0 Exact answers 0 Text answers 76 Multiple-choice answers
Straddling strategies as an approach to strategic management is not recommended for which of the followrng reason:
According to Porter straddling strategies is recommended for narrow scope firms
that have been successful in the past.
It is an attempt to gain competitive advantage based on over-all low-cost provider of a product or service
Research shows that stradeling strategies leads to confusion among managers about the direction of the company.
It is an indication that the firm's managers have not made necessary choices about the business and its strategy
Firms that do the product leadership strategy well include which of
the following factors:
Do not focus on innovation
Are in stagnant markets
Have superb operations and execution
Focus on development, innovation, design, and time to market
The purpose of diversification is:
To build a portfolio of businesses much like a portfolio of stock
To spread out risk and opportunities over a larger set of businesses
To capture more consumers
To satisfy the mission and vision
The
major diversification strategy through which products are produced that are technically similar to the company's current products but appeal to a new consumergroup is:
Horizotal diversification
Hierarchical diversification
Conglomerate diversification
Concentric diversification
Examples of business strategy include all the followrng EXCEPT:
Help keep existing customers
Know the business needs to compete in orderto be effective
Grow its business by moving into new markets and taking customers from competitors
Determine how to keep profit level demanded by the stock market
Strategy formulation answers the question:
How is strategy applied to me?
What should our strategy be?
How do we execute a chosen Strategy?
Where does strategy fit in?
Superiority in competitive advantage refers to all of the followrng factors EXCEPT:
Customer service
Product quality
Unique style
Low cost
While there are different schools of thought about how strategy comes about, researchers
generally agree the common chaiactenstic across successful organizations is:
Strategic focus
Strategy trade-off
Strategy discipline
Strategic process
The different aspects of strategy as distinguished by Mintlberg include which of the following?
Realized
Differentiate
Consequential
Permanent
Using Porter’s analysis, firms are likely to generate higher profits if the industry
includes which of the following?
Difficult to enter
Buyers are strong
Unlimited nvaliy
There are many substitutes
How groups function has important implications for organizational:
Hierarchy
POLC
function
Mission and vision
Productivity
Employees tend to be
satisfied, but the effects on decision quality or employee productivity are weaker when leaders use which of the following decision making style?
Democratic
Laissez-faire
Authoritarian
Leader structured
A team may be charged with coming up with a new marketing slogan. Which kind of task is that?
Idea generation
Directing
Production
Problem-solving
Directive leadership is thought to be most effective in which of the following situations?
Employees have low level of ability
Employees have role clarity
Managing professional employees with job-specific knowledge
Employees are performing boring, routine, and highly structured jobs
According to Goleman, in what way are effective leaders different from ineffective leaders?
They differ in years of management experience
They differ in their understanding of the mission of the company motivation
They differ in their understanding of
other people's emotions
They differ in their ability to control the emotions of others
The leadership style that sets goals for employees and encourages them to reach their goals is called:
Directive
Supportive
Achievement oriented
Participative
Where does strategy formulation fit within the POLC framework?
In terms of the P-O-L-C framework, strategy formulation is the P (planning) and strategy implementation is realized by O-L-C. Corporate strategy helps to answer questions about which businesses to compete in, while business strategy helps to answer questions about how to compete.
How are shareholders affected by a firm's strategies?
For instance, it is easy to see how shareholders are affected by firm strategies—their wealth either increases or decreases in correspondence with the firm's actions. Other parties have economic interests in the firm as well, such as parties the firm interacts with in the marketplace, including suppliers and customers.
Which of the following forms of diversification occurs when a firm operates multiple businesses within the same industry?
EXPLANATION: Related diversification occurs when a firm operates multiple businesses within the same industry.
Why do firms look to diversify?
Why might a firm look to diversify? a. Spread out risk and opportunities over a larger set of businesses.