Question 1

Research indicates that the use of work teams leads to decreased quality and productivity as well as lower employee satisfaction and commitment as a result of less accountability.

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Question 2

Penetration pricing attempts to hasten market development and offers the pioneer the opportunity to use the experience curve to gain market share with a low price and dominate the industry.

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Question 3

In a leveraged buyout,the acquired company,in effect,pays for its own acquisition.

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Question 4

An operations strategy determines how and where a product or service is to be manufactured,the level of vertical integration in the production process,the deployment of physical resources,and relationships with suppliers.

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Question 5

The orientation of the functional strategy is dictated by its parent business unit's strategy.

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Question 6

W.Edwards Deming,a well-known management consultant,strongly recommended sole sourcing as the only manageable way to obtain high supplier quality.

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Question 7

The use of the Internet to market goods directly to the customer allows a company to use dynamic pricing.

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Question 8

When Colgate-Palmolive and Unilever take a successful product that they marketed in one part of the world and market it elsewhere,they are following a market development strategy.

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Question 9

Using a market development strategy,a company can capture a larger share of an existing market for current products or develop new markets for current products.

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Question 10

An example of the use of the leader R&D functional strategy to achieve a differentiation competitive advantage is Nike Inc.

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Question 11

When the Kellogg Company changed to a push strategy,they spent more money on consumer advertising designed to build brand awareness so that shoppers will ask for the products.

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Question 12

The automobile industry is currently experimenting with the strategy of mass customization in which pre-assembled sub-assemblies are delivered as they are needed to a company's assembly line workers.

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Question 13

A financial strategy examines the financial implications of corporate and business-level strategic options and identifies the best financial course of action.

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Question 14

Logistics strategy deals with the flow of products into and out of the manufacturing process.

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Question 15

Equity financing is preferred for unrelated diversification while debt financing is preferred for related diversification.

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Question 16

Two suppliers are the sole suppliers of two different parts,but they are also backup suppliers for each other's parts in parallel sourcing.

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Question 17

A company,such as Church & Dwight,follows the market development strategy of developing new uses and/or markets for current products such as for its successful product: Arm & Hammer brand baking soda.

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Question 18

The continuous improvement system was developed by Deming.

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Question 19

A product development strategy deals with pricing,selling,and distributing a product.

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Question 20

Each business unit has its own set of departments,each with its own functional strategy.

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Quiz 8: Strategy Formulation: Functional Strategy and Strategic Choice