Strategic Management – Set 5 January 29, 2025 by aasi Home › Management › Strategic Management Strategic Management Strategic Management – Set 5 📝 Model Practice Set ⚡ Instant Answers & Explanation 🎯 Exam Oriented 0% Report a question What’s wrong with this question? You cannot submit an empty report. Please add some details. 1234567891011121314151617181920212223242526272829303132333435363738394041424344454647484950 Strategic Management – Set 5 Dear ! This is Strategic Management – Set 5 Quiz and it contains 50 questions. Keep Learning! 1 / 50 1) Which of the following statements best describes scenario planning? Exploring future possibilities by looking at potential outcomes from particular causes and seeking to explain why things might occur Considering three likely scenarios for future developments, and devising a strategy according to the likeliest outcome Helping managers come to terms with the threats and opportunities within the company by devising a possible scenario to eliminate the threats and capitalize on the opportunities Planning the best way to secure the scenario outcome that would benefit the company most 2 / 50 2) How is an organization most likely to secure and sustain a position of strength in its associated environment? By seeking to influence and manage their external environment By seeking to influence their competitors' environment By seeking to influence and manage their internal environment By seeking to restrict changes within their environment 3 / 50 3) What is the most appropriate method of categorizing stakeholders? Relative power only Relative level of interest only Relative power and interest Relative power, interest, and amount of stock held 4 / 50 4) A _______ strategy addresses organizational weaknesses, helps stabilize operations and revitalizes organizational resources and capabilities unrelated diversification horizontal integration vertical integration retrenchment 5 / 50 5) Which of these is a characteristic of soft human resource management? Managers are responsible for employees Teams provide increased productivity Managers are responsible for deploying employees Scientific management principles and systems should be used to deal with employees 6 / 50 6) Functional level strategy directly supports corporate strategy business strategy differentiation strategy focus strategy 7 / 50 7) An investment that gives the investor a controlling interest in a foreign company is known as which of the following? foreign portfolio investment foreign direct investment mixed venture pure venture 8 / 50 8) Exports and imports apply mostly to which of the following? services merchandise intellectual property licensing 9 / 50 9) Which one of the following is not one of the elements of strategic thinking described by Campbell and Alexander (1997)? Organizational culture Outlining of competencies Future-gazing Organizational behavior 10 / 50 10) International business transactions include all commercial transactions between two or more countries private, but not governmental, commercial transactions between two or more countries governmental, but not private, commercial transactions between two or more countries only commercial transactions between two or more countries that are entered for the purpose of making a profit 11 / 50 11) International business has grown rapidly in recent decades for all the following reasons EXCEPT rapid expansion of technology liberalization of governmental policies on cross-border movement of trade and resources development of institutions to support and facilitate international trade increased cost of labor in both the lesser-developed and developing countries 12 / 50 12) Organizations require good people with appropriate skills and abilities to work together effectively to be successful. Which of the following characteristics is not seen as critical for this? Competent Committed Cost-effective Capable 13 / 50 13) The vision and mission statement can often be found in the SEC report in annual reports on customer receipts on supplier invoices 14 / 50 14) Which one of the following is not an aspect of the MOST analysis Mission Strategies Tactics Organization 15 / 50 15) ______ and ______ are outcomes from a study of the external environment Threats and Weaknesses Strengths and Weaknesses Weights and Measures Opportunities and Threats 16 / 50 16) _______ are the organizations major value creating skills, capabilities and resources that determine the organizations competitive weapons Strengths Opportunities Core competencies Weaknesses 17 / 50 17) What would NOT be a reason for a company to engage in international business? To maximize competitive risk To acquire resources To expand sales To diversify sources of sales and supplies 18 / 50 18) Hard human resource management assumes which of the following? Employees are more productive when they are better informed Employees are more productive if they are committed to the organization Employees are resources to be used effectively in the search for competitive advantage Employees have to be trusted to make correct decisions 19 / 50 19) What is Kelloggs main challenge for the future: To create new products for a market that is both growing and declining according to geography whilst generating enough cash to advertise and launch new products To create new products for a market that is both growing and declining according to geography To create new products for a market that has the same tastes, whilst generating enough cash to advertise and launch new products To not become adversely affected by increased competition again and adapt to changing customer tastes 20 / 50 20) Which of the following is not an element of strategic thinking? Judge what strategic changes to make Realize what needs to change Understanding current strategic positions Manage organizational resources and competencies 21 / 50 21) To succeed, Ansoff (1987) demands that organizations become more aggressive in terms of competitive strategies and entrepreneurialism or change orientation more aggressive in terms of competitive strategies more aggressive in terms of competitive strategies and in their pursuit of opportunities more aggressive in terms of competitive strategies and innovation 22 / 50 22) What is the danger of excessive monopoly power? The organization will charge high prices The organization will not attempt to cut costs The organization will change strategy to seek to fully exploit its power The organization will stifle innovation 23 / 50 23) Strategic mission is a statement of a firms unique purpose and scope of operations is an internally-focused affirmation of the organization's societal and ethical goals does not limit the firm by specifying the industry in which the firm intends to compete is developed by a firm before the firm develops its strategic intent 24 / 50 24) Why should governments seek to regulate? To control competition and stop monopoly power To minimize resource wastage and monopoly power To control competition and minimize resource wastage To control competition, minimize resource wastage, and inhibit the exploitation of weak buyers and suppliers 25 / 50 25) The _______________ has its own business strategy, objectives and competitors and these are often differ from parent company Strategic Business Unit structure Matrix structure Divisional structure None of given option 26 / 50 26) A stability strategy is particularly appropriate when the firm is facing rapid growth opportunities the industry is in a state of rapid upheaval an organization is not meeting its goals an organizations performance is declining 27 / 50 27) International business has recently grown at such a rapid pace because of stricter government policies on cross-border movements development of institutions to support and facilitate trade decreasing global competition companies increased concerns with terrorism 28 / 50 28) Which of the following is not suggested by Markides (1999) as a factor for competitive and strategic success? Synergy Careful evaluation of strategic options Ensure consistency between desired strategic position and the chosen strategy Active opportunity searching 29 / 50 29) What is monopoly power? When an organization has absolute power in its chosen marketplace When an organization has power over its immediate rivals in its chosen marketplace When an organization has limited power in its chosen marketplace When an organization buys out another organization and assumes power of its share of the marketplace 30 / 50 30) Which of the following is one of the four key elements which must be adhered to if synergy is to be achieved? Efficiency Competitive strategies Customer satisfaction Effective leadership 31 / 50 31) Which one of the following does not influence organizational learning? Awareness of wider environmental developments Knowledge of competitor activity Reflecting on past actions Applying activity maps 32 / 50 32) What is synergy? When the organization is providing a product to the customer that perfectly suits their requirements When the parts of an organization are combined and managed in such a way that the drawbacks exceed those which would result if the parts were operating separately When the parts of an organization are combined and managed in such a way that the benefits exceed those which would result if the parts were operating separately When the parts of an organization are combined and managed in such a way to reduce costs 33 / 50 33) Middle level managers typically are responsible for ___________ strategies business organizational operational corporate 34 / 50 34) Which of the following best describes the mode of international business used by most companies? mixed ventures foreign direct investment joint ventures exporting and importing 35 / 50 35) Which one of the following is not a future pattern identified by Courtney et al. (1997) A limited and definable number of discrete alternatives which can be evaluated and judged by strategic managers A limited and definable number of alternatives which cannot be evaluated nor judged with any great certainty A limited but undefinable number of discrete alternatives which can be evaluated and judged A limited but undefinable number of discrete alternatives that cannot be evaluated nor judged at all 36 / 50 36) Managers should study international business because international business comprises a large and growing portion of the worlds total business global events and competition affect almost all companies a company operating internationally will engage in modes of business that differ from those it is accustomed to domestically all of these 37 / 50 37) Which of the following factors does not increase the bargaining power of a supplier? Substitutability Concentration of suppliers A buyer is important to the supplier High switching costs 38 / 50 38) Which of the following is not a recognized area of opportunity for developing synergy? Functional Processual Strategic Managerial 39 / 50 39) An organization is said to have _______ when it has several different businesses that are independent and that formulate their own strategies operational units strategic business units competitive advantages legal subunits 40 / 50 40) The strategic management process is a set of activities that is guaranteed to prevent organizational failure a process concerned with a firms resources, capabilities, and competencies, but not the conditions in its external environment a set of activities that to date have not been used successfully in the not-for-profit sector a dynamic process involving the full set of commitments, decisions, and actions related to the firm 41 / 50 41) In order to have controlling interest in a foreign company an investor must have at least 100 % interest in the foreign company an investor must have at least 50% interest in the foreign company an investor may hold a minority stake if the remaining ownership is widely dispersed an investor must make all decisions at headquarters about the foreign company 42 / 50 42) Which of the following is not an example of a managerial mindset? Analytic Reflective Competent Co-operative 43 / 50 43) An organization that is diversifying its product line is exhibiting what type of growth strategy? stability retrenchment growth maintenance 44 / 50 44) An example of a core competency of a firm is the corporate reputation communicating with customers in their own languages worldwide developing least squared exemptions within its accounting system evaluating tangible and intangible assets 45 / 50 45) Which of the following is a force in the Porter’s five forces model of industry attractiveness? opportunity for new entrants opportunity for substitutes bargaining power of suppliers sustainable competitive advantage for customers 46 / 50 46) Which one of the following are considered to be synergistic benefits for LVMH? Joint ventures Similarity of portfolio Commercial exploitation Name association 47 / 50 47) Which of the following would not be considered a barrier to entry? High innovation Concentration of distribution channels Steep experience curves Concentration of suppliers 48 / 50 48) _________ strategy determines what businesses an organization should be in Business Organizational Operational Corporate 49 / 50 49) The merging of analysis of internal and external factors influencing the organizations strategy is known as complete studies organizational behavior and theory definitional analysis SWOT analysis 50 / 50 50) Which of the following is not a purpose of strategic thinking? To realize what needs to change To establish the agenda for managing strategic change To clarify future direction To allocate scarce resources Your score isThe average score is 0%🎉 Challenge alert! 💡 Share this quiz with your friends and see who scores the highest! 🏆🤩🔥 LinkedIn Facebook Follow Us @ 0% Restart quiz Exit We’d love to hear your thoughts! 📝 Share your valuable review with us. 🙌 🌟 Thank you for your support! 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