Exam (elaborations)
Strategic Management in Action 6th Edition By Mary A. Coulter - Test Bank
- Module
- Strategic Management
- Institution
- Strategic Management
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,Strategic Management in Action, 6e (Coulter)Chapter 1 Introducing the Concepts
1) Companies that use strategic management tend to have higher levels of performance.
Answer: TRUE
Diff: 2 Page Ref: 2
Topic: Explain Why Strategic Management Is Important
AACSB: Reflective Thinking
Objective: Define strategic management and identify its basic components
2) Strategy should be developed from a number of approaches rather than a single approach.
Answer: TRUE
Diff: 2 Page Ref: 3
Topic: Explain Why Strategic Management Is Important
AACSB: Reflective Thinking
Objective: Define strategic management and identify its basic components
3) An organization's simple action can be considered a strategy.
Answer: FALSE
Diff: 2 Page Ref: 5
Topic: Explain What Strategic Management Is
AACSB: Analytical Skills
Objective: Define strategic management and identify its basic components
4) Strategy involves only the examination of an organization's goals.
Answer: FALSE
Diff: 2 Page Ref: 5
Topic: Explain What Strategic Management Is
AACSB: Analytical Skills
Objective: Define strategic management and identify its basic components
5) An organization's strategy is its goal-directed decisions and actions in which its capabilities
and resources are matched with the opportunities and threats in its environment.
Answer: TRUE
Diff: 2 Page Ref: 5
Topic: Explain What Strategic Management Is
AACSB: Analytical Skills
Objective: Define strategic management and identify its basic components
6) A situation analysis is the first step in the sequential strategic management process.
Answer: TRUE
Diff: 1 Page Ref: 6
Topic: Explain What Strategic Management Is
AACSB: Analytical Skills
Objective: Define strategic management and identify its basic components
,7) Functional strategies are the goal-directed plans and actions of the organization's various
functional departments.
Answer: FALSE
Diff: 1 Page Ref: 7
Topic: Explain What Strategic Management Is
AACSB: Reflective Thinking
Objective: Define strategic management and identify its basic components
8) Business strategies are concerned with the broad and more long-term choices of "what
business(es) are we in or do we want to be in, and what do we want to do with these businesses?"
Answer: FALSE
Diff: 2 Page Ref: 7
Topic: Explain What Strategic Management Is
AACSB: Reflective Thinking
Objective: Define strategic management and identify its basic components
9) Strategy implementation is the process of evaluating how the strategy has been implemented,
as well as the outcomes of the strategy.
Answer: FALSE
Diff: 1 Page Ref: 8
Topic: Explain What Strategic Management Is
AACSB: Reflective Thinking
Objective: Define strategic management and identify its basic components
10) The Surprise Principle of War calls for striking at the enemy at a time or a place that's
unexpected.
Answer: TRUE
Diff: 1 Page Ref: 9
Topic: Explain What Strategic Management Is
AACSB: Analytical Skills
Objective: Define strategic management and identify its basic components
11) The fields of economics and organization studies provided the earliest academic bases for
strategic management.
Answer: TRUE
Diff: 2 Page Ref: 10
Topic: Explain What Strategic Management Is
AACSB: Analytical Skills
Objective: Define strategic management and identify its basic components
12) A company's board of directors' legal obligation is to represent the shareholders and protect
their interests.
Answer: TRUE
Diff: 2 Page Ref: 11
Topic: Explain Who's Involved With Strategic Management
AACSB: Ethical Reasoning
Objective: Describe modern corporate governance practices
13) Significant changes in legal mandates, investor activism, and corporate strategy have
, changed the roles of many boards in the strategic management process.
Answer: TRUE
Diff: 2 Page Ref: 12
Topic: Explain Who's Involved With Strategic Management
AACSB: Ethical Reasoning
Objective: Describe modern corporate governance practices
14) Preparation of strategic plans are a typical board responsibility.
Answer: FALSE
Diff: 1 Page Ref: 12
Topic: Explain Who's Involved With Strategic Management
AACSB: Reflective Thinking
Objective: Define strategic management and identify its basic components
15) The CEO's typical role is that of the chief strategist.
Answer: TRUE
Diff: 2 Page Ref: 12
Topic: Explain Who's Involved With Strategic Management
AACSB: Analytical Skills
Objective: Define strategic management and identify its basic components
16) Strategy formulation is the responsibility of managers and employees at other levels
throughout the organization.
Answer: FALSE
Diff: 2 Page Ref: 13
Topic: Explain Who's Involved With Strategic Management
AACSB: Analytical Skills
Objective: Define strategic management and identify its basic components
17) The most basic question(s) in strategy is (are)
A) Is strategy important?
B) Why do firms succeed or fail?
C) Why do firms have varying levels of performance?
D) Is strategy important? and Why do firms have varying levels of performance?
E) Why do firms succeed or fail? and Why do firms have varying levels of performance?
Answer: E
Diff: 2 Page Ref: 2
Topic: Explain Why Strategic Management Is Important
AACSB: Reflective Thinking
Objective: Define strategic management and identify its basic components
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