Title: MGT 498 Final Exam Answers
1MGT 498 Final Exam Answers
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2- 1 According to Porter, the corporation is most
concerned with - the aggregate level of demand for a product line
- the amount of pressure from the societal
environment - the intensity of competition within its industry
- a market's position on its life cycle
-
- 2 Which strategy specifies the firm's overall
direction in terms of its general orientation
toward growth, the industries or markets in which
it competes, and the manner in which it
coordinates activities and transfers resources
among business units? - Corporate
- Divisional
- Functional
- Organizational
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3- 3 Which is the MOST commonly used measure of
corporate performance (in terms of profit)? - ROE
- ROI
- EPS
- DPS
-
- 4 When a company determines a competency's
competitive advantage, Barney refers to this
issue as - value
- rareness
- imitability
- organization
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Final Exam - 5 If performance data and activity reports
indicate undesirable performance as a result of
inappropriate use of the strategic management
process, operational managers must - change the strategic management model.
- know about it so that they can correct the
employee activity. - allow sufficient time to pass to verify if it is
the process or just the usage that is the
problem. - immediately notify the board of directors.
-
- 6 In the development of a SFAS matrix, the first
step is to - calculate the weighted scores
- indicate short-term for the duration
- enter the ratings of how the company's management
is responding to each of the strategic factors - list the most important EFAS and IFAS items
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5- 7 Continuous improvement is an operations concept
developed in - the United States
- Sweden
- Japan
- Germany
-
- 8 In a survey of 50 corporations, which of the
following was rated as a benefit of strategic
management? - Clearer sense of vision for the firm
- Higher levels of job satisfaction
- Improved productivity
- Higher levels of employee motivation
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6- 9 The hiring of new people with new skills,
firing of people with inappropriate or
substandard skills, and/or training existing
employees to learn new skills are included the
process of - training
- operating
- structuring
- Staffing
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- 10 The relationship among the board of directors,
top management, and shareholders is referred to
as - corporate governance
- corporate synergy
- corporate strategy
- corporate management
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7- 11 Which company experienced a tarnished
reputation and scandal after experiencing
behavior substitution when employees altered
their behavior on the job to fit the reward
system? - Macy's
- Neiman Marcus
- Saks
- Sears, Roebuck, Co.
-
- 12 Research suggests that strategic management
evolves through four sequential phases in
corporations. The first phase is - basic financial planning
- internally-oriented planning
- forecast-based planning
- externally-oriented planning
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Course - 13The sum total of the activities and choices
required for the execution of a strategic plan is
known as in - environmental scanning
- evaluation and control
- strategic formulation
- strategy implementation
-
- 14 The strategy implementation tool used to
determine what actions are going to be taken,
by whom, during what time frame, and with what
expected results is called a(n) - MBO
- succession plan
- action plan
- mission statement
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9- 15 One reason environmental uncertainty is a
threat to strategic managers is because - it hampers their ability to develop long-range
plans. - it forces the strategic manager to be reactive.
- it is a costly and consuming process.
- the strategic manager cannot control the
environment. -
- 16 The technique that illustrates how management
can match the external opportunities and threats
with its strengths and weaknesses to yield four
sets of strategic alternatives is called a (an) - TOWS Matrix
- EFAS Table
- SFAS Table
- IFAS Table
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- 17 Who typically implements strategy in large,
multi-industry corporations? - First level management
- Everyone in the organization
- The board of directors
- Middle management
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- 18 The process by which a firm approaches its
cross-border activities and those of competitors,
and plans to approach them in the future, is
called - staging
- competitive strategy
- cross-border configuration
- international strategy
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11- 19 Executives with a particular mix of skills and
experiences may be classified as an executive
type and paired with - a specific personal characteristic
- a certain educational background
- a specific experience background
- a specific corporate strategy
- 20 The concept that proposes private corporations
have responsibilities to society that extend
beyond making a profit is known as - social responsibility
- flexible responsibility
- social flexibility
- managerial responsibility
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12- Download for answers MGT 498 Final Exam Guide
- 21 According to the text, what is the "key" to
effective management of change in culture? - Operationalization
- Communication
- Staffing
- Evaluation
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- 22 An acronym for the assessment of the external
and internal environments of the business
corporation in the process of strategy
formulation/strategic planning is - S.B.U.
- R.O.I.
- M.B.O.
- S.W.O.T.
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13- 23 Who said that the social responsibility of
business is a "fundamentally subversive doctrine"
and that the one social responsibility of
business is "to use its resources and engage in
activities designed to increase its profits so
long as it stays with the rules of the game..."? - Archie Carroll
- Adam Smith
- William C. Norris
- Milton Friedman
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- 24 Suboptimization occurs when
- individuals are placed into positions not suited
to their abilities - managers tend to focus more of their attentions
on those aspects which are measurable than on
those which are not - a division or functional unit views itself as a
separate entity and refuses to cooperate with
other divisions or units to the detriment of the
organization as a whole - there is a failure to produce at or near full
capacity
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Paper -
- 25 Which strategy is developed to pull together
the various activities and competencies of each
department so that corporate and business unit
performance improves and resource productivity is
maximized? - Functional strategy
- Enterprise strategy
- Business strategy
- Competitive strategy
-
- 26 The end result of activity is known as
- measurement
- gratuity
- performance
- return on equity
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15- 27 What question must managers ask concerning the
relationship between economic logic and
international strategy? - Which international market-entry strategies will
we use? - How does our international strategy contribute to
the economic logic of our business and corporate
strategies? - Which geographic areas will we enter?
- How does being international make our products
more attractive to our customers? -
- 28 The strategy that deals with product and
process innovation and improvement is known as a
__________ strategy. - RD
- operations
- financial
- marketing
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16- 29 Because of the belief that accounting-based
numbers such as ROI, ROE, and EPS are not
reliable indicators of a corporation's economic
value, which method of corporate performance is
now preferred? - Basic earning power
- Profit margin on sales
- Shareholder value
- Price/earnings ratio
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- 30 Strategic planning in a multidivisional
corporation - should encourage a clear delineation between top
management and lower-level managers. - should be accomplished quickly to decrease the
likelihood of it becoming outdated. - should be instigated only from the main corporate
office. - should be a formalized and sophisticated system.
-
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Final Exam Answers
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