MAN 3025 EXAM 2 UF QUESTIONS AND
ANSWERS
Michael Porter defined _____ as an attempt to achieve sustainable competitive
advantage by preserving what is distinct about a company. - Answer-strategic
positioning
Johanna has been asked by the department manager to prepare a SWOT analysis on
two of the company's products. In which step of the strategic management process
would a company use a SWOT analysis? - Answer-current reality assessment
The president, chief financial officer, and chief operating officer of Jensen Mfg. meet
annually to discuss the direction of the company including what products they will
continue to offer and what new products they will introduce. Which level of strategic
management does this represent? - Answer-corporate-level
True or false: It is common practice today for most small business owners to engage in
strategic planning. - Answer-False
When other companies cannot duplicate the value provided by a competitor, then the
competitor has established a(n) _____ competitive advantage. - Answer-sustainable
The second step of the strategic management process involves - Answer-assessing the
current reality
Corporate-level strategy: (select all that apply) - Answer-involves senior executives in
planning
answers questions such as "what business are we in?" and "what products and services
shall we offer?"
focuses on the organization as a whole
To be successful, strategic planning requires a company to have a _____ orientation. -
Answer-long-term
Luxury Linens Inc. produces the highest thread-count sheets available anywhere and
does so at a price that none of its competitors can duplicate. It can be said that Luxury
Linens has a(n) _____. - Answer-sustainable competitive advantage
Before introducing the new software, Star Software Inc., conducted benchmark activities
to assess how popular the product would be in the marketplace. Which stage of the
ANSWERS
Michael Porter defined _____ as an attempt to achieve sustainable competitive
advantage by preserving what is distinct about a company. - Answer-strategic
positioning
Johanna has been asked by the department manager to prepare a SWOT analysis on
two of the company's products. In which step of the strategic management process
would a company use a SWOT analysis? - Answer-current reality assessment
The president, chief financial officer, and chief operating officer of Jensen Mfg. meet
annually to discuss the direction of the company including what products they will
continue to offer and what new products they will introduce. Which level of strategic
management does this represent? - Answer-corporate-level
True or false: It is common practice today for most small business owners to engage in
strategic planning. - Answer-False
When other companies cannot duplicate the value provided by a competitor, then the
competitor has established a(n) _____ competitive advantage. - Answer-sustainable
The second step of the strategic management process involves - Answer-assessing the
current reality
Corporate-level strategy: (select all that apply) - Answer-involves senior executives in
planning
answers questions such as "what business are we in?" and "what products and services
shall we offer?"
focuses on the organization as a whole
To be successful, strategic planning requires a company to have a _____ orientation. -
Answer-long-term
Luxury Linens Inc. produces the highest thread-count sheets available anywhere and
does so at a price that none of its competitors can duplicate. It can be said that Luxury
Linens has a(n) _____. - Answer-sustainable competitive advantage
Before introducing the new software, Star Software Inc., conducted benchmark activities
to assess how popular the product would be in the marketplace. Which stage of the
