MCQs in Strategic Management Course for Practice 1. Which of these is not a reas
ID: 376379 • Letter: M
Question
MCQs in Strategic Management Course for Practice 1. Which of these is not a reason why some firms do no strategic a. Laziness b. Competitive leadership c. Honest difference of opinio n d. Poor reward structures 2. Developing a vision and mission, identifying an organization's external opportunites and threats, and activities determining internal strengths and weaknesses are all a. strategy-formulation b. strategy-implementation c. long-range planning d short-range planning 3. The means by which long-term objectives will be achieved are a. mission statements b. strategies. c. vision statements. d. long-term goals 4. The answers the question What do we want to become? whereasanswers the question What is our business?" a. vision statement; mission statement b. short-term objectives: long-term objectives c. objectives strategies d. mission; vision What is the recommended length of an effective mission statement? a One page b. Less than 200 words c. One sentence of 10 to 20 words. d. There is no recommendation. It can be as long as the management wants. 5. 6. The three stages of strategic management are a. strategy formulation, strategy implementation, and strategy execution. b. strategy formulation, strategy execution, and strategy assessment. c. strategy formulation, strategy implementation, and strategy evaluation. d. stratify assessment, strategy execution, and strategy evaluation. Job titles that refer to strategists include which of the following? a. External audit b. Owner, entrepreneur, executive director, and accountant c. Chief executive officer, salesman, dean, and lawyer d. Owner, dean, president, and executive director 7. Relative deficiency or superiority is important information in performing which activity? a. External audit b. Allocating resources c. Internal audit d. Evaluating strategies 8. How often should strategic-management activities be performed? a. Annually b. Quarterly c. Monthly d. Continuously 9. Who is most responsible for developing. communicating, and enforcing the code of business ethics for a firm? 10. a. Strategists b. Line managers c. Staff managers d. All managers In a large organization, strategic management activities occur at what level(s)? a. Corporate and divisional only b. Divisional c. Strategic business unit only d. Functional, divisional, and corporate 11. 12. Conducting research, integrating intuition with analysis, and making decisions are all activities a. strategy-formulation b. strategy-Implementation c. long-range planning d. short-range planningExplanation / Answer
1) Competitive Leadership is not a reason why some firms do no strategic planning
2) Developing a vision and mission, identifying an organization's external opportunities and threats, and determining internal strengths and weaknesses are all strategy formulation activities.
3) The means by which long-term objectives will be achieved are strategies
4) The vision statement answers the question "What do we want to become?" whereas mission statement answers the question "What is our business?"
5) What is the recommended length of an effective mission statement ? There is no recommendation, it can be as long as the management wants
6)The three stages of strategic management are strategy formulation, strategy implementation, and strategy evaluation.
7) Job titles that refer to strategists include Owner, dean, president, and executive director
8) Relative deficiency or superiority is important information in performing internal audit
9) Strategic-management activities should be performed continuously.
10) Strategists are most responsible for developing, communicating, and enforcing the code of business ethics for a firm
11) In a large organization, strategic management activities occur at functional, divisional, and corporate
12) Conducting research, integrating intuition with analysis, and making decisions are all strategy formulation
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.