CH 2 QUESTIONS

CH 2 QUESTIONS - BUS 204 Chapter 2Strategic Planning for...

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BUS 204 Chapter 2—Strategic Planning for Competitive Advantage 1. _____ is the managerial process of creating and maintaining a fit between the organization's objectives and resources and evolving market opportunities. a. Tactical management b. The market audit c. Functional planning d. Environmental scanning e. Strategic planning 2. _____ is the process of anticipating events and determining strategies to achieve organizational object- ives. a. Planning b. Portfolio evaluation c. Forecasting d. Implementation e. Evaluation 3. A written document that acts as a guidebook of marketing activities for the marketing manager is known as the _____. a. strategy document b. marketing plan c. vision statement d. mission statement e. strategic plan 4. Earl is starting a new bank. Before their opening day Earl had a meeting with all employees. He dis- cussed their mission, defined objectives for the bank for the coming years and shared who their target market is. He talked about their product offerings and where their future branches would be located. Earl is sharing the bank’s _____. a. reengineering b. hierarchical restructuring c. financial analysis d. marketing plan e. strategic contingency planning
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5. A statement of the firm’s business based on a careful analysis of benefits sought by present and poten- tial customers and an analysis of existing and anticipated environmental conditions is known as a(n): a. business audit
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CH 2 QUESTIONS - BUS 204 Chapter 2Strategic Planning for...

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