating in more than ten countries at the same time.
C)operating is less-developed countries.
D)operating without a clearly defined strategic plan.
Q3) One of the ethical issues that is exacerbated by operating in an developing countries is that the host nation's citizens often do not understand the technology being used,nor do they recognize its potential dangers.
A)True
B)False
Q4) Utilize the knowledge you have gained to respond to the following essay questions.Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it. Make a case for paying premium wages to workers in less-developed countries.
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Chapter 11: Business,Government,and Regulation
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Q1) The question of whether current public functions should be performed by the government or private sector is addressed by A)industrial policy.
B)privatization.
C)central planning.
D)moral suasion.
Q2) The public and government use all of the following methods of influencing each other except A)politicking.
B)voting.
C)forming special-interest groups.
D)coercion.
Q3) Keeping people informed is an important social goal of government. A)True
B)False
Q4) Government intervention in monopolistic industries is often brought about by A)requests from smaller competitors.
B)class-action lawsuits.
C)anticompetitive practices.
D)frequent bankruptcies within the industries.
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Chapter 12: Business Influence on Government and Public Policy
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Q1) Lobbying efforts that do not represent the genuine concerns of the citizens supposedly involved is called
A)grassroots lobbying.
B)astroturf lobbying.
C)cyberadvocacy.
D)company lobbying.
Q2) The number of registered lobbyists has decreased along with the amount of money spent on lobbying.
A)True
B)False
Q3) So many loopholes in federal regulations have been closed that the only way for business to circumvent regulations is by avoiding taxes.
A)True
B)False
Q4) Leadership PACs were designed to allow lawmakers holding safe seats to funnel money to colleagues without a risk of not being reelected.
A)True
B)False
Page 14
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Chapter 13: Consumer Stakeholders: Information Issues and Responses
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Q1) The Federal Trade Commission (FTC)
A)maintains free and fair completion in the economy.
B)protects misleading practices.
C)authorizes industry-wide trade regulation rules.
D)Monitors competitive practices.
Q2) Provide a short answer to each of these questions.Be sure to fully explain your answer.
Describe the ways in which the Internet has facilitated the consumer movement.
Q3) Which of the following is not a lesson from the consumer movement?
A)Product safety and consumer protection processes have flaws.
B)In the United States consumers must fight overconsumption.
C)Consumers can force companies to change their behaviors through boycotts.
D)The consumer movement is essential for achieving a fair and just marketplace.
Q4) The right to be heard was listed as part of the consumer's Magna Carta because
A)consumers should have a say in a store's hours of operations.
B)many consumers felt that they could not effectively communicate their desires and grievances to businesses.
C)everyone wants to feel that others listen to them.
D)because business has refused to listen to customers.
Page 15
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Chapter 14: Consumer Stakeholders: Product and Service Issues
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Q1) The standard of absolute liability is less demanding than that of strict liability. A)True
B)False
Q2) Provide a short answer to each of these questions.Be sure to fully explain your answer.
Law judge Roy Pearson and Jack Cline have both experienced issues of product liability according to the text.What is the double-edged sword of tort reform?
Q3) Early research conducted in the organization later known as the Food and Drug Administration fed small doses of poison to A)rats.
B)chimpanzees.
C)the "Death Squad."
D)the "Poison Squad."
Q4) Provide a short answer to each of these questions.Be sure to fully explain your answer.
What has caused the expansion of the doctrine of strict liability concept?
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Chapter 15: The Natural Environment As Stakeholder
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Q1) Energy inefficiency is
A)an ecological system cycle.
B)the balance on nonrenewable sources of energy around the world.
C)biological phenomena.
D)the wasting of precious nonrenewable sources of energy.
Q2) Provide a short answer to each of these questions.Be sure to fully explain your answer.
What is the focus of sustainability?
Q3) Existing water rendered unusable is A)wasted.
B)polluted.
C)decayed.
D)drossed.
Q4) Like most activist groups,the environmental interest groups have had little success dealing with business.
A)True
B)False
Q5) Provide a short answer to each of these questions.Be sure to fully explain your answer.
What are the likely effects of degraded marine environments?
Page 17
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Chapter 16: Business and Community Stakeholders
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Q1) Provide a short answer to each of these questions.Be sure to fully explain your answer.
Discuss how Transparency International fulfills its mission to deter and disclose corporate corruption around the world.
Q2) Monitoring the company's community involvement projects entails review and control.
A)True
B)False
Q3) Which of the following is not a standard of excellence by which corporate community involvement should be judged?
A)crisis management
B)accountability
C)infrastructure
D)measurement
Q4) Cause-related marketing is one of the clearest examples of corporate philanthropy.
A)True
B)False
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Chapter 17: Employee Stakeholders and Workplace Issues
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Q1) The idea that the relationship between a worker and employer is voluntary and can be terminated at any time,by either party,is the
A)employment-at-will doctrine.
B)due process principle.
C)corporate governance system.
D)arbitrary employment doctrine.
Q2) The trend toward using Alternative Dispute Resolution (ADR)is growing.
A)True
B)False
Q3) Provide a short answer to each of these questions.Be sure to fully explain your answer.
Explain why the private sector has historically not had to observe individuals' rights.
Q4) Companies have given special consideration to employees' rights to due process only in the past thirty-five years.
A)True
B)False
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Chapter 18: Employee Stakeholders: Privacy, safety, and Health
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Q1) Provide a short answer to each of these questions.Be sure to fully explain your answer.
Describe the theory behind the polygraph.Does this theory provide an adequate basis for the use of lie detectors?
Q2) One main reason that business has turned its attention to employee health issues is A)concern for their well-being.
B)rising costs.
C)reduced productivity.
D)the threat of contagious diseases.
Q3) Integrity tests are known as the father of the polygraph.
A)True
B)False
Q4) Provide a short answer to each of these questions.Be sure to fully explain your answer.
According to the American Lung Association,an employee who smokes costs the business at least an extra $1,000 each year in added health care costs.Is cost a legitimate issue when considering the implications of smoking in the workplace?
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Chapter 19: Employment Discrimination and Affirmative Action
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Q1) The Supreme Court has consistently held that states' rights prevail over civil rights. A)True
B)False
Q2) The Civil Rights Act of 1964 grew out of A)Lyndon Johnson's "Great Society."
B)the protests and boycotts formed in the 1950s and 1960s. C)slavery.
D)pressure from the Roman Catholic church.
Q3) The Equal Pay Act of 1963
A)applies to pay differences based on seniority.
B)determines wages on the basis of quantities produced.
C)prohibits discrimination between men and women on the basis of sex in payment of wages.
D)applies to pay differences on the basis of merit.
Q4) The Rehabilitation Act of 1973,Section 503 prohibits job discrimination based on A)being injury prone.
B)disability
C)physical limitations as a result of injury.
D)age.
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