Strategic Management: Concepts and Cases, 13e (David)
Chapter 1 The Nature of Strategic Management
1) Strategic management focuses on integrating management, marketing,
finance/accounting, production/operations, research and development, and information
systems to achieve organizational success.
Answer: TRUE
Diff: 1 Page Ref: 6
Topic: Introduction
Objective: 1.01 Describe the strategic-management process.
2) Optimizing for tomorrow the trends of today is the purpose of strategic management.
Answer: FALSE
Diff: 1 Page Ref: 6
Topic: What Is Strategic Management?
Objective: 1.01 Describe the strategic-management process.
3) Even though useful, strategic planning has been cast aside by corporate America since
the early 1990s.
Answer: FALSE
Diff: 2 Page Ref: 6
Objective: 1.01 Describe the strategic-management process.
4) Resource allocation is included in strategy-formulation activities.
Answer: TRUE
Diff: 2 Page Ref: 6
,Topic: What Is Strategic Management?
Objective: 1.01 Describe the strategic-management process.
5) The terms strategic management and strategic planning are synonymous in this text.
Answer: TRUE
Diff: 1 Page Ref: 6
Topic: What Is Strategic Management?
Objective: 1.01 Describe the strategic-management process.
6) A vision statement is, in essence, a company's game plan.
Answer: FALSE
Diff: 1 Page Ref: 11
Topic: What Is Strategic Management?
Objective: 1.03 Define and give examples of key terms in strategic management.
,7) Strategy implementation is often considered to be the most difficult stage in the
strategic-management process because it requires personal discipline, commitment, and
sacrifice.
Answer: TRUE
Diff: 3 Page Ref: 7
Topic: What Is Strategic Management?
Objective: 1.04 Describe the nature of strategy formulation, implementation, and
evaluation activities.
8) The final stage in strategic management is strategy implementation.
Answer: FALSE
Diff: 2 Page Ref: 7
Topic: What Is Strategic Management?
Objective: 1.04 Describe the nature of strategy formulation, implementation, and
evaluation activities.
9) Strategy formulation, implementation and evaluation activities occur at three
hierarchical levels in a large diversified organization: corporate, divisional and
functional.
Answer: TRUE
Diff: 2 Page Ref: 7
Topic: What Is Strategic Management?
Objective: 1.04 Describe the nature of strategy formulation, implementation, and
evaluation activities.
10) One of the fundamental strategy evaluation activities is reviewing external and
internal factors that are the bases for current strategies.
Answer: TRUE
, Diff: 2 Page Ref: 7
Topic: What Is Strategic Management?
Objective: 1.04 Describe the nature of strategy formulation, implementation, and
evaluation activities.
11) An objective, logical, systematic approach for making major decisions in an
organization is a way to describe the strategic-management process.
Answer: TRUE
Diff: 2 Page Ref: 7
Topic: What Is Strategic Management?
Objective: 1.02 Explain the need for integrating analysis and intuition in strategic
management.
12) Strategic management is an attempt to organize qualitative and quantitative
information in a way that allows effective decisions to be made under conditions of
uncertainty.
Answer: TRUE
Diff: 2 Page Ref: 7
Topic: What Is Strategic Management?
Objective: 1.02 Explain the need for integrating analysis and intuition in strategic
management.
Chapter 1 The Nature of Strategic Management
1) Strategic management focuses on integrating management, marketing,
finance/accounting, production/operations, research and development, and information
systems to achieve organizational success.
Answer: TRUE
Diff: 1 Page Ref: 6
Topic: Introduction
Objective: 1.01 Describe the strategic-management process.
2) Optimizing for tomorrow the trends of today is the purpose of strategic management.
Answer: FALSE
Diff: 1 Page Ref: 6
Topic: What Is Strategic Management?
Objective: 1.01 Describe the strategic-management process.
3) Even though useful, strategic planning has been cast aside by corporate America since
the early 1990s.
Answer: FALSE
Diff: 2 Page Ref: 6
Objective: 1.01 Describe the strategic-management process.
4) Resource allocation is included in strategy-formulation activities.
Answer: TRUE
Diff: 2 Page Ref: 6
,Topic: What Is Strategic Management?
Objective: 1.01 Describe the strategic-management process.
5) The terms strategic management and strategic planning are synonymous in this text.
Answer: TRUE
Diff: 1 Page Ref: 6
Topic: What Is Strategic Management?
Objective: 1.01 Describe the strategic-management process.
6) A vision statement is, in essence, a company's game plan.
Answer: FALSE
Diff: 1 Page Ref: 11
Topic: What Is Strategic Management?
Objective: 1.03 Define and give examples of key terms in strategic management.
,7) Strategy implementation is often considered to be the most difficult stage in the
strategic-management process because it requires personal discipline, commitment, and
sacrifice.
Answer: TRUE
Diff: 3 Page Ref: 7
Topic: What Is Strategic Management?
Objective: 1.04 Describe the nature of strategy formulation, implementation, and
evaluation activities.
8) The final stage in strategic management is strategy implementation.
Answer: FALSE
Diff: 2 Page Ref: 7
Topic: What Is Strategic Management?
Objective: 1.04 Describe the nature of strategy formulation, implementation, and
evaluation activities.
9) Strategy formulation, implementation and evaluation activities occur at three
hierarchical levels in a large diversified organization: corporate, divisional and
functional.
Answer: TRUE
Diff: 2 Page Ref: 7
Topic: What Is Strategic Management?
Objective: 1.04 Describe the nature of strategy formulation, implementation, and
evaluation activities.
10) One of the fundamental strategy evaluation activities is reviewing external and
internal factors that are the bases for current strategies.
Answer: TRUE
, Diff: 2 Page Ref: 7
Topic: What Is Strategic Management?
Objective: 1.04 Describe the nature of strategy formulation, implementation, and
evaluation activities.
11) An objective, logical, systematic approach for making major decisions in an
organization is a way to describe the strategic-management process.
Answer: TRUE
Diff: 2 Page Ref: 7
Topic: What Is Strategic Management?
Objective: 1.02 Explain the need for integrating analysis and intuition in strategic
management.
12) Strategic management is an attempt to organize qualitative and quantitative
information in a way that allows effective decisions to be made under conditions of
uncertainty.
Answer: TRUE
Diff: 2 Page Ref: 7
Topic: What Is Strategic Management?
Objective: 1.02 Explain the need for integrating analysis and intuition in strategic
management.
