Question 12.5 / 2.5 pointsWhich of the following is NOT one of Miles and Snow’s adaptive strategies?Question options: Defender Prospector Cost leader Analyzer Question 22.5 / 2.5 points In Porter’s cost leadership strategy, the main goal of the cost leader is to have the lowest ________ in the industry.Question options: profits prices costs products Question 32.5 / 2.5 points ________ refer(s) to the process of creating and providing goods and services.Question options: Marketing Production-operations High-performance work practices Information system Question 42.5 / 2.5 points If Mr. Carol wanted to introduce high-performance work practices in his organization, which of the following practices would he adopt?Question options: Centralized decision making Fixed job assignments Limited communication Self-managed work teams Question 52.5 / 2.5 points When an organization competes by providing unique products with features that customers value, perceive as different, and are willing to pay a premium price for, it is using a strategy of:Question options: cost leadership. focus. differentiation. niche. Question 62.5 / 2.5 points Which of the following is a possible production-operations management strategy?Question options: Selective specialization Inventory management systems User positioning Market logistics Question 72.5 / 2.5 points The ________ point(s) to the strategic issues organizational decision makers need to address in their pursuit of sustainable competitive advantage and high levels of performance.Question options: portfolio analysis distinctive capabilities strengths SWOT analysis Question 82.5 / 2.5 points The ________ works hard to establish brand loyalty.Question options: differentiator cost leader defender reactor Question 92.5 / 2.5 points The marketing mix is commonly known as theQuestion options: 4Ps 5Ps 7Ss 4Ss Question 102.5 / 2.5 points The role of top-level decision makers in the strategic management process is to:Question options: establish the overall operational goals. develop the overall goal that the organization hopes to achieve. establish functional strategies. supervise line managers. Question 112.5 / 2.5 points ________ is when organizations battle or vie for some desired object or outcome.Question options: Competition Strategy Goal Objective Question 122.5 / 2.5 points Francesca has had a higher than desirable level of server turnover in her restaurant. She decided that she needs to pay better attention to which strategies?Question options: Marketing Human resources Information Financial-accounting Question 132.5 / 2.5 points The ________ strategy is one in which an organization continually innovates by finding and exploiting new product and market opportunities.Question options: prospector defender analyzer reactor Question 142.5 / 2.5 points Which of the following is included under the product functional strategies?Question options: Supervision Management Marketing Leadership Question 152.5 / 2.5 points When a company builds a profitable business by “stealing” ideas from other successful peers, it is following a(n) ________ strategy.Question options: prospector defender analyzer reactor Question 162.5 / 2.5 points Designing which of the following systems involves making sure we have the information we need, when the information is needed, and in the form needed?Question options: Marketing Human resources Information Financial-accounting Question 172.5 / 2.5 points One of the two strategic decisions most associated with the organization’s information system is:Question options: optimum equity mix. creating an approved vendor list. selecting the correct marketing mix. the choice of system technology. Question 182.5 / 2.5 points One factor that would lead to high-performance work practices isQuestion options: using contingent pay. forming problem-solving groups. conducting attitude surveys. All of the answer choices are correct. Question 192.5 / 2.5 points Product design strategies typically involve an organization’s ________ functional area.Question options: finance R&D accounting HR Question 202.5 / 2.5 points The ________ strategy is one in which an organization continually innovates by finding and exploiting new product and market opportunities.Question options: prospector defender analyzer reactor Online Exam 7 Question 212.5 / 2.5 pointsEfficiency is:Question options: the organization’s ability to complete or reach goals. a specific measure, typically used in the production-operations-manufacturing area, of how many inputs it took to produce outputs. the ability of the organization to minimize the use of resources in achieving organizational goals. the search for the best practices from other leading organizations. Question 222.5 / 2.5 points One of the risks associated with a horizontal integration strategy is:Question options: a potential violation of antitrust laws. exponential growth. increased market exposure. increase in sales. Question 232.5 / 2.5 points The types of renewal strategies include:Question options: retrenchment strategy. turnaround strategy. diversification strategy. retrenchment and turnaround strategies. Question 242.5 / 2.5 points The ________ strategy is one in which the organization maintains its current size and current level of business operations.Question options: stability concentration diversification backward integration Question 252.5 / 2.5 points Examples of portfolio analyses include:Question options: the BCG matrix. the McKinsey-GE stoplight matrix. the product-market evolution matrix. All of the answer choices are correct. Question 262.5 / 2.5 points Diversifying into a completely different industry from the organization’s current operations is referred to as:Question options: concentric diversification. vertical diversification. conglomerate diversification. horizontal diversification. Question 272.5 / 2.5 points One of the major disadvantages of the McKinsey matrix is that of:Question options: simplicity. uniqueness. subjectivity. All of the answer choices are correct. Question 282.5 / 2.5 points Related diversification is ________ unrelated diversification.Question options: less effective than more effective than just as effective as less profitable than Question 292.5 / 2.5 points A business unit with low relative market share and low industry growth rate is referred to as a:Question options: dog. cash cow. cat. question mark. Question 300 / 2.5 points All of the following are reflective of restructuring efforts except:Question options: spin-off. liquidation. reengineering. cost cutting. Question 312.5 / 2.5 points The _______ strategy establishes the overall direction that the organization hopes to go.Question options: business functional corporate competitive Question 322.5 / 2.5 points The main causes of corporate performance include all the following except:Question options: inadequate financial controls. uncontrollable costs or too high costs. new competitors. underexpansion or too slow growth. Question 332.5 / 2.5 points A concentration strategy:Question options: does not enable an organization to become very good at what it does. cannot cause the organization to become vulnerable to industry and other external environmental shifts. allows the firm to diversify into new industries. is a growth strategy in which the organization concentrates on its primary line of business and looks for ways to meet its growth objectives through expanding its activities or operations in its core business. Question 342.5 / 2.5 points ________ are usually “friendly.”Question options: Mergers Acquisitions Takeovers Buyouts Question 352.5 / 2.5 points Developing different uses for a product is an example of a ________ concentration option.Question options: product-market diversification. market development product-market exploitation product development Question 362.5 / 2.5 points Mr. Wilson is thinking about concentrating on his primary line of business, Italian furniture, and looking for ways to meet its growth goals by expanding its core business. Which of the below strategies is Mr. Wilson following here?Question options: International Vertical integration Diversification Concentration Question 372.5 / 2.5 points Both the product-market evolution and McKinsey matrices have the disadvantage of:Question options: simplicity. complexity. individuality. subjectivity. Question 382.5 / 2.5 points Mr. Wilson, a successful importer of Italian furniture, is considering combining operations by exchanging stock with a competitor, Italian Delights, to create a new store, Supremo Italiano. Which of the following growth strategies is Mr. Wilson following here?Question options: Merger Acquisition Hostile takeover Internal development Question 392.5 / 2.5 points Starting a business from the ground up is referred to as:Question options: product development. market development. strategic development. internal development. Question 402.5 / 2.5 points A long-term contract is usually an agreement between:Question options: two organizations in the same industry. an organization and its suppliers. two organizations in unrelated industries. a domestic and international organization.
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