CM 4223 Midterm Test Questions with Correct Answers Latest Update

CM 4223 Midterm Test Questions with Correct Answers Latest Update Generally, external opportunities and threats are: A. uncontrollable by a single organization B. key functions in strategy implementation C. unable to have a significant impact on an organization D. not worth monitoring and evaluating E. key functions in strategy exploitation - Answers uncontrollable by a single organization The goal of Strategic Management is to: A. eliminate competitive advantage B. achieve competitive advantage C. maintain competitive advantage D. achieve and maintain competitive advantage E. eliminate and abolish competitive advantage - Answers achieve and maintain competitive advantage The Internet has transferred power from ________ to ________. A. governments; businesses B. businesses; governments C. individuals; governments D. individuals; businesses E. businesses; individuals - Answers businesses; individuals Long-term objectives should be all of the following EXCEPT A. reasonable B. challenging C. consistent D. measurable E. continually changing - Answers continually changing 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.means that it is in the same position as Sony. C.illustrates that having more fixed assets than rival firms can provide major competitive advantages in a global recession. D.has enabled it to remain financially lean. E.has been problematic for Apple in terms of debt. - Answers has enabled it to remain financially lean. 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 - Answers answers the question: "What do we want to become?" The strategic-management process represents a(n) ________, ________, and ________ approach for determining an enterprise's future direction. A.inconsistent; systematic; subjective B.logical; systematic; subjective