Question 1

The question How do we compete? concerns _____ strategy.

Accepted Answer

The answer of The question How do we compete? concerns...

Question 2

Persuasion, motivation, and changes in cultures and values are examples of which of the dimensions used to facilitate the implementation of corporate strategy?
A) Leadership
B) Structural design
C) Human resources
D) Information and control systems
E) Compensation

Accepted Answer

Persuasion and motivation are related to leadership, which is one of the dimensions used to facilitate the implementation of corporate strategy. Changes in cultures and values can also be influenced by effective leadership. Structural design, human resources, information and control systems, and compensation are also important dimensions, but they are not directly related to the examples given in the question.

Question 3

In the BCG matrix, the dog has _____ market share and _____ business growth rate.

Accepted Answer

The answer of In the BCG matrix, the dog has...

Question 4

Which of the following refers to a strategy that combines global coordination to attain efficiency with flexibility to meet specific customer needs in various countries?
A) Domestic strategy
B) Global strategy
C) Transnational strategy
D) Multi domestic strategy
E) Region design strategy

Accepted Answer

A transnational strategy combines global coordination to attain efficiency with flexibility to meet specific customer needs in various countries. This strategy allows companies to achieve economies of scale and scope while also adapting to local markets and customer preferences. It involves a high degree of integration and collaboration across different countries and regions.

Question 5

When organizational parts interact to produce a joint effect that is greater than the sum of the parts acting alone, _____ occurs.

Accepted Answer

The answer of When organizational parts interact to produce a...

Question 6

_____ refers to the modification of product design and promotional strategies to suit the specific needs of individual countries.
A) Domestic strategy
B) Global strategy
C) Transnational strategy
D) Multidomestic strategy
E) Market design strategy

Accepted Answer

Multidomestic strategy refers to the modification of product design and promotional strategies to suit the specific needs of individual countries. This strategy is used when companies operate in multiple countries with different cultural, legal, and economic differences. The focus is on local responsiveness and decentralization rather than standardization.

Question 7

A business activity that an organization does particularly well relative to its competition is known as a(n) _____.

Accepted Answer

The answer of A business activity that an organization does...

Question 8

The question What business are we in? concerns the _____ strategy.

Accepted Answer

The answer of The question What business are we in?...

Question 9

People need to understand how their individual actions can contribute to achieving an organizational strategy. This can be accomplished by delegating authority, creating teams and clearly defining roles. These actions are part of which aspect of the following for putting strategy into action
A) Visible leadership
B) Candid communication
C) Human resources
D) Clear roles and accountability
E) Bargaining power of employees

Accepted Answer

Clear roles and accountability are crucial for putting strategy into action by defining individual responsibilities and how they contribute to the larger organizational goal. Delegating authority and creating teams are two ways to establish clear roles and increase accountability for achieving strategy. Visible leadership, candid communication, human resources, and bargaining power of employees are important factors as well, but they are not directly related to defining individual roles and responsibilities.

Question 10

The plan of action that prescribes resource allocation and other activities for dealing with the environment and helping the organization attain its goals is called a(n) _____.

Accepted Answer

The answer of The plan of action that prescribes resource...

Question 11

Some people argue that _____ is the most difficult and yet is the most important part of strategic management.
A) SWOT analysis
B) strategic formation
C) strategic execution
D) strategic analysis
E) strategy evaluation

Accepted Answer

While all parts of strategic management are important, strategic execution is often considered the most difficult and crucial part. It requires not only effective implementation of the chosen strategy, but also the ability to adjust and adapt to changing circumstances. Without successful execution, even the best strategy will fail to achieve its objectives.

Question 12

The use of managerial and organizational tools to direct resources toward accomplishing strategic results is known as _____.

Accepted Answer

The answer of The use of managerial and organizational tools...

Question 13

The _____ function recruits selects, trains, transfers, promotes and dismisses employees to facilitate the achievement of strategic goals.
A) production
B) leadership
C) information and control systems
D) structural design
E) human resource

Accepted Answer

The function described in the question is the role of human resources. It involves managing the workforce to ensure that they are equipped with the necessary skills, knowledge, and attitude to achieve the organization's objectives.

Question 14

Which of the following is NOT one of the tools and functions used for putting strategy into action
A) Visible leadership
B) Diversification
C) Human Resources
D) Communication
E) Clear roles and accountability

Accepted Answer

Diversification is not a tool or function used for putting strategy into action. Instead, it is a strategy itself. The other options listed are all important tools and functions for implementing and executing a strategic plan.

Question 15

_____ is a type of corporate-level strategy that pertains to the organization's mix of strategic business units.

Accepted Answer

The answer of _____ is a type of corporate-level strategy...

Question 16

The question How do we support the business-level competitive strategy? concerns _____ strategy.

Accepted Answer

The answer of The question How do we support the...

Question 17

_____ is the set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.

Accepted Answer

The answer of _____ is the set of decisions and...

Question 18

In the BCG matrix, the star has a(n) _____ market share in a rapidly growing industry.

Accepted Answer

The answer of In the BCG matrix, the star has...

Question 19

_____ includes the planning and decision making that lead to the establishment of the firm's goals and the development of a specific strategic plan.

Accepted Answer

The answer of _____ includes the planning and decision making...

Question 20

Which of the following strategies for a foreign market would be appropriate when the level for potential global integration is low and will remain that way.
A) Globalization
B) Multi domestic
C) Export
D) Transnational
E) Import

Accepted Answer

When the level of potential global integration is low and is expected to remain that way, the best strategy would be to export. This strategy involves producing goods in the home country and then shipping them to the foreign market. This strategy allows a company to enter the foreign market without making significant investments in production facilities or marketing. It is a low-risk strategy that allows a firm to test the waters before deciding whether to invest more resources in the foreign market.

Quiz 8: Strategy Formulation and Execution

The question How do we compete? concerns _____ strategy.

Persuasion, motivation, and changes in cultures and values are examples of which of the dimensions used to facilitate the implementation of corporate strategy?

In the BCG matrix, the dog has _ market share and _ business growth rate.

Which of the following refers to a strategy that combines global coordination to attain efficiency with flexibility to meet specific customer needs in various countries?

When organizational parts interact to produce a joint effect that is greater than the sum of the parts acting alone, _____ occurs.

_____ refers to the modification of product design and promotional strategies to suit the specific needs of individual countries.

A business activity that an organization does particularly well relative to its competition is known as a(n) _____.

The question What business are we in? concerns the _____ strategy.

People need to understand how their individual actions can contribute to achieving an organizational strategy. This can be accomplished by delegating authority, creating teams and clearly defining roles. These actions are part of which aspect of the following for putting strategy into action

The plan of action that prescribes resource allocation and other activities for dealing with the environment and helping the organization attain its goals is called a(n) _____.

Some people argue that _____ is the most difficult and yet is the most important part of strategic management.

The use of managerial and organizational tools to direct resources toward accomplishing strategic results is known as _____.

The _____ function recruits selects, trains, transfers, promotes and dismisses employees to facilitate the achievement of strategic goals.

Which of the following is NOT one of the tools and functions used for putting strategy into action

_____ is a type of corporate-level strategy that pertains to the organization's mix of strategic business units.

The question How do we support the business-level competitive strategy? concerns _____ strategy.

_____ is the set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.

In the BCG matrix, the star has a(n) _____ market share in a rapidly growing industry.

_____ includes the planning and decision making that lead to the establishment of the firm's goals and the development of a specific strategic plan.

Which of the following strategies for a foreign market would be appropriate when the level for potential global integration is low and will remain that way.