Page | 1
SMGT 2256- CHAPTER 2 2026
LATEST QUESTIONS AND
ANSWERS| ACE YOUR GRADES.
The faster a company's business environment is changing -
correct answer -the more critical it becomes for its managers to
be good entrepreneurs in diagnosing the direction and force of
changes underway and in responding with timely adjustments in
strategy.
Strategy makers - correct answer -have to pay attention to early
warnings of future change and be willing to experiment with date-
to-be-different ways to establish a market position in that future
Good strategy making - correct answer -is therefore inseparable
from good business entrepreneurship. One cannot exist without
the other
Lead strategy-making roles and responsibilities - correct answer
-senior executives
, Page | 2
The captain of the ship, carries the mantles of the chief direction
setter, chief objective setter, chief strategy maker, and chief
strategy implementer for the total enterprise. - correct answer -
CEO
Ultimate responsibility for leading strategy-making, strategy-
executing process rests with the - correct answer -CEO
Corporate Strategy - correct answer -establishes an overall
game plan for managing a set of businesses in a diversified,
multi-business company
Business Strategy - correct answer -is primarily concerned with
strengthening the company's market position and building
competitive advantage in a single business company or a single
business unit of a diversified multibusiness corporation.
Functional-area strategies - correct answer -concern the
approaches employed in managing particular functions within a
business-like research and development (R&D), production,
procurement of inputs, sales and marketing, distribution, customer
service, and finance.
SMGT 2256- CHAPTER 2 2026
LATEST QUESTIONS AND
ANSWERS| ACE YOUR GRADES.
The faster a company's business environment is changing -
correct answer -the more critical it becomes for its managers to
be good entrepreneurs in diagnosing the direction and force of
changes underway and in responding with timely adjustments in
strategy.
Strategy makers - correct answer -have to pay attention to early
warnings of future change and be willing to experiment with date-
to-be-different ways to establish a market position in that future
Good strategy making - correct answer -is therefore inseparable
from good business entrepreneurship. One cannot exist without
the other
Lead strategy-making roles and responsibilities - correct answer
-senior executives
, Page | 2
The captain of the ship, carries the mantles of the chief direction
setter, chief objective setter, chief strategy maker, and chief
strategy implementer for the total enterprise. - correct answer -
CEO
Ultimate responsibility for leading strategy-making, strategy-
executing process rests with the - correct answer -CEO
Corporate Strategy - correct answer -establishes an overall
game plan for managing a set of businesses in a diversified,
multi-business company
Business Strategy - correct answer -is primarily concerned with
strengthening the company's market position and building
competitive advantage in a single business company or a single
business unit of a diversified multibusiness corporation.
Functional-area strategies - correct answer -concern the
approaches employed in managing particular functions within a
business-like research and development (R&D), production,
procurement of inputs, sales and marketing, distribution, customer
service, and finance.
