Test bank for business strategy development application 2nd edition by bissonette

0 questions at random and keep in order  Multiple Choice Questions - 74 Learning Objective: 01-05 Exposure to the concept of Visionary Leadership - 5 True/False Questions - 56 Learnin

Trang 1

This chapter has 142 questions.

Scroll down to see and select individual questions or

narrow the list using the checkboxes below. 0 questions at random and keep in order 

Multiple Choice Questions - (74) Learning Objective: 01-05 Exposure to the concept of Visionary Leadership - (5)

True/False Questions - (56)

Learning Objective: 01-06 Via a Management Reflection, a cursory overview of the relationship between business strategy and business model development, and the importance of successfully executing both in order for a business to achieve its identified objectives - (12)

Short Answer Questions - (12) profitability - (13) Learning Objective: 01-07 Via an appendix, an introduction to the difference between profit and

Accessibility: Keyboard Navigation - (130) Topic: 01-03 The Full Business Model - (11)

Difficulty: Difficult - (6) Topic: 01-04 The Role of the Business Owner or C-Suite Manager - (16)

Difficulty: Easy - (107) Topic: 01-05 Putting Plans Into Action - (14)

Difficulty: Moderate - (29) Topic: 01-06 Thinking Across Multiple Horizons - (4)

Gradable: automatic - (130) Topic: 01-07 Corporate Social Responsibility - (10)

Gradable: manual - (12) Topic: 01-08 The Concept of Visionary Leadership - (7)

Learning Objective: 01-01 A macro-level understanding of what business

Learning Objective: 01-02 An overview of the major components of a

business model and how their successful development and execution determines

business performance - (54)

Topic: 01-10 Appendix - The Business Model and Profitability - (2)

Learning Objective: 01-03 An awareness of the overarching role of the

business owner or C-Suite management team - (45) Topic: 01-11 The Difference between Profit and Profitability - (8)

Learning Objective: 01-04 An understanding of how businesses plan - (42) Topic: 01-12 Improving Profitability - (2)

1 Commercial endeavours refers to the markets the organization serves, the products it offers, and the needs it professes to meet in the marketplace

2 Employee interaction is a reflection of the complexities of the business activities that circulate within an organization

3 Organizational efficiency and structure refers to the value-creating skills an organization's employees bring to the

4 Employee interaction refers to the value-creating skills an organization's employees bring to the marketplace

5 Business can be thought of as a system designed to grow a market for an organization's goods and services and create organizational value on behalf of stakeholders

6 Any organization that produces a good or service can be classified as a business

successful development and execution determines business performance

Topic: 01-02 What Is Business?

Trang 2

7 The goal of business activities is profit.

8 Profit is what it costs to make and sell a product

9 Businesses have the right to keep and use their profits as they choose, without limitations

10 Businesses seek to earn a profit by providing goods and services to others

11 Revenue is the amount a business earns above and beyond what it spends for expenses and costs

12 A manager is an individual who assumes the risk of starting a business

13 If a business' costs and expenses are greater than its revenue, it will suffer a loss

14 The business model can best be visualized as the underlying operational platform

Trang 3

Topic: 01-02 What Is Business?Topic: 01-03 The Full Business Model

15 Technology can help businesses become more efficient and productive

16 Successful firms follow a customer-driven strategy, as opposed to the management-driven strategy used in the past

17 The competitive environment now empowers managers to make decisions quickly for their front line employees

18 Managers coordinate resources to achieve organizational objectives

19 Businesses seek to earn a profit by providing goods and services to others

20 If a business' costs and expenses are less than than its revenue, it will earn a profit

Topic: 01-02 What Is Business?21

Trang 4

On the company-centric (business system) side of the business model, the key activities cell refers to the infrastructure and resource base of the organization.

Topic: 01-02 What Is Business?Topic: 01-03 The Full Business Model

22 The Buckmaker Corporation generated total revenues of $30 million dollars while incurring expenses of $17 million During the year Buckmaker earned a profit of $13 million

23 Successful businesses constantly monitor consumer wants and needs

24 Not-for-profit organizations such as the Canadian Cancer Society do not engage in management, marketing, or finance activities

management teamLearning Objective: 01-04 An understanding of how businesses plan

Topic: 01-05 Putting Plans Into Action

25 To remain competitive in today's market, firms must produce a quality product and offer outstanding service at a

management teamLearning Objective: 01-04 An understanding of how businesses planTopic: 01-04 The Role of the Business Owner or C-Suite Manager

26 Producing a high quality product will ensure success in the competitive environment

27 A key element of business success is a business plan

Trang 5

Learning Objective: 01-03 An awareness of the overarching role of the business owner or C-Suite

Topic: 01-11 The Difference between Profit and Profitability

28 Management is the art of getting things done through organizational resources

29 A modern manager's main job is to issue orders, then follow up to make sure employees do as they were told

30 Managers in progressive organizations tend to emphasize teamwork and cooperation rather than discipline and giving orders

31 Managers in many of today's high-tech firms realize that workers often know much more about technology than they do

32 Despite all of the changes in the business environment, the basic way a manager performs his or her job has remained remarkably constant

33 Given the lack of discipline and short attention spans of today's workers, modern managers must watch their workers

closely, set strict rules, and vigorously enforce them

34 In most high tech industries, the best way to respond quickly to rapid technological changes is to keep most authority and responsibility in the hands of a few key managers who provide precise, detailed directions to the workers

True

Trang 6

True / False Question

question #34

Accessibility: Keyboard Navigation

Difficulty: EasyGradable: automaticLearning Objective: 01-03 An awareness of the overarching role of the business owner or C-Suite

35 The need for better-educated and self-directed workers has made it easier for managers to obtain the trust and loyalty of their workers

36 Every business is faced with the reality of having less uses for resources than resources available

Topic: 01-03 The Full Business Model

37 Because of advancements in technology, managers now have an easier time obtaining long-term commitments from

38 An organization is said to have competitive advantage when it can perform critical activities better than its rivals

39 Not-for-profit organizations are concerned with wealth creation on behalf of their shareholders and stakeholders

40 For-profit organizations serve their customers and clients via a model of collective interest and social goal achievement

41 Questions like "What do we want to do?" are associated with the implementation stage of the planning cycle

True

Trang 7

question #41

42 Questions like "What needs to be changed or improved?" are associated with the positioning stage of the planning cycle

43 Stakeholders are best understood as the shareholders of a business or the people who have made an equity investment

Topic: 01-07 Corporate Social Responsibility

44 Stakeholders have a direct or an indirect link to an organization and can be impacted by its policies, actions, and decisions

45 Social and environmental responsibility is not as important as it used to be

46 Short-term performance is one of two fundamental objectives that managers must consider when making decisions about the strategic direction of the organization

Topic: 01-06 Thinking Across Multiple Horizons

47 Green initiatives are challenging organizations to position themselves as good corporate citizens in order to acquire and retain customers

48 Strategies are actions that a firm executes to meet short-term objectives

True

Trang 8

order for a business to achieve its identified objectivesTopic: 01-09 Management Reflection - The Business Decision-Making Landscape

49 Assessing company resources and capabilities is an element of the business decision-making model

order for a business to achieve its identified objectivesTopic: 01-08 The Concept of Visionary Leadership

50 As managers, we need to avoid the temptation to become predominantly focused on short-term results

order for a business to achieve its identified objectivesTopic: 01-09 Management Reflection - The Business Decision-Making Landscape

51 The amount of profit or loss earned by a business can be found by subtracting the firm's expenses from its revenues

profitabilityTopic: 01-11 The Difference between Profit and Profitability

52 Profits of a business include the salaries paid to the owners and employees of that business

53 Total revenue - total expenses = profit

54 Profitability is the "bottom line" result the organization has been able to achieve

55 Profitability measures how well an organization is using its resources over a specific period of time

False

Gradable: automatic

Trang 9

Learning Objective: 01-07 Via an appendix, an introduction to the difference between profit and

56 The challenge to improve profitability faces both large companies and small companies

profitabilityTopic: 01-12 Improving Profitability

57 One way of thinking about the talent component of an organization is to use the axiom that a successful strategy results from % thinking and % execution:

58 The goal of business is to earn

59 A business' objectives should NOT be:

specificmeasurableactionablecontrollable

60 Which of the following is NOT presented as a key ability of visionary leaders:

articulate and communicate the visioncreate exceptional commitment to vision within the workforce

understand the critical investments necessary for successdemonstrate leadership commitment

Multiple Choice Question

question #60

Difficulty: EasyGradable: automaticLearning Objective: 01-05 Exposure to the concept of Visionary Leadership

61 If a business is to be successful in the long run, it must treat its customers, employees, and community with social

meetings

agendas

insight

Trang 10

62 Not-for-profit organizations,

Last for only short periods of time as their objective is not to create profits for their owners

Have a hard time hiring employees as they have no means of paying them

Are not concerned about meeting their financial needs

Are the same as government organizations

question #62

Difficulty: ModerateGradable: automaticLearning Objective: 01-03 An awareness of the overarching role of the business owner or C-Suite

63 All of the following are recognized as abilities of visionary leaders except:

demonstrate leadership commitment

articulate and communicate visioncreate commitment to visionEnable execution of essential processes

question #63

Difficulty: EasyGradable: automaticLearning Objective: 01-05 Exposure to the concept of Visionary Leadership

64 What is the first step in the business decision-making model:

adjust, build out or reinvent the business modelassess company resources and capabilitiesdetermine tactics required to achieve objectivesconfirm market size and profitability potential

question #64

Difficulty: EasyGradable: automaticLearning Objective: 01-06 Via a Management Reflection, a cursory overview of the relationship between business strategy and business model development, and the importance of successfully

executing both in order for a business to achieve its identified objectives

Topic: 01-08 The Concept of Visionary Leadership

65 refers to the human resource requirements of the business

CapitalAssetsEfficiencyAcumen

question #65

Difficulty: EasyGradable: automaticLearning Objective: 01-01 A macro-level understanding of what business isLearning Objective: 01-02 An overview of the major components of a business model and how their

66 When consumers decide to purchase a particular product, they:

will search for the retailer that offers the lowest price

base their decision on a brand name nearly all of the time

initially evaluate the product's package

Gradable: automaticLearning Objective: 01-01 A macro-level understanding of what business is

Trang 11

Learning Objective: 01-02 An overview of the major components of a business model and how their

67 Any activity which seeks to earn a profit by providing a good or service is known as a(n):

industrycorporation

serviceinitiative

question #67

68 can most easily be thought of as a set of mission-focused actions aimed at identifying the needs of a particular market, or markets, and the development of a solution to such needs through the acquisition or transformation of goods and services that can be delivered to the marketplace at a profit:

goods-producing activitiesservice activities

governmentNot-for-profit activities

question #68

69 refers to the ability of managers to establish a direction for the organization based on the needs

identified in the marketplace and the mission (reason for being) of the organization

Human capitalAssets

Topic: 01-08 The Concept of Visionary Leadership

70 A precise statement of the rationale for a business and a step-by-step explanation of how it will achieve its goals is a

71 In evaluating colleges, students, and parents are likely to judge a school:

strictly on the basis of major curriculums offered

based on the tuition

on the anticipated rate of return on their tuition investment

strictly on the basis of extracurricular activities offered

question #71

Test Bank for Business Strategy Development Application 2nd Edition by Bissonette Full file at https://TestbankDirect.eu/

Trang 12

Topic: 01-03 The Full Business Model

72 _ refers to the money needed by an organization

AssetsLabour

Managerial acumenStructure

question #72

73 Which of the following is NOT one of the four core fundamental resource areas an organization will build its business model or system around?

AssetsLabourCapitalManagerial acumen

74 To start any business you must first have

Topic: 01-06 Thinking Across Multiple Horizons

75 Which of the following is NOT a suitable definition of strategy?

Is the development of plans and decisions which will guide the direction of the firm and determine its term performance

long-Focuses on the vision of the firm and the opportunity which it believes exists in the marketplace

Checks that the life expectancy of the product or service is long enough to ensure that the initial investment can be recovered and that the firm can make a profit

Is the means by which the organization selects future direction and areas for focus

question #75

Difficulty: EasyGradable: automaticLearning Objective: 01-06 Via a Management Reflection, a cursory overview of the relationship between business strategy and business model development, and the importance of successfully

executing both in order for a business to achieve its identified objectivesTopic: 01-09 Management Reflection - The Business Decision-Making Landscape

76 Culture, processes, and infrastructure are related to which of the three characteristics one can use to assess a business?

Employee interactionOrganizational capacityCommercial endeavoursMarkets the organization serves

question #76

Difficulty: EasyGradable: automaticTopic: 01-01 The Big Picture

77 _ occurs when a company possesses capabilities that enable it to perform critical activities better than its rivals:

Trang 13

positioningmanagerial acumen

profitprofitability

question #77

management teamTopic: 01-03 The Full Business Model

78 The role of the top-level management team is to anticipate, recognize, and _ opportunities that then drive the creation

of products and/or delivery of services believe to offer solutions to problems in a unique, important, and valued

(meaningful) way

examineanalyzeconsider

79 Sweet Dream Confectioners uses the same ingredients as most other producers of chocolate candies In fact, taste tests suggest that the candy itself, while quite good, isn't much better than other well-known brands of chocolate However, the company wraps its candies in expensive looking foil and places them in very attractive boxes It promotes its products in advertisements as "the ultimate in chocolate experience." Sweet Dream charges a much higher price than most

competitors, but sales continue to grow This success indicates that:

consumers often behave in an irrational manner

consumers seldom consider price when making a buying decision for goods such as chocolate

chocolate is best classified as a convenience good

the market is inefficient

question #79

80 When purchasing a product, the consumer is actually buying its anticipated benefits and

81 Which of the following does NOT make up a business?

A system of integrated actionsdevelops and grows a market for its goods and/or servicescreates organizational value (wealth) on behalf of its stakeholders

delivers the right solution to the right customer

question #81

Difficulty: ModerateGradable: automaticTopic: 01-01 The Big Picture

82 A company does not have competitive advantage when:

Định dạng
Số trang	26
Dung lượng	498,62 KB