final review - Date Strategic Management Team Member Names...

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Date:January 24, 2011 Strategic Management Team Member Names: Chantel Areizaga, Keith Hernandez, Kamah Swaray, Tawan Fields _____________________________________________________________________________ _ Multiple Choice Questions 1. 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 2. 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 3. The immediate external environment includes: A. Competitors B. S. B. U. s C. Divisions D. Management 4. The unique purpose that sets a company apart from others of its type and identifies the scope of its operations. In product, market and technology terms is defined as the A. Adverse selection B. Company mission C. Moral hazard problem D. Vision statement 5 The company mission is a broadly framed but enduring statement of A. A firm's intent B. Corporate structure C. A firm's competitive positioning D. Stakeholder analysis
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6. The mission: A. Sets policy B. Describes the firm's product C. Identifies stakeholders D. Creates the board of directors 7. According to a survey of over 2000 board of directors, which of these stakeholders were perceived to be most important? A. Stockholders B. Employees C. Customers D. Society 8. Which of these stakeholders, according to a survey of board of directors, was perceived to be least important? A. Government B . Society C. Employees D. Stockholders 9. Which of these is NOT a step in incorporating the interests of stakeholders into its mission statement? A. Identification of stakeholders B. Understanding the stakeholders' specific claims vis-à-vis the firm C. Incorporating all the claims of various stakeholders into the mission with equal emphasis D. Coordination of the claims with other elements of the company mission 10. The external environment can be divided into various subcategories: A. Remote, political, social B. Remote, social, operational C. Remote, industry, operating D. Technological and social 11. A firm's external environment includes a remote sector, industry sector and an operating sector. The remote sector includes which of the following categories? A. Political, technological, economic and social B. Political, supplier power, economic and labor C. State government, production, social and economic D. Mission, company profile and competition 12. The remote external environment includes: A. Creditors B. Industry factors C. Employee D. Ecological factors
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13. ______ refers to the strategy of approaching worldwide markets with standardized products. A. Vertical integration
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final review - Date Strategic Management Team Member Names...

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