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strategic management exam
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strategic management exam
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Page 1 of 26strategic management exam
military strategy is based 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 - answer-conflict; competition
________ is not a strategy-implementation activity.
a. taking corrective actions
b. establishing annual objectives
c. devising policies
d. allocating resources
e. motivating employees - answer-a. taking corrective actions
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? - answer-strategic management
what types of skills are especially critical for successful strategy implementation?
a. marketing
b. technical
c. visionary
d. conceptual
e. interpersonal - answer-e. interpersonal
the strategic-management process is becoming more widely used by
, Page 2 of 26
a. small firms.
b. nonprofit institutions.
c. governmental organizations.
d. multinational conglomerates.
e. all types of organizations - answer-e. all types of organizations
what are enduring statements of purpose that distinguish one business from other similar firms?
a. employee conduct guidelines
b. mission statements
c. objectives
d. policies
e. rules - answer-b. mission statements
what are the means by which long-term objectives will be achieved? - answer-strategies
what is considered to be 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 - answer-b. developing a vision statement
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. achieve and maintain competitive
advantage
, Page 3 of 26
an important activity in ________ is taking corrective action.
a. strategy evaluation
b. strategy implementation
c. strategy formulation
d. strategy leadership
e. all of the above - answer-a. strategy evaluation
in which phase of strategic management are long-term objectives especially important?
a. formulation
b. control
c. evaluation
d. implementation
e. management - answer-a. formulation
which statement best describes intuition?
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. - answer-c. it should be coupled with analysis in decision-making.
to gain ________ firms need to provide unique products and services. - answer-a sustainable
competitive advantage
generally, external 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.
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