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CHAPTER 8
Managing Strategy and Strategic Planning

TRUE-FALSE QUESTIONS
Ans: T 1. T F Strategy is a comprehensive plan for accomplishing an
Page: 237 organization’s goals.
Type: Def
LO: 1
AACSB: A
Ans: T 2. T F The range of markets in which the organization intends to
Page: 237 compete are defined by the scope dimension of its
Type: Def strategy.
LO: 1
AACSB: A
Ans: F 3. T F In its corporate-level strategy, an organization chooses
Page: 238 the strategic alternatives in a particular industry or
Type: Def region.
LO: 1
AACSB: A
Ans: T 4. T F A firm has developed a corporate-level strategy if it
Page: 238 develops an overall strategy for all the various businesses
Type: Def in which it competes.
LO: 1
AACSB: A
Ans: F 5. T F Strategy execution focuses on the content of the strategy.
Page: 238
Type: Def
LO: 1
AACSB: A
Ans: F 6. T F Strategic formulation is the set of processes involved in
Page: 238 executing strategic plans.
Type: Def
LO: 1
AACSB: A
Ans: F 7. T F An emergent strategy is formulated and implemented in a
Page: 238 rational, systematic, and planned way.
Type: Def
LO: 1A
AACSB:
Ans: F 8. T F Emergent strategies are ineffective and should be
Page: 238 avoided.
Type: Comp
LO: 1
AACSB: R

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174 Chapter 8: Managing Strategy and Strategic Planning

Ans: F 9. T F Ugg makes footwear and accessories for men, women,

Page: 238 and children. That is the company’s resource
Type: App deployment.
LO: 1
AACSB: R
Ans: F 10. T F SWOT analysis determines the primary strategy, wages,
Page: 239 operations, and tactics in an organization.
Type: Def
LO: 2
AACSB: A
Ans: T 11. T F Most organizations have a difficult time focusing on
Page: 239 weaknesses.
Type: Comp
LO: 2
AACSB: R
Ans: F 12. T F Ugg, Monte Blanc, and Allen Edmonds pursue an overall
Page: 244 cost leadership strategy.
Type: App
LO: 3
AACSB: R
Ans: F 13. T F The Miles and Snow typologies are cash cow, star, dog,
Page: 245 and question mark.
Type: Def
LO: 3
AACSB: A
Ans: T 14. T F Ralston-Purina’s products include a number of old
Page: 245 standbys, but a large percentage of its revenues also
Type: App comes from products that did not exist five years ago.
LO: 3 Ralston-Purina’s approach to things represents a
AACSB: R prospector strategy.

Ans: T 15. T F The concept of product life cycle can be used to choose
Page: 246 which strategy is appropriate for a given product at a
Type: Def particular point in time.
LO: 3
AACSB: A
Ans: T 16. T F During the maturity stage of the product life cycle, sales
Page: 247 volume for a product typically reaches its peak.
Type: Comp
LO: 3
AACSB: R
Ans: F 17. T F Focus is the process of setting the firm’s products apart
Page: 244 from the products of other companies.
Type: Def
LO: 3
AACSB: A
Ans: T 18. T F Signature Cleaners and Tailors offers home pick-up and
Page: 244 delivery. Signature uses a differentiation strategy.
Type: App
LO: 3
AACSB: R

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 Chapter 8: Managing Strategy and Strategic Planning 175

Ans: T 19. T F The key to implementing business strategies is

Page: 247 integrating different functions.
Type: Comp
LO: 4
AACSB: R
Ans: T 20. T F When implementing a differentiation strategy it is
Page: 248 important to maintain cost proximity without shutting off
Type: Comp creativity.
LO: 4
AACSB: R
Ans: T 21. T F Companies that diversify in related fields are typically
Page: 251 more effective than those that do not.
Type: Def
LO: 4
AACSB: A
Ans: F 22. T F Unrelated diversification can be based on similar
Page: 251 technologies.
Type: Def
LO: 5
AACSB: A
Ans: T 23. T F Stars, question marks, and dogs could all be net cash
Page: 255 users.
Type: Comp
LO: 6
AACSB: R
Ans: F 24. T F An international strategy in which the company attempts
Page: 261 to combine the benefits of global scale efficiencies with
Type: Def the benefits and advantages of local responsiveness is
LO: 7 called global strategy.
AACSB: A
Ans: F 25. T F An international strategy in which the company manages
Page: 261 itself as a collection of domestic markets is called a home
Type: Def replication strategy.
LO: 7
AACSB: A

MULTIPLE-CHOICE QUESTIONS
Choose the best answer from the responses listed.
Ans: D 26. Effective strategies
Page: 237 a. develop long-range plans for resource allocation.
Type: Def b. provide an in-depth analysis of the organization’s internal
LO: 1 strengths and weaknesses.
AACSB: A c. provide managers with a list of environmental contingency
factors.
d. align the organization and environment to achieve strategic
goals.
e. focus on the mission statement.

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176 Chapter 8: Managing Strategy and Strategic Planning

Ans: C 27. Krispy Kreme sells doughnuts. It markets them primarily to people
Page: 237 who want something quick and sweet for breakfast or as a morning
Type: App snack. This is an example of Krispy Kreme’s
LO: 1 a. industry niche.
AACSB: R b. synergy.
c. scope.
d. resource deployment.
e. entropy.
Ans: B 28. Which of the following areas does a well-conceived strategy address?
Page: 237 a. The organizational chart
Type: Def b. Scope
LO: 1 c. Suppliers and distributors
AACSB: A d. Pricing strategy
e. Tactical goals
Ans: A 29. Food 4 All, Inc. sold its three nonfood businesses and replaced them
Page: 237 with firms in the food industry. Which element of corporate strategy
Type: App does this choice to compete in the food industry specifically address?
LO: 1 a. Scope
AACSB: R b. Resource deployment
c. Distinctive competence
d. Synergy
e. Alignment
Ans: E 30. The Culinary Institute of America (CIA) teaches cooking and
Page: 237 operates French, Italian, and American restaurants. It also sells
Type: App cooking supplies. This is an example of CIA’s _______.
LO: 1 a. alignment
AACSB: R b. synergy
c. distinctive competence
d. resource deployment
e. scope
Ans: C 31. Coca-Cola sells soft drinks, bottled water, and sports drinks. This is
Page: 237 an example of
Type: App a. alignment.
LO: 1 b. synergy.
AACSB: R c. scope.
d. resource deployment.
e. entropy.
Ans: D 32. Wal-Mart sought approval for an industrial bank charter. This is an
Page: 237 example of changing
Type: App a. alignment.
LO: 1 b. synergy.
AACSB: R c. scope.
d. resource deployment.
e. entropy.
Ans: D 33. When an airline uses profits from one region to lower prices in
Page: 237 another region it is using
Type: App a. alignment.
LO: 1 b. synergy.
AACSB: R c. scope.
d. resource deployment.
e. entropy.

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 Chapter 8: Managing Strategy and Strategic Planning 177

Ans: D 34. _____ is the component of strategy that indicates what the
Page: 237 organization does exceptionally well.
Type: Def a. Resource deployment
LO: 1 b. Synergy
AACSB: A c. Scope
d. Distinctive competence
e. None of these
Ans: D 35. In the 1980s, if you mentioned Harley-Davidson motorcycles to the
Page: 237 average consumer, he or she immediately thought of motorcycle
Type: App gangs—more specifically, Hell’s Angels. Now the price of a Harley
LO: 1 can top $20,000, and there are riding clubs like Rubs (Rich urban
AACSB: R riders) that include executives, attorneys, and doctors. The club
members are attracted to Harleys for their wild and free image.
Harley-Davidson’s image is a(n) _____ not easily imitated by
competitors.
a. organizational weakness
b. strategic limitation
c. entropy
d. distinctive competence
e. organizational opportunity
Ans: D 36. Business-level strategy focuses primarily on
Page: 238 a. which markets to enter and how to use the firm’s money,
Type: Def people, and physical facilities.
LO: 1 b. which markets to enter and in what areas the firm may have a
AACSB: A competitive edge.
c. which markets to enter and how the parts of the organization
enhance the entry.
d. the areas in which the firm may have an advantage and how
much various organizational parts enhance each other.
e. the firm’s competitive advantage(s).
Ans: A 37. Strategy formulation is
Page: 238 a. a set of processes involving the organization’s strategies.
Type: Def b. the method by which strategies are operationalized.
LO: 1 c. the same as goal development.
AACSB: A d. also called corporate-level strategy.
e. a form of functional strategy.
Ans: C 38. After so many people complimented Robin Hoder’s honey mustard,
Page: 238 she decided to start a small business called Naples Valley Products to
Type: App manufacture and market her mustard. At this juncture, Hoder was
LO: 1 engaged in
AACSB: R a. strategic marketing.
b. tactical implementation.
c. strategic formulation.
d. corporate strategy.
e. competitive response.

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178 Chapter 8: Managing Strategy and Strategic Planning

Ans: A 39. GE competes in industries ranging from medical devices to

Page: 238 appliances to television networks. GE’s mixed strategy is an
Type: App example of _____ strategy.
LO: 1 a. corporate-level
AACSB: R b. long-term
c. business-level
d. functional
e. short-term
Ans: B 40. The primary concern of strategy implementation is
Page: 238 a. the content of the strategy.
Type: Comp b. how the strategy is operationalized and executed.
LO: 1 c. goal development.
AACSB: R d. corporate-level strategy.
e. functional strategy.
Ans: B 41. A(n) _____ strategy is a plan chosen and implemented to support
Page: 238 specific goals, such as an increase of market share by 5 percent.
Type: Def a. valid
LO: 1 b. deliberate
AACSB: A c. reliable
d. emergent
e. synergistic
Ans: D 42. A(n) _____ strategy is a pattern of action that develops over time in
Page: 238 an organization in the absence of missions and goals, or despite
Type: Def missions and goals.
LO: 1 a. valid
AACSB: A b. deliberate
c. reliable
d. emergent
e. synergistic
Ans: D 43. Google bought YouTube even though it operated at a loss. The
Page: 238 business strategy for YouTube is ______.
Type: App a. valid
LO: 1 b. deliberate
AACSB: R c. reliable
d. emergent
e. synergistic
Ans: D 44. Don opened a pizza shop. It was successful, so he opened a
Page: 238 restaurant; it failed. So he opened a bed and breakfast; it succeeded.
Type: App He wanted to save a historic building, so he turned it into a retreat
LO: 1 center. Don uses a(n) ______ strategy.
AACSB: R a. valid
b. deliberate
c. reliable
d. emergent
e. synergistic

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 Chapter 8: Managing Strategy and Strategic Planning 179

Ans: A 45. In environmental SWOT analysis, the external organizational

Page: 239 position is analyzed according to its
Type: Def a. opportunities and threats.
LO: 2 b. opportunities and weaknesses.
AACSB: A c. strengths and threats.
d. strengths and weaknesses.
e. return on investment.
Ans: A 46. The starting point in formulating strategies is usually
Page: 239 a. a SWOT analysis.
Type: Def b. goal implementation.
LO: 2 c. operational plans.
AACSB: R d. a mission statement.
e. a control function.
Ans: A 47. Krispy Kreme has a distribution network that allows fresh doughnuts
Page: 239 to be transported to convenience stores, supermarkets, and Krispy
Type: App Kreme outlets before dawn so that consumers can enjoy them that
LO: 2 same day. This is an example of a(n) _____ for the Krispy Kreme
AACSB: A organization.
a. organizational strength
b. scope extension strategy
c. defender strategy
d. distinctive strategy
e. competitive disadvantage
Ans: A 48. Coca-Cola’s success in global marketing is the result of its
Page: 239 distribution system and its marketing communications, which are two
Type: App of the company’s
LO: 2 a. organizational strengths.
AACSB: R b. competitive disadvantages.
c. organizational opportunities.
d. scope.
e. SBUs.
Ans: C 49. Texas Instruments got into the watch business as a result of
Page: 240 developing a technology that radically changed the nature of
Type: App wristwatches. Its strategy included the use of new equipment and
LO: 2 automation to drive down costs. This example best represents which
AACSB: R component of strategy?
a. Scope
b. Synergy
c. Distinctive competence
d. Competitive response
e. Resource deployment

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180 Chapter 8: Managing Strategy and Strategic Planning

Ans: B 50. In a small community in Michigan, there are two funeral homes.
Page: 240 One of them clips all pictures from the local paper, laminates them,
Type: App and mails them to the person photographed with a brief note. This is
LO: 2 an attempt to build positive relations with potential customers during
AACSB: R happy times. If the other funeral home chose to make similar
customer contact, the competitors would have
a. differential advantage.
b. strategic imitation.
c. emergent strategy.
d. distinctive competence.
e. competitive advantage.
Ans: C 51. Chaparral Steel is so efficient in its steel production and casting
Page: 240 processes that it is the only U.S. steel producer that regularly exports
Type: App its products to Japan. This is an example of Chaparral Steel’s
LO: 2 a. organizational opportunity.
AACSB: R b. common strength.
c. distinctive competence.
d. resource deployment.
e. scope.
Ans: C 52. In their book In Search of Excellence, Peters and Waterman found
Page: 240 that successful companies “stuck to their knitting.” In other words,
Type: Comp they concentrated on those things that they do well. To which
LO: 2 component of organizational strategy does this idea most directly
AACSB: R relate?
a. Organizational opportunity
b. Common strength
c. Distinctive competence
d. Resource deployment
e. Scope
Ans: C 53. Smart cars are the only cars that can park perpendicular to the curb,
Page: 240 which is especially beneficial in cities. This is an example of
Type: App a. scope.
LO: 2 b. synergy.
AACSB: R c. distinctive competence.
d. competitive response.
e. resource deployment.
Ans: D 54. Starstruck Eateries has been very successful over the years by
Page: 240 monitoring what successful restaurants in other cities are doing and
Type: App copying them. This is known as
LO: 2 a. competitive parity.
AACSB: R b. competitive advantage.
c. distinctive competence.
d. strategic imitation.
e. tactical differentiation.

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 Chapter 8: Managing Strategy and Strategic Planning 181

Ans: E 55. Datril was introduced into the pain-reliever market as a product just
Page: 240 like Tylenol. The makers of Datril used _____ to copy Tylenol’s
Type: App distinctive competence.
LO: 2 a. product aping
AACSB: R b. tactical imitation
c. product emulation
d. product integration
e. strategic imitation
Ans: B 56. When one disposable shaver maker introduced a three-blade shaver,
Page: 240 the other introduced three blades within months. They repeated the
Type: App process with four blades. This is an example of
LO: 2 a. product aping.
AACSB: R b. tactical imitation.
c. product emulation.
d. product integration.
e. strategic imitation.
Ans: E 57. When the CBS network introduced the reality show Survivor, the
Page: 240 show was an immediate success for the network. As a result ABC,
Type: App NBC, and Fox tried to introduce their own reality shows. In this
LO: 2 instance, ABC, NBC, and Fox used
AACSB: R a. product aping.
b. tactical imitation.
c. product emulation.
d. product integration.
e. strategic imitation.
Ans: D 58. Siemens corporate research earns on average 20 patents a day. The
Page: 240 patents give Siemens a(n) ______.
Type: App a. organizational opportunity
LO: 2 b. organizational threat
AACSB: R c. product integration
d. sustained competitive advantage
e. product emulation
Ans: D 59. Fort Howard Paper Company has a cost-saving manufacturing
Page: 240 process that its competitors cannot imitate. Fort Howard Paper
Type: App enjoys a(n)
LO: 2 a. organizational opportunity.
AACSB: R b. organizational threat.
c. product integration.
d. sustained competitive advantage.
e. product emulation.
Ans: A 60. AirTran Airlines (formerly ValuJet) has an airplane fleet that is older
Page: 241 than those owned by other airlines. This is a potential _____ because
Type: App it can give the company an image of poor quality or unsafe planes.
LO: 2 a. organizational weakness
AACSB: R b. strategic limitation
c. entropy
d. organizational threat
e. organizational opportunity

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182 Chapter 8: Managing Strategy and Strategic Planning

Ans: B 61. Howard Schultz traveled in Italy and liked the coffee. He founded
Page: 241 Starbucks with a plan to introduce American coffee drinkers to this
Type: App Italian-style drink. This is an example of ______ .
LO: 2 a. lack of organizational synergy
AACSB: R b. organizational opportunity
c. sustained competitive advantage
d. distinctive competency
e. organizational threat
Ans: D 62. The expiration of a pharmaceutical drug patent allows generic drug
Page: 241 makers to introduce the same chemical compound under a different
Type: App name and at lower prices. This is an example of ______ for the
LO: 2 developer of the original drug.
AACSB: R a. organizational weakness
b. strategic limitation
c. entropy
d. organizational threat
e. organizational opportunity
Ans: E 63. Network new programs have been losing viewers for years. They all
Page: 241 cover stories from left of center in the political spectrum. Fox News
Type: App saw a(n) ______ and covers stories from right of center. The
LO: 2 reporters all say they have no bias.
AACSB: R a. organizational weakness
b. strategic limitation
c. entropy
d. organizational threat
e. organizational opportunity
Ans: C 64. Toyota is the most successful automaker selling hybrid vehicles.
Page: 244 Toyota uses
Type: App a. differentiation, focus.
LO: 3 b. overall cost leadership.
AACSB: R c. differentiation.
d. focus.
e. cost leadership, focus.
Ans: E 65. Porter’s generic strategies classify firms by which of the following?
Page: 245 a. Stagnant
Type: Def b. Growth
LO: 3 c. Declining
AACSB: A d. Analyzing
e. Focus
Ans: C 66. Fox News covers stories from a right of center political point of
Page: 245 view. They use a ______ strategy. All reporters say they have no
Type: App bias.
LO: 3 a. prospecting
AACSB: R b. emergent
c. focus
d. cost leadership
e. guerrilla

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 Chapter 8: Managing Strategy and Strategic Planning 183

Ans: C 67. Gymboree sells high quality children’s clothing at high prices. It
Page: 245 uses a(n) ______ strategy.
Type: App a. prospecting
LO: 3 b. emergent
AACSB: R c. differentiation
d. cost leadership
e. guerrilla
Ans: C 68. Abercrombie and Fitch sells young adult clothing with overtly sexual
Page: 244 advertising at high prices with poor quality sewing. It uses a(n)
Type: App ______ strategy.
LO: 3 a. guerrilla
AACSB: R b. overall cost leadership
c. focus
d. differentiation
e. defender
Ans: C 69. Pea-in-the-Pod is a small chain of retailers that sell clothes only to
Page: 245 pregnant women and new mothers. Its quality materials, innovative
Type: App designs, reasonable prices, and _____ strategy create a competitive
LO: 3 advantage for the chain.
AACSB: R a. guerrilla
b. overall cost leadership
c. focus
d. emergent
e. defender
Ans: B 70. Chelsea Milling Company produces Jiffy Mix and other mixes. The
Page: 244 company is the fourth largest baking mix producer, has never spent a
Type: App cent on advertising, and sells its product for one-half to one-third the
LO: 3 cost of its competitors. The company pursues a(n) _____ strategy.
AACSB: R a. guerrilla
b. overall cost leadership
c. focus
d. differentiation
e. defender
Ans: D 71. Which of the following companies is noted primarily for employing
Page: 244 an overall cost leadership strategy?
Type: App a. Neiman-Marcus
LO: 3 b. Johnson & Johnson
AACSB: R c. Procter & Gamble
d. Wal-Mart
e. Tiffany’s
Ans: D 72. Which of the following is NOT one of the strategy types listed in the
Page: 245 Miles and Snow typology?
Type: Def a. Prospector
LO: 3 b. Defender
AACSB: A c. Reactor
d. Rescuer
e. Analyzer

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184 Chapter 8: Managing Strategy and Strategic Planning

Ans: A 73. 3M is a highly innovative firm that is constantly seeking new markets
Page: 245 and is oriented toward growth and taking risks. It uses a(n) _____
Type: App strategy.
LO: 3 a. prospector
AACSB: R b. defender
c. reactor
d. rescuer
e. analyzer
Ans: C 74. If the marketing department adopts a strategy calling for substantial
Page: 245 test marketing, aggressive advertising campaigns, and inducing
Type: Def consumer product trials, which of the following is most likely the
LO: 3 business strategy being used by the company as a whole?
AACSB: A a. Analyzer
b. defender
c. Prospector
d. Cost leadership
e. Focus
Ans: A 75. According to the Miles and Snow model of business strategy, which
Page: 245 of these strategies is the most appropriate for use in an unstable
Type: Def environment?
LO: 3 a. Prospector
AACSB: A b. Defender
c. Reactor
d. Rescuer
e. Analyzer
Ans: C 76. Jordache was once a dominant brand in the American blue-jean
Page: 246 market, commanding high prices. Now Jordache is sold in Wal-
Type: App Mart. This strategy is called
LO: 3 a. prospector.
AACSB: R b. defender.
c. reactor.
d. rescuer.
e. analyzer.
Ans: E 77. For years Dell computers were only available through Dell. Then it
Page: 246 contracted with Wal-Mart to sell there too. Dell used a(n) _____
Type: App strategy.
LO: 3 a. prospector
AACSB: R b. defender
c. reactor
d. rescuer
e. analyzer
Ans: A 78. Which of the strategy types in the Miles and Snow model avoids
Page: 245 long-term commitment to any single technology, is highly
Type: Def decentralized, and has a propensity to take risk?
LO: 3 a. Prospector
AACSB: A b. Defender
c. Reactor
d. Rescuer
e. Analyzer

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 Chapter 8: Managing Strategy and Strategic Planning 185

Ans: D 79. Which of the following is an example of one of the Miles and Snow
Page: 245 typology classifications for business strategies?
Type: Def a. Focuser
LO: 3 b. Rescuer
AACSB: A c. Aggressor
d. Prospector
e. Differentiator
Ans: C 80. News Networks operates in a very dynamic environment. Its
Page: 245 managers have decided to be on the lookout for new market and
Type: App product opportunities and to take advantage of them when they arise.
LO: 3 In addition, they have organized the firm along bureaucratic lines
AACSB: R based on the president’s desires. You would probably be safe in
predicting that News Networks will be a(n)
a. defender.
b. strategic failure.
c. prospector.
d. analyzer.
e. reactor.
Ans: A 81. _____ strategies in the Miles and Snow model represent a middle-of-
Page: 246 the-road approach to business strategy.
Type: Def a. Analyzer
LO: 3 b. Defender
AACSB: A c. Cash cow
d. Prospector
e. Star
Ans: E 82. AOL eliminated fees to some subscribers to try to attract more users.
Page: 246 AOL was using a(n) _____ strategy.
Type: Def a. analyzer
LO: 3 b. star
AACSB: A c. reactor
d. prospector
e. defender
Ans: E 83. The _____ strategy is the most conservative approach in the Miles
Page: 246 and Snow classifications of business strategies.
Type: Def a. analyzer
LO: 3 b. star
AACSB: A c. prospector
d. reactor
e. defender
Ans: A 84. _____ strategy refers to a mid-range strategy that attempts to move
Page: 246 into new market areas at a deliberate and carefully planned pace.
Type: Def a. Analyzer
LO: 3 b. Prospector
AACSB: A c. Targeted
d. Defender
e. Differentiation

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186 Chapter 8: Managing Strategy and Strategic Planning

Ans: C 85. Kmart has struggled for years competing with Wal-Mart and Target.
Page: 246 It tried celebrity labels, but that did not help. It can not lower prices
Type: App as low as Wal-Mart, because it does not have the cost cutting
LO: 3 expertise. This is an example of a(n) _____ strategy.
AACSB: R a. prospector
b. defender
c. reactor
d. rescuer
e. analyzer
Ans: A 86. The Toyota Prius initially had a waiting list and was excluded from
Page: 246 all rebate offers. The Toyota Prius was at which stage of the product
Type: App life cycle?
LO: 3 a. Introduction
AACSB: R b. Growth
c. Maturity
d. Decline
e. Extinct
Ans: E 87. The product life cycle
Page: 246 a. shows how sales volume changes over time for products.
Type: Def b. can help managers recognize that strategies need to evolve over
LO: 3 time.
AACSB: A c. begins when a new product or technology is first introduced.
d. generally consists of four stages.
e. All of the above
Ans: E 88. _____ is a useful framework for managers to use as they plot
Page: 246 business strategy over time.
Type: Def a. The BCG matrix
LO: 3 b. The GE screen
AACSB: A c. Porter’s competitive strategies model
d. The Miles and Snow model of business strategy
e. The product life cycle
Ans: B 89. Which of these is concerned with the changes in the sales volume of
Page: 246 a product during its existence?
Type: Def a. Portfolio approach
LO: 3 b. Product life cycle approach
AACSB: A c. Environmental SWOT analysis
d. Miles and Snow model
e. Maslow’s hierarchy
Ans: A 90. Reality shows became prevalent on television after CBS introduced
Page: 247 the first Survivor series. That type of television show is now in the
Type: App maturity stage of its product life cycle. This means
LO: 3 a. demand for the product has reached a plateau.
AACSB: R b. the number of companies producing reality television shows is
declining rapidly.
c. more firms are producing more reality shows and are finding it
easy to sell the concepts and the filmed shows to the networks.
d. production companies find themselves left with shows that the
networks do not want unless they differentiate their product.
e. None of these

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 Chapter 8: Managing Strategy and Strategic Planning 187

Ans: E 91. When implementing a differentiation strategy it is important to have

Page: 248 a. marketing emphasize high-value distinction.
Type: Comp b. control of funds without discouraging creativity.
LO: 4 c. manufacturing adjust inventory.
AACSB: R d. a culture focused on customer needs.
e. All of these
Ans: A 92. Warsteiner beer has the slogan “Life is too short, to drink cheap
Page: 248 beer.” This slogan supports a _____ strategy.
Type: App a. differentiation
LO: 4 b. cost leadership
AACSB: R c. reactor
d. prospector
e. guerrilla
Ans: E 93. An organization implementing a prospector strategy needs to
Page: 249 a. create new opportunity.
Type: Comp b. remain flexible.
LO: 4 c. respond quickly.
AACSB: R d. decentralize decision making.
e. All of these
Ans: E 94. Prior to 1990, Campbell Soup Company was languishing near the
Page: 250 bottom of the food industry. It was committed to maintaining its
Type: App current market and was not interested in growth. Then it got a new
LO: 4 CEO, David W. Johnson. The company exceeded its growth goals in
AACSB: R both 1991 and 1992, and launched 122 new products. Its strategy
prior to the hiring of Johnson exemplified a _____ strategy.
a. differentiation
b. cost leadership
c. reactor
d. prospector
e. defender
Ans: B 95. The aircraft engine division of General Electric, which competes with
Page: 250 Pratt & Whitney, has its own mission and a strategy that often differs
Type: App considerably from other parts of the corporation. What is a division
LO: 5 such as this called?
AACSB: R a. An independent business
b. A strategic business unit
c. An entrepreneurship
d. A functional department
e. A competitive unit
Ans: B 96. For years, the Tabasco Company used a(n) _____ strategy and
Page: 251 manufactured only its famous hot sauce.
Type: App a. defender
LO: 5 b. single-product
AACSB: R c. aggregation
d. forward integration
e. backward integration

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188 Chapter 8: Managing Strategy and Strategic Planning

Ans: A 97. When Turner Broadcasting purchased a movie studio with its vault of
Page: 251 old movies, it was an example of a(n) _____ diversification strategy.
Type: App Turner was able to get a source for movies to show on its various
LO: 5 cable television stations.
AACSB: R a. related
b. integrated
c. unrelated
d. functional
e. institutional
Ans: A 98. Reckitt & Colman, Inc. manufactures Spray ’n Wash laundry stain
Page: 251 remover, Resolve fabric refresher, and Woolite fabric wash. This is
Type: App an example of _____ diversification.
LO: 5 a. related
AACSB: R b. integrated
c. unrelated
d. consumer
e. product
Ans: C 99. Clorox Corporation owns Kingsford charcoal, Matchlight charcoal
Page: 252 lighter, Prime Choice steak sauce, and a restaurant chain. This is an
Type: App example of _____ diversification.
LO: 5 a. related
AACSB: R b. integrated
c. unrelated
d. consumer
e. product
Ans: B 100. Which of the following is NOT an example of a basis of relatedness
Page: 251 for implementing related diversification?
Type: Def a. Similar technology
LO: 5 b. Similar human resources
AACSB: A c. Common brand name and reputation
d. Common customers
e. Common distribution and marketing skills
Ans: D 101. In 1987, Allegis Corporation consisted of United Airlines, Hertz
Page: 252 Rent-a-Car, and Westin Hotels. United had purchased and combined
Type: App these firms into one corporation because it was thought that they
LO: 5 could accomplish more joined together than they could operating as
AACSB: R separate units. Which advantage of related diversification does this
best represent?
a. Reducing overhead
b. Creating a distinctive competence
c. Innovation
d. Synergy
e. Reducing business dependence
Ans: D 102. Kraft Food Inc offered to buy Cadbury, a confection and beverage
Page: 252 company. Which advantage of related diversification could result
Type: App from the merging of these two businesses?
LO: 5 a. Reducing overhead
AACSB: R b. Creating a distinctive competence
c. Innovation
d. Synergy
e. Reducing business dependence

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 Chapter 8: Managing Strategy and Strategic Planning 189

Ans: E 103. _____ exists when the economic value together is greater than the
Page: 252 value of the parts.
Type: Def a. Entropy
LO: 5 b. Competitive support
AACSB: A c. Resource deployment
d. Scope
e. Synergy
Ans: D 104. An example of _____ would be when credit card and mortgage
Page: 252 divisions of banks often get their customers from the bank’s
Type: App commercial loan customers.
LO: 5 a. resource deployment
AACSB: R b. strategic scope
c. competitive advantage
d. synergy in related diversification
e. None of these
Ans: C 105. Which of the following is NOT an advantage inherent in related
Page: 252 diversification?
Type: Comp a. Reducing business dependence
LO: 5 b. Reducing overhead
AACSB: R c. Scope
d. Synergy
e. Reducing risk
Ans: C 106. One action that an organization may take with respect to an SBU
Page: 252 classified as a dog is to sell it. It seems odd that one organization
Type: Comp would want to buy another’s dog. Which of the following might
LO: 5 explain such a purchase?
AACSB: R a. A need to generate large amounts of short-run cash
b. A desire to expand into a rapidly growing market
c. Possible synergistic effects on the buying organization
d. A decision to adopt a retrenchment strategy
e. A desire to complete a hostile takeover of the seller
Ans: C 107. Ford once supplied every part to its automobiles, except the rubber (it
Page: 254 even tried to grow the trees, to no avail). This is an example of
Type: App a. forward vertical integration.
LO: 6 b. unrelated diversification.
AACSB: R c. backward vertical integration.
d. horizontal integration.
e. a defender strategy.
Ans: A 108. Franke, a Swiss manufacturer of sink and facet systems, sold
Page: 254 accessories through retail stores and then added Internet sales.
Type: App Franke used
LO: 6 a. forward vertical integration.
AACSB: R b. unrelated diversification.
c. backward vertical integration.
d. horizontal integration.
e. a defender strategy.

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190 Chapter 8: Managing Strategy and Strategic Planning

Ans: E 109. _____ are corporate-level strategies for becoming a diversified firm.
Page: 254 a. Internal developments of new products
Type: Def b. Backward vertical integrations
LO: 6 c. Mergers
AACSB: A d. Acquisitions
e. All of the above
Ans: E 110. Forms of diversification include
Page: 254 a. acquisitions.
Type: Def b. vertical integration.
LO: 6 c. mergers.
AACSB: A d. the internal development of new products.
e. All of these
Ans: E 111. Porsche Automobil Holding and Volkswagen own each others stock.
Page: 254 They plan to integrate the companies in 2011. This diversification
Type: App strategy is ______.
LO: 6 a. acquisition
AACSB: R b. forward vertical integration
c. horizontal integration
d. backward integration
e. merger
Ans: A 112. Using the Boston Consulting Group matrix, SBUs are classified on
Page: 255 the basis of
Type: Def a. market share and market growth rate.
LO: 6 b. market share and cash generation potential.
AACSB: A c. market growth rate and financial strength.
d. financial strength and product life cycle.
e. cash generation potential and product life cycle.
Ans: B 113. _____ is the proportion of the market controlled by the product.
Page: 255 a. Market growth rate
Type: Def b. Relative market share
LO: 6 c. Competitive advantage
AACSB: A d. Tactical scope
e. Functional reach
Ans: A 114. Extra funds should be channeled to the _____, which is a product
Page: 255 with a high share of a fast-growing market.
Type: Comp a. star
LO: 6 b. cash cow
AACSB: R c. rising star
d. defender
e. question mark
Ans: B 115. Companies should invest carefully and monitor closely a _____,
Page: 255 which is a product that has a small share of a growing market.
Type: Def a. cash cow
LO: 6 b. question mark
AACSB: A c. defender
d. star
e. rising star

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 Chapter 8: Managing Strategy and Strategic Planning 191

Ans: C 116. Bausch & Lomb has a large share of the growing contact lens market.
Page: 255 Bausch & Lomb is an example of a
Type: App a. cash cow.
LO: 6 b. prospector.
AACSB: R c. star.
d. question mark.
e. dog.
Ans: D 117. Compu Desk has a small share of the growing desktop computer
Page: 255 market. Compu Desk is an example of a
Type: App a. cash cow.
LO: 6 b. prospector.
AACSB: R c. star.
d. question mark.
e. dog.
Ans: E 118. Philip Morris markets Marlboro cigarettes, the number-one selling
Page: 255 cigarette brand in the world. Outside the United States, Marlboro
Type: App generates huge profits that Philip Morris uses to support other less
LO: 6 successful SBUs. According to the BCG matrix, Marlboro is an
AACSB: R example of a
a. question mark.
b. problem child.
c. star.
d. barking dog.
e. cash cow.
Ans: A 119. Adolph Coors Company heavily developed Zima brand beer that was
Page: 255 targeted to Generation Xers, but Zima gained only a small share of a
Type: App rapidly growing market. According to the BCG matrix, Zima is an
LO: 6 example of a
AACSB: R a. question mark.
b. rising star.
c. star.
d. barking dog.
e. cash cow.
Ans: D 120. The production company that provided the television show Who
Page: 255 Wants to Marry My Dad? to be shown on night-time television to
Type: App compete in a market begun by Joe Millionaire had to cut cash flow
LO: 6 when the demand for the show did not live up to expectations.
AACSB: R According to the BCG matrix, the TV show Who Wants to Marry My
Dad? was an example of a
a. question mark.
b. rising star.
c. star.
d. dog.
e. cash cow.

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192 Chapter 8: Managing Strategy and Strategic Planning

Ans: A 121. YouTube has high market share and high market growth rate, which
Page: 255 would make it a ______. However it still does not have a profitable
Type: App business plan.
LO: 6 a. star
AACSB: R b. question mark
c. dog
d. cash cow
e. rising star
Ans: C 122. Assuming an SBU retained its share of the market, how would it be
Page: 255 classified if it were a star and its market subsequently became a low-
Type: Comp growth market?
LO: 6 a. Still a star
AACSB: R b. A defender
c. A cash cow
d. A dog
e. A question mark
Ans: B 123. One characteristic of an SBU classified as a star is
Page: 255 a. a large share of a low-growth market.
Type: Comp b. a large amount of short-run cash support.
LO: 6 c. a very small amount of money for growth and expansion.
AACSB: R d. probable divestiture by the corporation.
e. the potential to achieve a large market share.
Ans: A 124. GE noticed that financial institutions had large profit margins. When
Page: 255 GE entered the industry, its SBU was
Type: App a. a question mark.
LO: 6 b. a winner.
AACSB: R c. a loser.
d. an average business.
e. a profit producer.
Ans: E 125. The GE business screen is an expansion of the ideas from
Page: 256 a. the product life cycle approach.
Type: Def b. the Miles and Snow typology of business strategy.
LO: 6 c. the generic strategy approach.
AACSB: A d. Porter’s competitive strategies.
e. the BCG matrix.
Ans: C 126. MNCs can exploit advantages over domestic businesses. Which of
Page: 258 the following in NOT an advantage?
Type: Def a. Location efficiencies
LO: 7 b. Economies of scope
AACSB: A c. Multiple accounting systems
d. Multi-market flexibility
e. Worldwide learning
Ans: E 127. Which of the following is NOT an international business strategy?
Page: 260 a. Home replication
Type: Def b. Transnational
LO: 7 c. Multi-domestic
AACSB: A d. Global
e. Intercontinental

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 Chapter 8: Managing Strategy and Strategic Planning 193

COMPLETION QUESTIONS
Ans: Strategic 128. _____ is a way of approaching business opportunities and challenges.
management
Page: 237
LO: 1
AACSB: A
Ans: range 129. Scope applied to strategy is the ______ of markets in which an
Page: 237 organization will compete.
LO: 1
AACSB: A
Ans: distinctive 130. The advantage one company enjoys over another in the marketplace
competence arises from the strategy component known as _____.
Page: 237
LO: 1
AACSB: A
Ans: resource 131. Phillip Morris uses profits from operations outside the U.S. to invest
deployment in new businesses. This is an example of _____.
Page: 237
LO: 1
AACSB: R
Ans: corporate-level 132. The business-level strategy is more focused than the _____ strategy.
Page: 238
LO: 1
AACSB: A
Ans: business 133. GE has a ______ -level strategy for the NBC Universal SBU.
Page: 238
LO: 1
AACSB: R
Ans: operationalized 134. Strategy implementation is the methods by which strategies are
Page: 238 _____.
LO: 1
AACSB: A
Ans: deliberate 135. A(n) _____ strategy is a plan chosen and implemented to support
Page: 238 specific goals.
LO: 1
AACSB: A
Ans: emergent 136. A(n) _____ strategy is one that develops over time in the absence of
Page: 238 missions or goals.
LO: 1
AACSB: A
Ans: strengths 137. Organizational _____ are skills and capabilities that enable an
Page: 239 organization to conceive of and implement its strategies.
LO: 2
AACSB: A
Ans: Strategic imitation 138. ______ is the practice of duplicating another organization’s
Page: 240 distinctive competence and thereby implementing a valuable strategy.
LO: 2
AACSB: A

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194 Chapter 8: Managing Strategy and Strategic Planning

Ans: Common strength 139. ______ is a skill or capability held by numerous competing firms.
Page: 241
LO: 2
AACSB: A
Ans: threat 140. Organizational _____ are areas that increase the difficulty of an
Page: 241 organization’s performing at a high level.
LO: 2
AACSB: A
Ans: focus 141. HealthTex aims its advertising at mothers with children under the age
Page: 245 of five. This generic strategy is called a _____ strategy.
LO: 3
AACSB: R
Ans: Overall cost 142. ______ is a strategy in which an organization attempts to gain a
leadership competitive advantage by reducing its costs below the costs of
Page: 244 competing firms.
LO: 3
AACSB: A
Ans: prospector 143. According to the Miles and Snow typology, organizations need to
Page: 245 implement a(n) _____ strategy to encourage creativity and flexibility.
LO: 3
AACSB: A
Ans: analyzer 144. According to the Miles and Snow typology, the _____ strategy take a
Page: 246 mid-range approach and attempts to move into new market areas at a
LO: 3 deliberate and carefully planned pace.
AACSB: A
Ans: reactor 145. In the Miles and Snow typology, the _____ strategy has no consistent
Page: 246 strategic approach.
LO: 3
AACSB: A
Ans: product life cycle 146. The _____ is a useful framework for recognizing that strategies need
Page: 246 to evolve over time.
LO: 3
AACSB: RA
Ans: introduction 147. In the _____ stage of the product life cycle, demand may be very
Page: 247 high and sometimes outpaces the firm’s ability to supply the product.
LO: 3
AACSB: A
Ans: focus 148. Pampered Chef sells kitchen supplies through direct home sales.
Page: 245 They are applying the generic strategy known as _____.
LO: 3
AACSB: R
Ans: cost leadership 149. The culture of organizations that implement _____ strategies tends to
Page: 249 focus on improving the efficiency of operating functions.
LO: 4
AACSB: A
Ans: Strategic business 150. _____ are businesses in a large organization that are grouped based
units on market or industry.
Page: 250
LO: 5
AACSB: A

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 Chapter 8: Managing Strategy and Strategic Planning 195

Ans: related 151. Virtually all large businesses in the United States use ______.
diversification
Page: 251
LO: 5
AACSB: A
Ans: Unrelated 152. _____ usually does not lead to high performance.
diversification
Page: 252
LO: 5
AACSB: A
Ans: synergy 153. Managers at Amtech, Inc. decided to reduce stock dividends for two
Page: 252 years and put the money into purchasing a small competitor that has
LO: 6 an excellent R&D division. When combined with Amtech’s
AACSB: R production facilities, the R&D division will give the firm a big
competitive advantage in the industry. This enhanced position is the
result of the _____ created by related diversification.

Ans: unrelated 154. The Trump Organization operates real estate, casinos, The Miss USA
Page: 252 pageant and The Apprentice television show. It has _____
LO: 5 diversification.
AACSB: R
Ans: forward 155. An organization that stops selling to one customer and sells instead to
Page: 254 the customer’s customer has diversified through ____ vertical
LO: 6 integration.
AACSB: A
Ans: merger 156. A ______ is the purchase of one firm by another firm of
Page: 254 approximately the same size.
LO: 6
AACSB: A
Ans: Portfolio 157. _____ are methods that diversified organizations use to determine
management which businesses to engage in and how to manage these businesses to
techniques maximize corporate performance.
Page: 255
LO: 6
AACSB: A
Ans: growth rate 158. In the BCG matrix, businesses are classified on the basis of the share
Page: 255 of the market they hold and the _____ of that market.
LO: 6
AACSB: A
Ans: dogs 159. According to the BCG matrix, _____ are businesses whose products
Page: 256 have a low share of a declining or stable market.
LO: 6
AACSB: A
Ans: cash cows 160. According to the BCG matrix, _____ are businesses that have a high
Page: 255 share of a stable market.
LO: 6
AACSB: A

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196 Chapter 8: Managing Strategy and Strategic Planning

Ans: BCG matrix, GE 161. Because the ______ is relatively simplistic, the ______ is a more
Business Screen sophisticated approach to managing diversified business units.
Page: 256
LO: 6
AACSB: A
Ans: location efficiencies 162. International firms can capture ______ by locating their facilities
Page: 258 anywhere in the world that yields them the lowest production or
LO: 7 distribution costs or that best improves the quality of service they
AACSB: A offer their customers.

Ans: Home replication 163. _____ is an international strategy in which the company uses the core
Page: 261 competency it developed at home as its main competitive weapon in
LO: 7 the foreign markets that it enters.
AACSB: A

MATCHING QUESTIONS
Match the following numbered items with the most correct response letter. You may use a response once, more
than once, or not at all.
164. _____ Range of markets in which the a. Distinctive competence
organization will compete
b. Resource deployment
165. _____ How the organization will use its
c. Scope
people, money, etc.
d. Strategic management
166. _____ Something the organization is
very good at doing e. Synergy
167. _____ Results from different parts of the
organization enhancing each other
168. _____ Aimed at aligning the
organization with its environment
169. _____ How the organization distributes
its resources across various areas

170. _____ Pepsi has three divisions: soft a. Single-product strategy

drinks, juices and snacks.
b. Related diversification
171. _____ McDonald’s owns and franchises
c. Unrelated diversification
fast-food restaurants.
172. _____ Honda manufactures automobiles,
marine engines, lawnmowers, motorcycles,
and power generators.
173. _____ USAA provides insurance, mutual
funds, and banking.
174. _____ GE has divisions that produce
light bulbs, medical equipment, network
television, and financial services.
175. _____ Ebay owns its auction site, PayPal
and Skype.

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 Chapter 8: Managing Strategy and Strategic Planning 197

176. _____ Unrelated diversification a. Business-level strategy

177. _____ Analyzer b. Corporate-level strategy
178. _____ Defender c. International strategy
179. _____ Multi-domestic
180. _____ Single-product
181. _____ Differentiation
182. _____ Global
183. _____ Boston Consulting Group

184. _____ Miles and Snow prospector most a. Stars

closely resembles the BCG
b. Question mark
185. _____ Miles and Snow analyzer most
c. Cash cows
closely resembles the BCG
d. Dog
186. _____ Miles and Snow defender most
closely resembles the BCG
187. _____ Miles and Snow reactor most
closely resembles the BCG

SPECIAL EXERCISE
Electronic Arts (EA) is a video game producer. It makes games for just about any game console, handheld game,
PC, and cell phone. Sony makes games only for PlayStation platforms. Acclaim makes games primarily for
massive multiplayer online game downloads. EA has the following information to begin a SWOT analysis.
Determine whether each statement describes a strength, weakness, opportunity, or threat.
188. _____ Acclaim’s games are free a. Strength
downloads that are paid for with product
b. Weakness
endorsement fees for items within the game.
c. Opportunity
189. _____ Microsoft Xbox enables
downloadable games. d. Threat
190. _____ Grand Theft Auto, one of
gaming’s biggest successes, was developed by
a small company.
191. _____ Sony games cost less to make.
192. _____ Developing a new game at EA is a
huge risk because they are labor intensive and
success is not guaranteed.
193. _____ EA has strategic alliances with
movie studios to produce games around
popular movies.
194. _____ EA has cutting-edge effects and
graphics.
195. _____ Female gamers have few games
that appeal to them.
196. _____ EA is big enough it can acquire

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198 Chapter 8: Managing Strategy and Strategic Planning

small entrepreneurial companies.

ESSAY QUESTIONS
Page: 237 197. Describe the components of strategy.
LO: 1
AACSB: R
Page: 237 198. Managers at Quaker Oats made the decision to sell three of the four
LO: 1 firms that made up its specialty products division, namely, Joseph
AACSB: R Banks Clothiers, Eyelabs, and Brookstone, a purveyor of hard-to-find
hand tools. This decision was made not because the units were
unprofitable, but because they took a disproportionate amount of top
management time. The funds realized from the sale of these units
were then reinvested in businesses such as Mrs. Richardson’s
Toppings, Golden Grain, makers of Rice-a-Roni products, and other
firms more closely aligned with the food business, which had always
been the corporation’s major area of operations. Its management
believed that these new firms would enhance the effectiveness of
other portions of the organization. Identify each major component of
strategy that is relevant to this example. For each component, show
how Quaker’s managers addressed it.
Answer: Students should recognize that all three major components
were addressed.
a. Scope was addressed by choosing to get out of particular
markets and into others.
b. Resource deployment was addressed by shifting funds and
managerial talent to other areas.
c. Distinctive competence was addressed by doing the thing the
company knew best—competing in the food business.

Page: 238 199. What are the differences between strategy formulation and strategy
LO: 1 implementation?
AACSB: R
Page: 239-240 200. Write a SWOT analysis of your college or university.
LO: 2
AACSB: R
Page: 244-245 201. Briefly describe each of Porter’s competitive (generic) strategies, and
LO: 3 give an original example of how a firm might use each strategy.
AACSB: R
Page: 247-250 202. How will organizational culture affect business strategy
LO: 4 implementation?
AACSB: R
Page: 252-253 203. In reality, how do companies using unrelated diversification
LO: 5 strategies perform? Why?
AACSB: R
Page: 256-257 204. Briefly describe business portfolio analysis using the BCG matrix.
LO: 6
AACSB: R

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 Chapter 8: Managing Strategy and Strategic Planning 199

Page: 260-261 205. What are the similarities and differences between international and
LO: 7 domestic strategic planning?
AACSB: R

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Test Bank for Management, 10th Edition: Ricky W. Griffin

200 Chapter 8: Managing Strategy and Strategic Planning

ANSWERS TO MATCHING QUESTIONS

164. c
165. b
166. a
167. e
168. d
169. b
170. b
171. a
172. b
173. b
174. c
175. b
176. b
177. a
178. a
179. c
180. b
181. a
182. c
183. b
184. a
185. b
186. c
187. d

ANSWERS TO SPECIAL EXERCISE

188. d
189. d
190. d
191. d
192. b
193. a
194. a
195. c
196. a

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