Answer true diff 1 lo 23 how is strategic planning

Answer: TRUE
Diff: 1
LO: 2.3: How is strategic planning carried out at the business unit level?
108) Internal analysis in SWOT involves analyzing the possible opportunities and threats that
can come from the market.
Answer: TRUE
Diff: 1
LO: 2.3: How is strategic planning carried out at the business unit level?
109) Once a SWOT analysis has been completed, the strategic planner is ready to proceed to the
goal formulation stage of the strategic-planning process model.
Answer: TRUE
Diff: 1
LO: 2.3: How is strategic planning carried out at the business unit level?
AACSB: Analytical thinking

110) In applying MBO (management by objectives) all objectives are treated as being equally
important.
Answer: FALSE
Diff: 2
LO: 2.3: How is strategic planning carried out at the business unit level?
111) For an MBO (management by objectives) system to work, one of the four criteria that the
unit's objectives must meet is that objectives must be stated quantitatively whenever possible.
Answer: TRUE
Diff: 1
LO: 2.3: How is strategic planning carried out at the business unit level?
AACSB: Reflective thinking
112) Contrary to popular belief, it is not possible to maximize sales and profits simultaneously.
Answer: TRUE
Diff: 2
LO: 2.3: How is strategic planning carried out at the business unit level?
AACSB: Ethical understanding and reasoning
113) A firm that is always working to improve its product offerings such that consumer needs are
addressed more efficiently is following a differentiation strategy.
Answer: TRUE
Diff: 1
LO: 2.3: How is strategic planning carried out at the business unit level?
AACSB: Reflective thinking
114) A firm employing a focus strategy concentrates on achieving superior performance in an
important customer benefit area valued by a large part of the market.
Answer: FALSE
Diff: 2
LO: 2.3: How is strategic planning carried out at the business unit level?
AACSB: Analytical thinking
115) Partner relationship management is now considered as a core skill fundamental to the
development and maintenance of strategic alliances.
Answer: TRUE
Diff: 1
LO: 2.3: How is strategic planning carried out at the business unit level?
AACSB: Interpersonal relations and teamwork
116) Firms directing the same strategy to the same target market constitute a strategic group.
Answer: TRUE
Diff: 2
LO: 2.3: How is strategic planning carried out at the business unit level?
AACSB: Analytical thinking

117) A written document that summarizes what the marketer has learned about the marketplace
and indicates how the firm plans to reach its marketing objectives is called a vision statement.
Answer: FALSE
Diff: 2
LO: 2.3: How is strategic planning carried out at the business unit level?
118) The final step in the business unit strategic-planning process is strategy formulation.
Answer: FALSE
Diff: 2
LO: 2.3: How is strategic planning carried out at the business unit level?