Week 1: Strategic Positioning and the Strategy Process Quiz PDF

Week 1: Strategic Positioning and the Strategy Process PEST-analysis is useful because it: describes profitability situation for a firm describes the profitability situation in an industry describes the competitive situation in an industry describes the macro-environmen...

Week 1: Strategic Positioning and the Strategy Process PEST-analysis is useful because it: describes profitability situation for a firm describes the profitability situation in an industry describes the competitive situation in an industry describes the macro-environment for a business (correct answer) The value chain is helpful when you: want to analyze the value creating activities in the organization (correct answer) want to analyze the values expected by customers want to analyze a chain of event in the company want to analyze the value delivered from the organization The CSR concept: focuses on corporate responsibilities as profits is a distracting “problem” views the firm as embedded in, and dependent on, an ecosystem it needs to adapt to (correct answer) focuses on a wider definition of return of investment (Corporate Social Returns) views the firm as a donor for social activities (Corporate Support Responsibility) One major reason that firms need strategy is? It provides a coherent theme that simplifies decision-making within the firm (correct answer) It is crucial for recruitment It provides crucial material to show investors It is crucial for legal permissions Using product design as a driver of cost advantage means that: products are designed to ease production and keep production costs low (correct answer) only established product designs available to buy in the market are used the design costs are kept low products are designed to avoid standardized concepts Sustainable competitive advantage can be generated by: having access to many different resources having access to at least one unique capability (correct answer) something else. It is never depending on a particular capability having access to many different capabilities The concept of Corporate strategy is about: how to raise capital for a business how to grow a business  what industries to compete in? (correct answer) how to compete within a particular industry The only sustainable way to make a differentiation strategy successful is by: signaling clearly that this year’s model is new having different outlets to meet the market having a unique feature in your product offering (correct answer) being the market leader and have the highest volume in the industry In an industry, the Key Success Factors (KSF) describe: the competitive advantages of the market leader what customers want and what a firm needs to do to survive competition (correct answer) actors neutralizing competitors factors driving growth Competitor analysis will help the company to: foresee competitors' strategies, decisions and reactions (correct answer) neutralize the external forces that drive down profits analyze competitors’ value-creating resources analyze which competitor is the most profitable The only sustainable way to make a low-cost strategy successful is by: signaling clearly that this is a low-quality product having the lowest prices in the market having the lowest costs in the industry (correct answer) being the market leader and have the highest volume in the industry A stakeholder approach to the firm implies that: the owners of the business enterprise never formally approach the company the business enterprise needs no governance the firm business enterprise represents high stakes for the holders of owners’ rights the business enterprise is viewed as a coalition of interest groups whose needs are to be balanced by top management (correct answer) A strategic group analysis identifies: groups of strategies with government permissions a group of companies pursuing a strategy along the same central dimensions (correct answer) the joint profit level in a group of companies strategies that can be shared in the supply chain High replicability of a resource or a capability: is a good base to create new resources  is a good base for creating growth is a good base for competitive advantage is not a good base for creating competitive advantage (correct answer) The concept of Business strategy is about: how to grow a business how to choose a business to compete in? how to raise capital for a business how to compete within a particular industry (correct answer) Stuck-in-the-middle is a problem because: it is difficult to classify what industry the products are in it means that sales are stagnated it generates a weak position in the market (correct answer) it is well known that the middle market is always the smallest The concept of “Strategic fit” is about: the alignment of a firm’s strategy and its organizational structure the alignment of a firm’s strategy and the competitive situation the alignment of the business environment and the firm’s resources and capabilities the alignment of a firm’s products/services and the demand from customers In the five forces model, the bargaining power of buyers drives down profitability in the industry if: the cost for changing between products is high the customers have different types of needs the product is differentiated the customers are well-informed about the product and the production conditions (correct answer) In the five forces model, the rivalry between established companies drives down profitability in the industry if: there is excess capacity from the suppliers there is excess production capacity (correct answer) there is a lack of production capacity there is a lack of production equipment Week 2: Organization Module Quiz Maslow’s Hierarchy of Needs model: Assumes that lower-level needs must be fulfilled before higher-level needs can be fulfilled (correct answer) Identifies esteem need as the highest human need  Has been scientifically validated Identifies love as the most basic human need What concept is defined as “the way we do things around here”? Culture (correct answer) Metaphor Values Myth The primary supporting disciplines for the symbolic frame is: Anthropology, dramaturgy and institutional theory (correct answer) Anthropology, dramaturgy and political science Sociology and political science Sociology and psychology Mary Follett and Elton Mayo argued that: Workers’ skills, attitudes, energy, and commitment are vital resources that can make or break an enterprise. (correct answer) Workers need organizations much more than organizations need workers. Workers rarely work as hard as they should. It is the duty of the employee to work hard and follow orders. Stories carry history, values and ___________________. Myths Group identity (correct answer) Examples Ritual Which team configuration is extensively used at the White House to free the president to focus on mission and external relations while leaving operational details to the chief of staff? Simple hierarchy One boss All-channel network Dual authority (correct answer) The political frame sees organisations as... Jungles (correct answer) Families Carnivals Factories Personal power... Rests on one’s attractiveness and social adeptness.  Rests on the ability to reward, such as jobs, money, and political support. Rests on one’s occupation of a position that has legitimate authority. Rests on the ability to constrain, block, interfere, or punish. (correct answer) Bolman and Deal discuss four basic characteristics of organizations that challenge managers. Organizations are: Complex, surprising, deceptive, ambiguous (correct answer) Free-flowing, flawed, frenetic, far-flung Aimless, ambling, awkward, apraxic Dysfunctional, disappointing, disorganized, demoralizing If, as a manager, you encounter an important problem that seems almost impossible to solve; Bolman and Deal would likely suggest that you: Try using different lenses to analyze the problem and develop strategies. (correct answer) Stand out of the way and let someone else work on the issue. Call a meeting of everyone who knows about the issue and make a group decision about what to do. Hire a consultant who brings the right knowledge and expertise to the problem. I will continue with the rest of the questions in the following message. Would you like to proceed with this format? 4o mini Du: Yes please ChatGPT: ChatGPT Here is the continuation of the revised list: Week 2: Organization Module Quiz (cont.) Studies have shown that employee participation… Increases productivity and morale (correct answer) Increases morale but not productivity Increases productivity but not morale Increases neither productivity nor morale In “Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure,” Michael Jensen and William Meckling espouse that the primary value of stock analysts is... To provide insight on organization optimal structure Their ability to accurately pick stocks Their ability to accurately value stocks To provide oversight that puts heat on managers to serve shareholders’ interest (correct answer) The example of United Parcel Service (UPS) was used to illustrate that...? People prefer being controlled by organizations Loosely structured organizations create environments that enhance innovation Formal structure enhances morale if it helps organizational members complete their work (correct answer) People prefer organizational structures with more choice and latitude The symbolic view… Dictates that structural patterns align with purpose. Dictates that structural patterns are determined by goals, technologies, and environment. Depicts the workplace as a formalized network of interdependent roles and units coordinated through a variety of horizontal and vertical linkages. Approaches structure as stage design. (correct answer) The political frame emphasizes that organizational goals are... Evolved through an ongoing process of negotiation and bargaining. (correct answer) Set by edict at the top of the organization. Set through a process of consensus. Mutually agreed upon by the organization’s coalitions. As conceptualized by Mintzberg, what does a simple structure consist of? A loose, flexible, self-renewing organic form tied together mostly through lateral means. A strategic apex and an operating level. (correct answer) An operating core that is large relative to its other structural parts and few managerial layers exist between the strategic apex and operating core. A large support staff and a sizeable technostructure, with many layers between the apex and operating levels. Decisions are made at the strategic apex, and day-to-day operations are controlled by managers and standardized procedures. Week 3: Accounting/Management Control The balance sheet is balanced:  as the value of the assets is equal to the value of equity and liabilities. (correct answer) because shareholders receive dividends. by the profit or loss coming from the income statement. by the net cash flow. Which of the following statements is false? Responsibility centers do not relate to financial performance. (correct answer) Responsibility centers apply to controlling the behavior of people. One type of responsibility center is the "profit center." One type of responsibility center is the "cost center." When following up actual results, deviations from budgeted numbers imply corrective actions. Corrective action is aimed primarily at: changing behavior of people in the organization. holding people accountable. challenging budgeted numbers. maintaining status quo. (correct answer) Budgeting is best described as: a medium-term operational financial plan. a financial legal obligation. a contract. a long-term strategic plan. (correct answer) Transfer pricing can be determined in several different ways. Which of these are not a transfer pricing variant? share of fixed cost. full cost. market price. variable costs only. (correct answer) Capital expenditure evaluation is NOT done in one of the following ways: identifying the level of financial costs in the income statement. (correct answer) the determination of net present value of an investment. estimating the payback time of an investment. calculating the residual income in a business unit. Cash flow relates directly to the: payments from or to the bank account of the organization. (correct answer) balance sheet. income statement. non-current assets. When an organization works at full capacity, the analysis of bottleneck throughput may be used for:  ranking products for prioritization. (correct answer) meeting customer demands. decreasing the cost of capital. increasing the cost of capital. Accounting fulfills three functions. Which of the ones below is NOT one of them? Financing Problem solving. (correct answer) Scorekeeping. Attention directing. The main difference between financial and management accounting is: the stakeholders addressed with the accounting information. (correct answer) that only financial accounting provides information to hold people accountable. that only financial accounting deals with money. that only management accounting deals with costs. What of the following statements is false? Contribution is the sum of a product's selling price and its variable cost. (correct answer) The fixed cost divided by the contribution per unit equals the break-even point expressed in volume for the production and sales in an organization. Contribution could be seen as the individual product's gross profit. Contribution is the difference between a product's selling price and its variable cost. Week 4: Marketing Wholesalers and retailers typically intermediate: business channels consumer channels short channels sharing-economy channels I choose not to answer this question. A firm’s marketing mix (4P) consists of all of the following EXCEPT: product place process (correct answer) price Among the different segmentation variables, gender is considered as: psychographic behavioral  geographic demographic (correct answer) Choose the right statement: customer value-based prices are typically lower than break-even prices cost-plus prices are typically higher than customer value-based prices cost-plus prices are typically lower than break-even prices cost-plus prices are typically higher than break-even prices (correct answer) Which is the process of creating a perception in a consumer's mind about the nature of a company and its products relative to competitors? market targeting market differentiation market positioning (correct answer) market segmentation Among the different characteristics affecting consumer behavior, age is considered as: cultural psychological social personal (correct answer) What reflects the amount of goods or services that consumers will purchase at various price levels? demand (correct answer) desires wants needs Cleaning products and standard repair tools are examples of: capital items MRO supplies (correct answer) component materials heavy equipment The extent to which a product is produced according to specifications is referred to as which of the following concepts? aesthetics conformance quality (correct answer) performance quality durability A company that only offers 6 detergents, 2 toothpastes, and 4 paper products has an average product length of:  12 (correct answer) 2 4 6 What is a limitation of television advertising? a. Low appeal to the senses b. Bad mass-marketing coverage c. Less audience selectivity (correct answer) d. High cost per exposure Which category has unique characteristics like variability and perishability? a. Consumer products b. Services (correct answer) c. Industrial goods d. Specialty goods The AMA defines marketing as: a. Only value for clients b. Only value creation c. Only business decisions d. The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (correct answer) When segmenting a market, which category does gender fall under? a. Geographic b. Behavioral c. Psychographic d. demographic (correct answer)