Management 360 - Management and Organizational Behavior » Spring 2021 » Quiz Chapter 10
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Question #1
Competitive advantage is the ability to do something so well that one outperforms competitors.
A.
TRUE
B.
FALSE
Question #2
The strategic management process begins with analysis of mission, values, and objectives.
A.
TRUE
B.
FALSE
Question #3
Retrenchment may take the form of a Chapter 11 bankruptcy.
A.
FALSE
B.
It is the ability to identify the setbacks in the organizational procedure and work towards correcting them.
C.
TRUE
Question #4
Which of the following best defines the term “sustainable competitive advantage”?
A.
It is a special strength that gives an organization a competitive advantage.
B.
It is the ability to formulate technology to gain market exposure.
C.
It is the ability to focus organizational energies on a unifying and compelling goal.
D.
It is the ability to formulate strategies efficiently to accomplish long-term goals.
E.
It is the ability to outperform rivals in ways that are difficult or costly to imitate.
Question #5
Which of the following best describes a strategy?
A.
It is a comprehensive plan guiding resource allocation to achieve long-term organization goals.
B.
It is the predominant value system of the organization as a whole.
C.
It is the same as the mission of the organization.
D.
It is the document expressing the organization’s reason for existence in society.
E.
marketing
Question #6
A _____ strategy typically sets long-term direction for the total enterprise.
A.
marketing
B.
business
C.
corporate
D.
branding
E.
functional
Question #7
A _____ strategy primarily identifies how a division or strategic business unit will compete in its product or service domain.
A.
functional
B.
branding
C.
corporate
D.
business
E.
strategy implementation.
Question #8
The entire process of formulating and implementing strategies to accomplish long-term goals and sustain competitive advantage is referred to as:
A.
strategic outsourcing.
B.
strategic analysis
C.
strategic management.
D.
strategy formulation.
E.
operating objective
Question #9
A(n) _____ expresses an organization’s reason for existence in society.
A.
mission statement
B.
cash flow statement
C.
Functional values
D.
statement of purpose
E.
net worth statement
Question #10
_____ are broad beliefs about what is or is not appropriate behavior.
A.
Corporate subcultures
B.
Core values
C.
Diversified values
D.
Marketing values
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