MGMT344 QUESTIONS AND ANSWERS A+ GRADED
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Which of the following is not part of how Mintzberg characterises strategy?
a) A firm's deliberately intended course of action
b) The pattern observable in a firm's actions over time
c) A firm's repeatable, systematic processes that enable it to function efficiently
d) A firm's position in relation to its market and macro environment
e) The perspective and mind-set of a firm's managers and employees
c) A firm's repeatable, systematic processes that enable it to function efficiently
Which of the following statements about boards of directors is false?
a) Board members are elected by shareholders
b) All directors are full-time employees of the company
c) The board can be held legally accountable for a company's actions
d) The board's audit committee bears ultimate responsibility for the company's
audited accounts
e) The board Chair can be the same individual as the Chief Executive.
b) All directors are full-time employees of the company
Strategy development in organisations has been characterised by scholars in all
of the following ways except:
a) An annualised strategic planning cycle
b) A set of political processes based on power dynamics between different
managers and units
c) A series of small but reasoned and logical decisions that move the
organisation in a direction over time
d) A staged process involving un-freezing, migrating to a new strategy, and re-
freezing
e) Structure and systems that have accumulated over time and have a profound
influence on strategic direction
d) A staged process involving un-freezing, migrating to a new strategy, and re-freezing
Which of the following is not amongst the widely-made criticisms of strategic
planning?
a) Its reliance on an annual cycle is too inflexible for rapidly evolving industries
b) It can be rather detached from operational realities across the business
c) It is not very strategic if it is mostly about an annual budgeting cycle
d) It leads firms to 'extinction by instinct', whereas 'paralysis by analysis' is
arguably better
e) If run rigidly and top down, it can have a stifling effect on innovation.
d) It leads firms to 'extinction by instinct', whereas 'paralysis by analysis' is arguably
better
A recently-established software-as-a-service firm retains the same board and
management team over a sustained period of growth. Which of the following
types of bias is not likely to affect their decisions?
a) Groupthink
b) Prior hypothesis bias
, c) Confirmation bias
d) Survivor bias
e) Managerial hubris
d) Survivor bias
The recent Tourism Holdings report triggered market sell-off of its shares as it
pointed to impediments to continued NZ tourism growth post-Covid. Which of the
following would not represent sensible advice to its management team?
a) It would be best to look beyond immediate developments in considering
impactful macro-level trends
b) When evaluating the impediments, it would be best to consider best and worst
rather than one central expectation
c) Given the recency of the Covid crisis, it is imperative to consider this and other
pandemics as potentially impactful
d) It should be wary of allowing short-term developments to undermine otherwise
sound businesses
e) It should be wary of unconscious bias towards business-as-usual leading to
rejection of pervasive trends.
c) Given the recency of the Covid crisis, it is imperative to consider this and other
pandemics as potentially impactful
In carrying out a 5-force competitive analysis on a traditional physical-premises
travel agency, which of the following would not be a sensible statement?
a) Entry barriers include the need to negotiate access to global back-end booking
systems
b) Bargaining power is low for corporate buyers, who are too busy to shop for
bargains
c) Buyers can use substitute services such as internet booking
d) Airlines as suppliers have been using their bargaining power to reduce agency
commissions
e) Rivalry has been mitigated over the last twenty years by industry
consolidation.
b) Bargaining power is low for corporate buyers, who are too busy to shop for bargains
Which of the following statements about rigorous use of Porter's 5-force
framework is correct?
a) A firm in the focal industry buys from its suppliers and supplies its buyers
b) Buyer power is always from the point of view of the final customer
c) Competitors should come from the same strategic group
d) Substitute products enable buyers to satisfy their needs from elsewhere in the
industry
e) Competition is typically fierce when there are few large competitors.
a) A firm in the focal industry buys from its suppliers and supplies its buyers
In evaluating the longer-term prospects for a promising but currently loss-making
'Fintech' firm, which of the following resources/capabilities would be appropriate
to evaluate as a potential source of sustained competitive advantage?
a) The total assets controlled by the firm, including physical and financial
b) The market capitalisation of the firm based on the price achieved when shares
were last issued
.Buy Quality Materials!
Which of the following is not part of how Mintzberg characterises strategy?
a) A firm's deliberately intended course of action
b) The pattern observable in a firm's actions over time
c) A firm's repeatable, systematic processes that enable it to function efficiently
d) A firm's position in relation to its market and macro environment
e) The perspective and mind-set of a firm's managers and employees
c) A firm's repeatable, systematic processes that enable it to function efficiently
Which of the following statements about boards of directors is false?
a) Board members are elected by shareholders
b) All directors are full-time employees of the company
c) The board can be held legally accountable for a company's actions
d) The board's audit committee bears ultimate responsibility for the company's
audited accounts
e) The board Chair can be the same individual as the Chief Executive.
b) All directors are full-time employees of the company
Strategy development in organisations has been characterised by scholars in all
of the following ways except:
a) An annualised strategic planning cycle
b) A set of political processes based on power dynamics between different
managers and units
c) A series of small but reasoned and logical decisions that move the
organisation in a direction over time
d) A staged process involving un-freezing, migrating to a new strategy, and re-
freezing
e) Structure and systems that have accumulated over time and have a profound
influence on strategic direction
d) A staged process involving un-freezing, migrating to a new strategy, and re-freezing
Which of the following is not amongst the widely-made criticisms of strategic
planning?
a) Its reliance on an annual cycle is too inflexible for rapidly evolving industries
b) It can be rather detached from operational realities across the business
c) It is not very strategic if it is mostly about an annual budgeting cycle
d) It leads firms to 'extinction by instinct', whereas 'paralysis by analysis' is
arguably better
e) If run rigidly and top down, it can have a stifling effect on innovation.
d) It leads firms to 'extinction by instinct', whereas 'paralysis by analysis' is arguably
better
A recently-established software-as-a-service firm retains the same board and
management team over a sustained period of growth. Which of the following
types of bias is not likely to affect their decisions?
a) Groupthink
b) Prior hypothesis bias
, c) Confirmation bias
d) Survivor bias
e) Managerial hubris
d) Survivor bias
The recent Tourism Holdings report triggered market sell-off of its shares as it
pointed to impediments to continued NZ tourism growth post-Covid. Which of the
following would not represent sensible advice to its management team?
a) It would be best to look beyond immediate developments in considering
impactful macro-level trends
b) When evaluating the impediments, it would be best to consider best and worst
rather than one central expectation
c) Given the recency of the Covid crisis, it is imperative to consider this and other
pandemics as potentially impactful
d) It should be wary of allowing short-term developments to undermine otherwise
sound businesses
e) It should be wary of unconscious bias towards business-as-usual leading to
rejection of pervasive trends.
c) Given the recency of the Covid crisis, it is imperative to consider this and other
pandemics as potentially impactful
In carrying out a 5-force competitive analysis on a traditional physical-premises
travel agency, which of the following would not be a sensible statement?
a) Entry barriers include the need to negotiate access to global back-end booking
systems
b) Bargaining power is low for corporate buyers, who are too busy to shop for
bargains
c) Buyers can use substitute services such as internet booking
d) Airlines as suppliers have been using their bargaining power to reduce agency
commissions
e) Rivalry has been mitigated over the last twenty years by industry
consolidation.
b) Bargaining power is low for corporate buyers, who are too busy to shop for bargains
Which of the following statements about rigorous use of Porter's 5-force
framework is correct?
a) A firm in the focal industry buys from its suppliers and supplies its buyers
b) Buyer power is always from the point of view of the final customer
c) Competitors should come from the same strategic group
d) Substitute products enable buyers to satisfy their needs from elsewhere in the
industry
e) Competition is typically fierce when there are few large competitors.
a) A firm in the focal industry buys from its suppliers and supplies its buyers
In evaluating the longer-term prospects for a promising but currently loss-making
'Fintech' firm, which of the following resources/capabilities would be appropriate
to evaluate as a potential source of sustained competitive advantage?
a) The total assets controlled by the firm, including physical and financial
b) The market capitalisation of the firm based on the price achieved when shares
were last issued
