Revolutionize Your Studying with the [Strategic Management in Action,Coulter,5e] Test Bank

Strategic Management in Action, 5e (Coulter)

Chapter 1 Introducing the Concepts



1) Companies that use strategic management tend to have higher levels of performance.

Answer: TRUE

Diff: 2 Page Ref: 3

Topic: Explain Why Strategic Management Is Important

AACSB: Reflective Thinking



2) Strategy should be developed from a number of approaches rather than a single
approach.

Answer: TRUE

Diff: 2 Page Ref: 4

Topic: Explain Why Strategic Management Is Important

AACSB: Reflective Thinking



3) An organization's simple action can be considered a strategy.

Answer: FALSE

Diff: 2 Page Ref: 5

Topic: Explain What Strategic Management Is

AACSB: Analytical Skills



4) Strategy involves only the examination of an organization's goals.

Answer: FALSE

Diff: 2 Page Ref: 5

,Topic: Explain What Strategic Management Is

AACSB: Analytical Skills



5) An organization's strategy is its goal-directed decisions and actions in which its
capabilities and resources are matched with the opportunities and threats in its
environment.

Answer: TRUE

Diff: 2 Page Ref: 5

Topic: Explain What Strategic Management Is

AACSB: Analytical Skills



6) A situation analysis is the first step in the sequential strategic management process.

Answer: TRUE

Diff: 1 Page Ref: 7

Topic: Explain What Strategic Management Is

AACSB: Analytical Skills



7) Functional strategies are the goal-directed plans and actions of the organization's
various functional departments.

Answer: FALSE

Diff: 1 Page Ref: 7

Topic: Explain What Strategic Management Is

AACSB: Reflective Thinking

,8) Business strategies are concerned with the broad and more long-term choices of "what
business(es) are we in or do we want to be in, and what do we want to do with these
businesses?"

Answer: FALSE

Diff: 2 Page Ref: 8

Topic: Explain What Strategic Management Is

AACSB: Reflective Thinking



9) Strategy implementation is the process of evaluating how the strategy has been
implemented as well as the outcomes of the strategy.

Answer: FALSE

Diff: 1 Page Ref: 8

Topic: Explain What Strategic Management Is

AACSB: Reflective Thinking



10) The Surprise Principle of War calls for striking at the enemy at a time or a place that's
unexpected.

Answer: TRUE

Diff: 1 Page Ref: 10

Topic: Explain What Strategic Management Is

AACSB: Analytical Skills



11) The fields of economics and organization studies provided the earliest academic
bases for strategic management.

Answer: TRUE

Diff: 2 Page Ref: 10

Topic: Explain What Strategic Management Is

, AACSB: Analytical Skills



12) A company's board of directors' legal obligation is to represent the shareholders and
protect their interests.

Answer: TRUE

Diff: 2 Page Ref: 12

Topic: Explain Who's Involved With Strategic Management

AACSB: Ethical Reasoning



13) Significant changes in legal mandates, investor activism, and corporate strategy have
changed the roles of many boards in the strategic management process.

Answer: TRUE

Diff: 2 Page Ref: 12

Topic: Explain Who's Involved With Strategic Management

AACSB: Ethical Reasoning



14) Preparation of strategic plans are a typical board responsibility.

Answer: FALSE

Diff: 1 Page Ref: 12

Topic: Explain Who's Involved With Strategic Management

AACSB: Reflective Thinking

15) The CEO's typical role is that of the chief strategist.

Answer: TRUE

Diff: 2 Page Ref: 13

Topic: Explain Who's Involved With Strategic Management

AACSB: Analytical Skills