The term “environment” includes all of the following except
1) The term “environment” includes all of the following except
A) air
B) natural resources
C) water
D) firms
E) fauna
2) During what stage of strategic management are a firm’s specific internal strengths and weak-
nesses determined?
A) Evaluation
B) Feedback
C) Implementation
D) Goal-setting
E) Formulation
3) What percent of total sales are estimated to be completed online by 2016?
A) 60 percent
B) 85 percent
C) 15 percent
D) 7 percent
E) 20 percent
4) The one factor that has most significantly impacted the nature and core of buying and selling
in nearly all industries has been
A) customer and employee focus.
B) political borders.
C) the government.
D) the Internet.
E) corporate greed.
5) The first step in strategic planning is generally
A) developing a mission statement.
B) determining opportunities and threats.
C) making a profit.
D) establishing goals and objectives.
E) developing a vision statement.
6) Usually, external opportunities and threats are
A) key functions in strategy implementation.
B) controlled by governments.
C) not as important as internal strengths and weaknesses.
D) uncontrollable by a single organization.
E) key functions in strategy exploitation.
7) Internal ________ are activities in an organization that are performed especially well.
A) management
B) factors
C) competencies
D) strengths
E) opportunities
8) ________ can best be described as short-term in nature.
A) Mission statements
B) Tenure
C) Strategies
D) Management
E) Annual objectives
9) Which of the following is not included in the strategic management model?
A) Establish long-term objectives.
B) Measure and evaluate performance.
C) Perform internal research to identify customers.
D) Implement strategies.
E) Develop mission and vision statements.
10) The act of strengthening employees’ sense of effectiveness by encouraging and rewarding them
to participate in decision-making and exercise initiative and imagination is referred to as
A) authoritarianism.
B) transformation.
C) empowerment.
D) delegation.
E) proaction.
11) The changes that occurred when Robert Iger took over the reigns at Disney, demonstrate which
current trend in organizations?
A) Increased structuring of strategic management
B) Increased decentralizing of strategic management
C) Increased emphasis on strategic planning
D) Increased central planning of the strategic management process
E) Increased formalization of the strategic management process
12) All of these are pitfalls an organization should avoid in strategic planning except
A) failing to involve key employees in all phases of planning.
B) being so formal in planning that flexibility and creativity are stifled.
C) too hastily moving from mission development to strategy formulation.
D) using strategic planning to gain control over decisions and resources.
E) using plans as a standard for measuring performance.
13)What is not a pitfall an organization should avoid in strategic planning?
A) Failing to communicate the plan to employees
B) Top managers not actively supporting the strategic planning process
C) Doing strategic planning only to satisfy accreditation or regulatory requirements
D) Involving all managers rather than delegating planning to a “planner”
14) Which of the following statements is false?
A) Strategic decisions require trade-offs.
B) No organization has unlimited resources.
C) Open-mindedness is an important guideline for effective strategic management.
D) Strategic management must become a self-perpetuating socialist mechanism.
E) Strategic management must be a self-reflective learning process.
15) Which of these business actions is (are) always considered to be unethical?
A) Dumping flawed products in a foreign market
B) Using nonunion labor in a union shop
C) Insider trading
D) Poor product or service safety
E) all of the above
16) Military strategy is based on an assumption of
________, whereas business strategy is based on
________, whereas business strategy is based on
an assumption of ________.
A) cooperation; competition
B) conflict; cooperation
C) cooperation; conflict
D) conflict; competition
E) competition; conflict
17) Which of these basic questions should a vision statement answer?
A) Who are our employees?
B) What is our business?
C) Who are our competitors?
D) Why do we exist?
E) What do we want to become?
18) Who is referred to as “the father of modern management?”
A) Drucker
B) Smith
C) Deming
D) McGinnis
E) Peters
19) The mission statement answers which question?
A) What is our business?
B) What do we want to become?
C) How can we improve ourselves?
D) Who are our stakeholders?
E) How can we increase profitability?
20) Business Week reports that firms using mission statements have ________ percent higher
return on certain financial measures than those without such statements.
A) 15
B) 10
C) 54
D) 57
E) 30
21) What is needed before people can focus on specific strategy formulation activities when developing a mission statement?
A) Compromise
B) Negotiation
C) Eventual agreement
D) A and B
E) all of the above
22) A proactive environmental policy is likely to lead to
A) higher cleanup costs.
B) numerous liability suits.
C) conservation of energy.
D) reduced customer loyalty.
E) higher medical costs.
23) What happened to the production rate of big-rig trucks as a result of new federal regulations on emissions?
A) Production decreased by 40 percent
B) Production increased by 40 percent
C) The change had no impact on production
D) Production increased by 50 percent
E) Production decreased by 50 percent
24) Effective mission statements can vary in
A) specificity.
B) format.
C) content.
D) length.
E) all of the above
25) Which question(s) are answered in an effective mission statement?
A) What is our company philosophy or self-concept?
B) Who are the firm’s customers?
C) What technology will we employ to achieve our objectives?
D) What is the purpose of our organization?
E) all of the above
Text:
Study Guide
Author(s):
Publisher:
Strategic Management: Concepts and Cases
12th Edition, 2009
ISBN- 13: 9780136015703
Fred R. David
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