Test Bank for Strategic Management Concepts and Cases Competitiveness and Globalization 14e Michael
g g g g g g g g g g g g
Hitt, Duane Ireland, Robert Hoskisson, Jeffrey Harrison (All Chapters 100% Original Verified, A+ Grade)
g g g g g g g g g g g g g g
Chapter 01 - Strategic Management and Strategic Competitiveness
g g g g g g g
True / False g g
1. The difference between average and above-average returns is that average returns are returns that an investor expects to
g g g g g g g g g g g g g g g g g
earn from an investment as compared to other investments with similar stock prices, while above-average returns are in
g g g g g g g g g g g g g g g g g g
excess of expectations for similarly priced stocks.
g g g g g g g
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness g g g g g g g
QUESTION TYPE: True / False g g g
HAS VARIABLES: g False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive
g g g g g g g g
advantage, above-average returns, and the strategic management process. g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
g g g g g g g g g g g
KEYWORDS: Bloom's: Analyze g
DATE CREATED: g 4/19/2023 5:02 PM g g
DATE MODIFIED: g 4/19/2023 5:02 PM g g
2. Particularly when assessing investments in new venture firms, the most effective, and often the only, way to measure
g g g g g g g g g g g g g g g g g
the performance of the firms and determine their viability as an investment option is to examine financial metrics such
g g g g g g g g g g g g g g g g g g g
as returns on assets, and sales.
g g g g g g
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness g g g g g g g
QUESTION TYPE: True / False g g g
HAS VARIABLES: g False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive
g g g g g g g g
advantage, above-average returns, and the strategic management process. g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
g g g g g g g g g g g
KEYWORDS: Bloom's: Analyze g
DATE CREATED: g 4/19/2023 5:02 PM g g
DATE MODIFIED: g 4/19/2023 5:02 PM g g
3. Examples of incremental innovations include iPads, Wi-Fi, and the web browser.
g g g g g g g g g g
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 The Competitive Landscape g g g
Copyright gCengage gLearning. gPowered gby Page g1
gCognero.
,QUESTION TYPE: True / False g g g
HAS VARIABLES:
g False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
g g g g g g g g g g g
technological changes, and expectations of socially responsible behavior shape it.g g g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
g g g g g g g g g g g
KEYWORDS: Bloom's: Apply g
DATE CREATED: g 4/19/2023 5:02 PM g g
DATE MODIFIED: g 4/19/2023 5:02 PM g g
4. The I/O and resource-based models contain many of the same steps. One clear difference between the two models is
g g g g g g g g g g g g g g g g g g
the resource-based model starts by looking at the internal strengths and weaknesses of a firm, while the I/O model begins
g g g g g g g g g g g g g g g g g g g g
with an examination of the external environment. Another key difference is the resource-based model identifies an
g g g g g g g g g g g g g g g g
attractive industry much earlier in the process than does the I/O model.
g g g g g g g g g g g g
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-4 The Resource-Based Model of Above-Average Returns g g g g g g
QUESTION TYPE: True / False
g g g
HAS VARIABLES:
g False
LEARNING OBJECTIVES: SM.HITT.24.01.04 - Use the resource-based model to explain how firms can earn above-
g g g g g g g g g g g g g g
average returns. g g
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
g g g g g g g g g g g
KEYWORDS: Bloom's: Analyze g
DATE CREATED: g 4/19/2023 5:02 PM g g
DATE MODIFIED: g 4/19/2023 5:02 PM g g
Multiple Choice g
5. What has a firm achieved when it successfully formulates and implements a value-creating strategy?
g g g g g g g g g g g g g
a. Strategic competitiveness g
b. A permanently sustainable competitive advantage
g g g g
c. Substantial returns g
d. Legal and ethical core values g g g g
ANSWER: a
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness g g g g g g g
QUESTION TYPE: Multiple Choice
g g
HAS VARIABLES:
g False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive
g g g g g g g g
advantage, above-average returns, and the strategic management process. g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
g g g g g g g g g g g
KEYWORDS: Bloom's: Understand g
DATE CREATED: g 4/19/2023 5:02 PM g g
DATE MODIFIED: g 5/17/2023 4:21 PM g g
Copyright gCengage gLearning. gPowered gby Page g2
gCognero.
,6. The primary drivers of hypercompetition are
g g and g . g g g g
a. rising global socio-economic instability; increased inflation
g g g g g
b. the emergence of a global economy; rapid technological change
g g g g g g g g
c. increased global competition; decreased tariffs
g g g g
d. increased availability of capital; increased competition
g g g g g
ANSWER: b
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 The Competitive Landscape g g g
QUESTION TYPE: Multiple Choice
g g
HAS VARIABLES:
g False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
g g g g g g g g g g g
technological changes, and expectations of socially responsible behavior shape it.
g g g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
g g g g g g g g g g g
KEYWORDS: Bloom's: Remember g
DATE CREATED: g 4/19/2023 5:02 PM g g
DATE MODIFIED: g 5/15/2023 2:15 PM g g
7. All of the following are characteristics of the global economy EXCEPT:
g g g g g g g g g g
a. the increasing importance of emerging economies as sources of revenue growth.
g g g g g g g g g g
b. the free movement of goods, services, people, skills, and ideas across geographic borders.
g g g g g g g g g g g g
c. the increased use of tariffs to protect industries.
g g g g g g g
d. higher levels of opportunities and challenges in new geographic markets.
g g g g g g g g g
ANSWER: c
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 The Competitive Landscape g g g
QUESTION TYPE: Multiple Choice
g g
HAS VARIABLES:
g False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
g g g g g g g g g g g
technological changes, and expectations of socially responsible behavior shape it.
g g g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Diversity
g g g g g g
KEYWORDS: Bloom's: Understand g
DATE CREATED: g 4/19/2023 5:02 PM g g
DATE MODIFIED: g 4/19/2023 5:02 PM g g
8. The increasing economic interdependence among countries and their organizations as reflected in the flow of products,
g g g g g g g g g g g g g g g
financial capital, and knowledge across country borders is defined as
g g g g g g g g g g
a. hypercompetition.
b. boundaryless retailing. g
c. strategic intensity. g
d. globalization.
ANSWER: d
POINTS: 1
DIFFICULTY: Easy
Copyright gCengage gLearning. gPowered gby Page g3
gCognero.
, REFERENCES: 1-2 The Competitive Landscape g g g
QUESTION TYPE: Multiple Choice
g g
HAS VARIABLES:
g False
LEARNING OBJECTIVES:SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
g g g g g g g g g g g
technological changes, and expectations of socially responsible behavior shape it.
g g g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Diversity
g g g g g g
KEYWORDS: Bloom's: Understand g
DATE CREATED:
g 4/19/2023 5:02 PM g g
DATE MODIFIED:
g 5/17/2023 6:18 PM g g
9. New markets created by the technologies underlying the development of products such as iPads and Wi-Fi are a result
g g g g g g g g g g g g g g g g g g
of
g
a. disruptive technologies. g
b. global competition. g
c. knowledge intensity. g
d. hypercompetition.
ANSWER: a
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 The Competitive Landscape g g g
QUESTION TYPE: gMultiple Choice g
HAS VARIABLES:
g False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
g g g g g g g g g g g
technological changes, and expectations of socially responsible behavior shape it.
g g g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
g g g g g g g g g g g
KEYWORDS: Bloom's: Apply g
DATE CREATED:
g 4/19/2023 5:02 PM g g
DATE MODIFIED:
g 5/17/2023 4:22 PM g g
10. The CEO of Ridgeway, Inc., realizes that the company's survival depends on developing and acquiring knowledge.
g g g g g g g g g g g g g g g
Which of the following actions by the CEO would be MOST consistent with this need?
g g g g g g g g g g g g g g g
a. Ensuring that all current, unique knowledge of the firm is protected by patents
g g g g g g g g g g g g
b. Planning extensive employee training and hiring educated and experienced employees
g g g g g g g g g
c. Investing in sophisticated databases in relevant knowledge areas
g g g g g g g
d. Establishing a system of organizational intelligence gathering
g g g g g g
ANSWER: b
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 The Competitive Landscape g g g
QUESTION TYPE: g Multiple Choice g
HAS VARIABLES:
g False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
g g g g g g g g g g g
technological changes, and expectations of socially responsible behavior shape it.
g g g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
g g g g g g g g g g g
KEYWORDS: Bloom's: Apply g
DATE CREATED:
g 4/19/2023 5:02 PM g g
Copyright gCengage gLearning. gPowered gby Page g4
gCognero.
g g g g g g g g g g g g
Hitt, Duane Ireland, Robert Hoskisson, Jeffrey Harrison (All Chapters 100% Original Verified, A+ Grade)
g g g g g g g g g g g g g g
Chapter 01 - Strategic Management and Strategic Competitiveness
g g g g g g g
True / False g g
1. The difference between average and above-average returns is that average returns are returns that an investor expects to
g g g g g g g g g g g g g g g g g
earn from an investment as compared to other investments with similar stock prices, while above-average returns are in
g g g g g g g g g g g g g g g g g g
excess of expectations for similarly priced stocks.
g g g g g g g
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness g g g g g g g
QUESTION TYPE: True / False g g g
HAS VARIABLES: g False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive
g g g g g g g g
advantage, above-average returns, and the strategic management process. g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
g g g g g g g g g g g
KEYWORDS: Bloom's: Analyze g
DATE CREATED: g 4/19/2023 5:02 PM g g
DATE MODIFIED: g 4/19/2023 5:02 PM g g
2. Particularly when assessing investments in new venture firms, the most effective, and often the only, way to measure
g g g g g g g g g g g g g g g g g
the performance of the firms and determine their viability as an investment option is to examine financial metrics such
g g g g g g g g g g g g g g g g g g g
as returns on assets, and sales.
g g g g g g
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness g g g g g g g
QUESTION TYPE: True / False g g g
HAS VARIABLES: g False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive
g g g g g g g g
advantage, above-average returns, and the strategic management process. g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
g g g g g g g g g g g
KEYWORDS: Bloom's: Analyze g
DATE CREATED: g 4/19/2023 5:02 PM g g
DATE MODIFIED: g 4/19/2023 5:02 PM g g
3. Examples of incremental innovations include iPads, Wi-Fi, and the web browser.
g g g g g g g g g g
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 The Competitive Landscape g g g
Copyright gCengage gLearning. gPowered gby Page g1
gCognero.
,QUESTION TYPE: True / False g g g
HAS VARIABLES:
g False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
g g g g g g g g g g g
technological changes, and expectations of socially responsible behavior shape it.g g g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
g g g g g g g g g g g
KEYWORDS: Bloom's: Apply g
DATE CREATED: g 4/19/2023 5:02 PM g g
DATE MODIFIED: g 4/19/2023 5:02 PM g g
4. The I/O and resource-based models contain many of the same steps. One clear difference between the two models is
g g g g g g g g g g g g g g g g g g
the resource-based model starts by looking at the internal strengths and weaknesses of a firm, while the I/O model begins
g g g g g g g g g g g g g g g g g g g g
with an examination of the external environment. Another key difference is the resource-based model identifies an
g g g g g g g g g g g g g g g g
attractive industry much earlier in the process than does the I/O model.
g g g g g g g g g g g g
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-4 The Resource-Based Model of Above-Average Returns g g g g g g
QUESTION TYPE: True / False
g g g
HAS VARIABLES:
g False
LEARNING OBJECTIVES: SM.HITT.24.01.04 - Use the resource-based model to explain how firms can earn above-
g g g g g g g g g g g g g g
average returns. g g
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
g g g g g g g g g g g
KEYWORDS: Bloom's: Analyze g
DATE CREATED: g 4/19/2023 5:02 PM g g
DATE MODIFIED: g 4/19/2023 5:02 PM g g
Multiple Choice g
5. What has a firm achieved when it successfully formulates and implements a value-creating strategy?
g g g g g g g g g g g g g
a. Strategic competitiveness g
b. A permanently sustainable competitive advantage
g g g g
c. Substantial returns g
d. Legal and ethical core values g g g g
ANSWER: a
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-1 An Overview of Strategy and Strategic Competitiveness g g g g g g g
QUESTION TYPE: Multiple Choice
g g
HAS VARIABLES:
g False
LEARNING OBJECTIVES: SM.HITT.24.01.01 - Define strategic competitiveness, strategy, competitive
g g g g g g g g
advantage, above-average returns, and the strategic management process. g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
g g g g g g g g g g g
KEYWORDS: Bloom's: Understand g
DATE CREATED: g 4/19/2023 5:02 PM g g
DATE MODIFIED: g 5/17/2023 4:21 PM g g
Copyright gCengage gLearning. gPowered gby Page g2
gCognero.
,6. The primary drivers of hypercompetition are
g g and g . g g g g
a. rising global socio-economic instability; increased inflation
g g g g g
b. the emergence of a global economy; rapid technological change
g g g g g g g g
c. increased global competition; decreased tariffs
g g g g
d. increased availability of capital; increased competition
g g g g g
ANSWER: b
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 The Competitive Landscape g g g
QUESTION TYPE: Multiple Choice
g g
HAS VARIABLES:
g False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
g g g g g g g g g g g
technological changes, and expectations of socially responsible behavior shape it.
g g g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
g g g g g g g g g g g
KEYWORDS: Bloom's: Remember g
DATE CREATED: g 4/19/2023 5:02 PM g g
DATE MODIFIED: g 5/15/2023 2:15 PM g g
7. All of the following are characteristics of the global economy EXCEPT:
g g g g g g g g g g
a. the increasing importance of emerging economies as sources of revenue growth.
g g g g g g g g g g
b. the free movement of goods, services, people, skills, and ideas across geographic borders.
g g g g g g g g g g g g
c. the increased use of tariffs to protect industries.
g g g g g g g
d. higher levels of opportunities and challenges in new geographic markets.
g g g g g g g g g
ANSWER: c
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 The Competitive Landscape g g g
QUESTION TYPE: Multiple Choice
g g
HAS VARIABLES:
g False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
g g g g g g g g g g g
technological changes, and expectations of socially responsible behavior shape it.
g g g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Diversity
g g g g g g
KEYWORDS: Bloom's: Understand g
DATE CREATED: g 4/19/2023 5:02 PM g g
DATE MODIFIED: g 4/19/2023 5:02 PM g g
8. The increasing economic interdependence among countries and their organizations as reflected in the flow of products,
g g g g g g g g g g g g g g g
financial capital, and knowledge across country borders is defined as
g g g g g g g g g g
a. hypercompetition.
b. boundaryless retailing. g
c. strategic intensity. g
d. globalization.
ANSWER: d
POINTS: 1
DIFFICULTY: Easy
Copyright gCengage gLearning. gPowered gby Page g3
gCognero.
, REFERENCES: 1-2 The Competitive Landscape g g g
QUESTION TYPE: Multiple Choice
g g
HAS VARIABLES:
g False
LEARNING OBJECTIVES:SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
g g g g g g g g g g g
technological changes, and expectations of socially responsible behavior shape it.
g g g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Diversity
g g g g g g
KEYWORDS: Bloom's: Understand g
DATE CREATED:
g 4/19/2023 5:02 PM g g
DATE MODIFIED:
g 5/17/2023 6:18 PM g g
9. New markets created by the technologies underlying the development of products such as iPads and Wi-Fi are a result
g g g g g g g g g g g g g g g g g g
of
g
a. disruptive technologies. g
b. global competition. g
c. knowledge intensity. g
d. hypercompetition.
ANSWER: a
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 The Competitive Landscape g g g
QUESTION TYPE: gMultiple Choice g
HAS VARIABLES:
g False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
g g g g g g g g g g g
technological changes, and expectations of socially responsible behavior shape it.
g g g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
g g g g g g g g g g g
KEYWORDS: Bloom's: Apply g
DATE CREATED:
g 4/19/2023 5:02 PM g g
DATE MODIFIED:
g 5/17/2023 4:22 PM g g
10. The CEO of Ridgeway, Inc., realizes that the company's survival depends on developing and acquiring knowledge.
g g g g g g g g g g g g g g g
Which of the following actions by the CEO would be MOST consistent with this need?
g g g g g g g g g g g g g g g
a. Ensuring that all current, unique knowledge of the firm is protected by patents
g g g g g g g g g g g g
b. Planning extensive employee training and hiring educated and experienced employees
g g g g g g g g g
c. Investing in sophisticated databases in relevant knowledge areas
g g g g g g g
d. Establishing a system of organizational intelligence gathering
g g g g g g
ANSWER: b
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 The Competitive Landscape g g g
QUESTION TYPE: g Multiple Choice g
HAS VARIABLES:
g False
LEARNING OBJECTIVES: SM.HITT.24.01.02 - Describe the competitive landscape, and explain how globalization,
g g g g g g g g g g g
technological changes, and expectations of socially responsible behavior shape it.
g g g g g g g g g g
NATIONAL STANDARDS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
g g g g g g g g g g g
KEYWORDS: Bloom's: Apply g
DATE CREATED:
g 4/19/2023 5:02 PM g g
Copyright gCengage gLearning. gPowered gby Page g4
gCognero.
