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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Document preview page 1

Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 1

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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank

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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 1 preview imageTrue/False1.Strategiccompetitivenessisachievedwhenafirmsuccessfullyformulatesandimplementsavalue-creatingstrategy.a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:EasyREFERENCES:4LEARNINGOBJECTIVES:STMA.HITT.15.01.01-01.01NATIONALSTANDARDS:UnitedStates-BUSPROGReflectiveSTATESTANDARDS:UnitedStates-AK-DISC:StrategyKEYWORDS:Bloom's:KnowledgeNOTES:AACSB:Analytic|DISC:Strategy|Bloom:Knowledge2.AlligatorEnterpriseshasearnedabove-averagereturnssinceitsfoundingfiveyearsago.SincenootherfirmhaschallengedAlligatorinitsparticularmarketniche,thefirm'sownerscanfeelsecurethatAlligatorhasestablishedacompetitiveadvantage.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:HardREFERENCES:5LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NATIONALSTANDARDS:UnitedStates-BUSPROGReflectiveSTATESTANDARDS:UnitedStates-AK-DISC:StrategyKEYWORDS:Bloom's:ApplicationNOTES:AACSB:Analytic|DISC:Strategy|Bloom:Application3.Thegoalofstrategicmanagementistodevelopacompetitiveadvantagethatispermanent.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:MediumREFERENCES:5LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NATIONALSTANDARDS:UnitedStates-BUSPROGReflectiveSTATESTANDARDS:UnitedStates-AK-DISC:StrategyKEYWORDS:Bloom's:KnowledgeNOTES:AACSB:ReflectiveThinking|DISC:Strategy|Bloom:Comprehension
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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 2 preview image
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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 3 preview image4.Riskintermsoffinancialreturnsreflectsaninvestor'suncertaintyabouteconomicgainsorlossesthatwillresultfromaparticularinvestment.a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:EasyREFERENCES:5LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NATIONALSTANDARDS:UnitedStates-BUSPROGReflectiveSTATESTANDARDS:UnitedStates-AK-DISC:StrategyKEYWORDS:Bloom's:KnowledgeNOTES:AACSB:Analytic|DISC:Strategy|Bloom:Knowledge5.Averagereturnsarereturnsinexcessofwhataninvestorexpectstoearnfromotherinvestmentswithasimilaramountofrisk.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:MediumREFERENCES:5LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NATIONALSTANDARDS:UnitedStates-BUSPROGReflectiveSTATESTANDARDS:UnitedStates-AK-DISC:StrategyKEYWORDS:Bloom's:KnowledgeNOTES:AACSB:Analytic|DISC:Strategy|Bloom:Knowledge6.Returnscanonlybemeasuredinaccountingtermssuchasreturnonassets,returnonequity,orreturnonsales.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:EasyREFERENCES:5LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NATIONALSTANDARDS:UnitedStates-BUSPROGReflectiveSTATESTANDARDS:UnitedStates-AK-DISC:StrategyKEYWORDS:Bloom's:KnowledgeNOTES:AACSB:Analytic|DISC:Strategy|Bloom:Knowledge
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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 4 preview image7.Economiesofscaleandhugeadvertisingbudgetsarejustaseffectiveinthenewcompetitivelandscapeastheywereinthepast,buttheymustbereinforcedbystrategicflexibility.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:HardREFERENCES:7LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NATIONALSTANDARDS:UnitedStates-BUSPROGReflectiveSTATESTANDARDS:UnitedStates-AK-DISC:StrategyKEYWORDS:Bloom's:KnowledgeNOTES:AACSB:Analytic|DISC:Strategy|Bloom:Knowledge8.Thetwoprimarydriversofhypercompetitionaretheemergenceoftheglobaleconomyandtechnology.a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:EasyREFERENCES:8LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NATIONALSTANDARDS:UnitedStates-BUSPROGTechnologySTATESTANDARDS:UnitedStates-AK-DISC:StrategyKEYWORDS:Bloom's:KnowledgeNOTES:AACSB:Analytic|DISC:Strategy|Bloom:Knowledge9.Therateoftechnologydiffusionhasbeensteadilyincreasingoverthelasttwodecades.a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:EasyREFERENCES:11LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NATIONALSTANDARDS:UnitedStates-BUSPROGTechnologySTATESTANDARDS:UnitedStates-NJ-DISC:-InformationTechnologiesUnitedStates-AK-DISC:MotivationConcepts-MotivationConceptsKEYWORDS:Bloom's:KnowledgeNOTES:AACSB:Technology|DISC:InformationTechnologies|Bloom:Knowledge
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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 5 preview image10.Whilepatentsmaybeaneffectivewayofprotectingproprietarytechnologyinsomeindustriessuchaspharmaceuticals,manyfirmscompetingintheelectronicsindustrydonotapplyforpatents.a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:MediumREFERENCES:11–12LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NATIONALSTANDARDS:UnitedStates-BUSPROGTechnologySTATESTANDARDS:UnitedStates-AK-DISC:MotivationConcepts-MotivationConceptsKEYWORDS:Bloom's:ApplicationNOTES:AACSB:Technology|DISC:InformationTechnologies|Bloom:Application11.ExamplesofincrementalinnovationsincludeiPods,PDAs,Wi-Fi,andwebbrowsersoftware.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:MediumREFERENCES:12LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NATIONALSTANDARDS:UnitedStates-BUSPROGTechnologySTATESTANDARDS:UnitedStates-AK-DISC:MotivationConcepts-MotivationConceptsKEYWORDS:Bloom's:ApplicationNOTES:AACSB:Technology|DISC:InformationTechnologies|Bloom:Application12.Therapidrateoftechnologicaldiffusionhasincreasedthecompetitivebenefitsofpatents.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:MediumREFERENCES:11–12LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NATIONALSTANDARDS:UnitedStates-BUSPROGTechnologyKEYWORDS:Bloom's:KnowledgeNOTES:AACSB:Technology|DISC:InformationTechnologies|Bloom:Comprehension
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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 6 preview image13.Developedcountriesstillhavemajoradvantagesinaccesstoinformationtechnologyoveremergingeconomiesbecauseofthesignificantcostoftheinfrastructureneededforcomputingpower.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:HardREFERENCES:12LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NATIONALSTANDARDS:UnitedStates-BUSPROGTechnologyKEYWORDS:Bloom's:KnowledgeNOTES:AACSB:Technology|DISC:InformationTechnologies|Bloom:Knowledge14.TherateofgrowthofInternet-basedapplicationscouldbeaffectedbythepossibilityofInternetserviceproviderschargingusersfordownloadingthoseapplications.a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:MediumREFERENCES:13LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NATIONALSTANDARDS:UnitedStates-BUSPROGTechnologyKEYWORDS:Bloom's:KnowledgeNOTES:AACSB:Technology|DISC:InformationTechnologies|Bloom:Comprehension15.ThenewCEOofOpacityEnterprisesisdeterminedtomakethelong-establishedfirmstrategicallyflexible.TheCEOfeelsthattheemployeesofthecompanyhavetheability,training,andresourcestoengageincontinuouslearning.ThemainobstacletheCEOmustfaceisinertia.a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:MediumREFERENCES:13LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NATIONALSTANDARDS:UnitedStates-BUSPROGTechnologyKEYWORDS:Bloom's:ApplicationNOTES:AACSB:Technology|DISC:InformationTechnologies|Bloom:Application
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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 7 preview image16.TheI/O(industrialorganization)modelassumesthattheuniquenessof afirm'sresourcesandcapabilitiesisitsmainsourceofabove-averagereturns.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:MediumREFERENCES:14LEARNINGOBJECTIVES:STMA.HITT.13.Comprehension-ComprehensionNATIONALSTANDARDS:UnitedStates-BUSPROGReflectiveKEYWORDS:Bloom's:KnowledgeNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:EnvironmentalInfluence|Dierdorff&Rubin:Strategic&systemsskills|Bloom:Comprehension17.TheCEOofTwinSpires,Inc.,isemotionallyandintellectuallycommittedtousingtheresourcesofthefirmtoservetheneedsofthenaturalgardeningcommunitybyprovidingrareandnativeplantstoindividualsandnurseriesaroundtheUnitedStates.ThiscommitmenthascarriedtheCEOthroughlongperiodsofbelow-averagereturnsoninvestment.TheperspectiveoftheCEOofTwinSpiresisconsistentwiththeassumptionsoftheindustrialorganization(I/O)model.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:HardREFERENCES:14LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NATIONALSTANDARDS:UnitedStates-BUSPROGReflectiveKEYWORDS:Bloom's:ApplicationNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:EnvironmentalInfluence|Dierdorff&Rubin:Strategic&systemsskills|Bloom:Application18.Althoughthefastfood(orquick-service)industryisunattractive,McDonald'shasearnedabove-averagereturnsthroughproductinnovations,enhancingexistingfacilities,andbuyingpropertiesoutsidetheUnitedStates.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:EasyREFERENCES:14LEARNINGOBJECTIVES:STMA.HITT.13.-1.4KEYWORDS:Bloom's:ApplicationNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:EnvironmentalInfluence|Dierdorff&Rubin:Managingthetaskenvironment|Bloom:Application
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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 8 preview image19.Thefiveforcesmodelsuggeststhatfirmsshouldtargettheindustrywiththehighestpotentialforabove-averagereturnsandthenimplementeitheracost-leadershipstrategyoradifferentiationstrategy.a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:HardREFERENCES:14LEARNINGOBJECTIVES:STMA.HITT.13.Knowledge-ApplicationKEYWORDS:Bloom's:ApplicationNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:EnvironmentalInfluence|Dierdorff&Rubin:Managingthetaskenvironment|Bloom:Knowledge20.Theuniquenessofafirm'sresourcesandcapabilitiesisthebasisforafirm'sstrategyanddeterminesitsabilitytoearnabove-averagereturnsundertheI/Oview.a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:MediumREFERENCES:17LEARNINGOBJECTIVES:STMA.HITT.15.01.04-01.04NATIONALSTANDARDS:UnitedStates-BUSPROG:AnalyticSTATESTANDARDS:UnitedStates-AK-DISC:MotivationConcepts-MotivationConceptsKEYWORDS:Bloom's:Comprehension21.Researchshowsthatagreaterpercentageofafirm'sprofitabilityisexplainedbytheI/Oratherthantheresource-basedmodel.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:MediumREFERENCES:17LEARNINGOBJECTIVES:STMA.HITT.15.01.04-01.04NATIONALSTANDARDS:UnitedStates-BUSPROG:AnalyticSTATESTANDARDS:UnitedStates-AK-DISC:MotivationConcepts-MotivationConceptsKEYWORDS:Bloom's:ComprehensionNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:Strategy|Dierdorff&Rubin:Managingthetaskenvironment|Bloom:Comprehension
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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 9 preview image22.Theresource-basedmodelassumesthatiffirmshaveresourcesthatarerareorcostlytoimitate,thisissufficienttoformabasisforcompetitiveadvantage.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:HardREFERENCES:17–18LEARNINGOBJECTIVES:STMA.HITT.15.01.04-01.04NATIONALSTANDARDS:UnitedStates-BUSPROG:AnalyticSTATESTANDARDS:UnitedStates-AK-DISC:MotivationConcepts-MotivationConceptsKEYWORDS:Bloom's:Comprehension23.Resourcesareconsideredrarewhentheyhavenostructuralequivalent.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:MediumREFERENCES:17LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:Strategy|Dierdorff&Rubin:Managingstrategy&innovation|Bloom:Knowledge24.Theassumptionsoftheindustrialorganizationmodelandtheresource-basedmodelarecontradictory.Therefore,organizationalstrategistsmustchooseoneortheothermodelasthebasisfordevelopingastrategicplan.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:MediumREFERENCES:17LEARNINGOBJECTIVES:STMA.HITT.13.Comprehension-ComprehensionNATIONALSTANDARDS:UnitedStates-BUSPROG:AnalyticNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:Strategy|Dierdorff&Rubin:Managingstrategy&innovation|Bloom:Comprehension
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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 10 preview image25.Aneffectivevisionstatementwillspecifythemarkettobeserved.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:EasyREFERENCES:19LEARNINGOBJECTIVES:STMA.HITT.13.Comprehension-ComprehensionNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:Strategy|Dierdorff&Rubin:Managingdecision-makingprocesses|Bloom:Comprehension26.AneffectivevisionstretchesandchallengespeopleandcanresultinincreasedinnovationasillustratedbyApple'sCEOSteveJobs,whowasknowntothinkbiggeranddifferentlythanmostpeople("puttingadentintheuniverse").a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:EasyREFERENCES:19LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:Strategy|Dierdorff&Rubin:Managingdecision-makingprocesses|Bloom:Application27.Organizationalmissionstatementstypicallydonotincludestatementsaboutprofitabilityandearningabove-averagereturns.a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:EasyREFERENCES:19–20LEARNINGOBJECTIVES:STMA.HITT.13.Knowledge-ApplicationNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:Strategy|Dierdorff&Rubin:Managingdecision-makingprocesses|Bloom:Knowledge
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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 11 preview image28.Afirm'smissiontendstobeenduringwhileitsvisioncanchangeinlightofchangingenvironmentalconditions.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:MediumREFERENCES:19LEARNINGOBJECTIVES:STMA.HITT.13.Knowledge-ApplicationNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:LegalResponsibilities|Dierdorff&Rubin:Managingdecision-makingprocesses|Bloom:Knowledge29.Organizationalstakeholdersarethefirm'sinternalresources,capabilities,andcorecompetenciesthatareusedtoaccomplishwhatmayatfirstappeartobeunattainablegoalsinthecompetitiveenvironment.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:EasyREFERENCES:20LEARNINGOBJECTIVES:STMA.HITT.13.Knowledge-ApplicationNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:LegalResponsibilities|Dierdorff&Rubin:Knowledgeofgeneralbusinessfunctions|Bloom:Knowledge30.Thedegreetowhichthefirmisdependentonastakeholdergroupgivesthatstakeholderlessinfluence.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:MediumREFERENCES:20LEARNINGOBJECTIVES:STMA.HITT.13.Comprehension-ComprehensionNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:CreationofValue|Dierdorff&Rubin:Foundationalskills |Bloom:Comprehension
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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 12 preview image31.Relativepoweristhemostcriticalcriterionforprioritizingthedemandsofstakeholders.a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:EasyREFERENCES:21–22LEARNINGOBJECTIVES:STMA.HITT.13.Knowledge-ApplicationNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:EnvironmentalInfluence|Dierdorff&Rubin:Managingthetaskenvironment|Bloom:Knowledge32.Hourlyworkersontheproductionlineofachicken-processingplantareconsideredorganizationalstakeholders.a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:HardREFERENCES:2321(Figure1.4)LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:LegalResponsibilities|Dierdorff&Rubin:Knowledgeofgeneralbusinessfunctions|Bloom:Application33.Customers,suppliers,unions,andlocalgovernmentsareexamplesofcapitalmarketstakeholders.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:HardREFERENCES:22–2321(Figure1.4)LEARNINGOBJECTIVES:STMA.HITT.13.Knowledge-ApplicationNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:LegalResponsibilities|Dierdorff&Rubin:Knowledgeofgeneralbusinessfunctions|Bloom:Knowledge
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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 13 preview image34.Whenthefirmearnslower-than-averagereturns,thehighestpriorityisgiventosatisfyingtheneedsofcapitalmarketstakeholdersovertheneedsofproductmarketandorganizationalshareholders.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:HardREFERENCES:22–23LEARNINGOBJECTIVES:STMA.HITT.13.Comprehension-ComprehensionNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:LegalResponsibilities|Dierdorff&Rubin:Knowledgeofgeneralbusinessfunctions|Bloom:Knowledge35.Sixyearsago,ColetteSmithfoundedasuccessfulcateringcompanythatspecializesinprovidingawideassortmentofminiaturecheesecakesforcorporateandsocialevents.AlthoughMs.Smithisnolongeractiveintheactualproductionofthecheesecakes,shecontinuesaspresidentofthecateringcompany.Ms.Smithcouldbeconsideredastrategicleaderofthisfirm.a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:MediumREFERENCES:23–24LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:LeadershipPrinciples|Dierdorff&Rubin:Learning,motivation,&leadership|Bloom:Application36.Althoughorganizationalculturesvaryconsiderably,onecannotmakeanobjectivejudgmentthatsomeorganizationalculturesaremoreorlessfunctionalthanothers.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:MediumREFERENCES:24LEARNINGOBJECTIVES:STMA.HITT.13.Comprehension-ComprehensionNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:GroupDynamics|Dierdorff&Rubin:Learning,motivation,&leadership|Bloom:Knowledge
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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 14 preview image37.Strategicleadersmusthaveastrongstrategicorientationwhileembracingchangeinthedynamiccompetitivelandscape.a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:EasyREFERENCES:24LEARNINGOBJECTIVES:STMA.HITT.13.Comprehension-ComprehensionNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:LeadershipPrinciples|Dierdorff&Rubin:Learning,motivation,&leadership|Bloom:Comprehension38.Profitpoolsallowstrategicleaderstopredicttheoutcomesoftheirdecisionsbeforetakingeffortstoimplementthem.a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:EasyREFERENCES:25LEARNINGOBJECTIVES:STMA.HITT.13.Comprehension-ComprehensionNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:Strategy|Dierdorff&Rubin:Managingdecision-makingprocesses|Bloom:Comprehension39.Corporate-levelstrategyinadiversifiedorganizationrequiresacommonbusinessstrategyforeachcomponentbusiness.a.Trueb.FalseANSWER:FalsePOINTS:1DIFFICULTY:MediumREFERENCES:26LEARNINGOBJECTIVES:STMA.HITT.13.Comprehension-ComprehensionNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:Strategy|Dierdorff&Rubin:Strategic&systemsskills|Bloom:Comprehension
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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 15 preview image40.Anorganization'swillingnesstotolerateorencourageunethicalbehaviorisareflectionofitscorevalues.a.Trueb.FalseANSWER:TruePOINTS:1DIFFICULTY:MediumREFERENCES:27LEARNINGOBJECTIVES:STMA.HITT.13.Comprehension-ComprehensionNOTES:AACSB:Ethics|Management:EthicalResponsibilities|Dierdorff&Rubin:Managingadministration&control|Bloom:ComprehensionMultipleChoice41.McDonald'shasbeenabletoa.earnabove-averagereturns.b.achievestrategiccompetitiveness.c.usethestrategicmanagementprocess.d.Alloftheseoptionsarecorrect.ANSWER:dPOINTS:1DIFFICULTY:MediumREFERENCES:3-4LEARNINGOBJECTIVES:STMA.HITT.13.-1.4NOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:Strategy|Dierdorff&Rubin:Managingstrategy&innovation|Bloom:Application42.Afirmhasachievedwhenitsuccessfullyformulatesandimplementsavalue-creatingstrategy.a.strategiccompetitivenessb.apermanentlysustainablecompetitiveadvantagec.substantialreturnsd.legalandethicalcorevaluesANSWER:aPOINTS:1DIFFICULTY:EasyREFERENCES:4LEARNINGOBJECTIVES:STMA.HITT.13.Comprehension-ComprehensionNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:Strategy|Dierdorff&Rubin:Strategic&systemsskills|Bloom:Comprehension
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Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank - Page 16 preview image43.Acompetitiveadvantagea.canbepermanentifthefirmhassuccessfullyimplementedthestrategicmanagementprocess.b.entailsreducinginvestors'risktonearzero.c.canbeidentifiedonlyifithasbeenunsuccessfullychallengedbycompetitors.d.existswhencompetingfirmsareunabletofindinvestors.ANSWER:cPOINTS:1DIFFICULTY:HardREFERENCES:5LEARNINGOBJECTIVES:STMA.HITT.13.Comprehension-ComprehensionNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:CreationofValue|Dierdorff&Rubin:Managingstrategy&innovation|Bloom:Comprehension44.Above-averagereturnsarea.higherprofitsthanthefirmearnedthepreviousyear.b.higherprofitsthantheindustryaveragedoverthelast10years.c.profitsinexcessofwhataninvestorexpectstoearnfromahistoricalpatternofperformanceofthefirm.d.returnsinexcessofwhataninvestorexpectstoearnfromotherinvestmentswithasimilarlevelofrisk.ANSWER:dPOINTS:1DIFFICULTY:EasyREFERENCES:5LEARNINGOBJECTIVES:STMA.HITT.13.Knowledge-ApplicationNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:Strategy|Dierdorff&Rubin:Foundationalskills|Bloom:Knowledge45.Thestrategicmanagementprocessisa.asetofactivitiesthatwillassureasustainablecompetitiveadvantageandabove-averagereturnsforthefirm.b.adecision-makingactivityconcernedwithafirm'sinternalresources,capabilities,andcompetencies,independentoftheconditionsinitsexternalenvironment.c.aprocessdirectedbytop-managementwithinputfromotherstakeholdersthatseekstoachieveabove-averagereturnsforinvestorsthrougheffectiveuseoftheorganization'sresources.d.thefullsetofcommitments,decisions,andactionsrequiredforthefirmtoachieveabove-averagereturnsandstrategiccompetitiveness.ANSWER:dPOINTS:1DIFFICULTY:HardREFERENCES:5LEARNINGOBJECTIVES:STMA.HITT.13.Comprehension-ComprehensionNOTES:AACSB:BusinessKnowledge&AnalyticalSkills|Management:Strategy|Dierdorff&Rubin:Strategic&systemsskills|Bloom:Comprehension
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Strategic Management: Concepts And ...

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