40 MCQ in Strategic Management

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Question 1 of 40

2.5 Points

The two main support processes in an organization are:

A. production systems and marketing systems.
B. procurement systems and HR systems.
C. financial accounting systems and HR systems.
D. information systems and financial accounting systems.

Question 2 of 40

2.5 Points

________ strategies are the short-term goal-directed decisions and actions of the organization's various functional areas.

A. Competitive
B. Coordinating
C. Corporate
D. Functional

Question 3 of 40

2.5 Points

One of the two strategic decisions most associated with the organization's information system is:

A. optimum equity mix.
B. creating an approved vendor list.
C. selecting the correct marketing mix.
D. the choice of system technology.

Question 4 of 40

2.5 Points

Designing which of the following systems involves making sure we have the information we need, when the information is needed, and in the form needed?

A. Marketing
B. Human resources
C. Information
D. Financial-accounting

Question 5 of 40

2.5 Points

If Mr. Carol wanted to introduce high-performance work practices in his organization, which of the following practices would he adopt?

A. Centralized decision making

B. Fixed job assignments

C. Limited communication

D. Self-managed work teams

Question 6 of 40

Ms. James has decided to use a computerized order taking and fulfillment system in the new location for her retail shop. She is demonstrating her ability to give attention to which of the following strategies?

A. Marketing
B. Human resources
C. Information
D. Financial-accounting

Question 7 of 40

2.5 Points

Which of the following is NOT one of Miles and Snow's adaptive strategies?

A. Defender
B. Prospector
C. Cost leader
D. Analyzer

Question 8 of 40

2.5 Points

An organization's ________ strategies reflect its commitment to and treatment of its employees.

A. procurement
B. corporate
C. HR
D. competitive

Question 9 of 40

2.5 Points

________ refer(s) to the process of creating and providing goods and services.

A. Marketing
B. Production-operations
C. High-performance work practices
D. Information system

Question 10 of 40

2.5 Points

When an organization competes by providing unique products with features that customers value, perceive as different, and are willing to pay a premium price for, it is using a strategy of:

A. cost leadership.
B. focus.
C. differentiation.
D. niche.

Question 11 of 40

2.5 Points

Which are the two biggest factors in marketing?

A. Competitors and pricing
B. Product and competitors
C. Customers and competitors
D. Pricing and customers

Question 12 of 40

The marketing mix is commonly known as the

A. 4Ps
B. 5Ps
C. 7Ss
D. 4Ss

Question 13 of 40

2.5 Points

Which of the following is a possible production-operations management strategy?

A. Selective specialization
B. Inventory management systems
C. User positioning
D. Market logistics

Question 14 of 40

2.5 Points

In Porter's cost leadership strategy, the main goal of the cost leader is to have the lowest ________ in the industry.

A. profits
B. prices
C. costs
D. products

Question 15 of 40

2.5 Points

One factor that would lead to high-performance work practices is

A. using contingent pay.
B. forming problem-solving groups.
C. conducting attitude surveys.
D. All of the answer choices are correct.

Question 16 of 40

2.5 Points

The role of top-level decision makers in the strategic management process is to:

A. establish the overall operational goals.
B. develop the overall goal that the organization hopes to achieve.
C. establish functional strategies.
D. supervise line managers.

Question 17 of 40

2.5 Points

Product design strategies typically involve an organization's ________ functional area.

A. finance
B. R&D
C. accounting
D. HR

Question 18 of 40

2.5 Points

The ________ strategy is one in which an organization continually innovates by finding and exploiting new product and market opportunities.

A. prospector
B. defender
C. analyzer
D. reactor

Question 19 of 40

2.5 Points

The ________ point(s) to the strategic issues organizational decision makers need to address in their pursuit of sustainable competitive advantage and high levels of performance.

A. portfolio analysis
B. distinctive capabilities
C. strengths
D. SWOT analysis

Question 20 of 40

The ________ strategy is one in which an organization continually innovates by finding and exploiting new product and market opportunities.

A. prospector
B. defender
C. analyzer
D. reactor

Question 21 of 40

2.5 Points

The organization's ability to complete or reach goals is referred to as:

A. efficiency.
B. effectiveness.
C. productivity.
D. stability.

Question 22 of 40

2.5 Points

Examples of portfolio analyses include:

A. the BCG matrix.
B. the McKinsey-GE stoplight matrix.
C. the product-market evolution matrix.
D. All of the answer choices are correct.

Question 23 of 40

2.5 Points

The types of renewal strategies include:

A. retrenchment strategy.
B. turnaround strategy.
C. diversification strategy.
D. retrenchment and turnaround strategies.

Question 24 of 40

2.5 Points

The _______ strategy establishes the overall direction that the organization hopes to go.

A. business
B. functional
C. corporate
D. competitive

Question 25 of 40

2.5 Points

Related diversification is ________ unrelated diversification.

A. less effective than
B. more effective than
C. just as effective as
D. less profitable than

Question 26 of 40

2.5 Points

The ________ strategy is one in which the organization maintains its current size and current level of business operations.

A. stability
B. concentration
C. diversification
D. backward integration

Question 27 of 40

2.5 Points

One of the risks associated with a horizontal integration strategy is:

A. a potential violation of antitrust laws.
B. exponential growth.
C. increased market exposure.
D. increase in sales.

Question 28 of 40

2.5 Points

A business unit with low relative market share and low industry growth rate is referred to as a:

A. dog.
B. cash cow.
C. cat.
D. question mark.

Question 29 of 40

2.5 Points

Coca-Cola is a ________ organization and PepsiCo is an example of a ________ organization.

A. multiple-business; single-business
B. single-business; multiple-business
C. multiple-business; multiple-business
D. All of the answer choices are correct.

Question 30 of 40

2.5 Points

The main causes of corporate performance include all the following except:

A. inadequate financial controls.
B. uncontrollable costs or too high costs.
C. new competitors.
D. underexpansion or too slow growth.

Question 31 of 40

2.5 Points

All of the following are reflective of restructuring efforts except:

A. spin-off.
B. liquidation.
C. reengineering.
D. cost cutting.

Question 32 of 40

2.5 Points

________ are usually "friendly."

A. Mergers
B. Acquisitions
C. Takeovers
D. Buyouts

Question 33 of 40

2.5 Points

Which of the following is a type of strategic partnering?

A. Licensing
B. Exporting
C. Joint venture
D. Direct investment

Question 34 of 40

2.5 Points

A paper manufacturer purchasing a forest of trees is an example of:

A. forward vertical integration.
B. backward vertical integration.
C. product/market exploitation.
D. product development.

Question 35 of 40

2.5 Points

When an organization remains with its core industry, this is an example of a ________ strategy.

A. concentration
B. forward integration
C. backward integration
D. horizontal integration

Question 36 of 40

2.5 Points

Mr. Wilson, a successful importer of Italian furniture, is considering combining operations by exchanging stock with a competitor, Italian Delights, to create a new store, Supremo Italiano. Which of the following growth strategies is Mr. Wilson following here?

A. Merger
B. Acquisition
C. Hostile takeover
D. Internal development

Question 37 of 40

2.5 Points

One of the major disadvantages of the McKinsey matrix is that of:

A. simplicity.
B. uniqueness.
C. subjectivity.
D. All of the answer choices are correct.

Question 38 of 40

2.5 Points

Both the product-market evolution and McKinsey matrices have the disadvantage of:

A. simplicity.
B. complexity.
C. individuality.
D. subjectivity.

Question 39 of 40

2.5 Points

A company like PepsiCo, with a number of business units such as snack foods, beverages, and prepared foods, is referred to as a:

A. single-business organization.
B. multiple-business organization.
C. multiple-line organization.
D. multiple-function organization.

Question 40 of 40

2.5 Points

Developing different uses for a product is an example of a ________ concentration option.

A. product-market diversification.
B. market development
C. product-market exploitation
D. product development

END OF MCQ QUESTIONS