Question 1

Companies that use strategic management tend to have higher levels of performance.

Accepted Answer

A) True 
 B)False  True

Question 2

________ is the determination of the broad uses to which organizational resources will be deployed and the resolution of conflicts among the myriad of participants in organizations.

Accepted Answer

A)  Vision 
B)  Mission 
C)  Corporate governance 
D)  Goals 
E)  Objectives 
A)  Vision 
B)  Mission 
C)  Corporate governance 
D)  Goals 
E)  Objectives C

Question 3

Mr. Smith has been summoned to the next No Leaks Plumbing's, a publicly-held company, Board of Directors' meeting to explain why his new delivery strategy has cost the company $10,000. This is an example of which of the following Board of Directors responsibilities?

Accepted Answer

A)  Protecting the interests of the shareholders 
B)  Overseeing the company's management 
C)  Governing the organization's decisions and actions 
D)  All of the answer choices are correct. 
E)  None of the answer choices is correct. 
A)  Protecting the interests of the shareholders 
B)  Overseeing the company's management 
C)  Governing the organization's decisions and actions 
D)  All of the answer choices are correct. 
E)  None of the answer choices is correct. D

Question 4

Describe the strategic management process. What does it mean to manage strategically?

Accepted Answer

Strategic management involves a series o

Question 5

Explain the components of effective strategic leadership.

Accepted Answer

Effective strategic leadership consists

Question 6

One issue considered in developing corporate strategies is

Accepted Answer

A)  What business(es) are we in? 
B)  What direction are we going? 
C)  What resources do we have to implement our strategies? 
D)  What businesses are we in and what to do with those businesses? 
E)  None of the answer choices is correct. 
A)  What business(es) are we in? 
B)  What direction are we going? 
C)  What resources do we have to implement our strategies? 
D)  What businesses are we in and what to do with those businesses? 
E)  None of the answer choices is correct.

Question 7

Functional strategies are the goal-directed plans and actions of the organization's various functional departments.

Accepted Answer

A) True 
 B)False

Question 8

Section 404 of the Sarbanes-Oxley Act deals with the establishment and auditing of

Accepted Answer

A)  external financial controls. 
B)  internal financial controls. 
C)  appointment of the CEO. 
D)  appointment of Board members. 
E)  All of the answer choices are correct. 
A)  external financial controls. 
B)  internal financial controls. 
C)  appointment of the CEO. 
D)  appointment of Board members. 
E)  All of the answer choices are correct.

Question 9

Aspects of a chief executive's role include

Accepted Answer

A)  key decision maker. 
B)  visionary leader. 
C)  political actor. 
D)  strategy designer. 
E)  All of the answer choices are correct. 
A)  key decision maker. 
B)  visionary leader. 
C)  political actor. 
D)  strategy designer. 
E)  All of the answer choices are correct.

Question 10

Situation analysis allows the organization to examine

Accepted Answer

A)  external factors only. 
B)  internal factors only. 
C)  the organization's top management only. 
D)  both external and internal factors. 
E)  None of the answer choices is correct. 
A)  external factors only. 
B)  internal factors only. 
C)  the organization's top management only. 
D)  both external and internal factors. 
E)  None of the answer choices is correct.

Question 11

Strategy should be developed from a number of approaches rather than a single approach.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following statements is not true regarding corporate strategies?

Accepted Answer

A)  They are concerned with the broad and more long-term issues of the organization. 
B)  They are concerned with how the organization is going to compete in a specific business or industry. 
C)  They are concerned with the direction the organization is headed. 
D)  They are concerned with the business(es) that the organization is in and the businesses they want to be in. 
E)  All of the answer choices are correct. 
A)  They are concerned with the broad and more long-term issues of the organization. 
B)  They are concerned with how the organization is going to compete in a specific business or industry. 
C)  They are concerned with the direction the organization is headed. 
D)  They are concerned with the business(es) that the organization is in and the businesses they want to be in. 
E)  All of the answer choices are correct.

Question 13

Discuss the various roles of the board of directors.

Accepted Answer

The board of directors constructs the el

Question 14

How is strategic management different from other types of management?

Accepted Answer

A)  Strategic management has an external focus by its emphasis on the interactions of the organization with its external environment. 
B)  Strategic management involves the organization's specific resources and capabilities. 
C)  Strategic management concerns itself with the choice of future direction that the organization is going. 
D)  Strategic management enables managers to evaluate the organization's internal and external situation and decide future actions to take. 
E)  All of the answer choices are correct. 
A)  Strategic management has an external focus by its emphasis on the interactions of the organization with its external environment. 
B)  Strategic management involves the organization's specific resources and capabilities. 
C)  Strategic management concerns itself with the choice of future direction that the organization is going. 
D)  Strategic management enables managers to evaluate the organization's internal and external situation and decide future actions to take. 
E)  All of the answer choices are correct.

Question 15

An organization's ________ are its goal-directed plans and actions in which its capabilities and resources are matched with the opportunities and threats in its environment.

Accepted Answer

A)  mission statements 
B)  vision statements 
C)  strategies 
D)  objectives 
E)  None of the answer choices is correct. 
A)  mission statements 
B)  vision statements 
C)  strategies 
D)  objectives 
E)  None of the answer choices is correct.

Question 16

The academic discipline primarily responsible for the development of strategic management is

Accepted Answer

A)  accounting. 
B)  economics. 
C)  biology. 
D)  philosophy. 
E)  anthropology. 
A)  accounting. 
B)  economics. 
C)  biology. 
D)  philosophy. 
E)  anthropology.

Question 17

Situation analysis involves the process of

Accepted Answer

A)  designing and choosing appropriate organizational strategies. 
B)  analyzing the current environment of the organization. 
C)  analyzing the external environment only. 
D)  evaluating the internal aspects of the organization. 
E)  None of the answer choices is correct. 
A)  designing and choosing appropriate organizational strategies. 
B)  analyzing the current environment of the organization. 
C)  analyzing the external environment only. 
D)  evaluating the internal aspects of the organization. 
E)  None of the answer choices is correct.

Question 18

In the development of strategic management as a discipline, Alfred Chandler wrote the book

Accepted Answer

A)  Corporate Strategy. 
B)  Business Policy: Text and Cases. 
C)  The Pursuit of Excellence. 
D)  Strategy and Structure. 
E)  The Teflon Leader. 
A)  Corporate Strategy. 
B)  Business Policy: Text and Cases. 
C)  The Pursuit of Excellence. 
D)  Strategy and Structure. 
E)  The Teflon Leader.

Question 19

All of the following roles are representative of effective strategic leadership except

Accepted Answer

A)  establishing appropriately balanced controls. 
B)  checking inventory management. 
C)  exploiting and maintaining core competencies. 
D)  emphasizing ethical decisions and practices. 
E)  creating and sustaining strong organizational culture. 
A)  establishing appropriately balanced controls. 
B)  checking inventory management. 
C)  exploiting and maintaining core competencies. 
D)  emphasizing ethical decisions and practices. 
E)  creating and sustaining strong organizational culture.

Question 20

Mr. Smith has decided to offer free delivery of orders more than $1,000 to outcompete his largest competitor. This strategy is an example of which of the following types of strategy?

Accepted Answer

A)  Corporate strategy 
B)  Functional strategy 
C)  Competitive strategy 
D)  Operational strategy 
E)  Organizational strategy 
A)  Corporate strategy 
B)  Functional strategy 
C)  Competitive strategy 
D)  Operational strategy 
E)  Organizational strategy

Companies that use strategic management tend to have higher levels of performance.

________ is the determination of the broad uses to which organizational resources will be deployed and the resolution of conflicts among the myriad of participants in organizations.

Mr. Smith has been summoned to the next No Leaks Plumbing's, a publicly-held company, Board of Directors' meeting to explain why his new delivery strategy has cost the company $10,000. This is an example of which of the following Board of Directors responsibilities?

Describe the strategic management process. What does it mean to manage strategically?

Explain the components of effective strategic leadership.

One issue considered in developing corporate strategies is

Functional strategies are the goal-directed plans and actions of the organization's various functional departments.

Section 404 of the Sarbanes-Oxley Act deals with the establishment and auditing of

Aspects of a chief executive's role include

Situation analysis allows the organization to examine

Strategy should be developed from a number of approaches rather than a single approach.

Which of the following statements is not true regarding corporate strategies?

Discuss the various roles of the board of directors.

How is strategic management different from other types of management?

An organization's ________ are its goal-directed plans and actions in which its capabilities and resources are matched with the opportunities and threats in its environment.

The academic discipline primarily responsible for the development of strategic management is

Situation analysis involves the process of

In the development of strategic management as a discipline, Alfred Chandler wrote the book

All of the following roles are representative of effective strategic leadership except

Mr. Smith has decided to offer free delivery of orders more than $1,000 to outcompete his largest competitor. This strategy is an example of which of the following types of strategy?

The Context of Managing Strategically

Assessing Opportunities and Threats: Doing an External Analysis

Assessing Strengths and Weaknesses: Doing an Internal Analysis

Functional and Competitive Strategies

Corporate Strategies

International Strategies

Module Special Topics in Strategy

Filters

Exam 1: Introducing the Concepts

Companies that use strategic management tend to have higher levels of performance.

________ is the determination of the broad uses to which organizational resources will be deployed and the resolution of conflicts among the myriad of participants in organizations.

Mr. Smith has been summoned to the next No Leaks Plumbing's, a publicly-held company, Board of Directors' meeting to explain why his new delivery strategy has cost the company $10,000. This is an example of which of the following Board of Directors responsibilities?

Describe the strategic management process. What does it mean to manage strategically?

Explain the components of effective strategic leadership.

One issue considered in developing corporate strategies is

Functional strategies are the goal-directed plans and actions of the organization's various functional departments.

Section 404 of the Sarbanes-Oxley Act deals with the establishment and auditing of

Aspects of a chief executive's role include

Situation analysis allows the organization to examine

Strategy should be developed from a number of approaches rather than a single approach.

Which of the following statements is not true regarding corporate strategies?

Discuss the various roles of the board of directors.

How is strategic management different from other types of management?

An organization's ________ are its goal-directed plans and actions in which its capabilities and resources are matched with the opportunities and threats in its environment.

The academic discipline primarily responsible for the development of strategic management is

Situation analysis involves the process of

In the development of strategic management as a discipline, Alfred Chandler wrote the book

All of the following roles are representative of effective strategic leadership except

Mr. Smith has decided to offer free delivery of orders more than $1,000 to outcompete his largest competitor. This strategy is an example of which of the following types of strategy?

The Context of Managing Strategically

Assessing Opportunities and Threats: Doing an External Analysis

Assessing Strengths and Weaknesses: Doing an Internal Analysis

Functional and Competitive Strategies

Corporate Strategies

International Strategies

Module Special Topics in Strategy

Filters