COBA COMPREHENSIVE EXAM STUDY
GUIDE COMPLETE QUESTIONS AND
SOLUTIONS
●● During what stage of strategic management are a firm's specific
internal strengths and weaknesses determined?
A) Formulation
B) Implementation
C) Evaluation
D) Feedback
E) Goal-setting
Answer: a. (formulation)
●● 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
Answer: a. (strategy evaluation)
,●● 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
Answer: b. (strategy implementation)
●● Anything that a firm does especially well compared to rival firms is
referred to as
A) competitive advantage.
B) comparative advantage.
C) opportunity cost.
D) sustainable advantage.
E) an external opportunity.
Answer: a. (competitive advantage)
●● 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.
Answer: b. (has enabled it to remain financially lean with virtually no
long-term debt)
●● Which individuals are most responsible for the success and failure of
an organization?
A) Strategists
B) Financial planners
C) Personnel directors
D) Stakeholders
E) Human resource managers
Answer: a. (strategists)
●● An organization's vision statement
GUIDE COMPLETE QUESTIONS AND
SOLUTIONS
●● During what stage of strategic management are a firm's specific
internal strengths and weaknesses determined?
A) Formulation
B) Implementation
C) Evaluation
D) Feedback
E) Goal-setting
Answer: a. (formulation)
●● 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
Answer: a. (strategy evaluation)
,●● 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
Answer: b. (strategy implementation)
●● Anything that a firm does especially well compared to rival firms is
referred to as
A) competitive advantage.
B) comparative advantage.
C) opportunity cost.
D) sustainable advantage.
E) an external opportunity.
Answer: a. (competitive advantage)
●● 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.
Answer: b. (has enabled it to remain financially lean with virtually no
long-term debt)
●● Which individuals are most responsible for the success and failure of
an organization?
A) Strategists
B) Financial planners
C) Personnel directors
D) Stakeholders
E) Human resource managers
Answer: a. (strategists)
●● An organization's vision statement
