Chapter 14 Multiple Choice Questions

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. What is the term for the action in which managers at an organisation analyse the current situation of their organisation and then develop plans to accomplish its mission and achieve its goals?

Synergy planning correct incorrect

Strategy formulation correct incorrect

Functional planning correct incorrect

SWOT analysis correct incorrect

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. In the 'five forces model', what is the type of competitive activity that exists between organisations?

The potential for entry into the industry correct incorrect

The threat of substitute products correct incorrect

The power of customers correct incorrect

The level of rivalry correct incorrect

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. Profitability stemming from how well a firm positions itself in the market is a key feature of which writer's view on strategy?

Peter Drucker correct incorrect

Jay Barney correct incorrect

Michael Porter correct incorrect

Henry Mintzberg correct incorrect

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. What does PEST stand for?

Political, environmental, strategic, testing correct incorrect

Political, environmental, strategic, technological correct incorrect

Political, economic, strategic, technological correct incorrect

Political, economic, social, technological correct incorrect

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. Which one is not an element in the primary activities of a value chain?

Procurement correct incorrect

Inbound logistics correct incorrect

Outbound logistics correct incorrect

Service correct incorrect

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. What is the term used in Ansoff's matrix for increasing market share with existing products in existing markets?

Product development correct incorrect

Market penetration correct incorrect

Diversification correct incorrect

Market development correct incorrect

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. Vertical integration forwards is when a firm mergers or acquires another…

Towards the source of supply correct incorrect

Towards the consumer correct incorrect

At the same stage of the supply chain correct incorrect

In another industry correct incorrect

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. When does an acquisition take place?

Two equal partners decide to work together. correct incorrect

Two equal partners share resources. correct incorrect

Two unequal partners join together. correct incorrect

Two unequal partners become one after a buyout. correct incorrect

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. Of what is advertising a form?

Focusing strategy correct incorrect

Differentiation correct incorrect

Cost leadership correct incorrect

Growth correct incorrect

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. What is the term for the extent to which competition in one country is influenced by competition in other countries?

International trade correct incorrect

Global economics correct incorrect

Global competition correct incorrect

Globalisation correct incorrect