Exam 1: Strategic Management and Strategic Competitiveness

The economic interdependence among countries which is reflected in the flow of goods, services, financial capital, and knowledge across country borders is defined as:

If a firm is dependent on a specific stakeholder group, that group has less influence on the firm's strategic decision making.

All of the following are assumptions of the industrial organization (I/O) model EXCEPT:

All of the following are assumptions of the resource-based model EXCEPT:

Six years ago, Colette Smith founded a successful catering company that specializes in providing a wide assortment of miniature cheesecakes for corporate and social events. Although Ms. Smith is no longer active in the actual production of the cheesecakes, she continues as president of the catering company. Ms. Smith could be considered a strategic leader of this firm.

The CEO of Twin Spires, Inc., is committed to using the expertise and resources currently in the firm to serve the needs of the natural gardening community by providing rare and native plants to individuals and nurseries around the United States.  The perspective of the CEO of Twin Spires is consistent with the assumptions of the industrial organization (I/O) model.

Research shows that a greater percentage of a firm's profitability is explained by the I/O rather than the resource-based model.

A large corporation has earned a reputation for being a challenging work environment for employees, placing demands on employees' time and pushing them to accomplish tasks, sometimes with little recognition. A recent audit found that the company was denying employees overtime pay despite the extra work. This is a reflection of the company's:

A key purpose of a mission statement is to inform _________what a firm is, what it seeks to accomplish and who it seeks to serve.

Globalization has led to:

The strategic management process is;

SWOT stands for

Returns can only be measured in accounting terms such as return on assets, return on equity, or return on sales.