Strategic Management Quiz

Chapter 01
Strategic Management

Multiple Choice Questions 1. (p. 3) Which of the following is an element of a firm's remote external environment?
A. Competition
B. Suppliers
C. Government agencies
D. Economic and social conditions

Difficulty: Easy
Learning Objective: 1 2. (p. 3) Which of the following is NOT a part of a firm's immediate external environment?
A. Technological development
B. Competitors
C. Suppliers
D. Government agencies

Difficulty: Easy
Learning Objective: 1 3. (p. 3) The immediate external environment includes:
A. Competitors
B. S. B. U. s
C. Divisions
D. Management

Difficulty: Easy
Learning Objective: 1

4. (p. 3) The _______ comprises economic and social conditions, political priorities and technological developments, all of which must be anticipated, monitored, assessed and incorporated into the executive's decision making.
A. Remote external environment
B. Task environment
C. Operating environment
D. Internal environment

Difficulty: Easy
Learning Objective: 1 5. (p. 3) The set of decisions and actions resulting in the formulation and implementation of plans designed to achieve a company's objectives is defined as:
A. Strategic policy
B. Business policy
C. Strategic management
D. Tactics

Difficulty: Medium
Learning Objective: 2 6. (p. 3) Strategic management compromises nine critical tasks. Which of the following is NOT one of the tasks?
A. Development of annual objectives compatible with grand strategies
B. Assessment of the company's external environment
C. Selection of a particular set of long-term objectives and grand strategies
D. Evaluate the success of the strategic process

Difficulty: Medium
Learning Objective: 2

7. (p. 4) Strategic management involves the _____, directing, _____ and controlling of a company's strategy-related decisions and actions.
A. Financing; marketing
B. Planning; financing
C. Marketing; planning
D.