A Brief Warm Up for the Midterm Exam

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A Brief Warm Up for the Midterm Exam

• Summer 2007

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Contents of the Midterm Exam

• 25 multiple choice questions (2pts each).
• 3 define terms (2 pts each).
• 3 essay questions.
• Choice of two essay questions and required to
  answer one (12 pts).
• Choice of two essay questions and required to
  answer one (12 pts).
• 1 essay question will be mandatory (20pts).

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Two Examples of Multiple Choice Questions

• The term strategy is defined as
• a. an action a company takes to attain superior
  performance.
• b. a rational planning process conducted by upper
  management.
• c. the deliberate pursuit of emergent goals to
  achieve superior organizational performance.
• d. whatever the organization actually does to
  achieve superior organizational performance.
• All of these apply.
• Successful companies in a mature industry are
  most interested in
• a. reducing entry barriers.
• b. increasing entry barriers.
• c. reducing the power of suppliers.
• d. reducing the threat of substitute products.
• e. reducing the power of buyers.

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Mandatory Essay Question

• Describe the strategic management process in
  detail up to Chapter 7 of the model. I would
  like you to identify each of the individual
  components, to define a strategic term associated
  with each component, and to provide an example
  for each of your defined strategic terms using a
  company and the actual term in the example. In
  addition, I would like you to define strategy in
  your answer.

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Mandatory Essay Question

• Example of one component Strategic Choice
  (Remember for this component you need to define
  one term from either Chapters 1, 2 or 3).
• Identify SWOT Strategic Choice
• Define Icarus Paradox (page 102) Companies
  dazzled by early success believe that they
  understand how the market will work in the future
  and become susceptible to bad choices.
• Example Wang computers demonstrated attributes
  of the Icarus Paradox, as it was unable to
  maintain its early success.