华南理工大学企业战略管理(双语)考试题

华南理工大学企业战略管理（双语）期

末考试试题A答案

《企业战略管理（双语）》A卷

一、选择题（每题2分，共50分）

1. In formulating a strategy, management is, in effect saying

A) ”this is who we are and where we are headed.'’

B) ”this is the strategic plan we have for making money in our

particular line of business。”

C）"we intend to make these moves to outmaneuver our rivals。”

D) ”among all the paths we could have chosen, we have decided to

focus on these markets and customer needs, compete in this

fashion, allocate our resources and energies in these ways，

and use these particular approaches to doing business.”

E）"this is our vision of what our business will be like in the years to come。"

Answer： D Difficulty： Medium

2. In a single—business company， the strategy—making hierarchy consists of

A) business strategy and functional strategies。

B）business strategy， functional strategies, and operating strategies.

C) business strategy and operating strategy.

D) managerial strategy， business strategy， functional

strategies， and operating strategies.

E) corporate strategy， functional strategies， and operating

strategies。

Answer: B Difficulty: Medium

3。SWOT analysis is

A) a helpful tool for predicting whether the company’s value chain

is cost competitive.

B）simple tool for sizing up a comp any’s resource capabilities and deficiencies， its market opportunities， and the external

threats to its future well—being。

C) a helpful tool for evaluating whether a company is competitively

stronger than its closest rivals。

D) a helpful tool for benchmarking whether a firm's strategy is

closely matched to industry key success factors。

E) a helpful tool for identifying the reasons why a company is or

is not profitable。

Answer： B Difficulty: Easy

4. A company’s actual strategy is

A) mostly hidden to outside view and is known only to top—level

managers。

B）typically planned well in advance and usually deviates little from the planned set of actions and business approaches because

of the risks of making on—the-spot changes.

C) best delegated to th e company’s board of directors because of

their fiduciary responsibility， their ultimate responsibility

for the company’s well—being, and their strong business

expertise.

D）partly proactive and partly reactive to changing circumstances.

E) partly a function of the strategic vision, partly a function

of the target strategic and financial objectives， partly a

function of market opportunities， and partly a function of the

strategies being used by rival companies （particularly those

companies that are industry leaders）.

Answer: D Difficulty: Medium

5. Factors that cause the rivalry among competing sellers to be weak

include

A) low buyer switching costs。

B）rapid growth in buyer demand and high buyer costs to switch brands.

C) high costs of exiting the market as compared to the costs of

entering the market.

D) a set of competitors that are quite diverse in terms of their

strategies, objectives， and countries of origin.

E）conditions where it is customary for rivals to collaborate closely with both their suppliers and their customers。

Answer： B Difficulty: Medium

6。The competitive force of substitute products tends to be stronger in

a given market when

A）buyers are relatively comfortable with using substitutes and the costs to buyers of switching over to the substitutes are

low.

B) buyers view substitutes as likely to be in short supply from

time to time。

C) the quality and performance of the substitutes is well above

what buyers need to meet their requirements.

D）buyers have high psychic costs in severing existing brand relationships and establishing new ones。

E) when demand for the industry's product is not very price

sensitive.

Answer: A Difficulty： Medium

7。 Achieving a cost advantage over rivals entails

A）concentrating on a narrow portion of the value chain and abandoning all other activities that create costs。

B）being a first-mover in pursuing backward and forward integration and controlling as much of the value chain as

possible。

C) outmanaging rivals in controlling the cost drivers and finding

creative ways to cut cost—producing activities out of the value

chain.

D) being a heavy user of offensive strategies and a light user of

defensive strategies.

E）producing a standard product， redesigning the product infrequently, and having minimal advertising.

Answer: C Difficulty: Medium

8。 A company's strategic vision is best conceived as

A) a road map of a company's future—a picture of its destination

and management’s rationale for going there.

B）what business the company is presently in and why it does certain things in trying to please its customers。

C) management’s storyline of how it intends to make a profit with

the chosen strategy。

D) ”who we are and what we do。”

E）the general strategic outline of what the enterprise will need to do to outmaneuver rivals and achieve a competitive advantage.

Answer: A Difficulty: Easy

9。 Business strategy concerns

A）the actions and approaches crafted by management to produce successful performance in one specific line of business。

B）what business to be in and why

C) which of several business models to use in pursuing company

objectives。

D）which of several competitive advantages to put of the company's resources behind。

E）All of these。

Answer： A Difficulty： Easy

10。 A company attempting to be successful with a differentiation strategy has to

A) study buyer needs and behavior carefully to learn what buyers

consider important, what they think has value, and what they

are willing to pay for。

B) incorporate more differentiating features into its

product/service than rivals.

C）strive to raise buyer switching costs.

D) have a well-known and respected brand name image.

E）provide a top-of-the—line product to consumers.

Answer： A Difficulty: Medium

11。 Buyer bargaining power tends to be stronger when

A) buyers are large and can demand concessions when purchasing

large quantities。

B) buyers purchase the item frequently and are well—informed

about sellers’ products， prices, and costs.

C）the costs incurred by buyers in switching to competing brands or to substitute products are relatively low。

D) the products of rival sellers are weakly differentiated and

buyers have considerable discretion over whether and when they

purchase the product。

E）All of the above

Answer： E Difficulty: Easy

12. Crafting and executing strategy are top—priority managerial tasks

because

A) every company needs to be alert to the winds of change, new

opportunities, and threatening developments。

B) all company personnel, and especially senior executives, need

to know the answer to ”who are we and where are we headed?"

C) there is a compelling need for managers to proactively shape

how the company’s business will be conducted and because a

strategy—focused organization is more likely to be a stronger

bottom-line performer than an organization that views the tasks

of managing strategy as secondary。

D）without clear guidance as to what the company’s business model and strategic intent are, managerial decision—making is likely

to be rudderless。

E）they help communicate to shareholders and the entire investment community "what it is we are trying to do and to achieve.”

Answer: C Difficulty： Easy

13。The best strategic alliances

A) are highly selective， focusing on particular value chain

activities and on obtaining a particular competitive benefit。

B) are those whose objective is to speed next-generation products

to market more quickly。

C) aim at achieving greater supply chain efficiency.

D）strive to reduce the number of industry key success factors。

E）aim at raising the barriers to entry and insulating the partners against the impacts of the five competitive forces.

Answer: A Difficulty: Medium

14. Which one of the following is not part of a company’s

macroenvironment?

A) Conditions in the economy at large

B）Population demographics and societal values and lifestyles

C) Technological factors and governmental regulations and

legislation

D) Factors relating to competitive rivalry, a company's suppliers

and customers, and competition from substitute products

E) A company’s resource strengths and weaknesses， competencies,

and competitive capabilities

Answer: E Difficulty: Easy

15. The competitive approach of a firm pursuing a global strategy

A) entails little or no strategy coordination across countries.

B）usually involves cross-subsidizing the prices in those markets where there are significant country-to—country differences in

the product attributes that customers are most interested in。

C) is essentially the same in all country markets where it competes

but it may nonetheless allow for minor country—by-country

variations where necessary to satisfy buyers.

D) involves selling direct to buyers (usually via the company's

own sales force） to avoid having to establish networks of

wholesale/retail dealers in each country market.

E) involves having a wide and diverse lineup of products （models

and styles）, with the basic product attributes varying

according to buyer preferences in each country market。

Answer： C Difficulty： Easy

16。 The tests for evaluating the merits of one strategy over another and gauging how good a strategy is include：

A) the strategic fit test, the social responsibility test, and the

profitability test.

B) the integrated business model test， the competitive strength

test, and the profitability test

C）the goodness of fit test， the competitive advantage test, and the performance test.

D) the social responsibility test, the strategic intent test， and

the competitive strength test。

E）the opportunity—threat test， the ethical standards test, and the best strategy test.

Answer： C Difficulty: Medium

17。 The difference between a company's mission statement and the concept of a strategic vision is that

A) the mission explains why it is essential to make a profit，

whereas the strategic vision addresses what businesses to be

in to try to make a profit。

B) a mission statement typically concerns " what we do, why we are

here， and where are we now" whereas the focus of a strategic

vision is "where we are going and why.”

C) a mission deals with what to accomplish in terms of financial

performance whereas a strategic vision concerns what to

accomplish in terms of strategic performance。

D) a mission statement deals with ”where we are headed ” whereas

a strategic vision provides the critical answer to "how will

we get there？"

E）a mission is about what a company is already doing and a vision concerns what a company ought to do。

Answer： B Difficulty： Medium

18。The competitive threat that outsiders will enter a market is stronger when

A) the products of rival firms are weakly differentiated， buyers

have no strong preferences for the brands of existing producers，

and buyers exhibit low brand loyalties。

B）incumbents are unable or unwilling to fight vigorously to prevent a newcomer from gaining a market foothold。

C) a newcomer can expect to earn attractive profits.

D）there are interested entry candidates with sufficient expertise and resources to hurdle prevailing entry barriers。

E) All of these.

Answer： E Difficulty: Easy

19。 A company's strategy evolves over time as a consequence of

A) the need to keep strategy matched to changing market conditions

and changing customer needs and expectations。

B) the proactive efforts of company managers to fine-tune and

improve one or more pieces of the strategy.

C) new managerial priorities and changing managerial judgments

about what the best future course for the company is。

D) the need to respond to the actions and competitive moves of rival

firms.

E) All of these。

Answer: E Difficulty： Easy

20. A company strength can relate to

A）a skill or important expertise.

B）its human assets and intellectual capital.

C）an achievement or attribute that puts the company in a position of market advantage。

D) organization assets such as proprietary technology, patents，

quality control systems， a strong balance sheet,its

partnerships or alliances with other organizations having

expertise or capabilities that enhance its own competitiveness.

E) All of these。

Answer: E Difficulty: Easy

21。 The chief role of functional strategies is to

A）integrate the various operating—level strategies across the whole company into a unified whole。

B) define the mission and strategic intent of each functional area。

C）help specify the needed kinds of distinctive competencies and resource strengths.

D）add relevant detail to the hows of the overall business strategy and competitive approach and provide a game plan for managing

a particular activity in ways that support the overall business。

E) create compatible degrees of strategic intent among a

company’s business functions.

Answer： D Difficulty: Easy

22. Whether supplier—seller relationships in an industry represent a

strong or weak source of competitive pressure is a function of

A) whether the profits of suppliers are relatively high or low.

B) the number of suppliers and the number of sellers.

C）how aggressively rival sellers are maneuvering to form strategic alliances with each of the industry's major

suppliers.

D）whether suppliers can exercise sufficient bargaining power to influence the terms and conditions of supply in their favor and

the extent of seller-supplier collaboration in the industry。

E) whether the prices of the items being furnished by the suppliers

are rising or falling.

Answer： D Difficulty: Medium

23。A company’s value chain consists

A) the steps it goes through to convert its net income into value

for shareholders.

B）the primary activities it performs in creating value for its customers and the related support activities.

C) the series of steps it takes to get a product from the raw

materials stage into the hands of end—users。

D) the activities it performs in transforming its competencies

into distinctive competencies。

E）the company's efforts and actions to build sustainable competitive advantage。

Answer： B Difficulty: Medium

24。Generally, internal entry into a new business is more attractive than acquiring an existing firm in the targeted industry when

A) the costs associated with internal startup are less than the

costs of buying an existing company and there is ample time to

launch the new business from the ground up.

B）there will be positive effects on the entrant's other existing businesses.

C）the target industry is young， fragmented, and growing rapidly。

D）all of the potential acquisition candidates are losing money.

E) the target industry is comprised of several relatively large

and well-established firms.

Answer: A Difficulty: Medium

25。 Strategy—making is

A）primarily an individual responsibility rather than a group task。

B) more of a collaborative group effort （that involves， to some

degree, all managers and sometimes key employees) as opposed

to being a function of a few high—level executives.

C) first and foremost the function of a company's strategic

planning staff。

D) first and foremost the function and responsibility of a

company's board of directors。

E）first and foremost the function and responsibility of a company's chief executive officer.

Answer： B Difficulty: Medium

二、简答题（每题8分，共40分）

1。 Draw and briefly describe the five forces model of competition.

参考答案：

（1）潜在进入者的威胁；

（2）供应商讨价还价的权力；

（3）顾客讨价还价的权力；

（4）替代产品的威胁；

(5)行业内部竞争的特点。

2。 Explain the benefits of a strategy of related diversification.

参考答案：

（1）可以使一个公司从技术转移、降低成本和共用品牌名中获得竞争优势；(2）增强竞争能力,同时（或者）在公司比较宽阔的行业范围内分散投资者的风险;

（3）不同行业之间存在的相关性为公司管理多元化行业组合提供了明确的聚集点和一种跨越不同行业的适度的战略统一性。

3。 Draw a typical company value chain， including the primary activities and the related support activities。

参考答案：

（1)基础价值活动包括内部后勤、生产作业、外部后勤、市场营销和服务；

（2）辅助价值活动包括采购、技术开发、人力资源管理和企业基础设施(包括：基础管理、发展战略、计划、财务、质量保证等），辅助活动贯穿于企业价值链的全过程，它与基本活动一起形成企业完整的价值链。

4. What are the typical reasons for pursuing mergers and acquisitions？参考答案:

（1）获得更大市场份额，形成更高效率运转的公司

（2）扩大公司的地理覆盖区域

（3）扩张公司的业务,推出新产品或者扩展国际市场

（4）快速获得新技术并且避免耗时的研发

（5）进入新行业

5。 What are the five phases of the strategy-making, strategy—executing process and what does each one involve？

参考答案：

制定和执行公司战略的管理过程由5个相关、完整的阶段组成:

（1）建立企业的战略愿景和宗旨，形成公司需要朝什么方向发展的战略远见。

(2)设立目标，将战略远见转变成公司要实现的明确绩效目标.

（3)制定实现目标的战略，然后让公司朝它想去的方向发展.

（4）贯彻执行所选择的战略,讲求效果和效率。

（5）评估绩效，并根据实际经历，变化的环境,新思想和新机会,在远见、长期方向、目标、战略或执行方面主动进行调整.

三、论述题（共10分）

Explain why a company's strategy cannot be planned out in advance. Why do company strategies evolve?

参考答案:

（1）未来商业环境的不确定性和无法预期性阻碍了公司管理者事先策划每个必须的战略行动。公司战略的一部分总是在不确定中(on the fly）得到发

展.

（2）构思一个战略不仅涉及到事先把一个广泛的战略意图（intended strategy）缝合在一起，还要随着事件的开展和围绕公司环境的变化先修改一条，然

后修改其他条(适应性/反应性战略）（adaptive/reactive strategy）.

即,公司的实际战略管理过程是管理者随着环境指令，以及管理者从经验

中学习，试图改进的塑造与再塑造过程。

(3）变化的环境要求公司战略随着时间变化进行演变与推进，因此公司战略管理就成为不断前进的过程，而不是对某一次事件的反应。