Capstone 1

100 Questions  I  By Jprohoroff
Midterm 1 study guide

  
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1.   Functional managers
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2.  An important first step in the process of formulating a company's mission is to
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3.  The primary goal of a SWOT analysis is to
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4.  A component of strategy implementation is
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5.  The strategies that a company's managers pursue
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6.  A sustained competitive advantage
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7.  Scenario-based planning is a technique for coping with the problem of
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8.  Aaron planned to cut prices at his bicycle shop, but when a competing shop began to offer free repairs, Aaron decided to copy them. Aaron's new strategy (offer free repairs) is an example of a(n)
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9.  The fit model of strategy formulation and implementation
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10.  The role of corporate-level managers is to
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11.  Which of the following is not a characteristic of emotional intelligence?
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12.  A company's mission
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13.  Holly owns a landscape company and is thinking about expanding her services to include outdoor water features (waterfalls, streams, ponds). If, before making this decision, she looks at the experience of similar firms that have added outdoor water features, she is employing
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14.  A competitive advantage is considered to be a sustained competitive advantage when the
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15.  The scenario approach to strategic planning involves
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16.  General managers are found
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17.  Devil's advocacy
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18.  Systematic errors in the decision-making process are caused by
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19.  Sam Walton wanted Wal-Mart to keep costs low. Therefore, as an example to others, he drove his own car and furnished his office with plain, steel desks. In this case, Mr. Walton was displaying his
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20.  Which of the following is not a cognitive bias?
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21.  Profit growth is best measured
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22.  Maximizing shareholder value is
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23.  Vice President Chung is responsible for executing decisions about human resources. Mr. Chung is
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24.  An emergent strategy is
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25.  Strategic implementation involves
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26.  Jeffrey Pfeffer believes that a manager's political power comes from his or her control over
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27.  The first step in the strategic management process is to
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28.  Strategy formulation refers to the
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29.  Competition from industry to industry
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30.  In the typical scenario planning exercise,
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31.  Well-constructed goals should
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32.  Which of the following cognitive biases occurs when decisionmakers commit even more resources if they receive feedback that the project is failing?
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33.  Which of the following is the organization's principal general manager?
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34.  Feelings of personal responsibility for a project are most likely to lead to
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35.  Strategic leadership is about
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36.  An effective business model
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37.  Good strategic leaders
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38.  Betsy Holden is the head of Kraft Foods, a division of the Philip Morris Company. Which of the following is not likely to be one of Ms. Holden's responsibilities?
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39.  Matching an organization's structure and control systems to the requirements of a company's strategy is
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40.  Within a diversified company, the responsibilities of corporate-level strategic managers include
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41.  Due to a recent relaxation in pollution standards, Ford Motors is withdrawing its electric-powered cars from sales in the U.S. market. Ford is responding to a change in which of the following macroenvironmental forces?
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42.  The extent of rivalry among established companies is lowest when
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43.  Which of the following is not one of the factors in the economic forces of the macroenvironment?
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44.  The bargaining power of an industry's suppliers is greater when
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45.  Which of the following industry structures consists of a large number of small and medium-sized companies, none of which is in a position to determine industry price?
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46.  Which of the following is not one of Porter's five forces, as proposed in his original model?
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47.  A market segment is a group of
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48.  Julian is asked to examine the demographic environment facing his employer, a clothing manufacturer. Which of the following should Julian examine?
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49.  Economies of scale may arise from
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50.  Which of the following industry structures is dominated by a small number of large companies?
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51.  Entry barriers in the embryonic stage are frequently based on
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52.  Growth industries
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53.  In which of the following arenas would Wal-Mart's Sam's Club stores compete against their closest, most intense rivals?
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54.  Switching costs may arise when
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55.  The risk of a price war is greatest in which of the following circumstances?
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56.  Mobility barriers
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57.  The competitive force of substitute products tends to be stronger when
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58.  As an industry enters the shakeout stage,
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59.  The industry life cycle model includes which of the following stages?
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60.  As a barrier to new entry, absolute cost advantages can be based on
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61.  The threat from new entrants is greatest in the _________ stage of the industry life cycle.
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62.  A group of firms all make writing implements—pens, pencils, and markers. This group should be referred to as a(n)
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63.  Historically, government reputation has
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64.  What is the impact of shifting industry boundaries on firms within the industry?
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65.  Demand reaches total saturation in the ___________ stage of the industry life cycle.
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66.  Brand loyalty may be created by
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67.  Which of the following is currently an embryonic industry?
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68.  Which of the following is not a determinant of the extent of rivalry among established companies?
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69.  The competitive structure of an industry refers to the
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70.  An industry can be defined as a group of
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71.  Members of a strategic group
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72.  In growth industries,
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73.  Sales of complementors' products tend to
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74.  If economies of scale are an industry's primary entry barrier, a new entrant's major risk is
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75.  Cosmetics makers focus on the unique needs of customers of different ages. The cosmetics makers recognize the importance of
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76.  Beverage makers are finding that water sales are increasing due to consumers' preferences for healthy drinks. Which part of the macroenvironment does this represent?
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77.  Which of the following is not a force within the macroenvironment?
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78.  Rivalry refers to
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79.  Eventually most industries enter a decline stage where
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80.  United Airlines, Amtrak, and Greyhound are all companies in the transportation
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81.  One of the most widely used measures of financial performance is
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82.  Capabilities are a company's
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83.  When companies find it hard to change their strategies and structures to adapt to changing competitive conditions, they suffer from
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84.  Cost accountants are responsible for gathering and monitoring data used for controlling the organization's costs. Cost accountants work in which value chain activity?
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85.  Dale's horseshoeing methods save time and money for his employer, but when Dale suggests that everyone use his method, his boss says, “No. That's not the way we've always done it around here.” Dale's employer is suffering from
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86.  The four basic building blocks of competitive advantage are
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87.  ___________ can help an organization overcome inertia.
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88.  Competitive advantage is based on
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89.  A product can be thought of as a(n)
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90.  When Rollie's car wash began to lose business to rivals, Rollie read publications for car wash owners to learn the best practices in the industry. Then she implemented the best practices. Rollie is using __________ to improve her car wash.
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91.  A company may find it difficult to change capabilities because of
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92.  The term value chain refers to the idea that a company is
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93.  Resources
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94.  Which of the following factors does not determine the durability of a company's competitive advantage?
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95.  Mike works as a corporate trainer, teaching new employees how to perform manufacturing tasks. Mike works in which value chain activity?
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96.  Ford Motors developed the Explorer sports utility vehicle, the number 1 selling sports utility vehicle in the United States, based on an extensive study of customer preferences. Which value chain activity of Ford conducted those studies?
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97.  A company's strategic commitments
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98.  Which of the following distinctive competencies typically has the lowest barrier to imitation?
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99.  Donna can make a chair for about $100, she charges customers $150 to buy the chair, and customers perceive that the chair is worth $225. Donna's profit margin is
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100.  Research and development activities are concerned with
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