MGT 498 Final Exam (Latest) Assignment

MGT 498 Final Exam
Latest
1. 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

2. 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?
Corporate
Divisional
Functional
Organizational
3. Which is the MOST commonly used measure of corporate performance (in terms of
profit)?
ROE
ROI
EPS
DPS
4. When a company determines a competency's competitive advantage, Barney refers to
this issue as
value
rareness
imitability
organization
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5. 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.

6. 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
7. Continuous improvement is an operations concept developed in
the United States
Sweden
Japan
Germany
8. 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
Improved productivity
Higher levels of employee motivation
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
training
operating
structuring
staffing
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10. The relationship among the board of directors, top management, and shareholders is
referred to as
corporate governance
corporate synergy
corporate strategy
corporate management
11. 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?
Macy's
Neiman Marcus
Saks
Sears, Roebuck, & Co.
12. Research suggests that strategic management evolves through four sequential phases in
corporations. The first phase is
basic financial planning
internally-oriented planning
forecast-based planning
externally-oriented planning
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13. The sum total of the activities and choices required for the execution of a strategic plan is
known as in
environmental scanning
evaluation and control
strategic formulation
strategy implementation

14. 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)
MBO
succession plan
action plan
mission statement
15. 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.
16. 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)
TOWS Matrix
EFAS Table
SFAS Table
IFAS Table
17. Who typically implements strategy in large, multi-industry corporations?
First level management
Everyone in the organization
The board of directors
Middle management
18. 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

staging
competitive strategy
cross-border configuration
international strategy
19. 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
20. The concept that proposes private corporations have responsibilities to society that
extend beyond making a profit is known as
social responsibility
flexible responsibility
social flexibility
managerial responsibility
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21. According to the text, what is the "key" to effective management of change in culture?
Operationalization
Communication
Staffing
Evaluation
22. An acronym for the assessment of the external and internal environments of the business
corporation in the process of strategy formulation/strategic planning is
S.B.U.
R.O.I.

M.B.O.
S.W.O.T.
23. 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..."?
Archie Carroll
Adam Smith
William C. Norris
Milton Friedman
24. 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
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25. 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?
Functional strategy
Enterprise strategy
Business strategy
Competitive strategy

26. The end result of activity is known as
measurement
gratuity
performance
return on equity
27. 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?
28. The strategy that deals with product and process innovation and improvement is known
as a __________ strategy.
R&D
operations
financial
marketing
29. 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
Shareholder value

Price/earnings ratio
30. 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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