BMGT Exam 2 Ch 7-12 Exam Questions with Complete Solutions
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Course
BMGT
Institution
BMGT
Which is the best first question to ask when starting the strategic management process? - Answer-What is our mission?
The ability of a firm to consistently outperform its rivals is called _______. - Answer-competitive advantage
General Electric is a complex conglomerate that owns both NBC Uni...
BMGT Exam 2 Ch 7-12 Exam Questions
with Complete Solutions
Which is the best first question to ask when starting the strategic management process?
- Answer-What is our mission?
The ability of a firm to consistently outperform its rivals is called _______. - Answer-
competitive advantage
General Electric is a complex conglomerate that owns both NBC Universal and GE
Healthcare, firms operating in very different industries. The strategies pursued for each
of these units wihtin GE would best be called _________ level strategies. - Answer-
business
An organization that is downsizing by cutting staff to reduce costs can be described as
pursing a ________ strategy. - Answer-retrenchment
When you buy music downloads online, the firm selling them to you is engaging in
which type of e-business strategy? - Answer-B2C
A _________ in the BCG Matrix would have a high market share in a low-growth
market. - Answer-cash cow
In porter's five forces model, which of the following conditions is most favorable from the
standpoint of industry attractiveness? - Answer-low bargaining power of suppliers
If Google's top management were to annouce that the firm was going to buy Federal
Express, this would indicate a strategy of _________. - Answer-diversification
The alliances that link together firms in supply chain management relationships are
examples of how businesses try to use _______ strategies. - Answer-cooperation
Amoung the global strategies that international businesses might persue the
___________ strategy is the one that most tries to tailor products to fit the local needs
and cultures in different countries. - Answer-multidomestic
When Coke and Pepsi spend millions on ads trying to convince customers that their
products are unique, they are pursing a ________ strategy. - Answer-differentiation
When using Porter's model of competitive strategies, a firm that wants to compete with
its rivals in a broad market by selling a very low-priced product would need to
successfully implement a _________ strategy. - Answer-cost leadership
, Restructuring by downsizing operations and reducing staff is a form of _________
strategy? - Answer-retrenchment
According to Porter's five forces model, ________ is a good indicator that an industry is
unattractive from a competitive standpoint. - Answer-few customers
Which is an example of a cooperative strategy? - Answer-strategic alliance
The main purpose of organizing as a management function is to ___________. -
Answer-arrange people and resources to accomplish work
An organization chart is most useful for ________. - Answer-showing designated
supervisory relationships
Rumors and resistance to change are potential disadvantages often associated with
__________. - Answer-informal structures
When an organization chart shows vice presidents of marketing, finance,
manufacturing, and purchasing all reporting to the president, top management is using a
__________ structure. - Answer-functional
The "two-boss" system of reporting relationships is both a potential source and one of
the key aspects of _______ structures. - Answer-matrix
A manufacturing business with a functional structure has recently acquired two other
businesses with very different product lines. The president of the combined company
might consider using a ________ structure to allow a better focus on the unique needs
of each product area. - Answer-divisional
An organization using a ________ structure should expect more problems to be solved
at lower levels and that top managers will have more time free to engage in strategic
thinking. - Answer-matrix
The functional chimneys problem occurs when people in different functions _________.
- Answer-fail to communicate with one another
An organization that employs just a few "core" or essential full-time employees and
outsources a lot of the remaining work shows signs of using a ______ structure. -
Answer-network
Which organization structure is likely to have better managerial accountability for
product or service delivery? - Answer-matrix
A "tall" organization will likely have ________ spans of control than a "flat" organization
with the same number of members. - Answer-narrower
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