STRATEGIC MANAGEMENT
LATEST ACTUAL EXAM 2026
WITH VERIFIED ANSWERS
QUESTIONAnalytical thinking and intuitive thinking ______.
A. are seldom used together
B. are typically at odds with each other
C. complement each other
D. guarantee strategic success
E. are not used in strategic planning - answer-C
QUESTIONThe strategic-management process can be described as an objective,
logical, systematic approach for making major decisions in an organization. However, it
is generally recognized that ______ is essential to making good strategic decisions.
A. ignoring intuition
B. intuition
C. ignorance
D. ignoring change
E. undisciplined intuition - answer-B
The focus of strategic management is ______.
A. increasing return on investment
B. functional planning
C. the profits of the firm
,D. separating all the functional areas of the business to achieve organizational success
E. the integration of all the functional areas of the business to achieve its organizational
objectives - answer-E
QUESTIONThe logical starting point for strategic management is to ______.
A. implement the plan
B. analyze metrics
C. perform a SWOT analysis
D. identify the existing vision, mission, objectives, and strategies
E. hold off-premises retreats - answer-D
QUESTIONThe strategic management process begins with______.
A. strategy implementation
B. strategic opportunity identification
C. strategy formulation
D. strategy evaluation
E. strategic planning - answer-C
QUESTIONIn which stage of the strategic management process is an organization likely
to develop a mission statement?
A. Strategic opportunity identification
B. Strategy evaluation
C. Strategy implementation
D. Strategy formulation
E. Strategic planning - answer-D
,QUESTIONApple's financially lean position with regard to manufacturing facilities
provides the firm with a _______ over Sony, which invests heavily in manufacturing
facilities.
A. competitive advantage
B. strategic advantage
C. comparative advantage
D. sustained competitive advantage
E. disadvantage - answer-A
QUESTIONWhat element of strategic management answers the question "What do we
want to become?"
A. A mission statement
B. A vision statement
C. Specific long-term objectives
D. Environmental scanning
E. A SWOT - answer-B
QUESTIONOne benefit of strategic planning is that it allows a firm to be _______ in
shaping its own future.
A. proactive
B. passive
C. successful
D. reactive
E. unconcerned - answer-A
QUESTIONThree primary intrinsic benefits of strategic planning include ______.
A. less need for lower levels of planning, less need for communication, and greater
commitment
B. increased return on investment, higher profits, and higher employee satisfaction
, C. less need for communication, deeper understanding, and greater commitment
D. enhanced communication, greater commitment, and higher profits
E. enhanced communication, deeper understanding, and greater commitment - answer-
E
QUESTIONSome firms view planning as a waste of time because ______.
A. the process is never-ending
B. the return on investment is too low
C. no product or service is produced
D. the process is too long
E. it is not proven not be successful - answer-C
QUESTIONWhich of the following is a reason some firms do not engage in strategic
planning?
A. They receive no formal training in strategic management.
B. They are being punished for not planning.
C. They know the effort of planning yields monetary rewards.
D. They understand the benefits of planning.
E. They are willing to invest time and effort. - answer-A
QUESTIONWhich of the following is a pitfall of strategic planning?
A. Involving key employees in all phases of the planning
B. Being so formal in planning that flexibility and creativity are stifled
C. Communicating the plan to employees
D. Using plans as standards for measuring performance
E. Obtaining support of the process by top managers - answer-B
LATEST ACTUAL EXAM 2026
WITH VERIFIED ANSWERS
QUESTIONAnalytical thinking and intuitive thinking ______.
A. are seldom used together
B. are typically at odds with each other
C. complement each other
D. guarantee strategic success
E. are not used in strategic planning - answer-C
QUESTIONThe strategic-management process can be described as an objective,
logical, systematic approach for making major decisions in an organization. However, it
is generally recognized that ______ is essential to making good strategic decisions.
A. ignoring intuition
B. intuition
C. ignorance
D. ignoring change
E. undisciplined intuition - answer-B
The focus of strategic management is ______.
A. increasing return on investment
B. functional planning
C. the profits of the firm
,D. separating all the functional areas of the business to achieve organizational success
E. the integration of all the functional areas of the business to achieve its organizational
objectives - answer-E
QUESTIONThe logical starting point for strategic management is to ______.
A. implement the plan
B. analyze metrics
C. perform a SWOT analysis
D. identify the existing vision, mission, objectives, and strategies
E. hold off-premises retreats - answer-D
QUESTIONThe strategic management process begins with______.
A. strategy implementation
B. strategic opportunity identification
C. strategy formulation
D. strategy evaluation
E. strategic planning - answer-C
QUESTIONIn which stage of the strategic management process is an organization likely
to develop a mission statement?
A. Strategic opportunity identification
B. Strategy evaluation
C. Strategy implementation
D. Strategy formulation
E. Strategic planning - answer-D
,QUESTIONApple's financially lean position with regard to manufacturing facilities
provides the firm with a _______ over Sony, which invests heavily in manufacturing
facilities.
A. competitive advantage
B. strategic advantage
C. comparative advantage
D. sustained competitive advantage
E. disadvantage - answer-A
QUESTIONWhat element of strategic management answers the question "What do we
want to become?"
A. A mission statement
B. A vision statement
C. Specific long-term objectives
D. Environmental scanning
E. A SWOT - answer-B
QUESTIONOne benefit of strategic planning is that it allows a firm to be _______ in
shaping its own future.
A. proactive
B. passive
C. successful
D. reactive
E. unconcerned - answer-A
QUESTIONThree primary intrinsic benefits of strategic planning include ______.
A. less need for lower levels of planning, less need for communication, and greater
commitment
B. increased return on investment, higher profits, and higher employee satisfaction
, C. less need for communication, deeper understanding, and greater commitment
D. enhanced communication, greater commitment, and higher profits
E. enhanced communication, deeper understanding, and greater commitment - answer-
E
QUESTIONSome firms view planning as a waste of time because ______.
A. the process is never-ending
B. the return on investment is too low
C. no product or service is produced
D. the process is too long
E. it is not proven not be successful - answer-C
QUESTIONWhich of the following is a reason some firms do not engage in strategic
planning?
A. They receive no formal training in strategic management.
B. They are being punished for not planning.
C. They know the effort of planning yields monetary rewards.
D. They understand the benefits of planning.
E. They are willing to invest time and effort. - answer-A
QUESTIONWhich of the following is a pitfall of strategic planning?
A. Involving key employees in all phases of the planning
B. Being so formal in planning that flexibility and creativity are stifled
C. Communicating the plan to employees
D. Using plans as standards for measuring performance
E. Obtaining support of the process by top managers - answer-B
