Question 1

Acme Global is trying to predict and prepare for what its competitors will do next.In a way,Acme Global is scrambling and jockeying for position in the market.This attempt to predict and prepare is part of the ______ section of the five-forces analysis.
A) power of suppliers
B) power of buyers
C) threat of substitute products and services
D) rivalry among competitors

Accepted Answer

The attempt to predict and prepare for competitors' next moves is part of the analysis for rivalry among competitors in the industry. The other options (power of suppliers, power of buyers, threat of substitute products and services) are all separate sections in the five-forces analysis that focus on different aspects of the industry competition.

Question 2

Christina recommends that the organization invest in creating a strong brand image so consumers will be willing to pay more for its product than they are willing to pay for its competitor's product.Christina is recommending the ______ strategy.
A) branding
B) cost leadership
C) differentiation
D) focus

Accepted Answer

Christina is recommending the differentiation strategy, which involves creating a strong brand image that will differentiate the organization's product from its competitors and justify a higher price. The branding strategy is a component of differentiation. Cost leadership involves producing a product at the lowest cost possible and selling it at a lower price than competitors. The focus strategy involves targeting a specific market niche.

Question 3

An organization following a ______ strategy will be concerned with finding employees who are flexible and adaptable,who have the ability to innovate and create new processes,and who can work in uncertain environments within cross-functional teams.
A) generic cost leadership
B) focus
C) mission
D) differentiation

Accepted Answer

A differentiation strategy focuses on providing unique or superior value to customers, which often requires employees with certain skills and attributes, such as flexibility, creativity, and teamwork. Therefore, an organization following a differentiation strategy is likely to seek out and attract employees who possess these qualities.

Question 4

Acme Global is considering what the organization will look like in 10 years and what the vision of the organization is.From this,it is clear that Acme Global is trying to answer which of the following major strategic question?
A) What is our present situation?
B) Where do we want to go?
C) How do we plan to get there?
D) What should our strategy be?

Accepted Answer

Acme Global is trying to answer the major strategic question of "Where do we want to go?" by considering what the organization will look like in 10 years and what the vision of the organization is. This is related to the development of the organization's long-term goals and objectives.

Question 5

An organization following a ______ strategy will be most interested in minimizing all internal costs,including employee costs.Such an organization will be concerned with maximum efficiency and effectiveness.
A) differentiator
B) generic cost leadership
C) niche
D) vision

Accepted Answer

The best choice is the generic cost leadership strategy. This strategy involves minimizing internal costs and focusing on efficiency and effectiveness to offer the lowest prices in the market. This organization is not focused on differentiation or serving a niche market, but on being the low-cost leader in their industry. The concept of vision is not relevant to the question.

Question 6

A powerful vision combined with a well-identified mission work together in an organization to create ______.
A) focus
B) employability
C) product analysis
D) cultural awareness

Accepted Answer

A clear vision and mission statement give an organization direction and purpose, which helps to focus efforts and resources in achieving its goals.

Question 7

Acme Global managers and executives have created a statement describing expectations of what the organization is going to do to become the organization that has been envisioned.In other words,Acme Global has created a(n)______.
A) vision
B) organizational structure
C) mission statement
D) strategy

Accepted Answer

A mission statement describes how an organization plans to achieve its vision, which is a broad and aspirational statement of the company's future goals. An organizational structure refers to how a company organizes its staff and operations, and a strategy refers to a specific plan of action to achieve goals. Therefore, the best choice is C, as a mission statement is the most appropriate answer for a statement describing expectations of what the organization is going to do to achieve its goals.

Question 8

Andrew recommends that the organization do everything it can to lower the organizational costs required to produce widgets while still charging customers the same price for the product.Andrew is recommending the ______ strategy.
A) cost cutting
B) cost leadership
C) differentiation
D) niche

Accepted Answer

Andrew is recommending a cost leadership strategy, where the organization focuses on producing products at lower costs than competitors and charging customers the same price. This allows the organization to be competitive in pricing while maintaining profitability.

Question 9

On its website,Acme Global published a statement of what the various organizational units will do and what each will accomplish to fulfill the organization's vision.This is a ______ statement.
A) strategy
B) mission
C) HR scorecard
D) structure

Accepted Answer

A mission statement outlines the purpose and objectives of an organization and what it aims to achieve. It typically includes information on organizational values and goals, as well as the services or products offered. In this case, Acme Global's statement outlines what each unit will do to fulfill the organization's vision, which aligns with the purpose and objectives of a mission statement.

Question 10

Differentiation attempts to create an impression of difference for the company's product or service in the mind of the ______.
A) manager
B) customer
C) employee
D) shareholder

Accepted Answer

Differentiation strategies aim to make the company's product or service stand out in the mind of the customer, distinguishing it from competitors. Therefore, the desired impression should be created in the customer's mind.

Question 11

On its website,Acme Global published a statement of what it expects to become as an organization in 10 years.It does not say how Acme Global will achieve this future state.This is a ______ statement.
A) mission
B) strategy
C) vision
D) culture

Accepted Answer

A statement of what an organization expects to become in the future is a vision statement. A mission statement outlines the organization's purpose, while a strategy outlines how the organization plans to achieve its goals. Culture refers to an organization's shared values, beliefs, and behaviors. Since the statement only describes the future state without outlining how to achieve it, it can only be a vision statement.

Question 12

The Snapple products produced by Dr.Pepper follow the ______ strategy.
A) cost leader
B) price leader
C) differentiation
D) focus or niche

Accepted Answer

The answer of The Snapple products produced by Dr.Pepper follow...

Question 13

Acme Global has endeavored to drive out all unnecessary business expenses in its operations.Acme Global is likely following a ______ strategy.
A) niche
B) cost leader
C) focus leader
D) differentiation

Accepted Answer

Acme Global's focus on driving out unnecessary business expenses is indicative of a cost leader strategy, which aims to achieve the lowest possible cost of operation in the industry.

Question 14

Acme Global is examining whether their products satisfy their customers' current needs and considering whether they have the right kind of workforce in place.From this,it is clear that Acme Global is trying to answer which of the following major strategic questions?
A) What is our present situation?
B) Where do we want to go?
C) How do we plan to get there?
D) What should our strategy be?

Accepted Answer

Examining customer satisfaction and workforce alignment indicates that Acme Global is assessing its current state, which corresponds to understanding "What is our present situation?" This involves evaluating both external market conditions and internal capabilities.

Question 15

Acme Global is seeking information on how to create a plan that will allow it to reach its goals.In doing so,Acme Global is trying to answer which of the following major strategic questions?
A) What is our present situation?
B) Where do we want to go?
C) How do we plan to get there?
D) What should our mission be?

Accepted Answer

Creating a plan to reach goals involves strategizing on how to move from the current position to the desired future state, which directly answers the question, "How do we plan to get there?"

Question 16

A strong vision and a good mission statement are critical parts of the ______ planning process.
A) environmental
B) mission
C) informal
D) strategic

Accepted Answer

A strong vision and a good mission statement are critical parts of the strategic planning process. Strategic planning involves setting long-term goals, determining actions to accomplish those goals, and allocating resources to achieve them. A clearly defined vision and mission provide guidance and direction for the organization's strategic decisions and actions.

Question 17

Walmart is well-known for following the ______ strategy.
A) cost leader
B) price leader
C) broad differentiation
D) niche based on differentiation

Accepted Answer

Walmart follows the cost leader strategy, which means offering the lowest prices possible to gain a competitive advantage. They achieve this by minimizing costs in their supply chain and operations, which allows them to pass on lower prices to customers.

Question 18

Nike and Coca-Cola are well-known for following the ______ strategy.
A) cost leader
B) price leader
C) differentiation
D) focus or niche

Accepted Answer

Nike and Coca-Cola have both invested heavily in branding and marketing to create a unique image and differentiate themselves from competitors. They are not necessarily the cheapest option, but consumers are willing to pay a premium for the perceived quality and values associated with these brands. This is a differentiation strategy.

Question 19

Victor recommends that the organization focus on selling its products to people aged 65 and older.Victor is recommending the ______ strategy.
A) senior
B) cost leadership
C) differentiation
D) niche

Accepted Answer

Victor is recommending a niche strategy, which is a focused approach to targeting a specific customer segment. By suggesting that the organization focus on selling to people aged 65 and older, Victor is recommending that they concentrate their efforts on a specific demographic and tailor their products and marketing efforts to meet their needs and preferences. This approach can be an effective way to differentiate from competitors and build strong customer relationships within a specific market segment.

Question 20

In most organizations,the mission is generally narrower and more ______ than the vision.
A) general
B) formal
C) specific
D) informal

Accepted Answer

The mission of an organization typically outlines more specific goals and objectives compared to the broader, more general vision statement. The mission statement describes how the organization intends to achieve its overall vision.

Quiz 2: Strategy-Driven Human Resource Management

Acme Global is trying to predict and prepare for what its competitors will do next.In a way,Acme Global is scrambling and jockeying for position in the market.This attempt to predict and prepare is part of the ______ section of the five-forces analysis.

Christina recommends that the organization invest in creating a strong brand image so consumers will be willing to pay more for its product than they are willing to pay for its competitor's product.Christina is recommending the ______ strategy.

An organization following a ______ strategy will be concerned with finding employees who are flexible and adaptable,who have the ability to innovate and create new processes,and who can work in uncertain environments within cross-functional teams.

Acme Global is considering what the organization will look like in 10 years and what the vision of the organization is.From this,it is clear that Acme Global is trying to answer which of the following major strategic question?

An organization following a ______ strategy will be most interested in minimizing all internal costs,including employee costs.Such an organization will be concerned with maximum efficiency and effectiveness.

A powerful vision combined with a well-identified mission work together in an organization to create ______.

Acme Global managers and executives have created a statement describing expectations of what the organization is going to do to become the organization that has been envisioned.In other words,Acme Global has created a(n) ______.

Andrew recommends that the organization do everything it can to lower the organizational costs required to produce widgets while still charging customers the same price for the product.Andrew is recommending the ______ strategy.

On its website,Acme Global published a statement of what the various organizational units will do and what each will accomplish to fulfill the organization's vision.This is a ______ statement.

Differentiation attempts to create an impression of difference for the company's product or service in the mind of the ______.

On its website,Acme Global published a statement of what it expects to become as an organization in 10 years.It does not say how Acme Global will achieve this future state.This is a ______ statement.

The Snapple products produced by Dr.Pepper follow the ______ strategy.

Acme Global has endeavored to drive out all unnecessary business expenses in its operations.Acme Global is likely following a ______ strategy.

Acme Global is examining whether their products satisfy their customers' current needs and considering whether they have the right kind of workforce in place.From this,it is clear that Acme Global is trying to answer which of the following major strategic questions?

Acme Global is seeking information on how to create a plan that will allow it to reach its goals.In doing so,Acme Global is trying to answer which of the following major strategic questions?

A strong vision and a good mission statement are critical parts of the ______ planning process.

Walmart is well-known for following the ______ strategy.

Nike and Coca-Cola are well-known for following the ______ strategy.

Victor recommends that the organization focus on selling its products to people aged 65 and older.Victor is recommending the ______ strategy.

In most organizations,the mission is generally narrower and more ______ than the vision.