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MGT 489 Final Exam MCQs

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Question;QUESTION 1;1.;A ____________ is an association of several companies sharing a;specific strategic purpose.;a.;cross-equity;alliance;b.;virtual alliance;c.;golden parachute;d.;consortia;e.;diversified;organization;5 points;QUESTION 2;1.;When considering first-mover advantage within an industry that;has powerful suppliers, which of the following is a critical resource for the;first-mover to possess?;a.;The;implementation of pay for performance;b.;Bargaining;power;c.;Valuable;customers;d.;An;easily imitated product;e.;An;easily imitated service;5 points;QUESTION 3;1.;The most complex configuation aims to simultaneously achieve;global ____________.;a.;cost;leadership and differentiation;b.;mergers;and acquisitions;c.;efficiency;and maximize local responsiveness;d.;dominance;while acting in an ethical fashion;e.;notoriety;while keeping proprietary information secret;5 points;QUESTION 4;1.;Effective corporate strategies focus on __________.;a.;considering;how entry into a new industry will increase overall firm competitiveness;b.;considering;how the corporation can add value to its existing lines of business;c.;considering;which business arenas the company should compete in;d.;considering;how diversification might help the corporation to compete;e.;All;of the Above;5 points;QUESTION 5;1.;In an alliance with Big Company, your company invested in a;$10,000,000 diaper making machine with the idea being that Big Company would;buy the supply of diapers you made over the next ten years. After you had;bought and installed the machine, the management of Big Company informed you;that they would only be paying you 10 cents a diaper as opposed to the 20 cents;you thought they had initially indicated. This is an example of;a.;adverse selction;b.;moral hazard;c.;a hold-up;d.;how easy it is to;understand alliance partners;e.;a criminal activity;5 points;QUESTION 6;1.;The essential elements of ___________ deal with accountability;for fraud, analysts' conflicts of interest, disclosure, auditor independence;accounting oversight and attorney's responsibilities.;a.;the;Taft-Hartley Act;b.;the;EEOC;c.;the Humpty-Dumpty;Act;d.;the;Sarbanes-Oxley Act;e.;Emageon;analysis;5 points;QUESTION 7;1.;strategies do not take existing rules of;competition for granted but attempt to create value by approaching competition;by violating some of these taken-for-granted rules.;a.;Illegal;b.;Unethical;c.;Revolutionary;d.;Static;e.;Global;5 points;QUESTION 8;1.;is/are required if top management wants to execute;rapid strategic change.;a.;Confusion;b.;Stress;c.;Incentives;d.;Frustration;e.;Conflict;5 points;QUESTION 9;1.;is an exaggerated self-confidence that may lead;managers to overestimate the value of an acquisition target.;a.;Agency theory;b.;Esteem;c.;Hubris;d.;Efficacy;e.;Ineptitude;5 points;QUESTION 10;1.;The "Milk Cliff" concerns _________.;a.;an attractive;vacation location on the shores of Lake Superior in the Upper;Peninsula;b.;a lack of;political leadership;c.;where cows go to;hang-out;d.;tension among the;major political parties;e.;where one throws his;or her money in the air, and hopes it hits the river of milk below;5 points;QUESTION 11;1.;The breadth and diversity of countries in which a firm operates;is referred to as __________.;a.;geographic;scope;b.;global;positioning;c.;diversification;d.;differentiation;e.;transnational;operations;5 points;QUESTION 12;1.;When entering a promising arena with a new business a company;can ________.;a.;use;a revolutionary strategy;b.;focus;on a niche;c.;leverage;existing resources;d.;use;various combinations of (a), (b), and (c);e.;any;one method, either (a), or (b), or (c);5 points;QUESTION 13;1.;If you were considering the impact that different languages;political stability, physical remoteness, and cost and quality of available;resources were going to have on your plans for geographical expansion, you;would most likely be using ____________ as an analysis tool.;a.;the;value net;b.;portfolio;planning;c.;profit;pools;d.;the;cage framework;e.;Bower's;Classification;5 points;QUESTION 14;1.;When thinking about strategic alliances the _________ is a;framework that allows the top management of firms to better understand which;points of coordination exist as opportunities for improving performance.;a.;value chain;b.;competitive grid;c.;diversity complex;d.;theory of quantum;mechanics;e.;winner's circle;5 points;QUESTION 15;1.;Which of the following allows top management to better control;its organization?;a.;Organizational;processes;b.;Organizational;structure;c.;Organizational;systems;d.;Incentive;programs for employees;e.;All;of the Above;5 points;QUESTION 16;1.;Your firm has created a contract with Political Contacts. LLC.;located in Mexico to provide you with needed political advice and connections;for your geographic expansion. Unfortunately, Political Contacts, LLC has;personnel that know very little and have no useful political connections in;Mexico. This is an example of ____________.;a.;adverse selection;b.;moral hazard;c.;a hold-up;d.;how easy it is to;understand alliance partners;e.;your management;having done a good job with its due diligence;5 points;QUESTION 17;1.;Which of the following are considered the three Cs of strategy;communication?;a.;Contacts;Contracts, Credibility;b.;Contacts;Collaboration, Cultural Understanding;c.;Collaboration;Credibility, Cultural Understanding;d.;Contacts;Credibility, Cultural Understanding;e.;Contacts;Clarity, Cultural Understanding;5 points;QUESTION 18;1.;Mathmatically, synergy can be expressed as ____________.;a.;14/2 = 7;b.;4+4=10;c.;2+2<4;d.;4/2=2;e.;2+2=3;5 points;QUESTION 19;1.;During the implementation of a strategic alliance, your partner;fails to provide you with its best engineers as promised, instead allowing you;to use its less experienced engineers. This is an example of _________.;a.;adverse selection;b.;moral hazard;c.;a hold-up;d.;how stability can;be counted on in alliances;e.;how easy it is to;understand alliance partners;5 points;QUESTION 20;1.;Which of the following is true?;a.;Strategy;formulation is the same as strategy implementation.;b.;Implementation;levers can be considered organizational control mechanisms.;c.;There;is no meaningful difference between general and specialized resources.;d.;Profit;pools fail to evaluate adjacent market opportunities.;e.;None;of the above are true.;5 points;QUESTION 21;1.;Red Bull entered the ________ market of energy drinks within the;larger soft drink market.;a.;shrinking;b.;alcoholic;c.;mature;d.;niche;e.;declining;5 points;QUESTION 22;1.;is the final stage of the turnaround process.;a.;Stabilization;b.;Implementing;an emergency action plan;c.;Analyzing;the situation;d.;Changing;management;e.;Returning;to normal;5 points;QUESTION 23;1.;Incentive packages that include _________ tend to promote;longer-term performance.;a.;piece-rate;compensation;b.;restricted;stock;c.;quarterly;bonuses;d.;stock;dividends;e.;pay;inequity;5 points;QUESTION 24;1.;It is important to __________ to get organizational;transformation started.;a.;form;a powerful guiding coalition;b.;plan;for and create short-term wins;c.;communicate;the vision;d.;establish;a sense of urgency;e.;create;a vision;5 points;QUESTION 25;1.;A ___________ is defined as the collection of ties between;people and the strength of those ties.;a.;Facebook;network;b.;formal;organizational structure;c.;social;network;d.;strategic;alliance;e.;matrix;structure;5 points;QUESTION 26;1.;Which of the following is not one of the four causes of dynamic;change in an industry?;a.;Competitive;interactions;b.;Global;issues;c.;Technological;disruptions;d.;Reliance;on accepted assumptions;e.;Industry;evolution;5 points;QUESTION 27;1.;Efficiency is ________.;a.;defined;as the time it takes to produce a product;b.;pursued;only by cost leaders;c.;defined;as the cost of inputs required to produce a given output;d.;defined;as the time and costs of inputs required to produce;e.;None;of These;5 points;QUESTION 28;1.;Wall Street usually reacts positively to firm downsizing moves;that often result in _________.;a.;long-term;performance declines;b.;more;employees showing-up for work;c.;a;lower average turnover;d.;an;immediately lower stock price;e.;increasing;the redundancy of organizational roles;5 points;QUESTION 29;1.;Which of the following conditions are necessary for a;first-mover to sustain competitive advantage?;a.;The;scale of a firm's first move makes imitation unlikely;b.;A;first-mover has difficulty establishing a positive reputation;c.;The;first-mover's product or service meets an important need but is flawed;d.;The;first mover lacks a key complement, such as distribution channel access;relative to better access by a competitor;e.;None;of the Above;5 points;QUESTION 30;1.;The ____________ is the idea that every public company is;theoretically for sale.;a.;free;market;b.;the;bid-ask default notion;c.;four-actions;framework;d.;market;for coporate control;e.;economies;of the long tail;5 points;QUESTION 31;1.;A good business definition will ____________.;a.;make;imitation easy for competitors;b.;remain;static over time;c.;reflect;creative exploration of opportunities in the competitive space;d.;be;based on imitating competitors;e.;None;of the Above;5 points;QUESTION 32;1.;When there are many opportunities to gain global efficiencies;and customer demands require a relatively high level of local responsiveness;it is best to develop and execute a/an ____________ vision.;a.;international;b.;transnational;c.;global;d.;multinational;e.;niche;5 points;QUESTION 33;1.;A __________ is a corporation that operates many businesses that;are largely unrelated.;a.;conglomerate;b.;niche;player;c.;differentiator;d.;multinational;firm;e.;None;of the Above;5 points;QUESTION 34;1.;The simpliest vehicle for international expansion is;a.;to;create alliances;b.;to;export;c.;to;consolidate structures across boundaries;d.;to;make foreign direct investments;e.;to;merge with multinational corporations;5 points;QUESTION 35;1.;are used to access more capital through the world's;stock markets.;a.;Net;present value calculations;b.;Bootstrapping;techniques;c.;IPOs;d.;Expatriates;e.;Value;nets;5 points;QUESTION 36;1.;The risk of a price war is greatest in which of the following;circumstances?;a.;A;high-growth industry;b.;An;industry characterized by falling demand, high exit barriers, and excessive;productive capacity;c.;An;industry characterized by a "commodity-type" product, strong;demand, and low exit barriers;d.;A;mature industry during an economic upturn;e.;An;industry characterized by tacit price agreements;5 points;QUESTION 37;1.;Which of the following is true regarding corporate governance?;a.;it;includes pay and promotion considerations;b.;it;affects the way strategy is executed;c.;it;is related to strategy formulation;d.;it;is related to strategy implementation;e.;All;of the Above;5 points;QUESTION 38;1.;options may occur when an entry investment creates;opportunities to pursue valuable follow-up projects.;a.;Learning;b.;Growth;c.;Flexibility;d.;Exit;e.;Waiting-to-invest;5 points;QUESTION 39;1.;All of the following except _________ are global trends.;a.;increasing;resource strains;b.;a;growing number of consumers in emerging economies;c.;decreasing;global labor and talent markets;d.;increasing;environmental strains;e.;shifting;of economic activity within countries and regions;5 points;QUESTION 40;1.;Corporate governance mechanism are ____________.;a.;pretty;much the same wherever you go;b.;are;somewhat dependent on the national context in question;c.;characterized;by an immediate abandoning of the old established technology;d.;more;adversarial between owners and managers in Japan;e.;indifferent;to the interests of corporate shareholders;5 points;QUESTION 41;1.;The _____________ occurs when a new product generates rapid;growth and huge sales increases.;a.;IPO;b.;maturation;phase;c.;takeoff;period;d.;product;life-cycle;e.;All;of the Above;5 points;QUESTION 42;1.;Because every country has a relatively unique business;environment, the more country environments a firm must deal with, the;cost(s) of coordinating operations across these diverse;environments.;a.;greater;the difficulty and;b.;greater;the chance of synergy and a lower;c.;lower;the;d.;easier;it will be to absorb;e.;None;of the Above;5 points;QUESTION 43;1.;Making decisions about which value chain activities to engage in;while pursuing international strategies involves considering the;element.;a.;differentiators;b.;economic;logic;c.;vehicles;d.;staging;and pacing;e.;arenas;5 points;QUESTION 44;1.;The balanced scorecard ____________.;a.;balances;costs against benefits;b.;measures strategy and vision against business and;operating-unit-level performance;c.;attempts;to weigh the benefits of combining cost leadership and differentiation;d.;focuses;on only financial objectives;e.;has;nothing to do with personal objectives;5 points;QUESTION 45;1.;Which of the following is false?;a.;Total;benefits of internationalization take the shape of a S-curve;b.;Total;costs of internationalization tend to increase with levels of;internationalization;c.;Net;gains from internationalization tend to increase as levels of;internationalization increase;d.;Net;gains from internationalization take on the shape of a S-curve;e.;Net;gains from internationalization are affected by the total costs of;internationalization;5 points;QUESTION 46;1.;suggests that because competitive actions will;generate reactions, a firm's managers should predict reactions to its actions;and use that information to determine what would be the best course of action;given competitors' likely reactions.;a.;Being;stuck-in-the-middle;b.;Institutional;theory;c.;The;theory of perfect competition;d.;Competitive;interaction theory;e.;The;resource-based theory of the firm;5 points;QUESTION 47;1.;In ________ public firms are controlled by state-owned or;state-controlled share-holders.;a.;Detroit;b.;Flint;c.;China;d.;the;U.S.A.;e.;both;(a) and (b);5 points;QUESTION 48;1.;When workers are treated as a commodity you can expect;pay and ________ commitment.;a.;low;/ high;b.;low;/ low;c.;high;/ low;d.;high;/ high;e.;All;of the Above;5 points;QUESTION 49;1.;The Krispy Kreme case provides an example of ___________.;a.;how important it is;to have a delicious doughnut;b.;the;importance of good corporate governance;c.;a company stock price that just keeps rising and rising;d.;how;the pocket book is more important than the stomach;e.;why;public servants are often found in doughnut shops;5 points;QUESTION 50;1.;Implementing the integration of a new acquisition is;a.;not so much an;event as it is a continual process;b.;easy once the firm;is acquired;c.;purely a cultural;issue;d.;purely a technical;issue;e.;a process in which;important decisions should be made slowly;5 points;QUESTION 51;1.;A company lacking only __________ will likely experience a very;stressful transformation.;a.;a;clear communication of vision;b.;an;appropriate structure;c.;a;well thought-out execution plan;d.;the;requisite skills;e.;the;motivating incentives;5 points;QUESTION 52;1.;Potential advantages of alliances include ___________.;knowledge;sharing;effective;management;joint investment;complimentary;resources;All of the Above;5 points;QUESTION 53;1.;In an industry with intense rivalry resulting in supply;consistently being higher than demand, you would expect the following type of;M&A;a.;Product/Market;extension;b.;Geographic roll-ups;c.;Industry;convergence;d.;M&A as Research;and Development;e.;Overcapacity;M&A;5 points;QUESTION 54;1.;call for managers to think of arenas as sites in;which to conduct experiments or launch probes into the possible future of the;firm and its strategy.;a.;Idiosyncratic;resources;b.;Technological;discontinuities;c.;Turbulent;and hypercompetitive markets;d.;Glabalization;strategies;e.;None;of the Above;5 points;QUESTION 55;1.;Which of the following is a sound management practice?;Aiming for _________ and rewarding for _________.;a.;teamwork;/ individual effort;b.;candor;/ agreeing with the boss;c.;delayering;/ creating efficiency;d.;long-term;growth / quarterly earnings;e.;total;quality / shipping on schedule even with defects;5 points;QUESTION 56;1.;Which of the following industries contains the majority of the;top six revenue generating corporations?;a.;Automotive;b.;Banking;c.;Insurance;d.;Oil;and Gas;e.;Telecommunications;5 points;QUESTION 57;1.;Which of the following is false?;a.;In;dynamic environments, synergies are achieved through static definitions of the;business-unit arenas and formal structural links among them.;b.;Monopolies;tend to dictate the price levels in a market by controlling supply.;c.;In;the evolution of firms over time, most leadership teams decide to expand into;new businesses.;d.;Firms;with a broad scope of business activities have different demands for;organizational structure than firms that are narrowly focused.;e.;Perfect;competition is the ideal environment for maximizing firm profits.;5 points;QUESTION 58;1.;Entrepreneurship starts with _____________.;a.;venture;capitalists;b.;angel;investors;c.;financing;d.;an;idea;e.;None;of the Above;5 points;QUESTION 59;1.;is best described as a web of shifting linkages among;evolving businesses.;a.;A;social network;b.;High-end;disruption;c.;Low-end;disruption;d.;An;agency problem;e.;Coevolution;5 points;QUESTION 60;1.;All of the following except ____________ are part of strategy;formulation.;a.;staging;and pricing;b.;deciding;on which industries to compete in;c.;executing;implementation levers;d.;considering;the economic logic of your business model;e.;determining;what will differentiate your product or service

 

Paper#45896 | Written in 18-Jul-2015

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