Week 1 Strategy Module Quiz - Grant PDF

Quizzes WEEK 1: Strategy module quiz - Grant 1. In an industry the Key Success Factors (KSF) describes: - actors neutralizing competitors - the competitive advantages of the market leader - factors driving growth - what customers want and what a the firm needs to do to surv...

Quizzes WEEK 1: Strategy module quiz - Grant 1. In an industry the Key Success Factors (KSF) describes: - actors neutralizing competitors - the competitive advantages of the market leader - factors driving growth - what customers want and what a the firm needs to do to survive competition - I choose not to answer this question. 2. The CSR concept: - focus on a wider definition of return of investment (Corporate Social Returns) - view the firm as embedded in, and dependent on, an ecosystem it needs to adapt to - view the firm as a donor for social activities (Corporate Support Responsibility) - focus on corporate responsibilities as profits is a distracting “problem” 3. Using product design as a driver of cost advantage means that: - only established product designs available to buy in the market are used - products are designed to ease production and keep production costs low - products are designed to avoid standardized concepts - the design costs are kept low - I choose not to answer this question. 4. 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 are well-informed about the product and the production conditions - the customers have different types of needs - the product is differentiated 5. One major reason to that firms need strategy is? - It provides crucial material to show investors - It is crucial for recruitment - It provides a coherent theme that simplifies decision-making within the firm - It is crucial for legal permissions 6. Stuck-in-the-middle is a problem because: - it is well known that the middle market is always the smallest - it means that sales are stagnated - it is difficult to classify what industry the products are in - it generates a weak position in the market 7. The only sustainable way to make a low cost strategy successful is by: - having the lowest costs in the industry - signaling clearly that this is a low quality product - being the market leader and have the highest volume in the industry - having the lowest prices in the market 8. The only way to make a differentiation strategy successful is by: - Having different outlets to meet the market - Having a unique feature in your product offering - Signaling clearly that this years model is new - Being the market leader and have the highest volume in the industry 9. Competitor analysis will help the company to: - analyze competitors’ value-creating resources - analyze which competitor is the most profitable - neutralize the external forces that drives down profits - foresee competitors strategies, decisions and reactions 10. Sustainable competitive advantage can be generated by: - something else. It is never depending on a particular capability - having access to many different capabilities - having access to at least one unique capability - having access to many different resources 11. The concept of Corporate strategy is about: - how to raise capital for a business - how to grow a business - what industries to compete in? - how to compete within a particular industry 12. In the five forces model, the rivalry between established companies, drives down profitability in the industry if: - there is excess production capacity - there is a lack of production capacity - there is excess capacity from the suppliers - there is a lack of production equipment 13. The concept of “Strategic fit” is about: - the alignment of the business environment and the firm’s resources and capabilities - the alignment of a firm’s strategy and the competitive situation - the alignment of a firm’s strategy and its organizational structure - the alignment of a firm’s products/services and the demand from customers 14. PEST-analysis is useful because it: - describes the macro-environment for a business - describes the profitability situation in an industry - describes profitability situation for a firm - describes the competitive situation in an industry 15. A strategic group analysis identifies: - groups of strategies with government permissions - the joint profit level in a group of companies - strategies that can be shared in the supply chain - a group of companies pursuing a strategy along the same central dimensions 16. The concept of Business strategy is about: - how to choose a business to compete in? - how to grow a business - how to compete within a particular industry - how to raise capital for a business 17. High replicability of a resource or a capability - is a good base to create new resources - is a good base for competitive advantage - is not a good base for creating competitive advantage - is a good base for creating growth 18. A stakeholder approach to the firm implies that: - the owners of the business enterprise never formally approach the company - 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 - the business enterprise needs no governance 19. The value chain is helpful when you: - want to analyze the value delivered from the organization - want to analyze the value creating activities in the organization - want to analyze a chain of event in the company - want to analyze the values expected by customers WEEK 2 - Organizations module quiz - Bolman, Deal 1. Studies have shown that employee participation... - Increases morale but not productivity - Increases neither productivity nor morale - Increases productivity and morale - Increases productivity but not morale 2. The political frame sees organizations as... - Factories - Carnivals - Families - Jungles 3. The political frame emphasizes that organizational goals are... - Mutually agreed upon by the organization’s coalitions. - Set through a process of consensus. - Set by edict at the top of the organization. - Evolved through an ongoing process of negotiation and bargaining. 4. Personal power… - Rests on one’s attractiveness and social adeptness. - Rests on one’s occupation of a position that has legitimate authority. - Rests on the ability to constrain, block, interfere, or punish. - Rests on the ability to rewards such as jobs, money and political support. 5. The symbolic view… - Dictates that structural patterns align with purpose. - Dictates that structural patterns are determined by goals, technologies, and environment. - Approaches structure as stage design. - Depicts the workplace as a formalized network of interdependent roles and units coordinated through a variety of horizontal and vertical linkages. 6. Within the Human Resource frame, the basic image of leadership is: - Advocacy - Empowerment - Social architecture - Inspiration 7. What concept is defined as “the way we do things around here”? - Values - Myth - Metaphor - Culture 8. Stories carry history, values and ___________________. - ritual - group identity - examples - myths 9. 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? - Dual authority - Simple hierarchy - All-channel network - One boss 10. If, as a manager, you encounter an important problem that seems almost impossible to solve; Bolman and Deal would likely suggest that you: - 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. - Try using different lenses to analyze the problem and develop strategies. 11. 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... - Their ability to accurately pick stocks - To provide oversight that puts heat on mangers to serve shareholders’ interest - Their ability to accurately value stocks - To provide insight on organization optimal structure 12. Which of the following structural configurations responds slowly to external change? - The professional bureaucracy - The divisionalized form - The simple structure - The adhocracy 13. As conceptualized by Mintzberg, a simple structure consists of? - 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 loose, flexible, self-renewing organic form tied together mostly through lateral means. - 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. - A strategic apex and an operating level. 14. Bolman and Deal discuss four basic characteristics of organizations that challenge managers. Organizations are: - Complex, surprising, deceptive, ambiguous - Free-flowing, flawed, frenetic, far-flung - Aimless, ambling, awkward, apraxic - Dysfunctional, disappointing, disorganized, demoralizing 15. The primary supporting disciplines for the symbolic frame is: - Anthropology, dramaturgy and institutional theory - Sociology and political science - Anthropology, dramaturgy and political science - Sociology and psychology 16. Which frame is based on the assumption that organizations exist to achieve established goals and objectives, and devise strategies to reach these goals? - The symbolic frame - The human resource frame - The structural frame - The political frame 17. Mary Follett and Elton Mayo argued that - Workers’ skills attitudes, energy, and commitment are vital resources that can make or break an enterprise. - Workers need organizations much more that organizations need workers. - It is the duty of the employee to work hard and follow orders. - Workers rarely work as hard as they should. 18. The political frame emphasizes that organizational goals are... - Set through a process of consensus. - Set by edict at the top of the organization. - Mutually agreed upon by the organization’s coalitions. - Evolved through an ongoing process of negotiation and bargaining. 19. 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. - 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. - Stand out of the way and let someone else work on the issue. 20. The example of United Parcel Service (UPS) was used to illustrate that...? - Formal structure enhances morale if it helps organizational members complete their work - People prefer organizational structures with more choice and latitude  - Loosely structured organizations create environments that enhance innovation - People prefer being controlled by organizations WEEK 3 & 4 - Management control 1. The break-even volume is the point - where the organization shows neither a profit nor a loss. - where the safety margin is adequate. - where fixed costs are equal to the sum of the variable costs. - where total sales start to increase. - I choose not to answer this question. 2. Which statement of the following is false? - The sum of fixed and variable costs is equal to the total sales in the break-even point. - Within a given relevant range, variable cost per unit is unaffected by changes in production volume. - Within a given relevant range, fixed costs are unaffected by changes in production volume. - Within a given relevant range, fixed cost per unit is unaffected by changes in production volume. 3. Accounting fulfills three functions. Which of the ones below is NOT one of them? - Problem solving - Financing - Attention directing - Scorekeeping 4. The main difference between financial and management accounting is - the stakeholders addressed with the accounting information. - that only financial accounting provides information to hold people accountable. - that only management accounting deals with costs - that only financial accounting deals with money. 5. Which of the following statements is false? - 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". - Responsibility centers do not relate to financial performance. 6. By ”control” is meant mainly - preparing the annual report. - the legal authority of decision-making. - the use of information to reach set goals. - reporting the financial status of the organisation. 7. Capital expenditure evaluation is NOT done in one of the following ways:  - the determination of net present value of an investment - identifying the level of financial costs in the income statement - estimating the payback time of an investment - calculating the the residual income in a business unit 8. What of the following statements is false? - Contribution is the sum of a product's selling price and its variable cost. - Contribution is the difference between a product's selling price and its variable cost. - Contribution could be seen as the individual product's gross profit - 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. 9. The balance sheet is balanced - by the profit or loss coming from the income statement. - because shareholders receive dividends. - as the value of the assets is equal to the value of equity and liabilities. - by the net cashflow. 10. When an organization works at full capacity, the analysis of bottleneck throughput may be used for - increasing the cost of capital. - meeting customer demands. - ranking products for prioritization. - decreasing the cost of capital. 11. When following up actual results, deviations from budgeted numbers imply corrective actions. Corrective action is aimed primarily at - maintaining status quo - changing behavior of people in the organisation - holding people accountable - challenging budgeted numbers 12. Cash flow relates directly to the - balance sheet. - income statement. - payments from or to the bank account of the organization. - non-current assets. 13. "Throughput contribution" concerns - reducing the share of non-current assets of total assets in the balance sheet. - making the best use possible of spare capacity. - maximizing the value created from bottleneck resources in an organization. - establishing a relevant break-even point. 14. Budgeting is best described as - a medium-term operational financial plan - a long-term strategic plan - a financial legal obligation - a contract 15. Transfer pricing can be determined in several different ways. Which of these are not a transfer pricing variant? - market price - full cost - share of fixed cost - variable costs only