21 Cash and equivalents falls under what section of a company's balance sheet

Select one:

a.Owner's Equity

b.Operating Cash Flows

c.Liabilities

d.Assets

22 Once all relevant financial ratios have been calculated, the results may be analyzed in which of the following ways?

Select one:

a.Compare them to the company's past performance

b.Compare them to industry averages and ratios

c.Setting goals based on the results, then comparing them to actual results at the end of a period

d. Compare them to a trend line

e.All of the above

23 According to VRIO analysis, what factors must be in place for a firm to achieve sustained competitive advantage?

Select one:

A. Resources must be valuable, rare, hard to imitate, and the company must have hired the right people

B. Resources must be valuable, rare, hard to imitate, and the firm must be organized to take full advantage of its resources

C Resources must be rare, valuable, amortized, and the company must be organized to take full advantage of its resources

d.None of the above

24 According to VRIO analysis, what is the first question that needs to be asked when analyzing a company's resources?

Select one:

a.Are the firm's resources rare?

b.Are the firm's resources valuable?

C Are the firm's resources costly or difficult to imitate?

d.Is the firm organized so that it can fully exploit its resources?

25 Within what scope of strategy does the question "What overseas markets are promising" fall?

Select one:

a.Business

b.Functional

cCorporate

d.Operational

26 One of the benefits of a "single business strategy" is

Select one:

a Concentric diversification

b. Better clarity on mission and vision

c. Ability to reduce risk by using diversification

d. More competitive strategy for international expansion

27 Using direct-to-end user sales/marketing approaches is an example of how to achieve what type of strategy?

Select one:

A. Low cost strategy

B differentiation strategy

C Competitive Strategy

D Positioning Strategy

28 As part of a low cost strategy, the best example of cost avoidance" would be

select one:

A Capturing scale economies

B Lowering the company's prices

C . Relocating a facility beside a vendor or customer

D Raising the company's prices

29 The best definition of economies of scope is

Select one:

a.Lower average unit costs by spreading costs across a range of activities

B Lower average unit costs by spreading costs across a larger volume of production

C Higher average prices by adding better features to a product or service

D Diversifying into new global economies

30 As part of a low cost strategy, the best example of "cost avoidance" would be

Select one:

A Find ways to bypass use of high-cost raw materials

B Lowering the company's prices

C Making across the board cuts to payroll costs

D Develop a vertical integration strategy

31 According to the corporate strategy portfolio matrix, a company that has a high market attractiveness and a strong strategic position should use which strategy?

select one:

A Harvest/abandon

B Invest/grow

C Earn/Protect

D Dominate/delay

32 If a company is trying to associate itself with a famous movie star or athlete it is most likely using what type of strates?

Select one:

a.Positioning Strategy

B Competitive strategy

C Low cost strategy

d Differentiation strategy

33 Which is the main disadvantage of a functional organizational structure?

Select one:

A People in the same region are working together

B It allows employees to provide better customer service than other structures

C It creates a high-cost organizational structure

D It can create barriers to communication across department lines

34 A customer structure is an example of what broader category of company structures?

Select one:

a Functional structure

B Divisional structure

C Matrix structure

d Geographic structure

35 All of the following are true except:

Select one:

A A "Batch" Structure usually leads to lower job satisfaction

B. The per-unit cost is usually higher with a "Batch' Structure than a "Sequential Structure"

C . A "Sequential" Structure usually means higher productivity

d Consistency is usually higher with a "Sequential" Structure

E . Job satisfaction is usually higher with a "Batch" structure

36 which organizational structure should be chosen when an organization's markets are widespread, and differences between markets are pread

Select one:

A Functional structure

B Sequential structure

C Matrix structure

d.Geographic structure

37 What are the four components of the Strategy Process Cycle?

Select one:

a. decide, legalize, craft, enthusiasm

b. dream, learn, craft, execute

c diligence, leadership, certainty, excellence d.none of the above are correct

38 What is a reason that implementation is the most difficult aspect of strategic management?

Select one:

A . It requires the largest number of decisions of all the components of strategic management

B . It always involves some degree of novelty

C . It has not been adequately studied yet, so it is still an unknown skill

D . None of the above

39 Which type of organizational structure usually has higher per unit costs and has a higher level of job satisfaction?

Select one:

O

A. Matrix structure

B. Sequential structure

C. Batch structure

D. Variable job structure

40 What problem(s) may occur when corporate culture is too strict?

Select one:

A. Lower job satisfaction

B. Fewer new products

C. Slower responsiveness to industry changes

d. Low acceptance of new technology

e.All of the above