Skip to content
Exam Guides

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

Ace your test with Strategic Management: Concepts and Cases: Competitiveness and Globalization, 11th Edition Test Bank, offering exam-focused study material, expert guidance, and practice questions.

Preview 16 of 670 pages

See the first 16 pages exactly as they appear in the document.

  1. Page 1
    Read page 1 as text

    Tru e / False 1. Strategi c competitivenes s i s achieve d whe n a fir m successfull y formulate s an d implement s a value - creating strategy. a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Easy REFERENCES: 4 LEARNING OBJECTIVES: STMA.HITT.15.01.0 1 - 01.01 NATIONAL STANDARDS: Unite d State s - BUSPRO G Reflective STAT E STANDARDS : Unite d State s - A K - DISC : Strategy KEYWORDS: Bloom's : Knowledge NOTES : AACSB : Analyti c | DISC : Strateg y | Bloom : Knowledge 2. Alligato r Enterprise s ha s earne d above - averag e return s sinc e it s foundin g fiv e year s ago . Sinc e n o othe r fir m has challenge d Alligato r i n it s particula r marke t niche , th e firm' s owner s ca n fee l secur e tha t Alligato r ha s establishe d a competitiv e advantage. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Hard REFERENCES: 5 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NATIONAL STANDARDS: Unite d State s - BUSPRO G Reflective STAT E STANDARDS : Unite d State s - A K - DISC : Strategy KEYWORDS: Bloom's : Application NOTES : AACSB : Analyti c | DISC : Strateg y | Bloom : Application 3. Th e goa l o f strategi c managemen t i s t o develo p a competitiv e advantag e tha t i s permanent. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Medium REFERENCES: 5 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NATIONAL STANDARDS: Unite d State s - BUSPRO G Reflective STAT E STANDARDS : Unite d State s - A K - DISC : Strategy KEYWORDS: Bloom's : Knowledge NOTES : AACSB : Reflectiv e Thinkin g | DISC : Strateg y | Bloom : Comprehension

  2. Page 2
  3. Page 3
    Read page 3 as text

    4. Ris k i n term s o f financia l return s reflect s a n investor' s uncertaint y abou t economi c gain s o r losse s tha t wil l result fro m a particula r investment. a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Easy REFERENCES: 5 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NATIONAL STANDARDS: Unite d State s - BUSPRO G Reflective STAT E STANDARDS : Unite d State s - A K - DISC : Strategy KEYWORDS: Bloom's : Knowledge NOTES : AACSB : Analyti c | DISC : Strateg y | Bloom : Knowledge 5. Averag e return s ar e return s i n exces s o f wha t a n investo r expect s t o ear n fro m othe r investment s wit h a similar amoun t o f risk. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Medium REFERENCES: 5 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NATIONAL STANDARDS: Unite d State s - BUSPRO G Reflective STAT E STANDARDS : Unite d State s - A K - DISC : Strategy KEYWORDS: Bloom's : Knowledge NOTES : AACSB : Analyti c | DISC : Strateg y | Bloom : Knowledge 6. Return s ca n onl y b e measure d i n accountin g term s suc h a s retur n o n assets , retur n o n equity , o r retur n o n sales. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Easy REFERENCES: 5 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NATIONAL STANDARDS: Unite d State s - BUSPRO G Reflective STAT E STANDARDS : Unite d State s - A K - DISC : Strategy KEYWORDS: Bloom's : Knowledge NOTES : AACSB : Analyti c | DISC : Strateg y | Bloom : Knowledge

  4. Page 4
    Read page 4 as text

    7. Economie s o f scal e an d hug e advertisin g budget s ar e jus t a s effectiv e i n th e ne w competitiv e landscap e a s they wer e i n th e past , bu t the y mus t b e reinforce d b y strategi c flexibility. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Hard REFERENCES: 7 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NATIONAL STANDARDS: Unite d State s - BUSPRO G Reflective STAT E STANDARDS : Unite d State s - A K - DISC : Strategy KEYWORDS: Bloom's : Knowledge NOTES : AACSB : Analyti c | DISC : Strateg y | Bloom : Knowledge 8. Th e tw o primar y driver s o f hypercompetitio n ar e th e emergenc e o f th e globa l econom y an d technology. a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Easy REFERENCES: 8 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NATIONAL STANDARDS: Unite d State s - BUSPRO G Technology STAT E STANDARDS : Unite d State s - A K - DISC : Strategy KEYWORDS: Bloom's : Knowledge NOTES : AACSB : Analyti c | DISC : Strateg y | Bloom : Knowledge 9. Th e rat e o f technolog y diffusio n ha s bee n steadil y increasin g ove r th e las t tw o decades. a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Easy REFERENCES: 11 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NATIONAL STANDARDS: Unite d State s - BUSPRO G Technology STAT E STANDARDS : Unite d State s - N J - DISC : - Informatio n Technologies Unite d State s - A K - DISC : Motivatio n Concept s - Motivatio n Concepts KEYWORDS: Bloom's : Knowledge NOTES : AACSB : Technolog y | DISC : Informatio n Technologie s | Bloom : Knowledge

  5. Page 5
    Read page 5 as text

    10 . Whil e patent s ma y b e a n effectiv e wa y o f protectin g proprietar y technolog y i n som e industrie s suc h as pharmaceuticals , man y firm s competin g i n th e electronic s industr y d o no t appl y fo r patents. a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Medium REFERENCES: 11 – 12 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NATIONAL STANDARDS: Unite d State s - BUSPRO G Technology STAT E STANDARDS : Unite d State s - A K - DISC : Motivatio n Concept s - Motivatio n Concepts KEYWORDS: Bloom's : Application NOTES : AACSB : Technolog y | DISC:Informatio n Technologie s | Bloom : Application 11 . Example s o f incrementa l innovation s includ e iPods , PDAs , Wi - Fi , an d we b browse r software. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Medium REFERENCES: 12 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NATIONAL STANDARDS: Unite d State s - BUSPRO G Technology STAT E STANDARDS : Unite d State s - A K - DISC : Motivatio n Concept s - Motivatio n Concepts KEYWORDS: Bloom's : Application NOTES : AACSB : Technolog y | DISC:Informatio n Technologie s | Bloom : Application 12 . Th e rapi d rat e o f technologica l diffusio n ha s increase d th e competitiv e benefit s o f patents. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Medium REFERENCES: 11 – 12 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NATIONAL STANDARDS: Unite d State s - BUSPRO G Technology KEYWORDS: Bloom's : Knowledge NOTES : AACSB : Technolog y | DISC:Informatio n Technologie s | Bloom : Comprehension

  6. Page 6
    Read page 6 as text

    13 . Develope d countrie s stil l hav e majo r advantage s i n acces s t o informatio n technolog y ove r emergin g economies becaus e o f th e significan t cos t o f th e infrastructur e neede d fo r computin g power. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Hard REFERENCES: 12 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NATIONAL STANDARDS: Unite d State s - BUSPRO G Technology KEYWORDS: Bloom's : Knowledge NOTES : AACSB : Technolog y | DISC:Informatio n Technologie s | Bloom : Knowledge 14 . Th e rat e o f growt h o f Internet - base d application s coul d b e affecte d b y th e possibilit y o f Interne t servic e providers chargin g user s fo r downloadin g thos e applications. a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Medium REFERENCES: 13 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NATIONAL STANDARDS: Unite d State s - BUSPRO G Technology KEYWORDS: Bloom's : Knowledge NOTES : AACSB : Technolog y | DISC:Informatio n Technologie s | Bloom : Comprehension 15 . Th e ne w CE O o f Opacit y Enterprise s i s determine d t o mak e th e long - establishe d fir m strategicall y flexible . The CE O feel s tha t th e employee s o f th e compan y hav e th e ability , training , an d resource s t o engag e i n continuous learning . Th e mai n obstacl e th e CE O mus t fac e i s inertia. a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Medium REFERENCES: 13 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NATIONAL STANDARDS: Unite d State s - BUSPRO G Technology KEYWORDS: Bloom's : Application NOTES : AACSB : Technolog y | DISC:Informatio n Technologie s | Bloom : Application

  7. Page 7
    Read page 7 as text

    16 . Th e I/ O (industria l organization ) mode l assume s tha t th e uniquenes s o f a firm' s resource s an d capabilitie s i s it s main source of above - average returns. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Medium REFERENCES: 14 LEARNING OBJECTIVES: STMA.HITT.13.Comprehensio n - Comprehension NATIONAL STANDARDS: Unite d State s - BUSPRO G Reflective KEYWORDS: Bloom's : Knowledge NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Environmental Influenc e | Dierdorf f & Rubin : Strategi c & system s skill s | Bloom : Comprehension 17 . Th e CE O o f Twi n Spires , Inc. , i s emotionall y an d intellectuall y committe d t o usin g th e resource s o f th e fir m to serv e th e need s o f th e natura l gardenin g communit y b y providin g rar e an d nativ e plant s t o individual s an d nurseries aroun d th e Unite d States . Thi s commitmen t ha s carrie d th e CE O throug h lon g period s o f below - averag e return s on investment . Th e perspectiv e o f th e CE O o f Twi n Spire s i s consisten t wit h th e assumption s o f th e industrial organizatio n (I/O ) model. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Hard REFERENCES: 14 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NATIONAL STANDARDS: Unite d State s - BUSPRO G Reflective KEYWORDS: Bloom's : Application NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Environmental Influenc e | Dierdorf f & Rubin : Strategi c & system s skill s | Bloom : Application 18 . Althoug h th e fas t foo d (o r quick - service ) industr y i s unattractive , McDonald' s ha s earne d above - averag e returns throug h produc t innovations , enhancin g existin g facilities , an d buyin g propertie s outsid e th e Unite d States. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Easy REFERENCES: 14 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 KEYWORDS: Bloom's : Application NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Environmental Influenc e | Dierdorf f & Rubin : Managin g th e tas k environmen t | Bloom : Application

  8. Page 8
    Read page 8 as text

    19 . Th e fiv e force s mode l suggest s tha t firm s shoul d targe t th e industr y wit h th e highes t potentia l fo r above - average return s an d the n implemen t eithe r a cost - leadershi p strateg y o r a differentiatio n strategy. a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Hard REFERENCES: 14 LEARNING OBJECTIVES: STMA.HITT.13.Knowledg e - Application KEYWORDS: Bloom's : Application NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Environmental Influenc e | Dierdorf f & Rubin : Managin g th e tas k environmen t | Bloom : Knowledge 20 . Th e uniquenes s o f a firm' s resource s an d capabilitie s i s th e basi s fo r a firm' s strateg y an d determine s it s abilit y to ear n above - averag e return s unde r th e I/ O view. a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Medium REFERENCES: 17 LEARNING OBJECTIVES: STMA.HITT.15.01.0 4 - 01.04 NATIONAL STANDARDS: Unite d State s - BUSPROG : Analytic STAT E STANDARDS : Unite d State s - A K - DISC : Motivatio n Concept s - Motivatio n Concepts KEYWORDS: Bloom's : Comprehension 21 . Researc h show s tha t a greate r percentag e o f a firm' s profitabilit y i s explaine d b y th e I/ O rathe r tha n th e resource - base d model. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Medium REFERENCES: 17 LEARNING OBJECTIVES: STMA.HITT.15.01.0 4 - 01.04 NATIONAL STANDARDS: Unite d State s - BUSPROG : Analytic STAT E STANDARDS : Unite d State s - A K - DISC : Motivatio n Concept s - Motivatio n Concepts KEYWORDS: Bloom's : Comprehension NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Strateg y | Dierdorff & Rubin : Managin g th e tas k environmen t | Bloom : Comprehension

  9. Page 9
    Read page 9 as text

    22 . Th e resource - base d mode l assume s tha t i f firm s hav e resource s tha t ar e rar e o r costl y t o imitate , thi s i s sufficien t to for m a basi s fo r competitiv e advantage. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Hard REFERENCES: 17 – 18 LEARNING OBJECTIVES: STMA.HITT.15.01.0 4 - 01.04 NATIONAL STANDARDS: Unite d State s - BUSPROG : Analytic STAT E STANDARDS : Unite d State s - A K - DISC : Motivatio n Concept s - Motivatio n Concepts KEYWORDS: Bloom's : Comprehension 23 . Resource s ar e considere d rar e whe n the y hav e n o structura l equivalent. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Medium REFERENCES: 17 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Strateg y | Dierdorff & Rubin : Managin g strateg y & innovatio n | Bloom : Knowledge 24 . Th e assumption s o f th e industria l organizatio n mode l an d th e resource - base d mode l ar e contradictory . Therefore, organizationa l strategist s mus t choos e on e o r th e othe r mode l a s th e basi s fo r developin g a strategi c plan. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Medium REFERENCES: 17 LEARNING OBJECTIVES: STMA.HITT.13.Comprehensio n - Comprehension NATIONAL STANDARDS: Unite d State s - BUSPROG : Analytic NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Strateg y | Dierdorff & Rubin : Managin g strateg y & innovatio n | Bloom : Comprehension

  10. Page 10
    Read page 10 as text

    25 . A n effectiv e visio n statemen t wil l specif y th e marke t t o b e served. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Easy REFERENCES: 19 LEARNING OBJECTIVES: STMA.HITT.13.Comprehensio n - Comprehension NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Strateg y | Dierdorff & Rubin : Managin g decision - makin g processe s | Bloom : Comprehension 26 . A n effectiv e visio n stretche s an d challenge s peopl e an d ca n resul t i n increase d innovatio n a s illustrate d b y Apple's CE O Stev e Jobs , wh o wa s know n t o thin k bigge r an d differentl y tha n mos t peopl e ("puttin g a den t i n th e universe"). a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Easy REFERENCES: 19 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Strateg y | Dierdorff & Rubin : Managin g decision - makin g processe s | Bloom : Application 27 . Organizationa l missio n statement s typicall y d o no t includ e statement s abou t profitabilit y an d earnin g above - average returns. a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Easy REFERENCES: 19 – 20 LEARNING OBJECTIVES: STMA.HITT.13.Knowledg e - Application NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Strateg y | Dierdorff & Rubin : Managin g decision - makin g processe s | Bloom : Knowledge

  11. Page 11
    Read page 11 as text

    28 . A firm' s missio n tend s t o b e endurin g whil e it s visio n ca n chang e i n ligh t o f changin g environmenta l conditions. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Medium REFERENCES: 19 LEARNING OBJECTIVES: STMA.HITT.13.Knowledg e - Application NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Legal Responsibilitie s | Dierdorf f & Rubin : Managin g decision - makin g processe s | Bloom: Knowledge 29 . Organizationa l stakeholder s ar e th e firm' s interna l resources , capabilities , an d cor e competencie s tha t ar e use d to accomplis h wha t ma y a t firs t appea r t o b e unattainabl e goal s i n th e competitiv e environment. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Easy REFERENCES: 20 LEARNING OBJECTIVES: STMA.HITT.13.Knowledg e - Application NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Legal Responsibilitie s | Dierdorf f & Rubin : Knowledg e o f genera l busines s function s | Bloom : Knowledge 30 . Th e degre e t o whic h th e fir m i s dependen t o n a stakeholde r grou p give s tha t stakeholde r les s influence. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Medium REFERENCES: 20 LEARNING OBJECTIVES: STMA.HITT.13.Comprehensio n - Comprehension NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Creatio n o f Valu e | Dierdorf f & Rubin : Foundationa l skill s | Bloom : Comprehension

  12. Page 12
    Read page 12 as text

    31 . Relativ e powe r i s th e mos t critica l criterio n fo r prioritizin g th e demand s o f stakeholders. a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Easy REFERENCES: 21 – 22 LEARNING OBJECTIVES: STMA.HITT.13.Knowledg e - Application NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Environmental Influenc e | Dierdorf f & Rubin : Managin g th e tas k environmen t | Bloom : Knowledge 32 . Hourl y worker s o n th e productio n lin e o f a chicken - processin g plan t ar e considere d organizationa l stakeholders. a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Hard REFERENCES: 23 2 1 (Figur e 1.4) LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Legal Responsibilitie s | Dierdorf f & Rubin : Knowledg e o f genera l busines s function s | Bloom : Application 33 . Customers , suppliers , unions , an d loca l government s ar e example s o f capita l marke t stakeholders. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Hard REFERENCES: 22 – 23 2 1 (Figur e 1.4) LEARNING OBJECTIVES: STMA.HITT.13.Knowledg e - Application NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Legal Responsibilitie s | Dierdorf f & Rubin : Knowledg e o f genera l busines s function s | Bloom : Knowledge

  13. Page 13
    Read page 13 as text

    34 . Whe n th e fir m earn s lower - than - averag e returns , th e highes t priorit y i s give n t o satisfyin g th e need s o f capital marke t stakeholder s ove r th e need s o f produc t marke t an d organizationa l shareholders. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Hard REFERENCES: 22 – 23 LEARNING OBJECTIVES: STMA.HITT.13.Comprehensio n - Comprehension NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Legal Responsibilitie s | Dierdorf f & Rubin : Knowledg e o f genera l busines s function s | Bloom : Knowledge 35 . Si x year s ago , Colett e Smit h founde d a successfu l caterin g compan y tha t specialize s i n providin g a wid e assortment o f miniatur e cheesecake s fo r corporat e an d socia l events . Althoug h Ms . Smit h i s n o longe r activ e i n th e actual productio n o f th e cheesecakes , sh e continue s a s presiden t o f th e caterin g company . Ms . Smit h coul d b e considered a strategi c leade r o f thi s firm. a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Medium REFERENCES: 23 – 24 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Leadership Principle s | Dierdorf f & Rubin : Learning , motivation , & leadershi p | Bloom: Application 36 . Althoug h organizationa l culture s var y considerably , on e canno t mak e a n objectiv e judgmen t tha t som e organizational culture s ar e mor e o r les s functiona l tha n others. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Medium REFERENCES: 24 LEARNING OBJECTIVES: STMA.HITT.13.Comprehensio n - Comprehension NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Grou p Dynamic s | Dierdorf f & Rubin : Learning , motivation , & leadershi p | Bloom : Knowledge

  14. Page 14
    Read page 14 as text

    37 . Strategi c leader s mus t hav e a stron g strategi c orientatio n whil e embracin g chang e i n th e dynami c competitive landscape. a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Easy REFERENCES: 24 LEARNING OBJECTIVES: STMA.HITT.13.Comprehensio n - Comprehension NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Leadership Principle s | Dierdorf f & Rubin : Learning , motivation , & leadershi p | Bloom: Comprehension 38 . Profi t pool s allo w strategi c leader s t o predic t th e outcome s o f thei r decision s befor e takin g effort s t o implement them. a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Easy REFERENCES: 25 LEARNING OBJECTIVES: STMA.HITT.13.Comprehensio n - Comprehension NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Strateg y | Dierdorff & Rubin : Managin g decision - makin g processe s | Bloom : Comprehension 39 . Corporate - leve l strateg y i n a diversifie d organizatio n require s a commo n busines s strateg y fo r eac h component business. a . True b. False ANSWER: False POINTS : 1 DIFFICULTY : Medium REFERENCES: 26 LEARNING OBJECTIVES: STMA.HITT.13.Comprehensio n - Comprehension NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Strateg y | Dierdorff & Rubin : Strategi c & system s skill s | Bloom : Comprehension

  15. Page 15
    Read page 15 as text

    40 . A n organization' s willingnes s t o tolerat e o r encourag e unethica l behavio r i s a reflectio n o f it s cor e values. a . True b. False ANSWER: True POINTS : 1 DIFFICULTY : Medium REFERENCES: 27 LEARNING OBJECTIVES: STMA.HITT.13.Comprehensio n - Comprehension NOTES : AACSB : Ethic s | Management : Ethica l Responsibilitie s | Dierdorf f & Rubin: Managin g administratio n & contro l | Bloom : Comprehension Multipl e Choice 41 . McDonald' s ha s bee n abl e to a . earn above - average returns. b. achiev e strategi c competitiveness. c . us e th e strategi c managemen t process. d. Al l o f thes e option s ar e correct. ANSWER: d POINTS : 1 DIFFICULTY : Medium REFERENCES: 3 - 4 LEARNING OBJECTIVES: STMA.HITT.13 . - 1.4 NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Strateg y | Dierdorff & Rubin : Managin g strateg y & innovatio n | Bloom : Application 42 . A fir m ha s achieve d whe n i t successfull y formulate s an d implement s a value - creatin g strategy. a . strategi c competitiveness b. a permanentl y sustainabl e competitiv e advantage c . substantia l returns d. lega l an d ethica l cor e values ANSWER: a POINTS : 1 DIFFICULTY : Easy REFERENCES: 4 LEARNING OBJECTIVES: STMA.HITT.13.Comprehensio n - Comprehension NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Strateg y | Dierdorff & Rubin : Strategi c & system s skill s | Bloom : Comprehension

  16. Page 16
    Read page 16 as text

    43 . A competitiv e advantage a . ca n b e permanen t i f th e fir m ha s successfull y implemente d th e strategi c managemen t process. b. entail s reducin g investors ' ris k t o nea r zero. c . ca n b e identifie d onl y i f i t ha s bee n unsuccessfull y challenge d b y competitors. d. exist s whe n competin g firm s ar e unabl e t o fin d investors. ANSWER: c POINTS : 1 DIFFICULTY : Hard REFERENCES: 5 LEARNING OBJECTIVES: STMA.HITT.13.Comprehensio n - Comprehension NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Creatio n o f Valu e | Dierdorf f & Rubin : Managin g strateg y & innovatio n | Bloom : Comprehension 44 . Above - average returns are a . highe r profit s tha n th e fir m earne d th e previou s year. b. highe r profit s tha n th e industr y average d ove r th e las t 1 0 years. c . profit s i n exces s o f wha t a n investo r expect s t o ear n fro m a historica l patter n o f performanc e o f th e firm. d. return s i n exces s o f wha t a n investo r expect s t o ear n fro m othe r investment s wit h a simila r leve l o f risk. ANSWER: d POINTS : 1 DIFFICULTY : Easy REFERENCES: 5 LEARNING OBJECTIVES: STMA.HITT.13.Knowledg e - Application NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Strateg y | Dierdorff & Rubin : Foundationa l skill s | Bloom : Knowledge 45 . Th e strategi c managemen t proces s is a . a se t o f activitie s tha t wil l assur e a sustainabl e competitiv e advantag e an d above - averag e return s fo r the firm. b. a decision - makin g activit y concerne d wit h a firm' s interna l resources , capabilities , an d competencies, independen t o f th e condition s i n it s externa l environment. c . a proces s directe d b y top - managemen t wit h inpu t fro m othe r stakeholder s tha t seek s t o achiev e above - averag e return s fo r investor s throug h effectiv e us e o f th e organization' s resources. d. th e ful l se t o f commitments , decisions , an d action s require d fo r th e fir m t o achiev e above - averag e returns an d strategi c competitiveness. ANSWER: d POINTS : 1 DIFFICULTY : Hard REFERENCES: 5 LEARNING OBJECTIVES: STMA.HITT.13.Comprehensio n - Comprehension NOTES : AACSB : Busines s Knowledg e & Analytica l Skill s | Management : Strateg y | Dierdorff & Rubin : Strategi c & system s skill s | Bloom : Comprehension

654 more pages in the full document

Unlock it once and it stays in your library, ready to chat with or turn into flashcards.

Unlock the full document

More Business Management study materials

See all

Study this document with CramX

Once it is in your library, every tool can work from it.