Tired from studying endless hours with no results? Do you dream to obtain an A+ in your class? Look no further because we have the right solution for you. With the test bank for Strategic Management A Competitive Advantage Approach, Concepts & Cases,David,16e you will be able to practice and prepa...
Strategic Management: A Competitive Advantage Approach, 16e (David)
Chapter 1 The Nature of Strategic Management
1) The goal of strategic 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.
Answer: C
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Analytical thinking
2) Strategic management focuses on integrating management, ________, and information
systems to achieve organizational success.
A) marketing
B) finance and accounting
C) production and operations
D) research and development
E) all of the above
Answer: E
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Written and oral communication 3) What can be defined as the art and science of formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives?
A) Strategy formulation
B) Strategy evaluation
C) Strategy implementation
D) Strategic management
E) Strategic leading
Answer: D
Diff: 1
LO: 1.1: Describe the strategic-management process.
AACSB: Written and oral communication 4) In recent years, the speedy flow of information through technology has
A) made it harder for people worldwide to see how others work and live.
B) strengthened national boundaries and made countries more self-contained.
C) created a borderless world with global competitors, customers, and citizens.
D) ensured that the United States is unrivaled by other companies in all industries.
E) made the real flow of financial activity align with political boundaries between countries.
Answer: C
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Written and oral communication
5) The strategic-management process is becoming more widely used by
A) small firms.
B) nonprofit institutions.
C) governmental organizations.
D) multinational conglomerates.
E) all of the above
Answer: E
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Written and oral communication
6) An organization should take a(n) ________ approach in its industry.
A) adversarial rather than a collegial
B) collegial rather than an adversarial C) reactive rather than a proactive
D) proactive rather than a reactive
E) cooperative rather than a competitive
Answer: D
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Written and oral communication
7) The strategic-management process represents a(n) ________, ________, and ________ approach for determining an enterprise's future direction.
A) logical; systematic; subjective
B) intuitive; disorganized; subjective
C) logical; systematic; objective
D) intuitive; disorganized; objective
E) inconsistent; systematic; subjective
Answer: C
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Written and oral communication
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TestBank4Textbooks. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $30.48. You're not tied to anything after your purchase.
