Exam 1: Basic Concepts in Strategic Management

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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.

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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?

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Which of the following is an example of a policy?

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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?

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Which of the following is not a characteristic of strategic decisions as mentioned in the text?

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The task environment

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Strategic planning in a multidivisional corporation

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

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

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Which of the following is not a part of strategy implementation?

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

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

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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.

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

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

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

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All of the following reflect activities of a learning organization EXCEPT

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The T in SWOT stands for

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A program or tactic is

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Hierarchy of strategy is a nesting of one strategy within another so that they complement and support one another.

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