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Strategic Management: A Competitive Advantage Approach, 16e (David)
Chapter 1 The Nature of Strategic Management
1) The goal of strategic management is to
A) achieve competitive advantage.
B) maintain competitive advantage.
C) achieve and maintain competitive advantage.
D) eliminate competitive advantage.
E) eliminate and abolish competitive advantage.
Answer: C
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Analytical thinking
2) Strategic management focuses on integrating management, ________, and information
systems to achieve organizational success.
A) marketing
B) finance and accounting
C) production and operations
D) research and development
E) all of the above
Answer: E
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Written and oral communication 3) What can be defined as the art and science of formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives?
A) Strategy formulation
B) Strategy evaluation
C) Strategy implementation
D) Strategic management
E) Strategic leading
Answer: D
Diff: 1
LO: 1.1: Describe the strategic-management process.
AACSB: Written and oral communication 4) In recent years, the speedy flow of information through technology has
A) made it harder for people worldwide to see how others work and live.
B) strengthened national boundaries and made countries more self-contained.
C) created a borderless world with global competitors, customers, and citizens.
D) ensured that the United States is unrivaled by other companies in all industries.
E) made the real flow of financial activity align with political boundaries between countries.
Answer: C
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Written and oral communication
5) The strategic-management process is becoming more widely used by
A) small firms.
B) nonprofit institutions.
C) governmental organizations.
D) multinational conglomerates.
E) all of the above
Answer: E
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Written and oral communication
6) An organization should take a(n) ________ approach in its industry.
A) adversarial rather than a collegial
B) collegial rather than an adversarial C) reactive rather than a proactive
D) proactive rather than a reactive
E) cooperative rather than a competitive
Answer: D
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Written and oral communication
7) The strategic-management process represents a(n) ________, ________, and ________ approach for determining an enterprise's future direction.
A) logical; systematic; subjective
B) intuitive; disorganized; subjective
C) logical; systematic; objective
D) intuitive; disorganized; objective
E) inconsistent; systematic; subjective
Answer: C
Diff: 2
LO: 1.1: Describe the strategic-management process.
AACSB: Written and oral communication
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