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The role of boards of directors in monitoring the actions and decisions of top executives changed with the passage of


A) the Sarbanes-Oxley Act.
B) NAFTA.
C) the Foreign Corrupt Practices Act.
D) the ADA.

E) A) and C)
F) A) and B)

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Which of the following is a segment of the general environment?


A) Demographic trends
B) Economic conditions
C) Globalization
D) all of the above

E) None of the above
F) A) and C)

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The SWOT analysis is used in which step of the strategic management process?


A) Formulating strategy
B) Implementing strategy
C) Evaluating strategy
D) Analyzing the internal and external environments

E) All of the above
F) A) and B)

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What are the two basic choices when selecting a business-level strategy? Provide examples of each.

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The two basic choices when selecting a b...

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Which level of environmental analysis is the broadest?


A) The general environment
B) The industry
C) The strategic group
D) Direct competitors

E) B) and C)
F) A) and B)

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When Best Buy and Circuit City evaluated the impact of Walmart's move to offer product warranties at half the price, they were engaging in which component of external analysis?


A) Assessing
B) Scanning
C) Monitoring
D) Forecasting

E) A) and D)
F) B) and C)

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Which diversification strategy focuses on a single business operating in a single industry segment?


A) Concentration strategy
B) Vertical integration strategy
C) Concentric diversification strategy
D) Conglomerate diversification strategy

E) A) and B)
F) A) and D)

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The strategic management approach that establishes organizational capabilities for each of the major areas of the business is


A) competitor analysis.
B) resource-based view.
C) functional analysis.
D) value-chain analysis.

E) A) and B)
F) None of the above

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Which of the following is considered a barrier to entry?


A) Strong brand identification already exists in the industry.
B) Intellectual property that is legally protected may keep firms out of the industry.
C) Capital requirements are so high that few firms have the resources to enter.
D) all of the above

E) B) and D)
F) A) and B)

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What is conglomerate diversification? What are its advantages and disadvantages?

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Conglomerate diversification involves ma...

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Which of the following is not an approach for organizations to examine their capabilities?


A) Functional analysis
B) Benchmarking
C) Five forces analysis
D) Value-chain analysis

E) C) and D)
F) A) and B)

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What is portfolio analysis?

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Portfolio analysis is an appro...

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When Visa and MasterCard began to differentiate their cards based on prestige, American Express learned which lesson about strategic management?


A) A firm must remain inflexible with its plan.
B) A firm must plan long-term.
C) When competitors learn how to copy the strategy, a firm has to reformulate to stay ahead.
D) all of the above

E) A) and C)
F) A) and B)

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Which of the following plays a role in strategy implementation?


A) Strategic leadership
B) Human resource strategies
C) Organizational structure and controls
D) all of the above

E) A) and B)
F) B) and C)

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Which of the following factors causes an increase in competitive rivalry?


A) Fast industry growth
B) Undifferentiated services
C) Low exit barriers
D) Fewer number of competitors

E) A) and C)
F) None of the above

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Describe the recommendations of the Boston Consulting Group's Growth-Share Matrix.

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The recommendations of the BCG Matrix ar...

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A group of firms with products that can substitute for one another is referred to as


A) a strategic group.
B) an external environment.
C) a supplier.
D) an industry.

E) All of the above
F) B) and C)

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According to the BCG Matrix, a business unit that is both low in market share and low in market growth is a


A) cow.
B) star.
C) question mark.
D) dog.

E) B) and C)
F) A) and C)

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What is the difference between the firm's strategic intent and strategic mission. How are they related?

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The firm's strategic intent is the inter...

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The threat of new entrants ________ as barriers to entry ________.


A) decreases; decrease
B) increases; decrease
C) decreases; increase
D) increases; increase

E) A) and D)
F) C) and D)

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