Question 1

Which approach to decision-making is most useful when the environment is changing rapidly and when it is important to build consensus and develop needed resources before committing the entire corporation to a specific strategy?

Accepted Answer

A)   planning mode
B)   entrepreneurial mode
C)   logical incrementalism
D)   adaptive mode
E)   strategic flexibility mode

Question 2

An example of an objective is "increased profitability," while an example of a goal is "to increase the firm's profitability in 2017 by 15 percent over 2016."

Accepted Answer

A) True 
 B)False

Question 3

Research done by Henry Mintzberg suggests that strategy formulation

Accepted Answer

A)   is typically an irregular and a discontinuous process.
B)   should be followed unswervingly to ensure success of the plan.
C)   is a process to which organizations find they must make significant yearly changes.
D)   should be reviewed after a specific interval of time to make sure it is still applicable.
E)   is merely a checklist of actions following a logical process.

Question 4

Globalization is the integrated internationalization of markets and corporations.

Accepted Answer

A) True 
 B)False

Question 5

What is a triggering event? List some possible examples.

Accepted Answer

A triggering event is something that act...

Question 6

One of the benefits of strategic management is a clearer sense of strategic vision for the firm.

Accepted Answer

A) True 
 B)False

Question 7

A strategic decision is rare,consequential,and directive.

Accepted Answer

A) True 
 B)False

Question 8

Strategic planning within a small organization

Accepted Answer

A)   may be informal and irregular.
B)   must be elaborate to allow for future growth.
C)   should always be formalized and explicitly stated.
D)   should be done by the president only.
E)   is unnecessary and a waste of time.

Question 9

Which of the following statements is not true of a strategic inflection point?

Accepted Answer

A)   The term was coined by Andy Grove, past CEO of Intel Corporation.
B)   This represents what happens to a business when a major change takes place due to the introduction of new technology.
C)   This represents what happens to a business when a major change takes place due to a change in customers' values or a change in what customers prefer.
D)   This represents what happens to a business when a major change takes place due to a different regulatory environment.
E)   A new CEO is an example of a strategic inflection point.

Question 10

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

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

According to Alfred Chandler,

Accepted Answer

A)   high-tech industries cannot be defined by "paths of learning" if they want to evolve.
B)   companies spring from an individual entrepreneur's knowledge, which is composed exclusively of technical skills.
C)   once a corporation has built its learning base to the point where it has become a core company in its industry, entrepreneurial start-ups are rarely able to successfully enter.
D)   learned capabilities derive from organizational strengths.
E)   organizational knowledge can seldom be a competitive advantage.

Question 13

The ability of an organization to reshape its environment is described by

Accepted Answer

A)   population ecology theory.
B)   institution theory.
C)   the strategic choice perspective.
D)   organizational learning theory.
E)   organizational citizenship theory.

Question 14

In the final phase of strategic management,strategic information is available to

Accepted Answer

A)   people throughout the organization.
B)   the top management responsible for decision-making.
C)   middle management.
D)   operational personnel.
E)   only those responsible for implementing the strategy.

Question 15

Population ecology is a theory that proposes organizations can and do adapt to change by imitating other successful organizations.

Accepted Answer

A) True 
 B)False

Question 16

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.

Question 17

According to organizational learning theory,an organization uses knowledge to improve the fit between itself and its environment.

Accepted Answer

A) True 
 B)False

Question 18

The development of long-range plans for the effective management of environmental opportunities and threats in light of corporate strengths and weaknesses is known as

Accepted Answer

A)   strategy formulation.
B)   strategy implementation.
C)   strategy control.
D)   strategic analysis.
E)   strategy evaluation.

Question 19

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.

Question 20

A set of sequential steps or techniques that describe in detail how a particular task or job is to be done is referred to as

Accepted Answer

A)   a standard operating procedure.
B)   a systems operating procedure.
C)   a standard operating program.
D)   a standard outside procedure.
E)   a systems operating plan.

Exam 1: Basic Concepts in Strategic Management

A strategic decision is rare,consequential,and directive.

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What is a triggering event? List some possible examples.

Correct AnswerverifiedA triggering event is something that act...View AnswerShow Answer

Population ecology is a theory that proposes organizations can and do adapt to change by imitating other successful organizations.

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Strategic planning within a small organization

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

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Research done by Henry Mintzberg suggests that strategy formulation

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Globalization is the integrated internationalization of markets and corporations.

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Which of the following statements is not true of a strategic inflection point?

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In the final phase of strategic management,strategic information is available to

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According to organizational learning theory,an organization uses knowledge to improve the fit between itself and its environment.

Correct AnswerverifiedShow Answer

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

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According to Alfred Chandler,

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A set of sequential steps or techniques that describe in detail how a particular task or job is to be done is referred to as

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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)

Correct AnswerverifiedShow Answer

The development of long-range plans for the effective management of environmental opportunities and threats in light of corporate strengths and weaknesses is known as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The ability of an organization to reshape its environment is described by

Correct AnswerverifiedShow Answer

Which approach to decision-making is most useful when the environment is changing rapidly and when it is important to build consensus and develop needed resources before committing the entire corporation to a specific strategy?

Correct AnswerverifiedShow Answer

An example of an objective is "increased profitability," while an example of a goal is "to increase the firm's profitability in 2017 by 15 percent over 2016."

Correct AnswerverifiedShow Answer

One of the benefits of strategic management is a clearer sense of strategic vision for the firm.

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A triggering event is something that act...
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