Strategic Management
Multiple Choice
Introduction
59. The term “environment” includes all of the following except:
a. air.
b. water.
c. firms.
d. natural resources.
e. fauna.
Ans: c Page: 4
60. The one factor that has most significantly impacted the nature and core of buying and selling in nearly all industries has been
a. the Internet.
b. political borders.
c. corporate greed.
d. customer and employee focus.
e. the government. Ans: a Page: 4 What Is Strategic Management? 61. 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?
a. Strategy formulation
b. Strategy evaluation
c. Strategy implementation
d. Strategic management
e. Strategic leading
Ans: d Page: 5
62. ____________ is used to refer to strategic formulation, implementation and evaluation, with ______________ referring only to strategic formulation.
a. Strategic planning; strategic management
b. Strategic planning; strategic processing
c. Strategic management; strategic planning
d. Strategic management; strategic processing
e. Strategic implementation; strategic focus Ans: c Page: 5
63. During what stage of strategic management are a firm’s specific internal strengths and weaknesses determined?
a. Formulation
b. Implementation
c. Evaluation
d. Feedback
e. Goal-setting
Ans: a Page: 5
64. 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
Ans: a Page: 6 65. 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
e. Competitive advantage
Ans: c Page: 6 66. What types of skills are especially critical for successful strategy implementation?
Introduction
59. The term “environment” includes all of the following except:
a. air.
b. water.
c. firms.
d. natural resources.
e. fauna.
Ans: c Page: 4
60. The one factor that has most significantly impacted the nature and core of buying and selling in nearly all industries has been
a. the Internet.
b. political borders.
c. corporate greed.
d. customer and employee focus.
e. the government. Ans: a Page: 4 What Is Strategic Management? 61. 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?
a. Strategy formulation
b. Strategy evaluation
c. Strategy implementation
d. Strategic management
e. Strategic leading
Ans: d Page: 5
62. ____________ is used to refer to strategic formulation, implementation and evaluation, with ______________ referring only to strategic formulation.
a. Strategic planning; strategic management
b. Strategic planning; strategic processing
c. Strategic management; strategic planning
d. Strategic management; strategic processing
e. Strategic implementation; strategic focus Ans: c Page: 5
63. During what stage of strategic management are a firm’s specific internal strengths and weaknesses determined?
a. Formulation
b. Implementation
c. Evaluation
d. Feedback
e. Goal-setting
Ans: a Page: 5
64. 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
Ans: a Page: 6 65. 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
e. Competitive advantage
Ans: c Page: 6 66. What types of skills are especially critical for successful strategy implementation?