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MGT 498 Final Exam
MGT 498 Final Exam -
Perfect Solution (100% Correct Answers)
According to Porter, the corporation is most concerned with
the aggregate level of demand for a product line
the amount of pressure from the societal environment
the intensity of competition within its industry
a market's position on its life cycle
Which strategy specifies the firm's overall direction in terms of its general orientation toward growth, the industries or markets in which it competes, and the manner in which it coordinates activities and transfers resources among business units?
Which is the MOST commonly used measure of corporate performance (in terms of profit)?
When a company determines a competency's competitive advantage, Barney refers to this issue as
If performance data and activity reports indicate undesirable performance as a result of inappropriate use of the strategic management process, operational managers must
change the strategic management model.
know about it so that they can correct the employee activity.
allow sufficient time to pass to verify if it is the process or just the usage that is the problem.
immediately notify the board of directors.
In the development of a SFAS matrix, the first step is to
calculate the weighted scores
indicate short-term for the duration
enter the ratings of how the company's management is responding to each of the strategic factors
list the most important EFAS and IFAS items
Continuous improvement is an operations concept developed in
the United States
In a survey of 50 corporations, which of the following was rated as a benefit of strategic management?
Clearer sense of vision for the firm
Higher levels of job satisfaction
Higher levels of employee motivation
The hiring of new people with new skills, firing of people with inappropriate or substandard skills, and/or training existing employees to learn new skills are included the process of
The relationship among the board of directors, top management, and shareholders is referred to as
Which company experienced a tarnished reputation and scandal after experiencing behavior substitution when employees altered their behavior on the job to fit the reward system?
Sears, Roebuck, & Co.
Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is
basic financial planning
The sum total of the activities and choices required for the execution of a strategic plan is known as in
evaluation and control
The strategy implementation tool used to determine what actions are going to be taken, by whom, during what time frame, and with what expected results is called a(n)
One reason environmental uncertainty is a threat to strategic managers is because
it hampers their ability to develop long-range plans.
it forces the strategic manager to be reactive.
it is a costly and consuming process.
the strategic manager cannot control the environment.
The technique that illustrates how management can match the external opportunities and threats with its strengths and weaknesses to yield four sets of strategic alternatives is called a (an)
Who typically implements strategy in large, multi-industry corporations?
First level management
Everyone in the organization
The board of directors
The process by which a firm approaches its cross-border activities and those of competitors, and plans to approach them in the future, is called
Executives with a particular mix of skills and experiences may be classified as an executive type and paired with
a specific personal characteristic
a certain educational background
a specific experience background
a specific corporate strategy
The concept that proposes private corporations have responsibilities to society that extend beyond making a profit is known as
According to the text, what is the "key" to effective management of change in culture?
An acronym for the assessment of the external and internal environments of the business corporation in the process of strategy formulation/strategic planning is
Who said that the social responsibility of business is a "fundamentally subversive doctrine" and that the one social responsibility of business is "to use its resources and engage in activities designed to increase its profits so long as it stays with the rules of the game..."?
William C. Norris
Suboptimization occurs when
individuals are placed into positions not suited to their abilities
managers tend to focus more of their attentions on those aspects which are measurable than on those which are not
a division or functional unit views itself as a separate entity and refuses to cooperate with other divisions or units to the detriment of the organization as a whole
there is a failure to produce at or near full capacity
Which strategy is developed to pull together the various activities and competencies of each department so that corporate and business unit performance improves and resource productivity is maximized?
The end result of activity is known as
return on equity
What question must managers ask concerning the relationship between economic logic and international strategy?
Which international market-entry strategies will we use?
How does our international strategy contribute to the economic logic of our business and corporate strategies?
Which geographic areas will we enter?
How does being international make our products more attractive to our customers?
The strategy that deals with product and process innovation and improvement is known as a __________ strategy.
Because of the belief that accounting-based numbers such as ROI, ROE, and EPS are not reliable indicators of a corporation's economic value, which method of corporate performance is now preferred?
Basic earning power
Profit margin on sales
Strategic planning in a multidivisional corporation
should encourage a clear delineation between top management and lower-level managers.
should be accomplished quickly to decrease the likelihood of it becoming outdated.
should be instigated only from the main corporate office.
should be a formalized and sophisticated system.
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