Multiple Choice Questions (MANA Midterm)

Question 1

Ambidextrous behaviors in individuals illustrate how a dual capacity for ___ and ___ can be woven into the fabric of an organization at the individual level.

Answer 1

Alignment and Adaptability

Question 2

The innovation paradox implies that consistency in products and services provokes a tensions with the need for new products. This results in a conflict between ___ and ___.

Answer 2

Stability and change

Question 3

According to Henry Mintzberg, the final realized strategy of a firm is ___.

Answer 3

A combination of deliberate and emergent strategies

Question 4

___ may be considered the advance work that must be done in order to effectively formulate and implement strategies.

Answer 4

Strategy Analysis

Question 5

New value creation is a major engine for economic growth and is the main focus of ___ strategy.

Answer 5

Entrepreneurial

Question 6

WellPoint Health Network states: WellPoint will redefine our industry through a new generation of consumer-friendly products that put individuals back in control of their future. This is an example of a ___.

Answer 6

Vision Statement

Question 7

Two of the key inputs to developing forecast discussed in the text are ___.

Answer 7

Environmental Scanning and Competitor Intelligence

Question 8

Which one of the following statements is an example of how to improve perceptual acuity?

Answer 8

Making efforts to gain knowledge/information from external sources

Question 9

Why must successful managers recognize opportunities and threats in their company external environment?

Answer 9

If they miscalculate the market, opportunities may be lost

Question 10

___ tracks the evolution of environmental trends, sequences of events, or streams of activities.

Answer 10

Environmental Monitoring

Question 11

Executives must be careful to avoid spending so much time and effort tracking the actions of ___ that they ignore ___.

Answer 11

Traditional Competitors; New Competitors

Question 12

It is important to question the reliability of forecasts because ___.

Answer 12

Forecasts can be wrong

Question 13

In the SWOT framework, ___ are the same for all firms in the same competitive environment.

Answer 13

Opportunities and Threats

Question 14

Research published in Personnel Psychology shows that older workers are slightly more willing to implement organizational changes than younger workers. This is an example of which segment of the general environment?

Answer 14

Sociocultural; Demographics

Question 15

In the general environment, many relationships exist among the various elements. General environmental trends can have positive and negative impacts on various industries. For example, the aging population might have a ___ impact on the health care industry and a ___ impact on the baby product industry. These are called ___ impacts.

Answer 15

Positive; Negative; Demographical

Question 16

Advertising is a ___ activity. Supply of replacement parts is a ___ activity.

Answer 16

Marketing/Sales; Services

Primary, Primary

Question 17

Mercedes-Benz aggressively pushed for product placement in Hollywood movies. this is an example of which value chain primary or support activity?

Answer 17

Primary Activity

Question 18

Human resource management consists of activities involved in the recruiting, hiring, training, development, and compensation of all types of personnel. It supports ___.

Answer 18

Primary and Support Activities

Question 19

According to value-chain analysis, which of the following would be considered part of the general administration in a firm?

Answer 19

Information Systems

Question 20

The resource-based view of the firm combines the following two perspectives: ___.

Answer 20

1. The internal analysis of phenomena within a company.

2. The external analysis of the industry, and its competitive environment.

Question 21

The three key types of resources that are central to the resource-based view of the firm are ___.

Answer 21

Tangible, Intangible Resources and Organizational Capabilities

Question 22

In the resource-based view of the firm, examples of tangible resources include ___.

Answer 22

Financial, Physical, Technological Recourses, Organizational Capabilities

Question 23

Harley-Davidson markets motorcycles, clothes, toys, and restaurants. It uses its strong ___, which is ___.

Answer 23

Brand Image, Intangible

Question 24

In the knowledge economy, if a large portion of company value is in intellectual and human assets, the difference between the market value and book value of the company should ___ a company with mostly physical and financial assets.

Answer 24

Be greater than

Question 25

Human capital includes ___.

Answer 25

Individual Creativity, Knowledge, Skills, Experiences

Question 26

Creativity and problem-solving ability are considered to be part of ___ capital.

Answer 26

Human Capital

Question 27

___ is the network of relationships that individuals have throughout the organization.

Answer 27

Social Capital

Question 28

Tacit knowledge ___.

Answer 28

The minds of the employees, Knowledge, and Experiences

Question 29

Developing human capital is essential to maintaining a competitive advantage in the current knowledge economy. Efforts and initiatives to develop human capital should be directed ___.

Answer 29

All levels of the organization

Question 30

The primary aim of strategic management at the business level is ___.

Answer 30

Competitive Advantage

Question 31

Research has consistently shown that firms that achieve both cost leadership and differentiation advantages tend to perform ___.

Answer 31

Better, efficient, higher

Question 32

Value-chain support activities that involve excellent applications engineering support (technology development) and facilities that promote a positive firm image (firm infrastructure) characterize which generic strategy?

Answer 32

Differentiation

Question 33

In the ___ stage of the industry life cycle, there are few segments, the emphasis on process design is low, and the major functional areas of concern are general management and finance.

Answer 33

Decline

Question 34

Which of the following is most often true of mature markets?

Answer 34

Competition Intensifies, Fierce Price Competition, Ideas that cannot be imitated are hard to achieve

Question 35

Most turnarounds require a firm to carefully analyze its relevant environments. The ___ analysis leads to identification of market segments or customer groups that may still find the product attractive.

Answer 35

External Analysis

Question 36

Most turnarounds require a firm to carefully analyze its relevant environments. ___ analysis results in actions aimed at reduced costs and higher efficiency.

Answer 36

Internal Analysis

Question 37

Which of the following are reason for the possible erosion of company competitive advantage?

Answer 37

rapid change in technology
globalization
actions by rivals from within and outside of the industry

Question 38

A differentiation strategy enables a business to address the five competitive forces by ___.

Answer 38

Lessening competitive rivalry by distinguishing itself

Improve competitive position

Question 39

High product differentiation is generally accompanied by ___.

Answer 39

Creation of barriers

decreased emphasis on competition based on price.

Question 40

Ford and VW signed a memorandum of understanding to work together to develop autonomous vehicles. Which of the following best explains the potential advantage for them?

Answer 40

Strategic Alliance

Question 41

Which of the following is not a reason for merger and acquisition failures?

Answer 41

the acquisition leads to value creation

Question 42

Corporate-level strategy focuses on ___.

Answer 42

the markets and businesses the firm will compete in.

Question 43

Proctor and Gamble is a large multinational organization that has many business sharing distribution resources. Diversification strategies take advantage of the ___ that exist in their organization.

Answer 43

Synergies

Question 44

A firm should consider vertical integration when ___.

Answer 44

The firm’s suppliers of raw materials are often unable to maintain quality standards
When company is not happy with what they have.