CM4223 MIDTERM - KIMBERLY
WILLIAMS
Generally,0external0opportunities0and0threats0are:
A.
uncontrollable0by0a0single0organization
B.
key0functions0in0strategy0implementation
C.
unable0to0have0a0significant0impact0on0an0organization
D.
not0worth0monitoring0and0evaluating
E.
key0functions0in0strategy0exploitation0-0ans✔uncontrollable0by0a0single0organization
The0goal0of0Strategic0Management0is0to:
A.
eliminate0competitive0advantage
B.
achieve0competitive0advantage
C.
maintain0competitive0advantage
D.
achieve0and0maintain0competitive0advantage
E.
eliminate0and0abolish0competitive0advantage0-
0ans✔achieve0and0maintain0competitive0advantage
The0Internet0has0transferred0power0from0________0to0________.
A.
governments;0businesses
B.
businesses;0governments
C.
individuals;0governments
, D.
individuals;0businesses
E.
businesses;0individuals0-0ans✔businesses;0individuals
Long-term0objectives0should0be0all0of0the0following0EXCEPT
A.
reasonable
B.
challenging
C.
consistent
D.
measurable
E.
continually0changing0-0ans✔continually0changing
The0fact0that0Apple0has0no0manufacturing0facilities0of0its0own:
A.has0caused0it0to0build0up0massive0debt0on0its0balance0sheet.
B.means0that0it0is0in0the0same0position0as0Sony.
C.illustrates0that0having0more0fixed0assets0than0rival0firms0can0provide0major0competiti
ve0advantages0in0a0global0recession.
D.has0enabled0it0to0remain0financially0lean.
E.has0been0problematic0for0Apple0in0terms0of0debt.0-
0ans✔has0enabled0it0to0remain0financially0lean.
An0organization's0vision0statement
A.
is0a0constant0reminder0to0its0employees0of0why0the0organization0exists.
B.
broadly0charts0the0future0direction0of0an0organization.
C.
addresses0the0basic0question:0"What0is0our0business?"
D.
answers0the0question:0"What0do0we0want0to0become?"
E.
none0of0the0above0-0ans✔answers0the0question:0"What0do0we0want0to0become?"
The0strategic-
management0process0represents0a(n)0________,0________,0and0________0approach0
for0determining0an0enterprise's0future0direction.
A.inconsistent;0systematic;0subjective
B.logical;0systematic;0subjective
C.logical;0systematic;0objective
D.intuitive;0disorganized;subjective
WILLIAMS
Generally,0external0opportunities0and0threats0are:
A.
uncontrollable0by0a0single0organization
B.
key0functions0in0strategy0implementation
C.
unable0to0have0a0significant0impact0on0an0organization
D.
not0worth0monitoring0and0evaluating
E.
key0functions0in0strategy0exploitation0-0ans✔uncontrollable0by0a0single0organization
The0goal0of0Strategic0Management0is0to:
A.
eliminate0competitive0advantage
B.
achieve0competitive0advantage
C.
maintain0competitive0advantage
D.
achieve0and0maintain0competitive0advantage
E.
eliminate0and0abolish0competitive0advantage0-
0ans✔achieve0and0maintain0competitive0advantage
The0Internet0has0transferred0power0from0________0to0________.
A.
governments;0businesses
B.
businesses;0governments
C.
individuals;0governments
, D.
individuals;0businesses
E.
businesses;0individuals0-0ans✔businesses;0individuals
Long-term0objectives0should0be0all0of0the0following0EXCEPT
A.
reasonable
B.
challenging
C.
consistent
D.
measurable
E.
continually0changing0-0ans✔continually0changing
The0fact0that0Apple0has0no0manufacturing0facilities0of0its0own:
A.has0caused0it0to0build0up0massive0debt0on0its0balance0sheet.
B.means0that0it0is0in0the0same0position0as0Sony.
C.illustrates0that0having0more0fixed0assets0than0rival0firms0can0provide0major0competiti
ve0advantages0in0a0global0recession.
D.has0enabled0it0to0remain0financially0lean.
E.has0been0problematic0for0Apple0in0terms0of0debt.0-
0ans✔has0enabled0it0to0remain0financially0lean.
An0organization's0vision0statement
A.
is0a0constant0reminder0to0its0employees0of0why0the0organization0exists.
B.
broadly0charts0the0future0direction0of0an0organization.
C.
addresses0the0basic0question:0"What0is0our0business?"
D.
answers0the0question:0"What0do0we0want0to0become?"
E.
none0of0the0above0-0ans✔answers0the0question:0"What0do0we0want0to0become?"
The0strategic-
management0process0represents0a(n)0________,0________,0and0________0approach0
for0determining0an0enterprise's0future0direction.
A.inconsistent;0systematic;0subjective
B.logical;0systematic;0subjective
C.logical;0systematic;0objective
D.intuitive;0disorganized;subjective
