Strategic Management Exam
What can be defined as the art and Strategic Management
science of formulating, implementing
and evaluating cross-functional decisions
that enable an organization to achieve its
objectives?
What types of skills are especially critical E. Interpersonal
for successful strategy implementation?
A. Marketing
B. Technical
C. Visionary
D. Conceptual
E. Interpersonal
Military strategy is based on an Conflict; Competition
assumption of ________, whereas business
strategy is based on an assumption of
________.
A. conflict; cooperation
B. conflict; competition
C. cooperation; conflict
D. competition; conflict
E. cooperation; competition
, Strategic Management Exam
________ is NOT a strategy-implementation A. Taking corrective actions
activity.
A. Taking corrective actions
B. Establishing annual objectives
C. Devising policies
D. Allocating resources
E. Motivating employees
The strategic-management process is E. All types of organizations
becoming more widely used by
A. small firms.
B. nonprofit institutions.
C. governmental organizations.
D. multinational conglomerates.
E. All types of organizations
What are enduring statements of B. Mission Statements
purpose that distinguish one business
from other similar firms?
A. Employee conduct guidelines
B. Mission statements
C. Objectives
D. Policies
E. Rules
What are the means by which long-term Strategies
objectives will be achieved?
, Strategic Management Exam
what is considered to be the first step in B. Developing a vision statement
strategic planning, most of the time?
A. Securing capital to operate
B. Developing a vision statement
C. Devising a Mission Statement
D. Establishing objectives
E. Obtaining shareholders or financial
supporters
The goal of strategic management is to C. Achieve and maintain competitive advantage
A. achieve competitive advantage.
B. maintain competitive advantage.
C. achieve and maintain competitive
advantage.
D. eliminate competitive advantage.
E. eliminate and abolish competitive
advantage.
An important activity in ________ is taking A. Strategy Evaluation
corrective action.
A. strategy evaluation
B. strategy implementation
C. strategy formulation
D. strategy leadership
E. all of the above
, Strategic Management Exam
In which phase of strategic management A. Formulation
are long-term objectives especially
important?
A. Formulation
B. Control
C. Evaluation
D. Implementation
E. Management
Which statement best describes C. It should be coupled with analysis in decision-making.
intuition?
A. It represents the marginal factor in
decision-making.
B. It represents a minor factor in
decision-making integrated with analysis.
C. It should be coupled with analysis in
decision-making.
D. It is better than analysis in decision-
making.
E. It is management by ignorance.
To gain ________ firms need to provide A sustainable competitive advantage
unique products and services.
What can be defined as the art and Strategic Management
science of formulating, implementing
and evaluating cross-functional decisions
that enable an organization to achieve its
objectives?
What types of skills are especially critical E. Interpersonal
for successful strategy implementation?
A. Marketing
B. Technical
C. Visionary
D. Conceptual
E. Interpersonal
Military strategy is based on an Conflict; Competition
assumption of ________, whereas business
strategy is based on an assumption of
________.
A. conflict; cooperation
B. conflict; competition
C. cooperation; conflict
D. competition; conflict
E. cooperation; competition
, Strategic Management Exam
________ is NOT a strategy-implementation A. Taking corrective actions
activity.
A. Taking corrective actions
B. Establishing annual objectives
C. Devising policies
D. Allocating resources
E. Motivating employees
The strategic-management process is E. All types of organizations
becoming more widely used by
A. small firms.
B. nonprofit institutions.
C. governmental organizations.
D. multinational conglomerates.
E. All types of organizations
What are enduring statements of B. Mission Statements
purpose that distinguish one business
from other similar firms?
A. Employee conduct guidelines
B. Mission statements
C. Objectives
D. Policies
E. Rules
What are the means by which long-term Strategies
objectives will be achieved?
, Strategic Management Exam
what is considered to be the first step in B. Developing a vision statement
strategic planning, most of the time?
A. Securing capital to operate
B. Developing a vision statement
C. Devising a Mission Statement
D. Establishing objectives
E. Obtaining shareholders or financial
supporters
The goal of strategic management is to C. Achieve and maintain competitive advantage
A. achieve competitive advantage.
B. maintain competitive advantage.
C. achieve and maintain competitive
advantage.
D. eliminate competitive advantage.
E. eliminate and abolish competitive
advantage.
An important activity in ________ is taking A. Strategy Evaluation
corrective action.
A. strategy evaluation
B. strategy implementation
C. strategy formulation
D. strategy leadership
E. all of the above
, Strategic Management Exam
In which phase of strategic management A. Formulation
are long-term objectives especially
important?
A. Formulation
B. Control
C. Evaluation
D. Implementation
E. Management
Which statement best describes C. It should be coupled with analysis in decision-making.
intuition?
A. It represents the marginal factor in
decision-making.
B. It represents a minor factor in
decision-making integrated with analysis.
C. It should be coupled with analysis in
decision-making.
D. It is better than analysis in decision-
making.
E. It is management by ignorance.
To gain ________ firms need to provide A sustainable competitive advantage
unique products and services.
