Question 1

The process by which strategies and policies are put into action through the development of programs, budgets, and procedures is

Accepted Answer

A)  strategy formulation. 
B)  strategy control. 
C)  strategy implementation. 
D)  strategy development. 
E)  strategy evaluation. 
A)  strategy formulation. 
B)  strategy control. 
C)  strategy implementation. 
D)  strategy development. 
E)  strategy evaluation. C

Question 2

The variables structure, culture, and resources pertain to the

Accepted Answer

A)  external environment. 
B)  internal environment. 
C)  sociocultural forces. 
D)  task environment. 
E)  societal environment. 
A)  external environment. 
B)  internal environment. 
C)  sociocultural forces. 
D)  task environment. 
E)  societal environment. B

Question 3

As a part of the strategic management process, evaluation and control is concerned with all of the following, EXCEPT

Accepted Answer

A)  generating feedback to decision makers. 
B)  monitoring corporate activities and performance. 
C)  stimulating a review of the corporation's strategic management. 
D)  pinpointing problem areas. 
E)  determining top management benefits packages. 
A)  generating feedback to decision makers. 
B)  monitoring corporate activities and performance. 
C)  stimulating a review of the corporation's strategic management. 
D)  pinpointing problem areas. 
E)  determining top management benefits packages. E

Question 4

Which of the following is not a characteristic of strategic decisions as mentioned in the text?

Accepted Answer

A)  directive 
B)  consequential 
C)  rare 
D)  continuous 
E)  require commitment of substantial resources 
A)  directive 
B)  consequential 
C)  rare 
D)  continuous 
E)  require commitment of substantial resources

Question 5

All of the following reflect activities of a learning organization EXCEPT

Accepted Answer

A)  experimenting with new approaches. 
B)  learning from its own experiences and past history. 
C)  solving problems systematically. 
D)  alienating competitors in the industry. 
E)  transferring knowledge quickly and efficiently throughout the organization. 
A)  experimenting with new approaches. 
B)  learning from its own experiences and past history. 
C)  solving problems systematically. 
D)  alienating competitors in the industry. 
E)  transferring knowledge quickly and efficiently throughout the organization.

Question 6

Which one of the following is included in the firm's task environment?

Accepted Answer

A)  technological factors 
B)  sociocultural factors 
C)  culture 
D)  stockholders 
E)  political-legal forces 
A)  technological factors 
B)  sociocultural factors 
C)  culture 
D)  stockholders 
E)  political-legal forces

Question 7

FedEx stipulates specific employee behaviors including how a driver dresses to how keys are held when approaching a customer's door. This is an example of a

Accepted Answer

A)  program. 
B)  budget. 
C)  procedure. 
D)  policy. 
E)  control. 
A)  program. 
B)  budget. 
C)  procedure. 
D)  policy. 
E)  control.

Question 8

The T in SWOT stands for

Accepted Answer

A)  trust. 
B)  technical. 
C)  terminal. 
D)  threats. 
E)  task. 
A)  trust. 
B)  technical. 
C)  terminal. 
D)  threats. 
E)  task.

Question 9

Boston Consulting Group (BCG) found that innovation is a top 3 priority for three-quarters of the companies in the 2014 BCG global innovation survey.

Accepted Answer

A) True 
 B)False

Question 10

A set of sequential steps or techniques that describe in detail how a particular task or job is to be done is referred to as

Accepted Answer

A)  a standard operating procedure. 
B)  a systems operating procedure. 
C)  a standard operating program. 
D)  a standard outside procedure. 
E)  a systems operating plan. 
A)  a standard operating procedure. 
B)  a systems operating procedure. 
C)  a standard operating program. 
D)  a standard outside procedure. 
E)  a systems operating plan.

Question 11

Briefly describe the four basic elements of strategic management.

Accepted Answer

Strategic management consists of four ba

Question 12

The time horizon involved with regard to basic financial planning is usually

Accepted Answer

A)  one year. 
B)  one quarter. 
C)  three to five years. 
D)  less than one month. 
E)  five to ten years. 
A)  one year. 
B)  one quarter. 
C)  three to five years. 
D)  less than one month. 
E)  five to ten years.

Question 13

The type of strategy, which achieves corporate and business unit objectives and strategies by maximizing resource productivity is

Accepted Answer

A)  functional. 
B)  operational. 
C)  business. 
D)  product. 
E)  corporate. 
A)  functional. 
B)  operational. 
C)  business. 
D)  product. 
E)  corporate.

Question 14

The free trade area composed of Argentina, Brazil, Uruguay, Venezuela, and Paraguay is called

Accepted Answer

A)  EU. 
B)  ASEAN. 
C)  NAFTA. 
D)  Mercosur. 
E)  ABUP. 
A)  EU. 
B)  ASEAN. 
C)  NAFTA. 
D)  Mercosur. 
E)  ABUP.

Question 15

Strategic management is that set of managerial decisions and actions that determine the long-run performance of a corporation. Which one of the following is not one of the basic elements of the strategic management process?

Accepted Answer

A)  strategy formulation 
B)  strategy implementation 
C)  statistical process control 
D)  evaluation and control 
E)  environmental scanning 
A)  strategy formulation 
B)  strategy implementation 
C)  statistical process control 
D)  evaluation and control 
E)  environmental scanning

Question 16

Define globalization and identify the role of strategic management in globalization.

Accepted Answer

Globalization is the internationalizatio

Question 17

A hierarchy of strategy emphasizes the need for the three levels of strategy to complement and support one another.

Accepted Answer

A) True 
 B)False

Question 18

The mode of strategy formulation used when top management has a reasonably clear idea of the corporation's mission and objectives, but chooses to develop a series of tentative or partial strategies instead of developing full-blown strategies is called

Accepted Answer

A)  planning mode. 
B)  logical incrementalism. 
C)  entrepreneurial mode. 
D)  adaptive mode. 
E)  strategic mode. 
A)  planning mode. 
B)  logical incrementalism. 
C)  entrepreneurial mode. 
D)  adaptive mode. 
E)  strategic mode.

Question 19

One member of the European Union (EU) is Chile.

Accepted Answer

A) True 
 B)False

Question 20

Logical incrementalism is a useful decision-making mode when the environment is rapidly changing and when it is important to build consensus to a specific strategy.

Accepted Answer

A) True 
 B)False

The process by which strategies and policies are put into action through the development of programs, budgets, and procedures is

The variables structure, culture, and resources pertain to the

As a part of the strategic management process, evaluation and control is concerned with all of the following, EXCEPT

Which of the following is not a characteristic of strategic decisions as mentioned in the text?

All of the following reflect activities of a learning organization EXCEPT

Which one of the following is included in the firm's task environment?

FedEx stipulates specific employee behaviors including how a driver dresses to how keys are held when approaching a customer's door. This is an example of a

The T in SWOT stands for

Boston Consulting Group (BCG) found that innovation is a top 3 priority for three-quarters of the companies in the 2014 BCG global innovation survey.

A set of sequential steps or techniques that describe in detail how a particular task or job is to be done is referred to as

Briefly describe the four basic elements of strategic management.

The time horizon involved with regard to basic financial planning is usually

The type of strategy, which achieves corporate and business unit objectives and strategies by maximizing resource productivity is

The free trade area composed of Argentina, Brazil, Uruguay, Venezuela, and Paraguay is called

Strategic management is that set of managerial decisions and actions that determine the long-run performance of a corporation. Which one of the following is not one of the basic elements of the strategic management process?

Define globalization and identify the role of strategic management in globalization.

A hierarchy of strategy emphasizes the need for the three levels of strategy to complement and support one another.

The mode of strategy formulation used when top management has a reasonably clear idea of the corporation's mission and objectives, but chooses to develop a series of tentative or partial strategies instead of developing full-blown strategies is called

One member of the European Union (EU) is Chile.

Logical incrementalism is a useful decision-making mode when the environment is rapidly changing and when it is important to build consensus to a specific strategy.

Corporate Governance

Social Responsibility and Ethics in Strategic Management

Environmental Scanning and Industry Analysis

Organizational Analysis and Competitive Advantage

Strategy Formulation: Business Strategy

Strategy Formulation: Corporate Strategy

Strategy Formulation: Functional Strategy and Strategic Choice

Strategy Implementation: Global Strategy

Strategy Implementation: Organizing and Structure

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

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Exam 1: Basic Concepts in Strategic Management

The process by which strategies and policies are put into action through the development of programs, budgets, and procedures is

The variables structure, culture, and resources pertain to the

As a part of the strategic management process, evaluation and control is concerned with all of the following, EXCEPT

Which of the following is not a characteristic of strategic decisions as mentioned in the text?

All of the following reflect activities of a learning organization EXCEPT

Which one of the following is included in the firm's task environment?

FedEx stipulates specific employee behaviors including how a driver dresses to how keys are held when approaching a customer's door. This is an example of a

The T in SWOT stands for

Boston Consulting Group (BCG) found that innovation is a top 3 priority for three-quarters of the companies in the 2014 BCG global innovation survey.

A set of sequential steps or techniques that describe in detail how a particular task or job is to be done is referred to as

Briefly describe the four basic elements of strategic management.

The time horizon involved with regard to basic financial planning is usually

The type of strategy, which achieves corporate and business unit objectives and strategies by maximizing resource productivity is

The free trade area composed of Argentina, Brazil, Uruguay, Venezuela, and Paraguay is called

Strategic management is that set of managerial decisions and actions that determine the long-run performance of a corporation. Which one of the following is not one of the basic elements of the strategic management process?

Define globalization and identify the role of strategic management in globalization.

A hierarchy of strategy emphasizes the need for the three levels of strategy to complement and support one another.

The mode of strategy formulation used when top management has a reasonably clear idea of the corporation's mission and objectives, but chooses to develop a series of tentative or partial strategies instead of developing full-blown strategies is called

One member of the European Union (EU) is Chile.

Logical incrementalism is a useful decision-making mode when the environment is rapidly changing and when it is important to build consensus to a specific strategy.

Corporate Governance

Social Responsibility and Ethics in Strategic Management

Environmental Scanning and Industry Analysis

Organizational Analysis and Competitive Advantage

Strategy Formulation: Business Strategy

Strategy Formulation: Corporate Strategy

Strategy Formulation: Functional Strategy and Strategic Choice

Strategy Implementation: Global Strategy

Strategy Implementation: Organizing and Structure

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters