Chapter2: Multiple Choice Questions 1. Which of the following is true about business strategies? a. An organization should stick with its strategy for the life of the business. b. All firms within an industry will adopt the same strategy. c. Well defined missions make strategy development much easier. d. Strategies are formulated independently of SWOT analysis. e. Organizational strategies depend on operations strategies. The fundamental purpose for the existence of any organization is described by its a. policies b. mission c. procedures d. strategy e. tactics Which of the following activities takes place once the mission has been developed? a. The firm develops alternative or back-up missions in case the original mission fails. b. The functional areas develop their functional area strategies. c. The functional areas develop their supporting missions. d. The ten OM decision areas are prioritized. e. Operational tactics are developed. Which of the following statements about organizational missions is false? a. They reflect a company's purpose. b. They indicate what a company intends to contribute to society. c. They are formulated after strategies are known. d. They define a company's reason for existence. e. They provide guidance for functional area missions. The impact of strategies on the general direction and basic character of a company is a. short ranged b. medium range c. long range d. temporal e. minimal The fundamental purpose of an organization's mission statement is to a. create a good human relations climate in the organization b. define the organization's purpose in society c. define the operational structure of the organization d. generate good public relations for the organization e. define the functional areas required by the organization Which of the following is true? a. Corporate mission is shaped by functional strategies. b. Corporate strategy is shaped by functional strategies. c. Functional strategies are shaped by corporate strategy. d. External conditions are shaped by corporate mission. e. Corporate mission is shaped by functional strategies.
According to the authors, which of the following strategic concepts allow firms to achieve their missions? a. productivity, efficiency, and quality leadership b. differentiation, cost leadership, and quick response c. differentiation, quality leadership, and quick response d. distinctive competency, cost leadership, and experience e. differentiation, distinctive competency, quality, leadership, and capacity
9. A firm can effectively use its operations function to yield competitive advantage via all of the following except a. customization of the product b. set equipment utilization goals below the industry average c. speed of delivery d. constant innovation of new products e. maintain a variety of product options 10. Which of the following is not an operations strategy? a. response b. low-cost leadership c. differentiation d. technology e. marketing Which of the following is not a key way in which business organizations compete with one-another? a. production cost b. quality c. product duplication d. flexibility e. time to perform certain activities A strategy is a(n) a. set of opportunities in the marketplace b. broad statement of purpose c. simulation used to test various product line options d. plan for cost reduction e. action plan to achieve the mission Which of the following statements best characterizes delivery reliability? a. a company that always delivers on the same day of the week b. a company that always delivers at the promised time c. a company that delivers more frequently than its competitors d. a company that delivers faster than its competitors e. a company that has a computerized delivery scheduling system Which of the following is an example of competing on the basis of differentiation? a. A firm manufactures its product with less raw material waste than its competitors. b. A firm's...
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