Exam 01 Review Questions

Exam 01 Review Questions - SAMPLE EXAM QUESTIONS FOR CH...

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SAMPLE EXAM QUESTIONS FOR CH 1-5, 11 MGMT 451 – JACOBSON – FALL 2009 Chapter 1 1. Above-average returns are: a. More profits than the firm earned last year b. More profits than the industry average c. Profits in excess of what an investor expects to earn from a historical pattern of performance of the firm d. Profits in excess of what an investor expects to earn from other investments with a similar level of risk. 2. Strategic intent seeks to ensure that: a. The goals of the firm are realistic b. The goals of the firm are non-specific in order to allow creativity c. Only top-level managers are committed to the goals of the organization d. All of the organization’s employees are focused on achieving the firm’s goals 3. The strategist’s work is characterized by: a. High income levels b. A high level of certainty in the organization c. A lack of ability to affect firm direction d. Ambiguous decision situations. Define strategic competitiveness and above-average returns. Describe and discuss strategic intent and strategic mission. Describe an organization’s various stakeholders and their different interests. Who are organizational strategists and for what are they responsible? Chapter 2 4. The political/legal segment of an environment respresents the: a. Political preferences of different ethnic groups in the society b. Technological values of different political entities in society c. Ways in which firms and other organizations try to influence government and how government influences them d. Study of attitudes held by businesses and other organizations toward government.
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5. Product differentiation refers to the: a. Ability of the buyers of a product to negotiate a lower price
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Exam 01 Review Questions - SAMPLE EXAM QUESTIONS FOR CH...

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