Sunday, 24 October

2021, 4:02 PM
State Finished
Completed on Sunday, 24 October 2021, 5:27 PM
Time taken 1 hour 25 mins
Marks 18.00/35.00
Grade 10.29 out of 20.00 (51%)
Information

Flag question

Information text
PLEASE ANSWER ALL QUESTIONS

Question 1
Correct
Mark 1.00 out of 1.00

Flag question

Question text
Which of the following statements is TRUE about strategic management?

a.
Strategic management focuses ONLY on the employees of the organization

b.
Strategic management applies on the entire organization

c.
Strategic management focuses ONLY on top management of the organization

d.
Strategic management applies to the organization’s production department
Feedback
The correct answer is: Strategic management applies on the entire organization
Question 2
Incorrect
Mark 0.00 out of 1.00

Flag question

Question text
Which of the following BEST describes the term competitive advantage:

a.
When the business organization has an edge over its rivals

b.
When the business organization has enough intangible resources.

c.
When the business organization has multiple strengths

d.
When the business organization has gained increased efficiency.
Feedback
The correct answer is: When the business organization has an edge over its rivals

Question 3
Incorrect
Mark 0.00 out of 1.00

Flag question

Question text
DW Bakery is the only bakery in the Jamaican baking industry, which makes cassava bread
as it competitors make other types. The cassava bread is highly demanded by consumers in
Jamaica, which results in huge profits for DW Bakery. In this context DW Bakery has a:

a.
Competitive advantage
b.
Product differentiation

c.
Cost advantage

d.
Quality assurance system
Feedback
The correct answer is: Competitive advantage

Question 4
Incorrect
Mark 0.00 out of 1.00

Flag question

Question text
The marketing manager at BMC Bank has advised its general manager that there are several
fishermen in Westmoreland Jamaica, who are interested to acquire small loans to purchase
larger boats. This occurrence represents an _________________ for BMC Bank.

a.
Opportunity

b.
Weakness

c.
Core competence

d.
Organizational capability
Feedback
The correct answer is: Weakness

Question 5
Correct
Mark 1.00 out of 1.00
 Flag question

Question text
Which one of the following is at the core of strategic management?

a.
Choosing which organizational objectives to focus on

b.
Adapting the business organization to a changing external environment

c.
Choosing whether to make decisions autocratically or on the basis of participation

d.
Being alert for opportunities to change work responsibilities
Feedback
The correct answer is: Adapting the business organization to a changing external
environment

Question 6
Correct
Mark 1.00 out of 1.00

Flag question

Question text
Which of the following is TRUE about a firm’s strategy?

a.
It remains set in place longer than the mission and objectives

b.
Is usually conceived at a single time when managers sit down and work out a
comprehensive strategic plan for the next 3-5 years
c.
It generally forms over a period of time as events unfold

d.
Tends to be formed at the same time the mission is developed and objectives are
formulated
Feedback
The correct answer is: It generally forms over a period of time as events unfold

Question 7
Correct
Mark 1.00 out of 1.00

Flag question

Question text
BMC Bank has employees that can solve operational problems on their own in a timely
manner than employees in competing banks. This is an example of a __________.

a.
Core competence

b.
Weakness

c.
Organizational capability

d.
Opportunity
Feedback
The correct answer is: Core competence

Question 8
Correct
Mark 1.00 out of 1.00
 Flag question

Question text
James, a third-year student at ZD University uses the term stakeholder while talking
to her friend. Marie is referring to ____________.

a.
A person who is not associated with a business.

b.
A person who controls a business

c.
A person who buys the shares of a business.

d.
A person who is connected directly or indirectly to a business.

Feedback
Your answer is correct.
The correct answer is:
A person who is connected directly or indirectly to a business.

Question 9
Correct
Mark 1.00 out of 1.00

Flag question
 Question text
DLQ manufactures clothes of different sizes for adult men and women in Barbados.There
are parents in Trinidad who have requested DLQ to manufacture clothes for their children.
DLQ’s production manager has assured DQL’s marketing manager that the firm can do this
given the technology it possesses. The assurance given by DQL’s marketing manager is an
example of

a.
A core competence

b.
An organizational weakness

c.
An organizational strength

d.
An organizational capability
Feedback
The correct answer is: An organizational capability

Question 10
Correct
Mark 1.00 out of 1.00

Flag question

Question text
The management team at BMC Bank has creating annual strategic plans since its inception.
At the end of one particular year, the bank failed to make a profit. The general manager
remarked that nothing was wrong with planning for the future because we always get a
sense of direction. The general manager’s remark represents __________ of Strategic
Management.

a.
A disadvantage

b.
A advantage
c.
A myth

d.
Alimitation
Feedback
The correct answer is: A advantage
Information

Flag question

Information text
Read the Case and Answer the Questions That Follow
KL Shoes is a new manufacturing firm in the US shoe making industry and sells shoes to
buyers in the US. Prior to commencing operations, a hired strategist advised its owners to
first create a set of guiding tools to take the business from where it is now to where it wants
to be in future years. The strategist pointed out that this initiative must entail a well-crafted
series of proposed actions. According to the strategist, the representatives from the
business must come together to decide these proposed actions. However, the strategist
cautioned that after these proposed actions have been put into effect, the representatives
must monitor what is happening in the industry at the same time.

Question 11
Correct
Mark 1.00 out of 1.00

Flag question

Question text
In relation to the case scenario, what conclusion can be drawn about strategic
management ? (KL Shoes Case)

a.
It is an evolving process

b.
It is practical and not conceptual

c.
It is static process

d.
Its success depends on employees only
Feedback
The correct answer is: It is an evolving process

Question 12
Incorrect
Mark 0.00 out of 1.00

Flag question

Question text
Which of the following WOULD NOT be a guiding tool that the strategist was referring to in
the scenario ? (KL Shoes Case)

a.
A mission

b.
A philosophy

c.
An industry report

d.
A vision
Feedback
The correct answer is: An industry report

Question 13
Correct
Mark 1.00 out of 1.00
 Flag question

Question text
If KL Shoes adopts the proposed series of actions, they would become it is a ___________ (KL
Shoes Case).

a.
Mission

b.
Decision

c.
Vision

d.
Strategy
Feedback
The correct answer is: Strategy

Question 14
Incorrect
Mark 0.00 out of 1.00

Flag question

Question text
Which of the following tools could the representatives use to monitor what was happening
in the industry effectively? (KL Shoes Case)

a.
SWOT analysis

b.
Industry analysis
c.
Balance score card

d.
Competitor analysis
Feedback
The correct answer is: SWOT analysis

Question 15
Correct
Mark 1.00 out of 1.00

Flag question

Question text
Which of the following could become an issue when the representatives meet to establish
the proposed series of actions? (KL Shoes Case)

a.
Where else can KL Shoes sell shoes other than in the US

b.
What price should KL Shoes ask for shoes that it is selling

c.
What resources does KL have to execute its chosen strategy

d.
What kind of shoes should KL Shoes make
Feedback
The correct answer is: What resources does KL have to execute its chosen strategy

Question 16
Correct
Mark 1.00 out of 1.00
 Flag question

Question text
To monitor what is happening in the industry after the proposed series of actions were
putinto effect, the representative would have to perform ______________. (KL Shoes Case)

a.
Strategy implementation

b.
Strategy formulation

c.
A stakeholder analysis

d.
Environmental scanning
Feedback
The correct answer is: Environmental scanning

Question 17
Correct
Mark 1.00 out of 1.00

Flag question

Question text
The representatives from the business coming together to decide the proposed series of
actions as recommended by the strategist would be all of the following EXCEPT (KL Shoes
Case)

a.
Employees

b.
Shareholders

c.
Government

d.
Board of directors
Feedback
The correct answer is: Government

Question 18
Correct
Mark 1.00 out of 1.00

Flag question

Question text
The strategist cautioned the representatives to monitor what was happening in the industry
for the following reasons EXCEPT (KL Shoes Case)

a.
Because KL Shoes ‘s employees may become demotivated if not given rewards

b.
Because external harmful conditions could undermine KL Shoes operations

c.
Because some of its competitors may stop producing shoes

d.
Because buyers of shoes in the US may lose their jobs if employed
Feedback
The correct answer is: Because KL Shoes ‘s employees may become demotivated if not given
rewards

Question 19
Incorrect
Mark 0.00 out of 1.00
 Flag question

Question text
Which characteristic of Strategic Management differentiates it from other fields of
management?

a.
It is concerned with a firm’s current direction

b.
It is multi-disciplinary

c.
It focuses on internal aspects of a firm

d.
It focuses on external aspects of a firm
Feedback
The correct answer is: It is concerned with a firm’s current direction
Information

Flag question

Information text
PLEASE READ THE CASE SCENARIO
Please answer ALL questions in this section.
Dambo Flavoured Water, located in Northern St. Andrew in Jamaica has been manufacturing
its products since 2016. The firm has more 250 employees and owns four springs, which
provides it with natural water. The manufacturing facility is located in a community with
more than 4,000 residents. Some residents do not support the existence of Dambo
Flavoured Water because of its unfair treatment to employees and negative attitude to
aspects of the local natural environment when extracting water from its springs based on
written directives from board of directors.
 
One of the challenges that Dambo Flavoured Water has is that some of the residents who
are its customers are contemplating whether to stop consuming it products. One thing that
Dambo Flaoured Water lacks is a values statement.

Question 20
Incorrect
Mark 0.00 out of 1.00

Flag question

Question text
The various organizational routines and processes that determine how efficiently and
effectively the organization transforms its inputs into outputs are called:

a.
Core competencies.

b.
Strengths.

c.
Capabilities.

d.
Customer value.
Feedback
The correct answer is: Capabilities.

Question 21
Incorrect
Mark 0.00 out of 1.00

Flag question
 Question text
According to the stakeholder approach, the residents have a right to express their concerns
to Dambo Flavoured Water because they are ____________.

a.
Observers

b.
Negotiators

c.
Claimants

d.
Wtchdogs
Feedback
The correct answer is: Claimants

Question 22
Incorrect
Mark 0.00 out of 1.00

Flag question

Question text
If Dambo Flavoured Water addresses the residents’ concerns, this act would be an example
of
¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬
¬¬¬¬¬¬¬¬¬¬¬__________________.

a.
Social corporate responsibility

b.
Economic social responsibility

c.
Ethical social responsibility
d.
Legal social responsibility
Feedback
The correct answer is: Economic social responsibility

Question 23
Incorrect
Mark 0.00 out of 1.00

Flag question

Question text
It is important for Dambo Flavoured Water to address the concerns of the residents because
failure to do so might result in the following EXCEPT:

a.
Shareholders firing management

b.
The pursuit of legal action

c.
A lack of support for its strategy

d.
Gaining a negative public image
Feedback
The correct answer is: Gaining a negative public image

Question 24
Correct
Mark 1.00 out of 1.00

Flag question

Question text
Mr. James a university lecturer has advised his students that when hired as top level
managers they should have two strategies to support a corporate strategy. These are
_________ and _______.

a.
functional strategy

b.
employee strategy

c.
business strategy

d.
product strategy
Feedback
The correct answer is: functional strategy

Question 25
Incorrect
Mark 0.00 out of 1.00

Flag question

Question text
Assuming that Dambo Flavoured Water decides to construct a new health centre for the
residents, this would be an example of ____________ corporate social responsibility.

a.
Ethical

b.
Discretionary

c.
Legal

d.
Economic
 Feedback
The correct answer is: Ethical

Question 26
Incorrect
Mark 0.00 out of 1.00

Flag question

Question text
John Myers who is the CEO at M & M Finance Ltd. is suited to play a role in crafting the
organization’s ________ and ________.

a.
Business strategy

b.
Corporate strategy

c.
Tactical strategy

d.
Functional strategy
Feedback
The correct answer is: Tactical strategy

Question 27
Correct
Mark 1.00 out of 1.00

Flag question

Question text
What could Dambo Flavoured Water do to address its negative attitude to local aspects of
natural environment?
a.
Create a values statement with a focus on care for the natural environment

b.
Incorporate environmental best practices in its operational procedures

c.
Assure residents that it will address their immediate concerns

d.
Stop extracting water from the four springs
Feedback
The correct answer is: Incorporate environmental best practices in its operational
procedures

Question 28
Incorrect
Mark 0.00 out of 1.00

Flag question

Question text
The residents in the case scenario would be an example of which stakeholder?(Dambo
Flavoured Water Case)

a.
Shareholders

b.
Creditors

c.
Rights groups

d.
General public
Feedback
The correct answer is: Creditors
Question 29
Correct
Mark 1.00 out of 1.00

Flag question

Question text
Mark, a shareholder of Inland Car Rentals has declared to his colleagues that the business
entity has a competitive advantage over its competitors. Mark could be making this
declaration because he thinks that the company has

a.
Services of greater quality than its competitors

b.
A higher level of sales than its competitors

c.
A greater level of efficiency than its competitors

d.
More talented and skill employees than its competitors
Feedback
The correct answer is: A greater level of efficiency than its competitors

Question 30
Incorrect
Mark 0.00 out of 1.00

Flag question

Question text
The residents belong to Dambo Flavoured Water’s _________ environment.

a.
Macro-
b.
Remote

c.
Micro-

d.
Internal
Feedback
The correct answer is: Internal
Information

Flag question

Information text
Please read the scenario below and answer ALL questions in this section
National Bakery is one of the bakeries in Jamaica that sells baked products to Jamaican
based customers. Although there are bakeries in Haiti, which offer baked products to
consumers there, National Bakery is thinking about selling it products in that country.

Question 31
Incorrect
Mark 0.00 out of 1.00

Flag question

Question text
Assuming that National Bakery wishes to enter the Haitian market, a tool that it could use to
identify threats in the Haitian business environment is an industry analysis.

a.
True

b.
False
Feedback
The correct answer is: False

Question 32
Correct
Mark 1.00 out of 1.00

Flag question

Question text
Assuming that some of suppliers of raw materials in the baking industry in Haiti also go out
of business after the entry of National Bakery in the Haitian market. This situation will give
the remaining suppliers less bargaining power.

a.
True

b.
False
Feedback
The correct answer is: False

Question 33
Incorrect
Mark 0.00 out of 1.00

Flag question

Question text
Assuming that shortly after National Bakery enters the Haitian market, some of its
competitors then go out of business. This situation would be a strength of National Bakery.

a.
False

b.
True
Feedback
The correct answer is: False

Question 34
Correct
Mark 1.00 out of 1.00

Flag question

Question text
A tool that National Bakery could use to assess ONLY the capabilities of other bakeries in
Haiti is a competitor analysis.

Select one:
True 
False
Feedback
The correct answer is 'True'.

Question 35
Incorrect
Mark 0.00 out of 1.00

Flag question

Question text
A tool that National Bakery could use to determine if it would be profitable to compete
against other bakeries in Haiti is a SWOT analysis.

a.
False

b.
True
 Feedback
The correct answer is: False
Information

Flag question

Information text
END OF ASSESSMENT