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Strategic Management Exam Questions With
Verified Answers.
The focus of strategic management is ______.
A. increasing return on investment
B. functional planning
C. the profits of the firm
D. separating all the functional areas of the business to achieve organizational success
E. the integration of all the functional areas of the business to achieve its organizational
objectives - answer✔✔E
The logical starting point for strategic management is to ______.
A. implement the plan
B. analyze metrics
C. perform a SWOT analysis
D. identify the existing vision, mission, objectives, and strategies
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E. hold off-premises retreats - answer✔✔D
The strategic management process begins with______.
A. strategy implementation
B. strategic opportunity identification
C. strategy formulation
D. strategy evaluation
E. strategic planning - answer✔✔C
In which stage of the strategic management process is an organization likely to develop a
mission statement?
A. Strategic opportunity identification
B. Strategy evaluation
C. Strategy implementation
D. Strategy formulation
E. Strategic planning - answer✔✔D
Analytical thinking and intuitive thinking ______.
A. are seldom used together
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B. are typically at odds with each other
C. complement each other
D. guarantee strategic success
E. are not used in strategic planning - answer✔✔C
The strategic-management process can be described as an objective, logical, systematic approach
for making major decisions in an organization. However, it is generally recognized that ______
is essential to making good strategic decisions.
A. ignoring intuition
B. intuition
C. ignorance
D. ignoring change
E. undisciplined intuition - answer✔✔B
Apple's financially lean position with regard to manufacturing facilities provides the firm with a
_______ over Sony, which invests heavily in manufacturing facilities.
A. competitive advantage
B. strategic advantage
C. comparative advantage
, ©THEBRIGHTSTARS 2024
D. sustained competitive advantage
E. disadvantage - answer✔✔A
What element of strategic management answers the question "What do we want to become?"
A. A mission statement
B. A vision statement
C. Specific long-term objectives
D. Environmental scanning
E. A SWOT - answer✔✔B
One benefit of strategic planning is that it allows a firm to be _______ in shaping its own future.
A. proactive
B. passive
C. successful
D. reactive
E. unconcerned - answer✔✔A
Three primary intrinsic benefits of strategic planning include ______.
Strategic Management Exam Questions With
Verified Answers.
The focus of strategic management is ______.
A. increasing return on investment
B. functional planning
C. the profits of the firm
D. separating all the functional areas of the business to achieve organizational success
E. the integration of all the functional areas of the business to achieve its organizational
objectives - answer✔✔E
The logical starting point for strategic management is to ______.
A. implement the plan
B. analyze metrics
C. perform a SWOT analysis
D. identify the existing vision, mission, objectives, and strategies
, ©THEBRIGHTSTARS 2024
E. hold off-premises retreats - answer✔✔D
The strategic management process begins with______.
A. strategy implementation
B. strategic opportunity identification
C. strategy formulation
D. strategy evaluation
E. strategic planning - answer✔✔C
In which stage of the strategic management process is an organization likely to develop a
mission statement?
A. Strategic opportunity identification
B. Strategy evaluation
C. Strategy implementation
D. Strategy formulation
E. Strategic planning - answer✔✔D
Analytical thinking and intuitive thinking ______.
A. are seldom used together
, ©THEBRIGHTSTARS 2024
B. are typically at odds with each other
C. complement each other
D. guarantee strategic success
E. are not used in strategic planning - answer✔✔C
The strategic-management process can be described as an objective, logical, systematic approach
for making major decisions in an organization. However, it is generally recognized that ______
is essential to making good strategic decisions.
A. ignoring intuition
B. intuition
C. ignorance
D. ignoring change
E. undisciplined intuition - answer✔✔B
Apple's financially lean position with regard to manufacturing facilities provides the firm with a
_______ over Sony, which invests heavily in manufacturing facilities.
A. competitive advantage
B. strategic advantage
C. comparative advantage
, ©THEBRIGHTSTARS 2024
D. sustained competitive advantage
E. disadvantage - answer✔✔A
What element of strategic management answers the question "What do we want to become?"
A. A mission statement
B. A vision statement
C. Specific long-term objectives
D. Environmental scanning
E. A SWOT - answer✔✔B
One benefit of strategic planning is that it allows a firm to be _______ in shaping its own future.
A. proactive
B. passive
C. successful
D. reactive
E. unconcerned - answer✔✔A
Three primary intrinsic benefits of strategic planning include ______.
