MGT 300 Exam 2 Solution Manual Fully Solved Latest Update 2025 Already Passed
Michael Porter defined _____ as an attempt to achieve sustainable competitive advantage by preserving
what is distinct about a company.
A. strategic positioning
B.domestic rivalry
C. cost-leadership
D. economy of scale - Answers A
Which level of strategic management focuses on the organization as a whole?
A. task-level
B. business-level
C. corporate-level
D. functional-level - Answers C
True or false: It is common practice today for most small business owners to engage in strategic
planning.
True
False - Answers B
The "feedback loop" in the strategic-management process involves
,A. revising actions if necessary.
B.understanding employee preference.
C. implementing the strategy.
D. formulating the corporate strategy. - Answers A
In which step of the strategic-management process does an organization establish the mission and
vision statements?
A. Step Five
B. Step Two
C. Step Three
D. Step One
E. Step Four - Answers D
Strategic positioning attempts to achieve sustainable competitive advantage by:
A. preserving what is distinctive about a company
B. changing key aspects of a company's identity
,C. performing similar activities as those of rivals and in similar ways - Answers A
Johanna has been asked by the department manager to prepare a SWOT analysis on two of the
company's products. In which step of the strategic management process would a company use a SWOT
analysis?
A. current reality assessment
B. establish the mission
C. prepare values statement
D. maintain strategic control - Answers A
The president, chief financial officer, and chief operating officer of Jensen Mfg. meet annually to discuss
the direction of the company including what products they will continue to offer and what new products
they will introduce. Which level of strategic management does this represent?
A. functional-level
B. task-level
C. corporate-level
D. business-level - Answers C
When other companies cannot duplicate the value provided by a competitor, then the competitor has
established a(n) _____ competitive advantage.
, A. sustainable
B. VRIO
C. benchmark
D. ambiguous - Answers A
To be successful, strategic planning requires a company to have a _____ orientation.
A.long-term
B. short-term - Answers A
Within a SWOT analysis, the letter "S" represents a company's _____.
A.sources
B. strengths
C. services
D. selection - Answers B
Newly-implemented government regulations have reduced the availability of raw materials for Blair
Woodworking Corp. This would be considered an external organizational ______ in a SWOT analysis.
A. strength
Michael Porter defined _____ as an attempt to achieve sustainable competitive advantage by preserving
what is distinct about a company.
A. strategic positioning
B.domestic rivalry
C. cost-leadership
D. economy of scale - Answers A
Which level of strategic management focuses on the organization as a whole?
A. task-level
B. business-level
C. corporate-level
D. functional-level - Answers C
True or false: It is common practice today for most small business owners to engage in strategic
planning.
True
False - Answers B
The "feedback loop" in the strategic-management process involves
,A. revising actions if necessary.
B.understanding employee preference.
C. implementing the strategy.
D. formulating the corporate strategy. - Answers A
In which step of the strategic-management process does an organization establish the mission and
vision statements?
A. Step Five
B. Step Two
C. Step Three
D. Step One
E. Step Four - Answers D
Strategic positioning attempts to achieve sustainable competitive advantage by:
A. preserving what is distinctive about a company
B. changing key aspects of a company's identity
,C. performing similar activities as those of rivals and in similar ways - Answers A
Johanna has been asked by the department manager to prepare a SWOT analysis on two of the
company's products. In which step of the strategic management process would a company use a SWOT
analysis?
A. current reality assessment
B. establish the mission
C. prepare values statement
D. maintain strategic control - Answers A
The president, chief financial officer, and chief operating officer of Jensen Mfg. meet annually to discuss
the direction of the company including what products they will continue to offer and what new products
they will introduce. Which level of strategic management does this represent?
A. functional-level
B. task-level
C. corporate-level
D. business-level - Answers C
When other companies cannot duplicate the value provided by a competitor, then the competitor has
established a(n) _____ competitive advantage.
, A. sustainable
B. VRIO
C. benchmark
D. ambiguous - Answers A
To be successful, strategic planning requires a company to have a _____ orientation.
A.long-term
B. short-term - Answers A
Within a SWOT analysis, the letter "S" represents a company's _____.
A.sources
B. strengths
C. services
D. selection - Answers B
Newly-implemented government regulations have reduced the availability of raw materials for Blair
Woodworking Corp. This would be considered an external organizational ______ in a SWOT analysis.
A. strength
