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strategic management multiple choice

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Business/Economics Quiz on strategic management multiple choice, created by Shia Doula on 14/04/2019.
Shia Doula
Quiz by Shia Doula, updated more than 1 year ago
Shia Doula
Created by Shia Doula over 5 years ago
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Resource summary

Question 1

Question
A key characteristic of strategic decisions is that:
Answer
  • they are likely to be concerned with, or affect, the long-term direction of an organisation.
  • they identify specific areas of strategic interest for the management of an organisation.
  • they result in better organisational performance.
  • they are normally definite decisions about the future of the organisation.

Question 2

Question
Identification of what 'helps managers to focus on the environmental factors that are most important and which must be addressed most urgently'?
Answer
  • PESTEL
  • Key drivers for change
  • Scenarios
  • Five Forces

Question 3

Question
What is meant by the term 'SBU'?
Answer
  • Strategic board undertaking
  • Single business unit
  • Strategic business unit
  • Service bureau unit

Question 4

Question
The term ’corporate strategy' concerns strategy and strategic decisions:
Answer
  • At all levels in an organisation.
  • In certain types of organisations.
  • Developed by the senior management in an organisation.
  • In the private sector only.

Question 5

Question
Which type of lens encourages a detached approach to planning and analysis, valuing hard facts and objectivity?
Answer
  • Variety
  • Design
  • Experience
  • Discourse

Question 6

Question
Which of the following is NOT a way of overcoming bases of competitive advantage?
Answer
  • Increasing selling power
  • Imitation
  • Blocking first-mover advantage
  • Overcoming barriers to entry
  • Strategic repositioning

Question 7

Question
Which of the following is not one of the alternative directions shown on the Ansoff product/market growth matrix?
Answer
  • Diversification
  • Developing new products
  • Corporate parenting
  • Bringing existing products into new markets

Question 8

Question
It is possible to identify different levels of strategy in an organisation; these are:
Answer
  • Corporate and business unit.
  • Corporate; strategic business unit; and operational.
  • Strategic and tactical.
  • Corporate and functional

Question 9

Question
What term is used for the 'long-term direction of an organisation'?
Answer
  • Strategy
  • Goals
  • Vision
  • Mission

Question 10

Question
Which of the following statements accurately relates to the stakeholder model of governance?
Answer
  • Firms generally have a single-tier structure.
  • Shareholders have a legitimate primacy in relation to the wealth generated by organisations.
  • All board members are insiders (typically managers of the company).
  • Boards attempt to consider the wishes of all stakeholders.

Question 11

Question
What term is used for a situation where early events and decisions establish policy paths that have lasting effects on subsequent events and decisions?
Answer
  • Strategic drift
  • Path dependency
  • Cyclical strategy
  • Historicisation

Question 12

Question
What term is used for M&A integration in which it is implied that both the acquired firm and the acquiring firm learn the best qualities from the other?
Answer
  • Absorption
  • Holding
  • Symbiosis
  • Preservation

Question 13

Question
In the context of strategic alliances, what is meant by the term 'collaborative advantage'?
Answer
  • The benefit of creating a new entity that is owned separately by the partners involved
  • The result of managing alliances better than competitors
  • The benefits of being part of a network of alliances of which an organisation is a member
  • The aim of two or more organisations in sharing resources and activities to pursue a strategy

Question 14

Question
When using PESTEL it is easy to get overwhelmed by a multitude of details. Instead, it is important to step back and identify the:
Answer
  • relevant Five Forces that exist
  • market segments
  • complex links between each of the factors
  • key drivers for change

Question 15

Question
Which of the following is likely to be a cost of corporate parenting?
Answer
  • Coaching and facilitating
  • Envisioning
  • Intervening
  • Adding management costs

Question 16

Question
Strategic choices require an understanding of:
Answer
  • The organisational strengths and weaknesses.
  • The underlying bases for future strategy at business-unit and corporate levels; and the options for developing strategy in terms of directions and methods of development.
  • The business environment, the competition and the strategic capability of the organisation
  • The key drivers of change

Question 17

Question
A film company and a music recording company may choose to combine, believing that the result will be more effective than the sum of the two component parts. What term is used for the benefits?
Answer
  • Consolidation
  • Synergy
  • Integeration
  • Diversification

Question 18

Question
Best-in-class benchmarking seeks to assess organisational performance against:
Answer
  • The nearest geographical competitor
  • the competitor who is ’best inclass’ wherever that may be.
  • The nearest principal competitor.
  • The competitor who is the best in the industry

Question 19

Question
Which of the following definitions explains what is meant by the corporate parent?
Answer
  • The founder of the business
  • The levels of management above that of business units
  • The central head office of the organisation
  • The owner or major shareholder of the corporation

Question 20

Question
Core competences are the skills and abilities by which resources are deployed through anorganisation’s activities and processes such as to:
Answer
  • Survive using approaches and techniques that others cannot imitate or obtain.
  • Achieve competitive advantage in ways that others cannot imitate or obtain.
  • Survive.
  • Achieve competitive advantage.

Question 21

Question
Which of the following terms is used for'an organisation that is loosely coordinatedinternationally, but involves dispersion overseas of variousactivities, with goods and services produced locally in each national market’?
Answer
  • Multidomestic
  • Global
  • Exporter
  • Transnational

Question 22

Question
Who shapes and communicates strategy?
Answer
  • Senior managers
  • Managers at all levels and specialist strategists
  • Specialist strategists
  • Middle and senior managers

Question 23

Question
What is defined as 'a group of customers who have similar needs that are different from customer needs in other parts of the market'?
Answer
  • Strategic group
  • Customer grouping
  • Market segment
  • Marketisation

Question 24

Question
Which of the following are the correct axes for stakeholder mapping?
Answer
  • Control/interest
  • Influence/interest
  • Power/interest
  • Process/interest

Question 25

Question
Which of the following is not a method of strategy development?
Answer
  • Foreign direct investment
  • Strategic alliances
  • Mergers and acquisitions
  • Organic development

Question 26

Question
What term is used for two or more organisations sharing resources and activities to pursue a strategy?
Answer
  • Acquisition
  • Alliance
  • Merger
  • Organizational get-together

Question 27

Question
What term is used for something that 'creates substantial growth by offering a new performance trajectory that, even if initially inferior to the performance of existing technologies, has the potential to become markedly superior'?
Answer
  • Sustaining innovation
  • Disruptive innovation
  • Platform launch
  • Positioning option

Question 28

Question
Which of the following is least likely to be a contextual factor that might swing the balance between moving first to moving second?
Answer
  • Buyer switching costs
  • Capacity for profit capture
  • Fast-moving arenas
  • Complementary assets

Question 29

Question
The four major players in a particular industry have all recently spent large sums reducing the environmental impact of their factories. What is the probable result of this on the competitive attractiveness of the industry for the players within it?
Answer
  • The industry would be less attractive because costs of entry have increased.
  • The industry would be more attractive because the bargaining power of suppliers has been reduced.
  • The industry would be more attractive because costs of entry have increased.
  • The industry would be less attractive because the threat of substitutes will have increased.

Question 30

Question
The primary aim of Porter's Five Forces framework is to answer which of the following questions?
Answer
  • What do we know about the various forces?
  • What influence can be exerted?
  • Is the industry a good one to compete in or not?
  • How are competitors differently affected?

Question 31

Question
In recent decades, technologies in the aerospace industry have become more difficult to master and the products have become more complex. Which of the following best describes how a competitive force has changed as a result in this industry?
Answer
  • Supplier power has decreased.
  • The threat of entry has reduced.
  • Buyer power has increased.
  • Tangible, intellectual capital
  • Intangible, financial resources

Question 32

Question
What term is used for an organisation's abilities to renew and recreate its strategic capabilities to meet the needs of a changing environment?
Answer
  • Core competence
  • Competent substitution
  • Renewability
  • Dynamic capabilities

Question 33

Question
What name is given to the purchase of components and services from the most appropriate suppliers around the world regardless of location?
Answer
  • Multidomestic marketing
  • International compartmentalisation
  • The global–local dilemma
  • Global sourcing

Question 34

Question
A competitor finds it difficult to identify the basis for an organisation's competitive advantage. What term is used for this situation?
Answer
  • Causal ambiguity
  • Causal dependency
  • Interdependent causality
  • Ambiguous intercausality

Question 35

Question
The Royal Bank of Scotland's consortium competed with Barclays Bank to acquire the Dutch bank ABN AMRO: the Royal Bank of Scotland won, but the excessive price of '70bn (~$98bn) soon drove the victor into financial collapse and government ownership. What term is used for this situation?
Answer
  • Winner's curse
  • Excessibility
  • Hubris
  • Acquisition

Question 36

Question
Which of the following best describes a 'deliberate' strategy?
Answer
  • A strategic direction that emerges from a stream of decisions
  • A strategy that is the product of competitive pressure
  • An expression of desired strategic direction, intentionally formulated or planned by managers
  • An expression of desired strategic direction deliberately formulated or planned by managers that is realised in the fullness of time

Question 37

Question
Which of the following is not a category in the BCG matrix?
Answer
  • Star
  • Cash cow
  • Question mark
  • Ballast
  • Dog

Question 38

Question
The QWERTY typewriter layout is an example of which of the following?
Answer
  • Recency bias
  • Transformational change
  • Path dependency
  • Strategic drift

Question 39

Question
What name is given to the process of divulging information to outside bodies when a person believes that their organisation is failing in its corporate social responsibility
Answer
  • Showing enlightened self-interest
  • Social auditing
  • Whistle-blowing
  • Legitimising

Question 40

Question
What term is used for the process by which innovations spread among users?
Answer
  • Market pull
  • Disruptive innovation
  • Entrepreneurism
  • Diffusion

Question 41

Question
In the Exploring Strategy Model, what heading is used to cover environment, capability, goals and culture?
Answer
  • Strategic position
  • Strategy in action
  • Strategic applicability
  • Strategic choices

Question 42

Question
The experience lens suggests that strategies develop:
Answer
  • through the shared assumptions across similar types of organisations within an industry (or organisational field).
  • through the shared assumptions in the organisation, often thought of as the organisational culture.
  • through the individual experience of a few top managers or strategic planners.
  • All of the above

Question 43

Question
Identification of what 'helps managers to focus on the environmental factors that are most important and which must be addressed most urgently'?
Answer
  • Five Forces
  • Key drivers for change
  • Scenarios
  • PESTEL

Question 44

Question
What is defined as ’a group of customers who have similar needs that are different from customer needs in other parts of the market'?
Answer
  • Customer grouping
  • Market segment
  • Marketisation
  • Strategic group

Question 45

Question
Which of the following is NOT part of Rumelt’s tests of Business Strategy?
Answer
  • Feasible
  • Consonant
  • Consistent
  • Evaluation

Question 46

Question
Which of the following is NOT an outcome of Hrebiniak & Joyce (1985) environmental determinism framework?
Answer
  • Adaptation by design
  • Adaptation in situ
  • Adaptation within constraints
  • Adaptation by chance

Question 47

Question
Which one of the following is not part of Bourgeois & Brodwin (1983) strategic implementation perspective on Leadership?
Answer
  • Commander Approach
  • Change Approach
  • Demand Approach
  • Collaborative Approach

Question 48

Question
One of the following is NOT a condition for achieving Cost Leadership AND Differentiation
Answer
  • Innovation
  • Competitors stuck in the middle
  • Cost strongly affected by share / interrelationships
  • Strategy optimization Strategy optimization

Question 49

Question
Which of the following is NOT a cost driver?
Answer
  • Economies of scale
  • Value-added services
  • Economies of learning
  • Production techniques

Question 50

Question
Which of the following is NOT a differentiation driver?
Answer
  • Product features and performance
  • Value-added services
  • Intensity of marketing activity
  • Input cost

Question 51

Question
Which of the following is NOT An outcome of Dunphy & Stace (1993) contingency based model change management?
Answer
  • Evidential performance
  • Dictatorial transformation
  • Forced evolution
  • Participative evolution

Question 52

Question
Which of the following is NOT one of Bourgeois and Brodwin’s (1983) approaches to strategy implementation?
Answer
  • Developmental approach
  • Commander Approach
  • Cultural approach
  • Crescive approach

Question 53

Question
Managerial attempt to link emergent and deliberate is often referred to as:
Answer
  • Combinatorial approach
  • Logical incremantalism
  • Recombinant techchnology
  • Emergent-delibrate move

Question 54

Question
Which of the following is NOT a critique of the linear model of strategy?
Answer
  • Fallacy of prediction
  • Fallacy of detachment
  • Fallacy of formalization
  • Fallacy of value creation

Question 55

Question
Which of the following is an outcome of the rationality, frictions and inertia associated with the linear model of strategy?
Answer
  • Political support
  • Creativity failure
  • New product development
  • Strategic foresight

Question 56

Question
The linear model of strategy’s Emphasis on rationalization can lead to all the following except:
Answer
  • Unqualified acceptance and misapplication of techniques for strategic analysis
  • Professionalization of the planner’s job by making strategy a science
  • Excessive emphasis on quantification for strategic decisions
  • Logical incrementalism

Question 57

Question
Which of the following school of strategy is NOT a prescriptive perspective on strategy?
Answer
  • Configurational School
  • Design school
  • Planning school
  • Positioning school

Question 58

Question
Which of the following school of strategy is NOT classified as a descriptive perspective on strategy?
Answer
  • Cognitive school
  • Planning school
  • Learning school
  • Entrepreneurial School

Question 59

Question
Which of the following is NOT one of the 5Ps of strategy?
Answer
  • Strategy as plan
  • Strategy as pattern
  • Strategy as ploy
  • Strategy as panoptic

Question 60

Question
According to Barney (1991) resources are likely to provide a competitive advantage when they are Organized, valuable, inimitable and….
Answer
  • Rare
  • Reified
  • Expensive
  • Desirable

Question 61

Question
Machines, buildings, raw materials, databases, computer systems are examples of…
Answer
  • Human resources
  • Physical resources
  • Intellectual resources
  • Financial resources

Question 62

Question
Which of the following is NOT a key criteria by which capabilities can be assessed in terms of providing a basis for achieving sustainable competitive advantage?
Answer
  • Valuable
  • Rare
  • Inimitable
  • Transferable

Question 63

Question
Which of the following might lead to the inimitability of a strategic capability?
Answer
  • Causal ambiguity
  • strategic organizing
  • Economies of scale
  • Creative forecasting

Question 64

Question
Which of the following is NOT a characteristic of a core competence?
Answer
  • Provide distinctive consumer benefit
  • Can be leveraged and alters boundaries of firms
  • A critique of the strategy linear model
  • Hard for competitors to imitate

Question 65

Question
The section marked XXXXXXXXXX in the figure below represents: ( figure is shown cba to try and put it here)
Answer
  • Scenario planning
  • Dynamic capabilities
  • Resource based view
  • Organizational capabilities

Question 66

Question
Which of the following as argued by Leonard-Barton(1992) inhibit a firm’s ability to access and develop new capabilities?
Answer
  • Core rigidities
  • Core reductionism
  • Core competences
  • Core activities

Question 67

Question
The more highly developed an organizations capabilities,…..
Answer
  • The narrower the repertoire
  • The broader the repertoire
  • The more lasting the repertoire
  • The more active the repertoire

Question 68

Question
Which of the following is an approach to developing capabilities?
Answer
  • Strategic alignment
  • Product sequencing
  • Proactive marketing
  • Investing in patents

Question 69

Question
Which of the following is NOT a step in the framework for analysing resources and capabilities?
Answer
  • Appraise the firm's resources and capabilities
  • Identify the firm’s resources and capabilities
  • Explore the linkages between resources and capabilities
  • Optimize resources and capabilities

Question 70

Question
In 2016, it emerged that previous research into emissions from diesel engines was flawed and that they were much worse for the environment than other types of engines. For firms associated with the production of diesel engines, this revelation is best described as an ….
Answer
  • Weak signal
  • Inflection point
  • Megatrend
  • Wild card

Question 71

Question
Due to uncertainty relating to Brexit, the pound is currently quite weak against many other currencies. Which element of PESTEL would this most relate to?
Answer
  • Political
  • Economic
  • Social
  • Technological

Question 72

Question
The advent of comparison websites for products such as car insurance has had the biggest impact on which element of Porter’s Five Forces framework
Answer
  • Threat of new entrants
  • Substitutes
  • Rivalry
  • Power of buyers

Question 73

Question
In the “Strategic Capabilities” element of strategic positioning, a good example of causal ambiguity might be ….
Answer
  • Where a car manufacturer has quality problems and it is hard to identify the root cause of the issues
  • Where an insurer has low customer satisfaction and it is unclear what the reasons are behind it
  • Where a telecoms company knows it has issues related to the PESTLE model, but is unsure which element is to blame
  • Where a fashion retailer is successful but it is hard for others to understand how it gains its competitive advantage

Question 74

Question
Resources differ from competences in that ….
Answer
  • Resources are what we have, competences are what we do well
  • Resources are what we know, competences are what we would like to do well
  • Resources are what we have, competences are what we would like to do well
  • Resources are what we know, competences are what our competitors know

Question 75

Question
One of the primary activities in Porter’s Value Chain is outbound logistics, which involves ….
Answer
  • Anticipating, identifying, and satisfying customer requirements
  • Activities that enhance or maintain the value of a product or service
  • Warehousing and transport of products and services
  • Transforming inputs into final products and services

Question 76

Question
KFC’s special mix of eleven herbs and spices may be thought of as being most closely associated with which element of Barney’s VRIO model?
Answer
  • V
  • R
  • I
  • O

Question 77

Question
1Aldi is a German discount supermarket chains with over 10,000 stores in 20 countries, & an estimated combined turnover of more than €50 billion. Which of Bowman’s routes best describes Aldi’s business approach?
Answer
  • Low price
  • Hybrid
  • Differentiation
  • No frills

Question 78

Question
Which Generic Strategy best describes Sainsbury’s business approach?
Answer
  • Cost leadership
  • Differentiation
  • Cost focus
  • Differentiation focus

Question 79

Question
Using the case study, “The IKEA Approach”, which of the following best describes Ikea’s Generic Strategy ….
Answer
  • Cost leadership & focus differentiation
  • Differentiation & cost focus
  • Cost leadership & differentiation
  • Differentiation focus & cost focus

Question 80

Question
Which of the following is NOT likely to be a benefit of corporate parenting?
Answer
  • Coaching and Facilitating
  • Envisioning
  • Bureaucratic complexity
  • Providing central services

Question 81

Question
Using the “Virgin – is the brand more than Richard Branson?” case study, which type of corporate parenting role best describes the Virgin Group?
Answer
  • Portfolio manager
  • Synergy manager
  • Parental developer
  • Appeaser

Question 82

Question
The concept of a “born global” firm is where ….
Answer
  • A small firm internationalises rapidly at an early stage of its development
  • A firm moves quickly through the various internationalisation modes by rolling out its unique capabilities worldwide
  • A firm uses a sequential process to gradually increase its commitment to its newly entered overseas markets
  • A firm relies on its trading partners worldwide rather than its own presence in overseas markets

Question 83

Question
Which of the four international strategies is most likely to be difficult to implement in practice?
Answer
  • An international strategy
  • A global strategy
  • A transnational strategy
  • A localisation strategy

Question 84

Question
The Japanese camera industry grew to be world-renowned due to the high expectations of consumers in the home market. Which element of Porter’s Diamond would this relate to?
Answer
  • Firm strategy, structure and rivalry
  • Factor Conditions
  • Demand conditions
  • Related and supporting industries

Question 85

Question
What is the global/local dilemma?
Answer
  • The extent to which local employees should be recruited or seconded from corporate HQ
  • The extent to which products/services may be standardised across national boundaries or need to be adapted to suit local needs
  • The extent to which marketing campaigns are budgeted for in the local or corporate parent’s currency
  • The extent to which foreign exchange gains or losses arise from international transactions

Question 86

Question
Apple Inc. is an American technology company that designs & sells consumer electronics, software, & online services, employing 123,000 staff & earning $229 billion in worldwide revenue in 2017. The approach taken by Apple to product development focuses primarily on ….
Answer
  • Achieving first-mover advantage
  • Achieving cost leadership
  • Achieving maximum sales
  • Achieving success through being a “follower”

Question 87

Question
Garmin & TomTom are well-known brands of stand-alone satellite navigation units for cars. However, the rapid development of equivalent smartphone apps has had a huge impact on their sales. The term given for this type of innovation is ….
Answer
  • Displacement innovation
  • Dysfunctional innovation
  • Disjointed innovation
  • Disruptive innovation

Question 88

Question
Trial and error in strategy development is most associated with which of the following approaches ….
Answer
  • Political processes
  • Logical incrementalism
  • Strategy as continuity
  • Organisational systems

Question 89

Question
The common approaches to capability-building exclude
Answer
  • Internal development
  • Acquiring capabilities through mergers and acquisitions
  • Accessing capabilities via collaborative partnerships
  • Buying from the capital market

Question 90

Question
Accessing capabilities from an external source is to access them via collaborative partnership with suppliers, competitors or other companies having the cutting edge expertise. Which of the following is NOT one of the basic ways to pursue this course of action?
Answer
  • Outsource the function requiring the capabilities to a key supplier or another provider
  • Collaborate with a firm that has complementary resources and capabilities in a joint venture or strategic alliance
  • Develop competitive intelligence system and engage in industrial espionage
  • Engage in a collaborative partnership for the purpose of learning how the partner does things, internalizing its methods and thereby acquiring its capabilities

Question 91

Question
An organization becomes a prime candidate for diversifying under one of the following circumstances
Answer
  • When it spots opportunities for expanding into industries whose technologies and products complements its present business
  • When it cannot leverage its collection of resources and capabilities by expanding into businesses where these resources and capabilities are valuable assets
  • When it does not have a powerful and well-known brand name that can be transferred to products of other business and use as a lever for driving up the sales and profits of such businesses
  • When diversifying into other businesses does not open up avenues for reducing costs via cross business sharing or transfer of valuable assets.

Question 92

Question
Which of the following is NOT one of Porter’s three tests for buying or selling off an SBU to improve shareholders value?
Answer
  • Attractiveness test
  • Better-off text
  • Cost-of entry
  • Portfolio entry test

Question 93

Question
Which of the following is NOT a benefit of the M-Form
Answer
  • Clearly removed executives responsible for the destiny of the organisation from the more routine operation
  • Benefits of specialisation
  • Improved organizational culture
  • Corporate management can measure the performance of business units Individualism and autonomy

Question 94

Question
All the following is a key indicator of industry attractiveness EXCEPT:
Answer
  • Social, Political, regulatory and environmental factors
  • Seasonal and cyclical factors
  • Industry profitability
  • Business strategy

Question 95

Question
Which of the following is NOT a strategic option for internationalization, diversification or innovation?
Answer
  • Strategic alliance
  • Mergers or acquisition
  • Resource based view
  • Organic development

Question 96

Question
Which of the following is NOT a true about a strategic alliance?
Answer
  • Only two businesses can form a strategic alliance
  • It is a formal and mutually agreed commercial collaboration between companies
  • The partners pool, exchange or integrate specific business resources
  • Businesses involved remain separate, making alliances distinct from mergers and acquisitions

Question 97

Question
Strategic alliances have become more popular in recent years because of
Answer
  • Increasing development costs and shorter product life-cycle
  • It is a formal and mutually agreed commercial collaboration between companies
  • companies racing to the bottom
  • Managerial hubris
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