Test Bank - Strategic Management Concepts and Cases Competitiveness and Globalization, 14th Edition by Hitt, Ireland, & Hoskisson All 1-13 Chapters Covered ,Latest Edition

Test Bank for Strategic Management Concepts and Cases Competitiveness and Globalization 14e Michael
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Hitt, Duane Ireland, Robert Hoskisson, Jeffrey Harrison (All Chapters 100% Original Verified, A+ Grade)
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Chapter 01 - Strategic Management and Strategic Competitiveness
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True / False u u




1. The difference between average and above-average returns is that average returns are returns that an investor expects to
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earn from an investment as compared to other investments with similar stock prices, while above-average returns are in
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excess of expectations for similarly priced stocks.
u u u u u u u


a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness u u u u u u u


QUESTION TYPE: True / False u u u


HAS VARIABLES: u False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive
u u u u u u u u


advantage, above-average returns, and the strategic management process. u u u u u u u u


NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
u u u u u u u u u u u


KEYWORDS: Bloom's: Analyze u


DATE CREATED: u 4/19/2023 5:02 PM u u



DATE MODIFIED: u 4/19/2023 5:02 PM u u




2. Particularly when assessing investments in new venture firms, the most effective, and often the only, way to measure
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the performance of the firms and determine their viability as an investment option is to examine financial metrics such
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as returns on assets, and sales.
u u u u u u


a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness u u u u u u u


QUESTION TYPE: True / False u u u


HAS VARIABLES: u False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive
u u u u u u u u


advantage, above-average returns, and the strategic management process. u u u u u u u u


NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
u u u u u u u u u u u


KEYWORDS: Bloom's: Analyze u


DATE CREATED: u 4/19/2023 5:02 PM u u


DATE MODIFIED: u 4/19/2023 5:02 PM u u




3. Examples of incremental innovations include iPads, Wi-Fi, and the web browser.
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a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 The Competitive Landscape u u u




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,QUESTION TYPE: True / False u u u


HAS VARIABLES:
u False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
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technological changes, and expectations of socially responsible behavior shape it.u u u u u u u u u u


NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
u u u u u u u u u u u


KEYWORDS: Bloom's: Apply u


DATE CREATED: u 4/19/2023 5:02 PM u u


DATE MODIFIED: u 4/19/2023 5:02 PM u u




4. The I/O and resource-based models contain many of the same steps. One clear difference between the two models is
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the resource-based model starts by looking at the internal strengths and weaknesses of a firm, while the I/O model begins
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with an examination of the external environment. Another key difference is the resource-based model identifies an
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attractive industry much earlier in the process than does the I/O model.
u u u u u u u u u u u u


a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-4 The Resource-Based Model of Above-Average Returns u u u u u u



QUESTION TYPE: True / False
u u u


HAS VARIABLES:
u False
LEARNING OBJECTIVES: SM.HITT.24.01.04 - Use the resource-based model to explain how firms can earn above-
u u u u u u u u u u u u u u


average returns. u u


NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
u u u u u u u u u u u


KEYWORDS: Bloom's: Analyze u


DATE CREATED: u 4/19/2023 5:02 PM u u



DATE MODIFIED: u 4/19/2023 5:02 PM u u




Multiple Choice u




5. What has a firm achieved when it successfully formulates and implements a value-creating strategy?
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a. Strategic competitiveness u


b. A permanently sustainable competitive advantage
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c. Substantial returns u


d. Legal and ethical core values u u u u



ANSWER: a
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness u u u u u u u


QUESTION TYPE: Multiple Choice
u u


HAS VARIABLES:
u False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive
u u u u u u u u


advantage, above-average returns, and the strategic management process. u u u u u u u u


NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
u u u u u u u u u u u


KEYWORDS: Bloom's: Understand u


DATE CREATED: u 4/19/2023 5:02 PM u u


DATE MODIFIED: u 5/17/2023 4:21 PM u u


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,6. The primary drivers of hypercompetition are
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a. rising global socio-economic instability; increased inflation
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b. the emergence of a global economy; rapid technological change
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c. increased global competition; decreased tariffs
u u u u


d. increased availability of capital; increased competition
u u u u u


ANSWER: b
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 The Competitive Landscape u u u


QUESTION TYPE: Multiple Choice
u u


HAS VARIABLES:
u False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
u u u u u u u u u u u


technological changes, and expectations of socially responsible behavior shape it.
u u u u u u u u u u


NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
u u u u u u u u u u u


KEYWORDS: Bloom's: Remember u


DATE CREATED: u 4/19/2023 5:02 PM u u


DATE MODIFIED: u 5/15/2023 2:15 PM u u




7. All of the following are characteristics of the global economy EXCEPT:
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a. the increasing importance of emerging economies as sources of revenue growth.
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b. the free movement of goods, services, people, skills, and ideas across geographic borders.
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c. the increased use of tariffs to protect industries.
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d. higher levels of opportunities and challenges in new geographic markets.
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ANSWER: c
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 The Competitive Landscape u u u


QUESTION TYPE: Multiple Choice
u u


HAS VARIABLES:
u False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
u u u u u u u u u u u


technological changes, and expectations of socially responsible behavior shape it.
u u u u u u u u u u


NATIONAL STANDARDS: United States - BUSPROG: Diversity
u u u u u u


KEYWORDS: Bloom's: Understand u


DATE CREATED: u 4/19/2023 5:02 PM u u


DATE MODIFIED: u 4/19/2023 5:02 PM u u




8. The increasing economic interdependence among countries and their organizations as reflected in the flow of products,
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financial capital, and knowledge across country borders is defined as
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a. hypercompetition.
b. boundaryless retailing. u


c. strategic intensity. u


d. globalization.
ANSWER: d
POINTS: 1
DIFFICULTY: Easy
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, REFERENCES: 1-2 The Competitive Landscape u u u


QUESTION TYPE: Multiple Choice
u u


HAS VARIABLES:
u False
LEARNING OBJECTIVES:SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
u u u u u u u u u u u


technological changes, and expectations of socially responsible behavior shape it.
u u u u u u u u u u


NATIONAL STANDARDS: United States - BUSPROG: Diversity
u u u u u u


KEYWORDS: Bloom's: Understand u


DATE CREATED:
u 4/19/2023 5:02 PM u u


DATE MODIFIED:
u 5/17/2023 6:18 PM u u




9. New markets created by the technologies underlying the development of products such as iPads and Wi-Fi are a result
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of
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a. disruptive technologies. u


b. global competition. u



c. knowledge intensity. u


d. hypercompetition.
ANSWER: a
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 The Competitive Landscape u u u


QUESTION TYPE: uMultiple Choice u


HAS VARIABLES:
u False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
u u u u u u u u u u u


technological changes, and expectations of socially responsible behavior shape it.
u u u u u u u u u u


NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
u u u u u u u u u u u


KEYWORDS: Bloom's: Apply u


DATE CREATED:
u 4/19/2023 5:02 PM u u


DATE MODIFIED:
u 5/17/2023 4:22 PM u u




10. The CEO of Ridgeway, Inc., realizes that the company's survival depends on developing and acquiring knowledge.
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Which of the following actions by the CEO would be MOST consistent with this need?
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a. Ensuring that all current, unique knowledge of the firm is protected by patents
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b. Planning extensive employee training and hiring educated and experienced employees
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c. Investing in sophisticated databases in relevant knowledge areas
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d. Establishing a system of organizational intelligence gathering
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ANSWER: b
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 The Competitive Landscape u u u


QUESTION TYPE: u Multiple Choice u



HAS VARIABLES:
u False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
u u u u u u u u u u u


technological changes, and expectations of socially responsible behavior shape it.
u u u u u u u u u u


NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
u u u u u u u u u u u


KEYWORDS: Bloom's: Apply u



DATE CREATED:
u 4/19/2023 5:02 PM u u



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