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Strategic Management UE University of Wroclaw

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Es un simulacro de examen
Julio Díaz
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Zusammenfassung der Ressource

Frage 1

Frage
In the Five Forces Model, the ease with which companies can enter into competition with other companies within the industry is known as which type of force?
Antworten
  • the threat of substitute products
  • the power of suppliers
  • the power of customers
  • the level of rivalry
  • the potential for entry

Frage 2

Frage
In which step of SWOT analysis would “obsolete, narrow product line” be most likely to arise?
Antworten
  • T
  • O
  • W
  • both O and T
  • S

Frage 3

Frage
An organization that treats customers better than its rivals is wasting money.
Antworten
  • True
  • False

Frage 4

Frage
The development of a set of functional-level strategies to increase the performance of the operating system a company uses to transform inputs into finished goods and services is known as:
Antworten
  • value chain management
  • research and development
  • utilizing new technology
  • materials management
  • efficiency management

Frage 5

Frage
An organization attempts to gain a competitive advantage by aiming its efforts at driving down its production costs per unit below those of its competitors. This is known as which type of strategy?
Antworten
  • low-cost strategy
  • focused differentiation strategy
  • unrelated diversification strategy
  • related diversification strategy
  • concentration on a single business strategy

Frage 6

Frage
A general guide to action for the managers of an organization is known as:
Antworten
  • a rule
  • a policy
  • none of the above
  • a standing plan
  • an SOP

Frage 7

Frage
Another name for contingency planning is:
Antworten
  • divisional-level planning
  • scenario planning
  • synergy planning
  • business-level planning
  • ad hoc planning

Frage 8

Frage
Organizations that use a global strategy typically customize the product to meet the needs of customers in different countries.
Antworten
  • True
  • False

Frage 9

Frage
Another name for contingency planning is scenario planning.
Antworten
  • True
  • False

Frage 10

Frage
The more desired attributes an organization builds into its products, lower the price they can charge to attract customers.
Antworten
  • True
  • False

Frage 11

Frage
When an organization updates its five-year plan annually in order to take into account changing conditions within the organization and in the organization's external environment, this is known as which type of plan?
Antworten
  • SWOT
  • scenario
  • functional
  • inflexible
  • rolling

Frage 12

Frage
Another name for the departmental level of the organization is the __________ level of the organization.
Antworten
  • functional
  • divisional
  • corporate
  • business
  • first-line

Frage 13

Frage
The set of decisions that managers make to assist the organization in the attainment of its goals is called the strategy of the organization.
Antworten
  • True
  • False

Frage 14

Frage
PepsiCo purchased KFC so that it could replace Coke products with Pepsi products in KFC restaurants. This was an example of:
Antworten
  • a low cost strategy
  • vertical integration
  • a diversification strategy
  • horizontal integration
  • a global strategy

Frage 15

Frage
Fast inventory turnover was not a factor influencing competitive advantage in the retailing industry.
Antworten
  • True
  • False

Frage 16

Frage
Managers monitor and evaluate the organization's strategy to see if it is working using the controlling function.
Antworten
  • True
  • False

Frage 17

Frage
The service function controls the movement of physical materials through the value chain.
Antworten
  • True
  • False

Frage 18

Frage
When an organization enters a new type of industry that is not similar in any way to the current businesses of the organization, this is known as a(n) ____________ strategy.
Antworten
  • related diversification
  • international expansion
  • unrelated diversification
  • vertical integration
  • concentration on a single business

Frage 19

Frage
The marketing and sales functions of a company are responsible for the creation of a good or service.
Antworten
  • True
  • False

Frage 20

Frage
All of the following are major corporate-level strategies that managers can use to help their organization increase its sales and profits EXCEPT:
Antworten
  • focus
  • vertical integration
  • diversification
  • concentration on a single business
  • international expansion

Frage 21

Frage
A department of the organization (such as manufacturing, accounting, marketing) that contains employees who have the same skills and use the same organizational resources to perform their jobs is known as a(n) __________ of the organization.
Antworten
  • vertical integration
  • function
  • business
  • division
  • synergy

Frage 22

Frage
General Electric Company sets a goal that every product line of the company should be either first or second in its industry in market share. What type of goal does this represent?
Antworten
  • business-level
  • divisioanl level
  • multidomestic-level
  • functional-level
  • corporate-level

Frage 23

Frage
Anything new or better about the way an organization operates, or the goods or services it produces, is the result of innovation.
Antworten
  • True
  • False

Frage 24

Frage
A formal, written guide to action for managers in an organization is known as:
Antworten
  • a heuristic
  • a policy
  • synergy
  • a rule
  • none of the above

Frage 25

Frage
An organization creates a list of possible future forecasts of business situations and creates a plan to respond to each of these forecasts. This is known as:
Antworten
  • synergy planning
  • ad hoc planning
  • scenario planning
  • divisional-level planning
  • functional planning

Frage 26

Frage
When an organization designs a corporate-level strategy that includes expanding its operations into a new type of business for the organization, this is known as a(n) __________ strategy.
Antworten
  • concentration
  • international expansion
  • sybergistic
  • diversification
  • vertical integration

Frage 27

Frage
A broad statement of the organization's purpose, its products, and its customers is called a mission statement.
Antworten
  • True
  • False

Frage 28

Frage
High quality products have superior design, features, reliability, and after-sales support.
Antworten
  • True
  • False

Frage 29

Frage
A group of managers analyzes both the internal strengths and weaknesses of their organization as well as the opportunities and threats of the external environment. What type of analysis is this?
Antworten
  • related diversification
  • functional analysis
  • mission analysis
  • diversification
  • SWOT analysis

Frage 30

Frage
Unilever sells different products using a different marketing approach in Great Britain than it uses when marketing these products in the United States. This is an example of:
Antworten
  • a global strategy
  • unrelated diversification
  • a multidomestic strategy
  • vertical integration
  • a focused low-cost strategy

Frage 31

Frage
Managerial goals should be both challenging and realistic.
Antworten
  • True
  • False

Frage 32

Frage
Functional goals and strategies need not be consistent with divisional goals and strategies.
Antworten
  • True
  • False

Frage 33

Frage
The information systems function controls the electronic systems for managing inventory, tracking sales, pricing products, selling products, dealing with customer service inquires, and so on.
Antworten
  • True
  • False

Frage 34

Frage
An organization attempts to succeed by distinguishing its products from those of the competition. What type of strategy is this?
Antworten
  • unrelated diversification strategy
  • concentration on a single business strategy
  • low-cost strategy
  • related diversification strategy
  • focused differentiation strategy

Frage 35

Frage
SWOT is a part of:
Antworten
  • none of the above
  • all of the above
  • business-level strategy
  • functional-level strategy
  • corporate-level strategy

Frage 36

Frage
The first step in defining an organization's mission is to define its business.
Antworten
  • True
  • False

Frage 37

Frage
The fewer the inputs required to produce a given output, the lower is the efficiency and the higher the cost of outputs.
Antworten
  • True
  • False

Frage 38

Frage
__________ means producing goods and services with superior design, features, reliability, and after-sales support.
Antworten
  • efficiency
  • responsiveness
  • quality
  • flexibility
  • innovation

Frage 39

Frage
The ___________ function can create a perception of superior value by solving customer problems and supporting customers after they have purchased the product.
Antworten
  • production
  • information systems
  • materials management
  • service
  • marketing

Frage 40

Frage
Firestone Tire and Rubber Company purchases rubber plantations in Africa so that it will have a source of supply for its tire manufacturing plants in Akron, Ohio. This is an example of:
Antworten
  • forward vertical integration
  • a global strategy
  • a focused differentiation strategy
  • a multidomestic strategy
  • backward vertical integration

Frage 41

Frage
Two divisions of a company decide to use the same distribution channels for their products to reduce the overlap of their marketing efforts. This is an example of:
Antworten
  • a differentiation strategy
  • synergy
  • a low-cost strategy
  • diversification
  • a focused-differentiation strategy

Frage 42

Frage
Procter & Gamble uses a joint sales force to sell both its laundry detergent products and its bath soap products to the same supermarket chains. This is an example of:
Antworten
  • a differentiation strategy
  • a low-cost strategy
  • a focused-differentiation strategy
  • a diversification strategy
  • synergy

Frage 43

Frage
The company that customizes every product to the unique demands of individual customers is likely to see its cost structure:
Antworten
  • all of the above
  • become obsolete
  • become lowers as demand increases rapidly
  • rise as unit revenues rise

Frage 44

Frage
SWOT analysis is the last step in the strategy formulation process.
Antworten
  • True
  • False

Frage 45

Frage
Which of the following is NOT a reason to try to boost product quality?
Antworten
  • To charge a higher price
  • All of these are reasons
  • To provide a higher quality product, for the same price, as the competition
  • To become more responsive to customers
  • To increase efficiency

Frage 46

Frage
Organizational plans that cover a timespan of one to five years are typically referred to as _____________ plans.
Antworten
  • short-term plans
  • corporate-term plans
  • intermediate-term plans
  • long-term plans
  • division-term plans

Frage 47

Frage
Differentiation raises costs.
Antworten
  • True
  • False

Frage 48

Frage
A functional-level plan spells out the goals of the __________ that are intended to assist the organization to achieve its __________ goals.
Antworten
  • department;corporate
  • none of the above
  • division;corporate
  • business;divisional
  • division;business

Frage 49

Frage
A business plan that is updated every year depending on the changes in the organization and in the external environment that have taken place in the previous year is known as a rolling plan.
Antworten
  • True
  • False

Frage 50

Frage
IBM has a written set of guidelines for its managers in terms of behavior that IBM considers to be either ethical or unethical. This set of written guidelines is called:
Antworten
  • rules
  • a single-use plan
  • policy
  • a standard operating procedure
  • a mission statement

Frage 51

Frage
Which type of organizational strategy states the industries and markets in which the organization intends to compete?
Antworten
  • business-level strategy
  • divisional-level strategy
  • functional-level strategy
  • departmental-level strategy
  • corporate-level strategy

Frage 52

Frage
The cluster of decisions that managers make to assist the organization to achieve its goals is known as:
Antworten
  • SWOT analysis
  • strategy
  • related diversification
  • diversification
  • scenario planning

Frage 53

Frage
Which level of management of a large organization contains the organization's marketing department, R&D department, and human resources department?
Antworten
  • multidomestic
  • divisional
  • scenario
  • first-line
  • vertical

Frage 54

Frage
Procter & Gamble uses the same distribution system to deliver its oral care products and its hair care products to drugstore chains. This is an example of:
Antworten
  • a diversification strategy
  • a focused-differentiation strategy
  • synergy
  • an unrelated diversification strategy
  • a differentiation strategy

Frage 55

Frage
The corporate-level plan of an organization contains the decisions that are related to the organization's mission, goals, strategy, and structure.
Antworten
  • True
  • False

Frage 56

Frage
Planning is a goal-making but not a strategy-making process.
Antworten
  • True
  • False

Frage 57

Frage
Wal-Mart, the US retailing giant, has created the most efficient ________________ function in the retail industry by tightly controlling the flow of goods from its suppliers through its stores into the hands of customers.
Antworten
  • marketing
  • production
  • service
  • information systems
  • materials management

Frage 58

Frage
When Gallo (wine producer) purchased a company that makes wine bottles, it was involved in:
Antworten
  • forward vertical integration
  • horizontal integration
  • strategic alliance
  • backward vertical integration
  • upward integration

Frage 59

Frage
Most customers prefer products with few features to products with many features.
Antworten
  • True
  • False

Frage 60

Frage
If Organization A is able to provide, for the same price, a product of higher quality than Organization B's product, Organization A is serving its customers better, but it is not being more responsive.
Antworten
  • True
  • False

Frage 61

Frage
What type of strategy specifies the activities of managers at the departmental level of the organization?
Antworten
  • business-level strategy
  • top-level strategy
  • divisional-level strategy
  • corporate-level strategy
  • functional-level strategy

Frage 62

Frage
When Matsushita sells its TVs and VCRs using the same basic marketing approach in various countries, this is an example of:
Antworten
  • a focused low-cost strategy
  • a multidomestic strategy
  • a global strategy
  • vertical integration
  • a differentiation strategy

Frage 63

Frage
In the typical organization, top managers are primarily responsible for planning that takes place at the business level of the organization.
Antworten
  • True
  • False

Frage 64

Frage
An organization's strategy is an outcome of its planning processes.
Antworten
  • True
  • False

Frage 65

Frage
Which type of plan details the goals, strategy, and structure of a division within an organization?
Antworten
  • departmental-level plan
  • none of the above
  • corporate-level plan
  • business-level plan
  • functional-level plan

Frage 66

Frage
Southwest's low-cost operating system focuses only on improving the maintenance of aircraft.
Antworten
  • True
  • False

Frage 67

Frage
Managers at ABC, Inc. analyze the current situation of their organization and then develop plans to help their organization to accomplish its mission and achieve its goals. This is known as:
Antworten
  • strategy formulation
  • SWOT analysis
  • diversification
  • synergy planning
  • functional planning

Frage 68

Frage
When General Electric Company expanded its operations by acquiring NBC television, this was an example of which type of strategy?
Antworten
  • low-cost strategy
  • vertical integration
  • concentration on a single business strategy
  • diversification
  • international expansion

Frage 69

Frage
Organizational plans that cover a time-span of up to one year are referred to as __________ plans.
Antworten
  • division-term plans
  • long-term plans
  • corporate-term plans
  • intermediate-term plans
  • short-term plans

Frage 70

Frage
Through brand positioning and advertising, the __________ function can increase the value that customers perceive to be contained in a company's product.
Antworten
  • production
  • materials management
  • marketing
  • service
  • information systems

Frage 71

Frage
In managing the value chain to add value, functional managers need to find ways to attain superior quality, efficiency, innovation, and responsiveness to customers.
Antworten
  • True
  • False

Frage 72

Frage
The production function of a company can perform its activities in a way that is consistent with high product quality, which leads to _____________ and _____________.
Antworten
  • Disgruntled employees; better sales
  • Product differentiation; higher costs
  • Product differentiation; lower costs
  • Inconsistencies; higher costs
  • Happy employees; more mistakes

Frage 73

Frage
According to Michael Porter's theory, it is possible for managers to pursue both a low-cost strategy and a differentiation strategy at the same time.
Antworten
  • True
  • False

Frage 74

Frage
With a multidomestic strategy, managers decide to sell the same product with the same marketing approach in all of the countries in which the product is sold.
Antworten
  • True
  • False

Frage 75

Frage
When managers focus on being ___________ to their customers, and not just on producing or providing a product, they see new ways to reduce costs and increase quality.
Antworten
  • friendly
  • honest
  • ethical
  • efficient
  • responsive

Frage 76

Frage
Which plan of the organization contains top management's decisions about the organization's mission, goals, strategy, and structure?
Antworten
  • functional-level plan
  • departmental-level plan
  • business-level plan
  • corporate-level plan
  • divisional-level plan

Frage 77

Frage
When PepsiCo purchased Frito-Lay and expanded its operations into the snack-food business, this was an example of which type of strategy?
Antworten
  • vertical integration
  • diversification
  • low-cost strategy
  • international expansion
  • concentration on a single business

Frage 78

Frage
The last step in a SWOT analysis is to identify the organization's internal strengths and internal weaknesses.
Antworten
  • True
  • False

Frage 79

Frage
The term “value chain” refers to the idea that a company is a chain of functional activities that transforms inputs into an output of goods or services that customers value.
Antworten
  • True
  • False

Frage 80

Frage
Fast inventory turnover was not a factor influencing competitive advantage in the retailing industry.
Antworten
  • True
  • False

Frage 81

Frage
The management of the value-chain activities that bring new products or services to market is called ________________.
Antworten
  • product development
  • JIT
  • product innovation
  • CRM
  • TQM

Frage 82

Frage
Firestone Tire and Rubber Company set up a chain of Firestone retail stores to sell its tires to American consumers. This is an example of:
Antworten
  • forward vertical integration
  • a focused-differentiation strategy
  • a global strategy
  • a multidomestic strategy
  • backward vertical integration
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