Test Bank for Strategic Management A Competitive Advantage Approach, Concepts and Cases 17th Edition By Fred David, Forest David, Meredith David (All Chapters, 100% Original Verified, A+ Grade)

Strategic Management A Competitive Advantage Approach, Concepts and Cases
17e Fred David, Forest David, Meredith David (Test Bank All Chapters, 100%
Original Verified, A+ Grade)
Strategic Management: A Competitive Advantage Approach, 17e (David/David)
Chapter 1 The Nature of Strategic Management

1) The goal of strategic management is to
A) achieve competitive advantage.
B) maintain competitive advantage.
C) achieve and maintain competitive advantage.
D) eliminate competitive advantage.
E) eliminate and abolish competitive advantage.
Answer: C
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Analytical thinking

2) Strategic management focuses on integrating functional areas to achieve organizational
success. Which of the following is NOT one of the functional areas that is the focus of strategic
management?
A) marketing
B) finance and accounting
C) production and operations
D) research and development
E) organizational behavior
Answer: E
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Reflective thinking

3) 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
Answer: D
Diff: 1
LO: 1.1: Describe the strategic-management process.
AACSB: Reflective thinking




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,4) To gain ________ firms need to provide unique products and services.
A) a bank loan
B) governmental legitimacy
C) a sustainable competitive advantage
D) competitors
E) export orders
Answer: C
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Analytical thinking

5) The strategic-management process is becoming more widely used by
A) small firms.
B) nonprofit institutions.
C) governmental organizations.
D) multinational conglomerates.
E) all types of organizations.
Answer: E
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Reflective thinking

6) An organization should take a(n) ________ approach in its industry.
A) adversarial rather than a collegial
B) collegial rather than an adversarial
C) reactive rather than a proactive
D) proactive rather than a reactive
E) cooperative rather than a competitive
Answer: D
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Reflective thinking

7) The strategic-management process
A) occurs once a year.
B) is a semiannual process.
C) is a continuous process.
D) applies mostly to companies with sales greater than $100 million.
E) applies mostly to small businesses.
Answer: C
Diff: 3
LO: 1.1: Describe the strategic-management process.
AACSB: Analytical thinking




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,8) Sometimes ________ is used to refer to strategic formulation, implementation and evaluation,
with ________ referring only to strategic formulation.
A) strategic planning; strategic management
B) strategic planning; strategic processing
C) strategic management; strategic planning
D) strategic management; strategic processing
E) strategic implementation; strategic focus
Answer: C
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Reflective thinking

9) The terms "strategic management" and "strategic planning" are used synonymously in this
text.
Answer: TRUE
Diff: 1
LO: 1.1: Describe the strategic-management process.
AACSB: Reflective thinking

10) Strategic management focuses on integrating management, marketing, finance and
accounting, production and operations, research and development, and information systems to
achieve organizational success.
Answer: TRUE
Diff: 1
LO: 1.1: Describe the strategic-management process.
AACSB: Reflective thinking

11) Optimizing for tomorrow the trends of today is the purpose of strategic management.
Answer: FALSE
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Reflective thinking

12) U.S. firms are not being aggressively challenged in the computer industry.
Answer: FALSE
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Analytical thinking

13) By occasionally monitoring external events, companies should be able to identify when
change is required.
Answer: FALSE
Diff: 3
LO: 1.1: Describe the strategic-management process.
AACSB: Analytical thinking



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, 14) Application of the strategic-management process is typically more formal in larger and well-
established organizations.
Answer: TRUE
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Reflective thinking

15) To be effective, strategic-management must be a process that familiarizes managers and
employees with the key strategic issues facing an organization and the feasible alternatives for
resolving those issues.
Answer: TRUE
Diff: 3
LO: 1.1: Describe the strategic-management process.
AACSB: Analytical thinking

16) The most effective strategic management is ritualistic, predictable, and formal.
Answer: FALSE
Diff: 3
LO: 1.1: Describe the strategic-management process.
AACSB: Analytical thinking

17) All firms have a strategy, even if it is informal, unstructured, and sporadic.
Answer: TRUE
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Reflective thinking

18) Despite its great popularity in the 1980s, strategic planning by corporate America is now a
valuable though rare activity.
Answer: FALSE
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Analytical thinking

19) The strengths and weaknesses of an organization are determined relative to the strengths and
weaknesses of its competitors.
Answer: TRUE
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Reflective thinking




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Copyright © 2020 Pearson Education, Inc.