Question 1

The perspective that the most successful organization will be the one that best adapts to existing forces is called _____.

Accepted Answer

A)  environmental determinism 
B)  situation analysis 
C)  strategic management 
D)  enactment 
E)  strategic thinking 
A)  environmental determinism 
B)  situation analysis 
C)  strategic management 
D)  enactment 
E)  strategic thinking

Question 2

An emergent strategy is _____.

Accepted Answer

A)  one that takes place in emergent markets 
B)  one that is intended 
C)  one that is not planned or intended 
D)  one that employs a resource based approach 
E)  one that relies on a board of directors 
A)  one that takes place in emergent markets 
B)  one that is intended 
C)  one that is not planned or intended 
D)  one that employs a resource based approach 
E)  one that relies on a board of directors

Question 3

Which strategic management perspective relies on an economic view of the firm?

Accepted Answer

A)  resource base 
B)  stakeholder 
C)  emergent 
D)  traditional 
E)  deliberate 
A)  resource base 
B)  stakeholder 
C)  emergent 
D)  traditional 
E)  deliberate

Question 4

The approach to strategic management that envisions the firm at the center of a network of constituencies is known as the _____.

Accepted Answer

A)  traditional approach 
B)  stakeholder approach 
C)  resource-based approach 
D)  strategic approach 
E)  industrial organization approach 
A)  traditional approach 
B)  stakeholder approach 
C)  resource-based approach 
D)  strategic approach 
E)  industrial organization approach

Question 5

The resources of a firm include all of the following except _____.

Accepted Answer

A)  financial 
B)  physical 
C)  human resource 
D)  organization knowledge 
E)  industry 
A)  financial 
B)  physical 
C)  human resource 
D)  organization knowledge 
E)  industry

Question 6

How many different levels of strategy formulation are there?

Accepted Answer

A)  two 
B)  four 
C)  five 
D)  one 
E)  three 
A)  two 
B)  four 
C)  five 
D)  one 
E)  three

Question 7

Defining a company's domain for activity by selecting business areas in which the company will compete is called _____.

Accepted Answer

A)  corporate-level strategy formulation 
B)  strategy formulation 
C)  vision formulation 
D)  business-level strategy formulation 
E)  functional-level strategy formulation 
A)  corporate-level strategy formulation 
B)  strategy formulation 
C)  vision formulation 
D)  business-level strategy formulation 
E)  functional-level strategy formulation

Question 8

Determining how business should compete in the areas they have selected is called _____.

Accepted Answer

A)  vision formulation 
B)  strategy formulation 
C)  corporate-level strategy formulation 
D)  business-level strategy formulation 
E)  functional-level strategy formulation 
A)  vision formulation 
B)  strategy formulation 
C)  corporate-level strategy formulation 
D)  business-level strategy formulation 
E)  functional-level strategy formulation

Question 9

What defines the purposed for which a company exists and operates?

Accepted Answer

A)  strategic vision 
B)  strategic mission 
C)  strategic direction 
D)  strategic formulation 
E)  strategic thinking 
A)  strategic vision 
B)  strategic mission 
C)  strategic direction 
D)  strategic formulation 
E)  strategic thinking

Question 10

The means to encourage strategic thinking include all the following except _____.

Accepted Answer

A)  strategic thinking training 
B)  rewarding employees that generate new ideas 
C)  incorporating strategic thinking into strategic planning 
D)  demoting or firing those employees who do not demonstrate strategic thinking 
E)  encouraging firms to take risks 
A)  strategic thinking training 
B)  rewarding employees that generate new ideas 
C)  incorporating strategic thinking into strategic planning 
D)  demoting or firing those employees who do not demonstrate strategic thinking 
E)  encouraging firms to take risks

Question 11

Define and briefly discuss the benefits of the stakeholder approach to strategic management.

Accepted Answer

The stakeholder approach to strategic ma

The perspective that the most successful organization will be the one that best adapts to existing forces is called _____.

An emergent strategy is _____.

Which strategic management perspective relies on an economic view of the firm?

The approach to strategic management that envisions the firm at the center of a network of constituencies is known as the _____.

The resources of a firm include all of the following except _____.

How many different levels of strategy formulation are there?

Defining a company's domain for activity by selecting business areas in which the company will compete is called _____.

Determining how business should compete in the areas they have selected is called _____.

What defines the purposed for which a company exists and operates?

The means to encourage strategic thinking include all the following except _____.

Define and briefly discuss the benefits of the stakeholder approach to strategic management.

The Environment and External Stakeholders

Strategic Direction

Organizational Resources and Competitive Advantage

Strategy Formulation at the Business-Unit Level

Corporate-Level Strategy and Restructuring

Strategy Implementation Through Interorganizational Relationships and Management of Functional Resources

Strategy Implementation Through Organizational Design and Control

Strategies for Entrepreneurship and Innovation

Global Strategic Management and the Future

Filters

Exam 1: Strategic Management

The perspective that the most successful organization will be the one that best adapts to existing forces is called _____.

An emergent strategy is _____.

Which strategic management perspective relies on an economic view of the firm?

The approach to strategic management that envisions the firm at the center of a network of constituencies is known as the _____.

The resources of a firm include all of the following except _____.

How many different levels of strategy formulation are there?

Defining a company's domain for activity by selecting business areas in which the company will compete is called _____.

Determining how business should compete in the areas they have selected is called _____.

What defines the purposed for which a company exists and operates?

The means to encourage strategic thinking include all the following except _____.

Define and briefly discuss the benefits of the stakeholder approach to strategic management.

The Environment and External Stakeholders

Strategic Direction

Organizational Resources and Competitive Advantage

Strategy Formulation at the Business-Unit Level

Corporate-Level Strategy and Restructuring

Strategy Implementation Through Interorganizational Relationships and Management of Functional Resources

Strategy Implementation Through Organizational Design and Control

Strategies for Entrepreneurship and Innovation

Global Strategic Management and the Future

Filters