- Description
MGT 498 Wk 1 – Practice: Ch. 1, What is Strategy
Sustainable competitive advantage exists when a firm Blank______.
Multiple choice question.
is self-regulated and self-motivated
starts up and competes for existing market share in the industry
maintains superior performance relative to its industry over a long period of time
formulates and implements strategy
Which of the following elements comprise strategic management?
Multiple select question.
analysis
formulation
definition
realization
implementation
What is strategy?
Multiple choice question.
the set of actions a firm takes to achieve a competitive advantage
a decision based on external situational analysis
a decision based on internal situational analysis
a sustainable and dominant market share
Effective guiding policy is supported by and stays consistent through the use of Blank______.
Multiple choice question.
social responsibilities
grandiose statements
trade-offs
strategic commitments
A competitive advantage that lasts for a long period of time is said to be Blank______.
Multiple choice question.
topical
geographic
sustainable
theoretical
accurate
MGT 498 Wk 1 – Practice: Ch. 3, External Analysis
Which of the following statements about Airbnb is correct?
Multiple choice question.
It operates only in North America and Europe.
It was spun off as a service developed by Google, Inc.
It handles more accommodations than the three biggest hotel chains combined.
It was founded before the Internet was created.
In the PESTEL model, political factors are those that relate to Blank______.
Multiple choice question.
climate and weather
government bodies
employment
banking organizations
The economic factors that affect a firm’s external environment are Blank______.
Multiple choice question.
largely macroeconomic
usually regional
primarily ecological
often unidentifiable
Sociocultural factors are constantly in flux and also differ across groups.
True false question.
True
False
Which of the following is an example of a recent innovation in process technology?
Multiple choice question.
lean manufacturing
the microwave
the BP oil spill
the smartphone
MGT 498 Wk 1 – Practice: Ch. 4, Internal Analysis
Which of the following were resources and capabilities that helped Five Guys gain a competitive advantage and develop into a successful restaurant chain?
Multiple select question.
Never using the highest-priced vendor for a product
Preparing and freezing meat paddies at a centrally located site
Carefully choosing the supplier of the potatoes for their fries
Focusing on such details as store layout and design
The core competencies of a business are generated by the interaction of Blank______.
Multiple choice question.
resources and ownership
ownership and management
resources and capabilities
capabilities and management
A(n) Blank______ is a unique strength, embedded deep within a firm, that is critical to gaining and sustaining competitive advantage.
Multiple choice question.
activity
capability
resource
core competency
Which of the following are examples of resources for a firm?
Multiple select question.
cash
buildings
intellectual property
legal liabilities
The resource-based view classifies all resources as Blank______.
Multiple choice question.
low cost or high cost
domestic or foreign
capital or labor
tangible or intangible
MGT 498 Wk 1 – Apply: Signature Assignment: Strategic Management Journal Part 1
Read the Strategic Management Project Background document.
Review the resources listed at the end of this assignment along with the terms and concepts discussed this week to prepare for this assignment:
- strategic management
- competitive advantage
- strategic plan
- mission statement
- vision statement
- core values statement
- AFI
Create a Word document and title it Strategic Management Research Journal Part 1.
Write a 500- to 700-word response to the following prompts as your journal entry:
- Justify the guiding principles required for preparing effective statements that describe the mission, vision, and the core values of an organization as covered in the assigned reading.
- Compare whether Caterpillar Inc.’s mission, vision, and core values conform to the guiding principles in the text and support organizational strategic planning principles as justified in prompt #1. Refer to the Caterpillar Inc. website listed in the Resources section below.
- Assess what Caterpillar Inc.’s current competitive advantages and disadvantages are by considering their business partners, allies, and general operations. Research the assignment resources listed below. Based on your research, evaluate Caterpillar’s current competitive advantages and disadvantages.
Note: You will use information from this entry in your Strategic Management Research Project Presentation due in Week 5.
Submit your assignment.
MGT 498 Wk 2 – Practice: Ch. 5, Competitive Advantage, Firm Performance
Which of the following statements are true about the rival businesses Apple and Microsoft? (Check all that apply.)
Multiple select question.
Microsoft almost went bankrupt in late 1990s.
Apple’s primary business for several decades was to sell computers to corporations.
Microsoft leveraged its computer operating system to sell other software programs.
Apple introduced a series of popular consumer electronic devices.
Which of the following statements is true about a firm’s stock price?
Multiple choice question.
The price tends not to reflect accounting profitability.
The price determines in part the stock’s market valuation.
The price is not correlated with the firm’s economic value creation.
The price is calculated exactly from the firm’s accounting profitability.
Which of the following correctly describe the information used for comparing the performance of public companies based on accounting profitability?
Multiple select question.
The information must be purchased from private investment banks.
The relative performance is evaluated using standardized financial metrics.
The information is derived from such data as income statements and balance sheets.
The information is filed in a 10-K report.
The legal owners of publicly traded companies are called Blank______.
Multiple choice question.
executives
shareholders
business holders
stock brokers
MGT 498 Wk 2 – Practice: Ch. 12, Corporate Governance and Business Ethics
True or false: The shared value creation framework aims to reconcile the concept of gaining and sustaining a competitive advantage with corporate social responsibility.
True false question.
True
False
Private start-up companies valued at over $1 billion, such as some of those in the tech sector, are called ______.
Multiple choice question.
dragons
piranhas
unicorns
butterflies
A public stock company is considered by law to be an entity with legal rights and obligations. This is known as Blank______.
Multiple choice question.
legal personality
legal ownership
limited liability
investor ownership
Which of the following is a major drawback of public stock companies, according to Michael Porter and others?
Multiple choice question.
They prioritize financial performance over all else.
They suffer too easily from inertia.
They focus too heavily on the greater good.
They get caught up in sustainability and overlook financial issues.
The shared value creation framework encourages managers to focus on which of the following needs?
Multiple select question.
social
spiritual
economic
emotional
MGT 498 Wk 2 – Apply: Strategic Management Journal Part 2
Strategic management includes an analysis of a business’s current state. Continuing with your research of Caterpillar, Inc., you will leverage the business SWOT tool to identify and drive organizational strategic decision making and evaluate problem-solving strategies for the company.
Review the Strategic Management Project Background document.
Create a Word doc and title it Strategic Management Research Journal Part 2.
Write a 350- to 525-word response to the following prompts in your journal entry:
- Conducta SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis of Caterpillar, Inc. Each SWOT quadrant must contain 7-10 items, (this is not included in the 525-word count).
- Analyze Caterpillar’s strengths and include specific examples based on your SWOT analysis findings.
- Evaluate the weaknesses and threats for any common themes that might be a risk.
- Compare Caterpillar’sweaknesses against its opportunities.
- Proposeproblem-solving strategies to address Caterpillar’s weaknesses or threats that could be mitigated by a business opportunity or business decision.
Include references per APA format.
Note: You will use information from this entry in your presentation due in week 5.
Submit your assignment.
MGT 498 Wk 3 – Practice: Ch. 11, Organizational Design: Structure, Culture
The portion of the strategic management process that concerns the organization, coordination, and integration of work processes is Blank______.
Multiple choice question.
ambidextrous organization
strategy implementation
formalization design
holacracy
The structure, processes, and procedures of an organization are designed, put into place, reviewed, and reworked through a process known as Blank______.
Multiple choice question.
diversification
organizational design
holacracy
strategy formulation
Which of the following terms describes searching for new knowledge that may enhance a firm’s future performance?
Multiple choice question.
Diversification
Ambidexterity
Exploitation
Exploration
A firm’s unwillingness to alter how things are currently done is known as Blank______.
Multiple choice question.
inertia
organic specialization
strategy implementation
insubordination
Which of the following determines the allocation of resources and the organization and operations of workers?
Multiple choice question.
a firm’s strategic intent
a firm’s organizational structure
the specific management team functionality
an organizational external opportunities analysis
Effective strategy implementation, in general, will help a firm Blank______.
Multiple choice question.
circumvent governmental hurdles during global expansion
solidify hierarchical decision-making processes
gain and sustain competitive advantage
become the low-cost leader of its industry
MGT 498 Wk 3 – Apply: Signature Assignment: Strategic Management Research Journal Part 3
Review the Strategic Management Project Background document.
Review the following terms and concepts discussed this week to prepare for this assignment:
- Organizational structure
- Organizational culture
- Inertia
- Holacracy
- PESTEL model
Create a Microsoft® Word document and title it Strategic Management Research Journal Part 3.
Write a 525- to 700-word response to the following prompts in your journal entry:
- Assess whether Caterpillar Inc. is using the appropriate measures to verify its strategic effectiveness.
- Summarize Caterpillar Inc.’s organizational structure.
- Determine whether Caterpillar Inc.’s organizational structure is considered a traditional organizational structure or a Holacracy.
- Justify why it’s important for Caterpillar Inc.’s leadership team to study and understand the company’s internal and external environments.
- Evaluate Caterpillar Inc.’s competitive position and how they have responded to shifts in the external and internal environments.
- Recommend strategies in operational changes to support Caterpillar’s strategic plan, future business decisions, and improvement in business performance.
Include references per APA format.
Note: You will use information from this entry in your presentation due in Week 5.
Submit your assignment.
MGT 498 Wk 4 – Practice: Ch. 8, Corporate Strategy
Amazon’s continued focus on Blank______ is key to its ongoing success.
Multiple choice question.
specific target markets
shareholder profits
innovation
employee perks
______ strategy involves the decisions that senior management makes and the goal-directed actions it takes to gain and sustain competitive advantage in several industries and markets simultaneously.
Multiple choice question.
Transactional
Administrative
Corporate
Transformational
In order for a firm to lower costs, it must Blank______.
Multiple choice question.
grow
lower profits
lower its expectations
increase risks
Which of the following describes economies of scope?
Multiple choice question.
the average cost per unit decreasing as output increases
the savings from producing two or more outputs at less cost than producing each output individually
costs associated with economic exchange
the unique strengths embedded deep within a firm
Companies that transact in the open market incur Blank______.
Multiple choice question.
external transaction costs
dividends
internal transaction costs
staffing costs
Which of the following is an example of the principal-agent problem even when the principal’s goal is to create shareholder value?
Multiple choice question.
a manager making decisions based on what is best for the company
a manager flying first class on all business trips
a manager controlling and limiting business expenses
a manager receiving generous stock options
MGT 498 Wk 4 – Practice: Ch. 9, Corporate Strategy: Alliances
How does Lyft benefit from its strategic alliances with GM and Waymo?
Multiple choice question.
It provides Lyft with shares of GM and unlimited funds.
It allows Lyft to more effectively compete against Uber.
It gives Lyft access to new markets that Uber is unaware of.
Reason:
It not likely that Uber would be unaware of such markets.
It gives Lyft a winner-take-all advantage.
Strategists can grow their firms by growing organically through internal development or externally through alliances and Blank______.
Multiple choice question.
divesting businesses
PESTEL analysis
capabilities
acquisitions
A conceptual model that helps strategists choose between seeking internal development, entering into an alliance, or acquiring new resources, capabilities, and competencies is called the “______ framework.”
Multiple choice question.
capability development
organic growth
build-borrow-or-buy
internal-versus-external growth
A voluntary arrangement between firms to share knowledge, resources, and capabilities to develop products, processes, or services is known as a Blank______.
Multiple choice question.
strategic alliance
merger
hostile takeover
wholly owned subsidiary
Which of the following are reasons why firms enter into strategic alliances?
Multiple select question.
to learn new capabilities
to strengthen their competitive position
to decrease economies of scale
to enter new markets
to increase outsourcing
MGT 498 Wk 4 – Apply: Strategic Management Research Journal Part 4
Review the Strategic Management Project Background document.
Review the following terms and concepts discussed this week to prepare for this assignment:
- Vertical integration
- Taper integration
- Backward vertical integration
- Forward vertical integration
- Strategic alliances
- Global strategy
- International strategy
- Innovation
Create a Microsoft® Word document and title it Strategic Management Research Journal Part 4.
Write a 525- to 700-word response to the following prompts in your journal entry:
- Identify Caterpillar Inc.’s short-term and long-term goals.
- Evaluate how mergers and acquisitions in the last 3-5 years have contributed to Caterpillar Inc.’s performance and affected its organizational goals.
- Determinethe most critical merger or acquisition that has contributed to Caterpillar’s performance and success in achieving organizational goals. Defend your choice.
- Evaluate the effectiveness of Caterpillar’s operational plan for global strategies (international, multi-domestic, global-standardization, or transnational). Include supporting research or data.
Include references per APA format.
Note: You will use information from this entry in your presentation due in Week 5.
Submit your assignment.
MGT 498 Wk 5 – Practice: Ch. 6, Business Strategy
Which of the following are business strategies JetBlue pursued in order to gain a competitive advantage?
Multiple choice question.
economies of scale and differentiation
differentiation, cost-leadership, and economies of scale
cost-leadership and economies of scale
differentiation and cost-leadership
A company’s goal-directed plans regarding how to compete for advantage is known as the firm’s Blank______.
Multiple choice question.
blue ocean strategy
industry effects
business-level strategy
sustainable competitive advantage
How to compete on a business level is defined by the variables value and cost. Together they define the Blank______.
Multiple choice question.
potential economic value
economic value created
the strategic fit
perceived economic value
Which of the following are considered the two generic business-level strategies?
Multiple select question.
oligopoly
cost-leadership
value gap
monopolistic competition
differentiation
A manufacturer of electronic components can use its manufacturing machines to produce many different components such as semiconductors, sensors, and capacitors. In this case, the firm benefits from an economy of tioBlank 1Blank 1 tio , Incorrect Unavailable, reducing overall production costs by finding multiple uses for its components and facilities.
As JetBlue grew, which of the following occurred during the years following 2007?
Multiple choice question.
It focused only on highly profitable city routes.
It began to share its blue ocean strategy with other airlines.
It gained a sustainable competitive advantage.
It suffered a competitive disadvantage.
MGT 498 Wk 5 – Apply: Signature Assignment: Strategic Management Research Project Presentation
Review the Strategic Management Project Background document and your Strategic Management Research Journal entries from Weeks 1‑4.
Create a 12- to 14-slide presentation, complete with speaker notes for Caterpillar Inc.’s leadership team, in which you summarize your key findings, propose recommendations, and provide rationale for your recommendations.
Address the following topics and prompts in your presentation:
Topic: Caterpillar Inc.’s Vision
- Summarize your evaluation of the alignment between what Caterpillar Inc. is currently doing and their mission, vision, or values statement.
- Recommend any changes you would make to Caterpillar Inc.’s mission, vision, or values statements to improve organizational goals.
Topic: Caterpillar Inc.’s Competitive Advantages and Disadvantages
- Summarize your analysis of the strengths and weaknesses of Caterpillar Inc.’s competitive advantages and disadvantages.
- Recommend operational changes to improve Caterpillar Inc.’s competitive advantages and business performance.
- Propose a plan to measure and monitor the effectiveness of your recommended operational changes in Caterpillar Inc.’s competitive advantages to achieve organizational goals.
Topic: Caterpillar’s Global Strategy
- Summarize your assessment of Caterpillar Inc.’s global strategy.
- Recommend operational changes to improve Caterpillar Inc.’s global strategy and business performance.
- Propose a plan to measure and monitor the effectiveness of your recommended operational changes to Caterpillar Inc.’s global strategy to achieve organizational goals.
Include references per APA format.
Submit your assignment.