STQM PRELIM REVIEWER UPDATED ACTUAL Exam
Questions and CORRECT Answers
EFFECTIVE STRATEGIC PLANNING - scholars have determined that both adaptation and
enactment are important to organizations. They should adapt to environmental forces when the
costs of enacting (influencing) the environment exceed the benefits.
SWOT ANALYSIS - A framework used to evaluate a company's competitive position and to
develop strategic planning.
STRATEGIC DIRECTION - pertains to the longer-term goals and objectives and defines the
purposes for which an organization exists and operates.
INTENT FOCUSED - Built on a managerial vision of where the firm is going and what it is
trying to become. This is called strategic intent.
COMPREHENSIVE - A "systems" perspective. Envisions the firm as a part of a larger system of
value creation. Understands the linkages between the firm and the other parts of the system.
OPPORTUNISTIC - Seizes unanticipated opportunities presented to
the firm.
LONG-TERM ORIENTED - Goes beyond the here and now. Looks several years into the future
at what time the firm will become, based on its strategic intent.
Built on Past and Present - Does not ignore the past or present. Instead,
learns from the past and builds on a foundation of the realities of the present.
, Hypothesis Driven - A sequential process in which creative ideas are then critically evaluated. Is
willing to take a risk. Learns from mistakes.
True - The external environment can be divided into the broad and operating environments. The
operating environment is different for each firm, although similarities may exist among firms in
the same industries.
SCANNING - General indicators—looking for early warning signals from many trends.
MONITORING - Following specific indicators—ongoing observation of key important trends
PROJECTING - Forecasting the impact of key trends on the organization based on monitored
specific changes over time
ADAPTING - Determining what requires change in the organization based on an assessment of
the timing, influence, and importance of specific trends. the key question is how the trends will
affect firm strategy.
SOCIOCULTURAL INFLUENCES - Society is composed of the individuals who make up a
particular geographic region.
ANALYSIS OF SOCIETAL TRENDS - The value of watching social trends is that it helps firms
to understand preferences, strengthen ties with existing customers, and create innovative
products.
GENERATIONAL AND CULTURAL AWARENESS - Culture is defined as an evolving set of
shared beliefs, values, and attitudes that help shape how a social group thinks, sees, acts, and
reacts to various events and situations.
SOCIAL RESPONSIBILITY - Correct assessment of social trends can help businesses avoid
restrictive legislation, which can be a threat to organizational success.
Questions and CORRECT Answers
EFFECTIVE STRATEGIC PLANNING - scholars have determined that both adaptation and
enactment are important to organizations. They should adapt to environmental forces when the
costs of enacting (influencing) the environment exceed the benefits.
SWOT ANALYSIS - A framework used to evaluate a company's competitive position and to
develop strategic planning.
STRATEGIC DIRECTION - pertains to the longer-term goals and objectives and defines the
purposes for which an organization exists and operates.
INTENT FOCUSED - Built on a managerial vision of where the firm is going and what it is
trying to become. This is called strategic intent.
COMPREHENSIVE - A "systems" perspective. Envisions the firm as a part of a larger system of
value creation. Understands the linkages between the firm and the other parts of the system.
OPPORTUNISTIC - Seizes unanticipated opportunities presented to
the firm.
LONG-TERM ORIENTED - Goes beyond the here and now. Looks several years into the future
at what time the firm will become, based on its strategic intent.
Built on Past and Present - Does not ignore the past or present. Instead,
learns from the past and builds on a foundation of the realities of the present.
, Hypothesis Driven - A sequential process in which creative ideas are then critically evaluated. Is
willing to take a risk. Learns from mistakes.
True - The external environment can be divided into the broad and operating environments. The
operating environment is different for each firm, although similarities may exist among firms in
the same industries.
SCANNING - General indicators—looking for early warning signals from many trends.
MONITORING - Following specific indicators—ongoing observation of key important trends
PROJECTING - Forecasting the impact of key trends on the organization based on monitored
specific changes over time
ADAPTING - Determining what requires change in the organization based on an assessment of
the timing, influence, and importance of specific trends. the key question is how the trends will
affect firm strategy.
SOCIOCULTURAL INFLUENCES - Society is composed of the individuals who make up a
particular geographic region.
ANALYSIS OF SOCIETAL TRENDS - The value of watching social trends is that it helps firms
to understand preferences, strengthen ties with existing customers, and create innovative
products.
GENERATIONAL AND CULTURAL AWARENESS - Culture is defined as an evolving set of
shared beliefs, values, and attitudes that help shape how a social group thinks, sees, acts, and
reacts to various events and situations.
SOCIAL RESPONSIBILITY - Correct assessment of social trends can help businesses avoid
restrictive legislation, which can be a threat to organizational success.
