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.

Question 2

The phenomenon that describes corporations as evolving through relatively long periods of stability punctuated by relatively short bursts of fundamental change is known as

Accepted Answer

A)  revolution. 
B)  equilibrium. 
C)  punctuated equilibrium. 
D)  logical incrementalism. 
E)  discontinuity. 
A)  revolution. 
B)  equilibrium. 
C)  punctuated equilibrium. 
D)  logical incrementalism. 
E)  discontinuity.

Question 3

The theory that proposes organizations can and do adapt to changing conditions by imitating other successful organizations is known as

Accepted Answer

A)  population ecology. 
B)  institution theory. 
C)  citizenship theory. 
D)  strategic theory. 
E)  sample theory. 
A)  population ecology. 
B)  institution theory. 
C)  citizenship theory. 
D)  strategic theory. 
E)  sample theory.

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

The Strategic Management Model presents the following process of strategy formulation:

Accepted Answer

A)  Objectives - Policies - Strategies - Mission. 
B)  Mission - Policies - Strategies - Objectives. 
C)  Policies - Mission - Strategies - Objectives. 
D)  Policies - Strategies - Objectives - Mission. 
E)  Mission - Objectives - Strategies - Policies. 
A)  Objectives - Policies - Strategies - Mission. 
B)  Mission - Policies - Strategies - Objectives. 
C)  Policies - Mission - Strategies - Objectives. 
D)  Policies - Strategies - Objectives - Mission. 
E)  Mission - Objectives - Strategies - Policies.

Question 6

The existence of a performance gap

Accepted Answer

A)  should cause management to question their objectives, strategies, and policies. 
B)  is not an indicator of problems if it only happens once. 
C)  is only the concern of top management because they set the original strategies. 
D)  should cause management to look only within the organization to determine the problem. 
E)  should signal the immediate need for a layoff. 
A)  should cause management to question their objectives, strategies, and policies. 
B)  is not an indicator of problems if it only happens once. 
C)  is only the concern of top management because they set the original strategies. 
D)  should cause management to look only within the organization to determine the problem. 
E)  should signal the immediate need for a layoff.

Question 7

To be effective, strategic management must be a formal process.

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

Climate change has become a growing concern for businesses to include in their corporate strategies.

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

Population ecology is a theory that proposes organizations can and do adapt to change by imitating other successful organizations.

Accepted Answer

A) True 
 B)False

Question 12

Punctuated equilibrium describes organizations as evolving through relatively long periods of stability punctuated by relatively short bursts of fundamental change.

Accepted Answer

A) True 
 B)False

Question 13

Which one of the following is an example of a narrow scope in a mission?

Accepted Answer

A)  transportation (vs. railroads) 
B)  computers (vs. office equipment) 
C)  health care (vs. hospitals) 
D)  real estate (vs. apartments) 
E)  telecommunications (vs. television) 
A)  transportation (vs. railroads) 
B)  computers (vs. office equipment) 
C)  health care (vs. hospitals) 
D)  real estate (vs. apartments) 
E)  telecommunications (vs. television)

Question 14

Which of the following is an example of a policy?

Accepted Answer

A)  Diversify product line to appeal to more people. 
B)  Increase sales by 10% over last year. 
C)  Pay highest salaries to keep high quality employees. 
D)  Develop and sell quality appliances worldwide. 
E)  Diversify from retailing into delivery. 
A)  Diversify product line to appeal to more people. 
B)  Increase sales by 10% over last year. 
C)  Pay highest salaries to keep high quality employees. 
D)  Develop and sell quality appliances worldwide. 
E)  Diversify from retailing into delivery.

Question 15

Which of the following is an example of a corporate strategy?

Accepted Answer

A)  Diversify product line to appeal to more people. 
B)  Imitate products of competitors. 
C)  Pay highest salaries to keep high quality employees. 
D)  Develop and sell quality appliances worldwide. 
E)  Divide a sales region into a group of sales districts. 
A)  Diversify product line to appeal to more people. 
B)  Imitate products of competitors. 
C)  Pay highest salaries to keep high quality employees. 
D)  Develop and sell quality appliances worldwide. 
E)  Divide a sales region into a group of sales districts.

Question 16

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

Accepted Answer

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

Question 17

A checklist of questions, by area or issue that enables a systematic analysis to be made of various corporate functions and activities is referred to as a(n)

Accepted Answer

A)  scenario. 
B)  portfolio. 
C)  strategic audit. 
D)  social responsibility audit. 
E)  SOP. 
A)  scenario. 
B)  portfolio. 
C)  strategic audit. 
D)  social responsibility audit. 
E)  SOP.

Question 18

The integrated internationalization of markets and corporations is called

Accepted Answer

A)  normalization. 
B)  economic integration. 
C)  globalization. 
D)  nationalization. 
E)  regionalization. 
A)  normalization. 
B)  economic integration. 
C)  globalization. 
D)  nationalization. 
E)  regionalization.

Question 19

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 20

Canada, the United States, and Mexico are affiliated economically under which trade alliance?

Accepted Answer

A)  ASEAN 
B)  Mercosur 
C)  EU 
D)  NAFTA 
E)  CAFTA 
A)  ASEAN 
B)  Mercosur 
C)  EU 
D)  NAFTA 
E)  CAFTA

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

The phenomenon that describes corporations as evolving through relatively long periods of stability punctuated by relatively short bursts of fundamental change is known as

The theory that proposes organizations can and do adapt to changing conditions by imitating other successful organizations is known as

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

The Strategic Management Model presents the following process of strategy formulation:

The existence of a performance gap

To be effective, strategic management must be a formal process.

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

Climate change has become a growing concern for businesses to include in their corporate strategies.

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

Population ecology is a theory that proposes organizations can and do adapt to change by imitating other successful organizations.

Punctuated equilibrium describes organizations as evolving through relatively long periods of stability punctuated by relatively short bursts of fundamental change.

Which one of the following is an example of a narrow scope in a mission?

Which of the following is an example of a policy?

Which of the following is an example of a corporate strategy?

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

A checklist of questions, by area or issue that enables a systematic analysis to be made of various corporate functions and activities is referred to as a(n)

The integrated internationalization of markets and corporations is called

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

Canada, the United States, and Mexico are affiliated economically under which trade alliance?

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

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

The phenomenon that describes corporations as evolving through relatively long periods of stability punctuated by relatively short bursts of fundamental change is known as

The theory that proposes organizations can and do adapt to changing conditions by imitating other successful organizations is known as

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

The Strategic Management Model presents the following process of strategy formulation:

The existence of a performance gap

To be effective, strategic management must be a formal process.

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

Climate change has become a growing concern for businesses to include in their corporate strategies.

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

Population ecology is a theory that proposes organizations can and do adapt to change by imitating other successful organizations.

Punctuated equilibrium describes organizations as evolving through relatively long periods of stability punctuated by relatively short bursts of fundamental change.

Which one of the following is an example of a narrow scope in a mission?

Which of the following is an example of a policy?

Which of the following is an example of a corporate strategy?

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

A checklist of questions, by area or issue that enables a systematic analysis to be made of various corporate functions and activities is referred to as a(n)

The integrated internationalization of markets and corporations is called

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

Canada, the United States, and Mexico are affiliated economically under which trade alliance?

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