Which of the following is included under the product functional strategies?

Online Exam 7_06

Part 1 of 2 – 50.0/ 50.0 Points

Question 1 of 40
Which of the following is included under the product functional strategies?

A. Supervision

B. Management

C. Marketing

D. Leadership

Question 2 of 40
One of the two strategic decisions most associated with the organization’s information system is:

A. optimum equity mix.

B. creating an approved vendor list.

C. selecting the correct marketing mix.

D. the choice of system technology.

Question 3 of 40
When an organization competes by providing unique products with features that customers value, perceive as different, and are willing to pay a premium price for, it is using a strategy of:

A. cost leadership.

B. focus.

C. differentiation.

D. niche.

Question 4 of 40
Designing which of the following systems involves making sure we have the information we need, when the information is needed, and in the form needed?

A. Marketing

B. Human resources

C. Information

D. Financial-accounting

Question 5 of 40
When an organization hasn’t developed a low cost or a differentiation competitive advantage, it is said to be

A. stuck-in-the-middle.

B. using an integrated strategy.

C. using a strategy of best cost.

D. pursuing a niche-based competitive advantage.

Question 6 of 40
Which are the two biggest factors in marketing?

A. Competitors and pricing

B. Product and competitors

C. Customers and competitors

D. Pricing and customers

Question 7 of 40
The ________ point(s) to the strategic issues organizational decision makers need to address in their pursuit of sustainable competitive advantage and high levels of performance.

A. portfolio analysis

B. distinctive capabilities

C. strengths

D. SWOT analysis

Question 8 of 40
________ strategies are the short-term goal-directed decisions and actions of the organization’s various functional areas.

A. Competitive

B. Coordinating

C. Corporate

D. Functional

Question 9 of 40
When a company builds a profitable business by “stealing” ideas from other successful peers, it is following a(n) ________ strategy.

A. prospector

B. defender

C. analyzer

D. reactor

Question 10 of 40
The ________ strategy is one in which an organization continually innovates by finding and exploiting new product and market opportunities.

A. prospector

B. defender

C. analyzer

D. reactor

Question 11 of 40
Which of the following is NOT one of Miles and Snow’s adaptive strategies?

A. Defender

B. Prospector

C. Cost leader

D. Analyzer

Question 12 of 40
Determining the optimum mix of equity or debt is a decision made by which organizational support process?

A. Financial-accounting systems

B. Corporate governance systems

C. Procurement systems

D. Product development systems

Question 13 of 40
An organization’s ________ strategies reflect its commitment to and treatment of its employees.

A. procurement

B. corporate

C. HR

D. competitive

Question 14 of 40
The ________ strategy is one in which an organization continually innovates by finding and exploiting new product and market opportunities.

A. prospector

B. defender

C. analyzer

D. reactor

Question 15 of 40
The two main support processes in an organization are:

A. production systems and marketing systems.

B. procurement systems and HR systems.

C. financial accounting systems and HR systems.

D. information systems and financial accounting systems.

Question 16 of 40
The ________ works hard to establish brand loyalty.

A. differentiator

B. cost leader

C. defender

D. reactor

Question 17 of 40
________ refer(s) to the process of creating and providing goods and services.

A. Marketing

B. Production-operations

C. High-performance work practices

D. Information system

Question 18 of 40
In Porter’s cost leadership strategy, the main goal of the cost leader is to have the lowest ________ in the industry.

A. profits

B. prices

C. costs

D. products

Question 19 of 40
________ is when organizations battle or vie for some desired object or outcome.

A. Competition

B. Strategy

C. Goal

D. Objective

Question 20 of 40
If Mr. Carol wanted to introduce high-performance work practices in his organization, which of the following practices would he adopt?

A. Centralized decision making

B. Fixed job assignments

C. Limited communication

D. Self-managed work teams

Part 2 of 2 – 47.5/ 50.0 Points

Question 21 of 40
Both the product-market evolution and McKinsey matrices have the disadvantage of:

A. simplicity.

B. complexity.

C. individuality.

D. subjectivity.

Question 22 of 40
All of the following are reflective of restructuring efforts except:

A. spin-off.

B. liquidation.

C. reengineering.

D. cost cutting.

Question 23 of 40
Developing different uses for a product is an example of a ________ concentration option.

A. product-market diversification.

B. market development

C. product-market exploitation

D. product development

Question 24 of 40
Cash flows from cash cows should be used to support:

A. question marks.

B. stars.

C. dogs.

D. question marks and stars.

Question 25 of 40
For corporate growth strategies, the options for implementation are:

A. diversification, concentration, and international.

B. mergers/acquisitions, internal development, and strategic partnering.

C. cost leadership, differentiation, and focus.

D. offensive, defensive, and concentration.

Question 26 of 40
A business unit with low relative market share and low industry growth rate is referred to as a:

A. dog.

B. cash cow.

C. cat.

D. question mark.

Question 27 of 40
Mr. Wilson is thinking about concentrating on his primary line of business, Italian furniture, and looking for ways to meet its growth goals by expanding its core business. Which of the below strategies is Mr. Wilson following here?

A. International

B. Vertical integration

C. Diversification

D. Concentration

Question 28 of 40
A company like PepsiCo, with a number of business units such as snack foods, beverages, and prepared foods, is referred to as a:

A. single-business organization.

B. multiple-business organization.

C. multiple-line organization.

D. multiple-function organization.

Question 29 of 40
A legal transaction in which two or more organizations combine operations through an exchange of stock is called a(n):

A. acquisition.

B. merger.

C. takeover.

D. repurchase.

Question 30 of 40
Starting a business from the ground up is referred to as:

A. product development.

B. market development.

C. strategic development.

D. internal development.

Question 31 of 40
The types of renewal strategies include:

A. retrenchment strategy.

B. turnaround strategy.

C. diversification strategy.

D. retrenchment and turnaround strategies.

Question 32 of 40
Examples of portfolio analyses include:

A. the BCG matrix.

B. the McKinsey-GE stoplight matrix.

C. the product-market evolution matrix.

D. All of the answer choices are correct.

Question 33 of 40
The organization’s ability to complete or reach goals is referred to as:

A. efficiency.

B. effectiveness.

C. productivity.

D. stability.

Question 34 of 40
________ are usually “friendly.”

A. Mergers

B. Acquisitions

C. Takeovers

D. Buyouts

Question 35 of 40
A long-term contract is usually an agreement between:

A. two organizations in the same industry.

B. an organization and its suppliers.

C. two organizations in unrelated industries.

D. a domestic and international organization.

Question 36 of 40
When an organization remains with its core industry, this is an example of a ________ strategy.

A. concentration

B. forward integration

C. backward integration

D. horizontal integration

Question 37 of 40
Mr. Wilson, a successful importer of Italian furniture, is considering combining operations by exchanging stock with a competitor, Italian Delights, to create a new store, Supremo Italiano. Which of the following growth strategies is Mr. Wilson following here?

A. Merger

B. Acquisition

C. Hostile takeover

D. Internal development

Question 38 of 40
Related diversification is ________ unrelated diversification.

A. less effective than

B. more effective than

C. just as effective as

D. less profitable than

Question 39 of 40
Which of the following is a type of strategic partnering?

A. Licensing

B. Exporting

C. Joint venture

D. Direct investment

Question 40 of 40
The _______ strategy establishes the overall direction that the organization hopes to go.

A. business

B. functional

C. corporate

D. competitive