BCH 2333 Midterm Kimberley Williams (Quiz
questions) WITH VERIFIED SOLUTIONS | 2026
UPDATE
Generally, external opportunities and threats are:
uncontrollable by a single organization
The goal of Strategic Management is to:
achieve and maintain competitive advantage
The Internet has transferred power from ________ to ________.
businesses; individuals
Long-term objectives should be all of the following EXCEPT
continually changing
Long-term objectives should be all of the following
measurable
reasonable
challenging
consistent
The fact that Apple has no manufacturing facilities of its own
, has enabled it to remain financially lean.
An organization's vision statement
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.
logical; systematic; objective
Firms, like organisms, must be "adept at adapting" or they will not survive.
True
According to Drucker, what is the best time to ask "What do we want to become?" and
"What is our business?"?
When the firm is successful
The general public is especially interested in ________, whereas stockholders are more
interested in ________.
social responsibility; profitability
The purpose of a mission statement is to declare all of these EXCEPT
an annual financial plan.
The purpose of a mission statement is to declare all of these
whom an organization wants to serve.
questions) WITH VERIFIED SOLUTIONS | 2026
UPDATE
Generally, external opportunities and threats are:
uncontrollable by a single organization
The goal of Strategic Management is to:
achieve and maintain competitive advantage
The Internet has transferred power from ________ to ________.
businesses; individuals
Long-term objectives should be all of the following EXCEPT
continually changing
Long-term objectives should be all of the following
measurable
reasonable
challenging
consistent
The fact that Apple has no manufacturing facilities of its own
, has enabled it to remain financially lean.
An organization's vision statement
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.
logical; systematic; objective
Firms, like organisms, must be "adept at adapting" or they will not survive.
True
According to Drucker, what is the best time to ask "What do we want to become?" and
"What is our business?"?
When the firm is successful
The general public is especially interested in ________, whereas stockholders are more
interested in ________.
social responsibility; profitability
The purpose of a mission statement is to declare all of these EXCEPT
an annual financial plan.
The purpose of a mission statement is to declare all of these
whom an organization wants to serve.
