Strategic management of technology and innovation MCQ Set 4

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Q121: Attracting and retaining human capital is a challenge for many firms today. Firms experiencing high turnover should
A. make their work environment less stimulating.
B. decrease money spent on human capital.
C. adopt effective retention strategies.
D. increase recruiting.

Answer

C. adopt effective retention strategies.

Q122: Which of these refers to short-term, narrow scoped plans that detail “means” or activities that a company will use to achieve short-term projects?
A. Policies
B. Formality
C. Vision
D. Functional tactics

Answer

D. Functional tactics

Q123: Four different kinds of information partnerships have emerged. The partnering firms gain access to new customers and territories and to economies of scale through cost sharing in which dimensions?
a. IT vendor-driven partnerships
b. Customer/supplier partnerships
c. Interindustry partnerships
d. Joint marketing partnerships

Answer

d. Joint marketing partnerships

Q124: The I/O model and the resource-based view of the firm suggest conditions that firms should study in order to:
a. compete in domestic but not international markets.
b. examine strategic outputs achieved mainly in the last 5-year period.
c. engage in different sets of competitive dynamics.
d. develop the most effective strategy.

Answer

d. develop the most effective strategy.

Q125: The use of information technology (e.g., email) in many organizations has increased in recent years. This has helped to
A. restrict social network growth.
B. make more effective use of time in every situation.
C. increase social capital.
D. create smaller social networks.

Answer

C. increase social capital.

Q126: As seen in Porter’s Five Forces model, conditions under which a supplier group can be powerful include all the following except
A. lack of importance of the buyer to the supplier group.
B. high differentiation by the supplier.
C. readily available substitute products.
D. dominance by a few suppliers.

Answer

C. readily available substitute products.

Q127: “Effectiveness” is often defined as
A. doing things right.
B. stakeholder satisfaction.
C. doing the right thing.
D. productivity enhancement.

Answer

C. doing the right thing.

Q128: The origins of Business Policy & Strategic Management can be retraced to
a. 1930
b. 1911
c. 1879
d. 1938

Answer

b. 1911

Q129: Corporate-level decisions are characterized by:
A. Decreased risk
B. Doing things right
C. Short-time horizons
D. Greater profit

Answer

D. Greater profit

Q130: The strategy management process is:
A. Stationary
B. Dynamic
C. Static
D. Radical

Answer

B. Dynamic

Q131: Another name for GE 9 cell model is
a. Three colour matrix
b. Stop light matrix
c. Strategic Portfolio Matrix
d. Colour light matrix

Answer

b. Stop light matrix

Q132: Which of the following is a generic strategy option?
A. Narrow margins
B. Diversification
C. Differentiation
D. Retrenchment

Answer

B. Diversification

Q133: Which of the following is a concept of management of technology within an open systems view?
a. value creation and competitive advantage
b. interfacing of technology and market factors
c. generic applicability
d. speed of problem solving

Answer

a. value creation and competitive advantage

Q134: The three participants in corporate governance are
A. the shareholders, board of directors, and employees.B. the shareholders, labor unions, and employees.C. the shareholders, board of directors, and management.D. the shareholders, banks and lending institutions, and management.
B. the shareholders, labor unions, and employees.C. the shareholders, board of directors, and management.D. the shareholders, banks and lending institutions, and management.
C. the shareholders, board of directors, and management.D. the shareholders, banks and lending institutions, and management.
D. the shareholders, banks and lending institutions, and management.

Answer

C. the shareholders, board of directors, and management.D. the shareholders, banks and lending institutions, and management.

Q135: Which of the following is an example of a grand strategy?
A. Decentralization
B. Policy making
C. Conglomerate integration
D. Innovation

Answer

D. Innovation

Q136: The external environment consists of:
A. The operating environment
B. Managers
C. Employees
D. Owners

Answer

A. The operating environment

Q137. Competency refers to the quality of being adequately or well qualified physically and intellectually.
a) Ability
b) Skill
c) Aptitude
d) Competence

Answer

d) Competence

Q138. Opportunity can be defined as a set of circumstances that makes it possible to do:
a) Nothing
b) Anything
c) Everything
d) Something

Answer

d) Something

Q139. What is Strategy?
a) A detailed action plan
b) A simple task
c) A high-level plan in uncertain conditions
d) A short-term goal

Answer

c) A high-level plan in uncertain conditions

Q140. A Tactic is best described as:
a) A strategic plan
b) A broad goal
c) A conceptual action with specific tasks
d) A long-term perspective

Answer

c) A conceptual action with specific tasks

Q141. Change refers to:
a) Staying the same
b) Evolving into something more complex
c) Remaining stagnant
d) Being uncertain

Answer

b) Evolving into something more complex

Q142. Something that relates to imagination or original ideas is considered Creative.
a) Repetitive
b) Conventional
c) Ordinary
d) Original

Answer

d) Original

Q143. Strategic Thinking is a mental process applied to achieve success in:
a) Routine tasks
b) Everyday activities
c) Uncertain endeavors
d) Leisure activities

Answer

c) Uncertain endeavors

Q144. Environmental Scanning involves collecting information about an organization’s:
a) Internal environment only
b) External environment only
c) Both internal and external environments
d) Past performance

Answer

c) Both internal and external environments

Q145. Forecasting involves making statements about events that:
a) Have already occurred
b) Are certain to happen
c) Are based on historical data
d) Haven’t been observed yet

Answer

d) Haven’t been observed yet

Q146. A Strategic Plan communicates an organization’s goals, actions, and critical elements developed during:
a) Routine operations
b) Team meetings
c) The planning exercise
d) Decision-making

Answer

c) The planning exercise

Q147. Mission refers to the founders’ intentions at the outset of the organization – what they wanted to:
a) Accumulate
b) Protect
c) Achieve
d) Ignore

Answer

c) Achieve

Q148. Values manifest in what the organization does as a group and how it operates. They guide:
a) Individual decisions
b) Financial investments
c) Legal proceedings
d) Prioritization and collaboration

Answer

d) Prioritization and collaboration

Q149. A Vision is a long-term perspective of the final destination of the organization. It conjures up a similar picture for each member of the organization regarding the:
a) Challenges ahead
b) Present situation
c) Path and destination
d) Initial stages

Answer

c) Path and destination

Q150. Customer Satisfaction measures how products and services supplied by a company meet or surpass:
a) Industry standards
b) Employee expectations
c) Customer expectations
d) Government regulations

Answer

c) Customer expectations

Q151. An Objective is a specific result that a person or system aims to achieve within a:
a) Fixed budget
b) Defined timeline and available resources
c) Controlled environment
d) Rapid time frame

Answer

b) Defined timeline and available resources

Q152. A Strategic Objective is a broadly defined objective that an organization must achieve to make its strategy:
a) More complex
b) Simplified
c) Succeed
d) Adapt

Answer

c) Succeed

Q153. Environmental Scanning involves collecting, scrutinizing, and providing information for:
a) Historical analysis
b) Competitive analysis
c) Strategic purposes
d) Legal compliance

Answer

c) Strategic purposes

Q154. A Goal is a desired future state or objective that an organization strives to:
a) Ignore
b) Delay
c) Achieve
d) Undermine

Answer

c) Achieve

Q155. Strategic Intent is a compelling statement about where an organization is going that conveys a sense of what the organization wants to achieve:
a) Immediately
b) Short-term
c) Long-term
d) Without planning

Answer

c) Long-term

Q156. Globalization is the process by which the world is becoming increasingly interconnected as a result of massively increased:
a) Conflict
b) Isolation
c) Trade and cultural exchange
d) Language barriers

Answer

c) Trade and cultural exchange

Q157. An Entrepreneur is a person who undertakes new financial ventures despite the:
a) Certainties
b) Opportunities
c) Risks
d) Rewards

Answer

c) Risks

Q158. The concept of the Innovation System emphasizes that the flow of technology and information among people, enterprises, and institutions is crucial for:
a) Maintaining the status quo
b) Isolating industries
c) Stifling innovation
d) An innovative process

Answer

d) An innovative process

Q159. System Dynamics is an approach used to understand the behavior of complex systems over:
a) Space
b) Time
c) Static states
d) Isolated instances

Answer

b) Time

Q160. Technological Change (TC) encompasses the overall process of:
a) Repetition
b) Predictability
c) Invention, innovation, and diffusion
d) Stagnation

Answer

c) Invention, innovation, and diffusion