Question 1

Each business unit in an organization will develop a ________ strategy that focuses on how it will achieve corporate goals.
corporate
business
fundamental
functional
mission

Accepted Answer

The answer of Each business unit in an organization will...

Question 2

Which of the following would typically be considered an opportunity?
An improving economy
Quick-paying customers
High unemployment
Decreased demand from foreign countries
A large base of satisfied customers

Accepted Answer

The answer of Which of the following would typically be...

Question 3

Which of the following would usually be considered a strength in a SWOT analysis?
Good managerial talent
A dedicated work force
Employees with good technical expertise
Surplus cash
All of these

Accepted Answer

The answer of Which of the following would usually be...

Question 4

XYZ Cake Mix Company is merging with the ABC Petroleum Company. This is an example of
conglomerate diversification.
related diversification.
product development.
geographic expansion.
none of these.

Accepted Answer

The answer of XYZ Cake Mix Company is merging with...

Question 5

The analysis of a firm's strengths and weaknesses is known as
SBU analysis.
barrier analysis.
organizational analysis.
environmental analysis.
contingency analysis.

Accepted Answer

The answer of The analysis of a firm's strengths and...

Question 6

Which of the following would typically be considered a threat?
New products from competitors
A small share of the market
Less government regulation
New markets
Slow-paying customers

Accepted Answer

The answer of Which of the following would typically be...

Question 7

An organizational analysis involves looking for ________, while an environmental analysis involves looking for ___________:
threats; opportunities
opportunities; threats
strengths and weaknesses; threats and opportunities
threats and opportunities; strengths and weaknesses
strengths and weaknesses; competitors

Accepted Answer

The answer of An organizational analysis involves looking for ________,...

Question 8

Setting strategic goals is the first step in strategy formulation. What is the next step?
Analyzing the company and its environment
Segmenting the markets the company wants to penetrate
Preparing an organizational plan
Matching company strengths with environmental characteristics
Developing a mission statement

Accepted Answer

The answer of Setting strategic goals is the first step...

Question 9

Which of the following would be most likely classified as an opportunity for an organization?
Government regulations
Changing consumer tastes
Strong reputation with consumers
Recall of a competitor's product
Competition

Accepted Answer

The answer of Which of the following would be most...

Question 10

________ strategy focuses on how specific areas can achieve corporate goals.
Corporate
Mission
Functional
Fundamental
Business

Accepted Answer

The answer of ________ strategy focuses on how specific areas...

Question 11

Which of the following would usually be considered a corporate weakness?
An economic down-turn
Increased government regulation
A large base of satisfied customers
A strong competitor
A small bank account

Accepted Answer

The answer of Which of the following would usually be...

Question 12

________ are areas in which a firm can potentially expand, grow, or take advantage of existing strengths.
Strategies
Tactics
Opportunities
Threats
Internal factors

Accepted Answer

The answer of ________ are areas in which a firm...

Question 13

Which of the following outlines how an organization intends to meet its mission statement goals and includes the firm's responsiveness to new challenges and needs?
Goal setting
Controlling
Strategy
Tactics
Research and development

Accepted Answer

The answer of Which of the following outlines how an...

Question 14

Which of the following would usually be considered a weakness in a SWOT analysis?
A small bank account
A large base of satisfied customers
A strong competitor
Increased government regulation
An economy that was turning down

Accepted Answer

The answer of Which of the following would usually be...

Question 15

What does "retrenchment" mean in terms of business strategy?
A change in the mission for the organization
Ceasing to do business
Cutting back some operations
An increase in the market share for two or more products
Growth at a modest rate

Accepted Answer

The answer of What does "retrenchment" mean in terms of...

Question 16

Changing consumer tastes, hostile takeover offers, and new competitors would be classified as
strengths.
natural responses.
threats.
opportunities.
weaknesses.

Accepted Answer

The answer of Changing consumer tastes, hostile takeover offers, and...

Question 17

In a SWOT analysis, strengths and weaknesses are factors that are ________ to the firm, while opportunities and threats are factors that are _________ to the firm.
irrelevant; relevant
relevant; irrelevant
internal; external
external; internal
central; peripheral

Accepted Answer

The answer of In a SWOT analysis, strengths and weaknesses...

Question 18

When Bell Canada diversified by forming BCE, it acquired interests in businesses like trust companies, pipelines, and real estate. This is an example of
vertical integration.
cooperative diversification.
concentric diversification.
cost leadership.
conglomerate diversification.

Accepted Answer

The answer of When Bell Canada diversified by forming BCE,...

Question 19

Extensive marketing channels, a large base of satisfied customers, and a good reputation are all examples of a company's
strategies.
weaknesses.
strengths.
opportunities.
threats.

Accepted Answer

The answer of Extensive marketing channels, a large base of...

Question 20

________ strategy takes place at the level of the business unit or product line and focuses on a firm's competitive position.
Business
Fundamental
Corporate
Mission
Functional

Accepted Answer

The answer of ________ strategy takes place at the level...

Quiz 6: Managing the Business Enterprise

Each business unit in an organization will develop a ________ strategy that focuses on how it will achieve corporate goals. corporate business fundamental functional mission

Which of the following would typically be considered an opportunity? An improving economy Quick-paying customers High unemployment Decreased demand from foreign countries A large base of satisfied customers

Which of the following would usually be considered a strength in a SWOT analysis? Good managerial talent A dedicated work force Employees with good technical expertise Surplus cash All of these

XYZ Cake Mix Company is merging with the ABC Petroleum Company. This is an example of conglomerate diversification. related diversification. product development. geographic expansion. none of these.

The analysis of a firm's strengths and weaknesses is known as SBU analysis. barrier analysis. organizational analysis. environmental analysis. contingency analysis.

Which of the following would typically be considered a threat? New products from competitors A small share of the market Less government regulation New markets Slow-paying customers

An organizational analysis involves looking for , while an environmental analysis involves looking for ___: threats; opportunities opportunities; threats strengths and weaknesses; threats and opportunities threats and opportunities; strengths and weaknesses strengths and weaknesses; competitors

Which of the following would be most likely classified as an opportunity for an organization? Government regulations Changing consumer tastes Strong reputation with consumers Recall of a competitor's product Competition

________ strategy focuses on how specific areas can achieve corporate goals. Corporate Mission Functional Fundamental Business

Which of the following would usually be considered a corporate weakness? An economic down-turn Increased government regulation A large base of satisfied customers A strong competitor A small bank account

________ are areas in which a firm can potentially expand, grow, or take advantage of existing strengths. Strategies Tactics Opportunities Threats Internal factors

Which of the following outlines how an organization intends to meet its mission statement goals and includes the firm's responsiveness to new challenges and needs? Goal setting Controlling Strategy Tactics Research and development

Which of the following would usually be considered a weakness in a SWOT analysis? A small bank account A large base of satisfied customers A strong competitor Increased government regulation An economy that was turning down

What does "retrenchment" mean in terms of business strategy? A change in the mission for the organization Ceasing to do business Cutting back some operations An increase in the market share for two or more products Growth at a modest rate

Changing consumer tastes, hostile takeover offers, and new competitors would be classified as strengths. natural responses. threats. opportunities. weaknesses.

In a SWOT analysis, strengths and weaknesses are factors that are to the firm, while opportunities and threats are factors that are _ to the firm. irrelevant; relevant relevant; irrelevant internal; external external; internal central; peripheral

When Bell Canada diversified by forming BCE, it acquired interests in businesses like trust companies, pipelines, and real estate. This is an example of vertical integration. cooperative diversification. concentric diversification. cost leadership. conglomerate diversification.

Extensive marketing channels, a large base of satisfied customers, and a good reputation are all examples of a company's strategies. weaknesses. strengths. opportunities. threats.

________ strategy takes place at the level of the business unit or product line and focuses on a firm's competitive position. Business Fundamental Corporate Mission Functional

Quiz 6: Managing the Business Enterprise

Each business unit in an organization will develop a ________ strategy that focuses on how it will achieve corporate goals. corporate business fundamental functional mission

Which of the following would typically be considered an opportunity? An improving economy Quick-paying customers High unemployment Decreased demand from foreign countries A large base of satisfied customers

Which of the following would usually be considered a strength in a SWOT analysis? Good managerial talent A dedicated work force Employees with good technical expertise Surplus cash All of these

XYZ Cake Mix Company is merging with the ABC Petroleum Company. This is an example of conglomerate diversification. related diversification. product development. geographic expansion. none of these.

The analysis of a firm's strengths and weaknesses is known as SBU analysis. barrier analysis. organizational analysis. environmental analysis. contingency analysis.

Which of the following would typically be considered a threat? New products from competitors A small share of the market Less government regulation New markets Slow-paying customers

Which of the following would be most likely classified as an opportunity for an organization? Government regulations Changing consumer tastes Strong reputation with consumers Recall of a competitor's product Competition

________ strategy focuses on how specific areas can achieve corporate goals. Corporate Mission Functional Fundamental Business

Which of the following would usually be considered a corporate weakness? An economic down-turn Increased government regulation A large base of satisfied customers A strong competitor A small bank account

________ are areas in which a firm can potentially expand, grow, or take advantage of existing strengths. Strategies Tactics Opportunities Threats Internal factors

Which of the following outlines how an organization intends to meet its mission statement goals and includes the firm's responsiveness to new challenges and needs? Goal setting Controlling Strategy Tactics Research and development

Which of the following would usually be considered a weakness in a SWOT analysis? A small bank account A large base of satisfied customers A strong competitor Increased government regulation An economy that was turning down

What does "retrenchment" mean in terms of business strategy? A change in the mission for the organization Ceasing to do business Cutting back some operations An increase in the market share for two or more products Growth at a modest rate

Changing consumer tastes, hostile takeover offers, and new competitors would be classified as strengths. natural responses. threats. opportunities. weaknesses.

In a SWOT analysis, strengths and weaknesses are factors that are ________ to the firm, while opportunities and threats are factors that are _________ to the firm. irrelevant; relevant relevant; irrelevant internal; external external; internal central; peripheral

When Bell Canada diversified by forming BCE, it acquired interests in businesses like trust companies, pipelines, and real estate. This is an example of vertical integration. cooperative diversification. concentric diversification. cost leadership. conglomerate diversification.

Extensive marketing channels, a large base of satisfied customers, and a good reputation are all examples of a company's strategies. weaknesses. strengths. opportunities. threats.

________ strategy takes place at the level of the business unit or product line and focuses on a firm's competitive position. Business Fundamental Corporate Mission Functional

In a SWOT analysis, strengths and weaknesses are factors that are to the firm, while opportunities and threats are factors that are _ to the firm. irrelevant; relevant relevant; irrelevant internal; external external; internal central; peripheral