MGT103 Exam: Questions With Complete Solutions (Guaranteed Pass!)
Steve has been tasked with the job of outlining decisions about resource allocation, priorities, and action steps that are necessary to reach one of his company's strategic goals. What is Steve developing?
A. strategic plan
B. operational plan
C. strategic mission
D. tactical plan Right Ans - A
What is true of a tactical plan?
A. It involves front-line managers.
B. It has a longer time horizon than a strategic plan.
C. It is primarily concerned with deciding what to do.
D. It is developed to implement specific parts of a strategic plan. Right Ans -
D
The planning process takes place within a(n) ___ context.
A. environmental
B. functional
C. planning
D. Operational Right Ans - A
In Pleasantville, JJ's Auto Repair is where most residents go for any type of car repair. Inspired by his entrepreneurial son, JJ has decided to open a detailing shop on adjoining property. If JJ elected to open an auto repair shop in the neighboring county, he would be expanding his ___.
A. business scope
B. operational goals
C. distinctive competence
D. effective strategies Right Ans - A
___ is the set of strategic alternatives from which an organization chooses as it manages its operations simultaneously across several industries and several markets.
A. Business-level strategy
B. Effective strategy C. Resource strategy
D. Corporate-level strategy Right Ans - D
Lighthouse Cinema has enjoyed a successful history in the town of Battle Ridge, VA. Despite the growth of multiplex theaters in most population centers, Lighthouse Cinema has remained a popular entertainment option for the surrounding area, but sales have been stagnant over the past few years. A national theater chain recently announced that it will build a 10-theater facility on the outskirts of Battle Ridge. This development calls for Lighthouse Cinema to pursue a strategy that will ___.
A. revise internal operating procedures
B. pursue new investment opportunities
C. narrow the target market
D. neutralize the impending threat Right Ans - D
An organizational _______is an area that increases the difficulty of an organizationperforming at a high level.
A. weakness
B. strength
C. threat
D. strategy Right Ans - B
When devising a new strategy, it is best to start with what?
A. a tactical plan
B. a SWOT analysis
C. strategy formulation
D. an operational plan Right Ans - B
Lighthouse Cinema has enjoyed a successful history in the town of Battle Ridge, VA. Despite the growth of multiplex theaters in most population centers, Lighthouse Cinema has remained a popular entertainment option for the surrounding area, but sales have been stagnant over the past few years. A national theater chain recently announced that it will build a 10-theater facility on the outskirts of Battle Ridge. The owner of Lighthouse Cinema has learned that the new competitor's prices will be 20% higher than his theater admissions. Consequently, Lighthouse Cinema should strongly consider a business-level strategy based on ___.
A. differentiation
B. product life cycle C. concentration on a specific market
D. cost leadership Right Ans - D
Product differentiation, low costs, and the development of new products or services are key to a company's success at what stage of the product life cycle?
A. introduction
B. decline
C. diversification
D. growth Right Ans - B
Lighthouse Cinema has enjoyed a successful history in the town of Battle Ridge, VA. The movie theater has remained a popular entertainment option for the surrounding area, but sales have been stagnant over the past few years. The theater is currently in the ___ stage of the product life cycle.
A. maturity
B. differentiation
C. growth
D. introduction Right Ans - A
____ describes the number of different businesses that an organization runs and the extent to which these businesses relate to one another.
A. Scope
B. Differentiation
C. Diversification
D. Synergy Right Ans - B
The market for memory chips for electronic devices is growing at an incredible rate, and GloTech has the largest share of that market. According to the BCG matrix, GloTech is a ___.
A. question mark
B. cash cow
C. dog
D. star Right Ans - D
Camille's Coffee Shop has a very small share of the market and has no plans forgrowth. According to the BCG matrix, this business is a ___.A. question mark
B. cash cow
C. dog
D. star Right Ans - D
Steve has been tasked with the job of outlining decisions about resource allocation, priorities, and action steps that are necessary to reach one of his company's strategic goals. What is Steve developing?
A. strategic plan
B. operational plan
C. strategic mission
D. tactical plan Right Ans - A
What is true of a tactical plan?
A. It involves front-line managers.
B. It has a longer time horizon than a strategic plan.
C. It is primarily concerned with deciding what to do.
D. It is developed to implement specific parts of a strategic plan. Right Ans -
D
The planning process takes place within a(n) ___ context.
A. environmental
B. functional
C. planning
D. Operational Right Ans - A
In Pleasantville, JJ's Auto Repair is where most residents go for any type of car repair. Inspired by his entrepreneurial son, JJ has decided to open a detailing shop on adjoining property. If JJ elected to open an auto repair shop in the neighboring county, he would be expanding his ___.
A. business scope
B. operational goals
C. distinctive competence
D. effective strategies Right Ans - A
___ is the set of strategic alternatives from which an organization chooses as it manages its operations simultaneously across several industries and several markets.
A. Business-level strategy
B. Effective strategy C. Resource strategy
D. Corporate-level strategy Right Ans - D
Lighthouse Cinema has enjoyed a successful history in the town of Battle Ridge, VA. Despite the growth of multiplex theaters in most population centers, Lighthouse Cinema has remained a popular entertainment option for the surrounding area, but sales have been stagnant over the past few years. A national theater chain recently announced that it will build a 10-theater facility on the outskirts of Battle Ridge. This development calls for Lighthouse Cinema to pursue a strategy that will ___.
A. revise internal operating procedures
B. pursue new investment opportunities
C. narrow the target market
D. neutralize the impending threat Right Ans - D
An organizational _______is an area that increases the difficulty of an organizationperforming at a high level.
A. weakness
B. strength
C. threat
D. strategy Right Ans - B
When devising a new strategy, it is best to start with what?
A. a tactical plan
B. a SWOT analysis
C. strategy formulation
D. an operational plan Right Ans - B
Lighthouse Cinema has enjoyed a successful history in the town of Battle Ridge, VA. Despite the growth of multiplex theaters in most population centers, Lighthouse Cinema has remained a popular entertainment option for the surrounding area, but sales have been stagnant over the past few years. A national theater chain recently announced that it will build a 10-theater facility on the outskirts of Battle Ridge. The owner of Lighthouse Cinema has learned that the new competitor's prices will be 20% higher than his theater admissions. Consequently, Lighthouse Cinema should strongly consider a business-level strategy based on ___.
A. differentiation
B. product life cycle C. concentration on a specific market
D. cost leadership Right Ans - D
Product differentiation, low costs, and the development of new products or services are key to a company's success at what stage of the product life cycle?
A. introduction
B. decline
C. diversification
D. growth Right Ans - B
Lighthouse Cinema has enjoyed a successful history in the town of Battle Ridge, VA. The movie theater has remained a popular entertainment option for the surrounding area, but sales have been stagnant over the past few years. The theater is currently in the ___ stage of the product life cycle.
A. maturity
B. differentiation
C. growth
D. introduction Right Ans - A
____ describes the number of different businesses that an organization runs and the extent to which these businesses relate to one another.
A. Scope
B. Differentiation
C. Diversification
D. Synergy Right Ans - B
The market for memory chips for electronic devices is growing at an incredible rate, and GloTech has the largest share of that market. According to the BCG matrix, GloTech is a ___.
A. question mark
B. cash cow
C. dog
D. star Right Ans - D
Camille's Coffee Shop has a very small share of the market and has no plans forgrowth. According to the BCG matrix, this business is a ___.A. question mark
B. cash cow
C. dog
D. star Right Ans - D
