Question 1

Strategy refers to
A) an organization's long-term course of action designed to deliver a unique customer experience while achieving its goals.
B) an organization's corporate tactical or action plan.
C) statement of an accomplishment of a task to be achieved by a certain time.
D) a statement of the organization's function in society, often identifying its customers, markets, product, and technologies.
E) a road map for the entire organization for a specified future period of time, such as one or five years.

Accepted Answer

Strategy is about the long-term course of action that an organization takes to deliver a unique customer experience and achieve its goals.

Question 2

The level in an organization where top management directs overall strategy for the entire organization is the ________ level.
A) corporate
B) functional
C) directive
D) strategic
E) tactical

Accepted Answer

The corporate level is the highest level in an organization where top management directs overall strategy for the entire organization.

Question 3

Figure 2-1
-In Figure 2-1 above, C represents the ________ of an organization.
A) strategic business unit level
B) board of directors
C) corporate level
D) functional level
E) CMO

Accepted Answer

The answer of  Figure 2-1
-In Figure 2-1 above, C...

Question 4

Which is not an example of an industry?
A) software firms
B) automobile companies
C) fashion companies
D) government agencies
E) cable television organizations

Accepted Answer

Government agencies are not considered an industry as they are part of the public sector and do not operate for profit like the other examples, which are part of the private sector industries.

Question 5

An industry refers to
A) organizations that develop similar offerings.
B) organizations that manufacture identical products to meet ISO 9000 specifications.
C) companies that are active in the production of materials used in finished products.
D) a group of people or firms united through strategic alliances.
E) the economic activity concerned with the selling of finished products to wholesalers and retailers.

Accepted Answer

An industry is a group of organizations that develop similar offerings, typically producing goods or services that are closely related or serve similar markets.

Question 6

Large organizations are extremely complex, and usually consist of ________ organizational levels overseen by a board of directors.
A) two
B) three
C) five
D) six
E) seven or more

Accepted Answer

The answer of Large organizations are extremely complex, and usually...

Question 7

A board of directors of an organization
A) represents the functional level.
B) oversees the three levels of strategy.
C) is equivalent to the corporate level.
D) reports to the CEO.
E) represents the strategic business unit level.

Accepted Answer

The board of directors oversees the three levels of strategy: corporate, business, and functional, ensuring that the organization is aligned with its strategic goals.

Question 8

Teach for America works to solve which societal problem?
A) It provides new college graduates as teachers in urban and rural public schools in the United States.
B) It works to end corneal blindness worldwide by training doctors to do corneal surgeries, finding cornea donors and creating tissue banks.
C) It provides education, training, and small business loans to women in impoverished areas so that they can help themselves.
D) It offers free access to graduate education for injured U.S. veterans returning from overseas conflict.
E) It offers tax credits to small businesses to employ at-risk youth in their communities.

Accepted Answer

Teach for America focuses on addressing educational inequity by placing new college graduates as teachers in under-resourced urban and rural public schools in the United States.

Question 9

An organization's long-term course of action designed to deliver a unique customer experience while achieving its goals is a
A) marketing device.
B) policy.
C) strategy.
D) plan.
E) tactic.

Accepted Answer

A strategy is a long-term plan of action designed to achieve a particular goal or set of goals or objectives, often involving delivering a unique customer experience.

Question 10

________ can use a variety of organizational models to address social needs that inspire passion, including health care delivery, the cost of higher education, and agricultural efficiency.
A) Corporate welfare
B) A social entrepreneur
C) Sustainable development
D) Cause marketing
E) Societal capitalism

Accepted Answer

A social entrepreneur is someone who uses innovative solutions to address social issues and can employ various organizational models to tackle challenges in areas like healthcare, education, and agriculture.

Question 11

Figure 2-1
-In Figure 2-1 above, D represents the ________ of an organization that is comprised of individual departments.
A) strategic business unit level
B) board of directors
C) corporate level
D) functional level
E) CMO

Accepted Answer

The answer of  Figure 2-1
-In Figure 2-1 above, D...

Question 12

FreeWill is an organization created to help make estate planning warm, accessible, and totally free so that users can easily care for the people and causes they love. To date, more than 32,000 people have used the service to create a will, and they have committed more than $373 million to charity. FreeWill is an example of
A) a cooperative.
B) an industry.
C) a nonprofit organization.
D) a business firm.
E) a government agency.

Accepted Answer

FreeWill is a nonprofit organization because it provides a free service to help people with estate planning and facilitates charitable giving, rather than operating for profit.

Question 13

Organizations that develop similar offerings, when grouped together, create
A) a conglomerate.
B) a merger.
C) an industry.
D) a sector.
E) a monopoly.

Accepted Answer

An industry is a group of organizations that develop similar offerings, such as products or services, and compete within the same market.

Question 14

Which statement about strategy is most accurate?
A) An organization can be all things to all people because it has access to all the resources it needs to discover and satisfy the needs and wants of its target markets.
B) The marketing department helps to both set an organization's direction and move it there.
C) The American Marketing Association (AMA) recently has established the definition of strategy.
D) Strategy is an organization's short-term course of action designed to deliver a specific customer experience while achieving its internal standards.
E) Only start-up organizations must develop strategies to help them raise capital as well as focus and direct their efforts to accomplish their goals.

Accepted Answer

The marketing department plays a crucial role in setting the organization's direction and implementing strategies to achieve its goals.

Question 15

Figure 2-1
-In Figure 2-1 above, E represents the ________ that make up the functional level of an organization.
A) board of directors
B) executive level
C) hourly employees
D) production personnel
E) departments

Accepted Answer

Departments make up the functional level of an organization, as they are responsible for specific functions or tasks within the organization.

Question 16

According to the textbook, the terms firm, company, and organization
A) refer to for-profits, nonprofits, and government agencies, respectively.
B) refer to nonprofits, government agencies, and for-profits, respectively.
C) refer to government agencies, for-profits, and nonprofits, respectively.
D) refer to for-profits, government agencies, and nonprofits, respectively.
E) can be used interchangeably to cover both profit and nonprofit organizations.

Accepted Answer

The terms firm, company, and organization can be used interchangeably to refer to both profit and nonprofit entities.

Question 17

Figure 2-1
-In Figure 2-1 above, B represents the ________, the highest of the three levels of strategy in an organization.
A) functional level
B) board of directors
C) corporate level
D) CEO
E) strategic business unit level

Accepted Answer

The corporate level is the highest level of strategy in an organization, where decisions are made that affect the entire organization.

Question 18

Ling is in the business of connecting homeless with free shelters, and she funds her business through charitable donations and by placing ads in the shelters. She takes a small salary but reinvests whatever is left to grow the operation. Ling's business is a
A) business firm.
B) subchapter S corporation.
C) charitable service agency.
D) cooperative.
E) nonprofit organization.

Accepted Answer

Ling's business is a nonprofit organization because it is funded through charitable donations, focuses on providing a social service, and reinvests any surplus to further its mission rather than distributing profits.

Question 19

Teach for America is an example of
A) an entrepreneurial business firm.
B) a government agency.
C) a nonprofit organization.
D) a public value agency.
E) a 501(c)(3) for-profit organization.

Accepted Answer

Teach for America is a nonprofit organization that recruits and trains teachers to work in underserved schools. It operates under the 501(c)(3) status, which is designated for nonprofit entities.

Question 20

Figure 2-1
-In Figure 2-1 above, Box A represents the ________ that oversees the three levels of strategy in an organization.
A) functional level
B) board of directors
C) corporate level
D) CEO
E) strategic business unit level

Accepted Answer

The board of directors is responsible for overseeing the entire organization, including all levels of strategy, ensuring alignment with the organization's goals and objectives.

Quiz 2: Developing Successful Organizational and Marketing Strategies

Strategy refers to

The level in an organization where top management directs overall strategy for the entire organization is the ________ level.

Figure 2-1 -In Figure 2-1 above, C represents the ________ of an organization.

Which is not an example of an industry?

An industry refers to

Large organizations are extremely complex, and usually consist of ________ organizational levels overseen by a board of directors.

A board of directors of an organization

Teach for America works to solve which societal problem?

An organization's long-term course of action designed to deliver a unique customer experience while achieving its goals is a

________ can use a variety of organizational models to address social needs that inspire passion, including health care delivery, the cost of higher education, and agricultural efficiency.

Figure 2-1 -In Figure 2-1 above, D represents the ________ of an organization that is comprised of individual departments.

Organizations that develop similar offerings, when grouped together, create

Which statement about strategy is most accurate?

Figure 2-1 -In Figure 2-1 above, E represents the ________ that make up the functional level of an organization.

According to the textbook, the terms firm, company, and organization

Figure 2-1 -In Figure 2-1 above, B represents the ________, the highest of the three levels of strategy in an organization.

Ling is in the business of connecting homeless with free shelters, and she funds her business through charitable donations and by placing ads in the shelters. She takes a small salary but reinvests whatever is left to grow the operation. Ling's business is a

Teach for America is an example of

Figure 2-1 -In Figure 2-1 above, Box A represents the ________ that oversees the three levels of strategy in an organization.