Townsend Exam 1 Questions with Correct Answers Latest Version 2025
Which of the following activities are included in strategy implementation?
A. Establish annual objectives and devise policies.
B. Motivate employees and allocate resources
C. Develop a strategy-supportive culture and create an effective organizational structure.
D. Redirect marketing efforts and prepare budgets.
E. All of the above - Answers E. All of the above
A fundamental strategy evaluation activity includes what?
A. Monitoring employees.
B. measuring performance.
C. Reviewing external and internal factors that are the bases for current strategies.
D. Reviewing external and internal factors that are the bases for current strategies, measuring
performance and taking corrective actions.
E. Taking corrective actions - Answers D. Reviewing external and internal factors that are the bases for
current strategies, measuring performance and taking corrective actions.
Strategic management is based on the idea that organizations should monitor internal and external
trends how often?
A. Annually
B. Periodically
C. Monthly
D. Quarterly
E. Continually - Answers E. Continually
A firm can achieve sustained competitive advantage by doing what?
A. Continually adapting to changes in external trends and events and internal capabilities, competencies
and resources.
B. Effective formulating, implementing, and evaluating strategies that capitalize on changes in trends
and internal capabilities
,C. Monitoring employees continuously
D. All of the above
E. A and B - Answers E. A and B
Who said "perfection is not attainable. but if we chase perfection, we can catch excellence."
A. Chuck Noll Head Coach
B. George S Halas
C. Vince Lombardi
D. Tom Landry
E. President Barack Obama - Answers C. Vince Lombardi, Head Coach Green Bay Packers
Guidelines, rules and procedures established to support implementation efforts are called what?
A. Strengths
B. Policies
C. Objectives
D. Opportunities
E. Strategies - Answers B. Policies
According to Menz and Sheef, when are chief strategy officers (CSOs) most often hired?
A. As top management interdepdence increases
B. When there is an increase in management interdependence and growth in acquisition activity
C. As the business portfolio increases
D. When there is no COO
E.All of the above - Answers B. When there is an increase in management interdependence and growth
in acquisition activity
What is often considered to be the first step in strategic planning?
A. Securing capital to operate
B. Developing a vision statement
C. Devising a mission
, D. Establishing objectives
E. Obtaining shareholders or financial supporters - Answers B. Developing a vision statement
To build for new manufacturing plants in Europe is an example of a(n)
A. threat
B. opportunity
C. strategy
D. strength
E. weakness - Answers C. strategy
Strengths and weaknesses can be determined by elements of being rather than performance. For
example,
A. a strength may involve ownership of natural resources
B. a strength may be historic reputation for quality
C. a weakness may be a current ratio below 1
D. All of the above
E. A & B above - Answers E. A & B above
Recent research by Rose and Cray examined the strategic management process and concluded that
perhaps the most important activity is what?
A. Developing vision and mission statements
B. Deciding upon internal strengths and weaknesses
C. The feedback loop
D. Deciding upon external opportunities and threats
E. Deciding upon long-term and annual objectives - Answers C. The feedback loop
According to the chapter, an important question to answer in developing a strategic plan is:
A. Where are we now?
B. Where are we now? Where do we want to go? How are we going to get there?
C. How are we going to get there?
Which of the following activities are included in strategy implementation?
A. Establish annual objectives and devise policies.
B. Motivate employees and allocate resources
C. Develop a strategy-supportive culture and create an effective organizational structure.
D. Redirect marketing efforts and prepare budgets.
E. All of the above - Answers E. All of the above
A fundamental strategy evaluation activity includes what?
A. Monitoring employees.
B. measuring performance.
C. Reviewing external and internal factors that are the bases for current strategies.
D. Reviewing external and internal factors that are the bases for current strategies, measuring
performance and taking corrective actions.
E. Taking corrective actions - Answers D. Reviewing external and internal factors that are the bases for
current strategies, measuring performance and taking corrective actions.
Strategic management is based on the idea that organizations should monitor internal and external
trends how often?
A. Annually
B. Periodically
C. Monthly
D. Quarterly
E. Continually - Answers E. Continually
A firm can achieve sustained competitive advantage by doing what?
A. Continually adapting to changes in external trends and events and internal capabilities, competencies
and resources.
B. Effective formulating, implementing, and evaluating strategies that capitalize on changes in trends
and internal capabilities
,C. Monitoring employees continuously
D. All of the above
E. A and B - Answers E. A and B
Who said "perfection is not attainable. but if we chase perfection, we can catch excellence."
A. Chuck Noll Head Coach
B. George S Halas
C. Vince Lombardi
D. Tom Landry
E. President Barack Obama - Answers C. Vince Lombardi, Head Coach Green Bay Packers
Guidelines, rules and procedures established to support implementation efforts are called what?
A. Strengths
B. Policies
C. Objectives
D. Opportunities
E. Strategies - Answers B. Policies
According to Menz and Sheef, when are chief strategy officers (CSOs) most often hired?
A. As top management interdepdence increases
B. When there is an increase in management interdependence and growth in acquisition activity
C. As the business portfolio increases
D. When there is no COO
E.All of the above - Answers B. When there is an increase in management interdependence and growth
in acquisition activity
What is often considered to be the first step in strategic planning?
A. Securing capital to operate
B. Developing a vision statement
C. Devising a mission
, D. Establishing objectives
E. Obtaining shareholders or financial supporters - Answers B. Developing a vision statement
To build for new manufacturing plants in Europe is an example of a(n)
A. threat
B. opportunity
C. strategy
D. strength
E. weakness - Answers C. strategy
Strengths and weaknesses can be determined by elements of being rather than performance. For
example,
A. a strength may involve ownership of natural resources
B. a strength may be historic reputation for quality
C. a weakness may be a current ratio below 1
D. All of the above
E. A & B above - Answers E. A & B above
Recent research by Rose and Cray examined the strategic management process and concluded that
perhaps the most important activity is what?
A. Developing vision and mission statements
B. Deciding upon internal strengths and weaknesses
C. The feedback loop
D. Deciding upon external opportunities and threats
E. Deciding upon long-term and annual objectives - Answers C. The feedback loop
According to the chapter, an important question to answer in developing a strategic plan is:
A. Where are we now?
B. Where are we now? Where do we want to go? How are we going to get there?
C. How are we going to get there?
