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SMF EXAM QUESTIONS AND 100% COMPLETE ANSWERS
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SMF EXAM QUESTIONS AND 100%COMPLETE ANSWERS
1. What step in the strategic development process involves mobilizing employees and
managers to put strategies into action?
a. Formulating strategy
b. Strategy evaluation
c. Implementing strategy
d. Strategic advantage - Answer c
1. What types of skills are especially critical for successful strategy implementation?
a. Interpersonal
b. Marketing
c. Technical
d. Conceptual - Answer A
3. Which phase of strategic management is called the action phase?
a. Strategy formulation
b. Strategy implementation
c. Strategy evaluation
d. Allocating resources - Answer b
4. __________ is not a strategy-implementation activity.
a. Taking corrective actions
b. establishing annual objectives
c. Devising policies
d. Allocating resources - Answer a
5. Strategy evaluation is necessary because
a. internal and external factors are constantly changing.
, b. the SEC requires strategy evaluation.
c. competitors change their strategies.
d. the IRS requires strategy evaluation. - Answer a
6. Miles and Snow (1994) identify four main reasons for failure. Which of the following is
one of those reasons?
a .Lack of Competitive advantage
b. Lack of strategy competency
c. Lack of strategic resources
d. Poor judgment leading to poor, inappropriate strategic decision - Answer d
7. Which of these requires a firm to establish annual objectives, devise policies, and
allocate resources?
a. Strategy formulation
b. Strategy implementation
c. Strategy manipulation
d. Strategy evaluation - Answer b
8. The actual performance deviates positively over the budgeted performance. This is
an indication of ........... Performance.
a. superior
b. inferior
c. constant
d. any of the above - Answer A
9. Criteria for making an evaluation is (are)
a. Consistency with goals
b. Consistency with environment
c. Money
d. All of the above - Answer d
9. Delay in ________ measurement defeats the purpose of evaluation.
a. Time
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