管理学第十版C8习题与答案

Chapter 8 Strategic Management

TRUE/FALSE QUESTIONS

THE IMPORTANCE OF STRATEGIC MANAGEMENT

1. Strategic management is the set of managerial decisions and actions that determines the short-term

performance of an organization. (False)

THE STRATEGIC MANAGEMENT PROCESS

2. The first step in the strategic management process is analyzing the external environment. (False)

3. Within an industry, an environment can present opportunities to one organization and pose threats to

another. (True)

4. Evaluating an organization’s intangible assets is part of doing an internal analysis in the strategic

management process. (True)

5. Activities that an organization does well or resources that it has available are called capabilities. (False)

6. Exceptional or unique organizational resources are known as core capabilities. (False P165)

7. The final step in the strategic management process is implementing the objectives. (False)

TYPES OF ORGANIZATIONAL STRATEGIES

8. Corporate-level strategies are developed for organizations that run more than one type of business. (True; moderate; p. 167)

9. One method of implementing a growth strategy is to increase production capacity. (True)

10. A trucking company that grows by purchasing a chain of gasoline stations is engaged in horizontal

integration. (False)

11. Diversification is an example of a corporate retrenchment strategy.

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(False)

12. A stability strategy is developed when management decides it will remain profitable by maintaining

the status quo in a rapidly changing external environment. (False)

13. A retrenchment strategy is a renewal strategy designed to address organizational weaknesses that are

leading to performance declines. (Truep169)

14. Turnaround is one type of renewal strategy. (True)

15. Stars, one of the four business groups in the corporate portfolio mix, are characterized by low growth

and low market share. (False)

16. According to Porter’s competitive strategies framework, the cost leadership strategy would result in

the best quality product at a justifiable cost. (False)

17. According to Porter’s competitive strategies framework, a company using a focus strategy seeks to

be unique in its product offering and in its industry in ways that are widely valued by customers. (True)

STRATEGIC MANAGEMENT IN TODAY’S ENVIRONMENT

18. Managers in all kinds of organizations face increasingly intense global competition and high

performance expectations by investors and customers. (True)

19. When managers “manage strategically” by following the strategic management process, the chosen

strategies will always lead to positive outcomes. (False)

20. The key for managers is responding quickly when it is obvious that the strategy isn’t working. (True)

21. Since information technology is so readily accessible, it cannot contribute to sustainable competitive

advantage. (False)

22. An important innovation strategy involves communication. (False)

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MULTIPLE-CHOICE QUESTIONS

For each of the following choose the answer that most completely answers the question.

THE IMPORTANCE OF STRATEGIC MANAGEMENT

23. __________________ is the collection of managerial decisions and actions that determine the long-run performance of an organization. a. Planning

b. Goal-oriented management c. Strategic management d. Leadership (c)

24. Studies of the factors that contribute to organizational performance have shown _____________

relationship between strategic planning and performance. a. no

b. a mixed c. a negative d. a positive (d)

THE STRATEGIC MANAGEMENT PROCESS

25. What provides clues to what an organization sees as its purpose?

a. the organization’s goals b. the organization’s strategies

c. the organization’s business model d. the organization’s mission (d)

26. In analyzing the environment, managers should know ____________.

a. the competition’s stock price

b. pending legislation that might affect the organization c. the organization’s purpose

d. the goals currently in place and the strategies currently being used (b,p165)

27. When an organization is analyzing its labor supply, it is studying its ________________.

a. organizational culture b. internal environment c. external environment d. organizational structure (c)

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28. ___________ and ___________ are outcomes from a study of the external environment.

a. Threats; weaknesses b. Strengths; weaknesses c. Weights; measures d. Opportunities; threats (d)

29. What are an organization’s financial, physical, human, and intangible assets that are used to develop,

manufacture, and deliver products or services to its customers? a. its resources b. its capabilities c. its opportunities

d. its core competencies (a)

30. If a bank estimates the capabilities of its training and development department employees prior to

implementing a new training program designed to change their method of providing customer service, it is completing what step in the strategic management process? a. doing an external analysis

b. identifying the organization’s current mission, goals, and strategies c. doing an internal analysis d. formulating strategies (c)

31. ________________ are the organization’s major value-creating skills, capabilities, and resources

that determine the organization’s competitive weapons. a. Strengths b. Opportunities

c. Core competencies d. Weaknesses (c)

32. Relative to the organization’s culture, a manager must be aware that ___________.

a. strong and weak cultures have the same effects on strategy

b. the content of a culture has a major effect on the strategies that can be pursued c. unimportant factors can support escalation of commitment to strategies d. strong cultures are the most desired cultures (b)

33. The merging of the analyses of internal and external factors influencing the organization’s strategy is

known as ____________. a. complete studies

b. organizational behavior and theory c. definitional analysis d. SWOT analysis

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(d)

34. The final step in strategic planning answers the question, ____________

a. How effective have our strategies been? b. What business have we been in?

c. What business should we have we been in? d. How much money have we lost? (a)

TYPES OF ORGANIZATIONAL STRATEGIES

35. Middle-level managers typically are responsible for _______________ strategies.

a. business

b. organizational c. operational d. corporate (a)

36. ___________ strategy determines what businesses an organization should be in.

a. Business

b. Organizational c. Operational d. Corporate (d)

37. What are the three main types of corporate strategies?

a. concentration, integration, and diversification b. growth, stability, and renewal

c. retrenchment, turnaround, and clicks-and-bricks d. cost leadership, differentiation, and focus (b)

38. There are three main types of growth strategies: _____________.

a. concentration, integration, and diversification b. concentration, integration, and exfoliation c. integration, diversification, and infiltration d. concentration, integration, and focus (a)

39. Growth through _______________ is achieved when an organization chooses to grow by increasing

its own business operations. a. concentration

b. horizontal integration c. vertical integration d. related diversification

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