BMGT 1327 Exam 2 Review questions
well answered to pass
Which of the following is NOT a characteristic of a strategy? - correct answer ✔✔A relatively
permanent statement of mission based on constancies and stabilities in the environment
At even the largest and most affluent corporation, the strategic management process begins
with - correct answer ✔✔limited resources.
Generally, if the company can reliably assume that the organization and the external
environment will remain relatively stable and similar to that of the recent past, - correct answer
✔✔planning is much easier.
What is meant by corporate strategy? - correct answer ✔✔The scope and resource deployment
components of strategy for the enterprise as a whole
What name is given to those businesses that have high market shares and operate in industries
experiencing major growth? - correct answer ✔✔Stars
Which of the following characteristics relates to strategic management? - correct answer ✔✔All
the processes an organization undertakes to develop and implement its strategic plan
"Improving people's lives by providing gas and electric services in a sustainable way --
affordable, reliable and clean" is an example of - correct answer ✔✔a mission statement.
In plain language, diversification is - correct answer ✔✔acquiring other businesses.
, When a company fails to achieve its intended performance, it can use the strategic control
process as a means of - correct answer ✔✔feedback to help understand deficiencies.
Which of the following characteristics relates to a business-level strategy? - correct answer
✔✔The area of responsibility usually assigned to the divisional-level managers
Which of the following refers to a definition of an organization's fundamental purpose and its
basic philosophy? - correct answer ✔✔Mission
Strategic planning differs from general planning in that it focuses on - correct answer ✔✔the
external environment and long-term goals.
One of the major advantages of the newer GE matrix for business portfolio assessment is that it
- correct answer ✔✔gives organizations a basis for plotting strategy.
All of the following are steps in the planning process - correct answer ✔✔state goals, assess the
current situation, implement the plan.
What term is used to describe a formal written declaration of the organization's mission that
often includes the firm's philosophy, its primary products and markets, the intended geographic
scope, and the nature of the relationships between the firm, its stakeholders, and society? -
correct answer ✔✔Mission statement
What name is given to the evaluation of the organization's internal strengths and weaknesses
and the opportunities and threats associated with the business's external environment? -
correct answer ✔✔SWOT analysis
MidAmerican Energy Holdings Company has doubled its wind energy capacity by installing
windmills and high-tech batteries to make it a "cleaner" utility company. In high-tech renewable
energy, this company has a - correct answer ✔✔distinctive competence.
well answered to pass
Which of the following is NOT a characteristic of a strategy? - correct answer ✔✔A relatively
permanent statement of mission based on constancies and stabilities in the environment
At even the largest and most affluent corporation, the strategic management process begins
with - correct answer ✔✔limited resources.
Generally, if the company can reliably assume that the organization and the external
environment will remain relatively stable and similar to that of the recent past, - correct answer
✔✔planning is much easier.
What is meant by corporate strategy? - correct answer ✔✔The scope and resource deployment
components of strategy for the enterprise as a whole
What name is given to those businesses that have high market shares and operate in industries
experiencing major growth? - correct answer ✔✔Stars
Which of the following characteristics relates to strategic management? - correct answer ✔✔All
the processes an organization undertakes to develop and implement its strategic plan
"Improving people's lives by providing gas and electric services in a sustainable way --
affordable, reliable and clean" is an example of - correct answer ✔✔a mission statement.
In plain language, diversification is - correct answer ✔✔acquiring other businesses.
, When a company fails to achieve its intended performance, it can use the strategic control
process as a means of - correct answer ✔✔feedback to help understand deficiencies.
Which of the following characteristics relates to a business-level strategy? - correct answer
✔✔The area of responsibility usually assigned to the divisional-level managers
Which of the following refers to a definition of an organization's fundamental purpose and its
basic philosophy? - correct answer ✔✔Mission
Strategic planning differs from general planning in that it focuses on - correct answer ✔✔the
external environment and long-term goals.
One of the major advantages of the newer GE matrix for business portfolio assessment is that it
- correct answer ✔✔gives organizations a basis for plotting strategy.
All of the following are steps in the planning process - correct answer ✔✔state goals, assess the
current situation, implement the plan.
What term is used to describe a formal written declaration of the organization's mission that
often includes the firm's philosophy, its primary products and markets, the intended geographic
scope, and the nature of the relationships between the firm, its stakeholders, and society? -
correct answer ✔✔Mission statement
What name is given to the evaluation of the organization's internal strengths and weaknesses
and the opportunities and threats associated with the business's external environment? -
correct answer ✔✔SWOT analysis
MidAmerican Energy Holdings Company has doubled its wind energy capacity by installing
windmills and high-tech batteries to make it a "cleaner" utility company. In high-tech renewable
energy, this company has a - correct answer ✔✔distinctive competence.
