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MGT-498 Final Exam In a survey of 50 corporations




Question;MGT-498;Final Exam;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.;C.;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;B.;Functional;C.;Divisional;D.;Organizational;E.;Business;14) Continuous;improvement is an operations concept developed in;A.;the;United States;B.;Sweden;C.;Japan;D.;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#46247 | Written in 18-Jul-2015

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