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The internal environment includes: ✔✔culture and climate
Which of the following refers to the immediate environment surrounding a firm, including
suppliers, customers, rivals, and new entrants? ✔✔Competitive environment
Pluto Inc. is computer technology corporation that has been manufacturing laptops for the last five
years. Recently, in the face of sinking market share, Pluto reduced its dependency on laptops by
venturing into tablets and smartphones. This is an example of _____. ✔✔diversification
The planning level with the shortest time horizon is known as _____ planning. ✔✔operational
Which of the following is one among the six components of the strategic management process?
✔✔SWOT analysis
The most effective _____ statements inspire organization members, offering a worthwhile target
for the entire organization to work together to achieve. ✔✔vision
A vertical integration strategy is a strategy: ✔✔that involves expanding the domain of the
organization into supply channels or to distributors.
When an enterprising individual pursues a lucrative opportunity, it is known as:
✔✔entrepreneurship
Which of the following is a key difference between an entrepreneur and an intrapreneur? ✔✔An
entrepreneur receives no corporate support, whereas an intrapreneur has the benefit of corporate
support.
, Which of the following is a formal planning step that focuses on an entire venture and describes
all the elements involved in starting it? ✔✔A business plan
Which of the following refers to project teams designated to produce a new product?
✔✔Skunkworks
One of the major tasks performed by the board of directors in a corporation is: ✔✔selecting and
recruiting the CEO.
Karla recently accepted a job with a software developer. She is surprised that her boss frequently
refers to her judgment to resolve problems, despite the fact that she has not worked there long.
Based on Karla's experience, it can be concluded that the firm has: ✔✔decentralized authority.
Research, legal, accounting, and human resources departments are examples of: ✔✔staff
departments.
Organizations have several ways to subdivide their structures. The three basic approaches to
departmentalization are functional, divisional, and _____. ✔✔matrix
In a _____ organization, important decisions usually are made at the top. ✔✔centralized
Which of the following is an advantage of functional departmentalization? ✔✔Decision making
and lines of communication are simple and clearly understood.
Which of the following types of organization is similar to a bureaucratic structure? ✔✔A
mechanistic organization