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Question;1) In a survey of 50 corporations, which of the following was rated as a;benefit of strategic management?;A. Clearer sense of vision for the firm;B. Higher levels of employee motivation;C. Higher levels of job satisfaction;D. Improved productivity;E. Lower employee turnover;2) Research suggests that strategic management evolves through four;sequential phases in corporations. The first phase is;A. externally-oriented planning;B. basic financial planning;C. internally-oriented planning;D. forecast-based planning;E. strategic management;3) Strategic management is that set of managerial decisions and actions that;determine the long-run performance of a corporation. Which one of the following;is NOT one of the basic elements of the strategic management process?;A. Strategy formulation;B. Strategy implementation;C. Statistical process control;D. Evaluation and control;E. Environmental scanning;4) The relationship among the board of directors, top management, and;shareholders is referred to as;A. corporate synergy;B. corporate management;C. corporate governance;D. corporate strategy;E. corporate responsibility;5) The concept that proposes private corporations have responsibilities to;society that extend beyond making a profit is known as;A. flexible responsibility;B. social responsibility;C. social flexibility;D. managerial responsibility;E. profit maximization;6) Who said that the social responsibility of business is a;fundamentally subversive doctrine" and that the one social;responsibility of business is "to use its resources and engage in;activities designed to increase its profits so long as it stays with the rules;of the game..."?;A. Adam Smith;B. Edward Freeman;C. Archie Carroll;D. William C. Norris;E. Milton Friedman;7) Which of the following is NOT descriptive of external environmental;scanning?;A. Used as a tool to ensure a corporation's long-term health;B. Used to monitor, evaluate, and disseminate information from the external;environment to key people within the corporation;C. Used to identify opportunities and threats;D. It is a tool that corporations use to avoid strategic surprise;E. Used to identify strengths and weaknesses;8) According to Porter, the corporation is most concerned with;A. the intensity of competition within its industry;B. the aggregate level of demand for a product line;C. a market's position on its life cycle;D. the amount of pressure from the societal environment;E. the level of government action in an industry;9) When a company determines a competency's competitive advantage, Barney;refers to this issue as;A. value;B. rareness;C. imitability;D. organization;E. durability;10) An acronym for the assessment of the external and internal environments;of the business corporation in the process of strategy formulation/strategic;planning is;A. P.E.T.;B. M.B.O.;C. S.W.O.T.;D. S.B.U.;E. R.O.I.;11) In the development of a SFAS matrix, the first step is to;A. enter the ratings of how the company's management is responding to each;of the strategic factors;B. calculate the weighted scores;C. list the most important EFAS and IFAS items;D. indicate short-term for the duration;E. enter the weights for all of the internal factors;12) The technique that illustrates how management can match the external;opportunities and threats with its strengths and weaknesses to yield four sets;of strategic alternatives is called a (an);A. IFAS Table;B. EFAS Table;C. SFAS Table;D. TOWS Matrix;E. Issues Priority Matrix;13) Which strategy specifies the firm's overall direction in terms of its;general orientation toward growth, the industries or markets in which it;competes, and the manner in which it coordinates activities and transfers;resources among business units?;A. Corporate;B. Functional;C. Divisional;D. Organizational;E. Business;14) Continuous improvement is an operations concept developed in;A. the United States;B. Sweden;C. Japan;D. Germany;E. Canada;15) The process by which a firm approaches its cross-border activities and;those of competitors, and plans to approach them in the future, is called;A. staging;B. international strategy;C. competitive strategy;D. cross-border configuration;16) What question must managers ask concerning the relationship between;economic logic and international strategy?;A. Which geographic areas will we enter?;B. How does our international strategy contribute to the economic logic of our;business and corporate strategies?;C. How does being international make our products more attractive to our;customers?;D. Which international market-entry strategies will we use?;17) Which strategy is developed to pull together the various activities and;competencies of each department so that corporate and business unit performance;improves and resource productivity is maximized?;A. Business strategy;B. Competitive strategy;C. Generic strategy;D. Enterprise strategy;E. Functional strategy;18) The strategy that deals with product and process innovation and;improvement is known as a ________ strategy.;A. Marketing;B. R&D;C. operations;D. financial;E. human resource management;19) The hiring of new people with new skills, firing of people with inappropriate;or substandard skills, and/or training existing employees to learn new skills;are included the process of;A. training;B. staffing;C. structuring;D. operating;E. financing;20) The strategy implementation tool used to determine what actions are going;to be taken, by whom, during what time frame, and with what expected results is;called a(n);A. mission statement;B. action plan;C. MBO;D. TQM;E. succession plan;21) Executives with a particular mix of skills and experiences may be;classified as an executive type and paired with;A. a specific personal characteristic;B. a specific corporate strategy;C. a certain educational background;D. a specific experience background;E. a specific industry;22) According to the text, what is the "key" to effective management;of change in culture?;A. Planning;B. Operationalization;C. Evaluation;D. Staffing;E. Communication;23) The sum total of the activities and choices required for the execution;of a strategic plan is known as in;A. strategic formulation;B. environmental scanning;C. strategy implementation;D. evaluation and control;E. strategic development;24) Who typically implements strategy in large, multi-industry corporations?;A. The board of directors;B. Top management;C. Middle management;D. First level management;E. Everyone in the organization;25) Which one of the following is NOT a part of the evaluation and control;of performance?;A. Establish corporate strategies.;B. Determine what to measure.;C. Establish standards for performance.;D. Measure actual performance.;E. Take corrective actions.;26) The end result of activity is known as;A. measurement;B. gratuity;C. performance;D. return on equity;E. achievement;27) Which is the MOST commonly used measure of corporate performance (in;terms of profit)?;A. EPS;B. ROE;C. DPS;D. ROI;E. ROVA;28) Because of the belief that accounting-based numbers such as ROI, ROE;and EPS are not reliable indicators of a corporation's economic value, which;method of corporate performance is now preferred?;A. Shareholder value;B. Basic earning power;C. Price/earnings ratio;D. Profit margin on sales;E. Return on assets;29) Which company experienced a tarnished reputation and scandal after;experiencing behavior substitution when employees altered their behavior on the;job to fit the reward system?;A. Sears, Roebuck, & Co.;B. J.C. Penney;C. Neiman Marcus;D. Saks;E. Macy's;30) Suboptimization occurs when;A. a division or functional unit views itself as a separate entity and;refuses to cooperate with other divisions or units to the detriment of the;organization as a whole;B. there is a failure to produce at or near full capacity;C. individuals are placed into positions not suited to their abilities;D. managers tend to focus more of their attentions on those aspects which are;measurable than on those which are not;E. managers concentrate too much on short-term performance objectives


Paper#45599 | Written in 18-Jul-2015

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