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.
FALSE
B.
TRUE
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 the ability to formulate strategies efficiently to accomplish long-term goals.
B.
It is a special strength that gives an organization a competitive advantage.
C.
It is the ability to focus organizational energies on a unifying and compelling goal.
D.
It is the ability to formulate technology to gain market exposure.
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 same as the mission of the organization.
C.
marketing
D.
It is the document expressing the organization’s reason for existence in society.
E.
It is the predominant value system of the organization as a whole.
Question #6
A _____ strategy typically sets long-term direction for the total enterprise.
A.
corporate
B.
branding
C.
business
D.
functional
E.
marketing
Question #7
A _____ strategy primarily identifies how a division or strategic business unit will compete in its product or service domain.
A.
business
B.
strategy implementation.
C.
branding
D.
functional
E.
corporate
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 management.
B.
strategic outsourcing.
C.
strategy formulation.
D.
strategic analysis
E.
operating objective
Question #9
A(n) _____ expresses an organization’s reason for existence in society.
A.
statement of purpose
B.
net worth statement
C.
cash flow statement
D.
Functional values
E.
mission statement
Question #10
_____ are broad beliefs about what is or is not appropriate behavior.
A.
Corporate subcultures
B.
Marketing values
C.
Core values
D.
Diversified values
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