Test Bank for Strategic Management in Action 6th Edition

Test Bank for Strategic Management in Action 6th Edition Strategic Management in Action, 6e (Coulter) Chapter 1 Introducing the Concepts 1) Companies that use strategic management tend to have higher levels of performance. Answer: TRUE Diff: 2 Page Ref: 2 Topic: Explain Why Strategic Management Is Important AACSB: Reflective Thinking Objective: Define strategic management and identify its basic components 2) Strategy should be developed from a number of approaches rather than a single approach. Answer: TRUE Diff: 2 Page Ref: 3 Topic: Explain Why Strategic Management Is Important AACSB: Reflective Thinking Objective: Define strategic management and identify its basic components 3) An organization's simple action can be considered a strategy. Answer: FALSE Diff: 2 Page Ref: 5 Topic: Explain What Strategic Management Is AACSB: Analytical Skills Objective: Define strategic management and identify its basic components 4) Strategy involves only the examination of an organization's goals. Answer: FALSE Diff: 2 Page Ref: 5 Topic: Explain What Strategic Management Is AACSB: Analytical Skills Objective: Define strategic management and identify its basic components 5) An organization's strategy is its goal-directed decisions and actions in which its capabilities and resources are matched with the opportunities and threats in its environment. Answer: TRUE Diff: 2 Page Ref: 5 Topic: Explain What Strategic Management Is AACSB: Analytical Skills Objective: Define strategic management and identify its basic components 6) A situation analysis is the first step in the sequential strategic management process. Answer: TRUE Diff: 1 Page Ref: 6 Topic: Explain What Strategic Management Is AACSB: Analytical Skills Objective: Define strategic management and identify its basic components