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1. There are four conditions that must be met if a firm's resources are to be used to achieve a sustainable competitive
advantage. The resources must be valuable, rare, imperfectly imitable, and nonsubstitutable.
a. True
b. False
ANSWER: True
POINTS: 1
LEARNING OBJECTIVES: WILL.MGMT.15.6.01 - 6.1
TOPICS: AACSB Analytic
2. An analysis of an organization's external environment begins with an assessment of the company's distinctive
competencies and core capabilities.
a. True
b. False
ANSWER: False
RATIONALE: An analysis of an organization's internal environment, that is, a company's strengths and
weaknesses, begins with an assessment of distinctive competencies and core capabilities.
POINTS: 1
LEARNING OBJECTIVES: WILL.MGMT.15.6.02b - 6.2b
TOPICS: AACSB Analytic
3. Companies often choose a stability strategy when their external environment doesn't change much, or after they
have struggled with periods of explosive growth.
a. True
b. False
ANSWER: True
POINTS: 1
LEARNING OBJECTIVES: WILL.MGMT.15.6.03b - 6.3b
TOPICS: AACSB Analytic
4. Reactors follow the consistent strategy of anticipating and reacting to potential external opportunities and threats
prior to their occurrence.
a. True
b. False
ANSWER: False
RATIONALE: Unlike defenders, prospectors, or analyzers, reactors do not follow a consistent strategy.
Furthermore, rather than anticipating and preparing for external opportunities and threats,
reactors tend to "react" to changes in their external environment after they occur.
POINTS: 1
LEARNING OBJECTIVES: WILL.MGMT.15.6.04c - 6.4c
TOPICS: AACSB Analytic
5. The first step in the strategy-making process is to:
a. assess the need for strategic change
b. conduct a situation analysis
c. choose strategic alternatives
d. evaluate the impact of changes on the internal environment
e. create a strategic budget
ANSWER: a
POINTS: 1
LEARNING OBJECTIVES: WILL.MGMT.15.6.02a - 6.2a
TOPICS: AACSB Analytic
6. In a situational analysis, a strategic group is a group of that top managers choose for comparing,
evaluating, and benchmarking their company's strategic threats and opportunities.
a. non-industry-specific companies
b. expert managers
c. trade journals and other relevant periodicals
d. other firms within an industry
e. consulting firms that use the Delphi technique
ANSWER: d
POINTS: 1
LEARNING OBJECTIVES: WILL.MGMT.15.6.02b - 6.2b
TOPICS: AACSB Analytic
7. Which of the following is a mechanism used to examine external threats and opportunities facing a firm as well as its
internal strengths and weaknesses?
a. organizational scanning
b. internal marketing
c. shadow-strategy task forces
d. benchmarking
e. a situational analysis
ANSWER: e
POINTS: 1
LEARNING OBJECTIVES: WILL.MGMT.15.6.02b - 6.2b
TOPICS: AACSB Analytic
8. In any organization, the are the less visible, internal decision-making routines, problem-solving
processes, and organization cultures that determine how efficiently inputs can be turned into outputs.
a. imperfectly imitable resources
b. valuable resources
c. distinctive competencies
d. core capabilities
e. sources of innovation
ANSWER: d
POINTS: 1
LEARNING OBJECTIVES: WILL.MGMT.15.6.02b - 6.2b
TOPICS: AACSB Analytic
9. According to Strategic Reference Point Theory, managers have two basic strategic alternatives. They are:
a. risk-avoiding strategy and pioneering strategy
b. risk-avoiding strategy and risk-seeking strategy
c. risk-maintenance strategy and conflict-avoidance strategy
d. frontal attack strategy and guerrilla strategy
e. none of these
ANSWER: b
POINTS: 1
LEARNING OBJECTIVES: WILL.MGMT.15.6.02c - 6.2c
TOPICS: AACSB Analytic
10. The research on diversification in portfolio management indicates that the best approach is probably:
a. related differentiation
b. related diversification
c. unrelated diversification
d. repositioning
e. no diversification
ANSWER: b
POINTS: 1
LEARNING OBJECTIVES: WILL.MGMT.15.6.03a - 6.3a
TOPICS: AACSB Analytic
11. Which of the following is NOT one of the five industry forces that determine an industry's overall attractiveness and
potential for long-term profitability?
a. character of rivalry
b. existing complementary products
c. bargaining power of suppliers
d. threat of substitute products
e. bargaining power of buyers
ANSWER: b
RATIONALE: See also Exhibit 6.6.
POINTS: 1
LEARNING OBJECTIVES: WILL.MGMT.15.6.04a - 6.4a
TOPICS: AACSB Analytic
12. The purpose of strategies is to choose an industry-level strategy that is best suited to changes in the
organization's external environment.
a. positioning
b. differentiation
c. growth
d. adaptive
e. diversification
ANSWER: d
POINTS: 1
LEARNING OBJECTIVES: WILL.MGMT.15.6.04c - 6.4c
TOPICS: AACSB Analytic
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“The number of immigrants of all nations was 720,045 in 1881. Of
these 20,711 were Chinese. There is no record in the Bureau of
Statistics of the number who departed within the year. But a very
high anti-Chinese authority places it above 10,000. Perhaps the
expectation that the hostile legislation under the treaty would not
affect persons who entered before it took effect stimulated somewhat
their coming. But the addition to the Chinese population was less
than one seventy-second of the whole immigration. All the Chinese
in the country do not exceed the population of its sixteenth city. All
the Chinese in California hardly surpass the number which is easily
governed in Shanghai by a police of one hundred men. There are as
many pure blooded Gypsies wandering about the country as there
are Chinese in California. What an insult to American intelligence to
ask leave of China to keep out her people, because this little handful
of almond-eyed Asiatics threaten to destroy our boasted civilization.
We go boasting of our democracy, and our superiority, and our
strength. The flag bears the stars of hope to all nations. A hundred
thousand Chinese land in California and everything is changed. God
has not made of one blood all the nations any longer. The self-
evident truth becomes a self-evident lie. The golden rule does not
apply to the natives of the continent where it was first uttered. The
United States surrender to China, the Republic to the despot,
America to Asia, Jesus to Joss.
“There is another most remarkable example of this prejudice of
race which has happily almost died out here, which has come down
from the dark ages and which survives with unabated ferocity in
Eastern Europe. I mean the hatred of the Jew. The persecution of the
Hebrew has never, so far as I know, taken the form of an affront to
labor. In every other particular the reproaches which for ten
centuries have been leveled at him are reproduced to do service
against the Chinese. The Hebrew, so it was said, was not a Christian.
He did not affiliate or assimilate into the nations where he dwelt. He
was an unclean thing, a dog, to whom the crime of the crucifixion of
his Saviour was never to be forgiven. The Chinese quarter of San
Francisco had its type in every city of Europe. If the Jew ventured
from his hiding-place he was stoned. His wealth made him the prey
of the rapacity of the noble, and his poverty and weakness the victim
of the rabble. Yet how has this Oriental conquered Christendom by
the sublimity of his patience? The great poet of New England, who
sits by every American fireside a beloved and perpetual guest, in that
masterpiece of his art, the Jewish Cemetery at Newport, has
described the degradation and the triumph of these persecuted
children of God.
How came they here? What burst of Christian hate,
What persecution, merciless and blind,
Drove o’er the sea—that desert desolate—
These Ishmaels and Hagars of mankind?
They lived in narrow streets and lanes obscure,
Ghetto and Judenstrass, in mirk and mire;
Taught in the school of patience to endure
The life of anguish and the death of fire.
· · · · ·
Upon the bill being reported to the Senate from the Committee of
the Whole Mr. Ingalls again moved to limit the suspension of the
coming of Chinese laborers to ten years.
Mr. Jones, of Nevada, said this limit would hardly have the effect
of allaying agitation on the subject as the discussion would be
resumed in two or three years, and ten years, he feared, would not
even be a long enough period to enable Congress intelligently to base
upon it any future policy.
Mr. Miller, of California, also urged that the shorter period would
not measurably relieve the business interest of the Pacific slope,
inasmuch as the white immigrants, who were so much desired,
would not come there if they believed the Chinese were to be again
admitted in ten years. Being interrupted by Mr. Hoar, he asserted
that that Senator and other republican leaders, as also the last
republican nominee for President, had heretofore given the people of
the Pacific slope good reason to believe that they would secure to
them the relief they sought by the bill.
Mr. Hoar, (Rep.) of Mass., briefly replied.
The amendment was lost—yeas 20, nays 21.
The vote is as follows:
Yeas—Messrs. Aldrich, Allison, Blair, Brown, Conger, Davis of
Illinois, Dawes, Edmunds, Frye, Hale, Hoar, Ingalls, Lapham,
McDill, McMillan, Mahone, Morrill, Plumb, Sawyer and Teller—20.
Nays—Messrs. Bayard, Beck, Call, Cameron of Wisconsin, Coke,
Fair, Farley, Garland, George, Gorman, Jackson, Jonas, Jones of
Nevada, Miller of California, Miller of New York, Morgan, Ransom,
Slater, Yance, Voorhees and Walker—21.
Messrs. Butler, Camden, McPherson, Johnston, Davis of West
Virginia, Pendleton and Ransom were paired with Messrs. Hawley,
Anthony, Sewell, Platt, Van Wyck, Windom and Sherman.
Messrs. Hampton, Pugh, Vest, Rollins and Jones of Florida were
paired with absentees.
Increase Per
1850. 1880. Cent.
Commerce of all
nations $4,280,000,000 $14,405,000,000 240
Railways (miles
open) 44,400 222,600 398
Shipping tonnage 6,905,000 18,720,000 171
Carrying tonnage 8,464,000 34,280,060 304