Question 1

Broad statements of the results an organization wishes to achieve in the long run are referred to as

Accepted Answer

A)  strategic initiatives. 
B)  organizational initiatives. 
C)  strategic goals. 
D)  functional initiatives. 
E)  tactical goals. 
A)  strategic initiatives. 
B)  organizational initiatives. 
C)  strategic goals. 
D)  functional initiatives. 
E)  tactical goals. C

Question 2

An organization that pursues a generic strategy of __________ competes by offering products or services that are differentiated from those of their competitors in some way.

Accepted Answer

A)  cost-leadership 
B)  differentiation 
C)  growth 
D)  stability 
E)  retrenchment 
A)  cost-leadership 
B)  differentiation 
C)  growth 
D)  stability 
E)  retrenchment B

Question 3

The four stages of the strategic planning process are

Accepted Answer

A)  strategic analysis, strategic sorting, strategy implementation, and strategic reassessment. 
B)  strategic analysis, strategy formulation, strategic motivating, and strategic reassessment. 
C)  strategy formulation, strategy implementation, strategic evaluation and control, and strategic feedback. 
D)  strategic analysis, strategy formulation, strategy implementation, and strategic evaluation and control. 
E)  strategic assessment, strategy formulation, strategic motivating, and strategic feedback. 
A)  strategic analysis, strategic sorting, strategy implementation, and strategic reassessment. 
B)  strategic analysis, strategy formulation, strategic motivating, and strategic reassessment. 
C)  strategy formulation, strategy implementation, strategic evaluation and control, and strategic feedback. 
D)  strategic analysis, strategy formulation, strategy implementation, and strategic evaluation and control. 
E)  strategic assessment, strategy formulation, strategic motivating, and strategic feedback. D

Question 4

The Neiman Marcus Christmas Catalog is known for its outlandish and luxurious gifts. An example is a $395 set of Swarovski Crystal Dominos. Neiman Marcus is following a __________ strategy with its Christmas catalog.

Accepted Answer

A)  growth 
B)  grand, cost-leadership 
C)  differentiation 
D)  cost-leadership 
E)  grand 
A)  growth 
B)  grand, cost-leadership 
C)  differentiation 
D)  cost-leadership 
E)  grand

Question 5

Distinctive characteristics of firms that pursue a generic strategy of __________ may include exceptional customer service, quality, dependability, availability, innovation, or image.

Accepted Answer

A)  cost leadership 
B)  industry leadership 
C)  customer service 
D)  retrenchment 
E)  differentiation 
A)  cost leadership 
B)  industry leadership 
C)  customer service 
D)  retrenchment 
E)  differentiation

Question 6

The information gathered during strategy implementation serves as a foundation for the formulation of the organization's strategic plan.

Accepted Answer

A) True 
 B)False

Question 7

After completing a rigorous strategic plan, Costco Corporation decided to remain in the same line of business as it had in the past, with little change to its operations. Costco chose a grand strategy of

Accepted Answer

A)  balance. 
B)  conservation. 
C)  retrenchment. 
D)  stability. 
E)  growth. 
A)  balance. 
B)  conservation. 
C)  retrenchment. 
D)  stability. 
E)  growth.

Question 8

Missions statement are difficult to construct.

Accepted Answer

A) True 
 B)False

Question 9

The purpose of __________ is to identify assets, resources, skills, and processes that represent either strengths or weaknesses of the organization.

Accepted Answer

A)  an external analysis 
B)  an internal and external analysis 
C)  competitive assessment 
D)  an internal analysis 
E)  a mission assessment 
A)  an external analysis 
B)  an internal and external analysis 
C)  competitive assessment 
D)  an internal analysis 
E)  a mission assessment

Question 10

Strategic Management refers to overall, long-run management, including planning, organizing, leading, and controlling effectively and efficiently over the long-run.

Accepted Answer

A) True 
 B)False

Question 11

GDP trends, interest rates, unemployment levels, and the money supply are examples of issues that pertain to an organization's __________ environment.

Accepted Answer

A)  technological 
B)  socio-cultural 
C)  economic 
D)  political 
E)  legal 
A)  technological 
B)  socio-cultural 
C)  economic 
D)  political 
E)  legal

Question 12

Strategic planning is the process by which an organization makes decisions and takes actions that affect its long-run performance.

Accepted Answer

A) True 
 B)False

Question 13

Match each term with the correct statement below.
-asks the question, "How will the organization know when it has arrived?"

Accepted Answer

A)  strategic planning 
B)  strategic plan 
C)  strategic analysis 
D)  strategy formulation 
E)  strategy implementation
F) strategic evaluation and control 
A)  strategic planning 
B)  strategic plan 
C)  strategic analysis 
D)  strategy formulation 
E)  strategy implementation
F) strategic evaluation and control

Question 14

A focus strategy occurs when an organization targets a specific, narrow segment of the market and thereby avoids competing with those organizations that target a broader segment of the market.

Accepted Answer

A) True 
 B)False

Question 15

Match each term with the correct statement below.
-designed to ensure continuity in the operations and performance of the organization, and implying that the organization will remain in the same lines of business as it has in the past

Accepted Answer

A)  stability 
B)  growth 
C)  retrenchment 
A)  stability 
B)  growth 
C)  retrenchment

Question 16

The distinctive characteristics of an organization that pursues a cost leadership strategy may include exceptional customer service, quality, dependability, availability, innovation, or image.

Accepted Answer

A) True 
 B)False

Question 17

Strategic planning is a part of strategic management.

Accepted Answer

A) True 
 B)False

Question 18

The large percentage of two-income families in the workforce has provided opportunities for a number of businesses, including childcare, housekeeping services, dry cleaning, and fast-food restaurants. The increase in two-income families in the workforce is an example of a __________ factor affecting many American businesses.

Accepted Answer

A)  economic 
B)  socio-cultural 
C)  political-legal 
D)  demographic 
E)  technological 
A)  economic 
B)  socio-cultural 
C)  political-legal 
D)  demographic 
E)  technological

Question 19

In order to remain competitive, Suzanne spends a considerable amount of time studying her company's competition, possible changes in her targeted customer base, and the availability of supplies needed by her company. The forces Suzanne is examining are included in her firm's __________ environment.

Accepted Answer

A)  internal 
B)  specific 
C)  task 
D)  general 
E)  tactical 
A)  internal 
B)  specific 
C)  task 
D)  general 
E)  tactical

Question 20

Match each term with the correct statement below.
-the process by which an organization makes decisions and takes action to enhance its long-run performance

Accepted Answer

A)  strategic planning 
B)  strategic plan 
C)  strategic analysis 
D)  strategy formulation 
E)  strategy implementation
F) strategic evaluation and control 
A)  strategic planning 
B)  strategic plan 
C)  strategic analysis 
D)  strategy formulation 
E)  strategy implementation
F) strategic evaluation and control

Broad statements of the results an organization wishes to achieve in the long run are referred to as

An organization that pursues a generic strategy of __________ competes by offering products or services that are differentiated from those of their competitors in some way.

The four stages of the strategic planning process are

The Neiman Marcus Christmas Catalog is known for its outlandish and luxurious gifts. An example is a $395 set of Swarovski Crystal Dominos. Neiman Marcus is following a __________ strategy with its Christmas catalog.

Distinctive characteristics of firms that pursue a generic strategy of __________ may include exceptional customer service, quality, dependability, availability, innovation, or image.

The information gathered during strategy implementation serves as a foundation for the formulation of the organization's strategic plan.

After completing a rigorous strategic plan, Costco Corporation decided to remain in the same line of business as it had in the past, with little change to its operations. Costco chose a grand strategy of

Missions statement are difficult to construct.

The purpose of __________ is to identify assets, resources, skills, and processes that represent either strengths or weaknesses of the organization.

Strategic Management refers to overall, long-run management, including planning, organizing, leading, and controlling effectively and efficiently over the long-run.

GDP trends, interest rates, unemployment levels, and the money supply are examples of issues that pertain to an organization's __________ environment.

Strategic planning is the process by which an organization makes decisions and takes actions that affect its long-run performance.

Match each term with the correct statement below. -asks the question, "How will the organization know when it has arrived?"

A focus strategy occurs when an organization targets a specific, narrow segment of the market and thereby avoids competing with those organizations that target a broader segment of the market.

Match each term with the correct statement below. -designed to ensure continuity in the operations and performance of the organization, and implying that the organization will remain in the same lines of business as it has in the past

The distinctive characteristics of an organization that pursues a cost leadership strategy may include exceptional customer service, quality, dependability, availability, innovation, or image.

Strategic planning is a part of strategic management.

In order to remain competitive, Suzanne spends a considerable amount of time studying her company's competition, possible changes in her targeted customer base, and the availability of supplies needed by her company. The forces Suzanne is examining are included in her firm's __________ environment.

Match each term with the correct statement below. -the process by which an organization makes decisions and takes action to enhance its long-run performance

Management and Managers

Evolution of Management Thought

Social Responsibility and Ethics

Planning in the Contemporary Organization

Managerial Decision Making

Organizing for Effectiveness and Efficiency

Organizational Design

Strategic Human Resource Management

Organizational Culture and Change

Communicating Effectively Within Diverse Organizations

Leading in a Dynamic Environment

Exploring Individual Differences and Team Dynamics

Motivating Organizational Members

Organizational Control in a Complex Business Environment

Productivity and Quality in Operations

Information Technology and Control

Filters

Exam 4: Strategic Management and Planning in a Global Environment

Broad statements of the results an organization wishes to achieve in the long run are referred to as

An organization that pursues a generic strategy of __________ competes by offering products or services that are differentiated from those of their competitors in some way.

The four stages of the strategic planning process are

The Neiman Marcus Christmas Catalog is known for its outlandish and luxurious gifts. An example is a $395 set of Swarovski Crystal Dominos. Neiman Marcus is following a __________ strategy with its Christmas catalog.

Distinctive characteristics of firms that pursue a generic strategy of __________ may include exceptional customer service, quality, dependability, availability, innovation, or image.

The information gathered during strategy implementation serves as a foundation for the formulation of the organization's strategic plan.

After completing a rigorous strategic plan, Costco Corporation decided to remain in the same line of business as it had in the past, with little change to its operations. Costco chose a grand strategy of

Missions statement are difficult to construct.

The purpose of __________ is to identify assets, resources, skills, and processes that represent either strengths or weaknesses of the organization.

Strategic Management refers to overall, long-run management, including planning, organizing, leading, and controlling effectively and efficiently over the long-run.

GDP trends, interest rates, unemployment levels, and the money supply are examples of issues that pertain to an organization's __________ environment.

Strategic planning is the process by which an organization makes decisions and takes actions that affect its long-run performance.

Match each term with the correct statement below. -asks the question, "How will the organization know when it has arrived?"

A focus strategy occurs when an organization targets a specific, narrow segment of the market and thereby avoids competing with those organizations that target a broader segment of the market.

Match each term with the correct statement below. -designed to ensure continuity in the operations and performance of the organization, and implying that the organization will remain in the same lines of business as it has in the past

The distinctive characteristics of an organization that pursues a cost leadership strategy may include exceptional customer service, quality, dependability, availability, innovation, or image.

Strategic planning is a part of strategic management.

In order to remain competitive, Suzanne spends a considerable amount of time studying her company's competition, possible changes in her targeted customer base, and the availability of supplies needed by her company. The forces Suzanne is examining are included in her firm's __________ environment.

Match each term with the correct statement below. -the process by which an organization makes decisions and takes action to enhance its long-run performance

Management and Managers

Evolution of Management Thought

Social Responsibility and Ethics

Planning in the Contemporary Organization

Managerial Decision Making

Organizing for Effectiveness and Efficiency

Organizational Design

Strategic Human Resource Management

Organizational Culture and Change

Communicating Effectively Within Diverse Organizations

Leading in a Dynamic Environment

Exploring Individual Differences and Team Dynamics

Motivating Organizational Members

Organizational Control in a Complex Business Environment

Productivity and Quality in Operations

Information Technology and Control

Filters