MGMT 490 EXAM 1 QUESTIONS AND VERIFIED
ANSWERS
CHPT 1
According to the resource-based view of the firm:
1. Organizational resources include physical resources such term-19as plants
2. The characteristics of resources firms possess influences their financial performance
3. Organizational resources include knowledge
4. Organizational resources include organizational culture
5. All of These - Answers - All of These
Strategic management includes the following:
1. Establishment of strategic direction
2. Implementation of strategies
3. Analysis of the internal environment
4. Strategic restructuring
5. All of these - Answers - All of these
Opportunities:
1. Allow a firm to take advantage of organizational strengths, overcome weaknesses, or
neutralize threats
2. Are the same for all firms in an industry
3. Are related only to new customers and new markets
4. Are a firm's resources and capabilities
5. None of these - Answers - Allow a firm to take advantage of organizational strengths,
overcome weaknesses, or neutralize threats
, Strategy formulation involves which of the following?
1. Corporate-level, business-level, and division-level strategy formulation
2. Functional-level, employee-level, and customer-level strategy formulation
3. Corporate-level, business-level, and functional-level strategy formulation
4. Domain navigation, market orientation, and customer definition strategy formulation
5. Domain navigation, functional-level formulation, and corporate-level formulation -
Answers - Corporate-level, business-level, and functional-level strategy formulation
Corporate-level decisions are typically made by:
1. Low-level employees
2. The CEO and/or board of directors
3. Functional managers
4. Department heads
5. Stockholders - Answers - The CEO and/or board of directors
Enactment is the process of influencing the environment through strategic actions
T/F - Answers - True
Environmental determinism is the view that good management is associated with
determining which strategy will best fit the environment and then carrying it out -
Answers - True
Strategic management includes a process by which organizations analyze and learn
from their internal and external environments - Answers - True
CHPT 2 - Answers -
An organization can typically have:
1. Little influence over events in its task environment
2. Little influence over major occurrences and patterns in the broad environment
3. Significant influence over major occurrences and patterns in the remote environment
4. Significant influence over major social trends
ANSWERS
CHPT 1
According to the resource-based view of the firm:
1. Organizational resources include physical resources such term-19as plants
2. The characteristics of resources firms possess influences their financial performance
3. Organizational resources include knowledge
4. Organizational resources include organizational culture
5. All of These - Answers - All of These
Strategic management includes the following:
1. Establishment of strategic direction
2. Implementation of strategies
3. Analysis of the internal environment
4. Strategic restructuring
5. All of these - Answers - All of these
Opportunities:
1. Allow a firm to take advantage of organizational strengths, overcome weaknesses, or
neutralize threats
2. Are the same for all firms in an industry
3. Are related only to new customers and new markets
4. Are a firm's resources and capabilities
5. None of these - Answers - Allow a firm to take advantage of organizational strengths,
overcome weaknesses, or neutralize threats
, Strategy formulation involves which of the following?
1. Corporate-level, business-level, and division-level strategy formulation
2. Functional-level, employee-level, and customer-level strategy formulation
3. Corporate-level, business-level, and functional-level strategy formulation
4. Domain navigation, market orientation, and customer definition strategy formulation
5. Domain navigation, functional-level formulation, and corporate-level formulation -
Answers - Corporate-level, business-level, and functional-level strategy formulation
Corporate-level decisions are typically made by:
1. Low-level employees
2. The CEO and/or board of directors
3. Functional managers
4. Department heads
5. Stockholders - Answers - The CEO and/or board of directors
Enactment is the process of influencing the environment through strategic actions
T/F - Answers - True
Environmental determinism is the view that good management is associated with
determining which strategy will best fit the environment and then carrying it out -
Answers - True
Strategic management includes a process by which organizations analyze and learn
from their internal and external environments - Answers - True
CHPT 2 - Answers -
An organization can typically have:
1. Little influence over events in its task environment
2. Little influence over major occurrences and patterns in the broad environment
3. Significant influence over major occurrences and patterns in the remote environment
4. Significant influence over major social trends
