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Multiple Choice: Strategic Management

Which of the following is NOT a key question that can reveal internal strengths and weaknesses of the marketing department?

Does the firm have an effective sales organization?
Is our product quality good?
Are markets segmented effectively?
Are the firms products and services priced appropriately?
Does the firm have good liquidity?

All of the following are key questions that can reveal internal strengths and weaknesses in the management department EXCEPT:

Are reward and control mechanisms effective?î
Are the organizations products positioned well among competing products?î
Does the firm use strategic management concepts?î
Do managers delegate authority well?î

__________ is NOT part of an external audit.

Analyzing competitors
Analyzing financial ratios
Analyzing available technologies
Studying the political environment
Analyzing social, cultural, demographic, and geographic forces

One difference between CPM and EFE is that:

CPM includes both internal and external issues.
the weight and total weighted score mean opposite.
CPM ratings range from 1 to 10.
CPM is performed only for the company, whereas EFE is performed for both the company and the competitors.
CPM is only used in small firms.

A pattern of behavior developed by an organization as it learns to cope with its problems of external adaptation and internal integration that has worked well enough to be considered valid and to be taught to new members as the correct way to perceive, think, and feel is called:

dysfunctional behavior.
behavior modification.
organizational culture.
internal audit effect.

The Robinson-Patman Act affects companies:

pricing methods.
trucking methods.
cost of products.
employee costs.

In general, what happens to American goods in overseas markets when there is a strong dollar?

less expensive
more attractive
more expensive

If suppliers are unreliable or too costly, which of the following strategies may be appropriate?

horizontal integration
backward integration
market penetration
forward integration
concentric diversification

Which of the following changes has NOT had a major impact on products, services, markets, and customers?


What category of ratios measures how effectively a firm can maintain its economic position in the growth of the economy and industry?



Solution Summary

The answer document includes the correct answers. The correct answers have been clearly highlighted.