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COBA Core MGT 4300 (Strat Pol)
Questions with Detailed Verified
Answers
1) What can be defined as the art and science of formulating,
implementing and evaluating cross-functional decisions that
enable an organization to achieve its objectives?
A) Strategy formulation
B) Strategy evaluation
C) Strategy implementation
D) Strategic management
E) Strategic leading Ans: *D) Strategic management
2) During what stage of strategic management are a firm's
specific internal strengths and weaknesses determined?
A) Formulation
B) Implementation
C) Evaluation
D) Feedback
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E) Goal-setting Ans: *A) Formulation
3) An important activity in ________ is taking corrective action.
A) strategy evaluation
B) strategy implementation
C) strategy formulation
D) strategy leadership
E) all of the above Ans: *A) strategy evaluation
4) Which phase of strategic management is called the action
phase?
A) Strategy formulation
B) Strategy implementation
C) Strategy evaluation
D) Allocating resources
E) Measuring performance Ans: *B) Strategy implementation
5) Anything that a firm does especially well compared to rival firms
is referred to as
A) competitive advantage.
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B) comparative advantage.
C) opportunity cost.
D) sustainable advantage.
E) an external opportunity. Ans: *A) competitive advantage.
6) The fact that Apple has no manufacturing facilities of its own
A) has caused it to build up massive debt on its balance sheet.
B) has enabled it to remain financially lean with virtually no long-
term debt.
C) has been problematic for Apple in terms of debt.
D) illustrates that having more fixed assets than rival firms can
provide major competitive advantages in a global recession.
E) means that it is in the same position as Sony. Ans: *B) has
enabled it to remain financially lean with virtually no long-term
debt.
7) Which individuals are most responsible for the success and
failure of an organization?
A) Strategists
B) Financial planners
C) Personnel directors
COBA Core MGT 4300 (Strat Pol)
Questions with Detailed Verified
Answers
1) What can be defined as the art and science of formulating,
implementing and evaluating cross-functional decisions that
enable an organization to achieve its objectives?
A) Strategy formulation
B) Strategy evaluation
C) Strategy implementation
D) Strategic management
E) Strategic leading Ans: *D) Strategic management
2) During what stage of strategic management are a firm's
specific internal strengths and weaknesses determined?
A) Formulation
B) Implementation
C) Evaluation
D) Feedback
, Page | 2
E) Goal-setting Ans: *A) Formulation
3) An important activity in ________ is taking corrective action.
A) strategy evaluation
B) strategy implementation
C) strategy formulation
D) strategy leadership
E) all of the above Ans: *A) strategy evaluation
4) Which phase of strategic management is called the action
phase?
A) Strategy formulation
B) Strategy implementation
C) Strategy evaluation
D) Allocating resources
E) Measuring performance Ans: *B) Strategy implementation
5) Anything that a firm does especially well compared to rival firms
is referred to as
A) competitive advantage.
, Page | 3
B) comparative advantage.
C) opportunity cost.
D) sustainable advantage.
E) an external opportunity. Ans: *A) competitive advantage.
6) The fact that Apple has no manufacturing facilities of its own
A) has caused it to build up massive debt on its balance sheet.
B) has enabled it to remain financially lean with virtually no long-
term debt.
C) has been problematic for Apple in terms of debt.
D) illustrates that having more fixed assets than rival firms can
provide major competitive advantages in a global recession.
E) means that it is in the same position as Sony. Ans: *B) has
enabled it to remain financially lean with virtually no long-term
debt.
7) Which individuals are most responsible for the success and
failure of an organization?
A) Strategists
B) Financial planners
C) Personnel directors
