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Strategic MGMT Exam Questions with
Correct Answers
Strategic management process Ans: - put in place by leaders
- helps formulate and implement strategy
- foundational for sustainable competitive advantage
Strategy Ans: A set of goal-directed actions a firm takes to gain
and sustain superior performance relative to competitors
Strategic leadership Ans: - use of power and influence
- direct the activities of others
- pursue organizational goals
Effective Vision Ans: - Captures an organization's aspiration
- Identifies what it ultimately wants to accomplish
- Motivate employees to aim for a target
- Leaves room for contributions
Mission statements Ans: - describes what an organization does
- products and services it provides
- markets in which it competes
Strategic commitments Ans: actions to achieve the mission that
are:
- costly
- long-term oriented
- difficult to reverse
Product-oriented vision statements Ans: Defines a business in
terms of a good or service provided.
© 2025 All rights reserved
Strategic MGMT Exam Questions with
Correct Answers
Strategic management process Ans: - put in place by leaders
- helps formulate and implement strategy
- foundational for sustainable competitive advantage
Strategy Ans: A set of goal-directed actions a firm takes to gain
and sustain superior performance relative to competitors
Strategic leadership Ans: - use of power and influence
- direct the activities of others
- pursue organizational goals
Effective Vision Ans: - Captures an organization's aspiration
- Identifies what it ultimately wants to accomplish
- Motivate employees to aim for a target
- Leaves room for contributions
Mission statements Ans: - describes what an organization does
- products and services it provides
- markets in which it competes
Strategic commitments Ans: actions to achieve the mission that
are:
- costly
- long-term oriented
- difficult to reverse
Product-oriented vision statements Ans: Defines a business in
terms of a good or service provided.
© 2025 All rights reserved
