SEVI Exam 1 UPDATED Study Guide
ACTUAL QUESTIONS AND CORRECT
ANSWERS
To better achieve a competitive advantage, firms must now adopt a holistic approach towards
satisfying multiple stakeholders opposed to focusing on the needs of their shareholders. What
term is used for this approach? - CORRECT ANSWER✅✅Stakeholder Strategy
All of the following are external stakeholders except which of the following?
Customers
Creditors
Alliance Partners
Competitors - CORRECT ANSWER✅✅Competitors
Which of the following three important stakeholder attributes should managers pay special
close attention to in order to better understand stakeholder impact analysis? - CORRECT
ANSWER✅✅Power, legitimacy, and urgency
Most consumers and investors today want the firms they do business with to look beyond just
the profit motive. In fact, they want firms that behave legally and ethically while also giving
back to their communities via philanthropic activities. The framework that attempts to
reconcile these wants is known as - CORRECT ANSWER✅✅Corporate Social
Responsibility
Which of the following terms describes the guiding policy to address the competitive
challenge, and uses corporate- and business-level strategy?
Analysis
Formulation
Implementation
Competitive Advantage - CORRECT ANSWER✅✅Formulation
In strategic management, strategists engage in three pillars. These three pillars include the
________Blank of major goals and objectives. - CORRECT
ANSWER✅✅Implementation
The goal of a good strategy is focused primarily on - CORRECT ANSWER✅✅Creating
superior value while containing costs
A successful strategy details a set of goal-directed actions that managers make to gain and
sustain a competitive advantage; in order to create this strategy, managers must focus on
three pillars. Which of the following below is not one of these pillars?
Formulation
Execution
Implementation
Analysis - CORRECT ANSWER✅✅Execution
ACTUAL QUESTIONS AND CORRECT
ANSWERS
To better achieve a competitive advantage, firms must now adopt a holistic approach towards
satisfying multiple stakeholders opposed to focusing on the needs of their shareholders. What
term is used for this approach? - CORRECT ANSWER✅✅Stakeholder Strategy
All of the following are external stakeholders except which of the following?
Customers
Creditors
Alliance Partners
Competitors - CORRECT ANSWER✅✅Competitors
Which of the following three important stakeholder attributes should managers pay special
close attention to in order to better understand stakeholder impact analysis? - CORRECT
ANSWER✅✅Power, legitimacy, and urgency
Most consumers and investors today want the firms they do business with to look beyond just
the profit motive. In fact, they want firms that behave legally and ethically while also giving
back to their communities via philanthropic activities. The framework that attempts to
reconcile these wants is known as - CORRECT ANSWER✅✅Corporate Social
Responsibility
Which of the following terms describes the guiding policy to address the competitive
challenge, and uses corporate- and business-level strategy?
Analysis
Formulation
Implementation
Competitive Advantage - CORRECT ANSWER✅✅Formulation
In strategic management, strategists engage in three pillars. These three pillars include the
________Blank of major goals and objectives. - CORRECT
ANSWER✅✅Implementation
The goal of a good strategy is focused primarily on - CORRECT ANSWER✅✅Creating
superior value while containing costs
A successful strategy details a set of goal-directed actions that managers make to gain and
sustain a competitive advantage; in order to create this strategy, managers must focus on
three pillars. Which of the following below is not one of these pillars?
Formulation
Execution
Implementation
Analysis - CORRECT ANSWER✅✅Execution
