BMGT Exam 2 (Ch.7-12) Questions with Correct Answers
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A - Answer-Which is the best question to ask when starting the strategic management process?
A) "What is our mission?"
B) "How well are we currently doing?"
C) "How can we get where we want to be?"
D) "Why aren't we doing better?"
B - Answer-The ability of a firm to consistently outperform i...
BMGT Exam 2 (Ch.7-12) Questions with
Correct Answers
A - Answer-Which is the best question to ask when starting the strategic management
process?
A) "What is our mission?"
B) "How well are we currently doing?"
C) "How can we get where we want to be?"
D) "Why aren't we doing better?"
B - Answer-The ability of a firm to consistently outperform its rivals is called
___________.
A) vertical integration
B) competitive advantage
C) strategic intent
D) core competency
B - Answer-General Electric is a complex conglomerate that owns many firms operating
in very different industries. The strategies pursued for each of these units within GE
would best be called ___________-level strategies.
A) corporate
B) business
C) functional
D) transnational
C - Answer-An organization that is downsizing by cutting staff to reduce costs can be
described as pursuing a __________ strategy.
A) liquidation
B) divestiture
C) retrenchment
D) stability
A - Answer-When you buy music downloads online, the firm selling them to you is
engaging in which type of e-business strategy?
A) B2C
B) B2B
C) infomediary
D) crowdsourcing
B - Answer-A ___________ in the BCG Matrix would have a high market share in a low-
growth market.
A) dog
B) cash cow
C) question mark
, D) star
C - Answer-In Porter's five forces model, which of the following conditions is most
favorable from the standpoint of industry attractiveness?
A) many competitive rivals
B) many substitute products
C) low bargaining power of suppliers
D) few barriers to entry
A - Answer-If Google's top management were to announce that the firm was going to
buy Federal Express, this would indicate a growth strategy of ____________.
A) diversification
B) concentration
C) horizontal integration
D) vertical integration
C - Answer-The alliances that link together firms in supply chain management
relationships are examples of how businesses try to use ____________ strategies.
A) B2C
B) growth
C) cooperation
D) concentration
D - Answer-Among the global strategies that international businesses might pursue, the
__________ strategy most directly tries to tailor products to fit local needs and cultures
in different countries.
A) concentration
B) globalization
C) transnational
D) multidomestic
D - Answer-When Coke and Pepsi spend millions on ads trying to convince customers
that their products are unique, they are pursuing a ___________ strategy.
A) transnational
B) concentration
C) diversification
D) differentiation
C - Answer-Porter's model of competitive strategies suggests a firm that wants to
compete with its rivals in a board market by selling a very-low-priced product would
need to successfully implement a ____________ strategy.
A) retrenchment
B) differentiation
C) cost leadership
D) diversification
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