Deck 10: Strategy + CSR

Question 1

Walmart most likely has a higher CSR threshold because

A)it is a big company.
B)it deals with the public.
C)it has a business strategy that pursues low costs.
D)it is undertaking an extensive corporate social responsibility effort.

Answer 1

C

Question 2

The ________ perspective assumes a zero-sum game and a confrontational view.

A)focused
B)industry
C)resources
D)strategic CSR

Answer 2

B

Question 3

In Europe,pressure for corporate social responsibility is more likely to come from

A)courts.
B)governments.
C)nonprofits (NGOs).
D)competitors.

Answer 3

C

Question 4

You own a small bakery and focus on developing highly skilled employees and baking the best,highest quality,and most tasty bakery items possible,with little regard for what other bakeries are doing.This best exemplifies the ________ perspective on business strategy.

A)industry
B)financial
C)strategic CSR
D)resources

Question 5

The ________ are the day-to-day management decisions made to implement the firm's ________.

A)strategies,tactics
B)tactics,strategies
C)tactics,vision
D)strategies,vision

Question 6

"Ending hunger in the community" and "feeding the poor" illustrate the relationship between

A)strategy and tactics.
B)profits and revenue.
C)vision and mission.
D)aspirations and strategy.

Question 7

In Jay Barney's model,VRIO stands for which four concepts?

A)Variability,Returns,Industry,Operations
B)Valuable,Rare,Imitate,Organized
C)Valuable,Returns,Industry,Organized
D)Variability,Rare,Imitate,Operations

Question 8

Which of the following is a limitation of the resources perspective?

A)It provides a description of the firm that is overly deliberate and rational.
B)It focuses too much on a firm's competitors.
C)It provides a description of the firm that is not very deliberate or rational.
D)It presents business as a combative pursuit.

Question 9

What are the firm's most valuable resources or most innovative capabilities?

A)Its people
B)Its finances
C)Its competencies
D)Its strategies

Question 10

For any business,the pursuit of ________ is so broad a mandate that it offers little guidance about where to begin or what to do.

A)vision
B)strategy
C)mission
D)profit

Question 11

The need that the organization strives to meet forms the basis of its

A)aspirations or vision.
B)strategy.
C)profits.
D)mission.

Question 12

The firm's ________ identifies what the organization is going to do in order to attain its ________.

A)profitability,revenue target
B)mission,profits
C)mission,vision
D)vision,mission

Question 13

Which of the following does Porter's Five Forces Model NOT include?

A)Suppliers
B)Buyers
C)Government regulation
D)Industry rivalry

Question 14

With which of the following is Michael Porter is most closely associated?

A)Strategic CSR
B)The industry perspective
C)The resources perspective
D)SWOT analysis

Question 15

Prahalad and Hamel are most closely associated with which of the following?

A)Strategic CSR
B)The industry perspective
C)The resources perspective
D)SWOT analysis

Question 16

The ________ determines how the organization is going to undertake its ________.

A)strategy,mission
B)mission,tactics
C)vision,mission
D)vision,strategy

Question 17

Firms that sell based on price are likely

A)to pay greater attention to corporate social responsibility.
B)to have the resources to mount an effective corporate social responsibility campaign.
C)to attract less attention from consumers on issues unrelated to price.
D)to be big and thus attract greater attention from interest groups.

Question 18

IKEA's ________ statement is "To create a better everyday life for the many people."

A)mission
B)vision
C)strategy
D)tactics

Question 19

The resources perspective on business strategy

A)deemphasizes the external context in which the firm operates.
B)has been disproven through research.
C)is too narrow,focusing only on assets,not processes.
D)focuses on the firm's competitive operating environment.

Question 20

The ________ perspective is an ________ view of the firm that identifies its unique resources as the main determinant of a competitive advantage.

A)resources,internal
B)industry,external
C)resources,external
D)industry,internal

Question 21

The textbook states that companies can pursue an effective corporate social responsibility policy of either offense or defense.What does this mean? In your answer,provide detailed examples of both approaches.

Question 22

Why do some firms,industries,and cultures have different CSR thresholds than others? Illustrate your answer with examples for all three categories.

Question 23

According to the textbook,the United States Climate Action Partnership (USCAP),formed by a group of energy and manufacturing firms,is

A)CSR as brand insurance.
B)CSR as a corporate social opportunity.
C)CSR as a key component of cost-benefit analysis.
D)CSR as an offensive strategy.

Question 24

The urgency with which corporate social responsibility policies are implemented depends on the perceived CSR threshold and the priority the issue holds for the firm's leaders.

Question 25

Walmart's core competency is efficient distribution.

Question 26

SWOT analyses allow firms to identify their

A)Strategies,Wealth,Opportunities,and Theories.
B)Strategies,Weaknesses,Organization,and Threats.
C)Strengths,Wealth,Opportunities,and Theories.
D)Strengths,Weaknesses,Opportunities,and Threats.

Question 27

According to Prahalad and Hamel,a firm's capability must meet three criteria to be truly considered a core competency.Which of the following is NOT one of the criteria?

A)It should be applicable to multiple markets.
B)It should emphasize the external context in which the firm operates.
C)It should be valued by the consumer.
D)It should be difficult for a competitor to imitate.

Question 28

A company with a ________ is more vulnerable to CSR transgressions than a company with a ________.

A)lifestyle brand strategy; low-cost strategy
B)low-cost strategy; lifestyle brand strategy
C)differentiation strategy; lifestyle brand strategy
D)low-cost strategy; differentiation strategy

Question 29

As the news media and blogosphere continue to expose corporate social responsibility transgressions and people are better able to compare conditions across cultures,what will happen with societal tolerance for irresponsible behavior?

A)It will increase.
B)It will not change.
C)It will decrease.
D)It will be accounted for primarily in financial terms rather than cultural terms.

Question 30

The CSR threshold is higher in the financial/banking industry than in the apparel industry because

A)less money is involved when consumers purchase clothing than when they buy banking/financial products such as home mortgages.
B)it is harder for consumers to identify a victim caused by a CSR violation in the financial/banking industry.
C)the apparel industry has dramatically improved supply chain issues such as the use of sweatshop labor.
D)bank customers have a great deal of power and can demand more responsible actions from financial institutions.

Question 31

The Honest Company,founded by actress Jessica Alba,sells products such as baby diapers,wipes,and other personal care products.The Honest Company describes its products as being "made without health-compromising chemicals or compounds." This company has a ________ CSR threshold.

A)low
B)medium
C)high
D)extremely high

Question 32

________ countries have taken the lead in environmental management.

A)Asian
B)European
C)North American
D)South American

Question 33

A central feature of Prahalad and Hamel's model of business strategy is its focus on

A)functional business units within a firm.
B)core competencies within a firm.
C)core competencies of competing firms.
D)firm comparisons across industries.

Question 34

Define SWOT analysis and provide an example of how such an analysis could be applied to a specific business.

Question 35

Define each of the following terms: vision,mission,strategy,and tactics.What is the relationship among them in relation to a firm's strategic planning process?

Question 36

The CSR threshold is the same for all companies in all industries.

Question 37

The United States is more self-sufficient in the area of natural resources than is Europe; therefore,the United States has less need from the economic perspective of corporate social responsibility to preserve natural resources .

Question 38

CSR can be viewed as

A)a set of defensive policies.
B)a set of offensive strategies.
C)Both of the above
D)Neither of the above

Question 39

Outline the industry perspective on business strategy.Choose an example industry and conduct an analysis of its competitive structure using Porter's Five Forces model.

Question 40

Vision statements do not need to appeal to multiple stakeholders.