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Mixed Quiz
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1

Strategic managers recognize that short-run profit maximization is rarely the best approach to achieving sustained corporate growth and profitability.
A)True
B)False
2

One measure of corporate success is relative dominance with customers.
A)True
B)False
3

Managers are most likely to pursue objectives that are consistent with their preferences.
A)True
B)False
4

The Balanced Scorecard is a set of measures that are directly linked to the company's mission.
A)True
B)False
5

Low-cost leaders depend on some fairly unique capabilities to achieve and sustain their differentiation.
A)True
B)False
6

The ability of any firm to operate in the long run depends on attaining an acceptable level of
A)productivity
B)profits
C)revenues
D)sales
7

Which of the following is NOT a criterion that should be used in preparing long-term objectives?
A)Acceptable
B)Marketable
C)Flexible
D)Understandable
8

Which of the following is NOT a perspective used in the Balanced Scorecard?
A)Financial
B)Marketing
C)Learning and growth
D)Internal business process
9

A properly constructed Balanced Scorecard is balanced between
A)short- and long-term measures
B)financial and nonfinancial measures
C)internal and external performance perspectives
D)all of the above
10

According to Michael Porter, striving to create and market unique products for varied customer groups uses the generic strategy of
A)cost leadership
B)differentiation
C)innovation
D)focus
11

Being in a dominant market share position is a capability that supports the generic strategy of
A)overall low-cost leadership
B)differentiation
C)innovation
D)focus
12

A focus strategy attempts to meet the needs of a
A)broad market segment
B)customer group that wants innovative products
C)particular market segment
D)customer group that wants lower prices
13

Master strategies are the same as
A)generic strategies
B)grand strategies
C)functional-level strategies
D)innovative strategies
14

Which of the following is not a grand strategy?
A)Differentiation
B)Concentrated growth
C)Market development
D)Product development
15

_________ is the strategy of the firm that directs its resources to the profitable growth of a single product, in a single market, with a single dominant technology.
A)Overall cost leadership
B)Product development
C)Concentric diversification
D)Concentrated growth
16

A firm's industry being resistant to technology is a condition that supports the grand strategy of
A)overall cost leadership
B)concentrated growth
C)concentric diversification
D)reorganization
17

When a firm's strategy consists of marketing present products, often with only cosmetic modifications, to customers in related market areas by adding channels of distribution or by changing the content of advertising or promotion, it is pursuing
A)differentiation
B)innovation
C)product development
D)market development
18

The grand strategy of __________ eliminates competition and provides access to new markets.
A)concentric diversification
B)vertical integration
C)horizontal integration
D)differentiation
19

Synergistic possibilities occur in the grand strategy of
A)differentiation
B)horizontal integration
C)vertical integration
D)concentric diversification
20

_______ is a specific strategic approach to the production and delivery of products and services.
A)Operational excellence
B)Cost leadership
C)Customer intimacy
D)Product leadership





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