MBA 705 - LSUS - Spring 2022 - Dr.
Erin McLaughlin questions and
answers
When the value of the U.S. dollar increases, U.S. firms __________. ✔✔compete
at a disadvantage in foreign markets.
A strong U.S. dollar raises the prices of U.S. goods abroad, creating a disadvantage
for U.S. firms abroad.
A decline in a nation's GDP for two or more consecutive quarters is known as
__________. ✔✔Recession.True or False: A strategy seeks to develop and sustain
competitive advantage ✔✔TRUE
Strategy refers to top management's plans to develop and sustain competitive
advantage—a state whereby a firm's successful strategies cannot be easily
duplicated by its competitors—so that the organization's mission is fulfilled.
TRUE OR FALSE: Strategic management refers to formulating successful strategies
for an organization. ✔✔FALSE
Strategic management considers more than just strategy; it is a process that
includes top management's analysis of the environment in which the organization
operates prior to formulating a strategy as well as the plan for implementation
and control of the strategy.
, TRUE OR FALSE: Each step in the strategic management process is independent so
that changes in one step will not substantially affect other steps. ✔✔False
All steps in the strategic management process are interrelated.
TRUE OR FALSE: 4. The intended strategy and the realized strategy can never be
the same ✔✔4. The intended strategy and the realized strategy can never be the
same.
False
If a strategy is implemented just as it was planned, then the intended and realized
strategies will be the same. This is possible but not common
TRUE OR FALSE: Whereas IO theory emphasizes the influence of industry factors
of firm performance, resource-based theory emphasizes the role of firm factors.
✔✔True
IO emphasizes the influence of the industry environment upon the firm. Resource-
based theory views performance primarily as a function of a firm's ability to utilize
its resources.
TRUE OR FALSE: 6. Strategic decisions are made solely by and are ultimately the
responsibility of the CEO alone. ✔✔False
Although the CEO alone is responsible for strategic decisions, he or she usually
forms a top management team to assist in making the decisions.
Erin McLaughlin questions and
answers
When the value of the U.S. dollar increases, U.S. firms __________. ✔✔compete
at a disadvantage in foreign markets.
A strong U.S. dollar raises the prices of U.S. goods abroad, creating a disadvantage
for U.S. firms abroad.
A decline in a nation's GDP for two or more consecutive quarters is known as
__________. ✔✔Recession.True or False: A strategy seeks to develop and sustain
competitive advantage ✔✔TRUE
Strategy refers to top management's plans to develop and sustain competitive
advantage—a state whereby a firm's successful strategies cannot be easily
duplicated by its competitors—so that the organization's mission is fulfilled.
TRUE OR FALSE: Strategic management refers to formulating successful strategies
for an organization. ✔✔FALSE
Strategic management considers more than just strategy; it is a process that
includes top management's analysis of the environment in which the organization
operates prior to formulating a strategy as well as the plan for implementation
and control of the strategy.
, TRUE OR FALSE: Each step in the strategic management process is independent so
that changes in one step will not substantially affect other steps. ✔✔False
All steps in the strategic management process are interrelated.
TRUE OR FALSE: 4. The intended strategy and the realized strategy can never be
the same ✔✔4. The intended strategy and the realized strategy can never be the
same.
False
If a strategy is implemented just as it was planned, then the intended and realized
strategies will be the same. This is possible but not common
TRUE OR FALSE: Whereas IO theory emphasizes the influence of industry factors
of firm performance, resource-based theory emphasizes the role of firm factors.
✔✔True
IO emphasizes the influence of the industry environment upon the firm. Resource-
based theory views performance primarily as a function of a firm's ability to utilize
its resources.
TRUE OR FALSE: 6. Strategic decisions are made solely by and are ultimately the
responsibility of the CEO alone. ✔✔False
Although the CEO alone is responsible for strategic decisions, he or she usually
forms a top management team to assist in making the decisions.
