Strategic Management Test

Which of these is not a shortcoming of GE Business Screen portfolio analysis?
The numerical estimates of industry attractiveness and business strength/competitive position give the appearance of objectively, but they are in reality subjective judgements that may vary from one person to another.
It cannot effectively depict the positions of new products or business units in developing industries.
The use of highs and lows to form four categories is too simplistic.
It can get quite complicated and cumbersome.
Sometimes called “problem children” or “wildcats”, which of these are new products with a potential success, but need a lot of cash for development?
Question marks
Stars
Dogs
Cash cows
The two basic phases of a turnaround strategy are ________.
Pause and proceed with caution
Sell out and divestment
Contraction and consolidation
bankruptcy and liquidation
________ are typically contracts for the construction of operating facilities in exchange for a free.
Green-field development
Turnkey operation
Production sharing
Management contracts
When a company builds its own manufacturing plant and distribution centre in another country, it is called _________?
Joint venture
Acquisition
Licensing
Green-field development
The degree to which a firm operates in multiple geographic locations at the same point in an industry’s value chain is referred to as _________.
Taper integration
Backward integration
Horizontal integration
Forward integration
With which of these does a company not make any of its key supplies, but purchase most of its requirement from outside suppliers that are under its partial control?
Full integration
Quasi integration
Taper integration
Forward integration
Taking over a function previously provided by a supplier is part of which of these strategies?
Concentric strategy
Diversification strategy
Retrenchment strategy
Concentration strategy
Corporate strategy deals with all of these except _________.
Functional strategy
Parenting strategy
Directional strategy
Portfolio strategy
Which of these is a partnership of similar companies in similar industries who pool their resources to gain a benefit that is too expensive to develop alone?
Licensing agreement
Collusion
Mutual service consortia
Joint venture
________is the active cooperation of firms within an industry to reduce output and raise price in order to get around the normal economic law of supply and demand.
Collusion
Mutual service consortia
Joint venture
Strategic alliance
Which of these is a defensive market location tactic?
Raise structural barrier
First mover
Encirclement
Flanking maneuver
When a firm attacks a part of the market where the competitor is weak, it is called _______.
A bypass attack
A flanking maneuver
An encirclement
A frontal assault
Which of these is a timing tactic to implement competitive strategies?
Flanking maneuver
Guerilla warfare
Bypass attack
First mover
Which of these is not a dimension of Quality?
Price
Perceived quality
Aesthetics
Features
Which of these is aimed at the broad mass market and involves the creation of a product or service that is perceived throughout its industry as unique?
Focused differentiation
Cost leadership
Differentiation
Cost focus
Strategic management consists of all of these basic elements except________.
Evaluation and control
Strategy implementation
Environmental scanning
Strategic myopia
Which of these strategic factors are parts of an external environment of a company?
All of the above
Opportunities
Weaknesses
Strengths
Which of these is an economic variable in a company’s societal environment?
Demographics
Information flow infrastructure
Currency convertibility
Trade regulations
The key environmental trends that are judged to have both a medium to high probability of occurrence and a medium to high probability of impact on the corporation are called ________.
The triad factors
Probability myopic factors
Issues priority matrix
External strategic factors
According to Porter, forces driving industry competition include all of these except_______.
Threat of substitute products or services
Bargaining power of suppliers
Bargaining power of employees
Threat of new entrants
Which of these, according to the text, is a possible barrier to entry?
None of these
Economies of scale
Diversity of rivals
Number of competitors
When a price cut by one airline is immediately matched by all other airlines, it suggests which of these forces are in action?
Rivalry among existing firms
Bargaining power of suppliers
Threat of new entrants
Threat of substitute products or services
_______ are corporations that operate in at least two different product market areas, one stable and one variable.
Expert opinion
Statistical modeling
Analyzers
Defenders
Which of these techniques is the extension of present trends into the future?
Expert opinion
Statistical modeling
Extrapolation
Brainstorming
The corporation is fundamentally governed by_________ overseeing ___________ with the concurrence of __________.
Top management; the shareholders; the board of directors
The board of directors; top management; the shareholders
Top management; the board of directors; the employees
The shareholders; top management; the board of directors
Which of these is the most important responsibility of a board of directors?
Controlling top management
Reviewing and approving the use of resources
Caring for shareholder interest
Setting corporate strategy, overall direction, mission, or vision.
The role of the board of directors in strategic management is to carry out all of these tasks except_______.
Initiate and determine
Evaluate and influence
Manage the company
Monitor
Which of these, according to the board of directors continuum, represent the highest degree of involvement in strategic management?
Rubber stamp
Catalyst
Phantom
Active participation
The inclusion of a corporation’s workers on its board refers to___________.
Lead directors
Interlocking directorate
Outside directors
Codetermination
Which of these occurs when two firms share a director?
Direct codetermination
Indirect interlock
Indirect codetermination
Direct interlocking directorate
A description of what a company is capable of becoming is called a(n) _________.
Moral relativism
Executive leadership
Strategic vision
Agency theory
According to Archie Carroll, managers of business organizations have all of these responsibilities except________.
discretionary
Cultural
Legal
Economic
Which of these levels is characterized by considerations of society’s laws and norms?
The internal moral code level
The conventional level
The preconventional level
The principled level
Which of these approaches proposes that actions and plans should be judged by their consequences?
None of these
Justice approach
Individual rights approach
Utilitarian approach
VRIO framework of analysis includes all of these variables except_______.
Opportunity
Imitability
Rareness
Value
The rate at which a firm’s underlying resources and capabilities depreciate or become obsolete is referred to as________.
transferability
Transparency
Imitability
Durability
Which of these refers to the ability of competitors to gather the resources and capabilities necessary to support a competitive challenge?
Durability
Transferability
Replicability
Transparency
According to Porter, a manufacturing firm’s primary activities usually begin with ______.
Marketing and sales
Inbound logistics
Outbound logistics
Support activities
Which of these, according to Porter, is NOT a support activity in a manufacturing firm’s value chain?
Procurement
Human resource management
Marketing and sales
Firm infrastructure
In which of these structures do employees tend to be specialists in the business functions important to that industry such as manufacturing, marketing, and finance?
Functional structure
Divisional structure
Strategic business units
Simple structure
Which of these structures is sometimes called a holding company?
Product structure
Functional structure
Strategic business units
Conglomerate structure
The extent to which units throughout an organization share a common culture is called _____.
Cultural segmentation
Cultural intensity
Cultural life cycle
Cultural integration
Which of these is a sub variable of the marketing mix variable- product?
Discounts
Advertising
Warranties
Inventory
In a process called ________ , the once-isolated specialists now work side-by-side and compare notes constantly in an effort to design cost-effective products with features customers want
Quality of work life
Concurrent engineering
Autonomous work teams
Flexible manufacturing
SWOT is an acronym used to describe which of these?
Strategic workforce through organizational Training
Strengths, Weaknesses, Opportunities, and Threats
Strengthening Weaknesses Over Threats
Scenarios with Organizational Technologies
TOWS Matrix generates all of these strategies except _______.
SO Strategies
ST Strategies
OT Strategies
WO Strategies
Which of these is the ability of a company to design, produce and market a comparable product more efficiently than its competitors?
Focused differentiation strategy
Corporate strategy
Differentiation strategy
Lower cost strategy
Which of these is the first phase of strategic management?
Strategic management
Forecast-based planning
Basic financial planning
Externally oriented planning
An organization skilled at creating, acquiring and transferring knowledge, and at modifying its behavior to reflect new knowledge and insights is referred to as a (n)__________
Strategic organization
Entrepreneurial organization
Environmental organization
Learning organization
Description:

This test is for students of management and business studies and has questions designed to test you basic strategic business skills.

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Vikrama Dhiman
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