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MGT 498 FINAL EXAMINATION

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Question;1);In a survey of 50 corporations, which of the following was rated as a benefit;of strategic management?;A.;Clearer sense of vision for the firm;B.;Higher levels of employee motivation;C.;Higher levels of job satisfaction;D.;Improved productivity;E.;Lower employee turnover;2);Research suggests that strategic management evolves through four sequential;phases in corporations. The first phase is;A.;externally-oriented planning;B.;basic financial planning;C.;internally-oriented planning;D.;forecast-based planning;E.;strategic management;3);Strategic management is that set of managerial decisions and actions that;determine the long-run performance of a corporation. Which one of the following;is NOT one of the basic elements of the strategic management process?;A.;Strategy formulation;B.;Strategy implementation;C.;Statistical process control;D.;Evaluation and control;E.;Environmental scanning;4);The relationship among the board of directors, top management, and shareholders;is referred to as;A.;corporate synergy;B.;corporate management;C.;corporate governance;D.;corporate strategy;E.;corporate responsibility;5);The concept that proposes private corporations have responsibilities to society;that extend beyond making a profit is known as;A.;flexible responsibility;B.;social responsibility;C.;social flexibility;D.;managerial responsibility;E.;profit maximization;6);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???;A.;Adam Smith;B.;Edward Freeman;C.;Archie Carroll;D.;William C. Norris;E.;Milton Friedman;7);Which of the following is NOT descriptive of external environmental scanning?;A.;Used as a tool to ensure a corporation?s long-term health;B.;Used to monitor, evaluate, and disseminate information from the external;environment to key people within the corporation;C.;Used to identify opportunities and threats;D.;It is a tool that corporations use to avoid strategic surprise;E.;Used to identify strengths and weaknesses;8) According;to Porter, the corporation is most concerned with;A.;the intensity of competition within its industry;B.;the aggregate level of demand for a product line;C.;a market?s position on its life cycle;D.;the amount of pressure from the societal environment;E.;the level of government action in an industry;9);When a company determines a competency?s competitive advantage, Barney refers;to this issue as;A.;value;B.;rareness;C.;imitability;D.;organization;E.;durability;10);An acronym for the assessment of the external and internal environments of the;business corporation in the process of strategy formulation/strategic planning;is;A.;P.E.T.;B.;M.B.O.;S.W.O.T.;D.;S.B.U.;E.;R.O.I.;11);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 duration;E.;enter the weights for all of the internal factors;12);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;13);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;Functional;Divisional;D.;Organizational;E.;Business;14);Continuous improvement is an operations concept developed in;A.;the United States;B.;Sweden;C.;Japan;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;16);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?;17);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;E.;Functional strategy;18);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;19);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;20);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;21);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;22);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;23);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 control;E.;strategic development;24);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;25);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.;26);The end result of activity is known as;A.;measurement;B.;gratuity;C.;performance;D.;return on equity;E.;achievement;27);Which is the MOST commonly used measure of corporate performance (in terms of;profit)?;A.;EPS;B.;ROE;C.;DPS;D.;ROI;E.;ROVA;28);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?;A.;Shareholder value;B.;Basic earning power;C.;Price/earnings ratio;D.;Profit margin on sales;E.;Return on assets;29);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;30);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 full capacity;C.;individuals are placed into positions not suited to their abilities;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

 

Paper#45613 | Written in 18-Jul-2015

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