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Chapter 9

Chapter 9

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Published by Nik Nur Munirah

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Published by: Nik Nur Munirah on Aug 02, 2010
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07/15/2015

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CHAPTER 7 – STRATEGIC MANAGEMENT
41. Alexis sought to develop Omega Cool Inc. as a world leader in being a sustainable and restorativecorporation in producing computers. This is an example of a(n) ______________________.a) objective b) goalc) missiond) purposee) vision
 Ans: e
42. The four steps of strategic management area) mission and vision; SWOT analysis; choosing a strategy; and evaluating the strategy. b) vision; industry analysis; strategy implementation; and evaluating the strategy.c) vision and mission; SWOT analysis; strategy formulation; and implementing the strategy.d) goal setting; strategy analysis; review of external and internal resources; choosing the strategy.e) two content segments from the Mainstream perspective and two process steps from theMultistream perspective.
 Ans: c
43. A positive reputation as one of the best companies to work for would be aa) vision. b) strength.c) weakness.d) opportunity.e) threat.
 Ans: b
44. ____________________ from the external environment make(s) it difficult for managers to achievetheir organizational goals.a) High employee turnover  b) Increased regulationsc) Growth in market demandd) A negative organizational culturee) Weak leadership
 Ans: b
45. In addition to for-profit businesses, strategic management can also be applied toa) organizations serving homeless families. b) universities and colleges.c) faith-based organizations such as the temples, churches, synagogues, and mosques.d) None of these.e) All of these.
 Ans: e
46. Under which of the following conditions is the power of suppliers low?a) Suppliers are able to control pricing and the terms of contracts. b) There are few suppliers and they are large firms.c) There are many suppliers and they are small firms.d) The industry is characterized by high capital requirements and low economies of scale.e) There are few customers and highly differentiated products.
 Ans: c
 
47. Substitutes for the coffee industry could bea) beer and wine. b) soup and stews.c) juice and milk.d) tea and hot chocolate.e) sports drinks and carbonated soft drinks.
 Ans: d 
48. When the barriers to entry are _____________, the threat of new entrants is ______________.a) low; low b) medium; highc) high; lowd) high; highe) strategic; an opportunity
 Ans: c
49. The _________________ is likely to be higher when differentiation among the company's competitors' products and/or services is low.a) threat of substitutes b) bargaining power of suppliersc) intensity of rivalryd) threat of new entrantse) price
 Ans: c
50. _______________ industries often have more standardized products and services than _______________ industries.a) Global; mature b) Mature; emergentc) Emergent; fragmentedd) Fragmented; globale) Global; emergent
 Ans: b
51. Resources that provide organizations with a competitive advantage includea) opportunities, strengths, and international resources. b) physical, infrastructural, and human resources.c) infrastructural resources, systems, and emergent technology.d) the power of suppliers, inputs, and physical resources.e) internal assets, growing customer demand, and a cash cow.
 Ans: b
52. Teamwork, organizational culture, informal relationships, and efficient response to change areexamples of ___________ resources that help organizations to gain competitive advantage.a) distinctive competency b) core competencyc) humand) physicale) infrastructural
 Ans: e
 
53. Luke creates many award-winning hair designs at competitive hair and fashion shows, and this enableshis salon to succeed with constant innovation. This is an example of a(an)a) opportunity. b) strength.c) distinctive competency.d) core competency.e) threat.
 Ans: c
54. A competitive strategy seeks to provide ______________, and a sustained competitive advantage is onethat ___________.a) value for customers; values customers. b) a profit; cannot be bought.c) value for customers; cannot be copied.d) accountability; is created by top management.e) a military perspective; is created by top management
 Ans: c
55. In order to sustain a competitive advantage, the internal resources should bea) valuable, rare, inimitable, and non-substitutable. b) determined by the parent firm.c) allocated by the CEO and his or her team.d) achieving economies of scale.e) core competencies.
 Ans: a
56. The term "core competency" refers toa) a strength that is central to an organization in achieving its goals. b) opportunities for competing in growth industries.c) strengths that are superior to those of an organization's competitors.d) strengths that play a key role in achieving organizational goals.e) the use of strengths to take advantage of opportunities.
 Ans: a
57. In order for an organization to achieve a sustainable competitive advantage, resources must meet four criteria; specifically, they must bea) valuable, inimitable, non-substitutable, and core. b) valuable, rare, inimitable, and non-substitutable.c) distinctive, inimitable, non-substitutable, and core.d) distinctive, valuable, rare, and core.e) core, secret, internal, and valuable.
 Ans: b
58. An inimitable resource is an organizational asset thata) must exist in any organization for that organization to compete in its industry. b) is a distinctive competency.c) is a distinctive strength used to achieve a competitive advantage.d) can be easily duplicated by organizations outside the firm.e) cannot be re-created, or can be created only at a very high cost, by competitors.
 Ans: e
59. From the Multistream perspective, rare resources area) not protected by patents. b) open-source goods in the marketplace.c) an opportunity to establish a monopoly.d) an incentive to act responsibly.

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