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1 | |
The remote external environment comprises competitors, suppliers, and government agencies. |
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| | A) | True |
| | B) | False |
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2 | |
Conducting an analysis that reflects the company's internal conditions and capabilities is one of the critical tasks of strategic management. |
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| | A) | True |
| | B) | False |
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3 | |
Strategic issues require middle-management decisions. |
|
| | A) | True |
| | B) | False |
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4 | |
A strategy is a company's game plan. |
|
| | A) | True |
| | B) | False |
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5 | |
The decision-making hierarchy of a firm typically contains three levels. |
|
| | A) | True |
| | B) | False |
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6 | |
Competitors are a part of a firm's |
|
| | A) | remote external environment |
| | B) | immediate external environment |
| | C) | internal environment |
| | D) | resource environment |
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7 | |
By _______, managers mean their large-scale, future-oriented plans for interacting with the competitive environment to achieve company objectives. |
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| | A) | mission |
| | B) | goals |
| | C) | strategy |
| | D) | objectives |
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8 | |
Strategic issues often affect the firm's ______ prosperity. |
|
| | A) | short-term |
| | B) | immediate |
| | C) | medium-term |
| | D) | long-term |
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9 | |
The top level of the decision-making hierarchy is the |
|
| | A) | corporate |
| | B) | business |
| | C) | functional |
| | D) | board |
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10 | |
Annual objectives and short-term strategies in such areas as production, marketing, and human relations are developed by managers at the |
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| | A) | functional level |
| | B) | corporate level |
| | C) | business level |
| | D) | board level |
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11 | |
______ level decisions involve action-oriented operational issues and are relatively short range and low risk. |
|
| | A) | Corporate |
| | B) | Functional |
| | C) | Business |
| | D) | Board |
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12 | |
__________ refers to the degree to which participants, responsibilities, authority, and discretion in decision making are specified. |
|
| | A) | Centrality |
| | B) | Integrity |
| | C) | Formality |
| | D) | Alacrity |
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13 | |
The interaction between the CEO and the ______ is key to any corporation's strategy. |
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| | A) | top managers |
| | B) | middle managers |
| | C) | board |
| | D) | functional managers |
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14 | |
Which of the following typically plays a prominent role in the strategic planning process? |
|
| | A) | CEO |
| | B) | Board |
| | C) | Functional managers |
| | D) | Business-level managers |
|
15 | |
The ______ of a company is the unique purpose that sets it apart from other companies of its type and identifies the scope of its operations. |
|
| | A) | philosophy |
| | B) | goal |
| | C) | mission |
| | D) | objective |
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16 | |
A firm's _________ environment consists of all the conditions and forces that affect its strategic options and define its competitive situation. |
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| | A) | resource |
| | B) | internal |
| | C) | external |
| | D) | strategic |
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17 | |
Low cost, differentiation, and focus are ________ strategy options. |
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| | A) | grand |
| | B) | generic |
| | C) | functional |
| | D) | corporate |
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18 | |
Market development is an example of a |
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| | A) | generic strategy |
| | B) | grand strategy |
| | C) | functional-level strategy |
| | D) | business-level strategy |
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19 | |
Downsizing, restructuring, and ______ are terms that reflect the critical stage in strategy implementation wherein managers attempt to recast their organization. |
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| | A) | strategizing |
| | B) | positioning |
| | C) | reengineering |
| | D) | liquidating |
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20 | |
_________ are influential individuals and groups that are vitally interested in the actions of the business. |
|
| | A) | Managers |
| | B) | CEOs |
| | C) | Board of directors |
| | D) | Stakeholders |