Question 1

If a firm is dependent on a specific stakeholder group, that group has less influence on the firm's strategic decision making.

Accepted Answer

A) True 
 B)False

Question 2

A large corporation has earned a reputation for being a challenging work environment for employees, placing demands on employees' time and pushing them to accomplish tasks, sometimes with little recognition. A recent audit found that the company was denying employees overtime pay despite the extra work. This is a reflection of the company's:

Accepted Answer

A)   core values of hard work to gain advancement.
B)   unethical corporate culture.
C)   lack of an organizational mission.
D)   search for its core competencies.

Question 3

SWOT stands for

Accepted Answer

A)   strategy, wealth, organization, and threats.
B)   success, weakness, opportunities, and taxes.
C)   strength, wealth, organization, and taxes.
D)   strengths, weaknesses, opportunities, and threats.

Question 4

Globalization has led to:

Accepted Answer

A)   lower operational efficiency as firms must transport raw materials and finished goods farther.
B)   increasing loyalty of customers for products made domestically.
C)   declining returns from investment in research and development.
D)   higher performance standards including quality and cost.

Question 5

Research shows that a greater percentage of a firm's profitability is explained by the I/O rather than the resource-based model.

Accepted Answer

A) True 
 B)False

Question 6

The CEO of Twin Spires, Inc., is committed to using the expertise and resources currently in the firm to serve the needs of the natural gardening community by providing rare and native plants to individuals and nurseries around the United States.  The perspective of the CEO of Twin Spires is consistent with the assumptions of the industrial organization (I/O) model.

Accepted Answer

A) True 
 B)False

Question 7

The economic interdependence among countries which is reflected in the flow of goods, services, financial capital, and knowledge across country borders is defined as:

Accepted Answer

A)   hypercompetition.
B)   boundaryless retailing.
C)   strategic intensity.
D)   globalization.

Question 8

A key purpose of a mission statement is to inform _________what a firm is, what it seeks to accomplish and who it seeks to serve.

Accepted Answer

A)   CEOs
B)   stakeholders
C)   regulators
D)   former employees

Question 9

All of the following are assumptions of the resource-based model EXCEPT:

Accepted Answer

A)   each firm is a unique collection of resources and capabilities.
B)   the industry's structural characteristics have little impact on a firm's performance over time.
C)   capabilities are highly mobile across firms.
D)   differences in resources and capabilities are the basis of competitive advantage.

Question 10

Returns can only be measured in accounting terms such as return on assets, return on equity, or return on sales.

Accepted Answer

A) True 
 B)False

Question 11

Six years ago, Colette Smith founded a successful catering company that specializes in providing a wide assortment of miniature cheesecakes for corporate and social events. Although Ms. Smith is no longer active in the actual production of the cheesecakes, she continues as president of the catering company. Ms. Smith could be considered a strategic leader of this firm.

Accepted Answer

A) True 
 B)False

Question 12

The strategic management process is;

Accepted Answer

A)   a set of activities that will assure a sustainable competitive advantage and above-average returns for the firm.
B)   a decision-making activity concerned with a firm's internal resources, capabilities, and competencies, independent of the conditions in its external environment.
C)   a process directed by top-management with input from other stakeholders that seeks to achieve above-average returns for investors through effective use of the organization's resources.
D)   the formulation and implementation of a full set of commitments, decisions, and actions required for the firm to achieve above-average returns and strategic competitiveness.

Question 13

All of the following are assumptions of the industrial organization (I/O)  model EXCEPT:

Accepted Answer

A)   organizational decision makers are rational and committed to acting in the firm's best interests.
B)   resources to implement strategies are firm-specific and attached to firms over the long-term.
C)   the external environment is assumed to impose pressures and constraints that determine the strategies that result in above-average returns.
D)   every firm in an industry controls similar strategically relevant resources.

Exam 1: Strategic Management and Strategic Competitiveness

All of the following are assumptions of the industrial organization (I/O) model EXCEPT:

Correct Answer
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If a firm is dependent on a specific stakeholder group, that group has less influence on the firm's strategic decision making.

Correct Answer
verified

Correct Answer
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All of the following are assumptions of the resource-based model EXCEPT:

Correct Answer
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The strategic management process is;

Correct Answer
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SWOT stands for

Correct Answer
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A key purpose of a mission statement is to inform _________what a firm is, what it seeks to accomplish and who it seeks to serve.

Correct Answer
verified

The economic interdependence among countries which is reflected in the flow of goods, services, financial capital, and knowledge across country borders is defined as:

Correct Answer
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Research shows that a greater percentage of a firm's profitability is explained by the I/O rather than the resource-based model.

Correct Answer
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Correct Answer
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Correct Answer
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Returns can only be measured in accounting terms such as return on assets, return on equity, or return on sales.

Correct Answer
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Globalization has led to:

Correct Answer
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Exam 1: Strategic Management and Strategic Competitiveness

All of the following are assumptions of the industrial organization (I/O) model EXCEPT:

Correct AnswerverifiedShow Answer

If a firm is dependent on a specific stakeholder group, that group has less influence on the firm's strategic decision making.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

All of the following are assumptions of the resource-based model EXCEPT:

Correct AnswerverifiedShow Answer

The strategic management process is;

Correct AnswerverifiedShow Answer

SWOT stands for

Correct AnswerverifiedShow Answer

A key purpose of a mission statement is to inform _________what a firm is, what it seeks to accomplish and who it seeks to serve.

Correct AnswerverifiedShow Answer

The economic interdependence among countries which is reflected in the flow of goods, services, financial capital, and knowledge across country borders is defined as:

Correct AnswerverifiedShow Answer

Research shows that a greater percentage of a firm's profitability is explained by the I/O rather than the resource-based model.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Returns can only be measured in accounting terms such as return on assets, return on equity, or return on sales.

Correct AnswerverifiedShow Answer

Globalization has led to:

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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