Question 1

As defined in this course, a policy is

Accepted Answer

A) the purpose or reason for a corporation's existence. 
B) a statement of activities or steps needed to accomplish a single-use plan. 
C) a broad guideline for making decisions that links the formulation of strategy with its implementation. 
D) a comprehensive master plan stating how a corporation will achieve its mission and objectives. 
E) a statement of a corporation's programs in dollar terms. 
A) the purpose or reason for a corporation's existence. 
B) a statement of activities or steps needed to accomplish a single-use plan. 
C) a broad guideline for making decisions that links the formulation of strategy with its implementation. 
D) a comprehensive master plan stating how a corporation will achieve its mission and objectives. 
E) a statement of a corporation's programs in dollar terms.

Question 2

The T in S.W.O.T.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 3

Strategic planning in a multidivisional corporation

Accepted Answer

A) should be informal to allow complete understanding by the many participants. 
B) should be instigated only from the main corporate office. 
C) should be accomplished quickly to decrease the likelihood of it becoming outdated. 
D) should encourage a clear delineation between top management and lower-level managers. 
E) should be a formalized and sophisticated system. 
A) should be informal to allow complete understanding by the many participants. 
B) should be instigated only from the main corporate office. 
C) should be accomplished quickly to decrease the likelihood of it becoming outdated. 
D) should encourage a clear delineation between top management and lower-level managers. 
E) should be a formalized and sophisticated system.

Question 4

Which approach to decision-making is most useful when the environment is changing rapidly and when it is important to build consensus and develop needed resources before committing the entire corporation to a specific strategy?

Accepted Answer

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

Question 5

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

Accepted Answer

A strategic decision deals with the long

Question 6

In the final phase of strategic management, strategic information is available to

Accepted Answer

A) people throughout the organization. 
B) the top management responsible for decision making. 
C) middle management. 
D) operational personnel. 
E) only those responsible for implementing the strategy. 
A) people throughout the organization. 
B) the top management responsible for decision making. 
C) middle management. 
D) operational personnel. 
E) only those responsible for implementing the strategy.

Question 7

Mintzberg's entrepreneurial mode is sometimes referred to as "muddling through" since this decision- making mode tends to be more reactive than proactive in the search for new opportunities.

Accepted Answer

A) True 
 B)False

Question 8

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 9

According to Mintzberg, the entrepreneurial mode of strategy formulation

Accepted Answer

A) is characterized by reactive solutions to existing problems. 
B) assumes major responsibilities for strategy formulation. 
C) is focused on opportunities seen by one person. 
D) includes the proactive search for new opportunities and reactive solutions to existing problems. 
E) assumes the environment is unresponsive to input. 
A) is characterized by reactive solutions to existing problems. 
B) assumes major responsibilities for strategy formulation. 
C) is focused on opportunities seen by one person. 
D) includes the proactive search for new opportunities and reactive solutions to existing problems. 
E) assumes the environment is unresponsive to input.

Question 10

An organization skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior to reflect new knowledge and insights is a(an)

Accepted Answer

A) learning organization. 
B) strategically managed corporation. 
C) innovative organization. 
D) hypercompetitive competitor. 
E) entrepreneurial firm. 
A) learning organization. 
B) strategically managed corporation. 
C) innovative organization. 
D) hypercompetitive competitor. 
E) entrepreneurial firm.

Question 11

As more industries become global, strategic management is becoming less important in positioning a company for long-term competitive advantage.

Accepted Answer

A) True 
 B)False

Question 12

In the externally oriented planning phase, plans are developed by heavily involving the input of managers from lower levels.

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

The internal environment includes the variables of opportunities and threats.

Accepted Answer

A) True 
 B)False

Question 15

The task environment

Accepted Answer

A) includes those elements or groups within an organization's industry. 
B) encompasses the physical working areas of the organization. 
C) is an accounting of the many jobs within an organization. 
D) is an advisory committee to top-management. 
E) includes general forces that only indirectly affect an organization's activities. 
A) includes those elements or groups within an organization's industry. 
B) encompasses the physical working areas of the organization. 
C) is an accounting of the many jobs within an organization. 
D) is an advisory committee to top-management. 
E) includes general forces that only indirectly affect an organization's activities.

Question 16

Environmental sustainability reflects business practices to reduce a firm's impact on the physical environment.

Accepted Answer

A) True 
 B)False

Question 17

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 S.W.O.T. 
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 S.W.O.T.

Question 18

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

Accepted Answer

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

Question 19

A strategy maximizes competitive advantage and minimizes competitive disadvantage.

Accepted Answer

A) True 
 B)False

Question 20

General Electric led the transition from strategic planning to strategic management during the 1980s.

Accepted Answer

A) True 
 B)False

As defined in this course, a policy is

The T in S.W.O.T.stands for

Strategic planning in a multidivisional corporation

Which approach to decision-making is most useful when the environment is changing rapidly and when it is important to build consensus and develop needed resources before committing the entire corporation to a specific strategy?

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

In the final phase of strategic management, strategic information is available to

Mintzberg's entrepreneurial mode is sometimes referred to as "muddling through" since this decision- making mode tends to be more reactive than proactive in the search for new opportunities.

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

According to Mintzberg, the entrepreneurial mode of strategy formulation

An organization skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior to reflect new knowledge and insights is a(an)

As more industries become global, strategic management is becoming less important in positioning a company for long-term competitive advantage.

In the externally oriented planning phase, plans are developed by heavily involving the input of managers from lower levels.

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

The internal environment includes the variables of opportunities and threats.

The task environment

Environmental sustainability reflects business practices to reduce a firm's impact on the physical environment.

The organization's corporate mission statement

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

A strategy maximizes competitive advantage and minimizes competitive disadvantage.

General Electric led the transition from strategic planning to strategic management during the 1980s.

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

As defined in this course, a policy is

The T in S.W.O.T.stands for

Strategic planning in a multidivisional corporation

Which approach to decision-making is most useful when the environment is changing rapidly and when it is important to build consensus and develop needed resources before committing the entire corporation to a specific strategy?

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

In the final phase of strategic management, strategic information is available to

Mintzberg's entrepreneurial mode is sometimes referred to as "muddling through" since this decision- making mode tends to be more reactive than proactive in the search for new opportunities.

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

According to Mintzberg, the entrepreneurial mode of strategy formulation

An organization skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior to reflect new knowledge and insights is a(an)

As more industries become global, strategic management is becoming less important in positioning a company for long-term competitive advantage.

In the externally oriented planning phase, plans are developed by heavily involving the input of managers from lower levels.

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

The internal environment includes the variables of opportunities and threats.

The task environment

Environmental sustainability reflects business practices to reduce a firm's impact on the physical environment.

The organization's corporate mission statement

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

A strategy maximizes competitive advantage and minimizes competitive disadvantage.

General Electric led the transition from strategic planning to strategic management during the 1980s.

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