BUS 4407-01 Strategic Management
Correct Questions & Answers!!
Which of the following is NOT a component of a thorough strategic management process?
Select one:
a. Strategy dissembling
b. Strategic analysis
c. Strategic choice
d. Strategy implementation - ANSWERa. Strategy dissembling
A comprehensive definition of strategy encompasses which of the following elements?
Select one:
a. Scope
b. Resources
c. Environment
d. All of the above - ANSWERd. All of the above
Which of the following represents a functional level strategy?
Select one:
a. Human resources
b. Marketing
c. Research and development
d. All of the above - ANSWERd. All of the above
After a strategy has been selected, what is the next step in the strategic process?
Select one:
a. Blue sky estimation
b. Legal review
c. Implementation
,d. Tax compliance - ANSWERc. Implementation
Which of the following is an example of a stakeholder in the construction of a new convenience
store?
Select one:
a. A private home immediately adjacent to a small convenience store.
b. The manager of a small convenience store.
c. The government-run airport in the neighboring county.
d. Choices A and B. - ANSWERd. Choices A and B.
Which of the following might be included in an organization's mission statement?
Select one:
a. Geographic areas and markets served
b. Current and future products
c. Profitability and the organization's business type
d. All of the above - ANSWERd. All of the above
Which general approach to strategic management is based on economic theory?
Select one:
a. Communal
b. Sociological
c. Industrial Organizational
d. Venetian - ANSWERc. Industrial Organizational
The collection and subsequent analysis of publicly available information about other organizations in
the same market space is known as:
Select one:
a. A SWOT
b. Competitive intelligence.
c. Datatel.
d. Database construction. - ANSWERb. Competitive intelligence.
, How long into the future should a vision statement look?
Select one:
a. At least five years to set a lofty future state.
b. No more than five years, because the business environment is very turbulent.
c. Five years exactly so that costs can be depreciated for tax reasons.
d. The same period as the mission statement to ensure pairing of resources and objectives. -
ANSWERa. At least five years to set a lofty future state.
What kind of strategy is associated with very specific outcomes or objectives, operation managerial
involvement, and brief time horizons?
Select one:
a. Values-driven
b. Concentric
c. Functional
d. Cooperative - ANSWERc. Functional
Which of the following is NOT one of the three hierarchical levels of strategy?
Select one:
a. Corporate
b. Profit
c. Business unit
d. Functional - ANSWERb. Profit
Which of the following is NOT a benefit of gathering information about competitors?
Select one:
a. Reducing the impact of surprise strategic moves.
b. Enhancing competitive advantag.
c. Protecting against anti-competitive government sanctions.
d. Detecting new competitive threats. - ANSWERc. Protecting against anti-competitive government
sanctions.
Finding a new application for an old product among current users is known as:
Correct Questions & Answers!!
Which of the following is NOT a component of a thorough strategic management process?
Select one:
a. Strategy dissembling
b. Strategic analysis
c. Strategic choice
d. Strategy implementation - ANSWERa. Strategy dissembling
A comprehensive definition of strategy encompasses which of the following elements?
Select one:
a. Scope
b. Resources
c. Environment
d. All of the above - ANSWERd. All of the above
Which of the following represents a functional level strategy?
Select one:
a. Human resources
b. Marketing
c. Research and development
d. All of the above - ANSWERd. All of the above
After a strategy has been selected, what is the next step in the strategic process?
Select one:
a. Blue sky estimation
b. Legal review
c. Implementation
,d. Tax compliance - ANSWERc. Implementation
Which of the following is an example of a stakeholder in the construction of a new convenience
store?
Select one:
a. A private home immediately adjacent to a small convenience store.
b. The manager of a small convenience store.
c. The government-run airport in the neighboring county.
d. Choices A and B. - ANSWERd. Choices A and B.
Which of the following might be included in an organization's mission statement?
Select one:
a. Geographic areas and markets served
b. Current and future products
c. Profitability and the organization's business type
d. All of the above - ANSWERd. All of the above
Which general approach to strategic management is based on economic theory?
Select one:
a. Communal
b. Sociological
c. Industrial Organizational
d. Venetian - ANSWERc. Industrial Organizational
The collection and subsequent analysis of publicly available information about other organizations in
the same market space is known as:
Select one:
a. A SWOT
b. Competitive intelligence.
c. Datatel.
d. Database construction. - ANSWERb. Competitive intelligence.
, How long into the future should a vision statement look?
Select one:
a. At least five years to set a lofty future state.
b. No more than five years, because the business environment is very turbulent.
c. Five years exactly so that costs can be depreciated for tax reasons.
d. The same period as the mission statement to ensure pairing of resources and objectives. -
ANSWERa. At least five years to set a lofty future state.
What kind of strategy is associated with very specific outcomes or objectives, operation managerial
involvement, and brief time horizons?
Select one:
a. Values-driven
b. Concentric
c. Functional
d. Cooperative - ANSWERc. Functional
Which of the following is NOT one of the three hierarchical levels of strategy?
Select one:
a. Corporate
b. Profit
c. Business unit
d. Functional - ANSWERb. Profit
Which of the following is NOT a benefit of gathering information about competitors?
Select one:
a. Reducing the impact of surprise strategic moves.
b. Enhancing competitive advantag.
c. Protecting against anti-competitive government sanctions.
d. Detecting new competitive threats. - ANSWERc. Protecting against anti-competitive government
sanctions.
Finding a new application for an old product among current users is known as:
