Ch01
Student: ___________________________________________________________________________
1. Which of the following is an element of a firm's remote external environment?
A. Competition
B. Suppliers
C. Government agencies
D. Economic and social conditions
2. Which of the following is NOT a part of a firm's immediate external environment?
A. Technological development
B. Competitors
C. Suppliers
D. Government agencies
3. The immediate external environment includes:
A. Competitors
B. S. B. U. s
C. Divisions
D. Management
4. The _______ compromises economic and social conditions, political priorities, and technological
developments, all of which must be anticipated, monitored, assessed, and incorporated into the executive's
decision making.
A. remote environment
B. task environment
C. operating environment
D. internal environment
5. The set of decisions and actions resulting in formulation and implementation of plans designed to achieve
the objectives of an organization is defined as:
A. strategic policy
B. business policy
C. strategic management
D. tactics
6. Strategic management compromises nine critical tasks. Which of the following is NOT one of the tasks?
A. Development of annual objectives compatible with grand strategies
B. Assessment of the company's external environment
C. Selection of a particular set of long-term objectives and grand strategies
D. Evaluate the success of the strategic process
,7. Strategic management involves the _____, directing, _____ and controlling of a company's strategy-related
decisions and actions.
A. financing; marketing
B. planning; financing
C. marketing; planning
D. planning; organizing
8. Large-scale, future-oriented plans, for interacting with the competitive environment to achieve company
objectives refers to its
A. strategy.
B. goals.
C. competitive analysis.
D. dynamic policies
9. A strategy is a company's
A. game plan.
B. pricing policy.
C. value statement.
D. long-term objective.
10. A(n) _____ reflects a company's awareness of how, when, and where is should compete, against whom it
should compete, and for what purpose it should compete.
A. vision
B. organizational structure
C. strategy
D. long-term objective
11. Strategic issues require which level of management decisions?
A. Operative
B. Top
C. Front-line
D. Middle
12. Strategic decisions ostensibly commit the firm for
A. 1-2 years.
B. the short term.
C. 3-4 years.
D. a long time, typically five years.
13. Some business decisions are strategic and therefore deserve strategic management attention. Which of the
following is one of the six strategic issue dimensions?
A. Requires front-line employee decisions
B. Is not likely to have a significant impact on long-term prosperity of the firm
C. Necessitates considering factors in the firm's external environment
D. Is spontaneous
,14. Which of the following applies to strategic issues?
A. Consider only the firm's internal environment
B. Are future oriented
C. Concern allocation of insignificant amounts of company resources
D. Do not have long-term impact on the firm's prosperity
15. Strategic decisions are based on what managers _____, rather than what they _____.
A. forecast; know
B. react to; anticipate
C. know; forecast
D. compromise with; analyze
16. In a turbulent and competitive free enterprise environment, a firm will succeed only if it takes a(n) ____
stance towards change.
A. reactive
B. anti-regulatory or anti-government
C. proactive
D. vision and not mission
17. Typically how many strategic decision levels are in the corporate decision-making hierarchy?
A. 5 or more
B. 4
C. 3
D. 2
18. To a large extent, attitudes at the corporate level reflect the concerns of
A. stockholders and society at large.
B. top managers.
C. the CEO.
D. the federal government.
19. The top of the decision-making hierarchy compromises all of these EXCEPT
A. board of directors.
B. front-line managers.
C. the CEO.
D. administrative officers.
20. In a multibusiness firm, ______ -level executives determine the businesses in which the firm should be
involved.
A. business
B. functional
C. corporate
D. operative
, 21. At Office Supply, Inc., ____ -level managers would be responsible for determining whether the company
should be involved in home furnishings or electronic appliance businesses, where as ____ -level managers
would be responsible for determining how the firm will compete in the selected product-market arena.
A. business; corporate
B. corporate; functional
C. functional; business
D. corporate; business
22. Some business decisions are strategic and therefore deserve strategic management attention. Which of the
following is one of the six strategic issue dimensions?
A. Requires front-line employee decisions
B. Is not likely to have a significant impact on long-term prosperity of the firm
C. Necessitates considering factors in the firm's external environment
D. Is spontaneous
23. Who determines the basis on which a company can compete in the selected product-market arena?
A. Functional-level strategic managers
B. Corporate-level strategic managers
C. Business-level strategic managers
D. Operational managers supervising operative
24. Which of these managers tries to identify and secure the most profitable and promising market segment?
A. Functional managers
B. Corporate managers
C. Business managers
D. Operative
25. The functional level of decision making is characterized by:
A. the board of directors deriving corporate goals.
B. managers of product, geographic and functional areas.
C. the CEO developing a company profile.
D. business managers interpreting the mission into operational objectives.
26. Which strategic level is typically responsible for developing annual objectives and short-term strategies?
A. Functional level
B. Corporate level
C. Business level
D. Board of Directors level
27. Which of the following is NOT a level in the decision-making hierarchy of a firm?
A. Business
B. Corporate
C. Operative
D. Functional
Student: ___________________________________________________________________________
1. Which of the following is an element of a firm's remote external environment?
A. Competition
B. Suppliers
C. Government agencies
D. Economic and social conditions
2. Which of the following is NOT a part of a firm's immediate external environment?
A. Technological development
B. Competitors
C. Suppliers
D. Government agencies
3. The immediate external environment includes:
A. Competitors
B. S. B. U. s
C. Divisions
D. Management
4. The _______ compromises economic and social conditions, political priorities, and technological
developments, all of which must be anticipated, monitored, assessed, and incorporated into the executive's
decision making.
A. remote environment
B. task environment
C. operating environment
D. internal environment
5. The set of decisions and actions resulting in formulation and implementation of plans designed to achieve
the objectives of an organization is defined as:
A. strategic policy
B. business policy
C. strategic management
D. tactics
6. Strategic management compromises nine critical tasks. Which of the following is NOT one of the tasks?
A. Development of annual objectives compatible with grand strategies
B. Assessment of the company's external environment
C. Selection of a particular set of long-term objectives and grand strategies
D. Evaluate the success of the strategic process
,7. Strategic management involves the _____, directing, _____ and controlling of a company's strategy-related
decisions and actions.
A. financing; marketing
B. planning; financing
C. marketing; planning
D. planning; organizing
8. Large-scale, future-oriented plans, for interacting with the competitive environment to achieve company
objectives refers to its
A. strategy.
B. goals.
C. competitive analysis.
D. dynamic policies
9. A strategy is a company's
A. game plan.
B. pricing policy.
C. value statement.
D. long-term objective.
10. A(n) _____ reflects a company's awareness of how, when, and where is should compete, against whom it
should compete, and for what purpose it should compete.
A. vision
B. organizational structure
C. strategy
D. long-term objective
11. Strategic issues require which level of management decisions?
A. Operative
B. Top
C. Front-line
D. Middle
12. Strategic decisions ostensibly commit the firm for
A. 1-2 years.
B. the short term.
C. 3-4 years.
D. a long time, typically five years.
13. Some business decisions are strategic and therefore deserve strategic management attention. Which of the
following is one of the six strategic issue dimensions?
A. Requires front-line employee decisions
B. Is not likely to have a significant impact on long-term prosperity of the firm
C. Necessitates considering factors in the firm's external environment
D. Is spontaneous
,14. Which of the following applies to strategic issues?
A. Consider only the firm's internal environment
B. Are future oriented
C. Concern allocation of insignificant amounts of company resources
D. Do not have long-term impact on the firm's prosperity
15. Strategic decisions are based on what managers _____, rather than what they _____.
A. forecast; know
B. react to; anticipate
C. know; forecast
D. compromise with; analyze
16. In a turbulent and competitive free enterprise environment, a firm will succeed only if it takes a(n) ____
stance towards change.
A. reactive
B. anti-regulatory or anti-government
C. proactive
D. vision and not mission
17. Typically how many strategic decision levels are in the corporate decision-making hierarchy?
A. 5 or more
B. 4
C. 3
D. 2
18. To a large extent, attitudes at the corporate level reflect the concerns of
A. stockholders and society at large.
B. top managers.
C. the CEO.
D. the federal government.
19. The top of the decision-making hierarchy compromises all of these EXCEPT
A. board of directors.
B. front-line managers.
C. the CEO.
D. administrative officers.
20. In a multibusiness firm, ______ -level executives determine the businesses in which the firm should be
involved.
A. business
B. functional
C. corporate
D. operative
, 21. At Office Supply, Inc., ____ -level managers would be responsible for determining whether the company
should be involved in home furnishings or electronic appliance businesses, where as ____ -level managers
would be responsible for determining how the firm will compete in the selected product-market arena.
A. business; corporate
B. corporate; functional
C. functional; business
D. corporate; business
22. Some business decisions are strategic and therefore deserve strategic management attention. Which of the
following is one of the six strategic issue dimensions?
A. Requires front-line employee decisions
B. Is not likely to have a significant impact on long-term prosperity of the firm
C. Necessitates considering factors in the firm's external environment
D. Is spontaneous
23. Who determines the basis on which a company can compete in the selected product-market arena?
A. Functional-level strategic managers
B. Corporate-level strategic managers
C. Business-level strategic managers
D. Operational managers supervising operative
24. Which of these managers tries to identify and secure the most profitable and promising market segment?
A. Functional managers
B. Corporate managers
C. Business managers
D. Operative
25. The functional level of decision making is characterized by:
A. the board of directors deriving corporate goals.
B. managers of product, geographic and functional areas.
C. the CEO developing a company profile.
D. business managers interpreting the mission into operational objectives.
26. Which strategic level is typically responsible for developing annual objectives and short-term strategies?
A. Functional level
B. Corporate level
C. Business level
D. Board of Directors level
27. Which of the following is NOT a level in the decision-making hierarchy of a firm?
A. Business
B. Corporate
C. Operative
D. Functional
