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1 reduces transaction costs and builds quality because the purchaser and supplier wo 5131851

1. ________ reduces transaction costs and builds quality because the purchaser and supplier work together as partners; whereas in a(n) ________, two suppliers are the sole suppliers of two different parts.

A. Outsourcing; offshoring

B. Sole sourcing; parallel sourcing

C. Multiple sourcing; offshoring

D. Offshoring; multiple sourcing

E. Outsourcing; multiple sourcing

2. A strategic manager implements a(n) ________ strategy to gain a competitive advantage in the marketplace when he or she focuses on the flow of products into and out of the manufacturing process.

A. logistics

B. purchasing

C. financial

D. operations

E. R&D

3. All of the following are true about logistics strategies EXCEPT ________.

A. logistics strategy is the strategy employed to analyze corporate and business-level financial options in organizations that compete in the marketplace today

B. to gain logistical synergies from business units, strategic managers at corporations began to centralize logistics in the headquarters group

C. the trends related to a logistics strategy include centralization, outsourcing, and the use of the Internet

D. a strategic manager outsources logistics to reduce costs and improve delivery time

E. a strategic manager can form centralized logistic groups that contain specialists in different transportation modes

4. All of the following are true statements about leveraged buyout (LBO) EXCEPT ________.

A. management of the leveraged buyout (LBO) is under tremendous pressure to keep the highly leveraged company profitable

B. the huge amount of debt on the acquired company books might actually cause its eventual decline by focusing management's attention on short-term matters

C. financial performance of a typical leveraged buyout (LBO) usually rises above the industry average in the fourth year after the leveraged buyout (LBO)

D. the debt is paid with money generated from the acquired company's operations or by sales of its assets

E. the acquired company pays for its own acquisition

5. All of the following are true statements about outsourcing EXCEPT ________.

A. there are many pros and cons to outsourcing with managers increasingly focusing on non-strategically critical parts of the business as categories for outsourcing.

B. outsourcing is the reverse of vertical integration.

C. outsourcing is purchasing a product or service externally that had been previously provided internally.

D. outsourcing is an activity or a function assigned to a wholly owned company or an independent provider in another country.

E. outsourcing is becoming an increasingly important part of the strategic decision-making discussion.

6. All of the following errors are examples of outsourcing errors that a strategic manager strives to avoid when an outsourcing strategy is an optimum solution EXCEPT________.

A. an error occurs in an outsourcing strategy when a strategic manager fails to keep core activities in-house

B. the vendor was not trustworthy or the vendor lacks state-of-the-art processes

C. companies failed to establish a balance of power in the relationship

D. qualified managers fail to manage the outsourced activity in the marketplace

E. an error occurs in an outsourcing strategy when a strategic manager plans a viable exit strategy

7. A(n) ________ strategy is a strategy to avoid that occurs when a strategic manager imitates the strategy of a competitor in the marketplace; whereas a strategic manager that implements ________ strategy achieves success when he or she pioneers a successful product and continues to search for another super product that will ensure the growth and prosperity in the organization.

A. hit another homerun; follow the leader

B. losing hand; follow the leader

C. follow the leader; hit another home run

D. arms race; do everything

E. do everything; losing hand

8. Which of the following is the philosophy that can be traced back to Plato, Aristotle, and Hegel that involves the combination of the two conflicting views, called “thesis” and “antithesis,” into a synthesis?

A. success

B. dialectical inquiry

C. mutual exclusivity

D. internal completeness

E. internal consistency

9. Strategic managers evaluate strategic alternatives to ensure they meet all of the following criteria EXCEPT ________.

A. mutual exclusivity

B. success

C. completeness

D. internal consistency

E. developing policies

10. All of the following are true statements about policy development EXCEPT ________.

A. strategic managers use policies because policies define the broad guidelines to implement strategies

B. effective policies force tradeoffs between competing resource demands

C. policies set unclear boundaries to the employees whereas policies grant the freedom to experiment with out-of-the box concepts within those corporate constraints

D. policies are effective because they test the strategic soundness of a particular action

E. policies provide guidance for decision making and actions throughout the corporation

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