Townsend Exam 1
Strategic management is based on the idea that organizations should monitor internal
and external trends how often?
A. Annually
B. Periodically
C. Monthly
D. Quarterly
E. Continually - CORRECT ANSWER-E. Continually
A firm can achieve sustained competitive advantage by doing what?
A. Continually adapting to changes in external trends and events and internal
capabilities, competencies and resources.
B. Effective formulating, implementing, and evaluating strategies that capitalize on
changes in trends and internal capabilities
C. Monitoring employees continuously
D. All of the above
E. A and B - CORRECT ANSWER-E. A and B
Who said "perfection is not attainable. but if we chase perfection, we can catch
excellence."
A. Chuck Noll Head Coach
B. George S Halas
C. Vince Lombardi
D. Tom Landry
E. President Barack Obama - CORRECT ANSWER-C. Vince Lombardi, Head Coach
Green Bay Packers
Guidelines, rules and procedures established to support implementation efforts are
called what?
A. Strengths
B. Policies
C. Objectives
D. Opportunities
E. Strategies - CORRECT ANSWER-B. Policies
Which of the following activities are included in strategy implementation?
A. Establish annual objectives and devise policies.
B. Motivate employees and allocate resources
C. Develop a strategy-supportive culture and create an effective organizational
structure.
D. Redirect marketing efforts and prepare budgets.
E. All of the above - CORRECT ANSWER-E. All of the above
, A fundamental strategy evaluation activity includes what?
A. Monitoring employees.
B. measuring performance.
C. Reviewing external and internal factors that are the bases for current strategies.
D. Reviewing external and internal factors that are the bases for current strategies,
measuring performance and taking corrective actions.
E. Taking corrective actions - CORRECT ANSWER-D. Reviewing external and internal
factors that are the bases for current strategies, measuring performance and taking
corrective actions.
According to Menz and Sheef, when are chief strategy officers (CSOs) most often
hired?
A. As top management interdepdence increases
B. When there is an increase in management interdependence and growth in
acquisition activity
C. As the business portfolio increases
D. When there is no COO
E.All of the above - CORRECT ANSWER-B. When there is an increase in management
interdependence and growth in acquisition activity
What is often considered to be the first step in strategic planning?
A. Securing capital to operate
B. Developing a vision statement
C. Devising a mission
D. Establishing objectives
E. Obtaining shareholders or financial supporters - CORRECT ANSWER-B. Developing
a vision statement
To build for new manufacturing plants in Europe is an example of a(n)
A. threat
B. opportunity
C. strategy
D. strength
E. weakness - CORRECT ANSWER-C. strategy
Strengths and weaknesses can be determined by elements of being rather than
performance. For example,
A. a strength may involve ownership of natural resources
B. a strength may be historic reputation for quality
C. a weakness may be a current ratio below 1
D. All of the above
E. A & B above - CORRECT ANSWER-E. A & B above
Strategic management is based on the idea that organizations should monitor internal
and external trends how often?
A. Annually
B. Periodically
C. Monthly
D. Quarterly
E. Continually - CORRECT ANSWER-E. Continually
A firm can achieve sustained competitive advantage by doing what?
A. Continually adapting to changes in external trends and events and internal
capabilities, competencies and resources.
B. Effective formulating, implementing, and evaluating strategies that capitalize on
changes in trends and internal capabilities
C. Monitoring employees continuously
D. All of the above
E. A and B - CORRECT ANSWER-E. A and B
Who said "perfection is not attainable. but if we chase perfection, we can catch
excellence."
A. Chuck Noll Head Coach
B. George S Halas
C. Vince Lombardi
D. Tom Landry
E. President Barack Obama - CORRECT ANSWER-C. Vince Lombardi, Head Coach
Green Bay Packers
Guidelines, rules and procedures established to support implementation efforts are
called what?
A. Strengths
B. Policies
C. Objectives
D. Opportunities
E. Strategies - CORRECT ANSWER-B. Policies
Which of the following activities are included in strategy implementation?
A. Establish annual objectives and devise policies.
B. Motivate employees and allocate resources
C. Develop a strategy-supportive culture and create an effective organizational
structure.
D. Redirect marketing efforts and prepare budgets.
E. All of the above - CORRECT ANSWER-E. All of the above
, A fundamental strategy evaluation activity includes what?
A. Monitoring employees.
B. measuring performance.
C. Reviewing external and internal factors that are the bases for current strategies.
D. Reviewing external and internal factors that are the bases for current strategies,
measuring performance and taking corrective actions.
E. Taking corrective actions - CORRECT ANSWER-D. Reviewing external and internal
factors that are the bases for current strategies, measuring performance and taking
corrective actions.
According to Menz and Sheef, when are chief strategy officers (CSOs) most often
hired?
A. As top management interdepdence increases
B. When there is an increase in management interdependence and growth in
acquisition activity
C. As the business portfolio increases
D. When there is no COO
E.All of the above - CORRECT ANSWER-B. When there is an increase in management
interdependence and growth in acquisition activity
What is often considered to be the first step in strategic planning?
A. Securing capital to operate
B. Developing a vision statement
C. Devising a mission
D. Establishing objectives
E. Obtaining shareholders or financial supporters - CORRECT ANSWER-B. Developing
a vision statement
To build for new manufacturing plants in Europe is an example of a(n)
A. threat
B. opportunity
C. strategy
D. strength
E. weakness - CORRECT ANSWER-C. strategy
Strengths and weaknesses can be determined by elements of being rather than
performance. For example,
A. a strength may involve ownership of natural resources
B. a strength may be historic reputation for quality
C. a weakness may be a current ratio below 1
D. All of the above
E. A & B above - CORRECT ANSWER-E. A & B above
