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| 1 | |
A division is a unit that: |
| | A) | Has its own set of managers. |
| | B) | Has its own functions or departments. |
| | C) | Competes in a distinct industry. |
| | D) | Is all of these. |
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| 2 | |
Corporate-level strategy typically utilizes what time frame for planning?
I. Short-term
II. Intermediate-term
III. Long-term |
| | A) | II and III |
| | B) | I and III |
| | C) | I only |
| | D) | I and II |
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| 3 | |
This strategy utilizes short-term or intermediate-term planning, but not usually long-term planning, to achieve its goals: |
| | A) | Divisional-level |
| | B) | Corporate-level |
| | C) | Functional-level |
| | D) | Business-level |
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| 4 | |
A good plan does not do which of these: |
| | A) | Builds commitment for the goals |
| | B) | Gives direction and purpose |
| | C) | Eliminates the different functions and divisions of an organization |
| | D) | Makes managers accountable for their goals |
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| 5 | |
All of the following are typical qualities of effective plans EXCEPT: |
| | A) | continuity. |
| | B) | certainty. |
| | C) | unity. |
| | D) | flexibility. |
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| 6 | |
Scenario planning is also known as _______planning. |
| | A) | Time |
| | B) | Contingency |
| | C) | Strategic |
| | D) | Diversification |
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| 7 | |
Which of the following largely determines the success of a crisis management effort? |
| | A) | the amount of time before a response |
| | B) | who the main spokesperson is |
| | C) | the amount of media exposure |
| | D) | the degree of transparency in the communication |
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| 8 | |
All of the following are basic steps in the planning process EXCEPT: |
| | A) | choosing strategies to try to accomplish mission and goals. |
| | B) | determining the organization's mission and goals |
| | C) | deciding how to organize resources to implement strategies. |
| | D) | All of these are steps in the planning process. |
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| 9 | |
Which is a false statement concerning a mission statement? |
| | A) | It is a very specific declaration of the organization's purpose |
| | B) | It identifies the organization's products |
| | C) | It identifies the organization's customers |
| | D) | It distinguishes the organization from its competitors |
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| 10 | |
In the determination of an organization's mission, the first step managers should take is ______________. |
| | A) | Identify customers |
| | B) | Establish major goals |
| | C) | Define the business |
| | D) | Forecast the future |
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| 11 | |
Setting goals is an important part of a manager's job. The best goals are ________. |
| | A) | Ambitious, ambiguous, and time limited |
| | B) | Ambiguous, realistic, and time limited |
| | C) | Realistic, time limited, and objective |
| | D) | Ambitious, realistic, time limited |
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| 12 | |
Which one of Michael Porter's forces deals with companies lowering their prices in order to attract their competitors' customers? |
| | A) | Potential for entry into an industry |
| | B) | Level of rivalry among organizations |
| | C) | Power of suppliers |
| | D) | Power of customers |
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| 13 | |
Which one of Michael Porter's forces deals with the idea that plastic can be used instead of steel in some applications? |
| | A) | Power of customers |
| | B) | Power of suppliers |
| | C) | Level of rivalry among organizations |
| | D) | Threat of substitute products |
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| 14 | |
Which one of Michael Porter's forces would be most affected by your customers' loyalty to your products? |
| | A) | The level of rivalry among organizations in an industry |
| | B) | The potential for entry into an industry |
| | C) | The power of suppliers |
| | D) | Substitute products |
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| 15 | |
When PepsiCo purchased Frito Lay Snackfood, this was an example of: |
| | A) | diversification. |
| | B) | concentration on a single business. |
| | C) | vertical integration. |
| | D) | international expansion. |
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| 16 | |
When Coca-Cola spends huge amounts on advertising in an attempt to create a positive image for its Classic Coke, this is an example of: |
| | A) | a stuck-in-the-middle strategy. |
| | B) | a low-cost strategy. |
| | C) | a focused low-cost strategy. |
| | D) | a differentiation strategy. |
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| 17 | |
When Matsushita decided to open company owned stores to sell its own products, this was an example of: |
| | A) | Backward vertical integration |
| | B) | Forward vertical integration |
| | C) | Related diversification |
| | D) | Unrelated diversification |
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| 18 | |
Which of the following is not included in strategy implementation? |
| | A) | Allocating appropriate resources |
| | B) | Allocating responsibility for implementation |
| | C) | Holding specific individuals responsible for goal attainment |
| | D) | Analyzing the current situation and setting major goals. |
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