1) In the development of a SFAS matrix, the first step is to
A.enter the ratings of how the company’s management is responding to each of the strategic factors B.calculate the weighted scores C.list the most important EFAS and IFAS items D.indicate short-term for the durationE. enter the weights for all of the internal factors
2) 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)
A.IFAS Table B.EFAS Table C. SFAS Table D.TOWS Matrix E.Issues Priority Matrix
3) 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?
A.Corporate , B.Functional, C.Divisional, D.Organizational, E.Business
4) Continuous improvement is an operations concept developed in
A.the United States,B. Sweden,C.Japan,D.Germany,E.Canada
15) 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
A.staging, B.international strategy, C.competitive strategy, D.cross-border configuration
6) What question must managers ask concerning the relationship between economic logic and international strategy?
A.Which geographic areas will we enter?
B.How does our international strategy contribute to the economic logic of our business and corporate strategies?
C.How does being international make our products more attractive to our customers?
D.Which international market-entry strategies will we use?
7) 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?
A.Business strategy, B.Competitive strategy, C.Generic strategy, D.Enterprise strategy
8) The strategy that deals with product and process innovation and improvement is known as a ________ strategy. A.marketing, B.R&D, C.operations, D.financial, E.human resource management
9) 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 A.training, B.staffing, C.structuring, D.operating, E.financing
10) 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)
A.mission statement, B.action plan, C.MBO, D.TQM, E.succession plan
11) Executives with a particular mix of skills and experiences may be classified as an executive type and paired with A.a specific personal characteristic B.a specific corporate strategy C.a certain educational background D.a specific experience background
E.a specific industry
12) According to the text, what is the “key” to effective management of change in culture?
A.Planning, B.Operationalization, C.Evaluation, D.Staffing, E.Communication
13) The sum total of the activities and choices required for the execution of a strategic plan is known as in A.strategic formulation B.environmental scanning C.strategy implementation D.evaluation and controlE.strategic development
14) Who typically implements strategy in large, multi-industry corporations?
A.The board of directors B.Top management C.Middle management D.First level management E.Everyone in the organization
15) Which one of the following is NOT a part of the evaluation and control of performance?
A.Establish corporate strategies. B.Determine what to measure. C.Establish standards for performance. D.Measure actual performance. E.Take corrective actions.
16) The end result of activity is known as
A.measurement B.gratuity C.performance D.return on equity E.achievement
17) Which is the MOST commonly used measure of corporate performance (in terms of profit)? A.EPS, B.ROE, C.DPS, D.ROI,E.ROVA
18) Becau se 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?
A.Shareholder value B.Basic earning power C.Price/earnings ratio D.Profit margin on sales E.Return on assets
19) 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?
A.Sears, Roebuck, & Co. B.J.C. Penney C.Neiman Marcus D.Saks E.Macy’s
20) Suboptimization occurs when
A.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 B.there is a failure to produce at or near future capacity C.individuals are placed into positions not suited to ability D. managers tend to focus more of their attentions on those aspects which are measurable than on those which are not
E.managers concentrate too much on short-term performance objectives
21) An acronym for the assessment of the external and internal environments of the business corporation in the process of strategy formulation/strategic planning is