Clair Hat
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Quiz on Strategic Management, created by Clair Hat on 08/31/2016.

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Strategic Management

Strategic Management

Question 1 of 50

1

The purpose of diversification is _______________________

Select one of the following:

  • 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.

Explanation

Question 2 of 50

1

Market Penetration means ________________________

Select one of the following:

  • market development/geographic expansion

  • aggressively targeting current markets with existing product specialties

  • dividing existing markets

  • modify existing products, or develop new but related products

Explanation

Question 3 of 50

1

From the following which is the example of Conglomerate diversification type?

Select one of the following:

  • 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.

Explanation

Question 4 of 50

1

Economies of scope exist whenever _________________________

Select one of the following:

  • 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

Explanation

Question 5 of 50

1

Concentric merger is defined as ________________________________

Select one of the following:

  • 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

Explanation

Question 6 of 50

1

Joint venture is defined as ____________________________

Select one of the following:

  • 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

Explanation

Question 7 of 50

1

From the following which is a drawback of Alliances?

Select one of the following:

  • Shared risk

  • Shared knowledge & expertise

  • Synergy & competitive advantage

  • Distribution of earnings

Explanation

Question 8 of 50

1

Which of the following corporate strategy involves downsizing the company?

Select one of the following:

  • Liquidation

  • Turnaround

  • Divestiture

  • Amalgamation

Explanation

Question 9 of 50

1

Find the Operations level strategy from the following:

Select one of the following:

  • 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.

Explanation

Question 10 of 50

1

If a company decides to pursue new customers, new products & new geographic locations – Which type of integration strategy is this?

Select one of the following:

  • Vertical Integration

  • Related Integration

  • Horizontal Integration

  • Unrelated Integration

Explanation

Question 11 of 50

1

According to Mintzberg’s Five P’s of Strategy, Ploy stands for _________________

Select one of the following:

  • 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

Explanation

Question 12 of 50

1

According to Strategic Planning Process, Which of the following is Phase 1?

Select one of the following:

  • 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?

Explanation

Question 13 of 50

1

Competitive advantage means _______________________________

Select one of the following:

  • 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

Explanation

Question 14 of 50

1

The term Mission referred as __________________________

Select one of the following:

  • 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.

Explanation

Question 15 of 50

1

Defender’s strategy in the Public sector ______________________

Select one of the following:

  • Find opportunities for change

  • Resist change

  • Changes only when forced

  • Scan the environment

Explanation

Question 16 of 50

1

Corporate Governance is referred as _____________________________

Select one of the following:

  • 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

Explanation

Question 17 of 50

1

Which of the following is an external factor of corporate governance mechanism?

Select one of the following:

  • Corporate Market Control

  • Audit Committees

  • Governing Board

  • Ownership Concentration

Explanation

Question 18 of 50

1

Find the service role of a Governing board

Select one of the following:

  • Allocate resources for implementation

  • Representing organizational interests

  • Corporate control

  • Formulate & disseminate corporate goals & policies

Explanation

Question 19 of 50

1

Recycling program is a Value creation of

Select one of the following:

  • Production

  • People

  • Profit

  • Planet

Explanation

Question 20 of 50

1

“Carbon Footprint” comes under which of the PESTLE element?

Select one of the following:

  • Political

  • Economic

  • Environmental

  • Social

Explanation

Question 21 of 50

1

“Sophistication of customers” belongs to which of the Porter’s Diamond element?

Select one of the following:

  • Factor Conditions

  • Related & Supported Industries

  • Demand Conditions

  • Strategy, Structure, & Rivalry

Explanation

Question 22 of 50

1

Which of the following is one of the vertical element of Porter’s Five forces model?

Select one of the following:

  • competition from substitutes

  • competition from entrants

  • competition from established rivals

  • the power of customers.

Explanation

Question 23 of 50

1

_________________ is a product’s performance characteristics and attributes for which customers are willing to pay.

Select one of the following:

  • Value

  • Price

  • Demand

  • Competitive Advantage

Explanation

Question 24 of 50

1

Market segments are _____________________

Select one of the following:

  • 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

Explanation

Question 25 of 50

1

Lifestyle and personality of customers is segmented under which of the following segmented factor?

Select one of the following:

  • Geographic factors

  • Psychological factors

  • Consumption patterns

  • Perceptual factors

Explanation

Question 26 of 50

1

One of the following is a support activity of Value chain. Find it.

Select one of the following:

  • Inbound logistics

  • Operations

  • Outbound logistics

  • Human Resource Management

Explanation

Question 27 of 50

1

Distinctive competency means ____________________

Select one of the following:

  • 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

Explanation

Question 28 of 50

1

Reputation is an ____________________ resources of an organisation.

Select one of the following:

  • Intangible

  • Tangible

  • Human

  • Technological

Explanation

Question 29 of 50

1

According to VRIO framework, R means _________________________

Select one of the following:

  • 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?

Explanation

Question 30 of 50

1

According to (Hamel) Leveraging Core Competencies, Restructuring is which of the following Leveraging Capability?

Select one of the following:

  • Being better

  • Being smaller

  • Being different

  • Being same

Explanation

Question 31 of 50

1

The _______________ has its own business strategy, objectives and competitors and these are often differ from parent company.

Select one of the following:

  • Strategic Business Unit structure

  • Matrix structure

  • Divisional structure

  • None of given options

Explanation

Question 32 of 50

1

__________________ 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.

Select one of the following:

  • Discovery

  • Invention

  • Innovation

  • Development

Explanation

Question 33 of 50

1

_____________ is defined as Leveraging the variance between actual reality and perceived or assumed reality, which is one among the sources of innovation.

Select one of the following:

  • New knowledge

  • The incongruity

  • Industry or market structure changes

  • Changes in perception, mood and meaning.

Explanation

Question 34 of 50

1

Establishing reliability of new processes is __________________ innovation.

Select one of the following:

  • Product

  • Process

  • People

  • Production

Explanation

Question 35 of 50

1

Superior access to information and Overreacting to new information is _____________ type of market setting.

Select one of the following:

  • Efficient

  • Production

  • Consumer

  • Trading

Explanation

Question 36 of 50

1

Low market penetration is ________________ evolutionary business cycle phase.

Select one of the following:

  • Introduction

  • Growth

  • Maturity

  • Decline

Explanation

Question 37 of 50

1

“ What is the mission and vision of the company? ” is which level of strategy ?

Select one of the following:

  • Business Level

  • Functional Level

  • Network Level

  • Corporate Level

Explanation

Question 38 of 50

1

____________ type of corporate level strategy is defined as “reduce size or diversity of operations, reduce staff, sell company assets or businesses, restructure debt”.

Select one of the following:

  • Aggressive

  • Retrenchment

  • Maintenance

  • Renovation

Explanation

Question 39 of 50

1

Marketing, Finance, Human Resources, Operations, and R&D is concerned with coordinating ________________ Strategy.

Select one of the following:

  • Global level

  • Functional level

  • Corporate level

  • Network Level

Explanation

Question 40 of 50

1

Relationships of a company with its competitors in the same industry is ___________ type of Network strategy.

Select one of the following:

  • Upstream Vertical

  • Downstream Vertical

  • Indirect Horizontal

  • Direct Horizontal

Explanation

Question 41 of 50

1

______________ Global level market entry method is defined as “Partnering a project with an existing overseas business to gain entry into a foreign market”.

Select one of the following:

  • Exporting

  • Licensing or Franchising

  • Foreign Direct Investment

  • Joint Venture

Explanation

Question 42 of 50

1

______________ is referred as Supply an identical product or service at lower cost.

Select one of the following:

  • Cost Advantage

  • Price Advantage

  • Differentiation Advantage

  • Product Advantage

Explanation

Question 43 of 50

1

Offering unique features that fulfill the demands of a narrow market is ___________ type of Business level strategy.

Select one of the following:

  • Differentiation - Broad range of products/services

  • Differentiation - Low range of products/services

  • Focus Strategy - Low Cost

  • Focus Strategy – Differentiation

Explanation

Question 44 of 50

1

_____________ 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.

Select one of the following:

  • Economies of Learning

  • Economies of Scale

  • Process Technology & Process Design

  • Cost cutting

Explanation

Question 45 of 50

1

From the following identify the final stage of Value chain Analysis.

Select one of the following:

  • Compare costs by activity

  • Identify cost drivers

  • Identify cost saving opportunities

  • Identify linkages

Explanation

Question 46 of 50

1

Competition is irrelevant because the rules of the game are waiting to be set – which of the following market concept defines the above statement.

Select one of the following:

  • Red ocean Strategy

  • Blue ocean Strategy

  • Green ocean Strategy

  • Black ocean Strategy

Explanation

Question 47 of 50

1

From the following _______________ factors determines the Intangible opportunities.

Select one of the following:

  • Desires for status, exclusivity, individuality, image and security

  • Size, shape, color, weight, design,

  • Material & technology

  • Reliability, taste, speed, durability and safety

Explanation

Question 48 of 50

1

___________ is driven by a company’s opportunities for creating uniqueness in its offerings to customers.

Select one of the following:

  • Demand differentiation

  • Supply differentiation

  • Value Creation

  • Cost advantage

Explanation

Question 49 of 50

1

A partitioned market according to characteristics of customers and their demand is called ____________________.

Select one of the following:

  • Differentiation

  • Competitive advantage

  • Segmentation

  • Comparative advantage

Explanation

Question 50 of 50

1

Which of the following is not a “Influencers of Corporate Level Strategy”?

Select one of the following:

  • Product Scope

  • Horizontal Scope

  • Vertical Scope

  • Geographical Scope

Explanation

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