91) Which of the following maintains the ultimate
responsibility for strategy within an organization?
A) senior management
B) employee teams
C) lower-level managers
D) mid-level executives

92) Business-level and corporate-level strategies are least
likely to share which of the following elements?
A) breadth of focus
B) focus on quality and efficiency
C) focus on cash flow maximization
D) focus on profit maximization

93) Which type of firm would most likely use corporate-level
strategies?
A) firms that choose to compete in an attractive industry
B) firms that compete in only a single business or market
segment
C) firms that compete in many diversified or unrelated businesses
and industries
D) firms that possess superior capabilities

94) Which of the following describes the most appropriate use
of business-level strategies?
A) pursuing opportunities within a specific business
B) managing diversified businesses
C) outsourcing production to overseas divisions
D) competing in hypercompetitive markets

95) A conglomerate is best described as ________.
A) a business that is not diversified
B) a highly diversified business that does not fit into one
specific category
C) a business that sells only one product
D) a business that fits into a specific market or industry
category

96) The strategic management process features all of the
following components EXCEPT:
A) Vision and mission
B) Specific tactics
C) Internal and external analysis
D) Strategic leadership

97) A strategy can most accurately be defined as:
A) The coordinated means by which an organization pursues its
goals
B) How vision, goals, and objectives are put into analysis
C) Making the tradeoff decisions that allow the business to
make the best of the future
D) Developing insights into business situations as they occur

98) Which of the following best describes decisions that
companies must make in regards to business-level strategy?
A) What strategies are used by the business in various
industries
B) Which industries the corporation will be in
C) How the company will achieve its objectives today and
tomorrow
D) How to enter and leave an industry

100) Wal-Mart diversified into multiple businesses due to which
of the following factors:
A) Cooperating with suppliers of technology
B) Increase in foot traffic
C) Increased industry awareness
D) Increased specialization in the retail industry