Write a capital T for True and capital F for False for the questions below
1. Strategic management’s success requires a commitment to a defined set of objectives by managers.
2. As an organization grows larger, the decision-making process speeds up.
3. Vertical differentiation refers to breaking organizations up into departments.
4. Values, beliefs, and assumptions are often referred to as visible levels of culture.
5. The balanced scorecard says that measurement of a company’s success using purely financial measure is not sufficient.
6. Centralization of decision-making tends to create greater control within an organization, because the few decision makers become very killed at determining the best course of action in a particular situation.
7. Assumptions are so deeply ingrained in individuals that they are considered to be unquestionably true.
8. Organizational structure does not affect employee behavior.
9. Only factors in the external environment determine what actions we must take to make strategic choices for our organization.
10. HRM is a critical component of meeting organizational goals.
11. Influences from outside the organization are easily controlled.
12. Influences from outside the organization may cause the company to adapt to change.
13. Resources or products from suppliers can be affected by external forces, such as natural disasters.
14. The availability of recruits and employees for an organization has an effect on its performance.
15. Unions are not an example of a force from the external environment which can affect businesses.
16. The Board of Directors, voted into office by the shareholders, is involved in the day-to-day operations of the firm.
17. The Board of Directors makes employment decisions, such as hiring and firing top managers.
18. No organization has control over economic growth, inflation, interest rates, or foreign exchange rates.
19. During periods of inflation, businesses experience decreased costs.
20. The economy has a direct impact on the firm’s performance and profits.
21. It is not always necessary to take the economy into account when performing strategic planning activities.
22. Federal and state government create both opportunities and threats for businesses.
23. Competitive strategies and strategic planning principles are a modern, contemporary approach to business management.
24. The vision statement of an organization provides a focus point for the future.
25. Cost leaders may offer their product or service to customers at the same cost as their competitors.
26. Social media cannot be used to monitor both the internal and external environment of an organization.
27. Shareholders are involved in the day-to-day operations of a corporation which they own.