Strategic Mgmt Exam Questions With Correct Marking Scheme | Verified A+ Pass

Strategic Mgmt EXAM QUESTIONS WITH CORRECT MARKING SCHEME | VERIFIED A+ PASS According to the external control view of leadership, which of the following factors would not be considered an external factor that might positively or negatively affect a firm's success? A) economic downturns B) governmental legislation C) outbreak of war D) company employee morale - Answer- D) company employee morale An executive states that HR must be a true partner of the business, with a deep and up-to-date understanding of business realities and objectives, and must ensure HR initiatives fully support them at all points of the values chain. This is an example of? A)interrelationships among firms B)relationships among activities within the firm and with other stakeholders C)relationships between firms D)interrelationships among activities within the firm - Answer- D)interrelationships among activities within the firm Ambidextrous behaviors in individuals illustrate how a dual capacity for _______ can be woven into the fabric of an organization at the individual level. A. alignment and adaptability B. alignment and transparency C. alignment and internal linkages D. alignment and efficiency - Answer- D. alignment and efficiency Indochino is a retailer of male clothing that sells custom-made suits online and in brick-and-mortar stores. They use ________ operations to outcompete traditional retailers. A)Traditional B)Unscaled C)Scaled D)Reverse - Answer- C)Scaled A resource is valuable and rare but neither difficult to imitate not without substitutes. This should enable the firm to attain - Answer- A temporary competitive advantage IP is characterized by __________ development costs and very ______ marginal costs. A. insignificant; low B. expensive; high C. significant; low D. insignificant; high - Answer- C. significant; low Firms that use AI to produce improved predictions and evaluations with the direct intervention of a human programmer or statistician have a high degree of sustainability because the combine aspects of ________ and ________ that make it difficult to imitate their resource bases. A) path dependence, efficient procedures B) casual ambiguity, efficient procedures C) path dependence, social complexity D) casual ambiguity, equivalent strategic capabilities - Answer- C) path dependence, social complexity It is anticipated that the worldwide shortage of highly skilled, college-educated workers will increase significantly by 2020, according to research by McKinsey Global Institute. Some companies are going as far as to redefine the jobs of their experts and are transferring some of their tasks to lower-skilled people inside and outside of their companies. By redefining these ________ knowledge jobs, they address ________ shortages and ________ costs while enhancing job satisfaction. A. high-value; skill; lower B. high-value; personnel; increase C. high-value; skill; increase D. low-value; monetary; decrease - Answer- A. high-value; skill; lower Research published in Personnel Psychology shows that older workers are slightly more willing to implement organizational changes than younger workers. This is an example of which segment of the general environment? A) economic B) demographic C) sociocultural D) political and legal - Answer- C) sociocultural The bargaining power of suppliers is enhanced under the following market condition? - Answer- dominance by few suppliers The value net is a game-theoretic approach that _____________. A. extends the value chain analysis B. is a way to analyze all the players in a game and analyze how their interactions affect the ability of a firm to generate and appropriate value C. helps us to understand the evolution of the five forces over time D. uses network analysis to understand the relationships among different companies - Answer- B. is a way to analyze all the players in a game and analyze how their interactions affect the ability of a firm to generate and appropriate value Traditional financial models are built around relatively easy-to-measure, monetized results; whereas, the benefits of sustainability projects involve - Answer- Fuzzy Intangibles Wall Street executives have received excessive bonus pay in the past. This concerns which of the following stakeholder groups most directly? A) government B) suppliers C) creditors D) stockholders - Answer- D) stockholders Which of the following examples demonstrates how successful organizations manage their primary activities? A. Motorola has revised its compensation system to reward employees who learn a variety of skills. B. Hewlett Packard has cut lead time from five days to one by employing JIT inventory management. C. National Steel improved its efficiency by reducing the number of job classifications. D. Wal-Mart implemented a sophisticated information system that resulted in reduced inventory carrying costs and shortened customer response times. - Answer- B. Hewlett Packard has cut lead time from five days to one by employing JIT inventory management. Which of the following turnaround strategies is Nordstrom primarily using? - Answer- piecemeal productivity improvements Which of the following statements about the introduction stage of the market life cycle is TRUE? A. It produces relatively large, positive cash flows. B. Strong brand recognition seldom serves as an important switching cost C. Market share gains by pioneers are usually easily sustained for many years. D. Products or services offered by pioneers may be perceived as differentiated because they are new. - Answer- D. Products or services offered by pioneers may be perceived as differentiated because they are new.