Strategic Management Exam Questions With Verified Answers.
8 views 0 purchase
Course
Strategic Management
Institution
Strategic Management
Strategic Management Exam Questions With
Verified Answers.
The focus of strategic management is ______.
A. increasing return on investment
B. functional planning
C. the profits of the firm
D. separating all the functional areas of the business to achieve organizational success
E. the integra...
Strategic Management Exam Questions With
Verified Answers.
The focus of strategic management is ______.
A. increasing return on investment
B. functional planning
C. the profits of the firm
D. separating all the functional areas of the business to achieve organizational success
E. the integration of all the functional areas of the business to achieve its organizational
objectives - answer✔✔E
The logical starting point for strategic management is to ______.
A. implement the plan
B. analyze metrics
C. perform a SWOT analysis
D. identify the existing vision, mission, objectives, and strategies
E. are not used in strategic planning - answer✔✔C
The strategic-management process can be described as an objective, logical, systematic approach
for making major decisions in an organization. However, it is generally recognized that ______
is essential to making good strategic decisions.
A. ignoring intuition
B. intuition
C. ignorance
D. ignoring change
E. undisciplined intuition - answer✔✔B
Apple's financially lean position with regard to manufacturing facilities provides the firm with a
_______ over Sony, which invests heavily in manufacturing facilities.
E. disadvantage - answer✔✔A
What element of strategic management answers the question "What do we want to become?"
A. A mission statement
B. A vision statement
C. Specific long-term objectives
D. Environmental scanning
E. A SWOT - answer✔✔B
One benefit of strategic planning is that it allows a firm to be _______ in shaping its own future.
A. proactive
B. passive
C. successful
D. reactive
E. unconcerned - answer✔✔A
Three primary intrinsic benefits of strategic planning include ______.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Brightstars. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.