战略管理练习.docx
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战略管理练习
Chapter1exerciseandtest
一、TRUE/FALSE:
effectofglobalizationonBoeingisonlynegativeandisduesolelytodirectcompetitionwithEuropean-basedcompetitorAirbus.()
waytoevaluateifAirbushadachievedaboveaveragereturnswouldbetocomparestockmarketreturnsagainstthoseofBoeing.()
competitivenessisachievedwhenafirmsuccessfullyformulatesandimplementsavalue-creatingstrategy.()
Enterpriseshasearnedabove-averagereturnssinceitsfoundingfiveyearsago.SincenootherfirmhaschallengedAlligatorinitsparticularmarketniche,thefirm!
ˉsownerscanfeelsecurethatAlligatorhasestablishedacompetitiveadvantage.()
5.Thegoalofstrategicmanagementistodevelopacompetitiveadvantagethatispermanently
sustainable.
6.Riskintermsoffinancialreturnsreflectsaninvestor’suncertaintyabouteconomicgainsthatwillresultfromaparticularinvestment.
7.Averagereturnsarereturnsinexcessofwhataninvestorexpectstoearnfromotherinvestmentswithasimilaramountofrisk.
8.Returnscanonlybemeasuredinaccountingterms.
9.Ifafirmcanearnatleastaveragereturnsitwillbeabletosurvive.
10.Economiesofscaleandhugeadvertisingbudgetsarejustaseffectiveinthenewcompetitivelandscapeastheywereinthepast,buttheymustbereinforcedbystrategicflexibility.
11.Wal-Martistryingtoachieveaboundarylessretailingempirebyimplementingglobalpricing,
sourcing,andlogistics.
12.Itisstillpossibleforafirmtoescapethedemandsofglobalizationbyoperatingsolelyinitsdomesticmarket.
13.Therateoftechnologydiffusionhasbeensteadilyincreasingoverthelasttwodecades.
14.createdacompetitiveadvantageandanentirelynewindustrybymakinguseof
disruptivetechnology.
15.ExamplesofincrementalinnovationsincludeiPods,PDAs,WiFi,andwebbrowsersoftware.
16.Thevalueofpatentsoninventionsisincreasingbecauseofthecompetitiveedgeorganizationsgainbyconstantinnovationandcreationofnewproducts.
17.Developedcountriesstillhavemajoradvantagesininformationtechnologyoverdevelopingcountriesbecauseofthesignificantcostoftheinfrastructureneededforcomputingpower.
18.Tangibleassets,suchaslandandcapitalequipment,arelosingtheirvalueassourcesofcompetitiveadvantageincomparisontointangibleassets.
19.ThenewCEOofOpacityEnterprisesisdeterminedtomakethelong-establishedfirmstrategically
20.Onecapabilitycharacteristicofafirmwithstrategicflexibilityiseffectivemanagementinformationsystems.
21.TheI/O(industrialorganization)modelassumesthatafirm’suniqueresourcesandcapabilitiesareitsmainsourceofabove-averagereturns.
22.TheCEOofTwinSpires,Inc.,isemotionallyandintellectuallycommittedtousingtheresourcesofthefirmtoservetheneedsofthenaturalgardeningcommunitybyprovidingrareandnativeplantstoindividualsandnurseriesaroundtheUnitedStates.ThiscommitmenthascarriedtheCEOthroughlongperiodsofbelowaveragereturnsoninvestment.TheperspectiveoftheCEOofTwinSpiresisconsistentwiththeassumptionsoftheindustrialorganizational(I/O)model.
23.Becauseofitsgrowth,Netflixoperatesinaturbulentcompetitiveenvironment,whereasBlockbusterdoesnot.
24.Fiveforcesmodelsuggeststhatfirmsshouldtargettheindustrywiththehighestpotentialforaboveaveragereturnsandthenimplementeitheracost-leadershipstrategyoradifferentiationstrategy.
25.Theuniquenessofafirm’sresourcesandcapabilitiesisthebasisforafirm’sstrategyanddeterminesitsabilitytoearnabove-averagereturnsundertheI/Oview.
26.Corecompetenciescanbeformedonlyaroundproductionorservice-provisionactivitiesofthefirmratherthaninsupportactivitiessuchasaccountingandmarketing.
27.Theresource-basedmodelassumesthatiffirmshaveresourcesthatarerareorcostlytoimitate,thisissufficienttoformabasisforcompetitiveadvantage.
28.Resourcesareconsideredrarewhentheyhavenostructuralequivalent.
29.Theassumptionsoftheindustrialorganizationalmodelandtheresource-basedmodelare
contradictory.Therefore,organizationalstrategistsmustchooseoneortheothermodelasthebasisfordevelopingastrategicplan.
30.Aneffectivevisionstatementwillspecifythemarkettobeserved.
31.Organizationalmissionstatementstypicallydonotincludestatementsaboutprofitabilityandearningabove-averagereturns.
32.Organizationalvisionandmissionserveasemotionaltoolsforthefirm,and,assuch,havelittleimpactonfirmperformance.
33.Organizationalstakeholdersarethefirm’sinternalresources,capabilities,andcorecompetenciesthatareusedtoaccomplishwhatmayatfirstappeartobeunattainablegoalsinthecompetitiveenvironment.
34.Shareholdersaresatisfiedwhenreturnoninvestmenthasbeenmaximized.
35.Theneedsanddesiresoforganizationalstakeholdersareinherentlycontradictory.
36.Relativepoweristhemostcriticalcriteriaforprioritizingthedemandsofstakeholders.
37.Hourlyworkersontheproductionlineofachicken-processingplantareconsideredorganizationalstakeholders.
38.Customers,suppliers,unions,andlocalgovernmentsareexamplesofcapitalmarketstakeholders.
39.Whenthefirmearnslower-than-averagereturns,thehighestpriorityisgiventosatisfyingtheneedsofcapitalmarketstakeholdersovertheneedsofproductmarketandorganizationalshareholders.
40.Sixyearsago,ColetteSmithfoundedasuccessfulcateringcompanythatspecializesinprovidingawideassortmentofminiaturecheesecakesforcorporateandsocialevents.AlthoughMs.Smithisnolongeractiveintheactualproductionofthecheesecakes,shecontinuesaspresidentofthecateringcompany.Ms.Smithcouldbeconsideredastrategicleaderofthisfirm.
41.Organizationalculturereferstothecorevaluessharedbythefirm’stop-levelmanagersbutnot
necessarilyacceptedbylower-levelemployeeswhoareoftentransitoryandnotcommittedtothe
organization.
42.Althoughorganizationalculturesvaryconsiderably,onecannotmakeanobjectivejudgmentthatsomeorganizationalculturesaremoreorlessfunctionalthanothers.
43.Anintelligent,analyticalindividualwhorequireslargeamountsofconcreteandprecisedataandapredictableenvironmentinordertomakeadecisionisprobablypoorlysuitedtobeingastrategicleader.
44.Implementationofanorganizationalstrategyisaddressedoncethestrategyhasbeenfinalized.
45.Corporate-levelstrategyinadiversifiedorganizationrequiresacommonbusinessstrategyforeachcomponentbusiness.
46.Anorganization’swillingnesstotolerateorencourageunethicalbehaviorisareflectionofitscorevalues.
二、MULTIPLECHOICE
1.Afirmhasachieved____whenitsuccessfullyformulatesandimplementsavalue-creatingstrategy.
a.strategiccompetitiveness
b.apermanentlysustainablecompetitiveadvantage
c.substantialreturns
d.legalandethicalcorevalues
2.Acompetitiveadvantage
a.canbepermanentifthefirmhassuccessfullyimplementedthestrategicmanagement
process.
b.entailsreducinginvestors’risktonearzero.
c.canbeidentifiedonlyifithasbeenunsuccessfullychallengedbycompetitors.
d.existswhencompetingfirmsareunabletofindinvestors.
3.Above-averagereturnsare
a.higherprofitsthanthefirmearnedlastyear.
b.higherprofitsthantheindustryaveragedoverthelast10years.
c.profitsinexcessofwhataninvestorexpectstoearnfromahistoricalpatternof
performanceofthefirm.
d.profitsinexcessofwhataninvestorexpectstoearnfromotherinvestmentswithasimilar
levelofrisk.
4.Investorsinanestablishedfirmjudgetheadequacyofthereturnsontheirinvestmentinrelationto:
a.thereturnsonotherinvestmentsofsimilarrisk.
b.thestockmarket’soverallperformance.
c.theindustry’sprofitpool.
d.theprimeinterestrate.
5.Thestrategicmanagementprocessis
a.asetofactivitiesthatwillassureasustainablecompetitiveadvantageandabove-average
returnsforthefirm.
b.adecision-makingactivityconcernedwithafirm’sinternalresources,capabilities,and
competencies,independentoftheconditionsinitsexternalenvironment.
c.aprocessdirectedbytop-managementwithinputfromotherstakeholdersthatseeksto
achieveabove-averagereturnsforinvestorsthrougheffectiveuseoftheorganization’s
resources.
d.thefullsetofcommitments,decisions,andactionsrequiredforthefirmtoachieveaboveaveragereturnsandstrategiccompetitiveness.
6.Applehasreemergedasasignificantplayerinthecomputerindustry.Thisregenerationhasbeen
attributedmainlytowhatcapability?
a.Costcontrol
b.Economiesofscale
c.Innovation
d.Monopolypower
7.Theprimarydriversofhypercompetitionare
a.risingglobalsocio-economicinstabilityandincreasedinflation.
b.theemergenceofaglobaleconomyandrapidtechnologicalchange.
c.increasedglobalcompetitionanddecreasingtariffs.
d.increasedavailabilityofcapitalandincreasedcompetition.
8.ConsideringbothGDPandthenumberofpotentialconsumers,whatistheworld’slargestsinglemarket?
a.Europe
b.TheUnitedStates
c.China
d.Japan
9.Theeconomicinterdependenceamongcountriesasreflectedinthefreemovementofgoods,services,financialcapitalandknowledgeacrossgeographicbordersisdefinedas
a.hypercompetition.
b.boundarylessretailing.
c.strategicintensity.
d.globalization.
10.AllofthefollowingarecharacteristicoftheglobaleconomyEXCEPT
a.theincreasingimportanceofdevelopingcountriesassourcesofrevenuegrowth.
b.thefreemovementofgoods,services,people,skills,a