COBA Core MGT 4300 (Strat Pol)
UPDATED ACTUAL Exam Questions and
CORRECT Answers
1) What can be defined as the art and science of formulating, implementing and evaluating cross-
functional decisions that enable an organization to achieve its objectives?
A) Strategy formulation
B) Strategy evaluation
C) Strategy implementation
D) Strategic management
E) Strategic leading - CORRECT ANSWER - *D) Strategic management
2) During what stage of strategic management are a firm's specific internal strengths and
weaknesses determined?
A) Formulation
B) Implementation
C) Evaluation
D) Feedback
E) Goal-setting - CORRECT ANSWER - *A) Formulation
3) An important activity in ________ is taking corrective action.
A) strategy evaluation
B) strategy implementation
C) strategy formulation
D) strategy leadership
E) all of the above - CORRECT ANSWER - *A) strategy evaluation
4) Which phase of strategic management is called the action phase?
,A) Strategy formulation
B) Strategy implementation
C) Strategy evaluation
D) Allocating resources
E) Measuring performance - CORRECT ANSWER - *B) Strategy implementation
5) Anything that a firm does especially well compared to rival firms is referred to as
A) competitive advantage.
B) comparative advantage.
C) opportunity cost.
D) sustainable advantage.
E) an external opportunity. - CORRECT ANSWER - *A) competitive advantage.
6) The fact that Apple has no manufacturing facilities of its own
A) has caused it to build up massive debt on its balance sheet.
B) has enabled it to remain financially lean with virtually no long-term debt.
C) has been problematic for Apple in terms of debt.
D) illustrates that having more fixed assets than rival firms can provide major competitive
advantages in a global recession.
E) means that it is in the same position as Sony. - CORRECT ANSWER - *B) has enabled
it to remain financially lean with virtually no long-term debt.
7) Which individuals are most responsible for the success and failure of an organization?
A) Strategists
B) Financial planners
C) Personnel directors
D) Stakeholders
E) Human resource managers - CORRECT ANSWER - *A) Strategists
, 8) An organization's vision statement
A) is a constant reminder to its employees of why the organization exists.
B) broadly charts the future direction of an organization.
C) addresses the basic question: "What is our business?"
D) answers the question: "What do we want to become?"
E) none of the above - CORRECT ANSWER - *D) answers the question: "What do we
want to become?"
9) Specific results an organization seeks to achieve in pursuing its basic mission are
A) strategies.
B) rules.
C) objectives.
D) policies.
E) tenets. - CORRECT ANSWER - *C) objectives.
10) Long-term objectives should be all of the following except
A) measurable.
B) continually changing.
C) reasonable.
D) challenging.
E) consistent. - CORRECT ANSWER - *B) continually changing.
11) Which of the following is not included in the strategic management model?
A) Measure and evaluate performance
B) Perform internal research to identify customers
C) Establish long-term objectives
D) Implement strategies
UPDATED ACTUAL Exam Questions and
CORRECT Answers
1) What can be defined as the art and science of formulating, implementing and evaluating cross-
functional decisions that enable an organization to achieve its objectives?
A) Strategy formulation
B) Strategy evaluation
C) Strategy implementation
D) Strategic management
E) Strategic leading - CORRECT ANSWER - *D) Strategic management
2) During what stage of strategic management are a firm's specific internal strengths and
weaknesses determined?
A) Formulation
B) Implementation
C) Evaluation
D) Feedback
E) Goal-setting - CORRECT ANSWER - *A) Formulation
3) An important activity in ________ is taking corrective action.
A) strategy evaluation
B) strategy implementation
C) strategy formulation
D) strategy leadership
E) all of the above - CORRECT ANSWER - *A) strategy evaluation
4) Which phase of strategic management is called the action phase?
,A) Strategy formulation
B) Strategy implementation
C) Strategy evaluation
D) Allocating resources
E) Measuring performance - CORRECT ANSWER - *B) Strategy implementation
5) Anything that a firm does especially well compared to rival firms is referred to as
A) competitive advantage.
B) comparative advantage.
C) opportunity cost.
D) sustainable advantage.
E) an external opportunity. - CORRECT ANSWER - *A) competitive advantage.
6) The fact that Apple has no manufacturing facilities of its own
A) has caused it to build up massive debt on its balance sheet.
B) has enabled it to remain financially lean with virtually no long-term debt.
C) has been problematic for Apple in terms of debt.
D) illustrates that having more fixed assets than rival firms can provide major competitive
advantages in a global recession.
E) means that it is in the same position as Sony. - CORRECT ANSWER - *B) has enabled
it to remain financially lean with virtually no long-term debt.
7) Which individuals are most responsible for the success and failure of an organization?
A) Strategists
B) Financial planners
C) Personnel directors
D) Stakeholders
E) Human resource managers - CORRECT ANSWER - *A) Strategists
, 8) An organization's vision statement
A) is a constant reminder to its employees of why the organization exists.
B) broadly charts the future direction of an organization.
C) addresses the basic question: "What is our business?"
D) answers the question: "What do we want to become?"
E) none of the above - CORRECT ANSWER - *D) answers the question: "What do we
want to become?"
9) Specific results an organization seeks to achieve in pursuing its basic mission are
A) strategies.
B) rules.
C) objectives.
D) policies.
E) tenets. - CORRECT ANSWER - *C) objectives.
10) Long-term objectives should be all of the following except
A) measurable.
B) continually changing.
C) reasonable.
D) challenging.
E) consistent. - CORRECT ANSWER - *B) continually changing.
11) Which of the following is not included in the strategic management model?
A) Measure and evaluate performance
B) Perform internal research to identify customers
C) Establish long-term objectives
D) Implement strategies
