STRATEGIC ISSUES IN ENTREPRENEURIAL VENTURES AND SMALL BUSINESSES
Over 99 percent of all businesses in the United States are small businesses.
Answer: T (p.317)
Small businesses generate about 10% of net new jobs annually
BASIC CONCEPTS IN STRATEGIC MANAGEMENT
Strategic management is one decision that determines the short-term performance of a
Answer: F (p.3)
With externally oriented planning, plans are developed by heavily involvi
STRATEGIC ISSUES IN NOT-FOR-PROFIT ORGANIZATIONS
Most not-for-profit managers have traditionally felt that business concepts were relevant to
Answer: F (p.339)
Girl Scout cookies are an examples of strate
EVALUATION AND CONTROL
The evaluation and control process ensures that the company is achieving what it set out to
Answer: T (p.262)
Top management is often better at the first two steps of the feedback model th
STRATEGY IMPLEMENTATION: STAFFING AND DIRECTING
Leading focuses on the selection and use of employees.
Answer: F (p.240)
Staffing issues can involve hiring new people with new skills, firing people with inappropriate
SUGGESTIONS FOR CASE ANALYSIS
According to Schilit, forensic accounting is a search for hidden weaknesses in a companys
Answer: T (p.354)
According to Schilit, unusually high good will gains related to recent
STRATEGY FORMULATION: SITUATION ANALYSIS AND BUSINESS STRATEGY
SWOT is an acronym that stands for Strategy, Weaknesses, Opportunities, and Threats.
Answer: F (p.138)
SWOT analysis is a panacea for strategy.
Answer: F (p.139)
ETHICS AND SOCIAL RESPONSIBILITY IN STRATEGIC MANAGEMENT
The theory of vital responsibility proposes that a private corporation has responsibilities to society
that extend beyond making a profit.
Answer: F (p.56)
INTERNAL SCANNING AND ORGANIZATIONAL ANALYSIS
Resources are the organizations assets and are the basic building blocks of the organization.
Answer: T (p.106)
The resources of an organization include physical assets, human ass
STRATEGY FORMULATION: FUNCTIONAL STRATEGY AND STRATEGIC CHOICE
The orientation of the functional strategy is dictated by its parent business units strategy.
Answer: T (p.189)
Each business unit has its own set of departments
ENVIRONMENTAL SCANNING AND INDUSTRY ANALYSIS
Environmental scanning is the monitoring, evaluating, and disseminating of information from
the external and internal environments to key people within the corporation.
Answer: T (p.7
How has trade patterns changed for the world over the last century? Mention any economic
phenomena which may have contributed to these changes in your response.
Trade patterns have changed dramatically over the last
century. Specifically, distance between
STRATEGIC ISSUES IN MANAGING TECHNOLOGY AND INNOVATION
Innovation and the management of technology are not crucial to corporate success.
Answer: F (p.293)
The importance of technology and innovation must be emphasized by to
STRATEGY IMPLEMENTATION: ORGANIZING FOR ACTION
Strategy formulation is the sum total of the activities and choices required for the execution of
a strategic plan.
Answer: F (p.214
Strategy formulation and strategy implem
1. The board of directors has an obligation to approve all decisions that might affect the long-run performance of
Answer: T (p.36)
The term corporate governance refers to the relationship am