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Strategic Management

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Quiz on Strategic Management, created by Clair Hat on 31/08/2016.
Clair Hat
Quiz by Clair Hat, updated more than 1 year ago
Clair Hat
Created by Clair Hat over 8 years ago
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Resource summary

Question 1

Question
The purpose of diversification is _______________________
Answer
  • to allow the company to enter lines of business that are different from current operations.
  • to quit the current business and continue with the newly started business.
  • to change the business location.
  • to introduce substitute products in the existing market.

Question 2

Question
Market Penetration means ________________________
Answer
  • market development/geographic expansion
  • aggressively targeting current markets with existing product specialties
  • dividing existing markets
  • modify existing products, or develop new but related products

Question 3

Question
From the following which is the example of Conglomerate diversification type?
Answer
  • Coke acquires Minute Maid
  • Ford buys steel plant
  • GE diversifies into aircraft engines, medical imaging equipment, generators, nuclear reactors, finance
  • Avon’s move from Door-to-Door selling to selling its products by mail orders.

Question 4

Question
Economies of scope exist whenever _________________________
Answer
  • there are cost economies from decreasing output across multiple products
  • there are cost economies fromdecreasing output of a single product
  • there are cost economies from increasing output of a single product and decreasing output of a multiple products
  • there are cost savings from using a resource in multiple activities carried out in combination rather than independently

Question 5

Question
Concentric merger is defined as ________________________________
Answer
  • A merger in which the two companies are in the same general industry, but have no mutual buyer/customer or supplier relationship.
  • The merger of two companies that are in direct competition in the same industry and have similar products and markets
  • The merger of a customer and company or a supplier and company
  • The purchase of one company by another

Question 6

Question
Joint venture is defined as ____________________________
Answer
  • Partnering a project with an existing overseas business to gain entry into a foreign market
  • Contractual arrangements that gives rights to operate under another’s trademark
  • Selling products or services directly to customers or indirectly through agents, distributors, or trading companies
  • Establishing a company’s own facility with direct supervision. High cost and risk of overseas subsidiary

Question 7

Question
From the following which is a drawback of Alliances?
Answer
  • Shared risk
  • Shared knowledge & expertise
  • Synergy & competitive advantage
  • Distribution of earnings

Question 8

Question
Which of the following corporate strategy involves downsizing the company?
Answer
  • Liquidation
  • Turnaround
  • Divestiture
  • Amalgamation

Question 9

Question
Find the Operations level strategy from the following:
Answer
  • Responsible for determining which products to provide, how they will be packaged, how they will be advertised, where they will be sold and how they will get there and etc.
  • Responsible for systems processes that convert inputs into outputs.
  • Responsible for working with all the other functional departments in the areas of recruiting, selecting, training, evaluating, and compensating employees.
  • Research and development (R&D) is important to remaining competitive.

Question 10

Question
If a company decides to pursue new customers, new products & new geographic locations – Which type of integration strategy is this?
Answer
  • Vertical Integration
  • Related Integration
  • Horizontal Integration
  • Unrelated Integration

Question 11

Question
According to Mintzberg’s Five P’s of Strategy, Ploy stands for _________________
Answer
  • A consciously intended course of action
  • What worked in past can work in the future
  • Specific maneuvers to outsmart opponents
  • Influence of culture & collective thinking on organizational strategy

Question 12

Question
According to Strategic Planning Process, Which of the following is Phase 1?
Answer
  • Formulation - Deciding best course of action to achieve organization objectives
  • Development - Performing environmental scanning (SWOT)
  • Implementation - Putting the strategy into action by driving it through the organization
  • Evaluation - Is the strategy working & meeting organizational objectives?

Question 13

Question
Competitive advantage means _______________________________
Answer
  • creating an observable difference between products, services, and the way in which a business operates, relative to competitors
  • a corporate strategy to enter into a new market or industry which the business is not currently in, whilst also creating a new product for that new market.
  • allowing a company to expand into new end markets as well as provide a significant benefit to customers.
  • a characteristic, feature or opportunity that an organization possesses that will make it more attractive than its competitors

Question 14

Question
The term Mission referred as __________________________
Answer
  • the desired long term, future state of the organization
  • it clearly show why the organization exists
  • the standard of behavior the organization sets for itself and its staff members
  • the operating philosophies or principles that guide an organization's internal conduct as well as its relationship with its customers, partners, and shareholders.

Question 15

Question
Defender’s strategy in the Public sector ______________________
Answer
  • Find opportunities for change
  • Resist change
  • Changes only when forced
  • Scan the environment

Question 16

Question
Corporate Governance is referred as _____________________________
Answer
  • a governing body to look after only the employee affairs of an organisation
  • the process of how financial strategic decisions are made and controlled
  • the process of how important strategic decisions are made and controlled in organizations
  • a governing body to care for only the legal affairs of an organisation

Question 17

Question
Which of the following is an external factor of corporate governance mechanism?
Answer
  • Corporate Market Control
  • Audit Committees
  • Governing Board
  • Ownership Concentration

Question 18

Question
Find the service role of a Governing board
Answer
  • Allocate resources for implementation
  • Representing organizational interests
  • Corporate control
  • Formulate & disseminate corporate goals & policies

Question 19

Question
Recycling program is a Value creation of
Answer
  • Production
  • People
  • Profit
  • Planet

Question 20

Question
“Carbon Footprint” comes under which of the PESTLE element?
Answer
  • Political
  • Economic
  • Environmental
  • Social

Question 21

Question
“Sophistication of customers” belongs to which of the Porter’s Diamond element?
Answer
  • Factor Conditions
  • Related & Supported Industries
  • Demand Conditions
  • Strategy, Structure, & Rivalry

Question 22

Question
Which of the following is one of the vertical element of Porter’s Five forces model?
Answer
  • competition from substitutes
  • competition from entrants
  • competition from established rivals
  • the power of customers.

Question 23

Question
_________________ is a product’s performance characteristics and attributes for which customers are willing to pay.
Answer
  • Value
  • Price
  • Demand
  • Competitive Advantage

Question 24

Question
Market segments are _____________________
Answer
  • the group of customers segmented based on age
  • the group of customers segmented based on location
  • the groups of customers with similar criteria for buying decisions and/or similar buying behaviors
  • the group of customers segmented based on income level

Question 25

Question
Lifestyle and personality of customers is segmented under which of the following segmented factor?
Answer
  • Geographic factors
  • Psychological factors
  • Consumption patterns
  • Perceptual factors

Question 26

Question
One of the following is a support activity of Value chain. Find it.
Answer
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Human Resource Management

Question 27

Question
Distinctive competency means ____________________
Answer
  • Something a company does well relative to its rivals.
  • Activities that an organization performs better than its other internal activities and that are most critical to competitiveness and profitability
  • Activities including external activities, which is beyond their capacity
  • Internal and external potential of an organisation

Question 28

Question
Reputation is an ____________________ resources of an organisation.
Answer
  • Intangible
  • Tangible
  • Human
  • Technological

Question 29

Question
According to VRIO framework, R means _________________________
Answer
  • Is the firm able to exploit an opportunity or neutralize an external threat with the resource/capability?
  • Is control of the resource/capability in the hands of a relative few?
  • Is it difficult to imitate, and will there be significant cost disadvantage to a firm trying to obtain, develop, or duplicate the resource/capability?
  • Is the firm organized, ready, and able to exploit the resource/capability?

Question 30

Question
According to (Hamel) Leveraging Core Competencies, Restructuring is which of the following Leveraging Capability?
Answer
  • Being better
  • Being smaller
  • Being different
  • Being same

Question 31

Question
The _______________ has its own business strategy, objectives and competitors and these are often differ from parent company.
Answer
  • Strategic Business Unit structure
  • Matrix structure
  • Divisional structure
  • None of given options

Question 32

Question
__________________ as the process through which economic and social value is extracted from knowledge through the generation, development, and implementation of ideas to produce new or improved strategies, capabilities, products, services, or processes.
Answer
  • Discovery
  • Invention
  • Innovation
  • Development

Question 33

Question
_____________ is defined as Leveraging the variance between actual reality and perceived or assumed reality, which is one among the sources of innovation.
Answer
  • New knowledge
  • The incongruity
  • Industry or market structure changes
  • Changes in perception, mood and meaning.

Question 34

Question
Establishing reliability of new processes is __________________ innovation.
Answer
  • Product
  • Process
  • People
  • Production

Question 35

Question
Superior access to information and Overreacting to new information is _____________ type of market setting.
Answer
  • Efficient
  • Production
  • Consumer
  • Trading

Question 36

Question
Low market penetration is ________________ evolutionary business cycle phase.
Answer
  • Introduction
  • Growth
  • Maturity
  • Decline

Question 37

Question
“ What is the mission and vision of the company? ” is which level of strategy ?
Answer
  • Business Level
  • Functional Level
  • Network Level
  • Corporate Level

Question 38

Question
____________ type of corporate level strategy is defined as “reduce size or diversity of operations, reduce staff, sell company assets or businesses, restructure debt”.
Answer
  • Aggressive
  • Retrenchment
  • Maintenance
  • Renovation

Question 39

Question
Marketing, Finance, Human Resources, Operations, and R&D is concerned with coordinating ________________ Strategy.
Answer
  • Global level
  • Functional level
  • Corporate level
  • Network Level

Question 40

Question
Relationships of a company with its competitors in the same industry is ___________ type of Network strategy.
Answer
  • Upstream Vertical
  • Downstream Vertical
  • Indirect Horizontal
  • Direct Horizontal

Question 41

Question
______________ Global level market entry method is defined as “Partnering a project with an existing overseas business to gain entry into a foreign market”.
Answer
  • Exporting
  • Licensing or Franchising
  • Foreign Direct Investment
  • Joint Venture

Question 42

Question
______________ is referred as Supply an identical product or service at lower cost.
Answer
  • Cost Advantage
  • Price Advantage
  • Differentiation Advantage
  • Product Advantage

Question 43

Question
Offering unique features that fulfill the demands of a narrow market is ___________ type of Business level strategy.
Answer
  • Differentiation - Broad range of products/services
  • Differentiation - Low range of products/services
  • Focus Strategy - Low Cost
  • Focus Strategy – Differentiation

Question 44

Question
_____________ is called Cost savings attributed to decreased fixed costs per unit when production & sales increase, which is one of the Business Level Strategy and Cost Advantage.
Answer
  • Economies of Learning
  • Economies of Scale
  • Process Technology & Process Design
  • Cost cutting

Question 45

Question
From the following identify the final stage of Value chain Analysis.
Answer
  • Compare costs by activity
  • Identify cost drivers
  • Identify cost saving opportunities
  • Identify linkages

Question 46

Question
Competition is irrelevant because the rules of the game are waiting to be set – which of the following market concept defines the above statement.
Answer
  • Red ocean Strategy
  • Blue ocean Strategy
  • Green ocean Strategy
  • Black ocean Strategy

Question 47

Question
From the following _______________ factors determines the Intangible opportunities.
Answer
  • Desires for status, exclusivity, individuality, image and security
  • Size, shape, color, weight, design,
  • Material & technology
  • Reliability, taste, speed, durability and safety

Question 48

Question
___________ is driven by a company’s opportunities for creating uniqueness in its offerings to customers.
Answer
  • Demand differentiation
  • Supply differentiation
  • Value Creation
  • Cost advantage

Question 49

Question
A partitioned market according to characteristics of customers and their demand is called ____________________.
Answer
  • Differentiation
  • Competitive advantage
  • Segmentation
  • Comparative advantage

Question 50

Question
Which of the following is not a “Influencers of Corporate Level Strategy”?
Answer
  • Product Scope
  • Horizontal Scope
  • Vertical Scope
  • Geographical Scope
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