MAN 3025 EXAM 2 FGCU EXAM SCRIPT
2026 COMPLETE QUESTIONS AND
CORRECT ANSWERS GRADED A+
●● Strategic Management.
Answer: a process that involves managers from all parts of the
organization in the formulation and the implementation of strategies and
strategic goals
●● Strategic Analysis.
Answer: the process of analyzing the organization, the environment, and
the organization's competitive position and current strategies
●● strategy formulation.
Answer: the process of choosing among different strategies and altering
them to best fit the organization's needs
●● the five steps of the strategic-management process.
Answer:
●● Mission Statement.
Answer: a statement of the organization's purpose - what it wants to
accomplish in the larger environment
,●● Vision Statement.
Answer: expresses what the organization should become, where it wants
to go strategically
●● competitive intelligence.
Answer: gaining information about one's competitors' activities so that
you can anticipate their moves and react appropriately
●● SWOT analysis.
Answer: strengths, weaknesses, opportunities, threats
●● Forecasting.
Answer: the attempts to determine the supply of and demand for various
types of human resources to predict areas within the organization where
there will be labor shortages or surpluses
●● trend analysis.
Answer: constructing and applying statistical models that predict labor
demand for the next year, given relatively objective statistics from the
previous year
●● Benchmarking.
, Answer: a process by which a company compares its performance with
that of high-performing organizations
●● Porter's Five Forces.
Answer: threat of entry, threat of substitute, supplier power, buyer
power, and competitive rivalry
●● Three Common Grand Strategies.
Answer: 1. growth strategy
2. stability strategy
3. defensive strategy
●● Porter's Four Competitive Strategies.
Answer: 1. cost-leadership
2. differentiation
3. cost-focus
4. focused-differentiation
●● single-product strategy.
Answer: a company makes and sells only one product within its market
●● diversification strategy.
2026 COMPLETE QUESTIONS AND
CORRECT ANSWERS GRADED A+
●● Strategic Management.
Answer: a process that involves managers from all parts of the
organization in the formulation and the implementation of strategies and
strategic goals
●● Strategic Analysis.
Answer: the process of analyzing the organization, the environment, and
the organization's competitive position and current strategies
●● strategy formulation.
Answer: the process of choosing among different strategies and altering
them to best fit the organization's needs
●● the five steps of the strategic-management process.
Answer:
●● Mission Statement.
Answer: a statement of the organization's purpose - what it wants to
accomplish in the larger environment
,●● Vision Statement.
Answer: expresses what the organization should become, where it wants
to go strategically
●● competitive intelligence.
Answer: gaining information about one's competitors' activities so that
you can anticipate their moves and react appropriately
●● SWOT analysis.
Answer: strengths, weaknesses, opportunities, threats
●● Forecasting.
Answer: the attempts to determine the supply of and demand for various
types of human resources to predict areas within the organization where
there will be labor shortages or surpluses
●● trend analysis.
Answer: constructing and applying statistical models that predict labor
demand for the next year, given relatively objective statistics from the
previous year
●● Benchmarking.
, Answer: a process by which a company compares its performance with
that of high-performing organizations
●● Porter's Five Forces.
Answer: threat of entry, threat of substitute, supplier power, buyer
power, and competitive rivalry
●● Three Common Grand Strategies.
Answer: 1. growth strategy
2. stability strategy
3. defensive strategy
●● Porter's Four Competitive Strategies.
Answer: 1. cost-leadership
2. differentiation
3. cost-focus
4. focused-differentiation
●● single-product strategy.
Answer: a company makes and sells only one product within its market
●● diversification strategy.
