Question 1

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 ten percent over last year. 
C)  Only acquire companies of 75 employees or more; 75 percent must be engineers. 
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 ten percent over last year. 
C)  Only acquire companies of 75 employees or more; 75 percent must be engineers. 
D)  Develop and sell quality appliances worldwide. 
E)  Diversify from retailing into delivery.

Question 2

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 3

Strategic planning within a small organization

Accepted Answer

A)  may be informal and irregular. 
B)  must be elaborate to allow for future growth. 
C)  should always be formalized and explicitly stated. 
D)  should be done by the president only. 
E)  is unnecessary and a waste of time. 
A)  may be informal and irregular. 
B)  must be elaborate to allow for future growth. 
C)  should always be formalized and explicitly stated. 
D)  should be done by the president only. 
E)  is unnecessary and a waste of time.

Question 4

In a survey of 50 corporations,which of the following was rated as one of the three top benefits of strategic management?

Accepted Answer

A)  clearer sense of strategic vision for the firm 
B)  higher levels of employee motivation 
C)  higher levels of job satisfaction 
D)  improved productivity 
E)  lower employee turnover 
A)  clearer sense of strategic vision for the firm 
B)  higher levels of employee motivation 
C)  higher levels of job satisfaction 
D)  improved productivity 
E)  lower employee turnover

Question 5

IBM under CEO Louis Gerstner and his strategic decision to invest in services in 1993,is an example of which mode of strategic decision-making?

Accepted Answer

A)  adaptive 
B)  entrepreneurial 
C)  logical incrementalism 
D)  planning 
E)  muddling through 
A)  adaptive 
B)  entrepreneurial 
C)  logical incrementalism 
D)  planning 
E)  muddling through

Question 6

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 7

The type of strategy,which describes a company's overall direction in terms of its general attitude toward growth and the management of its various businesses is

Accepted Answer

A)  functional. 
B)  operational. 
C)  business. 
D)  product. 
E)  corporate. 
A)  functional. 
B)  operational. 
C)  business. 
D)  product. 
E)  corporate.

Question 8

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

Accepted Answer

A)  competitors 
B)  economic forces 
C)  resources 
D)  governments 
E)  special interest groups 
A)  competitors 
B)  economic forces 
C)  resources 
D)  governments 
E)  special interest groups

Question 9

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 10

A strategy maximizes competitive advantage and minimizes competitive disadvantage.

Accepted Answer

A) True 
 B)False

Question 11

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 12

A strategic decision is rare,consequential,and directive.

Accepted Answer

A) True 
 B)False

Question 13

Research of the planning practices of companies in the oil industry concludes that the real value of modern strategic planning is more in the ________ that is part of a future-oriented planning process than in any resulting written strategic plan.

Accepted Answer

A)  planning 
B)  strategic thinking and organizational learning 
C)  resulting written strategic plan 
D)  formality of the process 
E)  improved communication within the organization 
A)  planning 
B)  strategic thinking and organizational learning 
C)  resulting written strategic plan 
D)  formality of the process 
E)  improved communication within the organization

Question 14

The corporate mission is best described by which one of the following?

Accepted Answer

A)  a description of the activities carried out by the organization 
B)  the purpose or reason for the corporation's existence 
C)  a description of top management's responsibilities 
D)  a statement of corporate objectives 
E)  a statement of what the organization would like to become 
A)  a description of the activities carried out by the organization 
B)  the purpose or reason for the corporation's existence 
C)  a description of top management's responsibilities 
D)  a statement of corporate objectives 
E)  a statement of what the organization would like to become

Question 15

An example of an objective is "increased profitability," while an example of a goal is "to increase the firm's profitability in 2017 by 15 percent over 2016."

Accepted Answer

A) True 
 B)False

Question 16

The free trade area composed of Argentina,Brazil,Uruguay,Venezuela,and Paraguay is called

Accepted Answer

A)  EU. 
B)  ASEAN. 
C)  NAFTA. 
D)  Mercosur. 
E)  ABUP. 
A)  EU. 
B)  ASEAN. 
C)  NAFTA. 
D)  Mercosur. 
E)  ABUP.

Question 17

The term used to describe new products,services,methods,and organizational approaches that allow businesses to achieve extraordinary returns is

Accepted Answer

A)  ROI. 
B)  innovation. 
C)  competitive advantage. 
D)  sustainability. 
E)  profit maximization. 
A)  ROI. 
B)  innovation. 
C)  competitive advantage. 
D)  sustainability. 
E)  profit maximization.

Question 18

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

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 19

The goal of NAFTA is complete economic integration among Canada,the United States,and Mexico.

Accepted Answer

A) True 
 B)False

Question 20

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.

Which of the following is an example of a policy?

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

Strategic planning within a small organization

In a survey of 50 corporations,which of the following was rated as one of the three top benefits of strategic management?

IBM under CEO Louis Gerstner and his strategic decision to invest in services in 1993,is an example of which mode of strategic decision-making?

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?

The type of strategy,which describes a company's overall direction in terms of its general attitude toward growth and the management of its various businesses is

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

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

A strategy maximizes competitive advantage and minimizes competitive disadvantage.

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

A strategic decision is rare,consequential,and directive.

Research of the planning practices of companies in the oil industry concludes that the real value of modern strategic planning is more in the ________ that is part of a future-oriented planning process than in any resulting written strategic plan.

The corporate mission is best described by which one of the following?

An example of an objective is "increased profitability," while an example of a goal is "to increase the firm's profitability in 2017 by 15 percent over 2016."

The free trade area composed of Argentina,Brazil,Uruguay,Venezuela,and Paraguay is called

The term used to describe new products,services,methods,and organizational approaches that allow businesses to achieve extraordinary returns is

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

The goal of NAFTA is complete economic integration among Canada,the United States,and Mexico.

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

Corporate Governance

Social Responsibility and Ethics in Strategic Management

Environmental Scanning and Industry Analysis

Organizational Analysis and Competitive Advantage

Strategy Formulation: Business Strategy

Strategy Formulation: Corporate Strategy

Strategy Formulation: Functional Strategy and Strategic Choice

Strategy Implementation: Global Strategy

Strategy Implementation: Organizing and Structure

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters

Exam 1: Basic Concepts in Strategic Management

Which of the following is an example of a policy?

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

Strategic planning within a small organization

In a survey of 50 corporations,which of the following was rated as one of the three top benefits of strategic management?

IBM under CEO Louis Gerstner and his strategic decision to invest in services in 1993,is an example of which mode of strategic decision-making?

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?

The type of strategy,which describes a company's overall direction in terms of its general attitude toward growth and the management of its various businesses is

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

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

A strategy maximizes competitive advantage and minimizes competitive disadvantage.

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

A strategic decision is rare,consequential,and directive.

Research of the planning practices of companies in the oil industry concludes that the real value of modern strategic planning is more in the ________ that is part of a future-oriented planning process than in any resulting written strategic plan.

The corporate mission is best described by which one of the following?

An example of an objective is "increased profitability," while an example of a goal is "to increase the firm's profitability in 2017 by 15 percent over 2016."

The free trade area composed of Argentina,Brazil,Uruguay,Venezuela,and Paraguay is called

The term used to describe new products,services,methods,and organizational approaches that allow businesses to achieve extraordinary returns is

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

The goal of NAFTA is complete economic integration among Canada,the United States,and Mexico.

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

Corporate Governance

Social Responsibility and Ethics in Strategic Management

Environmental Scanning and Industry Analysis

Organizational Analysis and Competitive Advantage

Strategy Formulation: Business Strategy

Strategy Formulation: Corporate Strategy

Strategy Formulation: Functional Strategy and Strategic Choice

Strategy Implementation: Global Strategy

Strategy Implementation: Organizing and Structure

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters