Question 1

One of the benefits of globalization is

Accepted Answer

A)  economies of scale. 
B)  decreased outsourcing. 
C)  increased union negotiations. 
D)  increased taxes. 
E)  additional human resource training. 
A)  economies of scale. 
B)  decreased outsourcing. 
C)  increased union negotiations. 
D)  increased taxes. 
E)  additional human resource training.

Question 2

Strategic management is the set of managerial decisions that determines the short-term performance of a corporation.

Accepted Answer

A) True 
 B)False

Question 3

A budget is a statement of a corporation's programs in terms of dollars.

Accepted Answer

A) True 
 B)False

Question 4

Strategic flexibility is the ability to shift from one dominant strategy to another.

Accepted Answer

A) True 
 B)False

Question 5

What is a strategic decision and what are its three characteristics?

Accepted Answer

A strategic decision deals with the long

Question 6

Henry Mintzberg discovered that strategic formulation is a regular, continuous process.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is an example of a program?

Accepted Answer

A)  Diversify product line to appeal to more people. 
B)  Increase sales by 10% over last year. 
C)  Must be #1 wherever we compete. 
D)  Develop and sell quality appliances worldwide. 
E)  Reduce final assembly time to three days by having suppliers build plan sections. 
A)  Diversify product line to appeal to more people. 
B)  Increase sales by 10% over last year. 
C)  Must be #1 wherever we compete. 
D)  Develop and sell quality appliances worldwide. 
E)  Reduce final assembly time to three days by having suppliers build plan sections.

Question 8

The development of long-range plans for the effective management of environmental opportunities and threats in light of corporate strengths and weaknesses is known as

Accepted Answer

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

Question 9

Knowing a company is mindful of its impact on the environment seldom changes consumer buying habits.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is NOT one of the four triggering events listed in the text that are the stimulus for a strategic change?

Accepted Answer

A)  intervention by the organization's bank 
B)  annual strategic planning conference 
C)  threat of a takeover 
D)  new CEO 
E)  awareness by management of decreased profitability 
A)  intervention by the organization's bank 
B)  annual strategic planning conference 
C)  threat of a takeover 
D)  new CEO 
E)  awareness by management of decreased profitability

Question 11

The monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation is referred to as

Accepted Answer

A)  environmental scanning. 
B)  external scanning. 
C)  internal scanning. 
D)  strategy formulation. 
E)  strategy implementation. 
A)  environmental scanning. 
B)  external scanning. 
C)  internal scanning. 
D)  strategy formulation. 
E)  strategy implementation.

Question 12

The ability of a corporation to shift from one dominant strategy to another is called

Accepted Answer

A)  strategy implementation. 
B)  chaos formulation. 
C)  contingency management. 
D)  logical incrementalism. 
E)  strategic flexibility. 
A)  strategy implementation. 
B)  chaos formulation. 
C)  contingency management. 
D)  logical incrementalism. 
E)  strategic flexibility.

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

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 15

According to Alfred Chandler

Accepted Answer

A)  high-tech industries are defined by "paths of learning." 
B)  companies spring from an individual entrepreneur's knowledge, which then evolves into organizational knowledge. 
C)  once a corporation has built its learning base to the point where it has become a core company in its industry, entrepreneurial start-ups are rarely able to successfully enter. 
D)  organizational strengths derive from learned capabilities. 
E)  all of the above 
A)  high-tech industries are defined by "paths of learning." 
B)  companies spring from an individual entrepreneur's knowledge, which then evolves into organizational knowledge. 
C)  once a corporation has built its learning base to the point where it has become a core company in its industry, entrepreneurial start-ups are rarely able to successfully enter. 
D)  organizational strengths derive from learned capabilities. 
E)  all of the above

Question 16

The emphasis of strategic management is on

Accepted Answer

A)  monitoring and evaluating external opportunities and threats in light of a corporation's strengths and weaknesses. 
B)  first line managers. 
C)  the short-run performance of the corporation. 
D)  an examination of the organization's internal environment. 
E)  an investigation of competitor actions. 
A)  monitoring and evaluating external opportunities and threats in light of a corporation's strengths and weaknesses. 
B)  first line managers. 
C)  the short-run performance of the corporation. 
D)  an examination of the organization's internal environment. 
E)  an investigation of competitor actions.

Question 17

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 18

The internal environment includes the variables that are within the short-run control of top management.

Accepted Answer

A) True 
 B)False

Question 19

The organization's corporate mission statement

Accepted Answer

A)  should have a different mission statement for each subsidiary division. 
B)  should be less formally stated to allow for growth. 
C)  should set the organization apart from its competitors. 
D)  should state what the organization would like to become. 
E)  should describe the organization's SWOT. 
A)  should have a different mission statement for each subsidiary division. 
B)  should be less formally stated to allow for growth. 
C)  should set the organization apart from its competitors. 
D)  should state what the organization would like to become. 
E)  should describe the organization's SWOT.

Question 20

A strategic decision is rare, consequential, and directive.

Accepted Answer

A) True 
 B)False

One of the benefits of globalization is

Strategic management is the set of managerial decisions that determines the short-term performance of a corporation.

A budget is a statement of a corporation's programs in terms of dollars.

Strategic flexibility is the ability to shift from one dominant strategy to another.

What is a strategic decision and what are its three characteristics?

Henry Mintzberg discovered that strategic formulation is a regular, continuous process.

Which of the following is an example of a program?

The development of long-range plans for the effective management of environmental opportunities and threats in light of corporate strengths and weaknesses is known as

Knowing a company is mindful of its impact on the environment seldom changes consumer buying habits.

Which of the following is NOT one of the four triggering events listed in the text that are the stimulus for a strategic change?

The monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation is referred to as

The ability of a corporation to shift from one dominant strategy to another is called

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

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?

According to Alfred Chandler

The emphasis of strategic management is on

All of the following reflect activities of a learning organization EXCEPT

The internal environment includes the variables that are within the short-run control of top management.

The organization's corporate mission statement

A strategic decision is rare, consequential, and directive.

Corporate Governance

Ethics and Social Responsibility in Strategic Management

Environmental Scanning and Industry Analysis

Internal Scanning and Organizational Analysis

Strategy Formulation: Situation Analysis and Business Strategy

Strategy Formulation: Corporate Strategy

Strategy Formulation: Functional Strategy and Strategic Choice

Strategy Implementation: Organizing for Action

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters

Exam 1: Basic Concepts in Strategic Management

One of the benefits of globalization is

Strategic management is the set of managerial decisions that determines the short-term performance of a corporation.

A budget is a statement of a corporation's programs in terms of dollars.

Strategic flexibility is the ability to shift from one dominant strategy to another.

What is a strategic decision and what are its three characteristics?

Henry Mintzberg discovered that strategic formulation is a regular, continuous process.

Which of the following is an example of a program?

The development of long-range plans for the effective management of environmental opportunities and threats in light of corporate strengths and weaknesses is known as

Knowing a company is mindful of its impact on the environment seldom changes consumer buying habits.

Which of the following is NOT one of the four triggering events listed in the text that are the stimulus for a strategic change?

The monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation is referred to as

The ability of a corporation to shift from one dominant strategy to another is called

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

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?

According to Alfred Chandler

The emphasis of strategic management is on

All of the following reflect activities of a learning organization EXCEPT

The internal environment includes the variables that are within the short-run control of top management.

The organization's corporate mission statement

A strategic decision is rare, consequential, and directive.

Corporate Governance

Ethics and Social Responsibility in Strategic Management

Environmental Scanning and Industry Analysis

Internal Scanning and Organizational Analysis

Strategy Formulation: Situation Analysis and Business Strategy

Strategy Formulation: Corporate Strategy

Strategy Formulation: Functional Strategy and Strategic Choice

Strategy Implementation: Organizing for Action

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters