MGT 300 STUDY GUIDE Q&A 2025/2026
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 - 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 - C
True or false: It is common practice today for most small business owners to engage in strategic
planning.
True
False - 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. - 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 - 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 - 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 - 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 - 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 - A
, To be successful, strategic planning requires a company to have a _____ orientation.
A.long-term
B. short-term - A
Within a SWOT analysis, the letter "S" represents a company's _____.
A.sources
B. strengths
C. services
D. selection - 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
B. weakness
C. threat
D. opportunities - C
Jordan plans to open a computer repair business this summer. As he plans, he writes down the long-
term goals of the business so he can decide where he wants to go strategically. Which stage of the
strategic management process is Jordan in?
A. Execute the strategies
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 - 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 - C
True or false: It is common practice today for most small business owners to engage in strategic
planning.
True
False - 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. - 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 - 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 - 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 - 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 - 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 - A
, To be successful, strategic planning requires a company to have a _____ orientation.
A.long-term
B. short-term - A
Within a SWOT analysis, the letter "S" represents a company's _____.
A.sources
B. strengths
C. services
D. selection - 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
B. weakness
C. threat
D. opportunities - C
Jordan plans to open a computer repair business this summer. As he plans, he writes down the long-
term goals of the business so he can decide where he wants to go strategically. Which stage of the
strategic management process is Jordan in?
A. Execute the strategies
