Test Item File- Practice Test Bank - Strategic Management Planning for Domestic & Global Competition,Pearce,14e

Test bank

Chapter 01
Strategic Management




1. (p. 3) Which of the_ following is an element of a firm's remote external environment?
A) Competition
B. Suppliers
C. Government agencies
D. Economic and social conditions




Easy
Learning Objective: 1



2. (p. 3) Which of the_ following is NOT a part of a firm's immediate external environment?
A) Technological development
B. Competitors
C. Suppliers
D. Government agencies




Easy
Learning Objective: 1



3. (p. 3) The_ immediate external environment includes:
A) Competitors
B. S. B. U. s
C. Divisions
D. Management




Easy
Learning Objective: 1




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4. (p. 3) The_ _______ comprises economic and social conditions, political priorities and technological developments,
all of which must be anticipated, monitored, assessed and incorporated into the_ executive's decision making.
A) Remote external environment
B. Task environment
C. Operating environment
D. Internal environment




Easy
Learning Objective: 1



5. (p. 3) The_ set of decisions and actions that result in the_ formulation and implementation of plans designed to
achieve a company's objectives is defined as:
A) Strategic policy
B. Business policy
C. Strategic management
D. Tactics




Medium
Learning Objective: 2



6. (p. 3) Strategic management compromises nine critical tasks. Which of the_ following is NOT one of the_ tasks?
A) Development of medium-term objectives compatible with grand strategies
B. Assessment of the_ company's external environment
C. Selection of a particular set of long-term objectives and grand strategies
D. Evaluate the_ success of the_ strategic process




Medium
Learning Objective: 2




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7. (p. 3) Strategic management involves the_ _____, directing, _____ and controlling of a company's strategy-related
decisions and actions.
A) Financing; marketing
B. Planning; financing
C. Marketing; planning
D. Planning; organizing




Medium
Learning Objective: 2



8. (p.3) Large-scale, future-oriented plans, for interacting with the_ competitive environment to achieve company
objectives refers to its
A) Strategy
B. Goals
C. Competitive analysis
D. Dynamic policies




Easy
Learning Objective: 2



9. (p. 3) A strategy is a company's
A) Game plan
B. Pricing policy
C. Value statement
D. Long-term objective




Easy
Learning Objective: 2



10. (p. 3) A _____is a company's game plan.
A) Strategy
B. Pricing policy
C. Value statement
D. Long-term objective




Easy
Learning Objective: 2


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11. (p. 4) A(n) _____ provides a framework for managerial decisions. A) Vision
B. Organizational structure
C. Strategy
D. Long-term objective




Medium
Learning Objective: 2



12. (p. 4) A(n) strategy reflects a company's awareness of how, when and where is should ____, against whom it
should _____ and for what purpose it should _____.
A) cooperate
B. ally
C. compete
D. plan




Medium
Learning Objective: 2




13. (p. 4) Strategic issues require which level of management decisions?
A) Operative
B. Top
C. Front-line
D. Middle




Easy
Learning Objective: 2



14. (p. 5) Strategic decisions ostensibly commit the_ firm for
A) 1-2 years
B. The_ short term
C. 3-4 years
D. A long time, typically five years




Medium
Learning Objective: 2




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