12e_TB_Chap_1

Strategic Management: Creating Competitive Advantages

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Unformatted text preview: Chapter 01 - Strategic Management 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 1-1 Chapter 01 - Strategic Management 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 1-2 Chapter 01 - Strategic Management 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. Planning; organizing Difficulty: Medium Learning Objective: 2 8. (p.4) Large-scale, future-oriented plans, for interacting with the competitive environment to achieve company objectives refers to its A. Strategy B. Goals C. Competitive analysis D. Dynamic policies Difficulty: Easy Learning Objective: 2 9. (p. 4) A strategy is a company's A. Game plan B. Pricing policy C. Value statement D. Long-term objective Difficulty: Easy Learning Objective: 2 1-3 Chapter 01 - Strategic Management 10. (p. 4) A(n) _____ reflects a company's awareness of how, when and where is should compete, against whom it should compete and for what purpose it should compete. A. Vision B. Organizational structure C. Strategy D. Long-term objective Difficulty: Medium Learning Objective: 2 11. (p. 4) Strategic issues require which level of management decisions?...
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12e_TB_Chap_1 - Chapter 01 - Strategic Management Chapter...

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