CM 4223 Strategic Management Exam – Questions
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Terms in this set (110)
What can be defined as the Strategic Management
art and science of
formulating, implementing
and evaluating cross-
functional decisions that
enable an organization to
achieve its objectives?
What types of skills are E. Interpersonal
especially critical for
successful strategy
implementation?
A. Marketing
B. Technical
C. Visionary
D. Conceptual
E. Interpersonal
Military strategy is based Conflict; Competition
on an assumption of ________,
whereas business strategy
is based on an assumption
of ________.
A. conflict; cooperation
B. conflict; competition
C. cooperation; conflict
D. competition; conflict
E. cooperation;
competition
,________ is NOT a strategy- A. Taking corrective actions
implementation activity.
A. Taking corrective actions
B. Establishing annual
objectives
C. Devising policies
D. Allocating resources
E. Motivating employees
The strategic-management E. All types of organizations
process is becoming more
widely used by
A. small firms.
B. nonprofit institutions.
C. governmental
organizations.
D. multinational
conglomerates.
E. All types of organizations
What are enduring B. Mission Statements
statements of purpose that
distinguish one business
from other similar firms?
A. Employee conduct
guidelines
B. Mission statements
C. Objectives
D. Policies
E. Rules
What are the means by Strategies
which long-term objectives
will be achieved?
,what is considered to be B. Developing a vision statement
the first step in strategic
planning, most of the time?
A. Securing capital to
operate
B. Developing a vision
statement
C. Devising a Mission
Statement
D. Establishing objectives
E. Obtaining shareholders
or financial supporters
The goal of strategic C. Achieve and maintain competitive advantage
management is to
A. achieve competitive
advantage.
B. maintain competitive
advantage.
C. achieve and maintain
competitive advantage.
D. eliminate competitive
advantage.
E. eliminate and abolish
competitive advantage.
An important activity in A. Strategy Evaluation
________ is taking corrective
action.
A. strategy evaluation
B. strategy implementation
C. strategy formulation
D. strategy leadership
E. all of the above
In which phase of strategic A. Formulation
management are long-term
objectives especially
important?
A. Formulation
B. Control
C. Evaluation
D. Implementation
E. Management
, Which statement best C. It should be coupled with analysis in decision-
describes intuition? making.
A. It represents the
marginal factor in decision-
making.
B. It represents a minor
factor in decision-making
integrated with analysis.
C. It should be coupled
with analysis in decision-
making.
D. It is better than analysis
in decision-making.
E. It is management by
ignorance.
To gain ________ firms need to A sustainable competitive advantage
provide unique products
and services.
Generally, external A. uncontrollable by a single organization.
opportunities and threats
are
A. uncontrollable by a
single organization.
B. unable to have a
significant impact on an
organization.
C. not worth monitoring
and evaluating.
D. key functions in strategy
implementation.
E. key functions in strategy
exploitation.
With Comprehensive Solutions
Save
Terms in this set (110)
What can be defined as the Strategic Management
art and science of
formulating, implementing
and evaluating cross-
functional decisions that
enable an organization to
achieve its objectives?
What types of skills are E. Interpersonal
especially critical for
successful strategy
implementation?
A. Marketing
B. Technical
C. Visionary
D. Conceptual
E. Interpersonal
Military strategy is based Conflict; Competition
on an assumption of ________,
whereas business strategy
is based on an assumption
of ________.
A. conflict; cooperation
B. conflict; competition
C. cooperation; conflict
D. competition; conflict
E. cooperation;
competition
,________ is NOT a strategy- A. Taking corrective actions
implementation activity.
A. Taking corrective actions
B. Establishing annual
objectives
C. Devising policies
D. Allocating resources
E. Motivating employees
The strategic-management E. All types of organizations
process is becoming more
widely used by
A. small firms.
B. nonprofit institutions.
C. governmental
organizations.
D. multinational
conglomerates.
E. All types of organizations
What are enduring B. Mission Statements
statements of purpose that
distinguish one business
from other similar firms?
A. Employee conduct
guidelines
B. Mission statements
C. Objectives
D. Policies
E. Rules
What are the means by Strategies
which long-term objectives
will be achieved?
,what is considered to be B. Developing a vision statement
the first step in strategic
planning, most of the time?
A. Securing capital to
operate
B. Developing a vision
statement
C. Devising a Mission
Statement
D. Establishing objectives
E. Obtaining shareholders
or financial supporters
The goal of strategic C. Achieve and maintain competitive advantage
management is to
A. achieve competitive
advantage.
B. maintain competitive
advantage.
C. achieve and maintain
competitive advantage.
D. eliminate competitive
advantage.
E. eliminate and abolish
competitive advantage.
An important activity in A. Strategy Evaluation
________ is taking corrective
action.
A. strategy evaluation
B. strategy implementation
C. strategy formulation
D. strategy leadership
E. all of the above
In which phase of strategic A. Formulation
management are long-term
objectives especially
important?
A. Formulation
B. Control
C. Evaluation
D. Implementation
E. Management
, Which statement best C. It should be coupled with analysis in decision-
describes intuition? making.
A. It represents the
marginal factor in decision-
making.
B. It represents a minor
factor in decision-making
integrated with analysis.
C. It should be coupled
with analysis in decision-
making.
D. It is better than analysis
in decision-making.
E. It is management by
ignorance.
To gain ________ firms need to A sustainable competitive advantage
provide unique products
and services.
Generally, external A. uncontrollable by a single organization.
opportunities and threats
are
A. uncontrollable by a
single organization.
B. unable to have a
significant impact on an
organization.
C. not worth monitoring
and evaluating.
D. key functions in strategy
implementation.
E. key functions in strategy
exploitation.
