Question 1

A goal differs from an objective because it

Accepted Answer

A)   is open-ended.
B)   is quantified.
C)   specifies measurable results.
D)   is clearly specified.
E)   provides a time horizon.F) B) and C)
G) All of the above

Question 2

Logical incrementalism is a useful decision-making mode when the environment is rapidly changing and when it is important to build consensus to a specific strategy.

Accepted Answer

A) True 
 B)False

Question 3

Strategic flexibility is the ability to shift from one dominant strategy to another.

Accepted Answer

A) True 
 B)False

Question 4

While the strategic audit is not an all-inclusive list,it presents many of the critical questions needed for a detailed strategic analysis of any business.

Accepted Answer

A) True 
 B)False

Question 5

Which one of the following is an example of a mission with a narrow scope?

Accepted Answer

A)   transportation (vs. railroads) 
B)   computers (vs. office equipment) 
C)   health care (vs. hospitals) 
D)   real estate (vs. apartments) 
E)   telecommunications (vs. television) F) B) and E)
G) A) and B)

Question 6

The theory that proposes organizations can and do adapt to changing conditions by imitating other successful organizations is known as

Accepted Answer

A)   population ecology.
B)   institution theory.
C)   citizenship theory.
D)   strategic theory.
E)   sample theory.F) D) and E)
G) A) and D)

Question 7

A functional strategy may include competitive or cooperative strategies.

Accepted Answer

A) True 
 B)False

Question 8

What are the four main activities of a learning organization?

Accepted Answer

The four main activities of a learning o...

Question 9

The internal environment includes the variables within the organization itself that are within the short-run control of top management.

Accepted Answer

A) True 
 B)False

Question 10

Performance results are monitored at the strategy formulation phase of the strategic management process.

Accepted Answer

A) True 
 B)False

Question 11

As more industries become global,strategic management is becoming less important in positioning a company for long-term competitive advantage.

Accepted Answer

A) True 
 B)False

Question 12

The type of strategy,which emphasizes the improvement of the competitive position of a corporation's products or services in a particular industry or market segment served by a business unit is

Accepted Answer

A)   functional.
B)   operational.
C)   business.
D)   environmental.
E)   corporate.F) A) and B)
G) B) and D)

Question 13

A budget is a statement of a corporation's programs in terms of dollars.

Accepted Answer

A) True 
 B)False

Question 14

The term used to describe new products,services,methods,and organizational approaches that allow businesses to achieve extraordinary returns is

Accepted Answer

A)   ROI.
B)   innovation.
C)   competitive advantage.
D)   sustainability.
E)   profit maximization.F) B) and D)
G) D) and E)

Question 15

Knowing a company is mindful of its impact on the environment seldom changes consumer buying habits.

Accepted Answer

A) True 
 B)False

Question 16

The mode of strategy formulation used when top management has a reasonably clear idea of the corporation's mission and objectives,but chooses to develop a series of tentative or partial strategies instead of developing full-blown strategies is called

Accepted Answer

A)   planning mode.
B)   logical incrementalism.
C)   entrepreneurial mode.
D)   adaptive mode.
E)   strategic mode.F) C) and D)
G) B) and E)

Question 17

As defined in this course,a policy is

Accepted Answer

A)   the purpose or reason for a corporation's existence.
B)   a statement of activities or steps needed to accomplish a single-use plan.
C)   a broad guideline for making decisions that links the formulation of strategy with its implementation.
D)   a comprehensive master plan stating how a corporation will achieve its mission and objectives.
E)   a statement of a corporation's programs in dollar terms.F) A) and D)
G) A) and C)

Question 18

The ability of a corporation to shift from one dominant strategy to another is called

Accepted Answer

A)   strategy implementation.
B)   chaos formulation.
C)   contingency management.
D)   logical incrementalism.
E)   strategic flexibility.F) A) and D)
G) None of the above

Question 19

Define globalization and identify the role of strategic management in globalization.

Accepted Answer

Globalization is the internationalizatio...

Question 20

The existence of a performance gap

Accepted Answer

A)   should cause management to question their objectives, strategies, and policies.
B)   is not an indicator of problems if it only happens once.
C)   is only the concern of top management because they set the original strategies.
D)   should cause management to look only within the organization to determine the problem.
E)   should signal the immediate need for a layoff.F) A) and E)
G) A) and D)

Exam 1: Basic Concepts in Strategic Management

Define globalization and identify the role of strategic management in globalization.

Correct AnswerverifiedGlobalization is the internationalizatio...View AnswerShow Answer

Knowing a company is mindful of its impact on the environment seldom changes consumer buying habits.

Correct AnswerverifiedShow Answer

Logical incrementalism is a useful decision-making mode when the environment is rapidly changing and when it is important to build consensus to a specific strategy.

Correct AnswerverifiedShow Answer

The theory that proposes organizations can and do adapt to changing conditions by imitating other successful organizations is known as

Correct AnswerverifiedShow Answer

The existence of a performance gap

Correct AnswerverifiedShow Answer

The term used to describe new products,services,methods,and organizational approaches that allow businesses to achieve extraordinary returns is

Correct AnswerverifiedShow Answer

Which one of the following is an example of a mission with a narrow scope?

Correct AnswerverifiedShow Answer

Strategic flexibility is the ability to shift from one dominant strategy to another.

Correct AnswerverifiedShow Answer

A goal differs from an objective because it

Correct AnswerverifiedShow Answer

What are the four main activities of a learning organization?

Correct AnswerverifiedThe four main activities of a learning o...View AnswerShow Answer

As defined in this course,a policy is

Correct AnswerverifiedShow Answer

The ability of a corporation to shift from one dominant strategy to another is called

Correct AnswerverifiedShow Answer

While the strategic audit is not an all-inclusive list,it presents many of the critical questions needed for a detailed strategic analysis of any business.

Correct AnswerverifiedShow Answer

As more industries become global,strategic management is becoming less important in positioning a company for long-term competitive advantage.

Correct AnswerverifiedShow Answer

Performance results are monitored at the strategy formulation phase of the strategic management process.

Correct AnswerverifiedShow Answer

The internal environment includes the variables within the organization itself that are within the short-run control of top management.

Correct AnswerverifiedShow Answer

A functional strategy may include competitive or cooperative strategies.

Correct AnswerverifiedShow Answer

The type of strategy,which emphasizes the improvement of the competitive position of a corporation's products or services in a particular industry or market segment served by a business unit is

Correct AnswerverifiedShow Answer

A budget is a statement of a corporation's programs in terms of dollars.

Correct AnswerverifiedShow Answer

The mode of strategy formulation used when top management has a reasonably clear idea of the corporation's mission and objectives,but chooses to develop a series of tentative or partial strategies instead of developing full-blown strategies is called

Correct AnswerverifiedShow Answer

Correct Answer
verified
Globalization is the internationalizatio...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The four main activities of a learning o...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified