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21.When you’re a bike-lock maker whose slogan is “Tough World, Tough Locks,” it doesn’t get much tougher than finding out that most of the locks you’ve been making for the last 30 years can be picked with a Bic pen. That, sadly, is what happened to Ingersoll-Rand subsidiary Kryptonite, after bloggers begin posting videos showing just how easy it is to pop open the company’s U-shaped locks. A spokeswoman for the company said that the locks nonetheless provide “an effective deterrent against theft.”  This reluctance to change how the lock was made is known as:

a.competitive dissonance

b.strategic apathy

c.competitive inertia

d.strategic inertia

e.competitive apathy

22.Revlon was once the world’s biggest cosmetics company. But over the past few years, its brands have lost sales and struggled through a series of management setbacks, but still it was reluctant to give up policies that were no longer operational.  For example, its top management wanted to manage such minutiae as whether a lipstick perfectly matched a nail polish. Revlon was experiencing:

a.competitive dissonance

b.strategic apathy

c.competitive inertia

d.strategic inertia

e.competitive apathy

23.Abercrombie & Fitch paid $50 million to settle claims that it discriminated against minorities in hiring salespeople for its “all-American” line of clothing.  This policy was an example of an:

a.strength

b.weakness

c.threat

d.opportunity

e.none of these

24.U.S. residents accounted for over 75 percent of cruise ship passengers, and U.S. ports had 8 million passengers leaving on cruises in 2004.  The growth in cruise travel was phenomenal after the terrorist attacks on September 11, 2001.  According to a situational analysis, this event created an _____ for the industry.

a.internal strength

b.internal weakness

c.internal threat

d.external weakness

e.external opportunity

25.According to the What Really Works, “Strategy Making for Firms, Big and Small,” the strategy-making process:

a.is done more frequently by smaller companies than by larger ones

b.can benefit both small and large companies

c.is done annually at the beginning of each fiscal year

d.can only benefit large companies

e.only examines the external environment

26.An organization is experiencing __________ when it is reluctant to change strategies or competitive practices that have been successful in the past.

a.strategic dissonance

b.strategic inertia

c.competitive dissonance

d.competitive inertia

e.sustained competitive disarray

27.One of the reasons why the highly fragmented chemical industry in Europe has experienced decreasing profits is due to an industry reluctance to change the way it conducts business—especially in how it competes against the lower-priced U.S. imports.  This is an example of:

a.competitive dissonance

b.strategic apathy

c.competitive inertia

d.strategic inertia

e.competitive apathy

28.A __________, also called a SWOT analysis for strengths, weaknesses, opportunities, and threats, is an assessment of the strengths and weaknesses in an organization’s internal environment and the opportunities and threats in its external environment.

a.market audit

b.firm-level strategy

c.competitive advantage

d.differentiation analysis

e.situational analysis

29.An organization is experiencing __________ when there is a discrepancy between the company’s intended strategy and the strategic actions actually implemented by management.

a.competitive myopia

b.character of the rivalry

c.strategic dissonance

d.competitive inertia

e.an organizational roadblock

30.The Thomas Cook travel agency has experienced financial setbacks due to the Iraq war, the SARS epidemic, and unusually hot weather in Europe.  A situational analysis would conclude that its setbacks were due to:

a.threats in its external environment

b.opportunities in its environmental environment

c.weaknesses in its external environment

d.the absence of strengths in its internal environment

e.weaknesses in its internal environment

 

 

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