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Strategic Management UE University of Wroclaw

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Julio Díaz
Quiz by Julio Díaz, updated more than 1 year ago
Julio Díaz
Created by Julio Díaz about 7 years ago
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Resource summary

Question 1

Question
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?
Answer
  • the threat of substitute products
  • the power of suppliers
  • the power of customers
  • the level of rivalry
  • the potential for entry

Question 2

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

Question 3

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

Question 4

Question
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:
Answer
  • value chain management
  • research and development
  • utilizing new technology
  • materials management
  • efficiency management

Question 5

Question
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?
Answer
  • low-cost strategy
  • focused differentiation strategy
  • unrelated diversification strategy
  • related diversification strategy
  • concentration on a single business strategy

Question 6

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

Question 7

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

Question 8

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

Question 9

Question
Another name for contingency planning is scenario planning.
Answer
  • True
  • False

Question 10

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

Question 11

Question
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?
Answer
  • SWOT
  • scenario
  • functional
  • inflexible
  • rolling

Question 12

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

Question 13

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

Question 14

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

Question 15

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

Question 16

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

Question 17

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

Question 18

Question
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.
Answer
  • related diversification
  • international expansion
  • unrelated diversification
  • vertical integration
  • concentration on a single business

Question 19

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

Question 20

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

Question 21

Question
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.
Answer
  • vertical integration
  • function
  • business
  • division
  • synergy

Question 22

Question
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?
Answer
  • business-level
  • divisioanl level
  • multidomestic-level
  • functional-level
  • corporate-level

Question 23

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

Question 24

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

Question 25

Question
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:
Answer
  • synergy planning
  • ad hoc planning
  • scenario planning
  • divisional-level planning
  • functional planning

Question 26

Question
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.
Answer
  • concentration
  • international expansion
  • sybergistic
  • diversification
  • vertical integration

Question 27

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

Question 28

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

Question 29

Question
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?
Answer
  • related diversification
  • functional analysis
  • mission analysis
  • diversification
  • SWOT analysis

Question 30

Question
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:
Answer
  • a global strategy
  • unrelated diversification
  • a multidomestic strategy
  • vertical integration
  • a focused low-cost strategy

Question 31

Question
Managerial goals should be both challenging and realistic.
Answer
  • True
  • False

Question 32

Question
Functional goals and strategies need not be consistent with divisional goals and strategies.
Answer
  • True
  • False

Question 33

Question
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.
Answer
  • True
  • False

Question 34

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

Question 35

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

Question 36

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

Question 37

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

Question 38

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

Question 39

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

Question 40

Question
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:
Answer
  • forward vertical integration
  • a global strategy
  • a focused differentiation strategy
  • a multidomestic strategy
  • backward vertical integration

Question 41

Question
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:
Answer
  • a differentiation strategy
  • synergy
  • a low-cost strategy
  • diversification
  • a focused-differentiation strategy

Question 42

Question
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:
Answer
  • a differentiation strategy
  • a low-cost strategy
  • a focused-differentiation strategy
  • a diversification strategy
  • synergy

Question 43

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

Question 44

Question
SWOT analysis is the last step in the strategy formulation process.
Answer
  • True
  • False

Question 45

Question
Which of the following is NOT a reason to try to boost product quality?
Answer
  • 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

Question 46

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

Question 47

Question
Differentiation raises costs.
Answer
  • True
  • False

Question 48

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

Question 49

Question
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.
Answer
  • True
  • False

Question 50

Question
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:
Answer
  • rules
  • a single-use plan
  • policy
  • a standard operating procedure
  • a mission statement

Question 51

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

Question 52

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

Question 53

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

Question 54

Question
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:
Answer
  • a diversification strategy
  • a focused-differentiation strategy
  • synergy
  • an unrelated diversification strategy
  • a differentiation strategy

Question 55

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

Question 56

Question
Planning is a goal-making but not a strategy-making process.
Answer
  • True
  • False

Question 57

Question
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.
Answer
  • marketing
  • production
  • service
  • information systems
  • materials management

Question 58

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

Question 59

Question
Most customers prefer products with few features to products with many features.
Answer
  • True
  • False

Question 60

Question
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.
Answer
  • True
  • False

Question 61

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

Question 62

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

Question 63

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

Question 64

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

Question 65

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

Question 66

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

Question 67

Question
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:
Answer
  • strategy formulation
  • SWOT analysis
  • diversification
  • synergy planning
  • functional planning

Question 68

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

Question 69

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

Question 70

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

Question 71

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

Question 72

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

Question 73

Question
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.
Answer
  • True
  • False

Question 74

Question
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.
Answer
  • True
  • False

Question 75

Question
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.
Answer
  • friendly
  • honest
  • ethical
  • efficient
  • responsive

Question 76

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

Question 77

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

Question 78

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

Question 79

Question
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.
Answer
  • True
  • False

Question 80

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

Question 81

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

Question 82

Question
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:
Answer
  • forward vertical integration
  • a focused-differentiation strategy
  • a global strategy
  • a multidomestic strategy
  • backward vertical integration
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