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Chapter 02 AA
AAStrategy Formulation, Execution, and Governan
AA AA AA AA
ce
MultipleAA ChoiceAA Questions
1. WhichAAoneAAofAAtheAAfollowingAAisAAnotAAoneAAofAAtheAAfiveAAstagesAAofAAanAAongoing,AAcontinu
ousAAstrategicAAmanagementAAprocess?
A. formingAAaAAstrategicAAvisionAAofAAtheAAcompany'sAAfutureAAdirectionAAandAAfocus
B. settingAAobjectivesAAtoAAmeasureAAprogressAAtowardAAachievingAAtheAAstrategicAAvision
C. craftingAAaAAstrategyAAtoAAachieveAAtheAAobjectivesAAandAAgetAAtheAAcompanyAAwhereAAitAAwantsAAtoAAgo
D. developingAAaAAprofitableAAbusinessAAmodel
E. implementingAAandAAexecutingAAtheAAchosenAAstrategyAAefficientlyAAandAAeffectively
2. WhichAAofAAtheAAfollowingAAisAAanAAintegralAApartAAofAAtheAAmanagerialAAprocessAAofAAcraftingAAan
dAAexecutingAAstrategy?
A. developingAAaAAprovenAAbusinessAAmodel
B. settingAAobjectivesAAandAAusingAAthemAAasAAyardsticksAAforAAmeasuringAAtheAAcompany'sAAperform
anceAAandAAprogress
C. decidingAAhowAAmuchAAofAAtheAAcompany'sAAresourcesAAtoAAemployAAinAAtheAApursuitAAofAAsustainableAA
competitiveAAadvantage
D. communicatingAAtheAAcompany'sAAmissionAAandAApurposeAAtoAAallAAemployees
E. decidingAAonAAtheAAcompositionAAofAAtheAAcompany'sAAboardAAofAAdirectors
2-1
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3. WhenAAcompaniesAAadoptAAtheAAstrategyAAmaking,AAstrategyAAexecutionAAprocess,AAitAArequiresAAtheyAAsta
rtAAby
A. developingAAaAAstrategicAAvision,AAmission,AAandAAvalues.
B. developingAAaAAprovenAAbusinessAAmodel,AAdecidingAAonAAtheAAcompany'sAAtopAAmanagementAAt
eam,AAandAAcraftingAAaAAstrategy.
C. settingAAobjectives,AAdevelopingAAaAAbusinessAAmodel,AAcraftingAAaAAstrategy,AAandAAdecidingAAhowAAm
uchAAofAAtheAAcompany'sAAresourcesAAtoAAemployAAinAAtheAApursuitAAofAAsustainableAAcompetitiveAAadv
antage.
D. comingAAupAAwithAAaAAstatementAAofAAtheAAcompany'sAAmissionAAandAAcommunicatingAAitAAtoAAallAA
employees,AAsettingAAobjectives,AAselectingAAaAAbusinessAAmodel,AAandAAmonitoringAAdevelopm
entsAAandAAinitiatingAAcorrectiveAAadjustmentsAAtoAAtheAAbusinessAAmodelAAwhenAAnecessary.
E. decidingAAonAAtheAAcompany'sAAboardAAofAAdirectors,AAsettingAAfinancialAAobjectives,AAcraftingAAaAAstr
ategy,AAandAAchoosingAAwhatAAbusinessAAapproachesAAandAAoperatingAApracticesAAtoAAemploy.
4. TheAAstrategicAAmanagementAAprocessAAisAAshapedAAby
A. management'sAAstrategicAAvision,AAstrategicAAandAAfinancialAAobjectives,AAandAAstrategy.
B. theAAdecisionsAAmadeAAbyAAtheAAcompensationAAandAAauditAAcommitteesAAofAAtheAAboardAAofAAdirectors.
C. externalAAfactorsAAsuchAAasAAtheAAindustry'sAAeconomicAAandAAcompetitiveAAconditionsAAandAAintern
alAAfactorsAAsuchAAasAAtheAAcompany'sAAcollectionAAofAAresourcesAAandAAcapabilities.
D. aAAcompany'sAAcustomerAAvalueAApropositionAAandAAprofitAAformula.
E. actionsAAtoAAstrengthenAAcompetitiveAAcapabilitiesAAandAAcorrectAAweaknesses,AAactionsAAtoAAstren
gthenAAmarketAAstandingAAandAAcompetitivenessAAbyAAacquiringAAorAAmergingAAwithAAotherAAcompani
es,AAandAAactionsAAtoAAenterAAnewAAgeographicAAorAAproductAAmarkets.
5. WhenAAaAAcompanyAAisAAconfrontedAAwithAAsignificantAAindustryAAchangeAAthatAAmandatesAAradicalAArev
isionAAofAAitsAAstrategicAAcourse,AAtheAAcompanyAAisAAsaidAAtoAAhaveAAencounteredAAa(n)
A. learningAAandAAgrowthAAperspective.
B. strategicAAinflectionAApoint.
C. strategicAAroadblock.
D. newAAstrategicAAopportunity.
E. opportunityAAforAAcorporateAAentrepreneurship.
2-2
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6. AAAcompany'sAAstrategicAAplanAAconsistsAAof
A. itsAAbalancedAAscorecardAAandAAitsAAbusinessAAmodel.
B. aAAvisionAAofAAwhereAAitAAisAAheaded,AAaAAsetAAofAAperformanceAAtargets,AAandAAaAAstrategyAAtoAAachieve
AAthem.
C. itsAAstrategyAAandAAmanagement'sAAspecific,AAdetailedAAplansAAforAAimplementingAAit.
D. aAAcompany'sAAplansAAforAAimprovingAAvalue-creatingAAinternalAAprocesses.
E. aAAstrategicAAvision,AAaAAstrategy,AAandAAaAAbusinessAAmodel.
7. TheAAstrategy-making,AAstrategy-executingAAprocess
A. isAAusuallyAAdelegatedAAtoAAmembersAAofAAaAAcompany'sAAboardAAofAAdirectorsAAsoAAasAAnotAAtoAAinfring
eAAonAAtheAAtimeAAofAAbusyAAexecutives.
B. includesAAestablishingAAaAAcompany'sAAmission,AAdevelopingAAaAAbusinessAAmodelAAaimedAAatAAmakin
gAAtheAAcompanyAAanAAindustryAAleader,AAandAAcraftingAAaAAstrategyAAtoAAimplementAAandAAexecuteAAth
eAAbusinessAAmodel.
C. embracesAAtheAAtasksAAofAAdevelopingAAaAAstrategicAAvision,AAsettingAAobjectives,AAcraftingAAa
AA strategy,AAimplementingAAandAAexecutingAAtheAAstrategy,AAandAAthenAAmonitoringAAdevelop
mentsAAandAAinitiatingAAcorrectiveAAadjustmentsAAinAAlightAAofAAexperience,AAchangingAAcondit
ions,AAandAAnewAAopportunities.
D. isAAprincipallyAAconcernedAAwithAAsizingAAupAAanAAorganization'sAAinternalAAandAAexternalAAsituation,AAs
oAAasAAtoAAbeAApreparedAAforAAtheAAchallengeAAofAAdevelopingAAaAAsoundAAbusinessAAmodel.
E. isAAprimarilyAAtheAAresponsibilityAAofAAtopAAexecutivesAAandAAtheAAboardAAofAAdirectors;AAveryAAfew
AAmanagersAAbelowAAthisAAlevelAAareAAinvolved.
8. AAAcompany'sAAstrategicAAvisionAAconcerns
A. aAAcompany'sAAdirectionalAApathAAandAAfutureAAproduct-customer-market-technologyAAfocus.
B. whyAAtheAAcompanyAAdoesAAcertainAAthingsAAinAAtryingAAtoAApleaseAAitsAAcustomers.
C. management'sAAstoryAAlineAAofAAhowAAitAAintendsAAtoAAmakeAAaAAprofitAAwithAAtheAAchosenAAstrategy.
D. "whoAAweAAareAAandAAwhatAAweAAdo."
E. whatAAfutureAAactionsAAtheAAenterpriseAAwillAAlikelyAAundertakeAAtoAAoutmaneuverAArivalsAAandAA
achieveAAaAAsustainableAAcompetitiveAAadvantage.
2-3
Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill
Education.
mynursytest.store
for Competitive Advantage 5th Edition Gamble
Chapter 02 AA
AAStrategy Formulation, Execution, and Governan
AA AA AA AA
ce
MultipleAA ChoiceAA Questions
1. WhichAAoneAAofAAtheAAfollowingAAisAAnotAAoneAAofAAtheAAfiveAAstagesAAofAAanAAongoing,AAcontinu
ousAAstrategicAAmanagementAAprocess?
A. formingAAaAAstrategicAAvisionAAofAAtheAAcompany'sAAfutureAAdirectionAAandAAfocus
B. settingAAobjectivesAAtoAAmeasureAAprogressAAtowardAAachievingAAtheAAstrategicAAvision
C. craftingAAaAAstrategyAAtoAAachieveAAtheAAobjectivesAAandAAgetAAtheAAcompanyAAwhereAAitAAwantsAAtoAAgo
D. developingAAaAAprofitableAAbusinessAAmodel
E. implementingAAandAAexecutingAAtheAAchosenAAstrategyAAefficientlyAAandAAeffectively
2. WhichAAofAAtheAAfollowingAAisAAanAAintegralAApartAAofAAtheAAmanagerialAAprocessAAofAAcraftingAAan
dAAexecutingAAstrategy?
A. developingAAaAAprovenAAbusinessAAmodel
B. settingAAobjectivesAAandAAusingAAthemAAasAAyardsticksAAforAAmeasuringAAtheAAcompany'sAAperform
anceAAandAAprogress
C. decidingAAhowAAmuchAAofAAtheAAcompany'sAAresourcesAAtoAAemployAAinAAtheAApursuitAAofAAsustainableAA
competitiveAAadvantage
D. communicatingAAtheAAcompany'sAAmissionAAandAApurposeAAtoAAallAAemployees
E. decidingAAonAAtheAAcompositionAAofAAtheAAcompany'sAAboardAAofAAdirectors
2-1
Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill
Education.
mynursytest.store
,DOWNLOAD THE Test Bank for Essentials of Strategic Management The Quest
for Competitive Advantage 5th Edition Gamble
3. WhenAAcompaniesAAadoptAAtheAAstrategyAAmaking,AAstrategyAAexecutionAAprocess,AAitAArequiresAAtheyAAsta
rtAAby
A. developingAAaAAstrategicAAvision,AAmission,AAandAAvalues.
B. developingAAaAAprovenAAbusinessAAmodel,AAdecidingAAonAAtheAAcompany'sAAtopAAmanagementAAt
eam,AAandAAcraftingAAaAAstrategy.
C. settingAAobjectives,AAdevelopingAAaAAbusinessAAmodel,AAcraftingAAaAAstrategy,AAandAAdecidingAAhowAAm
uchAAofAAtheAAcompany'sAAresourcesAAtoAAemployAAinAAtheAApursuitAAofAAsustainableAAcompetitiveAAadv
antage.
D. comingAAupAAwithAAaAAstatementAAofAAtheAAcompany'sAAmissionAAandAAcommunicatingAAitAAtoAAallAA
employees,AAsettingAAobjectives,AAselectingAAaAAbusinessAAmodel,AAandAAmonitoringAAdevelopm
entsAAandAAinitiatingAAcorrectiveAAadjustmentsAAtoAAtheAAbusinessAAmodelAAwhenAAnecessary.
E. decidingAAonAAtheAAcompany'sAAboardAAofAAdirectors,AAsettingAAfinancialAAobjectives,AAcraftingAAaAAstr
ategy,AAandAAchoosingAAwhatAAbusinessAAapproachesAAandAAoperatingAApracticesAAtoAAemploy.
4. TheAAstrategicAAmanagementAAprocessAAisAAshapedAAby
A. management'sAAstrategicAAvision,AAstrategicAAandAAfinancialAAobjectives,AAandAAstrategy.
B. theAAdecisionsAAmadeAAbyAAtheAAcompensationAAandAAauditAAcommitteesAAofAAtheAAboardAAofAAdirectors.
C. externalAAfactorsAAsuchAAasAAtheAAindustry'sAAeconomicAAandAAcompetitiveAAconditionsAAandAAintern
alAAfactorsAAsuchAAasAAtheAAcompany'sAAcollectionAAofAAresourcesAAandAAcapabilities.
D. aAAcompany'sAAcustomerAAvalueAApropositionAAandAAprofitAAformula.
E. actionsAAtoAAstrengthenAAcompetitiveAAcapabilitiesAAandAAcorrectAAweaknesses,AAactionsAAtoAAstren
gthenAAmarketAAstandingAAandAAcompetitivenessAAbyAAacquiringAAorAAmergingAAwithAAotherAAcompani
es,AAandAAactionsAAtoAAenterAAnewAAgeographicAAorAAproductAAmarkets.
5. WhenAAaAAcompanyAAisAAconfrontedAAwithAAsignificantAAindustryAAchangeAAthatAAmandatesAAradicalAArev
isionAAofAAitsAAstrategicAAcourse,AAtheAAcompanyAAisAAsaidAAtoAAhaveAAencounteredAAa(n)
A. learningAAandAAgrowthAAperspective.
B. strategicAAinflectionAApoint.
C. strategicAAroadblock.
D. newAAstrategicAAopportunity.
E. opportunityAAforAAcorporateAAentrepreneurship.
2-2
Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill
Education.
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, DOWNLOAD THE Test Bank for Essentials of Strategic Management The Quest
for Competitive Advantage 5th Edition Gamble
6. AAAcompany'sAAstrategicAAplanAAconsistsAAof
A. itsAAbalancedAAscorecardAAandAAitsAAbusinessAAmodel.
B. aAAvisionAAofAAwhereAAitAAisAAheaded,AAaAAsetAAofAAperformanceAAtargets,AAandAAaAAstrategyAAtoAAachieve
AAthem.
C. itsAAstrategyAAandAAmanagement'sAAspecific,AAdetailedAAplansAAforAAimplementingAAit.
D. aAAcompany'sAAplansAAforAAimprovingAAvalue-creatingAAinternalAAprocesses.
E. aAAstrategicAAvision,AAaAAstrategy,AAandAAaAAbusinessAAmodel.
7. TheAAstrategy-making,AAstrategy-executingAAprocess
A. isAAusuallyAAdelegatedAAtoAAmembersAAofAAaAAcompany'sAAboardAAofAAdirectorsAAsoAAasAAnotAAtoAAinfring
eAAonAAtheAAtimeAAofAAbusyAAexecutives.
B. includesAAestablishingAAaAAcompany'sAAmission,AAdevelopingAAaAAbusinessAAmodelAAaimedAAatAAmakin
gAAtheAAcompanyAAanAAindustryAAleader,AAandAAcraftingAAaAAstrategyAAtoAAimplementAAandAAexecuteAAth
eAAbusinessAAmodel.
C. embracesAAtheAAtasksAAofAAdevelopingAAaAAstrategicAAvision,AAsettingAAobjectives,AAcraftingAAa
AA strategy,AAimplementingAAandAAexecutingAAtheAAstrategy,AAandAAthenAAmonitoringAAdevelop
mentsAAandAAinitiatingAAcorrectiveAAadjustmentsAAinAAlightAAofAAexperience,AAchangingAAcondit
ions,AAandAAnewAAopportunities.
D. isAAprincipallyAAconcernedAAwithAAsizingAAupAAanAAorganization'sAAinternalAAandAAexternalAAsituation,AAs
oAAasAAtoAAbeAApreparedAAforAAtheAAchallengeAAofAAdevelopingAAaAAsoundAAbusinessAAmodel.
E. isAAprimarilyAAtheAAresponsibilityAAofAAtopAAexecutivesAAandAAtheAAboardAAofAAdirectors;AAveryAAfew
AAmanagersAAbelowAAthisAAlevelAAareAAinvolved.
8. AAAcompany'sAAstrategicAAvisionAAconcerns
A. aAAcompany'sAAdirectionalAApathAAandAAfutureAAproduct-customer-market-technologyAAfocus.
B. whyAAtheAAcompanyAAdoesAAcertainAAthingsAAinAAtryingAAtoAApleaseAAitsAAcustomers.
C. management'sAAstoryAAlineAAofAAhowAAitAAintendsAAtoAAmakeAAaAAprofitAAwithAAtheAAchosenAAstrategy.
D. "whoAAweAAareAAandAAwhatAAweAAdo."
E. whatAAfutureAAactionsAAtheAAenterpriseAAwillAAlikelyAAundertakeAAtoAAoutmaneuverAArivalsAAandAA
achieveAAaAAsustainableAAcompetitiveAAadvantage.
2-3
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Education.
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