Strategic Management and Competitive Advantage Concepts and Cases, barney - Exam Preparation Test Bank (Downloadable Doc)

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,Test Bank for Strategic
Management and
Competitive Advantage

, Strategic Management
and Competitive
Advantage:
Concepts and Cases
Sixth Edition



Jay B. Barney
William S. Hesterly



New York, NY

Strategic Management and Competitive Advantage, 6e (Barney)
Chapter 1 What is Strategy and the Strategic Management Process?

1) A firm's ________ is defined as its theory about how to gain competitive advantages.
A) objective
B) mission
C) vision
D) strategy
Answer: D

, Diff: 1 Page Ref: 4
Learning Obj.: 1.1: Define Strategy and Describe the Strategic Management Process.
AACSB: Analytical Thinking

2) A sequential set of analyses and choices that can increase the likelihood that a firm
will choose a strategy that generates competitive advantages is the
A) organizational change process.
B) strategic management process.
C) mission statement process.
D) goal setting process.
Answer: B
Diff: 2 Page Ref: 5
Learning Obj.: 1.1: Define Strategy and Describe the Strategic Management Process.
AACSB: Analytical Thinking

3) A firm's ________ is its long-term purpose that defines both what it aspires to be in the
long run and what it wants to avoid in the meantime.
A) mission
B) strategy
C) objective
D) goal
Answer: A
Diff: 1 Page Ref: 5
Learning Obj.: 1.1: Define Strategy and Describe the Strategic Management Process.
AACSB: Analytical Thinking

4) The strategic management process begins when a firm
A) determines its objectives.
B) defines its mission.
C) makes a strategic choice.
D) implements its strategy.
Answer: B
Diff: 2 Page Ref: 5
Learning Obj.: 1.1: Define Strategy and Describe the Strategic Management Process.
AACSB: Analytical Thinking