1|Page
STRATEGIC MANAGEMENT ACTUAL
EXAM PREP 2026 ALL QUESTIONS AND
CORRECT DETAILED ANSWERS ALREADY
A GRADED WITH EXPERT FEEDBACK
|NEW AND REVISED
What 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
One benefit of strategic planning is that it allows a firm to be _______ in
shaping its own future.
A. proactive
B. passive
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C. successful
D. reactive
E. unconcerned - ANSWER- A
Three 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
Some firms view planning as a waste of time because ______.
A. the process is never-ending
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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
Which 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
Which of the following is a pitfall of strategic planning?
A. Involving key employees in all phases of the planning
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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
Which of the following is NOT a pitfall of strategic planning?
A. Not using plans as standards for measuring performance
B. Viewing planning as unnecessary or unimportant
C. Using strategic planning to gain control over decisions and resources
D. Top managers making many intuitive decisions that conflict with the
formal plan
E. Involving key employees in all phases of planning - ANSWER- E
Historically, where did strategic planning originate?
A. Game play
STRATEGIC MANAGEMENT ACTUAL
EXAM PREP 2026 ALL QUESTIONS AND
CORRECT DETAILED ANSWERS ALREADY
A GRADED WITH EXPERT FEEDBACK
|NEW AND REVISED
What 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
One benefit of strategic planning is that it allows a firm to be _______ in
shaping its own future.
A. proactive
B. passive
,2|Page
C. successful
D. reactive
E. unconcerned - ANSWER- A
Three 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
Some firms view planning as a waste of time because ______.
A. the process is never-ending
,3|Page
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
Which 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
Which of the following is a pitfall of strategic planning?
A. Involving key employees in all phases of the planning
, 4|Page
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
Which of the following is NOT a pitfall of strategic planning?
A. Not using plans as standards for measuring performance
B. Viewing planning as unnecessary or unimportant
C. Using strategic planning to gain control over decisions and resources
D. Top managers making many intuitive decisions that conflict with the
formal plan
E. Involving key employees in all phases of planning - ANSWER- E
Historically, where did strategic planning originate?
A. Game play
