A Quiz On Unknown Historical Figures

40 Questions

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History Quizzes & Trivia

Exam #1


Questions and Answers
  • 1. 
    Strategic management is a process where organizations analyze and learn from the______.
    • A. 

      Internal environment

    • B. 

      External environment

    • C. 

      Internal and external environment

    • D. 

      Internation inviroment

    • E. 

      Top management team

  • 2. 
    The perspective that firms can influence their environment is called _______
    • A. 

      Environmental determinism

    • B. 

      Strategic management

    • C. 

      Situation analysis

    • D. 

      Enactment

    • E. 

      SWOT

  • 3. 
    The resources of a firm include all of the following except ______
    • A. 

      Financial

    • B. 

      Physical

    • C. 

      Human resource

    • D. 

      Organization knowledge

    • E. 

      Industry

  • 4. 
    • A. 

      Strategic vision

    • B. 

      Strategic mission

    • C. 

      Strategic direction

    • D. 

      Strategic formulation

    • E. 

      Strategic thinking

  • 5. 
    Characteristics of "strategic thinking" include all but which of the following?
    • A. 

      Intent-focused

    • B. 

      Opportunistic

    • C. 

      Long-term-oriented

    • D. 

      Hypothesis--driven

    • E. 

      Core knowledge

  • 6. 
    Socio-cutural environments have meaning because____.
    • A. 

      Well-educated people find them meaningful

    • B. 

      They influence trends in a particular region

    • C. 

      They are made up of individuals

    • D. 

      They are made up of stakeholders

    • E. 

      They enhance businesses

  • 7. 
    Suppliers in the five forces model are powerful when the following characteristics are present expect when they
    • A. 

      Are few in number

    • B. 

      Are a direct competitor

    • C. 

      Have a dependent customers have a differentiated product

    • D. 

      Have dependent customers

    • E. 

      Can easily integrate forward

  • 8. 
    The relationship that is important and most frequently used for industries that are heavily regulated or subject to frequent government interferences is known as ______.
    • A. 

      Networks

    • B. 

      Consortia

    • C. 

      Alliances

    • D. 

      Trade associations

    • E. 

      Interlocking directorates

  • 9. 
    Long-term changes or movements that are substantial and last are known as ______?
    • A. 

      Fads

    • B. 

      Generational cohorts

    • C. 

      Trends

    • D. 

      Cultural blips

    • E. 

      Influences

  • 10. 
    Technological innovations that are widely adopted are known as a ____?`
    • A. 

      Radical innovation

    • B. 

      Emergent innovation

    • C. 

      Dominant design

    • D. 

      Software design

    • E. 

      Hardware design

  • 11. 
    Three of the four central components of strategic direction are
    • A. 

      Vision, definition and values

    • B. 

      Vision, creativity and mission

    • C. 

      Mission, formulation and policy

    • D. 

      Analysis, direction and formulation

    • E. 

      Analysis, formulation and implementation

  • 12. 
    Enterprise strategy refers to _____
    • A. 

      Another term for social responsibility

    • B. 

      The strategy for the individual business unit

    • C. 

      The combining of business responsibility and business ethics in the firm

    • D. 

      The combining of the ethical and strategic thinking in the firm

    • E. 

      The strategy of the group that owns the story line for Starship Enterprise

  • 13. 
    Uses of "mission statements" include all but which of the following?
    • A. 

      Direct decision making and resource allocation

    • B. 

      Define the long-term strategy of the organization

    • C. 

      Inspire level of performance of the organization

    • D. 

      Communicate organizational purpose and value

    • E. 

      Enhance organizational reputation

  • 14. 
    The ethical theory that everyone should act in a way that generates the greatest befits for the largest number of people is known as _____?
    • A. 

      Economic theory

    • B. 

      Legal theory

    • C. 

      Religious theory

    • D. 

      Utilitarian theory

    • E. 

      Universalist theory

  • 15. 
    The Mandarin Oriental Hotel Group developed the following acronym to represent its strategic direction and define its mission
    • A. 

      DELIGHT

    • B. 

      DESTINED

    • C. 

      DETERMINED

    • D. 

      DISTINCTIVE

    • E. 

      DESIRED

  • 16. 
    The acronym LEED refers to ______.
    • A. 

      Leadership in Essential Ethics and Direction

    • B. 

      Leadership in Energy and Environmental Design

    • C. 

      Leadership in Emerging Environmental Direction

    • D. 

      Leadership in Energy and Ethical Design

    • E. 

      Leadership in Everything Elegant in Design

  • 17. 
    Organizational assets that are difficult to quantify, such as knowledge, are called_____.
    • A. 

      Capable resources

    • B. 

      Competitive resources

    • C. 

      Tangible resources

    • D. 

      Intangible resources

    • E. 

      Natural resources

  • 18. 
    Underlying philosophies that guide the decisions and behavior of a firm are _____.
    • A. 

      Core values

    • B. 

      Social system

    • C. 

      Effective leadership

    • D. 

      Reward administration

    • E. 

      Organizational communication

  • 19. 
    A measure of a firm's ability to pay short-term obligations is
    • A. 

      Liquidity

    • B. 

      Leverage

    • C. 

      Financial risk

    • D. 

      Value chain

    • E. 

      Profitability

  • 20. 
    In the featured story, Ryanair, the largest low-cost carrier in Europe, established its leadership position by establishing the following key elements to its business strategy except____.
    • A. 

      Low fares to stimulate demand

    • B. 

      Single type of aircraft for efficiencies

    • C. 

      Locate at large, prime airports

    • D. 

      Point-to-point service

    • E. 

      Fewer cancellations

  • 21. 
    The featured story, "The African Challenge", described all but which of the following reasons why the local Sudanese people are not hired to work in hotels and restaurants?
    • A. 

      They don't work as hard

    • B. 

      The government prohibits them from working

    • C. 

      They lack necessary training

    • D. 

      There is long-standing cultural divisions

    • E. 

      Islam views it as unsuitable for women to serve people

  • 22. 
    The "McDonald's Plan to Win" featured story portrayed which company that was divested?
    • A. 

      Chipotle Mexican Grill

    • B. 

      Boston Market

    • C. 

      Villa Pizza

    • D. 

      Panda Express

    • E. 

      McCafe

  • 23. 
    The strategy for Etap and Motel 6 in the "Broad Market" can best be described as ______.
    • A. 

      Low-cost leadership strategy

    • B. 

      Differential strategy

    • C. 

      Business level strategy

    • D. 

      Best-value strategy

    • E. 

      Competitive strategy

  • 24. 
    Knowledge-Based Resources include all but which of the following?
    • A. 

      Knowledge creation

    • B. 

      Knowledge retention

    • C. 

      Knowledge distribution

    • D. 

      Knowledge sharing

    • E. 

      Knowledge utilization

  • 25. 
    • A. 

      Fining a uniqueness that will bring a premium price at a reasonable cost

    • B. 

      Emphasizing the creation of extra value

    • C. 

      Stressing cost cutting measures

    • D. 

      Maximizing high capacity utilizations

    • E. 

      Targeting the broader market

  • 26. 
    A strategy that focuses on offering unique products or services that customers perceive to be different and better than offerings of the competition is known as _____?
    • A. 

      Segmentation

    • B. 

      Differentiation

    • C. 

      Low-cost leadership

    • D. 

      Market

    • E. 

      Supply and demand

  • 27. 
    • A. 

      Collaboration

    • B. 

      Competitive convergence

    • C. 

      Competitive advantage

    • D. 

      Constructive design

    • E. 

      Consistent structure

  • 28. 
    • A. 

      High capacity utilization

    • B. 

      Economies of technology

    • C. 

      Leaning effects

    • D. 

      Capital intensity

    • E. 

      Economies of scale

  • 29. 
    In order to formulate strategy at the "business-unit level" the following must take place except____.
    • A. 

      Targeting a broad market

    • B. 

      Direction setting analysis of the business situation

    • C. 

      Selection of a strategy

    • D. 

      Direction setting

    • E. 

      Management of resources

  • 30. 
    Featured story, Betting on Luxury, which feature is not unique to the Wynn resort?
    • A. 

      Luxury car dealership

    • B. 

      Celebrity chef inspired restaurants

    • C. 

      Two shoe performances each night

    • D. 

      Architectural features that promote natural light

    • E. 

      Combined room key and frequent player card

  • 31. 
    Groups or individuals who can significantly affect an organization's activities are called stakeholders?
    • A. 

      True

    • B. 

      False

  • 32. 
    An emergent strategy is one that is planned and expected?
    • A. 

      True

    • B. 

      False

  • 33. 
    Cost associated with starting a business are known economies of scale?
    • A. 

      True

    • B. 

      False

  • 34. 
    An industry characterized by the existence of a few very large firms is called an oligopoly?
    • A. 

      True

    • B. 

      False

  • 35. 
    An organization with a vision has a clear sense of what it wants to be in the future?
    • A. 

      True

    • B. 

      False

  • 36. 
    Firms that pursue social responsibility are much more profitable in the short-term
    • A. 

      True

    • B. 

      False

  • 37. 
    Leverage ratios define the efficiency of daily operational activities?
    • A. 

      True

    • B. 

      False

  • 38. 
    Architectural design has radically changed the mind-set in the hospitality industry?
    • A. 

      True

    • B. 

      False

  • 39. 
    Collaboration is a strategy that reflects competitive dynamics?
    • A. 

      True

    • B. 

      False

  • 40. 
    They key to a best-value strategy is to associate it with supply and demand economies?
    • A. 

      True

    • B. 

      False