David - Chapter 1 - MC - Multiple Choice Questions DAVID...

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Multiple Choice Questions DAVID CHAPTER 1 The Nature of Strategic Management Introduction 1. The term “environment” includes all of the following except: a. air. b. water. c. firms. d. natural resources. e. fauna. Ans: c Page: 4 2. 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? 3. 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 4. ____________ 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 5. 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
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Ans: a Page: 5 6. 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 7. 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 8. What types of skills are especially critical for successful strategy implementation? a. Interpersonal b. Marketing c. Technical d. Conceptual e. Thinking Ans: a Page: 6 9. Which phase of strategic management is called the action phase? a. Strategy formulation b. Strategy implementation c. Strategy evaluation d. Allocating resources e. Measuring performance Ans: b Page: 6 10. __________ is not a strategy-implementation activity. a.
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This note was uploaded on 05/30/2011 for the course MIM 1001 taught by Professor Fredser during the Spring '11 term at International University in Germany.

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David - Chapter 1 - MC - Multiple Choice Questions DAVID...

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