Deck 5: Functional and Competitive Strategies

Question 1

The differentiator will market products aimed at the "average" customer.

Answer 1

False

Question 2

An organization's competitive advantage cannot be eroded easily by competitors' actions.

Answer 2

False

Question 3

Mintzberg's generic strategies are more popular than Porter's generic strategies.

Answer 3

False

Question 4

An organization's functional strategies are the goal-directed plans and actions of the organization's functional areas.

Question 5

The corporate strategies play a dual role in the implementation of competitive strategy.

Question 6

The SWOT analysis points to the strategic issues organizational decision makers need to address in their pursuit of sustainable competitive advantage and high performance levels.

Question 7

An organization's two main support processes are information systems and auditing systems.

Question 8

One disadvantage of the cost leader strategy is the ability to remain unique to the customer.

Question 9

Effectively managing customers and competitors is customer satisfaction.

Question 10

The reactor strategy is characterized by continually innovating and exploiting new products and markets.

Question 11

The product functional strategies include design, production-operations, and human resources.

Question 12

Competitive advantage is what sets an organization apart from other firms in its industry.

Question 13

The process of creating goods and services in which organizational resources are transformed into outputs is called production-operations.

Question 14

The reactor competitive strategy involves thorough analysis of new business ideas and imitation.

Question 15

The three functional strategies relate to the product, the processes, and the people.

Question 16

Once products are produced, the next step is to efficiently and effectively get those products to the customers when, where, and how they want them.

Question 17

High-performance work practices are production policies and practices that can lead to both high individual and high organizational performance.

Question 18

Competitive strategy is a choice of how an organization or business unit is going to compete in its particular industry or market.

Question 19

The process of creating and providing goods and services is production-operations.

Question 20

The prospector will market products aimed at the "average" customer.

Question 21

Ms. diMatteo discovered in opening her second restaurant, she needed to pay attention to which of the following concerns?

A) The product
B) The people
C) The support processes
D) All the above answer choices are correct.
E) None of the answer choices are correct.

Question 22

The strategic decisions associated with the organization are the choice of a system and the choice of type of system needed for which system type?

A) Marketing
B) Human resources
C) Information
D) Financial-accounting
E) None of the answer choices is correct.

Question 23

Which of the following should be included in an organization's marketing mix strategies?

A) Product strategies
B) Pricing strategies
C) Promoting strategies
D) Distribution strategies
E) All of the answer choices are correct.

Question 24

The ________ point(s)to the strategic issues organizational decision makers need to address in their pursuit of sustainable competitive advantage and high levels of performance.

A) portfolio analysis
B) distinctive capabilities
C) strengths
D) SWOT analysis
E) core competencies

Question 25

One factor that would lead to high-performance work practices is

A) using contingent pay.
B) forming problem-solving groups.
C) conducting attitude surveys.
D) All of the answer choices are correct.
E) None of the answer choices is correct.

Question 26

Which of the following is a possible production-operations management strategy?

A) Selective specialization
B) Inventory management systems
C) User positioning
D) Market logistics
E) Database marketing

Question 27

The marketing mix is commonly known as the

A) 4Ps
B) 5Ps
C) 7Ss
D) 4Ss
E) 5Ss

Question 28

Product design strategies typically involve an organization's ________ functional area.

A) finance
B) R&D
C) accounting
D) HR
E) corporate governance

Question 29

The two main support processes in an organization are

A) production systems and marketing systems.
B) procurement systems and HR systems.
C) financial accounting systems and HR systems.
D) information systems and HR systems.
E) information systems and financial accounting systems.

Question 30

Determining the optimum mix of equity or debt is a decision made by which organizational support process?

A) Financial-accounting systems
B) Corporate governance systems
C) Procurement systems
D) Product development systems
E) None of the answer choices is correct.

Question 31

The role of top-level decision makers in the strategic management process is to

A) develop the overall goal that the organization hopes to achieve.
B) establish the overall operational goals.
C) establish functional strategies.
D) supervise line managers.
E) None of the answer choices is correct.

Question 32

The four Ps in marketing are

A) product, price, promotion, and place.
B) production, placement, personnel, and place.
C) promotion, price, positioning, and perception.
D) perception, perspective, promotion, and price.
E) None of the answer choices is correct.

Question 33

Which of the following is included under the product functional strategies?

A) Marketing
B) Management
C) Supervision
D) Leadership
E) Control

Question 34

________ strategies are the short-term goal-directed decisions and actions of the organization's various functional areas.

A) Competitive
B) Coordinating
C) Corporate
D) Business
E) Functional

Question 35

________ refer(s)to the process of creating and providing goods and services.

A) Production-operations
B) Marketing
C) High-performance work practices
D) Information system
E) None of the answer choices is correct.

Question 36

One of the two strategic decisions most associated with the organization's information system is

A) optimum equity mix.
B) creating an approved vendor list.
C) selecting the correct marketing mix.
D) corporate budgeting.
E) the choice of system technology.

Question 37

Which are the two biggest factors in marketing?

A) Competitors and pricing
B) Product and competitors
C) Customers and competitors
D) Pricing and customers
E) Layout and distribution

Question 38

An organization's ________ strategies reflect its commitment to and treatment of its employees.

A) procurement
B) corporate
C) HR
D) competitive.
E) cooperative.

Question 39

Designing which of the following systems involves making sure we have the information we need, when the information is needed, and in the form needed?

A) Marketing
B) Human resources
C) Information
D) Financial-accounting
E) None of the answer choices is correct.

Question 40

Which of the following is an example of high-performance work practices?

A) Fixed job assignments
B) Centralized decision making
C) Self-managed work teams
D) Limited employee involvement
E) None of the answer choices is correct.

Question 41

Ms. diMatteo has decided to use a computerized order taking and fulfillment system in the new location demonstrating her ability to give attention to which of the following strategies?

A) Marketing
B) Human resources
C) Information
D) Financial-accounting
E) None of the answer choices is correct.

Question 42

Francesca's has had a higher than desirable level of server turnover. Ms. diMatteo decided she needed to pay better attention to which strategies?

A) Marketing
B) Human resources
C) Information
D) Financial-accounting
E) None of the answer choices is correct.

Question 43

Which of the following is NOT a possible dimension for identifying strategic groups?

A) Units sold
B) Price
C) Quality
D) Geographic scope

Question 44

________ is when organizations battle or vie for some desired object or outcome.

A) Competition
B) Strategy
C) Goal
D) Objective

Question 45

Which of the following is NOT a way to segment specialized market niches?

A) Price consciousness
B) Geographical
C) Type of customer
D) Product line segment

Question 46

Which of the following is not a recommended competitive strategy for developing a competitive advantage?

A) Reactor
B) Defender
C) Analyzer
D) Prospector

Question 47

When a company builds a profitable business by "stealing" ideas from other successful peers, it is following a(n)________ strategy.

A) analyzer
B) defender
C) prospector
D) reactor

Question 48

Which of the following is NOT one of Miles and Snow's adaptive strategies?

A) Cost leader
B) Prospector
C) Defender
D) Analyzer

Question 49

The ________ works hard to establish brand loyalty.

A) differentiator
B) cost leader
C) defender
D) reactor

Question 50

Explain the disadvantages of being a first mover organization.

Question 51

When an organization hasn't developed a low cost or a differentiation competitive advantage, it is said to be

A) stuck-in-the-middle.
B) using an integrated strategy.
C) using a strategy of best cost.
D) pursuing a niche-based competitive advantage.

Question 52

According to the Miles and Snow typology, a defender

A) searches for market stability.
B) seeks innovation.
C) simply reacts to environmental changes.
D) makes strategic adjustments only when forced to do so.

Question 53

If Ms. diMatteo wanted to introduce high-performance work practices in her organization, which of the following practices would she adopt?

A) Centralized decision making
B) Fixed job assignments
C) Limited communication
D) Self-managed work teams
E) Seniority-based compensation

Question 54

In Mintzberg's typology, ________ is a way to differentiate.

A) price
B) adaptability
C) focus
D) niche

Question 55

Describe some product strategies.

Question 56

In Porter's cost leadership strategy, the main goal of the cost leader is to have the lowest ________ in the industry.

A) costs
B) prices
C) profits
D) products

Question 57

Describe briefly Porter's notion of being "stuck-in-the-middle." Is it always true?

Question 58

The ________ strategy is one in which an organization continually innovates by finding and exploiting new product and market opportunities.

A) prospector
B) defender
C) analyzer
D) reactor

Question 59

List some examples of high-performance work practices.

Question 60

When an organization competes by providing unique products with features that customers value, perceive as different, and are willing to pay a premium price for, it is using a strategy of

A) differentiation.
B) focus.
C) cost leadership.
D) niche.