Business Integration and Strategic Management Quiz

Question 1 (10 points)

An independent group of suppliers, such as farmers, gather to form a cooperative in order to sell their products to buyers directly, replacing their previous distributor. This is an example of

Question 1 options:

	threat of entry.
	threat of substitute products.
	backward integration.
	forward integration.

Question 2 (10 points)

The goal of strategic management is to:

Question 2 options:

	Achieve and maintain competitive advantage
	Achieve competitive advantage
	Eliminate competitive advantage
	Maintain competitive advantage

Question 3 (10 points)

Which of these requires a firm to establish annual objectives, devise policies, and allocate resources?

Question 3 options:

	Strategy formulation
	Strategy evaluation
	Strategy manipulation
	Strategy implementation

Question 4 (10 points)

Which of these involves comparing a firm against the best firms in the industry on a wide variety of performance-related criteria?

Question 4 options:

	Benchmarking
	Adaptation
	Competition base
	Development strategy

Question 5 (10 points)

According to Porter, what is usually the most powerful of the five competitive forces?

Question 5 options:

	Intensity of Rivalry among established firms
	Bargaining power of buyers
	Threat of substitutes
	Risk of entry by potential competitors
	Bargaining power of suppliers

Question 6 (10 points)

Technological advancements can create new ______ advantages that are more powerful than existing advantages.

Question 6 options:

	Differentiation
	Cost advantage
	Profit advantage
	Competitive

Question 7 (10 points)

The act of oversight and direction for an organization is referred to as

Question 7 options:

	Company Secretary
	Corporate social responsibility
	Company top management
	Corporate Governance

Question 8 (10 points)

What are the four types of resources that can be used to achieve desired objectives?

Question 8 options:

	financial, physical, Capital, technological.
	financial, physical, human and technological.
	Human, capital, R&D, technological, human

Question 9 (10 points)

Burger King opening its first restaurant in Japan is an example of which type of strategy?

Question 9 options:

	Market Development
	Diversification strategy
	Development strategy
	Promotion strategy

Question 10 (10 points)

Diversification into many unrelated areas is an example of:

Question 10 options:

	Risk management
	Uncertainty reduction
	Good management
	Sustainability