Question 1. Which of the following is NOT a characteristic of strategic management that makes it different from other types of management?
- It is interdisciplinary.
- It has an external focus.
- It has an internal focus.
- It concerns the present direction of the organization.
Question 2. The basic activities of strategic management include:
- offense, defense, and control.
- situation analysis, strategy formulation, strategy implementation, and strategy evaluation.
- development, control, and management.
- ethics, management, and practice.
Question 3. An organization's strategies should be designed so that they incorporate:
- opportunities and threats.
- resources and capabilities.
- only traditional values of past organizations.
- opportunities, threats, resources, and capabilities.
Question 4. Situation analysis involves the process of:
- 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.
Question 5. Situation analysis allows the organization to examine:
- external factors only.
- internal factors only.
- the organization's top management only.
- both external and internal factors.
Question 6. Which of the following is an issue considered in developing corporate strategies?
- 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?
Question 7. Which of the following is NOT a major element of the strategic management process?
- Formulating strategy
- Implementing strategy
- Evaluating strategy
- Assigning administrative tasks
Question 8. Which of the following statements is NOT true regarding corporate strategies?
- 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.
Question 9. An example of a corporate strategy would involve the decision to:
- 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.
Question 10. As part of its training, most military academies teach the:
- Nine Principles of War.
- Seven Principles of Success.
- Five Keys to Effectiveness.
- Three Principles to Effective Leadership.