a. conducting a SWOT analysis
b. identifying the organization’s competitive advantage
c. formulating the organization’s strategy
d. applying principles of strategic management
ANSWER: c
29. What type of strategy changes incrementally due to environmental changes?
a. intendedb. discarded
c. realizedd. emergent
ANSWER: d
30. The President and CEO of Walmart outlined the company’s overall strategy and all its business interests. The focus of the strategy was on long-term growth and survival. What type of strategy is Walmart adopting?
a. corporateb. business
c. internationald. expansion
ANSWER: a
31. The senior leadership team at Walmart outlined the company’s corporate strategy, which included plans for increasing its products and services. What type of strategy is Walmart adopting?
a. restructuringb. divestiture
c. businessd. growth
ANSWER: d
32. The owner of Whites Barbecues outlined the company’s strategy. The focus of the strategy was concerned with how to build the company’s competitive position. What type of strategy is Whites Barbecues adopting?
a. corporateb. business
c. internationald. expansion
ANSWER: b
33. On the Quality Greens Farm Market website are the words “to make healthy, locally grown farm food products accessible to lower-income residents.” What is this an example of?
a. missionb. vision
c. valuesd. objectives
ANSWER: c
34. What type of objective would include being ethical and environmentally responsible?
a. long-termb. short-term
c. softd. hard
ANSWER: c
35. Which of the following best describes the core values of a company?
a. the organization’s long-term plan
b. the basic direction of the organization
c. the basic beliefs that govern workers’ behaviour in an organization
d. the reason an organization exists
ANSWER: c
36. Cupcasions is a small bakery that crafts and sells gourmet cupcakes and special-occasion cakes. To achieve its business objectives, the managers scan their external environment for threats and opportunities so they can make proactive changes to their strategic plan. What external factors would they scan for?
a. tangible assetsb. business processes
c. changing demographicsd. market leadership
ANSWER: c
37. What is the entire process of conceptualizing the mission of an organization, identifying the strategy, and developing long-range performance goals?
a. strategic planb. strategic intent
c. strategic implementationd. strategic formulation
ANSWER: d
38. Pacific Kayaks Ltd. provides ocean kayaks with distinctive qualities valued by customers. The company attracts customers because it sets itself apart from the competition. It is successful because it has access to leading scientific research on polyethylene, a very abrasion-resistant material used in the construction of its kayaks. The company also has a strong sales and marketing team and a corporate reputation for quality and innovation. What competitive strategy is Pacific Kayaks Ltd. using?
a. low-cost providerb. differentiation
c. market niche with lower costd. focus strategy
ANSWER: b
39. RightWay Fencing Ltd. monitors the technological and economic trends in its external environment as well as its internal assets and resource capabilities. What is it most likely performing?
a. a competitive environment scanb. an environment scan
c. a strategic pland. a SWOT analysis
ANSWER: d
40. SunCore Consulting monitors demographic and labour market trends. It is most likely performing which of the following?
a. a human resource scanb. an environment scan
c. a strategic analysisd. a labour market analysis
ANSWER: b
41. The senior leadership team at Price Warehouse have decided on the competitive position Price Warehouse wants to achieve. Price Warehouse is well positioned to compete for the largest number of customers through the lowest prices. What type of strategy is Price Warehouse adopting?