12e_TB_Chap_7

Strategic Management: Creating Competitive Advantages

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Chapter 07 - Long-Term Objectives and Strategies Chapter 07 Long-Term Objectives and Strategies Multiple Choice Questions 1. (p. 179) Objectives should be suited to the broad aims of the organization which are expressed in the statement of the company: A. Profile B. Mission C. Philosophy D. Goals Difficulty: Medium Learning Objective: 1 2. (p. 179) The function of objectives is: A. To provide a specific statement of the desires of the firm B. To deal with profitability, growth and survival without specific targets or time frames C. To provide specific benchmarks for evaluating the company's progress in achieving its aims D. To enhance stock market optimism Difficulty: Easy Learning Objective: 1 3. (p. 179) Which of the following are intended to provide benchmarks for the evaluation of the company's progress in achieving its aim? A. Mission B. Long-term objectives C. Grand strategies D. Business policies Difficulty: Easy Learning Objective: 1 7-1
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Chapter 07 - Long-Term Objectives and Strategies 4. (p. 179) Grand strategies provide a comprehensive general approach to guide the organization's: A. Major actions designed to accomplish long-term objectives B. Major actions designed to accomplish short-term objectives C. Operational actions designed to accomplish short-term objectives D. Operational actions designed to accomplish intermediate term objectives Difficulty: Easy Learning Objective: 1 5. (p. 179-180) Which of the following is NOT a commonly pursued long-term objective as described in the text? A. Profitability B. Public responsibility C. Efficiency D. Productivity Difficulty: Easy Learning Objective: 1 6. (p. 179-180) To achieve long-term prosperity, strategic planners commonly establish objectives in which of the following? A. Profitability, employee relations and public responsibility B. Acceptability C. Flexibility D. Joint ventures only Difficulty: Medium Learning Objective: 1 7-2
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Chapter 07 - Long-Term Objectives and Strategies 7. (p. 180) To achieve long-term prosperity, strategic managers commonly establish long-term objectives in seven areas. Which of the following describes one of these areas? A. Technological leadership B. Technological innovation C. Social change D. Marketing Difficulty: Medium Learning Objective: 1 8. (p. 180) Competitive position as a measure of corporate success is typically measured as: A. The input-output relationship of the company B. The earnings per share of the company C. The company's relative dominance in the marketplace D. The firm's stock value Difficulty: Medium Learning Objective: 1 9. (p. 180) Larger firms often establish an objective by which to gauge their comparative ability for growth and profitability. This is often stated in terms of: A. Competitive product line B. Competitive position C. Product innovation D. Competitive edge Difficulty: Medium Learning Objective: 1 7-3
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Chapter 07 - Long-Term Objectives and Strategies 10. (p. 180) Establishing objectives for minority training is an example of which type of long-
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12e_TB_Chap_7 - Chapter 07 Long-Term Objectives and...

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