FINAL EXAM BUS 4795-STRATEGIC MANAGEMENT & POLICY_ Answered Latest 2026/27 - Central State University.

FINAL EXAM BUS 4795-STRATEGIC MANAGEMENT & POLICY_ Answered Latest 2026/27 - Central State University. FINAL EXAM BUS 4795-STRATEGIC MANAGEMENT & POLICY 176 %-A Question 1 (5 points) Saved Listen What are the key reasons executives are enticed to enter new markets? Check all that apply. Question 1 options: Diversification of business risk Access to new customers Vacations to new places Lowering costs Question 2 (5 points) Saved Listen Although the United States enjoys the largest economy in the world, it accounts for only about what percent of the world's population? Question 2 options: 3 7 10 5 Question 3 (5 points) Saved Listen Reshoring is the relocation of a business activity to another country. Question 3 options: True FalseQuestion 4 (10 points) Saved Listen Match the risk with it's definition. Question 4 options: 123 The potential for government upheaval or interference with business to harm an operation within a country. 123 The potential for a company's operations in a country to struggle because of differences in language, customs, norms, and customer preferences. 123 The potential for a country's economic conditions and policies, property rights protections, and currency exchange rates to harm an operation 1. Political Risk 2. Economic Risk 3. Cultural Risk Question 5 (5 points) Saved Listen What is the seizure of privately owned business operations by a national government. Question 5 options: Question 6 (5 points) Saved Listen Porter's Determinants of National Advantage is often referred to as the what? Question 6 options: Blank # 1 Blank # 2 Question 7 (10 points)Saved Listen Match the four key dimensions of the diamond model with their definitions. Question 7 options: 1234 How challenging it is for companies to survive domestic competition. 1234 The nature of raw material and other inputs that companies need to create goods and service 1234 The extent to which companies' domestic suppliers and other complementary industries are developed and helpful. 1234 The nature of domestic customers, especially whether they have high expectations of the goods and services that they buy. 1. Demand Conditions 2. Factor Conditions 3. Related and Supporting Industries 4. Company Strategy, Structure, and Rivalry Question 8 (10 points) Saved Listen Question 8 options: A company using a sacrifices efficiency in favor of emphasizing responsive-ness to local requirements within each of its markets. Question 9 (5 points) Saved Listen Question 9 options:A company that has operations in more than one country is known as a corporation. Question 10 (10 points) Saved Listen Question 10 options: A company using a sacrifices responsiveness to local requirements within each of its markets in favor of emphasizing efficiency. Question 11 (10 points) Saved Listen Question 11 options: A company using a seeks a middle ground between a multidomestic strategy and a global strategy. Question 12 (10 points) Saved Listen Name three concentration strategies. Question 12 options: Question 13 (5 points)Saved Listen An acquisition joins two companies into one. Acquisitions typically involve similarly sized companies. Question 13 options: True False Question 14 (10 points) Saved Listen Question 14 options: When pursuing a strategy, a company gets involved in new portions of the value chain. Question 15 (5 points) Saved Listen A core competency is a skill set that is difficult for competitors to imitate, can be leveraged in different businesses, and contributes to the benefits enjoyed by customers within each business. Question 15 options: True False Question 16 (5 points) Saved ListenWhat is it called when a company enters an industry that lacks any important similarities with the company's existing industry or industries? Question 16 options: Related Diversification Unrelated Diversification Unbelievable Diversification Takeover Question 17 (5 points) Saved Listen Portfolio planning is a process that helps executives assess their companies' prospects for success within each of its industries, offers suggestions about what to do within each industry, and provides ideas for how to allocate resources across industries. Question 17 options: True False Question 18 (5 points) Saved Listen Match the definition to the word(s): A process of splitting up a task into a series of smaller tasks, each of which is performed by a specialist. Question 18 options: Task Breakdown Hierarchy of Authority Division of Labor Organization Structure Question 19 (10 points) SavedListen Match the word with the definition Question 19 options: 12345 The principle that each person within an organization should only report directly to one supervisor. 12345 Relationships between equals in an organization. 12345 Relationships within an organizational structure that show the lines of responsibility through which a supervisor delegates authority to subordinates, oversees their activities, evaluates their performance, and guides them toward improvement when necessary. 12345 Unofficial relationships such as personal friendships, rivalries, and politics. 12345 How tasks are assigned and grouped together with formal reporting relationships. 1. Vertical Linkage 2. Horizontal Linkage 3. Unity of Command 4. Informal Linkage 5. Organizational Structure Question 20 (10 points) Saved Listen Name the four types of common organizational structures (from Chapter 9 in the book). Question 20 options: Question 21 (5 points) Saved Listen Question 21 options: Aorganization is one that removes the usual barriers between parts of the organization as well as barriers between the organization and others. Question 22 (10 points) Saved Listen Match the word(s) with the definition. Question 22 options: 1234 Allow executives to track how well the organization is performing, identify areas of concern, and then take action to address the concerns. 1234 A focus on specifying the actions that ultimately lead to results. 1234 A focus on measurable results within an organization. 1234 Relying on shared traditions, expectations, values, and norms to lead people to work toward the good of their organization. 1. Organizational Control Systems 2. Output Control 3. Behavioral Control 4. Clan Control Question 23 (5 points) Saved Listen What are the three BASIC forms of business (according to the text)? Question 23 options: Corporation S Corporation Sole Proprietorship Partnership Limited Liability Company Question 24 (5 points) SavedListen Question 24 options: One of the many responsibilities of the Board of Directors is to provide effective Governance to the organization. Question 25 (10 points) Saved Listen Kohlberg's six stages of moral development were grouped into three levels. What are those three levels? Question 25 options: Question 26 (10 points) Saved Listen Put the steps of the Rational Decision Making Model in order. Question 26 options: Weigh Alternatives Establish Decision Criteria Weigh Decision Criteria Evaluate the Alternatives Choose the Best Alternative Implement the Decision Identify the Problem Evaluate the Decision