Question 1

Which of the following is not one of the four triggering events listed in the text that is the stimulus for a strategic change?

Accepted Answer

A)  intervention by the organization's bank 
B)  annual strategic planning conference 
C)  threat of a takeover 
D)  new CEO 
E)  awareness by management of decreased profitability 
A)  intervention by the organization's bank 
B)  annual strategic planning conference 
C)  threat of a takeover 
D)  new CEO 
E)  awareness by management of decreased profitability

Question 2

One tenet of the learning organization is to maintain stability.

Accepted Answer

A) True 
 B)False

Question 3

A difference between basic financial planning and forecast-based planning is

Accepted Answer

A)  the time horizon is shorter in forecast-based planning. 
B)  forecast-based planning incorporates environmental data and extrapolates current trends. 
C)  basic financial planning utilizes consultants with sophisticated techniques. 
D)  basic financial planning utilizes scenarios and contingency strategies. 
E)  basic financial planning relies heavily on input from lower levels in the organization. 
A)  the time horizon is shorter in forecast-based planning. 
B)  forecast-based planning incorporates environmental data and extrapolates current trends. 
C)  basic financial planning utilizes consultants with sophisticated techniques. 
D)  basic financial planning utilizes scenarios and contingency strategies. 
E)  basic financial planning relies heavily on input from lower levels in the organization.

Question 4

The Strategic Management Model presents the following process for strategy formulation:

Accepted Answer

A)  Objectives - Policies - Strategies - Mission. 
B)  Mission - Policies - Strategies - Objectives. 
C)  Policies - Mission - Strategies - Objectives. 
D)  Policies - Strategies - Objectives - Mission. 
E)  Mission - Objectives - Strategies - Policies. 
A)  Objectives - Policies - Strategies - Mission. 
B)  Mission - Policies - Strategies - Objectives. 
C)  Policies - Mission - Strategies - Objectives. 
D)  Policies - Strategies - Objectives - Mission. 
E)  Mission - Objectives - Strategies - Policies.

Question 5

According to Henry Mintzberg,the three most typical approaches to strategic decision-making are

Accepted Answer

A)  entrepreneurial, adaptive, and planning. 
B)  entrepreneurial, logical incrementalism, and planning. 
C)  logical incrementalism, strategic planning, and systematic scanning. 
D)  environmental scanning, formulation, and implementation. 
E)  directive, rare, and consequential. 
A)  entrepreneurial, adaptive, and planning. 
B)  entrepreneurial, logical incrementalism, and planning. 
C)  logical incrementalism, strategic planning, and systematic scanning. 
D)  environmental scanning, formulation, and implementation. 
E)  directive, rare, and consequential.

Question 6

Climate change has become a growing concern for businesses to include in their corporate strategies.

Accepted Answer

A) True 
 B)False

Question 7

A checklist of questions,by area or issue that enables a systematic analysis to be made of various corporate functions and activities is referred to as a(n)

Accepted Answer

A)  scenario. 
B)  portfolio. 
C)  strategic audit. 
D)  social responsibility audit. 
E)  SOP. 
A)  scenario. 
B)  portfolio. 
C)  strategic audit. 
D)  social responsibility audit. 
E)  SOP.

Question 8

The mode of strategic decision-making typical of most universities,many large hospitals,a large number of governmental agencies,and a surprising number of large corporations is

Accepted Answer

A)  adaptive. 
B)  entrepreneurial. 
C)  logical incrementalism. 
D)  planning. 
E)  none of the above 
A)  adaptive. 
B)  entrepreneurial. 
C)  logical incrementalism. 
D)  planning. 
E)  none of the above

Question 9

The monitoring,evaluating,and disseminating of information from the external and internal environments to key people within the corporation is referred to as

Accepted Answer

A)  environmental scanning. 
B)  external scanning. 
C)  internal scanning. 
D)  strategy formulation. 
E)  strategy implementation. 
A)  environmental scanning. 
B)  external scanning. 
C)  internal scanning. 
D)  strategy formulation. 
E)  strategy implementation.

Question 10

A budget is a statement of a corporation's programs in dollar terms.Which is not true of the budgetary function?

Accepted Answer

A)  It is used in planning and control. 
B)  It serves as a detailed plan of strategy in action. 
C)  Only one budget is necessary to capture all programs. 
D)  It details the impact on the firm's future financial situation. 
E)  It is used as a means of measuring success based on certain criteria. 
A)  It is used in planning and control. 
B)  It serves as a detailed plan of strategy in action. 
C)  Only one budget is necessary to capture all programs. 
D)  It details the impact on the firm's future financial situation. 
E)  It is used as a means of measuring success based on certain criteria.

Question 11

Henry Mintzberg discovered that strategic formulation is a regular,continuous process.

Accepted Answer

A) True 
 B)False

Question 12

To be effective,strategic management must be a formal process.

Accepted Answer

A) True 
 B)False

Question 13

Boston Consulting Group (BCG) found that innovation is a top 3 priority for three-quarters of the companies in the 2014 BCG global innovation survey.

Accepted Answer

A) True 
 B)False

Question 14

What characterizes the planning mode of strategy formulation?

Accepted Answer

A)  Top management believes that the environment is a force to be used and controlled. 
B)  It assumes the environment is too complex to be completely comprehended. 
C)  It involves the systematic gathering of appropriate information for situation analysis, the generation of feasible alternative strategies, and the rational selection of the most appropriate strategy. 
D)  Rather than utilizing a proactive search for new opportunities, it only has the opportunity for reactive behavior. 
E)  It is based on vision and large-picture strategy. 
A)  Top management believes that the environment is a force to be used and controlled. 
B)  It assumes the environment is too complex to be completely comprehended. 
C)  It involves the systematic gathering of appropriate information for situation analysis, the generation of feasible alternative strategies, and the rational selection of the most appropriate strategy. 
D)  Rather than utilizing a proactive search for new opportunities, it only has the opportunity for reactive behavior. 
E)  It is based on vision and large-picture strategy.

Question 15

Members of the European Union (EU) include all of the following EXCEPT

Accepted Answer

A)  Ireland. 
B)  Great Britain. 
C)  Belgium. 
D)  France. 
E)  Slovakia. 
A)  Ireland. 
B)  Great Britain. 
C)  Belgium. 
D)  France. 
E)  Slovakia.

Question 16

Which one of the following is included in the firm's task environment?

Accepted Answer

A)  technological factors 
B)  sociocultural factors 
C)  culture 
D)  stockholders 
E)  political-legal forces 
A)  technological factors 
B)  sociocultural factors 
C)  culture 
D)  stockholders 
E)  political-legal forces

Question 17

Which of the following is an example of a mission statement?

Accepted Answer

A)  diversify product line to appeal to more people 
B)  increase sales by ten percent over last year 
C)  pay highest salaries to keep high quality employees 
D)  develop and sell quality appliances worldwide 
E)  divide a sales region into a group of sales districts 
A)  diversify product line to appeal to more people 
B)  increase sales by ten percent over last year 
C)  pay highest salaries to keep high quality employees 
D)  develop and sell quality appliances worldwide 
E)  divide a sales region into a group of sales districts

Question 18

The triple bottom line refers to which of the following?

Accepted Answer

A)  water, air, and oil 
B)  footprints, finance, and environment 
C)  physical environment, traditional profit/loss, and air 
D)  traditional profit/loss, social responsibility, and environmental responsibility 
E)  social responsibility, people, and ethics 
A)  water, air, and oil 
B)  footprints, finance, and environment 
C)  physical environment, traditional profit/loss, and air 
D)  traditional profit/loss, social responsibility, and environmental responsibility 
E)  social responsibility, people, and ethics

Question 19

Which of the following is an example of an objective?

Accepted Answer

A)  to diversify product line to appeal to more people 
B)  to increase sales by ten percent over last year 
C)  to pay highest salaries to keep high quality employees 
D)  to develop and sell quality appliances worldwide 
E)  to divide a sales region into a group of sales districts 
A)  to diversify product line to appeal to more people 
B)  to increase sales by ten percent over last year 
C)  to pay highest salaries to keep high quality employees 
D)  to develop and sell quality appliances worldwide 
E)  to divide a sales region into a group of sales districts

Question 20

The phenomenon that describes corporations as evolving through relatively long periods of stability punctuated by relatively short bursts of fundamental change (revolutionary change) is known as

Accepted Answer

A)  revolution. 
B)  equilibrium. 
C)  punctuated equilibrium. 
D)  logical incrementalism. 
E)  discontinuity. 
A)  revolution. 
B)  equilibrium. 
C)  punctuated equilibrium. 
D)  logical incrementalism. 
E)  discontinuity.

Which of the following is not one of the four triggering events listed in the text that is the stimulus for a strategic change?

One tenet of the learning organization is to maintain stability.

A difference between basic financial planning and forecast-based planning is

The Strategic Management Model presents the following process for strategy formulation:

According to Henry Mintzberg,the three most typical approaches to strategic decision-making are

Climate change has become a growing concern for businesses to include in their corporate strategies.

A checklist of questions,by area or issue that enables a systematic analysis to be made of various corporate functions and activities is referred to as a(n)

The mode of strategic decision-making typical of most universities,many large hospitals,a large number of governmental agencies,and a surprising number of large corporations is

The monitoring,evaluating,and disseminating of information from the external and internal environments to key people within the corporation is referred to as

A budget is a statement of a corporation's programs in dollar terms.Which is not true of the budgetary function?

Henry Mintzberg discovered that strategic formulation is a regular,continuous process.

To be effective,strategic management must be a formal process.

Boston Consulting Group (BCG) found that innovation is a top 3 priority for three-quarters of the companies in the 2014 BCG global innovation survey.

What characterizes the planning mode of strategy formulation?

Members of the European Union (EU) include all of the following EXCEPT

Which one of the following is included in the firm's task environment?

Which of the following is an example of a mission statement?

The triple bottom line refers to which of the following?

Which of the following is an example of an objective?

The phenomenon that describes corporations as evolving through relatively long periods of stability punctuated by relatively short bursts of fundamental change (revolutionary change) is known as

Corporate Governance

Social Responsibility and Ethics in Strategic Management

Environmental Scanning and Industry Analysis

Organizational Analysis and Competitive Advantage

Strategy Formulation: Business Strategy

Strategy Formulation: Corporate Strategy

Strategy Formulation: Functional Strategy and Strategic Choice

Strategy Implementation: Global Strategy

Strategy Implementation: Organizing and Structure

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters

Exam 1: Basic Concepts in Strategic Management

Which of the following is not one of the four triggering events listed in the text that is the stimulus for a strategic change?

One tenet of the learning organization is to maintain stability.

A difference between basic financial planning and forecast-based planning is

The Strategic Management Model presents the following process for strategy formulation:

According to Henry Mintzberg,the three most typical approaches to strategic decision-making are

Climate change has become a growing concern for businesses to include in their corporate strategies.

A checklist of questions,by area or issue that enables a systematic analysis to be made of various corporate functions and activities is referred to as a(n)

The mode of strategic decision-making typical of most universities,many large hospitals,a large number of governmental agencies,and a surprising number of large corporations is

The monitoring,evaluating,and disseminating of information from the external and internal environments to key people within the corporation is referred to as

A budget is a statement of a corporation's programs in dollar terms.Which is not true of the budgetary function?

Henry Mintzberg discovered that strategic formulation is a regular,continuous process.

To be effective,strategic management must be a formal process.

Boston Consulting Group (BCG) found that innovation is a top 3 priority for three-quarters of the companies in the 2014 BCG global innovation survey.

What characterizes the planning mode of strategy formulation?

Members of the European Union (EU) include all of the following EXCEPT

Which one of the following is included in the firm's task environment?

Which of the following is an example of a mission statement?

The triple bottom line refers to which of the following?

Which of the following is an example of an objective?

The phenomenon that describes corporations as evolving through relatively long periods of stability punctuated by relatively short bursts of fundamental change (revolutionary change) is known as

Corporate Governance

Social Responsibility and Ethics in Strategic Management

Environmental Scanning and Industry Analysis

Organizational Analysis and Competitive Advantage

Strategy Formulation: Business Strategy

Strategy Formulation: Corporate Strategy

Strategy Formulation: Functional Strategy and Strategic Choice

Strategy Implementation: Global Strategy

Strategy Implementation: Organizing and Structure

Strategy Implementation: Staffing and Directing

Evaluation and Control

Suggestions for Case Analysis

Filters