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GEB Actual Test Questions Solved100%| Latest Update 2024 |Already
Passed
An important activity in ________ is taking corrective action.
strategy evaluation
strategy implementation
strategy formulation
strategy leadership
all of the above - ✔✔A) Strategy evaluation
What step in the strategic management process involves mobilizing employees and managers to put
strategies into action?
Strategy formulation
Strategy evaluation
Strategy implementation
Strategic advantage
Competitive advantage - ✔✔C) Strategy implementation
What types of skills are especially critical for successful strategy implementation?
Interpersonal
Marketing
Technical
Conceptual
Visionary - ✔✔A) Interpersonal
,With which phase of strategic management is most strongly associated with "action"?
Strategy formulation
Strategy implementation
Strategy evaluation
Competing advantages
Measuring performance - ✔✔B) Strategy Implementation
________ is NOT a strategy-implementation activity.
Taking corrective actions
Establishing annual objectives
Devising policies
Allocating resources
Motivating employees - ✔✔A) Taking corrective actions
strategy evaluation is necessary because
internal and external factors are constantly changing.
the SEC requires strategy evaluation.
success today is a guarantee of success tomorrow.
the IRS requires strategy evaluation.
firms have limited resources - ✔✔A) Internal and external factors are constantly changing
In which phase of strategic management are annual objectives are especially important?
Reduction
Formulation
Implementation
Evaluation
Policy - ✔✔C) Implementation
,In which phase of strategic management are long-term objectives especially important?
Formulation
Control
Evaluation
Implementation
Management - ✔✔A) Formulation
T or F: The decision to expand or diversify operations is a strategy-formulation issue. - ✔✔True
T or F: The decision to merge is a strategy-formulation issue but the decision to form a joint venture is a
strategy-implementation issue. - ✔✔False
T or F: Strategy implementation is often considered to be the most difficult stage in the strategic-
management process. - ✔✔True
T or F: The final stage in strategic management is strategy implementation. - ✔✔False
T or F: In most large organizations that engage in strategic management, the formulation,
implementation, and evaluation of strategy activities occur at three hierarchical levels:
corporate; divisional or strategic business unit; and functional. - ✔✔True
T or F: One of the fundamental strategy evaluation activities is reviewing the external and internal
factors on which strategies are based. - ✔✔True
T or F: Many organizations mistakenly spend more time and effort on the implementation of a
plan, than on the formulation of the plan itself. - ✔✔False
Which stage in the strategic-management process is the most difficult? Explain why. - ✔✔Strategy
implementation is the most difficult stage in the strategic-management process because it requires
personal discipline, commitment and sacrifice. Successful strategy implementation hinges upon
, managers' ability to motivate employees, which is more of an art than a science. Interpersonal skills
are especially critical for successful strategy implementation.
Which statement best describes intuition?
It alone should be used in decision-making.
It represents a minor factor in decision-making integrated with analysis.
It should be coupled with analysis in decision-making.
It is better than analysis in decision-making.
It is management by ignorance. - ✔✔C) It should be coupled with analysis in decision-making
T or F: Analytical and intuitive thinking complement each other. - ✔✔True
T or F: According to Albert Einstein, "Knowledge is far more important than intuition." - ✔✔False
T or F: According to Peter Drucker "Imagination is more important than knowledge, because knowledge
is limited, whereas imagination embraces the entire world." - ✔✔False
or F: Management by intuition can be defined as operating from the "I've-already-made-up-my-mind-
don't-bother-me-with-the-facts mode." - ✔✔False
T or F: An objective, logical, systematic, & non intuitive approach for making major decisions in an
organization is a way to describe the strategic-management process. - ✔✔False
Discuss the value of integrating intuition and analysis. - ✔✔Most organizations can benefit from
strategic management, which is based on integrating intuition and analysis in decision making.
Choosing an intuitive or analytic approach to decision making is not an either-or proposition. Managers
at all levels in an organization inject their intuition and judgment into strategic-management analyses.
Analytical thinking and intuitive thinking complement each other. Operating from the "I've-already-
made-up-my-mind-don't-bother-me-with-the-facts" mode is not management by intuition; it is
management by ignorance. Drucker says, "I believe in intuition only if you discipline it. 'Hunch' artists,
who make a diagnosis but don't check it out with facts, are the ones in medicine who kill people, and in
management kill businesses." In a sense, the strategic-management process is an attempt both to
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