Strategıc Management (ENG) - Tüm Sorular
Ünite 1
Soru 1
"......is the art and science of formulating, implementing, and evaluating crossfunctional decisions that enable an organization to achieve its objectives." Which of the following options should fill in the blank in the sentence?
Seçenekler
A
Environmental changes
B
Strategic management
C
Requires managers
D
Global connectedness
E
Successful business
Açıklama:
Strategic management is the art and science of formulating, implementing, and evaluating crossfunctional decisions that enable an organization to achieve its objectives.
Soru 2
how to explain strategies?
Seçenekler
A
Strategies are the means through which firms achieve short-term objectives.
B
Strategies are the means through which countries achieve short-term efficients.
C
Strategies are the means through which company's planning short-term efficients.
D
Strategies are the means through which firms achieve long-term objectives.
E
Strategies are the means through which managers gaining short-term efficients.
Açıklama:
Strategies are the means through which firms achieve long-term objectives.
Soru 3
"....... is a statement about the reason for the existence of a company
and why it differs from its competitors." Which of the following options should fill in the blank in the sentence?
and why it differs from its competitors." Which of the following options should fill in the blank in the sentence?
Seçenekler
A
Mission
B
Vision
C
Resources
D
Capability
E
Tangible Resources
Açıklama:
Mission is a statement about the reason for the existence of a company
and why it differs from its competitors.
and why it differs from its competitors.
Soru 4
"....... refers to factors that allow a company to produce goods or
services better or more cost-efficient than the competition." Which of the following options should fill in the blank in the sentence?
services better or more cost-efficient than the competition." Which of the following options should fill in the blank in the sentence?
Seçenekler
A
Sustainable competitive
B
Performance level
C
Customer segments
D
Competition oriented
E
Competitive advantage
Açıklama:
Competitive advantage refers to factors that allow a company to produce goods or
services better or more cost-efficient than the competition.
services better or more cost-efficient than the competition.
Soru 5
When did the concept of strategy first enter the field of economics?
Seçenekler
A
In the 1970s.
B
In the 1960s.
C
In the 1950s.
D
In the 1940s.
E
In the 1930s.
Açıklama:
The concept of strategy first entered the field of economics in the 1940s.
Soru 6
"........ is a conception of how the set of strategies will be integrated,
enabling the company to gain a competitive advantage and achieve superior profitability, and profit growth". Which of the following options should fill in the blank in the sentence?
enabling the company to gain a competitive advantage and achieve superior profitability, and profit growth". Which of the following options should fill in the blank in the sentence?
Seçenekler
A
A business model
B
An important concept
C
A implement strategies
D
A customer segment
E
A management model
Açıklama:
A business model is a conception of how the set of strategies will be integrated,
enabling the company to gain a competitive advantage and achieve superior profitability, and profit growth (Hill & Jones, 2010).
enabling the company to gain a competitive advantage and achieve superior profitability, and profit growth (Hill & Jones, 2010).
Soru 7
Which of the following options is not related to the strategy formation phase?
Seçenekler
A
Developing vision and mission statements,
B
Conducting external and internal analyses,
C
Developing long-term goals,
D
Developing short-term gains,
E
Generating, evaluating, and selecting strategies.
Açıklama:
he strategy formulation phase consists of
activities related to;
• developing vision and mission statements,
• conducting external and internal analyses,
• developing long-term goals, and
• generating, evaluating, and selecting strategies.
activities related to;
• developing vision and mission statements,
• conducting external and internal analyses,
• developing long-term goals, and
• generating, evaluating, and selecting strategies.
Soru 8
Under how many groups are the factors in the external analysis analyzed?
Seçenekler
A
Under three groups: examples, ecological and threats.
B
Under two groups: ecological and threats.
C
Under two groups: opportunities and threats.
D
Under two groups: opportunities and external.
E
Under two groups: external and cultural.
Açıklama:
Factors in the external analysis are analyzed under two groups: opportunities and threats.
Soru 9
"....... is the stage of taking action in the strategic management framework." Which of the following options should fill in the blank in the sentence?
Seçenekler
A
External analysis
B
Strategy implementation
C
Internal Analysis
D
Financial organization
E
Strategic process
Açıklama:
Strategy implementation is the stage of taking action in the strategic management framework.
Soru 10
"........ approach seeks the appropriate fit between the environmental forces and the organizational operations." Which of the following options should fill in the blank in the sentence?
Seçenekler
A
Internal analysis
B
Financial difficulties
C
The strategic management
D
Developing vision
E
Management process
Açıklama:
The strategic management approach seeks the appropriate fit between the environmental forces and the organizational operations.
Soru 11
As a result of global connectedness of businesses according to your textbook, as a result such organizations have become … :
Seçenekler
A
More environment driven
B
Transitioned from strategic planning to strategic management
C
Companies realize the disadvantages of Globalization
D
More rigid in their strategic management
E
Less competitive compared to local companies
Açıklama:
The textbook mentions that one result of global connectedness of businesses is that organizations that are integrated in the global business network have become more environment dirven. Especially environmental changes that were caused by global competitiveness or crises pushed businesses to be more flexible.
Soru 12
What is one impact that is mentioned in your textbook that Covid-19 has had on business operations?
Seçenekler
A
A stable period to learn from the environmental changes
B
Companies have transitioned from simple into massive profit structures
C
A devastating impact where managers looked for alternative survival strategies
D
The world economies have entered recession
E
China has surpassed US, UK companies
Açıklama:
According to the textbook businesses struggle due to the crises that come into existence that imply quick adaption to the new and changing market conditions. Covid-19 pandemic is used as an example for such a global crisis that has been devastating for businesses and companies.
Soru 13
What is according to your textbook one side-effect of growing complex business operations and of blurring objectives?
Seçenekler
A
Companies going bankrupt faster
B
Managers discovering new management instruments such as ‘Core Competency Approach’
C
Failure of formulating Business Strategy
D
Departments converting into silos causing inefficiency
E
Evaluation that the Strategy has succeeded
Açıklama:
One side-effect is for businesses where such organizations lose control of their goals and objectives in a complex global environment is that departments become silos. Silos are boxes that do not operate harmoniously with the rest of the company.
Soru 14
Why is a holistic-systematic approach by managers deemed as essential for businesses?
Seçenekler
A
Businesses can master their missions, visions and plan for once and all
B
Businesses can increase profitability whenever environments become feasible
C
Managers can then be strategically orchestrate common goals of the business for all
D
This way managers can assess the consumer better
E
A holistic approach is the new trend
Açıklama:
A holistic approach that is also systematic contributes to strategic management style that enables managers to integrate, coordinate common objectives combining all necessary resources (tangibale as well as intangible) to increase worth of services and products in a global environment.
Soru 15
How is Strategic Management defined in your textbook?
Seçenekler
A
As the art of increasing efficiency
B
As the art and science of formulating, implementing, and evaluating cross functional decisions that enable an organization to achieve its objectives
C
As the art of reducing fear in the global business environment
D
As the science to study Strategic Management as a discipline
E
As the science of mindfulness
Açıklama:
The term 'Strategic Management' is literally provided with a definition in the textbook on page 4. It is this definition that this answers seeks.
Soru 16
What factors are labelled as crucial in your textbook for having the best fit or best strategic management?
Seçenekler
A
External Analysis is considered as sufficient for the best strategic management
B
A SWOT analysis will yield the best strategic management
C
Having set the long term objectives without any analysis is the best method
D
A good analysis according to your book is impossible even with the best tools available
E
A good analysis of the environmental elements, changes and developments, competitors, operations, positioning and resources
Açıklama:
According to the textbook a good analysis is possible. These factors must include the environmental elements, changes and developments, competitors that compete with the business, theiw and own operations, the positioning of ohers business and a sound knowledge of their and own resources
Soru 17
What are the three main characteristics that are considered to be contributing to business success in your textbook for top business strategists?
Seçenekler
A
Be able to anticipate, envision, adapt and align goals
B
Be able to formulate a mission, vision and goals
C
Be able to formulate goals
D
Be able to command the personnel
E
Be able to remain positive under extreme circumstances
Açıklama:
The skill to be able to anticipate, envision, adapt and aligning objectives are considered to be decisive factors for strategists to succeed in their business.
Soru 18
What is meant by the identity of a company?
Seçenekler
A
The formulated vision of a company
B
How a company wishes to produce and use resources effectively
C
Its abilities and what the company can do
D
The identity of a company is the diversity of its employees
E
The identity of a company is the managerial style employed by its managers
Açıklama:
The identity of a company has to do with the capabilities of a company. In other words the identity of a company demosntrates what a company can DO.
Soru 19
Your textbook mentions the company Apple as an example. What is the vision of Apple according to your textbook?
Seçenekler
A
Apple does not require any Strategic Management as it is the wealthiest technology company in the world
B
To increase its tangible resources
C
To increase cheap labour around the world
D
The decrease the quality of its products and services by offshoring these to cheap labour countries
E
Bringing the world to its customers
Açıklama:
Appl INC's vision is 'Bringing the world to its customers'.
Soru 20
What factors contributed to an ever more complex business environment?
Seçenekler
A
Environment being subject to increasing competitive pressure and critical consumers
B
Globalization and the Covid-19 pandemic
C
Innovation and technological advances
D
Returning back to classic strategic planning
E
Financial crises that occurred in 2008
Açıklama:
On page 10 it is stated that the global business environment has become ever more complex due to increasing competitive pressure and critical consumers.
Soru 21
Which one of the following is not among the basics of strategic management?
Seçenekler
A
Environment
B
Strategic thinking
C
Competitive advantage
D
Commitment to specific markets
E
Sustainability
Açıklama:
The basics of strategic management includes Environment, Competitive advantage, Sustainability, Resources Capabilities Core competencies and Strategic thinking & Strategist
Soru 22
"__________________ is the matching of opportunities with corporate resources to envision the future direction that leads to improved corporate performance and enhanced competitive advantage."
Which one of the following terms completes the above sentence correctly?
Which one of the following terms completes the above sentence correctly?
Seçenekler
A
Strategy
B
Strategic leadership
C
Strategic thinking
D
Strategist
E
Strategy
Açıklama:
Strategic thinking is the matching of
opportunities with corporate resources to
envision the future direction that leads
to improved corporate performance and
enhanced competitive advantage.
opportunities with corporate resources to
envision the future direction that leads
to improved corporate performance and
enhanced competitive advantage.
Soru 23
I. Labour
II. Copyright
III. Technology
Which one(s) of the above items is/are considered as intangible resources?
II. Copyright
III. Technology
Which one(s) of the above items is/are considered as intangible resources?
Seçenekler
A
Only I
B
Only II
C
Only III
D
I-II
E
II-III
Açıklama:
Tangible resources are more visible and physical such as land, labor, or technology;
Intangible resources such as intellectual property, know-how, and copyright have no physical characteristics.
Intangible resources such as intellectual property, know-how, and copyright have no physical characteristics.
Soru 24
Which one of the following refers to the processes that a company performs more efficiently and effectively than its competitors in a market?
Seçenekler
A
Core competencies
B
Tangible resources
C
Intangible resources
D
Strategies
E
Missions
Açıklama:
Core competencies are processes that a
company performs more efficiently and
effectively than its competitors in a market.
company performs more efficiently and
effectively than its competitors in a market.
Soru 25
"A company has a ___________________ when its strategies enable it to maintain above-average profitability for an extended period of time."
Which one of the following completes the above sentence correctly?
Which one of the following completes the above sentence correctly?
Seçenekler
A
sustainable competitive advantage
B
capability
C
vision
D
mission
E
strategic leadership
Açıklama:
A company has a sustainable competitive
advantage when its strategies enable it to maintain
above-average profitability for an extended period
of time (Hill & Jones, 2010, p. 6).
advantage when its strategies enable it to maintain
above-average profitability for an extended period
of time (Hill & Jones, 2010, p. 6).
Soru 26
When did the concept of strategy first enter the field of economics?
Seçenekler
A
1930s
B
1940s
C
1950s
D
1960s
E
1970s
Açıklama:
The concept of strategy first entered the field of
economics in the 1940s. In the following decades,
the business world started using the idea of
strategic thinking.
economics in the 1940s. In the following decades,
the business world started using the idea of
strategic thinking.
Soru 27
Which one of the following terms pertains to a set of capabilities used to respond to various demands and opportunities existing in a dynamic and uncertain competitive environment?
Seçenekler
A
Strategic flexibility
B
Business model
C
Globalization
D
Competitive advantage
E
Capability
Açıklama:
Strategic flexibility pertains to a set of
capabilities used to respond to various
demands and opportunities existing in
a dynamic and uncertain competitive
environment
capabilities used to respond to various
demands and opportunities existing in
a dynamic and uncertain competitive
environment
Soru 28
I. Where are we now?
II. Where do we want to reach?
III. When do we want to reach there?
Which one(s) of these questions is/are among the ones strategists seek answers to in the strategic planning process?
II. Where do we want to reach?
III. When do we want to reach there?
Which one(s) of these questions is/are among the ones strategists seek answers to in the strategic planning process?
Seçenekler
A
Only I
B
Only II
C
Only III
D
I-II
E
I-III
Açıklama:
In the strategic planning process,
strategists seek answers to these three questions:
1. Where are we now?
2. Where do we want to reach? and
3. How do we get there?
strategists seek answers to these three questions:
1. Where are we now?
2. Where do we want to reach? and
3. How do we get there?
Soru 29
Which one of the following is not among the activities the strategy formulation phase consists of?
Seçenekler
A
developing vision and mission statements
B
conducting external and internal analyses
C
developing long-term goals
D
generating, evaluating, and selecting strategies
E
expanding the activity areas
Açıklama:
The strategy formulation phase consists of activities related to;
• developing vision and mission statements,
• conducting external and internal analyses,
• developing long-term goals, and
• generating, evaluating, and selecting
strategies.
• developing vision and mission statements,
• conducting external and internal analyses,
• developing long-term goals, and
• generating, evaluating, and selecting
strategies.
Soru 30
Which one of the following is a success factor in strategic management?
Seçenekler
A
Top managers’ negative approach to strategic management based on costs
B
Inclusive management style and visible leadership
C
Poor coordination across the organization
D
Incompatible top managers
E
Lack of transparency and correct information by various stakeholders
Açıklama:
Inclusive management style and visible leadership is one of the success factors. The others are the reasons of failure.
Ünite 2
Soru 1
What is one of the starting point of the strategic management actions?
Seçenekler
A
The development of a mission
B
Setting a budget
C
determining the numbers of workers
D
Creating the horizontal organizational values
E
Creating the vertical organizational values
Açıklama:
To take a look to strategic Management
The starting point of the strategic management actions is the development of a mission, setting a vision, determining the goals and objectives, and creating the organizational values all of which constitute firms’ strategic intent.
The starting point of the strategic management actions is the development of a mission, setting a vision, determining the goals and objectives, and creating the organizational values all of which constitute firms’ strategic intent.
Soru 2
A vision statement is not only used... (complete the sentence)
Seçenekler
A
the compass of budget
B
the compass of businesses
C
the compass of guides
D
guides them to reach their desired destination
E
A vision is first to identify
Açıklama:
To take alook to vision statement
One of the critical components of strategic intent is the vision statement. A vision is the compass of businesses and guides them to reach their desired destination in the future. In the strategic management process, a vision statement is first to identify. The vision statement should be clear, understandable, and comprehensive. In this section, the meaning and importance of vision are reviewed, and the development process of the vision statement is provided.
One of the critical components of strategic intent is the vision statement. A vision is the compass of businesses and guides them to reach their desired destination in the future. In the strategic management process, a vision statement is first to identify. The vision statement should be clear, understandable, and comprehensive. In this section, the meaning and importance of vision are reviewed, and the development process of the vision statement is provided.
Soru 3
What is the meaning of the mission?
Seçenekler
A
the reason for the existence of a business
B
starting point in the budget management process
C
starting point in the trancparency management process
D
starting point in the external duties management process
E
starting point in the einternal duties management process
Açıklama:
To take a look to mission analysis
The mission, which is the reason for the existence of a business, is also an important starting point in the strategic management process. It provides a framework or context in which strategies are formulated. In this section, the concept, components, and features of the mission are explained, and mission statement examples are presented
The mission, which is the reason for the existence of a business, is also an important starting point in the strategic management process. It provides a framework or context in which strategies are formulated. In this section, the concept, components, and features of the mission are explained, and mission statement examples are presented
Soru 4
What does a business model present?
Seçenekler
A
How an organization will succeed
B
How an individual will succeed
C
How a finance department will succeed
D
How a human resources will succeed
E
How a CEO (a chief executive officer) will succeed
Açıklama:
To understant the meaning of Business Model
A business model presents how an organization will succeed and includes the factors that essentially define a business. It is a way to make money in a firm’s current business environment to accomplish that mission and achieve its goal
A business model presents how an organization will succeed and includes the factors that essentially define a business. It is a way to make money in a firm’s current business environment to accomplish that mission and achieve its goal
Soru 5
Which model offers its basic product free to make money on advertising?
Seçenekler
A
Advertising model
B
Profit pyramid model
C
Multi-component system
D
Finance pyramid model
E
Budget pyramid model
Açıklama:
To understant the meaning of Business Model
Customer solutions model: This model is used to make money not by selling products, but by selling its expertise to improve the operations of its customers. • Profit pyramid model: This model is a method designed to close niches where an opponent can find a position. • Multi-component system / installed base model: The product is a system, not just one product, with one component providing most of the profits. • Advertising model: This model offers its basic product free to make money on advertising.
Customer solutions model: This model is used to make money not by selling products, but by selling its expertise to improve the operations of its customers. • Profit pyramid model: This model is a method designed to close niches where an opponent can find a position. • Multi-component system / installed base model: The product is a system, not just one product, with one component providing most of the profits. • Advertising model: This model offers its basic product free to make money on advertising.
Soru 6
How can objectives be divided into?
Seçenekler
A
Financial and strategic objectives
B
Only financial objectives
C
Only strategic objectives
D
Only long-term objectives
E
Only short-term objectives
Açıklama:
To understant to Financial and Strategic Objectives
Objectives can be divided into financial and strategic objectives, as well as long-term and short-term objectives.
Objectives can be divided into financial and strategic objectives, as well as long-term and short-term objectives.
Soru 7
What is the main problem of a narrow organizational mission?
Seçenekler
A
limits the evaluation of strategic opportunities
B
limits the evaluation of financial opportunities
C
limits the evaluation of economic opportunities
D
limits the evaluation of large corporation opportunities
E
limits the evaluation of company's function opportunities
Açıklama:
To take al look to Development of a Mission Statement
A narrow organizational mission may have a disadvantage that it limits the evaluation of strategic opportunities created by environmental changes
A narrow organizational mission may have a disadvantage that it limits the evaluation of strategic opportunities created by environmental changes
Soru 8
What does the mission describe?
Seçenekler
A
The mission describes why a firm exists
B
The mission describes an external party
C
The mission describes a vision statement
D
The mission describes business values, and approaches.
E
The mission describes approaches
Açıklama:
To take a look the meaining of The Definition and Importance of the Mission
The mission describes why a firm exists and what aims it serves. The mission of an organization seeks answers to the question as to what an organization does, for whom it does, and why it exists.
The mission describes why a firm exists and what aims it serves. The mission of an organization seeks answers to the question as to what an organization does, for whom it does, and why it exists.
Soru 9
Who are not key organizational stakeholders?
Seçenekler
A
International organizations
B
Stockholders
C
Bondholders
D
Customers
E
The communities
Açıklama:
Take a look to organizational values
Key organizational stakeholders that include stockholders, bondholders, employees, customers, the communities in which the company does business, and the public.
Key organizational stakeholders that include stockholders, bondholders, employees, customers, the communities in which the company does business, and the public.
Soru 10
What is the main characteristic of a product-oriented business definition?
Seçenekler
A
The products sold
B
The process
C
The technology
D
The statement of purpose
E
The organization line
Açıklama:
To understant the meaning of Business Definition
A product-oriented business definition focuses on the characteristics of the products sold and market served. As a result, companies should make their business definitions that include the important factors such as customer, product, market, process, and technology etc.
A product-oriented business definition focuses on the characteristics of the products sold and market served. As a result, companies should make their business definitions that include the important factors such as customer, product, market, process, and technology etc.
Soru 11
Strategic intent is defined as the nature or features of the direction that needs to be taken to attain the long-term strategic position that the ___________________ wishes to achieve.
Which of the following completes the sentence above?
Which of the following completes the sentence above?
Seçenekler
A
manager
B
worker
C
enterprise
D
decision maker
E
factory
Açıklama:
THE CONCEPT OF STRATEGIC INTENT
Strategic intent is defined as the nature or features of the direction that needs to be taken to attain the long-term strategic position that the enterprise wishes to achieve.
Strategic intent is defined as the nature or features of the direction that needs to be taken to attain the long-term strategic position that the enterprise wishes to achieve.
Soru 12
Which of the following is not one of the activities in creating and implementing the strategic intent?
Seçenekler
A
defining an organizational vision
B
creating a mission
C
specifying goals and objectives
D
developing international values
E
making strategic plans
Açıklama:
THE CONCEPT OF STRATEGIC INTENT
Creating and implementing the strategic intent comprise of the following activities: • defining an organizational vision, • creating a mission, • specifying goals and objectives, • developing organizational values, The last step is to create and communicate the intent at all levels of the organization, making strategic plans, and actions for achieving the intent.
Creating and implementing the strategic intent comprise of the following activities: • defining an organizational vision, • creating a mission, • specifying goals and objectives, • developing organizational values, The last step is to create and communicate the intent at all levels of the organization, making strategic plans, and actions for achieving the intent.
Soru 13
I. In the strategic management process, it is first to identify.
II. It should be clear, understandable, and comprehensive.
Which term is described above?
II. It should be clear, understandable, and comprehensive.
Which term is described above?
Seçenekler
A
Vision statement
B
Mission
C
Core value
D
Strategic intent
E
Purpose
Açıklama:
Vision Analysis
A vision is the compass of businesses and guides them to reach their desired destination in the future. In the strategic management process, a vision statement is first to identify.
A vision is the compass of businesses and guides them to reach their desired destination in the future. In the strategic management process, a vision statement is first to identify.
Soru 14
The vision statement, which takes place in strategic management in many enterprises, is prepared by a strategic _______________.
Seçenekler
A
worker
B
staff
C
employee
D
leader
E
member
Açıklama:
Vision Analysis
The vision statement, which takes place in strategic management in many enterprises, is prepared by a strategic leader.
The vision statement, which takes place in strategic management in many enterprises, is prepared by a strategic leader.
Soru 15
Which one of the following is not one of the criteria for judging the relevance and appropriateness of a vision statement?
Seçenekler
A
Foresight
B
Breadth
C
Uniqueness
D
Consensus
E
Readability
Açıklama:
Vision Analysis
Hamel and Prahalad (1994) have suggested five criteria; foresight, breadth, uniqueness, consensus, and actionability, for judging the relevance and appropriateness of a vision statement.
Hamel and Prahalad (1994) have suggested five criteria; foresight, breadth, uniqueness, consensus, and actionability, for judging the relevance and appropriateness of a vision statement.
Soru 16
I. It describes why a firm exists and what aims it serves.
II. It seeks answers to the question as to what an organization does, for whom it does, and why it exists.
III. While defining the job done, it also reveals the common values and feelings that set you apart from your competitors.
IV. While it is trying to find answers to those questions, it also answers the questions of our business philosophy, common values, and approaches that set us apart from similar companies.
V. While it defines our business, it includes the characteristics that set us apart from our competitors.
Which term is described by the above sentences?
II. It seeks answers to the question as to what an organization does, for whom it does, and why it exists.
III. While defining the job done, it also reveals the common values and feelings that set you apart from your competitors.
IV. While it is trying to find answers to those questions, it also answers the questions of our business philosophy, common values, and approaches that set us apart from similar companies.
V. While it defines our business, it includes the characteristics that set us apart from our competitors.
Which term is described by the above sentences?
Seçenekler
A
Vision
B
Mission
C
Strategy
D
Value
E
Philosophy
Açıklama:
Mission Analysis
The mission describes why a firm exists and what aims it serves. The mission of an organization seeks answers to the question as to what an organization does, for whom it does, and why it exists. While defining the job done, the mission also reveals the common values and feelings that set you apart from your competitors. While the mission is trying to find answers to those questions, it also answers the questions of our business philosophy, common values, and approaches that set us apart from similar companies. While the mission defines our business, it includes the characteristics that set us apart from our competitors.
The mission describes why a firm exists and what aims it serves. The mission of an organization seeks answers to the question as to what an organization does, for whom it does, and why it exists. While defining the job done, the mission also reveals the common values and feelings that set you apart from your competitors. While the mission is trying to find answers to those questions, it also answers the questions of our business philosophy, common values, and approaches that set us apart from similar companies. While the mission defines our business, it includes the characteristics that set us apart from our competitors.
Soru 17
A clear mission gives ______________ to an organization and shows where it will go. It also helps all its stakeholders _______________ why the business exists and what it does.
Seçenekler
A
direction/understand
B
method/accept
C
way/understand
D
hope/realize
E
service/inspire
Açıklama:
Mission Analysis
A clear mission gives direction to an organization and shows where it will go.
A clear mission helps all its stakeholders understand why the business exists and what it does.
A clear mission gives direction to an organization and shows where it will go.
A clear mission helps all its stakeholders understand why the business exists and what it does.
Soru 18
Which of the following is not one of the characteristics of a mission statement?
Seçenekler
A
Inspiring
B
Identifies the utility of a firm’s products
C
Includes monetary amounts
D
Reveals that the firm is socially responsible
E
Reveals that the firm is environmentally responsible
Açıklama:
Mission Analysis
Characteristics of a Mission Statement
Characteristics of a Mission Statement
- Broad in scope does not include monetary amounts, numbers, percentages, ratios, or objectives
- Fewer than 150 words in length
- Inspiring
- Identifies the utility of a firm’s products
- Reveals that the firm is socially responsible
- Reveals that the firm is environmentally responsible
- Includes nine components: customer, products or services, markets, technology, concern for survival/ growth/profits, philosophy, self-concept, concern for public image, concern for employees
- Reconciliatory
- Enduring
Soru 19
“This model is used to make money not by selling products, but by selling its expertise to improve the operations of its customers”.
Which model is described above?
Which model is described above?
Seçenekler
A
Advertising model
B
Customer solutions model
C
Profit pyramid model
D
Time model
E
Efficiency model
Açıklama:
Mission Analysis
Customer solutions model: This model is used to make money not by selling products, but by selling its expertise to improve the operations of its customers.
Customer solutions model: This model is used to make money not by selling products, but by selling its expertise to improve the operations of its customers.
Soru 20
_____________________________ are beliefs about socially or personally desirable end states or actions that are explicitly or implicitly shared by members of an organization.
Which of the following completes the sentence above?
Which of the following completes the sentence above?
Seçenekler
A
Goals and objectives
B
Financial and strategic objectives
C
Organizational Values
D
Business philosophies
E
Visions of a company
Açıklama:
Organizational Values: Beliefs about socially or personally desirable end states or actions that are explicitly or implicitly shared by members of an organization.
Ünite 3
Soru 1
_______ is the environment that includes constituents with direct involvement with the firm.
Which of the following completes the sentence above?
Which of the following completes the sentence above?
Seçenekler
A
Industry environment
B
General environment
C
Macro environment
D
Political environment
E
Economic environment
Açıklama:
Industry environment, also called a task, near or microenvironment, is the environment that includes constituents with direct involvement with the firm.
Soru 2
Which of the following is among the main constituents of industry environment?
Seçenekler
A
Government
B
Banks
C
Financial institutions
D
Labour unions
E
Customers
Açıklama:
The dimensions that make up the industry environment
can be classified as three main constituents.
1. Customers
2. Competitors
3. Suppliers
can be classified as three main constituents.
1. Customers
2. Competitors
3. Suppliers
Soru 3
Which of the following is among the political factors?
Seçenekler
A
Class Structure
B
Legislation
C
Change in lifestyle
D
Export and import figures
E
Greenhouse gas emissions
Açıklama:
Legislation is among the political factors.
Soru 4
Which of the following is among the socio-cultural factors?
Seçenekler
A
Trade Regulations and Tariffs
B
Total GDP and GDP per head
C
Government and EU investment policy
D
Attitudes to work and leisure
E
Solid waste reproduced
Açıklama:
Attitudes to work and leisure is among the socio-cultural factors.
Soru 5
Which of the following is among the technological factors?
Seçenekler
A
Level and type of energy consumed
B
Rubbish, waste, and its disposal
C
New patents and products
D
Unemployment
E
Distribution of income
Açıklama:
New patents and products are among the technological factors.
Soru 6
Which of the following is not among the basic activities that businesses should pay attention to in the external environment analysis?
Seçenekler
A
Scanning
B
Monitoring
C
Forecasting
D
Assessing
E
Leading
Açıklama:
Leading is not among the basic activities that businesses should pay attention to in the external environment analysis.
Soru 7
_______ is the process of gathering data by examining the changes in the external
environment of the firm.
Which of the following completes the sentence above?
environment of the firm.
Which of the following completes the sentence above?
Seçenekler
A
Scanning
B
Forecasting
C
Leading
D
Assessing
E
Monitoring
Açıklama:
Environmental scanning is the process of gathering data by examining the changes in the external environment of the firm.
Soru 8
Which of the following is not among the qualitative forecasting techniques?
Seçenekler
A
Brainstorming
B
Histograms
C
In-depth interviewing
D
Delphi Technique
E
Expert opinion
Açıklama:
Histograms are statistical and quantitative tools.
Soru 9
Which of the following is not among the main purposes of an industry analysis?
Seçenekler
A
To review the factors that influence the way the industry develops
B
To investigate the status of competitors
C
To increase efficiency
D
To detect threats
E
To understand the firm’s position
Açıklama:
The main purposes of an industry analysis are:
1. to review the factors that influence the way
the industry develops,
2. to investigate the status of competitors,
3. to detect what threats or opportunities they
create for the firm,
4. to understand the firm’s position relative to
other participants in the industry.
To increase efficiency
1. to review the factors that influence the way
the industry develops,
2. to investigate the status of competitors,
3. to detect what threats or opportunities they
create for the firm,
4. to understand the firm’s position relative to
other participants in the industry.
To increase efficiency
Soru 10
Which of the following is not a part of the Porter’s Five Forces Competition Model?
Seçenekler
A
Threat of substitutes
B
Intensity of rivalry
C
Threat of new entrants
D
Bargaining power of buyers
E
Bargaining power of unions
Açıklama:
Bargaining power of unions is not a part of Porter’s Five Forces Competition Model.
Soru 11
I. Businesses that closely follow the current developments around them can easily see threats and opportunities.
II. Businesses that invest in global warming and climate change issues today may become market leaders in the future.
III. Businesses operating in a competitive industry that only focus on the internal environment may fail in a short time.
Which of the above is/are correct?
II. Businesses that invest in global warming and climate change issues today may become market leaders in the future.
III. Businesses operating in a competitive industry that only focus on the internal environment may fail in a short time.
Which of the above is/are correct?
Seçenekler
A
Only I
B
I and II
C
II and III
D
I and III
E
I, II and III
Açıklama:
Businesses that closely follow the current developments around them can easily see threats and opportunities. Businesses that invest in global warming and climate change issues today may become market leaders in the future. Businesses operating in a competitive industry that only focus on the internal environment may fail in a short time.
Soru 12
I. Increasing consumer consciousness
II. Competitive pressures
III. Technological developments
Which of the factors above have pushed companies to act differently from what they used to do in the past?
II. Competitive pressures
III. Technological developments
Which of the factors above have pushed companies to act differently from what they used to do in the past?
Seçenekler
A
Only I
B
I and II
C
II and III
D
I and III
E
I, II and III
Açıklama:
Today, the business environment is very complex. Increasing consumer consciousness, competitive pressures, and technological developments have pushed companies to act differently from what they used to do in the past.
Soru 13
I. Changeability of markets
II. Predictability of changes
III. Changeability of internal factors
Which of the following can be considered as environmental factors affecting the company?
II. Predictability of changes
III. Changeability of internal factors
Which of the following can be considered as environmental factors affecting the company?
Seçenekler
A
Only I
B
I and II
C
II and III
D
I and III
E
I, II and III
Açıklama:
The environmental factors affecting the firm can be assessed according to two main measures (Lynch, 2006): 1. Changeability of markets - For example, there is relatively low changeability in the bottled water market but the possibility of high changeability in the PC market. 2. Predictability of changes - Unpredictability refers to a lack of regularity in the pattern of change in an environment (Miller et al., 2006, p. 104). For example, firms can predict changes with some certainty in the smart devices market but firms operating in biogenetics cannot predict changes easily.
Soru 14
I. Customers
II. Competitors
III. Suppliers
Which of the above is/are among the dimensions that make up the industry environment?
II. Competitors
III. Suppliers
Which of the above is/are among the dimensions that make up the industry environment?
Seçenekler
A
Only I
B
I and II
C
II and III
D
I and III
E
I, II and III
Açıklama:
The dimensions that make up the industry environment can be classified as three main constituents.
1. Customers
2. Competitors
3. Suppliers
1. Customers
2. Competitors
3. Suppliers
Soru 15
I. Trade Regulations and Tariffs
II. Political parties and alignments
III. Legislation (e.g. on taxation)
Which of the above is/are among the political factors that affect the General Environment?
II. Political parties and alignments
III. Legislation (e.g. on taxation)
Which of the above is/are among the political factors that affect the General Environment?
Seçenekler
A
Only I
B
I and II
C
II and III
D
I and III
E
I, II and III
Açıklama:
Political Factors affecting the General Environment are:
- Trade Regulations and Tariffs
- Political parties and alignments
- Legislation (e.g. on taxation)
- Relations between the government and the organization (possibly influencing the preceding items in a major way and forming a part of the future corporate strategy)
- Government ownership of industry and attitude to monopolies and competition
- Antitrust Laws
- Competition law and government policy
- Employment and safety law
- Pricing Regulations
- Trade Regulations and Tariffs
- Political parties and alignments
- Legislation (e.g. on taxation)
- Relations between the government and the organization (possibly influencing the preceding items in a major way and forming a part of the future corporate strategy)
- Government ownership of industry and attitude to monopolies and competition
- Antitrust Laws
- Competition law and government policy
- Employment and safety law
- Pricing Regulations
Soru 16
I. Export and import figures
II. Inflation
III. Unemployment
IV. Education and health
Which of the above is/are among the economic factors affecting the General Environment?
II. Inflation
III. Unemployment
IV. Education and health
Which of the above is/are among the economic factors affecting the General Environment?
Seçenekler
A
Only I
B
I and II
C
I, II and III
D
I, III and IV
E
I, II, III and IV
Açıklama:
Education and health is a socio-cultural factor which affect the general environment.
Soru 17
Which of the following is not among the basic activities that businesses should pay attention to in the external environment analysis to predict possible threats and evaluate opportunities?
Seçenekler
A
Scanning
B
Monitoring
C
Calculating
D
Forecasting
E
Assessing
Açıklama:
There are four basic activities that businesses should pay attention to in the external environment analysis to predict possible threats and evaluate opportunities. These are scanning, monitoring, forecasting, and assessing. Each activity is interlinked and needs to be performed one after another. Firms cannot go a step further without performing previous activities.
Soru 18
Which of the following is not true?
Seçenekler
A
Environmental scanning is the process of gathering data by examining the changes in the external environment of the firm.
B
Through scanning, businesses determine the current appearance of the external environment and identify possible changes in advance.
C
Environmental scanning often reveals ambiguous, incomplete, or disconnected data and information.
D
Environmental scanning includes data that are easy to obtain.
E
Data collection and scanning will not benefit the business unless they are performed regularly.
Açıklama:
Environmental scanning is the process of gathering data by examining the changes in the external environment of the firm. This process of conducting research and gathering external information is sometimes called industry analysis (David & David, 2017, p.39). Through scanning, businesses determine the current appearance of the external environment and identify possible changes in advance. Environmental scanning often reveals ambiguous, incomplete, or disconnected data and information (Schwarz, 2008). In this respect, environmental scanning includes data that are difficult to obtain. Data collection and scanning will not benefit the business unless they are performed regularly. Therefore, firms must carry out scanning activities continuously because it changes so frequently. This is important especially for firms operating in a highly competitive environment.
Soru 19
I. A “microenvironment” is the environment where companies sell their products or services, interact with competitors, and provide the materials they need for the production process.
II. The industry environment is sometimes referred to as the “operation environment”.
III. Activities of firms within an industry directly or indirectly affect other businesses.
Which of the above propositions is/are correct?
II. The industry environment is sometimes referred to as the “operation environment”.
III. Activities of firms within an industry directly or indirectly affect other businesses.
Which of the above propositions is/are correct?
Seçenekler
A
Only I
B
I and II
C
II and III
D
I and III
E
I, II and III
Açıklama:
A “microenvironment” is the environment where companies sell their products or services, interact with competitors, and provide the materials they need for the production process. Therefore, the industry environment is sometimes referred to as the “operation environment”. Activities of firms within an industry directly or indirectly affect other businesses. This is due to businesses operating in the same industry that generally target similar consumer groups.
Soru 20
I. To review the factors that influence the way the industry develops,
II. To investigate the status of competitors,
III. To detect what threats or opportunities they create for the firm,
IV. To understand the firm’s position relative to other participants in the industry.
Which of the above is/are among the main purposes of an industry analysis?
II. To investigate the status of competitors,
III. To detect what threats or opportunities they create for the firm,
IV. To understand the firm’s position relative to other participants in the industry.
Which of the above is/are among the main purposes of an industry analysis?
Seçenekler
A
Only I
B
I and II
C
II and III
D
I, II and IV
E
I, II, III and IV
Açıklama:
Porter’s Five Forces model allows us to describe the attractiveness of an industry. This type of competition analysis refers to a strategic research type; it is the process of collecting data and analyzing that data about the competitors. The main purposes of an industry analysis are:
1. to review the factors that influence the way the industry develops,
2. to investigate the status of competitors,
3. to detect what threats or opportunities they create for the firm,
4. to understand the firm’s position relative to other participants in the industry.
1. to review the factors that influence the way the industry develops,
2. to investigate the status of competitors,
3. to detect what threats or opportunities they create for the firm,
4. to understand the firm’s position relative to other participants in the industry.
Ünite 4
Soru 1
_______________ is conducted to provide management a comprehensive understanding of the business, the current strategies’ effectiveness on reaching the goals?
Seçenekler
A
External analysis
B
Sampling
C
Auditing
D
Internal analysis
E
Forecasting
Açıklama:
Internal analysis
Soru 2
Which one of the following is not a reason why organizations carry out an internal analysis for their businesses?
Seçenekler
A
to identify resources
B
to evaluate how effectively value-adding activities are not organized
C
to identify areas of weaknesses to be addressed
D
to evaluate the performance of products
E
to evaluate investment potential if finance is being sought from external sources;
Açıklama:
Some or all of the following reasons are why organizations carry out an internal analysis for their businesses (Campbell et al., 2002);
• to evaluate the performance of products;
• to evaluate financial performance, particularly in comparison with competitors;
• to evaluate investment potential if finance is being sought from external sources;
• as a first step in assessing the suitability, feasibility, and acceptability of future strategies.
- to identify resources, competences, and core competencies to be developed and exploited;
- to evaluate how effectively value-adding activities are organized;
• to evaluate the performance of products;
• to evaluate financial performance, particularly in comparison with competitors;
• to evaluate investment potential if finance is being sought from external sources;
• as a first step in assessing the suitability, feasibility, and acceptability of future strategies.
Soru 3
Which one of the following can not be the subject of internal analysis?
Seçenekler
A
Resource analysis
B
Performance analysis
C
Human resources and culture
D
Financial performance
E
Taxing issues
Açıklama:
Some or all of the following aspects of a business or organization can be the subject of internal analysis:
- Resource analysis,
- Competence audit and analysis, and the sources of distinctive capabilities,
- Internal activities analysis using porter’s value chain framework,
- Performance analysis (evaluating performance using financial/non-financial indicators),
- Human resources and culture,
- Financial resources and financial performance,
- Products and their positions in markets.
Soru 4
How many steps are there for internal analysis?
Seçenekler
A
one
B
two
C
three
D
four
E
five
Açıklama:
Internal analysis is a three-step process (Hill & Jones, 2010; p.74):
Soru 5
To be competitive and profitable, managers must look for the firm’s existing resources and _____________?
Seçenekler
A
Taxes
B
Markets
C
Products
D
Workers
E
Capabilities
Açıklama:
To be competitive and profitable, managers must look for the firm’s existing resources and capabilities because this can be much easier and less costly then searching for new ones outside. Managing and leveraging these resources effectively and creatively can give the firm a competitive edge over its competitors.
Soru 6
When a company has a long-lasting business advantage against competing firms that is a significant edge over the competition, it is said to have a ___________?
Seçenekler
A
Strong market
B
Competitive advantage
C
Better product
D
Sustainability
E
Taxing
Açıklama:
When a company has a long-lasting business advantage against competing firms that is a significant edge over the competition, it is said to have a competitive advantage.
Soru 7
Which one of the following is not a question to answer a firm’s ability to create competitive advantage through capitalizing on resources or capabilities?
Seçenekler
A
Does the resource or capability have value in the market?
B
Is the resource or capability unique?
C
Is there a readily available substitute for the resource or capability?
D
Do organizational systems exist that allow the realization of the potential?
E
Does the product have support in the developing markets?
Açıklama:
According to Enz (2010), a firm’s ability to create competitive advantage through capitalizing on resources or capabilities depends on the answers to the following six questions:
1. Does the resource or capability have value in the market? These types of resources allow a firm to exploit opportunities and/or neutralize threats.
2. Is the resource or capability unique? If an organization is the only one with a particular resource or capability, then it may be a source of competitive advantage. If numerous organizations possess a particular resource or capability, then the situation is described as competitive parity - no company has the advantage. Note that uniqueness does not mean that only one organization possesses a capability or resource - only that few firms do. The uniqueness dimension also implies that a resource or capability is not easily transferable. That is, it is not readily available in the market for purchase.
3.Is there a readily available substitute for the resource or capability? Sometimes, competing organizations may not have the exact resource or capability, but they have easy access to another resource or capability that will help them accomplish the same results. For example, some car rental companies have arrangements with airports that allow them to lease space on the airport premises. This provides a location benefit. However, the benefit is not as large as it could be because competitors offer frequent and convenient shuttle service to car rental lots just outside these airports. Positive answers to the first two questions and a negative answer to the third question mean that a resource or capability has the potential to lead to a competitive advantage for the firm. However, that potential is not realized unless two other questions are also answered in the affirmative:
4 Do organizational systems exist that allow the realization of the potential? For the potential to be realized, the firm must also be organized to take advantage of it. Disney is a master of exploiting profit potential from its animated features. Even before a movie is released, toys featuring the major characters and soundtrack are available for purchase. Characters quickly become part of parades and shows at Disney’s theme parks, and sometimes a major attraction or ride is developed.
1. Does the resource or capability have value in the market? These types of resources allow a firm to exploit opportunities and/or neutralize threats.
2. Is the resource or capability unique? If an organization is the only one with a particular resource or capability, then it may be a source of competitive advantage. If numerous organizations possess a particular resource or capability, then the situation is described as competitive parity - no company has the advantage. Note that uniqueness does not mean that only one organization possesses a capability or resource - only that few firms do. The uniqueness dimension also implies that a resource or capability is not easily transferable. That is, it is not readily available in the market for purchase.
3.Is there a readily available substitute for the resource or capability? Sometimes, competing organizations may not have the exact resource or capability, but they have easy access to another resource or capability that will help them accomplish the same results. For example, some car rental companies have arrangements with airports that allow them to lease space on the airport premises. This provides a location benefit. However, the benefit is not as large as it could be because competitors offer frequent and convenient shuttle service to car rental lots just outside these airports. Positive answers to the first two questions and a negative answer to the third question mean that a resource or capability has the potential to lead to a competitive advantage for the firm. However, that potential is not realized unless two other questions are also answered in the affirmative:
4 Do organizational systems exist that allow the realization of the potential? For the potential to be realized, the firm must also be organized to take advantage of it. Disney is a master of exploiting profit potential from its animated features. Even before a movie is released, toys featuring the major characters and soundtrack are available for purchase. Characters quickly become part of parades and shows at Disney’s theme parks, and sometimes a major attraction or ride is developed.
Soru 8
Which of the following is a part of the Human resources components of resource-based view?
Seçenekler
A
Skills
B
Plant
C
Structure
D
Systems
E
Land
Açıklama:
Soru 9
Which of the following is a part of Organizational resources components of resource-based view?
Seçenekler
A
Training
B
Land
C
Experience
D
Systems
E
Skills
Açıklama:
Soru 10
_______________ is an internal evaluation tool that helps firms to identify performance deficiencies?
Seçenekler
A
Regression analysis
B
Pareto analysis
C
Quality control
D
Gap analysis
E
Sampling
Açıklama:
The Gap Analysis is an internal evaluation tool that helps firms to identify performance deficiencies. At a Gap Analysis process, what company managers do at the first step is to compare the firm’s current state to the desired future state, and identify and understand the gaps that exist between the two states. Later, they develop a series of actions/strategies that will bridge the identified gaps
Soru 11
Which one of the following is not considered an internal analysis of a firm?
Seçenekler
A
Resources
B
Value-adding activities
C
Strategies
D
Goals
E
Environment
Açıklama:
Internal analysis is an act to help top management receive a detailed picture of the business, active strategies’ effectiveness on reaching the goals, and whether or not the business’ resources are utilized effectively to support its strategies. Environment is not an internal analysis factor, it is an external factor not an internal analysis factor. Thus, the correct answer is E.
Soru 12
“Managing and leveraging these resources effectively and creatively can give the firm a ……………… ……… over its competitors.”
In the quoted sentence above, which one of the responses should fill in the blank spaces?
In the quoted sentence above, which one of the responses should fill in the blank spaces?
Seçenekler
A
Resource concentration
B
Partners co-option
C
Competitive edge
D
Spin-off resources
E
Balanced sheets
Açıklama:
“Managing and leveraging these resources effectively and creatively can give the firm a competitive edge over its competitors. competitive edge.” The correct response is C.
Soru 13
“According to Enz (2010), a firm’s ability to create competitive advantage through capitalizing on resources or capabilities depends on the answers to the following six questions.”
Which one of the following options is not among the questions that Enz (2010) recommended?
Which one of the following options is not among the questions that Enz (2010) recommended?
Seçenekler
A
Does the resource or capability have value in the market?
B
Is the resource or capability unique?
C
Is there a readily available substitute for the resource or capability?
D
Is the organization aware of its competitors?
E
Is the resource or capability difficult or costly to imitate?
Açıklama:
Enz (2010) questions were all related to a firm’s internal environment. And they are: Does the resource or capability have value in the market?
Therefore, the correct answer is D.
- Does the resource or capability have value in the market?
- Is the resource or capability unique?
- Is there a readily available substitute for the resource or capability?
- Is the organization aware of and realizing the advantages?
- Do organizational systems exist that allow the realization of the potential?
- Is the resource or capability difficult or costly to imitate?
Therefore, the correct answer is D.
Soru 14
Which one of the following is not emphasized by the Resource-Based View?
Seçenekler
A
Success
B
Climate
C
Profitability
D
Growth
E
Survival
Açıklama:
The resource-based view (RBV) emphasizes a company’s resources and competitive capability for a firm’s success against its rivals. All activities and strategies of a firm concerned about a company’s success and its profitability, growth, and survival. Thus, climate was not among them. The correct response is B.
Soru 15
Which one of the following options is one of the value-creating activities of the Value Chain Analysis?
Seçenekler
A
Services
B
Structures
C
Competitors
D
Resources
E
Systems
Açıklama:
According to Michael Porter (1985) value of a business consists of activities that function together to develop the desired ends. These value-creating activities can be listed as;
- purchasing supplies,
- manufacturing,
- distribution and marketing of its goods and,
- services. Except “services,” other activities belong to other approaches.
Soru 16
“Access to real-time sales and inventory system” is considered which one of the primary activities of Value Chain Analysis?
Seçenekler
A
Inbound logistics
B
Operations
C
Outbound logistics
D
Marketing and sales
E
Serves delivery
Açıklama:
Inbound logistics: real-time inbound inventory data, location of distribution facilities, trucks, and warehouse. Operations: Standardized model, access to real-time sales and inventory system. Outbound logistics: Order processing and full delivery trucks. Service delivery: installation, repair, greeters, customer service focus. Therefore, the correct answer is B.
Soru 17
Which one of the following internal analysis approaches is more concerned with “imitability?"
Seçenekler
A
Functional approach
B
Core competencies analysis
C
VRIO analysis
D
OCAT analysis
E
Gap analysis
Açıklama:
VRIO framework of analysis, proposes four questions to evaluate a firm’s competencies:
- Value: Does it provide a competitive advantage?
- Rareness: Do no other competitors possess it?
- Imitability: Is it costly for others to imitate?
- Organization: Is the firm organized to exploit the resource. Thus, C is the correct response
Soru 18
“……......... ……………… is an internal evaluation tool that helps firms to identify performance deficiencies.”
Which one of the following options should fill in the blanks in the sentence above?
Which one of the following options should fill in the blanks in the sentence above?
Seçenekler
A
Functional approach
B
Swot analysis
C
Vrio analysis
D
Gap analysis
E
Ocat analysis
Açıklama:
The Gap Analysis is an internal evaluation tool that helps firms to identify performance deficiencies. Therefore, the correct response is D.
Soru 19
Which one of the following internal analysis approach is a more comprehensive, simple to use, and effective than others?
Seçenekler
A
Functional approach
B
Core competencies
C
Gap analysis
D
Mckinsey’s 7S framework
E
Swot analysis
Açıklama:
SWOT analysis are a more comprehensive study of the internal environment (p. 100).
SWOT analysis helps a firm to better understand its strengths and weaknesses in comparison to the threats and opportunities in its operating markets and target customers. This analysis can, in turn, help the company to create a sustainable niche in its market, strengthen its position in the market, and increase its market share. The SWOT analysis allows organizations to uncover the opportunities they have, the strength to exploit and minimize their weaknesses, and the risk of impending threats. Using this tool, organizations can distinguish themselves from competitors and successfully compete in their given marketplace (p 101) The correct option is E.
SWOT analysis helps a firm to better understand its strengths and weaknesses in comparison to the threats and opportunities in its operating markets and target customers. This analysis can, in turn, help the company to create a sustainable niche in its market, strengthen its position in the market, and increase its market share. The SWOT analysis allows organizations to uncover the opportunities they have, the strength to exploit and minimize their weaknesses, and the risk of impending threats. Using this tool, organizations can distinguish themselves from competitors and successfully compete in their given marketplace (p 101) The correct option is E.
Soru 20
Which one of the internal analysis approaches is ideal to improve the alignment between departments and processes?
Seçenekler
A
McKinsey’s 7S framework
B
Core competencies analysis
C
Functional approach
D
Gap analysis
E
Vrio analysis
Açıklama:
Another highly popular and battle-tested tool is the McKinsey 7S Framework. McKinsey 7S is ideal for organizations looking to improve the alignment between departments and processes. The correct response is A.
Ünite 5
Soru 1
Which of the following describes backward integration?
Seçenekler
A
Pursuing ownership or
increased control over
competitors.
increased control over
competitors.
B
Increasing the sales of the
firm’s existing products
through intensive marketing
efforts.
firm’s existing products
through intensive marketing
efforts.
C
Increasing ownership or
control over firm’s suppliers
(going back to the value chain
in an industry).
control over firm’s suppliers
(going back to the value chain
in an industry).
D
Increasing ownership or
control over distributors or
retailers (going forward in the
value chain in an industry).
control over distributors or
retailers (going forward in the
value chain in an industry).
E
Selling existing products of
the firm in the new markets.
the firm in the new markets.
Açıklama:
Backward integration is increasing ownership or
control over firm’s suppliers
(going back to the value chain
in an industry). Some large-scale retailers such as Migros and
Carrefour purchase products directly from producers,
skipping wholesalers. Moreover, some companies
prefer contract manufacturing or switch to direct
production.
control over firm’s suppliers
(going back to the value chain
in an industry). Some large-scale retailers such as Migros and
Carrefour purchase products directly from producers,
skipping wholesalers. Moreover, some companies
prefer contract manufacturing or switch to direct
production.
Soru 2
The description for the strategy is "Increasing the sales of the firm’s existing products
through intensive marketing efforts".
Which of the following strategy types pertains to the description above?
through intensive marketing efforts".
Which of the following strategy types pertains to the description above?
Seçenekler
A
Backward integration
B
Horizontal integration
C
Market penetration
D
Forward integration
E
Related diversification
Açıklama:
Market penetration is about selling existing products of
the firm in the new markets. Fow example German FlixMobility, carried 45 million passengers in
2018 in Europe and in the U.S., acquired Kamil Koç, one
of the intercity bus operators (listed among the top
500 firms in Turkey, serving 61 cities all over Turkey
the firm in the new markets. Fow example German FlixMobility, carried 45 million passengers in
2018 in Europe and in the U.S., acquired Kamil Koç, one
of the intercity bus operators (listed among the top
500 firms in Turkey, serving 61 cities all over Turkey
Soru 3
Generic strategies consist of three basic
strategies “applicable” to any business: cost
leadership, differentiation and focus.
Which of the combinations below describes the positioning for " Cost leadership"?
strategies “applicable” to any business: cost
leadership, differentiation and focus.
Which of the combinations below describes the positioning for " Cost leadership"?
Seçenekler
A
Lower cost; Narrow target
B
Lower cost,;Broad target
C
Differentiation; Narrow target
D
Differentiation; Broad target
E
Differentiation; Focus
Açıklama:
Generic strategies consist of three basic
strategies “applicable” to any business: cost
leadership, differentiation and focus. According to Porter, the competitive advantage stems
from the selection of the general strategy that best suits the
competitive environment of the organization, and then
organizing value-added activities to support the chosen
strategy. Two different types of cost leadership strategies
are expressed: low-cost strategy and best-value strategy.
Lower cost,;Broad target
strategies “applicable” to any business: cost
leadership, differentiation and focus. According to Porter, the competitive advantage stems
from the selection of the general strategy that best suits the
competitive environment of the organization, and then
organizing value-added activities to support the chosen
strategy. Two different types of cost leadership strategies
are expressed: low-cost strategy and best-value strategy.
Lower cost,;Broad target
Soru 4
Which of the following describes "differentiation" as one of the generic strategies introduced by Porter?
Seçenekler
A
A strategy that meets the
needs of one or more specific customer
groups or segments.
needs of one or more specific customer
groups or segments.
B
A strategy providing a wide range of
customers with products or services in the best
price-value range on the market.
customers with products or services in the best
price-value range on the market.
C
A strategy providing a narrow group of
customers with products or services in the best
price-value range on the market.
customers with products or services in the best
price-value range on the market.
D
A strategy aiming
at distinguishing a firm’s products or services
from other similar products or services offered
by the competitors.
at distinguishing a firm’s products or services
from other similar products or services offered
by the competitors.
E
A strategy providing a wide range of
customers with products and services at the lowest
cost and price in the market.
customers with products and services at the lowest
cost and price in the market.
Açıklama:
Differentiation is a strategy aiming
at distinguishing a firm’s products or services
from other similar products or services offered
by the competitors. This strategy involves the
development of products or services unique for
customers in terms of product design, features,
brand image, quality, or customer service. When
the organization can differentiate its products and
services, it can demand a higher price than the
average price in the market.
A strategy aiming at distinguishing a firm’s products or services
from other similar products or services offered
by the competitors.
at distinguishing a firm’s products or services
from other similar products or services offered
by the competitors. This strategy involves the
development of products or services unique for
customers in terms of product design, features,
brand image, quality, or customer service. When
the organization can differentiate its products and
services, it can demand a higher price than the
average price in the market.
A strategy aiming at distinguishing a firm’s products or services
from other similar products or services offered
by the competitors.
Soru 5
What is the main feature of the "Focus" strategy that distinguishes this strategy from the other generic strategies?
Seçenekler
A
This strategy is tied to a market
segment (niche) that is large enough and has good growth
potential.
segment (niche) that is large enough and has good growth
potential.
B
This strategy provides a narrow range of customers with
the best price-value range on the market.
the best price-value range on the market.
C
This strategy aimes at distinguishing a firm’s products or services
from other similar products or services offered by the competitors.
from other similar products or services offered by the competitors.
D
This strategy provides a wide range of customers with
the best price-value range on the market.
the best price-value range on the market.
E
This strategy provides a wide range of customers with
the lowest price on the market.
the lowest price on the market.
Açıklama:
According to Porter, neither a low-cost
leadership strategy nor a differentiation strategy is
possible for an organization in a wide market. As an
example, the costs of maintaining low-cost leadership
may require substantial material resources that are
not in the organization. Likewise, differentiation
costs can be very high while serving the wide market
of customers. Otherwise, if differentiation requires
quality, providing high quality and cheap products
and services under the same brand name may not be
reliable for consumers; therefore a new brand name
should be developed and supported. For reasons like
these, it may be sensible to adopt a focus strategy for a company.
This strategy is tied to a market
segment that is large enough and has good growth
potential.
leadership strategy nor a differentiation strategy is
possible for an organization in a wide market. As an
example, the costs of maintaining low-cost leadership
may require substantial material resources that are
not in the organization. Likewise, differentiation
costs can be very high while serving the wide market
of customers. Otherwise, if differentiation requires
quality, providing high quality and cheap products
and services under the same brand name may not be
reliable for consumers; therefore a new brand name
should be developed and supported. For reasons like
these, it may be sensible to adopt a focus strategy for a company.
This strategy is tied to a market
segment that is large enough and has good growth
potential.
Soru 6
Which one of the following is one of the situations that lead companies to prefer "forward integration" for their operations?
Seçenekler
A
When a firm benefits monopolistic features in a specific area or territory.
B
When a business wants to gain a competitive
advantage in a flourishing industry.
advantage in a flourishing industry.
C
When a company faces high price increases demanded by marketing channel members.
D
When the business is expected to provide
great competitive advantages in emerging
economies.
great competitive advantages in emerging
economies.
E
When a company wants proprietorship or greater control
of supply systems.
of supply systems.
Açıklama:
Forward integration is a strategy that pursues increased ownership or control over distributors or
retailers. Business firms generally prefer forward integration when they
• have enough capital to establish their own distribution system,
• experience problems and delays in distribution channels
• face high price increases demanded by marketing channel members
• produce very technical products
• lack competent and specialized distribution channels
• perform in a fast-growing industry
When a company faces high price increases demanded by marketing channel members.
retailers. Business firms generally prefer forward integration when they
• have enough capital to establish their own distribution system,
• experience problems and delays in distribution channels
• face high price increases demanded by marketing channel members
• produce very technical products
• lack competent and specialized distribution channels
• perform in a fast-growing industry
When a company faces high price increases demanded by marketing channel members.
Soru 7
Concentration strategies are the strategies where
an organization concentrates on a product, service
or market. There are a variety of these strategies.
One of them is market penetration.Which of the following is one of the tactics for penetrating into markets?
an organization concentrates on a product, service
or market. There are a variety of these strategies.
One of them is market penetration.Which of the following is one of the tactics for penetrating into markets?
Seçenekler
A
To magnetize buyers about
the availability of the new target market product
or service.
the availability of the new target market product
or service.
B
Firms may add new distribution channels to existing ones.
C
Offering transformed or new goods or services in present markets.
D
Encouraging higher levels of innovation.
E
Selling firm’s existing products in the new markets.
Açıklama:
Market penetration refers to increasing the
sales of the firm’s existing products through
intensive marketing efforts. It is a strategy aiming
at increasing the sales of an existing product while
increasing the production capacity in the current
market. The market penetration strategy has two
main objectives: The first is to increase the share
of the company in the current market. The second
is to sell more products and services to existing
customers. Tactics for market penetration are Price Adjustment;Product or service promotions;Distribution Channels; and Investment in human resources.
Firms may add new distribution channels to existing ones.
sales of the firm’s existing products through
intensive marketing efforts. It is a strategy aiming
at increasing the sales of an existing product while
increasing the production capacity in the current
market. The market penetration strategy has two
main objectives: The first is to increase the share
of the company in the current market. The second
is to sell more products and services to existing
customers. Tactics for market penetration are Price Adjustment;Product or service promotions;Distribution Channels; and Investment in human resources.
Firms may add new distribution channels to existing ones.
Soru 8
How different is concentration strategy from diversification strategy?
Seçenekler
A
Diversification focuses on the existing product lines in one industry while concentration focuses
on other product lines from other industries.
on other product lines from other industries.
B
Concentration focuses on the existing product lines in one industry while diversification focuses
on other product lines from other industries.
on other product lines from other industries.
C
Both strategies focus on the existing product lines in one industry.
D
Both strategies focus on other product lines from other industries.
E
Concentration and diversification strategies distinguish regarding the competitive nature of markets.
Açıklama:
Concentration strategy is different from
diversification strategy; the first focuses on the
existing product lines in one industry while the latter
on the other product lines from other industries.
In fact, in a growing industry, organizations tend
to decide concentration strategies before trying
diversification strategies
Concentration focuses on the existing product lines in one industry while diversification focuses
on other product lines from other industries.
diversification strategy; the first focuses on the
existing product lines in one industry while the latter
on the other product lines from other industries.
In fact, in a growing industry, organizations tend
to decide concentration strategies before trying
diversification strategies
Concentration focuses on the existing product lines in one industry while diversification focuses
on other product lines from other industries.
Soru 9
Defensive strategies include retrenchment, divestiture, and liquidation.
Which of the following is a reason for businesses to apply divestiture strategy?
Which of the following is a reason for businesses to apply divestiture strategy?
Seçenekler
A
The business unit or department does not make profit.
B
Company’s sole option is bankruptcy.
C
A company cannot cope with the underlying changes or sales.
D
Company aims to reach a more stable financial position.
E
Company aims to concentrate on lucrative initiatives.
Açıklama:
A divestiture is the partial or full disposal of
a business unit through sale, exchange, closure,
or bankruptcy. Divestiture is made because the
business unit or department does not make profit,
or the transaction is not performed and is not done
within a satisfactory investment or time structure.
Given other available opportunities, industries
that do not have the appropriate appeal may also
require divestiture. Divestitures or disposals are
forced once properties, situations and attempts do
not comply with the strategic leadership and no
more have a strategic meaning.
The business unit or department does not make profit.
a business unit through sale, exchange, closure,
or bankruptcy. Divestiture is made because the
business unit or department does not make profit,
or the transaction is not performed and is not done
within a satisfactory investment or time structure.
Given other available opportunities, industries
that do not have the appropriate appeal may also
require divestiture. Divestitures or disposals are
forced once properties, situations and attempts do
not comply with the strategic leadership and no
more have a strategic meaning.
The business unit or department does not make profit.
Soru 10
A strategic alliance (partnership) is a form of
relationship intended to ensure a transnational
initiative not including a stockholding.
Which of the following motivations for strategic alliances is about critical mass requirement?
relationship intended to ensure a transnational
initiative not including a stockholding.
Which of the following motivations for strategic alliances is about critical mass requirement?
Seçenekler
A
To ensure a transnational
initiative not including a stockholding.
initiative not including a stockholding.
B
To produce a patented
product is approved for a payment.
product is approved for a payment.
C
To succeed through collaborations with
any rivals or balancing product providers.
any rivals or balancing product providers.
D
To ensure that each
associate focuses on the actions that best
suit its abilities.
associate focuses on the actions that best
suit its abilities.
E
Expanding capabilities that can be further extensively
used in a different place.
used in a different place.
Açıklama:
The strategic alliance (partnership) is a form of
relationship intended to ensure a transnational
initiative not including a stockholding. In
recent years, this strategy has been widely used
by businesses: for the reason that the rising
expenditure of R&D has put stress to share these
expenses; as strategic alliances were discovered to
provide reduction of expenses via divided markets
of scale and scope; finally, strategic alliances have
brought other expense advantages as a consequence
of strategic alliance associates who concentrate or
rationalize their activities.
There are three types of alliances: joint ventures,
consortia, and networks.
Motivations for such alliances can be
summarized in three main types:
• Critical mass requirement that alliances be
able to succeed through collaborations with
any rivals or balancing product providers,
• Co-specialization to ensure that each
associate focuses o
To succeed through collaborations with
any rivals or balancing product providers.
relationship intended to ensure a transnational
initiative not including a stockholding. In
recent years, this strategy has been widely used
by businesses: for the reason that the rising
expenditure of R&D has put stress to share these
expenses; as strategic alliances were discovered to
provide reduction of expenses via divided markets
of scale and scope; finally, strategic alliances have
brought other expense advantages as a consequence
of strategic alliance associates who concentrate or
rationalize their activities.
There are three types of alliances: joint ventures,
consortia, and networks.
Motivations for such alliances can be
summarized in three main types:
• Critical mass requirement that alliances be
able to succeed through collaborations with
any rivals or balancing product providers,
• Co-specialization to ensure that each
associate focuses o
To succeed through collaborations with
any rivals or balancing product providers.
Soru 11
I. Cost Leadership
II. Differentiation
III. Focus
According to Porter, which of the above items are main options?
II. Differentiation
III. Focus
According to Porter, which of the above items are main options?
Seçenekler
A
I, II and III
B
Only I
C
I and II
D
Only II
E
Only III
Açıklama:
There are three main options (Porter, 1985):
1. Cost Leadership
2. Differentiation
3. Focus
1. Cost Leadership
2. Differentiation
3. Focus
Soru 12
I. Forward integration
II. backward integration
III. Horizontal integration.
Which of above items integration strategies consist of?
II. backward integration
III. Horizontal integration.
Which of above items integration strategies consist of?
Seçenekler
A
I and II
B
I, II and III
C
Only I
D
II and III
E
Only II
Açıklama:
Integration strategies consist of three strategies, namely forward
integration, backward integration, and horizontal integration.
integration, backward integration, and horizontal integration.
Soru 13
Which one of the followings refers to increasing the sales of the firm’s existing products through intensive marketing efforts?
Seçenekler
A
Market development
B
Product Development
C
Market penetration
D
Distribution Channels
E
Investment in human resources
Açıklama:
Market penetration refers to increasing the sales of the firm’s existing products through intensive marketing efforts.
Soru 14
Which strategy involve moving an organization from a single service or product to additional industry areas which are or are not associated with the existing business?
Seçenekler
A
Diversification
B
Product Development
C
Market development
D
Market penetration
E
Horizontal Integration
Açıklama:
Diversification is a strategy in which a company enters an industry or market different from its core activity. Diversification involves moving an organization from a single service or product to additional industry areas which are or are not associated with the existing business.
Soru 15
I. Insufficient strategic management
II. Rich financial administration
III.Competitive powers
Which of the above items is/are the cause/s of employing defensive strategies?
II. Rich financial administration
III.Competitive powers
Which of the above items is/are the cause/s of employing defensive strategies?
Seçenekler
A
I, II and III
B
II and III
C
I and II
D
I and III
E
Only I
Açıklama:
Among the causes of employing defensive strategies are:
Insufficient strategic management (inadequate administration, acquisitions that do not meet the expectations, inadequate management of large projects, fraud or false pretenses, etc.)
Weak financial administration (inadequate fiscal control, loss of cost advantage, etc.)
Competitive powers (The negative impact of competitive conditions, supply issues, inadequate or poorly managed marketing department, etc.)
Soru 16
Which of the followings is called joint venture?
Seçenekler
A
An arrangement among business firms to pool their resources for accomplishing a specific task.
B
An agreement where two existing companies unite to form a new company.
C
Fewer strict agreement in which companies work in cooperation without being dependent on cross-proprietorship agreements and official deals.
D
The partial or full disposal of a business unit through sale, exchange, closure, or bankruptcy.
E
Reducing a firm’s one or more business operations with the view to cut expenses and reach a more stable financial position.
Açıklama:
A joint venture is an arrangement among business firms to pool their resources for accomplishing a specific task.
Soru 17
When the business unit or department does not make profit, or the transaction is not performed and is not done within a satisfactory investment or time structure, what is made?
Seçenekler
A
Liquidation
B
Merger
C
Divestiture
D
Retrenchment
E
Joint Ventures
Açıklama:
Divestiture is made because the business unit or department does not make profit, or the transaction is not performed and is not done within a satisfactory investment or time structure.
Soru 18
When a business is not well managed, or it cannot cope with the underlying changes or sales that remain below the targets constantly, what can be the only option?
Seçenekler
A
Liquidation
B
Divestiture
C
Retrenchment
D
Related diversification
E
Unrelated diversification
Açıklama:
Liquidation can be the only option when a business is not well managed, or it cannot cope with the underlying changes or sales that remain below the targets constantly.
Soru 19
I. The synergy and collaboration capability is overestimated by managers,
II. Administrative troubles and obstacles are misjudged.
III. Crucial administrators are left behind after acquisition.
IV. The hidden weaknesses of the business are realized too late.
V. A lot of costs are funded, and the profit is not taken back soon.
Which of the above items are the predictable explanations for failure of unrelated diversification?
II. Administrative troubles and obstacles are misjudged.
III. Crucial administrators are left behind after acquisition.
IV. The hidden weaknesses of the business are realized too late.
V. A lot of costs are funded, and the profit is not taken back soon.
Which of the above items are the predictable explanations for failure of unrelated diversification?
Seçenekler
A
I, II and III
B
I, II, III and IV
C
Only I
D
Only II
E
I,II,III,IV and V
Açıklama:
Unrelated diversification is always high-level risk, the predictable explanations for failure are:
- The synergy and collaboration capability is overestimated by managers,
- Administrative troubles and obstacles are misjudged.
- Crucial administrators are left behind after acquisition.
- The hidden weaknesses of the business are realized too late.
- A lot of costs are funded, and the profit is not taken back soon.
Soru 20
I. Changes over time within the company or industry
II. Diversification made as a result of incorrect evaluations
III. Excessive diversification leading to boosted bureaucratic expenditures.
Which of the above items are reasons why a business concept centered on both of diversification strategies causes malfunction of competitive advantage?
II. Diversification made as a result of incorrect evaluations
III. Excessive diversification leading to boosted bureaucratic expenditures.
Which of the above items are reasons why a business concept centered on both of diversification strategies causes malfunction of competitive advantage?
Seçenekler
A
Onlly I
B
I and II
C
I, II and III
D
Only II
E
Only III
Açıklama:
Three main reasons why a business concept centered on both of diversification strategies causes malfunction of competitive advantage are listed below (Hill & Jones, 2011):
1. Changes over time within the company or industry
2. Diversification made as a result of incorrect evaluations
3. Excessive diversification leading to boosted bureaucratic expenditures.
1. Changes over time within the company or industry
2. Diversification made as a result of incorrect evaluations
3. Excessive diversification leading to boosted bureaucratic expenditures.
Soru 21
Why is the identification of alternative strategies important?
Seçenekler
A
Because the long-term goals have already been established.
B
Because alternative strategies lead to the achievement of long term goals.
C
Otherwise, strategies will be forgotten.
D
Because the next step is to establish the short term goals.
E
Because long term goals are subject to change.
Açıklama:
After establishing long-term goals, the next step in the strategic management model
is to identify alternative strategies through which long term goals will be achieved. Strategies are critical in many ways for business firms. They have their wide spectrum functions.
is to identify alternative strategies through which long term goals will be achieved. Strategies are critical in many ways for business firms. They have their wide spectrum functions.
Soru 22
Why is it important that organizations have a common framework of reference?
Seçenekler
A
Because strategy serves as a common framework of reference.
B
Because inspectors would ask for common framework of reference.
C
Because strategy supports internal organizations.
D
In case of a change, the people in the organization can have a reference point.
E
Because long term plans can only be established by reference points.
Açıklama:
Strategy serves as a common framework of reference is explained as in the following:
Even though circumstances will change,
strategy offers an organization a common point of reference. This makes sure that, if there is a
change, the people in and around the organization collectively can know what assumptions, ideas or plans they are going to deviate from.
Even though circumstances will change,
strategy offers an organization a common point of reference. This makes sure that, if there is a
change, the people in and around the organization collectively can know what assumptions, ideas or plans they are going to deviate from.
Soru 23
I. The control is on the retailers.
II. The control is on suppliers.
III. Integration goes back to the value chain.
IV. Integration goes forward in the value chain.
Which of the above belong/belongs to backward integration?
II. The control is on suppliers.
III. Integration goes back to the value chain.
IV. Integration goes forward in the value chain.
Which of the above belong/belongs to backward integration?
Seçenekler
A
I, II
B
II, III
C
III, IV
D
I, III
E
II, IV
Açıklama:
Backward integration is characterized with increasing ownership or
control over distributors or retailers (going forward in the
value chain in an industry).
Increasing ownership or control over firm’s suppliers (going back to the value chain in an industry) is a characteristic of forward integration.
control over distributors or retailers (going forward in the
value chain in an industry).
Increasing ownership or control over firm’s suppliers (going back to the value chain in an industry) is a characteristic of forward integration.
Soru 24
I. cost leadership
II. differentiation
III. Focus
IV. integration
Which of the above belong/belongs to generic strategies?
II. differentiation
III. Focus
IV. integration
Which of the above belong/belongs to generic strategies?
Seçenekler
A
I, II, IV
B
I, II, III
C
II, III, IV
D
III, IV
E
Only II
Açıklama:
Generic strategies are three basic strategies applicable to any business: cost leadership, differentiation and focus
(sometimes called niche).
(sometimes called niche).
Soru 25
Why are low-cost strategy and best-value strategy are expressed under cost leadership?
Seçenekler
A
Because it is important to produce low cost products only.
B
Because cost leadership requires producing standard products only.
C
Because it is important to produce low-cost but best-value products.
D
Because it is important to produce high-cost and best-value products.
E
Because it is important to produce low-cost and low-value products.
Açıklama:
Cost leadership requires producing standard products or services at low cost per part or unit for price sensitive consumers. Two different types of cost leadership strategies
are expressed: low-cost strategy and best-value strategy. Therefore, C is the correct choice.
are expressed: low-cost strategy and best-value strategy. Therefore, C is the correct choice.
Soru 26
Which strategy aims at producing/developing products unique for customers?
Seçenekler
A
Differentiation strategy
B
Best-value strategy
C
Focus strategy
D
Integration strategy
E
Low-cost strategy
Açıklama:
Differentiation strategy is defined as a strategy aiming at distinguishing a firm’s products or services from other similar products or services offered by the competitors. This strategy involves the development of products or services unique for customers in terms of product design, features, brand image, quality, or customer service.
Soru 27
Which of the following is not a reason for the preference of forward integration?
Seçenekler
A
having enough capital to establish the firm's own distribution system.
B
having no problem in the distribution system
C
performing in a fast-growing industry.
D
producing non-technical products.
E
facing high price increases demanded by marketing channel members
Açıklama:
Business firms generally prefer forward integration when they
• have enough capital to establish their own distribution system,
• experience problems and delays in distribution channels
• face high price increases demanded by marketing channel members
• produce very technical products
• lack competent and specialized distribution channels
• perform in a fast-growing industry.
Therefore, B is not a reason for forward integration preference.
• have enough capital to establish their own distribution system,
• experience problems and delays in distribution channels
• face high price increases demanded by marketing channel members
• produce very technical products
• lack competent and specialized distribution channels
• perform in a fast-growing industry.
Therefore, B is not a reason for forward integration preference.
Soru 28
What is meant by horizontal growth?
Seçenekler
A
Horizontal growth is increasing the area the production site covers.
B
Horizontal growth is growing in the number of the products produced.
C
Horizontal growth is increasing the number of sales points.
D
Horizontal growth is increasing the cost of the products.
E
Horizontal growth is increasing the number of customer at each sales point.
Açıklama:
Horizontal growth is increasing the sales points because it can be reached via domestic or exterior expansion, through acquisitions and strategic partnerships in the same sector.
For example, to add more sales places in further geographical areas. An organization can more boost its sales numbers by penetrating more sales points at home and abroad.
For example, to add more sales places in further geographical areas. An organization can more boost its sales numbers by penetrating more sales points at home and abroad.
Soru 29
I. Market penetration
II. Market development
III. Market reducing
IV. Product development
V. Product limitation
Which of the above is/are included in concentration strategies?
II. Market development
III. Market reducing
IV. Product development
V. Product limitation
Which of the above is/are included in concentration strategies?
Seçenekler
A
II, IV
B
III, IV
C
I, II, III, IV
D
II, III, IV
E
I, II, IV
Açıklama:
Concentration strategies include market penetration, market development, and product
development.
development.
Soru 30
I. Inadequate administration
II. Inadequate administration of large projects
III. Strong financial administration
IV. Loss of cost advantage
V. The positive impact of competition
Which of the above is/are the reasons for adopting defensive strategies?
II. Inadequate administration of large projects
III. Strong financial administration
IV. Loss of cost advantage
V. The positive impact of competition
Which of the above is/are the reasons for adopting defensive strategies?
Seçenekler
A
I, II, III
B
II, IV, V
C
I, II, IV
D
Only V
E
Only III
Açıklama:
The book states the following as reasons of adopting defensive strategies.
1. Insufficient strategic management
(inadequate administration, acquisitions
that do not meet the expectations,
inadequate management of large projects,
fraud or false pretenses, etc.)
2. Weak financial administration (inadequate
fiscal control, loss of cost advantage, etc.)
3. Competitive powers (The negative impact
of competitive conditions, supply issues,
inadequate or poorly managed marketing
department, etc.)
1. Insufficient strategic management
(inadequate administration, acquisitions
that do not meet the expectations,
inadequate management of large projects,
fraud or false pretenses, etc.)
2. Weak financial administration (inadequate
fiscal control, loss of cost advantage, etc.)
3. Competitive powers (The negative impact
of competitive conditions, supply issues,
inadequate or poorly managed marketing
department, etc.)
Ünite 6
Soru 1
What does Globalization create for firms?
Seçenekler
A
more competitive environment
B
more competitive rigts
C
more competitive incumbents
D
more competitive business
E
more modern economy
Açıklama:
Take a look to term of globalization
Globalization creates a more competitive environment for firms; while on the other hand, it offers new business opportunities in their environment. At the same time, it is now easier to enter new markets in the global economy
Globalization creates a more competitive environment for firms; while on the other hand, it offers new business opportunities in their environment. At the same time, it is now easier to enter new markets in the global economy
Soru 2
What does manufacturing firm want?
Seçenekler
A
to grow vertically or horizontally
B
to grow only vertically
C
to grow only horizontally
D
to grow vertically or constantly
E
to grow horizontally or constantly
Açıklama:
To get information about globalization
Likewise, if a manufacturing firm wants to grow vertically or horizontally, it can quickly get advice from an international consulting firm to change
its production technology. These are all critical decisions that affect firms’ strategie
Likewise, if a manufacturing firm wants to grow vertically or horizontally, it can quickly get advice from an international consulting firm to change
its production technology. These are all critical decisions that affect firms’ strategie
Soru 3
What managers affect the structure of the decision-making process?
Seçenekler
A
their visions
B
their budget
C
their purpose
D
their belief
E
their approach
Açıklama:
Take a look acknowledge about Strategy Generation and Selection
Strategists make strategic decisions in various ways and at different levels. The managers and their visions influence the structure of the decision-making process. Today, firms are under the pressure of the need for learning continually and being innovative.
Strategists make strategic decisions in various ways and at different levels. The managers and their visions influence the structure of the decision-making process. Today, firms are under the pressure of the need for learning continually and being innovative.
Soru 4
How can we call a new investment decision of a firm ?
Seçenekler
A
a strategic decision
B
a budget decision
C
a financial decision
D
a strategic managemet
E
a financial managemet
Açıklama:
A new investment decision of a firm is a strategic decision. Before making this investment, the firm must evaluate potential markets and analyze its resources and capabilities.
Soru 5
Why the firms should determine their resources and abilities ?
Seçenekler
A
by making systematic analyses
B
by making financial analyses
C
by making carreer analyses
D
by making system analyses
E
by making budget analyses
Açıklama:
To take a look SWOT analysis.
Firms should generate and select correct strategies to gain competitive advantage. Hence firms need to identify their organizational strengths and weaknesses well. They also need to identify opportunities and threats in the environment accurately. Firms should determine their resources and abilities by making systematic analyses and should give strategic responses to the environment in line with the resources and abilities they have. To achieve this analytically, they may make a SWOT analysis.
Firms should generate and select correct strategies to gain competitive advantage. Hence firms need to identify their organizational strengths and weaknesses well. They also need to identify opportunities and threats in the environment accurately. Firms should determine their resources and abilities by making systematic analyses and should give strategic responses to the environment in line with the resources and abilities they have. To achieve this analytically, they may make a SWOT analysis.
Soru 6
What do opportunities refer to in SWOT Analyses?
Seçenekler
A
Favorable external factors
B
Favorable internal factors
C
Favorable financial factors
D
Favorable strategic objective factors
E
Favorable sociocultural factors
Açıklama:
To take a look meaning of opportunities in SWOT analyses
Opportunities refer to favorable external factors that could give the firm a competitive advantage. Factors such as possible new markets, growing markets, new technologies, changing customer trends may be examples of some opportunities.
Opportunities refer to favorable external factors that could give the firm a competitive advantage. Factors such as possible new markets, growing markets, new technologies, changing customer trends may be examples of some opportunities.
Soru 7
What managers should remember that the analysis carried out in the SWOT matrix?
Seçenekler
A
matrix is periodic
B
square matrix is periodic
C
product matrix is periodic
D
sampling matrix is periodic
E
semigroup matrix is periodic
Açıklama:
To understant Matching Key External and Internal Factors to Formulate Alternative Strategies.
Managers should remember that the analyses carried out in the SWOT matrix are periodic, and the external and internal environment has a dynamic nature and change constantly. Due to the nature of this analysis, it should be repeated at certain time intervals. It is necessary to pay attention to some points while performing a SWOT analysis.
Managers should remember that the analyses carried out in the SWOT matrix are periodic, and the external and internal environment has a dynamic nature and change constantly. Due to the nature of this analysis, it should be repeated at certain time intervals. It is necessary to pay attention to some points while performing a SWOT analysis.
Soru 8
Which one is not a BCG matrix advantages?
Seçenekler
A
The BCG shows the differences among some selected business units
B
The BCG shows the differences in a simple visual form.
C
The BCG matrix evokes the firm that high growth will require high investments
D
The BCG matrix reminds the manager that the stars will start to decrease after a while.
E
The BCG matrix enables the manager to relate the units by showing the firm’s portfolio as a matrix.
Açıklama:
To take a look Advantages and Limitations of the BCG Matrix
The BCG matrix has several advantages. It shows the differences between all business units in the firm’s portfolio in a simple visual form. The BCG matrix evokes the firm that high growth will require high investments. It also reminds the manager that the stars will start to decrease after a while. Finally, it enables the manager to relate the units by showing the firm’s portfolio as a matrix.
The BCG matrix has several advantages. It shows the differences between all business units in the firm’s portfolio in a simple visual form. The BCG matrix evokes the firm that high growth will require high investments. It also reminds the manager that the stars will start to decrease after a while. Finally, it enables the manager to relate the units by showing the firm’s portfolio as a matrix.
Soru 9
Which of the followings describe the Quantitative Strategic Planning Matrix (QSPM) method?
Seçenekler
A
QSPM is a key designed on the firm’s internal and external factors.
B
QSPM is only a key designed on the firm’s internal factors.
C
QSPM is only a key designed on the firm’s external factors.
D
QSPM is only a key designed on the firm’s financial factors.
E
QSPM is only a key designed on the firm’s social factors.
Açıklama:
To take a look Quantitative Strategic Planning Matrix (QSPM) method.
Quantitative Strategic Planning Matrix (QSPM) method. QSPM is a key designed on the firm’s internal and external factors. The basic working principle of this management tool is based on comparing the attractiveness of the alternatives among themselves.
Quantitative Strategic Planning Matrix (QSPM) method. QSPM is a key designed on the firm’s internal and external factors. The basic working principle of this management tool is based on comparing the attractiveness of the alternatives among themselves.
Soru 10
What does the business culture determine?
Seçenekler
A
how much risk a firm wants to take in research
B
how much risk a firm wants to take in social activities
C
how much risk a firm wants to take in budget
D
how much risk a firm wants to take in volume of external dept
E
how much risk a firm wants to take in volume of internal dept
Açıklama:
To take a look title of Business Culture
The business culture determines how much risk a firm wants to take in research and development, marketing activities, investment, and other activities.
The business culture determines how much risk a firm wants to take in research and development, marketing activities, investment, and other activities.
Soru 11
Which of the following items is not among the ones that a firm collects information from in the input stage?
Seçenekler
A
internal environment
B
external environment
C
business environment
D
primary competitor analysis
E
matching
Açıklama:
The strategy formulation process consists of three stages. The first stage is called the input stage. At this stage, the firm collects the information from the internal environment, external environment, business environment, and primary competitor analysis.
matching analysis is the second stage.
matching analysis is the second stage.
Soru 12
The quality of Google which is remarked as "creative human resources with a teamwork spirit" is an example of its _______________.
Which concept of strategic analysis could best fill in the blank?
Which concept of strategic analysis could best fill in the blank?
Seçenekler
A
Weakness
B
Strength
C
Opportunity
D
Threat
E
Analysis
Açıklama:
For example, one of the strengths of Amazon is that it has extensive distribution channels. Google remarks creative human resources
with the teamwork spirit as its strength.
The given quality is a strength for Google.
with the teamwork spirit as its strength.
The given quality is a strength for Google.
Soru 13
Which of the following is an example of a weakness for a firm?
Seçenekler
A
Being the only one in the industry
B
Bad location
C
Low turnover rate
D
innovative organizational culture
E
economic uncertainty
Açıklama:
A weak brand, lack of capital, lack the resources, being new
to the industry, bad location, and the high turnover
rate can be regarded as weaknesses.
Bad location is a weakness for a firm.
to the industry, bad location, and the high turnover
rate can be regarded as weaknesses.
Bad location is a weakness for a firm.
Soru 14
If a firm targets young people, the density and growth of a young population in the country is a /an ______________________ for it.
Which term can best complete the blank in the sentence?
Which term can best complete the blank in the sentence?
Seçenekler
A
Threat
B
Strength
C
Opportunity
D
Weakness
E
Analysis
Açıklama:
Opportunities refer to favorable external factors that could give the firm
a competitive advantage. Factors such as possible
new markets, growing markets, new technologies,
changing customer trends may be examples of some
opportunities. For instance, in a country where a
firm has not operated before, the density and growth
of the young population is an opportunity for a firm
whose target market comprises young people.
This is an opportunity because it could give the firm a competetive advantage.
a competitive advantage. Factors such as possible
new markets, growing markets, new technologies,
changing customer trends may be examples of some
opportunities. For instance, in a country where a
firm has not operated before, the density and growth
of the young population is an opportunity for a firm
whose target market comprises young people.
This is an opportunity because it could give the firm a competetive advantage.
Soru 15
Which of the following is the purpose of the BCG matrix?
Seçenekler
A
to minimize the costs of the decisions taken.
B
for firms to allocate resources in their portfolio correctly.
C
to sell their products in fast-growing markets.
D
to operate in a growing market.
E
to decide on planned market positions.
Açıklama:
The purpose of the BCG matrix is to minimize the costs of the
decisions taken and make the right investments in the right firm.
The purpose of the BCG matrix is to minimize the costs of the decisions taken.
decisions taken and make the right investments in the right firm.
The purpose of the BCG matrix is to minimize the costs of the decisions taken.
Soru 16
Which of the following is not one of the four strategies that may be applied after placing the business units in the matrix?
Seçenekler
A
Build
B
Invest
C
Hold
D
Harvest
E
Divest
Açıklama:
According to BCG, four strategies may be applied after placing the business units in the matrix. These strategies are build, hold, harvest and divest.
Invest is not one of the four strategies
Invest is not one of the four strategies
Soru 17
Which of the following is the most individualistic form of culture that exists when individuals are fully allowed to express themselves and make decisions for themselves?
Seçenekler
A
Role culture
B
Person culture
C
Task culture
D
Power culture
E
Norm culture
Açıklama:
Person culture is the most individualistic form of culture and exists when individuals are fully allowed to express themselves and make
decisions for themselves. A person’s culture can only exist in a very loose form of organization (e.g. an overseas salesperson working on their own for a firm, allowed to make their own decisions).
The most individualistic form of culture that exists when individuals are
fully allowed to express themselves and make decisions for themselves is person culture.
decisions for themselves. A person’s culture can only exist in a very loose form of organization (e.g. an overseas salesperson working on their own for a firm, allowed to make their own decisions).
The most individualistic form of culture that exists when individuals are
fully allowed to express themselves and make decisions for themselves is person culture.
Soru 18
Which of the following is not one of the political tips that managers should pay attention to?
Seçenekler
A
Taking advice
B
Compromising
C
Maneuverability
D
Communication
E
Objectivity
Açıklama:
Some political tips that managers should pay attention to are taking counsel, alliances, communication, maneuverability,compromising.
Objectivity is not one of political tips.
Objectivity is not one of political tips.
Soru 19
I. They generate, select, and monitor the firm’s products, business units, strategies.
II. The place where environmental information is evaluated is the BoD. III. The position of competitors, developments in the sector, global
fluctuations, and general economic conjuncture is on
the agenda of the BoD.
IV. They frequently review the strategic plan based on this information.
Which duty of the board of directors is the above statements related to?
II. The place where environmental information is evaluated is the BoD. III. The position of competitors, developments in the sector, global
fluctuations, and general economic conjuncture is on
the agenda of the BoD.
IV. They frequently review the strategic plan based on this information.
Which duty of the board of directors is the above statements related to?
Seçenekler
A
Realising the mission and vision of the organization.
B
Executive Director-Selecting, Supporting, Reviewing.
C
Organizational Planning
D
Monitoring and Managing Financial Resources
E
Recruitment of New Board Members
Açıklama:
Organizational Planning: Members of the Board
of directors should do organizational planning. They
generate, select, and monitor the firm’s products,
business units, strategies. The place where environmental
information is evaluated is the BoD. The position
of competitors, developments in the sector, global
fluctuations, and general economic conjuncture is on
the agenda of the BoD. They frequently review the
strategic plan based on this information.
These are about planning.
of directors should do organizational planning. They
generate, select, and monitor the firm’s products,
business units, strategies. The place where environmental
information is evaluated is the BoD. The position
of competitors, developments in the sector, global
fluctuations, and general economic conjuncture is on
the agenda of the BoD. They frequently review the
strategic plan based on this information.
These are about planning.
Soru 20
Which political strategy is described as establishing supportive
relationships inside and outside the firm to protect
the power of managers?
relationships inside and outside the firm to protect
the power of managers?
Seçenekler
A
Compromising
B
Alliances
C
Communication
D
Taking counsel
E
Maneuverability
Açıklama:
Alliances: Smart managers have alliances that
support their power inside and outside the firm.
Alliances are links that allow the manager to gain
more power. Besides, they provide ready-made
systems of communication, through which the
executive can learn first-hand how his decisions are
being carried out, what unforeseen obstacles are
being encountered, and what the level of morale in
the organization is at any moment.
Smart managers have alliances that support their power inside and outside the firm. Alliances are links that allow the manager to gain
more power.
support their power inside and outside the firm.
Alliances are links that allow the manager to gain
more power. Besides, they provide ready-made
systems of communication, through which the
executive can learn first-hand how his decisions are
being carried out, what unforeseen obstacles are
being encountered, and what the level of morale in
the organization is at any moment.
Smart managers have alliances that support their power inside and outside the firm. Alliances are links that allow the manager to gain
more power.
Ünite 7
Soru 1
Which one below is the stage that must be performed before the stage of strategy implementation?
Seçenekler
A
Environmental analysis
B
Strategy generation and selection
C
External analysis
D
Strategic decision
E
Internal analysis
Açıklama:
In the strategic analysis, organizations need to set their mission and vision
statements according to their goals. Afterwards, organizations require as much information as possible before any decision is made. For this reason, companies pursue a strategic option after internally and externally analyzing their environments.
Strategy generation and selection
statements according to their goals. Afterwards, organizations require as much information as possible before any decision is made. For this reason, companies pursue a strategic option after internally and externally analyzing their environments.
Strategy generation and selection
Soru 2
The planned strategy might take other forms which are
deliberate and emergent.
Which one below is relevant to the deliberate form of strategy?
deliberate and emergent.
Which one below is relevant to the deliberate form of strategy?
Seçenekler
A
Not necesssarily prepared in details and not prescribed.
B
Empowerment is a key factor in implementation.
C
It is a prescribed and evidence-based action.
D
Information is constantly changing.
E
The environment is uncertain.
Açıklama:
The deliberate strategy, which
is also known as the intended form of strategy,
is set after the environment analysis is combined
with the mission, which is a very prescribed and
evidence-based action. In contrast, in emergent
strategy, the environment is uncertain, and the
information is always changing, which can cause
crises for organizations.
It is a prescribed and evidence-based action.
is also known as the intended form of strategy,
is set after the environment analysis is combined
with the mission, which is a very prescribed and
evidence-based action. In contrast, in emergent
strategy, the environment is uncertain, and the
information is always changing, which can cause
crises for organizations.
It is a prescribed and evidence-based action.
Soru 3
Which of the following is a feature of strategy generation rather than the strategy implementation stage?
Seçenekler
A
Forces to be managed during the action
B
Mainly an intellectual process
C
Mainly an operational process
D
Mainly mid & lower-level managers are responsible
E
People-focused
Açıklama:
Strategy generation or formulation requires intellectual investment and effort where as implementation is the action stage and requires time and labor investment.
Mainly an intellectual process
Mainly an intellectual process
Soru 4
Resources are evaluated in several different perspectives.
Which one below composes functional areas?
Which one below composes functional areas?
Seçenekler
A
Financial, R&D, HR, operational, marketing and technological
B
Tangible & intangible assets
C
Organizational culture and politics
D
Physical, human and organizational
E
Risk capability
Açıklama:
Resources are evaluated in several different perspectives:
• Functional areas (Financial, R&D, HR, Operational, Marketing and Technological)
• Economics factors of production (Financial, Physical, Human and Organizational)
• Tangibility (Tangible, Intangible)
• Functional areas (Financial, R&D, HR, Operational, Marketing and Technological)
• Economics factors of production (Financial, Physical, Human and Organizational)
• Tangibility (Tangible, Intangible)
Soru 5
Which of the folllowing is an outcome of resource allocation process in accordance with various organizational forces?
Seçenekler
A
Cultural forces
B
Technical ability
C
Interpersonal factors
D
Cognitive forces
E
Competitive advantage
Açıklama:
The more factors (antecedents, issues, i.e.) organizations can reveal, the more they manage the resource allocation process. According to Maritan and Lee’s (2017) study, defining the antecedents helps to assess potential ways to reach correct allocation, and expected outcomes.
Competitive advantage
Competitive advantage
Soru 6
There are various conceptualizations of structure types. here are many definitions for types of structure, and the primary distinction is embedded in the height, width, complexity, and method of division concepts.
Which one below describes the width component?
Which one below describes the width component?
Seçenekler
A
The layers of management.
B
The status of the organization on a
centralization- decentralization base.
centralization- decentralization base.
C
The level of formal hierarchy in the organization.
D
The parts of the organization
divided, mostly relating to the objectives of the
set strategy.
divided, mostly relating to the objectives of the
set strategy.
E
The number of the hierarchical layers.
Açıklama:
The width of the organizational structure refers to the status of the
organization on a centralization-decentralization
continuum, which means whether all the decision
making is done by the center or it is devolved to
the divisions, which is highly dependent on the
power distribution and the existence of specialized
knowledge.
The status of the organization on a
centralization- decentralization base.
organization on a centralization-decentralization
continuum, which means whether all the decision
making is done by the center or it is devolved to
the divisions, which is highly dependent on the
power distribution and the existence of specialized
knowledge.
The status of the organization on a
centralization- decentralization base.
Soru 7
There are various conceptualizations of structure types. here are many definitions for types of structure, and the primary distinction is embedded in the height, width, complexity, and method of division concepts. Among these which of these is described as "The level of formal
hierarchy in an organization which is also related
to the formalization degree"?
hierarchy in an organization which is also related
to the formalization degree"?
Seçenekler
A
Height
B
Horizontal structure
C
Vertical line
D
Complexity
E
Width
Açıklama:
There are various conceptualizations of structure types. here are many definitions for types of structure, and the primary distinction is embedded in the height, width, complexity, and method of division concepts.
The complexity refers to the level of formal
hierarchy in an organization which is also related
to the formalization degree. It has a mutual bond
with strategy implementation. If there are clearly
set guidelines about the details of strategy (e.g.,
objectives and plans), and the answers of Wh
questions, managers set the appropriate formal
hierarchy.
The complexity refers to the level of formal
hierarchy in an organization which is also related
to the formalization degree. It has a mutual bond
with strategy implementation. If there are clearly
set guidelines about the details of strategy (e.g.,
objectives and plans), and the answers of Wh
questions, managers set the appropriate formal
hierarchy.
Soru 8
Which of the structures below is the most appropriate to implement a diversification structure?
Seçenekler
A
Vertical structure
B
Lean structure
C
Divisional structure
D
Functional structure
E
Simple structure
Açıklama:
A divisional structure is appropriate where the organization is growing and being complex, can be
split into divisions, growing through mergers and acquisitions and placed in turbulent environments. To implement a diversification strategy in a diverse range of products or if there are geographical distances between markets, divisional structure is the right structure.
split into divisions, growing through mergers and acquisitions and placed in turbulent environments. To implement a diversification strategy in a diverse range of products or if there are geographical distances between markets, divisional structure is the right structure.
Soru 9
Which of the following is about the challenges with operating in a matrix structure?
Seçenekler
A
Shared authority, and dual lines can create obstacles.
B
Lean nature of operations
C
Horizontal communication
D
Vertical communication
E
Small size of operations
Açıklama:
The shared authority, and
dual lines (e.g., for reporting) can create obstacles in operational efficiency.
The work teams can become confused working under the authority of two managers.
Shared authority, and dual lines can create obstacles.
dual lines (e.g., for reporting) can create obstacles in operational efficiency.
The work teams can become confused working under the authority of two managers.
Shared authority, and dual lines can create obstacles.
Soru 10
Which of the following options cover the main characteristics of stratgeic business units?
Seçenekler
A
Short term, costly, maximizes career development
B
Long term, costly, maximizes career development
C
Short term, minimizes career development
D
Long term, costly, minimizes career development
E
No planning, costly, maximizes career development
Açıklama:
When organizations are getting larger, they change their structure (at least in part) quite frequently. A more feasible structure is the one that allows effective implementation of intended strategies where permitting emergent strategy creation to a desired level. Analyzing the implementation’s main characteristics, they needed to be emphasized that the effectiveness can only be
determined by the behavioral processes and management of resources embedded in the structure. In other words, the given characteristics are the reflection of authority, power, responsibility, where each can also differ in the centralization to decentralization continuum.
Long term, costly, maximizes career development
determined by the behavioral processes and management of resources embedded in the structure. In other words, the given characteristics are the reflection of authority, power, responsibility, where each can also differ in the centralization to decentralization continuum.
Long term, costly, maximizes career development
Soru 11
Which of the following features is not necessary for managers and employees to conduct the strategies in strategic analysis?
Seçenekler
A
They need to be motivated.
B
They need to be positioned in the right structure with the right strategy.
C
They need to work in a strategy supportive culture.
D
They must be ready to adopt new processes.
E
They must be resistant to change.
Açıklama:
TRANSITION FROM STRATEGY FORMULATION TO IMPLEMENTATION
It is essential to highlight that strategic implementation means putting the strategy into action. For this reason, there is a unified alliance with the formulation step where the most appropriate option is chosen via strategic analysis. However, the formulation is not enough alone because managers and the employees are conducting those strategies to realize them. To do this, they need to be motivated, positioned in the right structure with the right strategy, working in a strategy supportive culture, ready to adopt new processes, and prepared to change.
It is essential to highlight that strategic implementation means putting the strategy into action. For this reason, there is a unified alliance with the formulation step where the most appropriate option is chosen via strategic analysis. However, the formulation is not enough alone because managers and the employees are conducting those strategies to realize them. To do this, they need to be motivated, positioned in the right structure with the right strategy, working in a strategy supportive culture, ready to adopt new processes, and prepared to change.
Soru 12
I. This kind of strategy which is set after the environment analysis is combined with the mission, and it is a very prescribed and evidence-based action.
II. This kind of strategy is often prepared in detail.
What kind of strategy is described by the above sentences?
II. This kind of strategy is often prepared in detail.
What kind of strategy is described by the above sentences?
Seçenekler
A
Emergent
B
Deliberate
C
Continuous
D
Transitional
E
Operational
Açıklama:
TRANSITION FROM STRATEGY FORMULATION TO IMPLEMENTATION
The deliberate strategy, which is also known as the intended form of strategy, is set after the environment analysis is combined with the mission, which is a very prescribed and evidence-based action. In contrast, in emergent strategy, the environment is uncertain, and the information is always changing, which can cause crises for organizations. Some industries, such as IT, pharmaceuticals, or digital commerce, are fastchanging, so there is no guarantee for success. For success, learning is vital, and empowerment is a key factor in emergent strategy implementation. In other words, deliberate strategies are often prepared in detail, whereas emergent strategies occur for various reasons.
The deliberate strategy, which is also known as the intended form of strategy, is set after the environment analysis is combined with the mission, which is a very prescribed and evidence-based action. In contrast, in emergent strategy, the environment is uncertain, and the information is always changing, which can cause crises for organizations. Some industries, such as IT, pharmaceuticals, or digital commerce, are fastchanging, so there is no guarantee for success. For success, learning is vital, and empowerment is a key factor in emergent strategy implementation. In other words, deliberate strategies are often prepared in detail, whereas emergent strategies occur for various reasons.
Soru 13
Which of the following is not one of the characteristics of objectives according to Bedeian and Glueck (1983)?
Seçenekler
A
They serve as guidelines for doing what, when, how and by whom of actions.
B
They direct efforts and activities of organization members.
C
They are a source of illegitimacy for all stakeholders.
D
They set work, and time, therefore it leads the performance.
E
They provide a cornerstone for organizational design.
Açıklama:
OBJECTIVES AND POLICIES
According to Bedeian and Glueck (1983) objectives: • serve as guidelines for doing what, when, how and by whom of actions, • direct efforts and activities of organization members, • are a source of legitimacy for all stakeholders, • set work, and time, therefore it leads the performance; • through performance, employees are being identified and motivated, • the hierarchy of objectives serve as a stage to perform, • provide a cornerstone for organizational design.
According to Bedeian and Glueck (1983) objectives: • serve as guidelines for doing what, when, how and by whom of actions, • direct efforts and activities of organization members, • are a source of legitimacy for all stakeholders, • set work, and time, therefore it leads the performance; • through performance, employees are being identified and motivated, • the hierarchy of objectives serve as a stage to perform, • provide a cornerstone for organizational design.
Soru 14
Distributing the right resource to the right purpose and then controlling and making changes due to internal and external environmental changes can be defined as__________________.
Seçenekler
A
resource allocation
B
setting objectives
C
strategic management
D
reducing expenses
E
increasing productivity
Açıklama:
Distributing the right resource to the right purpose and then controlling and making changes due to internal and external environmental changes can be defined as resource allocation.
Soru 15
I. It can be described as the backbone of the strategy formulation and implementation steps.
II. It fundamentally differs on the type of organization (small, medium-sized, MNCs, etc.).
III. Each size requires some form of it, such as simple, functional, and multidivisional.
Which term is described by the above sentences?
II. It fundamentally differs on the type of organization (small, medium-sized, MNCs, etc.).
III. Each size requires some form of it, such as simple, functional, and multidivisional.
Which term is described by the above sentences?
Seçenekler
A
Strategy
B
Distinction
C
Division
D
Structure
E
Management
Açıklama:
Structure and Strategy
A structure can be described as the backbone of the strategy formulation and implementation steps. Managers generate strategies according to the current structure of the organization. Structure fundamentally differs on the type of organization (small, medium-sized, MNCs, etc.). Each size requires some form of structure, such as simple structure, functional structure, and multidivisional structure, as in the given types above.
A structure can be described as the backbone of the strategy formulation and implementation steps. Managers generate strategies according to the current structure of the organization. Structure fundamentally differs on the type of organization (small, medium-sized, MNCs, etc.). Each size requires some form of structure, such as simple structure, functional structure, and multidivisional structure, as in the given types above.
Soru 16
The __________________ refers to the level of formal hierarchy in an organization which is also related to the formalization degree.
Seçenekler
A
width
B
height
C
complexity
D
flexibility
E
empowerment
Açıklama:
Structure and Strategy
The complexity refers to the level of formal hierarchy in an organization which is also related to the formalization degree.
The complexity refers to the level of formal hierarchy in an organization which is also related to the formalization degree.
Soru 17
“In this structure, all the services are separate in the core; however, they are the rings of the chain (organization) and need to be powerful. Therefore, coordination and controlling is an advantage as it is simple and cost-friendly. The authority is centralized, so the communication can be problematic as the specialization may diverse the shared thinking, and the working together may fail”.
What kind of structure is described above?
What kind of structure is described above?
Seçenekler
A
Simple
B
Divisional
C
Complex
D
Strategic
E
Functional
Açıklama:
Structure and Strategy
In this structure, all the services are separate in the core; however, they are the rings of the chain (organization) and need to be powerful. Therefore, coordination and controlling is an advantage as it is simple and cost-friendly. The authority is centralized, so the communication can be problematic as the specialization may diverse the shared thinking, and the working together may fail.
In this structure, all the services are separate in the core; however, they are the rings of the chain (organization) and need to be powerful. Therefore, coordination and controlling is an advantage as it is simple and cost-friendly. The authority is centralized, so the communication can be problematic as the specialization may diverse the shared thinking, and the working together may fail.
Soru 18
Which of the following is not true about divisional structure?
Seçenekler
A
Divisional structure is a popular structure for organizations with several products or services which may or may not be related.
B
These structures are common in multi-national or holding type organizations.
C
A divisional structure has some advantages as decentralizing, which allows managing and controlling according to each divisions’ objectives.
D
More skilled employees are needed in order to take part in the decision making process and delegation of authority.
E
One more advantage of divisions is to be able to control the local factors, which turns out a critical competitive disadvantage for decades.
Açıklama:
Structure and Strategy
Divisional structure is a popular structure for organizations with several products or services which may or may not be related. These structures are common in multi-national or holding type organizations. A divisional structure has some advantages as decentralizing, which allows managing and controlling according to each divisions’ objectives. However, to do so, more skilled employees are needed in order to take part in the decision making process and delegation of authority. One more advantage of divisions is to be able to control the local factors, which turns out a critical competitive advantage for decades.
Divisional structure is a popular structure for organizations with several products or services which may or may not be related. These structures are common in multi-national or holding type organizations. A divisional structure has some advantages as decentralizing, which allows managing and controlling according to each divisions’ objectives. However, to do so, more skilled employees are needed in order to take part in the decision making process and delegation of authority. One more advantage of divisions is to be able to control the local factors, which turns out a critical competitive advantage for decades.
Soru 19
What kind of structure is usually internalized in fast-changing sectors such as technology?
Seçenekler
A
Functional
B
Matrix
C
Simple
D
Divisional
E
Strategic business unit
Açıklama:
Structure and Strategy
Matrix structures are usually internalized in fast-changing sectors such as technology.
Matrix structures are usually internalized in fast-changing sectors such as technology.
Soru 20
Organizational culture influences the following factors (Campbell, Stonehouse & Houston, 2002, p.55) except:
Seçenekler
A
customer motivation
B
morale, career development and goodwill of employees
C
efficiency and productivity
D
work quality
E
interpersonal and inter-organizational relations
Açıklama:
IMPLEMENTATION AND CULTURE
Organizational culture influences the following factors (Campbell, Stonehouse & Houston, 2002, p.55): • employee motivation, • the attractiveness of the organization as an employer and hence the rate of staff turnover, • morale, career development and goodwill of employees, • efficiency and productivity, • work quality, • interpersonal and inter-organizational relations, • workplace attitude of employees, • innovation and creativity.
Organizational culture influences the following factors (Campbell, Stonehouse & Houston, 2002, p.55): • employee motivation, • the attractiveness of the organization as an employer and hence the rate of staff turnover, • morale, career development and goodwill of employees, • efficiency and productivity, • work quality, • interpersonal and inter-organizational relations, • workplace attitude of employees, • innovation and creativity.
Ünite 8
Soru 1
Which of the following is required for strategic evaluation to be very useful in a company?
Seçenekler
A
Auditing
B
Strategic plan
C
Feedback
D
Strategic control
E
Strategic objectives
Açıklama:
Strategic evaluation facilitates, or makes it possible to exercise, strategic control. This suggests that, without strategic control, strategic evaluation alone would not be very useful
Soru 2
Which of the following stakeholders is expected to participate in the strategic evaluation and control process of a company?
Seçenekler
A
Wholesalers
B
Customers
C
Shareholders
D
Intermediaries
E
Insurance companies
Açıklama:
Among the major stakeholders are shareholders, financial institutions that lend capital to organizations, and the government. Shareholders could participate in the evaluation and control process because every organization is ultimately
responsible to its shareholders.
responsible to its shareholders.
Soru 3
Why feedforward control is the most desirable type of control by the managers?
Seçenekler
A
It takes less time compared to other control mechanisms
B
It allows managers to prevent problems early
C
Its cost is less than the other control mechanisms
D
It does not require much data
E
It does not require much paperwork
Açıklama:
Feedforward controls are the most desirable types of control because they allow management to prevent problems (e.g., poor quality products,
lost customers, etc.) rather than having to solve them later.
It allows managers to prevent problems early
lost customers, etc.) rather than having to solve them later.
It allows managers to prevent problems early
Soru 4
When output in a company is difficult to measure and cause-effect relationship between behavior and performance is not clear, which of the following control is most appropriate?
Seçenekler
A
Input control
B
Output control
C
Behavior control
D
Concurrent control
E
Feedforward control
Açıklama:
Input controls are most appropriate when output is difficult to measure and there is no clear cause-effect relationship between behavior and performance.
Soru 5
Which of the following performance standards requires a subjective assesment to be established?
Seçenekler
A
Market share
B
Number of sales
C
Profit
D
Employee creativity
E
Cost of distribution
Açıklama:
Some performance standards like employee morale, creativity, organizational competencies, cannot be expressed in quantitative or objective terms. In such cases, qualitative criteria or subjective assessments need to be used in order to
establish performance standards
Employee creativity
establish performance standards
Employee creativity
Soru 6
Which of the following systems is directly related to strategic evaluation and
control in the organization?
control in the organization?
Seçenekler
A
Marketing systems
B
Information systems
C
Production systems
D
Organizational systems
E
Managerial systems
Açıklama:
The major organizational systems that are directly related to evaluation and
control are information systems and reward and appraisal systems
control are information systems and reward and appraisal systems
Soru 7
Which of the strategic evaluation and control systems will be suggested to a company that wants to use a holistic approach rather than focusing on separate activities or organizational departments?
Seçenekler
A
Critical Path Method (CPM)
B
Network Scheduling Technique
C
Balance Scorecard Method
D
Benchmarking
E
VRIO Framework
Açıklama:
Balanced scorecard method involves adopting a holistic approach to the organization rather than focusing on individual activities or organizational departments
Balance scorecard method
Balance scorecard method
Soru 8
In a company.................... center is the responsible center mainly for generating sales. Which of the following options fills the blank in the sentence?
Seçenekler
A
excellence
B
investment
C
profit
D
revenue
E
success
Açıklama:
A revenue center is a responsibility center that is charged mainly with generating sales
Soru 9
In implementation control...................................involves a critical point or event in a program, project or strategic plan, where significant decisions must be made. Which of the following options fills the blank in the sentence?
Seçenekler
A
critical path
B
strategic surveillance
C
strategic network
D
strategic thrusts
E
milestone reviews
Açıklama:
Implementation control may be enacted by milestone reviews and monitoring strategic thrusts. A milestone is a critical point or event in a program,
project or strategic plan, where significant decisions are made.
project or strategic plan, where significant decisions are made.
Soru 10
Which type of control must be used by an automobile manufacturer in order to reassess the firm’s strategy when it is faced with the COVID-19 Pandemic?
Seçenekler
A
Special alert contol
B
Feedforward control
C
Output control
D
Premise control
E
Implementation control
Açıklama:
Special alert control is used in order to reassess a firm’s strategy when a sudden, unexpected event occurs, such as a sudden hike in currency exchange rate, instant change in a rival firm’s strategy, sudden acquisitionof a leading rival, an unexpected product difficulty, a natural catastrophe or emergence of a pandemic.
Special alert contol
Special alert contol
Soru 11
Which of the following options is the final stage of the strategic management process?
Seçenekler
A
Strategic evaluation and control
B
External environment analysis
C
Strategy formulation
D
Strategy generation and selection
E
Strategy implementation
Açıklama:
As seen, the final stage of strategic management process is the process of strategic evaluation and control. The correct answer is A.
Soru 12
Which of the following options is related to the reason why strategies fail?
Seçenekler
A
Lacking Planning and Control
B
Competent Management
C
Adequate Strategy
D
Implementation Plan
E
Commanding and Control
Açıklama:
The reading below mentions some of the most common reasons why strategies fail. The reason #5 in the Figure (i.e. lacking planning and control) is especially important as it is the focus of this Unit. Here are the whole reasons: 1. INCOMPETENT MANAGEMENT, 2. VAGUE STRATEGIC VISION, 3. INADEQUATE STRATEGY, 4. NO IMPLEMENTATION PLAN, 5. LACKING PLANNING AND CONTROL, 6. NEGLECT OF POLITICAL INTEREST, 7. CULTURE OF FEAR. The correct answer is A.
Soru 13
What is the process of determining the effectiveness of a given strategy in achieving organizational objectives and taking corrective action wherever required to continually ensure its effectiveness?
Seçenekler
A
Strategic evaluation and control
B
Implementation plan
C
Strategy generation and selection
D
Effective planning and control
E
Vague strategic vision
Açıklama:
Strategic evaluation and control: The process of determining the effectiveness of a given strategy in achieving organizational objectives and taking corrective action wherever required to continually ensure its effectiveness. The correct answer is A.
Soru 14
Which of the following options is one of the purposes of the Strategic Evaluation and Control phase?
Seçenekler
A
To determine how well the organization is performing
B
To implement formulated strategies
C
To formulate strategies in the light of SWOT analysis
D
To conduct SWOT analysis
E
To identify strengths in organizational environment
Açıklama:
When we look at Table 8.1 Comparison of Purposes of Strategic Evaluation and Control and Other Two Stages, the purposes of Strategic Evaluation and Control are:
− the assumptions forming the bases of strategies are still valid,
− strategies are being implemented properly,
− there is a need to change the strategy,
− the strategy is guiding the organization towards the desired objectives,
− how well the organization is performing,
− if the resources are being utilized properly,
− what needs to be done to ensure that resources are utilized properly, and objectives are met,
− if there is any significant gap between the desired and actual outcomes,
− what kind of (corrective) actions are necessary to achieve the desired outcomes.
The correct answer is A.
- To evaluate if
− the assumptions forming the bases of strategies are still valid,
− strategies are being implemented properly,
− there is a need to change the strategy,
− the strategy is guiding the organization towards the desired objectives,
- To determine
− how well the organization is performing,
− if the resources are being utilized properly,
− what needs to be done to ensure that resources are utilized properly, and objectives are met,
− if there is any significant gap between the desired and actual outcomes,
− what kind of (corrective) actions are necessary to achieve the desired outcomes.
The correct answer is A.
Soru 15
The process of strategic evaluation and control offers various benefits to managers. Which of the following options is not one of these benefits?
Seçenekler
A
Evaluation and control provide feedback on the current performance of research and development strategies being implemented by top managers.
B
Evaluation and control help top managers to determine if the strategic choice made during the formulation phase is still relevant to organizational objectives.
C
Evaluation and control also help top managers to assess whether the decisions they made during the course of strategy implementation are consistent with the requirements of that strategy.
D
Evaluation and control enable top managers to make a solid assessment of what kind of corrective actions need to be taken if implemented strategies are not likely to generate the desired or established outcomes.
E
Evaluation and control make it possible for top managers to control the performance of organizational subunits and coordinate.
Açıklama:
The process of strategic evaluation and control offers various benefits to managers (see Kazmi & Kazmi, 2015, pp: 684-685; Robbins et. al., 2013).
The correct answer is A.
- First, evaluation and control make it possible for top managers to control the performance of organizational subunits (departments, divisions, etc.) and coordinate various tasks performed within the organization.
- Second, evaluation and control help top managers to determine if the strategic choice (i.e., the choice of which strategy to be implemented) made during the formulation phase is still relevant to organizational objectives.
- Evaluation and control also help top managers to assess whether the decisions they made during the course of strategy implementation are consistent with the requirements of that strategy.
- Fourth, evaluation and control provide feedback on the current performance of strategies being implemented.
- Finally, evaluation and control enable top managers to make a solid assessment of what kind of corrective actions need to be taken if implemented strategies are not likely to generate the desired or established outcomes (Kazmi & Kazmi, 2015; Robbins et. al., 2013).
The correct answer is A.
Soru 16
Various entities participate in the process of strategic evaluation and control. Which of the following is one of these entities?
Seçenekler
A
Stakeholders
B
Competitors
C
Regulations
D
Customers
E
Practitioners
Açıklama:
Various entities participate in the process of strategic evaluation and control, including stakeholders, the board of directors and top-level managers. The correct answer is A.
Soru 17
There are many difficulties in the process of strategic evaluation and control. Which one of the following is not one of these difficulties?
Seçenekler
A
Long-term orientation
B
Amount of control to exert
C
Measurement difficulties
D
Resistance to evaluation
E
Using efficiency or effectiveness
Açıklama:
There are many difficulties in the process of strategic evaluation and control. These obstacles are related to the amount of control to exert, measurement difficulties, resistance to evaluation and control, short-term orientation in measuring results, and using efficiency or effectiveness as the measurement criteria. The correct answer is A.
Soru 18
What is the name of the obstacle in the strategic evaluation and control process which managers' tendency to measure the immediate results of activities or strategic plans?
Seçenekler
A
Short-Term Orientation
B
Amount of Control to Exert
C
Difficulties in Measurements
D
Resistance to Evaluation
E
Relying on Efficiency Versus Effectiveness
Açıklama:
Short-Term Orientation: Another obstacle in the strategic evaluation and control process is managers’ tendency to measure the immediate results of activities or strategic plans. Managers usually rely on short-term results because they may not realize the importance of long-term results, or they find assessing the short-term results easier than assessing the long-term results. The correct answer is A.
Soru 19
Which one of the following can be defined as “the management function that involves monitoring activities to ensure that they are being accomplished as planned and correcting any significant deviations?”
Seçenekler
A
Control
B
Command
C
Timing
D
Feedback
E
Output
Açıklama:
Control can be defined as “the management function that involves monitoring activities to ensure that they are being accomplished as planned and correcting any significant deviations” The correct answer is A.
Soru 20
Which of the following types of control is defined as the control implemented while a work activity is in progress?
Seçenekler
A
Concurrent Control
B
Forward Control
C
Feedback Control
D
Output Control
E
Behavior Control
Açıklama:
Concurrent control is implemented while a work activity is in progress. It corrects problems as they happen. The correct answer is A.