Professional Documents
Culture Documents
1. A) marketing
1. A) Strategy formulation
2. B) Strategy evaluation
3. C) Strategy implementation
4. D) Strategic management
5. E) Strategic leading
1. A) made it harder for people worldwide to see how others work and
live.
2. B) strengthened national boundaries and made countries more self-
contained.
1. A) small firms.
2. B) nonprofit institutions.
3. C) governmental organizations.
4. D) multinational conglomerates.
2. B) is a semiannual process.
3. C) is a continuous process.
1. A) Formulation
2. B) Implementation
3. C) Evaluation
4. D) Feedback
5. E) Goal-setting
1. A) strategy evaluation
2. B) strategy implementation
3. C) strategy formulation
4. D) strategy leadership
1. A) Strategy formulation
2. B) Strategy evaluation
3. C) Strategy implementation
4. D) Strategic advantage
5. E) Competitive advantage
28) What types of skills are especially critical for successful strategy
implementation?
1. A) Interpersonal
2. B) Marketing
3. C) Technical
4. D) Conceptual
5. E) Visionary
1. A) Strategy formulation
2. B) Strategy implementation
3. C) Strategy evaluation
4. D) Competing advantages
5. E) Measuring performance
3. C) Devising policies
4. D) Allocating resources
5. E) Motivating employees
1. A) Reduction
2. B) Formulation
3. C) Implementation
4. D) Evaluation
5. E) Policy
1. A) Formulation
2. B) Control
3. C) Evaluation
4. D) Implementation
5. E) Management
42) Which statement best describes intuition?
5. E) It is management by ignorance.
49) Which individuals are most responsible for the success and failure of
an organization?
1. A) Strategists
2. B) Financial planners
3. C) Personnel directors
4. D) Stakeholders
50) What are enduring statements of purpose that distinguish one business
from other similar firms?
1. A) Policies
2. B) Mission statements
3. C) Objectives
4. D) Rules
1. A) strategies.
2. B) rules.
3. C) objectives.
4. D) policies.
5. E) tenets.
1. A) opportunities
2. B) incompetencies
3. C) strengths
4. D) objectives
5. E) factors
55) What are the means by which long-term objectives will be achieved?
1. A) Strategies
2. B) Strengths
3. C) Weaknesses
4. D) Policies
5. E) Opportunities
1. A) measurable.
2. B) continually changing.
3. C) reasonable.
4. D) challenging.
5. E) consistent.
57) What are guides to decision making that address repetitive or recurring
situations called?
1. A) Strategies
2. B) Rules
3. C) Policies
4. D) Objectives
5. E) Goals
1. A) authoritarianism.
2. B) proaction.
3. C) empowerment.
4. D) transformation.
3. C) Making a profit
4. D) Implement strategies
1. A) be proactive
2. B) be immune to threats
5. E) be reactive
1. A) exactly 100
2. B) less than 1,000
3. C) about 10,000
5. E) almost 10 million
1. A) more profitable
2. B) more complex
3. C) less profitable
4. D) less successful
5. E) less complex
1. A) increased discipline.
2. B) enhanced communication.
3. C) increased synergy.
84) Anything that a firm does especially well compared to rival firms is
referred to as
1. A) competitive advantage.
2. B) comparative disadvantage.
3. C) opportunity cost.
4. D) unsustainable advantage.
5. E) an external opportunity.
85) In mass retailing, big-box companies like Walmart, Best Buy, and Sears
are
86) The fact that Apple has no manufacturing facilities of its own
4. D) illustrates that having more fixed assets than rival firms can
provide major competitive advantages in a global recession.
1. A) businesses; individuals
2. B) governments; businesses
3. C) individuals; businesses
4. D) businesses; governments
5. E) individuals; governments