Strategic Management

1. Which of the following is NOT a characteristic of strategic management that makes it different from other types of management? (Points: 5)
It is interdisciplinary.
It has an external focus.
It has an internal focus.
It concerns the present direction of the organization.

2. The basic activities of strategic management include: (Points: 5)
offense, defense, and control.
situation analysis, strategy formulation, strategy implementation, and strategy evaluation.
development, control, and management.
ethics, management, and practice.

3. An organization's strategies should be designed so that they incorporate: (Points: 5)
opportunities and threats.
resources and capabilities.
only traditional values of past organizations.
opportunities, threats, resources, and capabilities.

4. Situation analysis involves the process of: (Points: 5)
designing and choosing appropriate organizational strategies.
analyzing the current environment of the organization.
analyzing the external environment only.
evaluating the internal aspects of the organization.

5. Situation analysis allows the organization to examine: (Points: 5)
external factors only.
internal factors only.
the organization's top management only.
both external and internal factors.

6. Which of the following is an issue considered in developing corporate strategies? (Points: 5)
What business(es) are we in?
What direction are we going?
What resources do we have to implement our strategies?
What businesses are we in and what to do with those businesses?

7. Which of the following is NOT a major element of the strategic management process? (Points: 5)
Formulating strategy
Implementing strategy
Evaluating strategy
Assigning administrative tasks

8. Which of the following statements is NOT true regarding corporate strategies? (Points: 5)
They are concerned with the broad and more long-term issues of the organization.
They are concerned with how the organization is going to compete in a specific business or industry.
They are concerned with the direction the organization is headed.
They are concerned with the business(es) that the organization is in and the businesses they want to be in.

9. An example of a corporate strategy would involve the decision to: (Points: 5)
increase the price of the Hummer.
spin Taco Bell off from Pepsi.
combine marketing functions in the Northeast and the Southeast.
increase the advertising budget for Coca-Cola.

10. As part of its training, most military academies teach the: (Points: 5)
Nine Principles of War.
Seven Principles of Success.
Five Keys to Effectiveness.
Three Principles to Effective Leadership.