Strategic Management and Business Policy: Globalization, Innovation, and Sustainability, 15th edition — by Thomas Wheelen — Complete Test Bank (Chapter 1-13)

TEST BANK
Strategic Management and Business Policy: Globalization, Innovation,
and Sustainability, 15th edition
By Thomas Wheelen, J Hunger
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, Table of Content
Part I. Introduction to Strategic Management and Business Policy
Basic Concepts of Strategic Management
Corporate Governance
Social Responsibility and Ethics in Strategic Management
Part II. Scanning the Environment
Environmental Scanning and Industry Analysis
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Organizational Analysis and Competitive Advantage
Part III. Strategy Formulation
Strategy Formulation: Business Strategy
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Strategy Formulation: Corporate Strategy
Strategy Formulation: Functional Strategy and Strategic Choice
Part IV. Strategy Implementation and Control
Strategy Implementation: Global Strategy
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Strategy Implementation: Organizing and Structure
Strategy Implementation: Staffing and Directing
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Evaluation and Control
Part V. Introduction to Case Analysis
Suggestions for Case Analysis
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Part VI. Cases in Strategic Management
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Strategic Management and Business Policy, 15e (Wheelen et al.)
Chapter 1 Basic Concepts in Strategic Management

1) The emphasis of strategic management is on
A) long-term performance.
B) first line managers. All Chapters Included
C) the short-run performance of the corporation.
D) an examination of the organization's internal environment.
E) an investigation of competitor actions. All Answers Included
Answer: A
Difficulty: Easy
Learning Obj.: 1.1: Discuss the benefits of strategic management
LU
AACSB: Application of knowledge

2) Research suggests that strategic management evolves through four sequential phases in
corporations. The first phase is
A) externally oriented planning.
B) basic financial planning.
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C) internally oriented planning.
D) forecast-based planning.
E) strategic management.
Answer: B
Difficulty: Easy
Learning Obj.: 1.1: Discuss the benefits of strategic management
LI
AACSB: Application of knowledge

3) The time horizon involved with regard to basic financial planning is usually
A) one year.
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B) one quarter.
C) three to five years.
D) less than one month.
E) five to ten years.
Answer: A
Difficulty: Easy
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Learning Obj.: 1.1: Discuss the benefits of strategic management
AACSB: Application of knowledge

4) A difference between basic financial planning and forecast-based planning is
A) the time horizon is shorter in forecast-based planning.
B) forecast-based planning incorporates environmental data and extrapolates current trends.
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C) basic financial planning utilizes consultants with sophisticated techniques.
D) basic financial planning utilizes scenarios and contingency strategies.
E) basic financial planning relies heavily on input from lower levels in the organization.
Answer: B
Difficulty: Moderate
Learning Obj.: 1.1: Discuss the benefits of strategic management




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5) Top-down planning that emphasizes formal strategy formulation and leaves the
implementation issues to lower management levels is known as
A) forecast-based planning.
B) externally oriented planning.
C) strategic management.
D) basic financial planning.
E) none of the above
Answer: B
Difficulty: Moderate
Learning Obj.: 1.1: Discuss the benefits of strategic management
AACSB: Application of knowledge
LU
6) In the final phase of strategic management, strategic information is available to
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.
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Answer: A
Difficulty: Moderate
Learning Obj.: 1.1: Discuss the benefits of strategic management
AACSB: Application of knowledge

7) In a survey of 50 corporations, which of the following was rated as one of the three top
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benefits of strategic management?
A) clearer sense of strategic vision for the firm
B) higher levels of employee motivation
C) higher levels of job satisfaction
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D) improved productivity
E) lower employee turnover
Answer: A
Difficulty: Moderate
Learning Obj.: 1.1: Discuss the benefits of strategic management
AACSB: Application of knowledge
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8) When an organization is evaluating its strategic position, which is not one of the strategic
questions that an organization generally may ask itself?
A) Where is the organization now?
B) Are we on target to hit our financial objectives next year?
C) If no changes are made, where will the organization be in one year?
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D) If the evaluation is negative, what specific actions should management take?
E) If no changes are made, where will the organization be in 10 years?
Answer: B
Difficulty: Moderate
Learning Obj.: 1.1: Discuss the benefits of strategic management




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