TESTgBANKgForgStrategicgManagement,g6thgEditiong2024gBygRo
thaermelgFrankgVerifiedg
Thegfocusgofgstrategicgmanagementgisg______.
A.gincreasinggreturngonginvestment
B.gfunctionalgplanning
C.gthegprofitsgofgthegfirm
D.gseparatinggallgthegfunctionalgareasgofgthegbusinessgtogachievegorganizationalgsucc
ess
E.gthegintegrationgofgallgthegfunctionalgareasgofgthegbusinessgtogachievegitsgorganizati
onalgobjectivesg-gANSWER:gE
Theglogicalgstartinggpointgforgstrategicgmanagementgisgtog______.
A.gimplementgthegplan
B.ganalyzegmetrics
C.gperformgagSWOTganalysis
D.gidentifygthegexistinggvision,gmission,gobjectives,gandgstrategies
E.gholdgoff-premisesgretreatsg-gANSWER:gD
Thegstrategicgmanagementgprocessgbeginsgwith______.
A.gstrategygimplementation
B.gstrategicgopportunitygidentification
C.gstrategygformulation
D.gstrategygevaluation
E.gstrategicgplanningg-gANSWER:gC
Ingwhichgstagegofgthegstrategicgmanagementgprocessgisgangorganizationglikelygtogdev
elopgagmissiongstatement?
A.gStrategicgopportunitygidentification
,B.gStrategygevaluation
C.gStrategygimplementation
D.gStrategygformulation
E.gStrategicgplanningg-gANSWER:gD
Analyticalgthinkinggandgintuitivegthinkingg______.
A.garegseldomgusedgtogether
B.garegtypicallygatgoddsgwithgeachgother
C.gcomplementgeachgother
D.gguaranteegstrategicgsuccess
E.garegnotgusedgingstrategicgplanningg-gANSWER:gC
Thegstrategic-managementgprocessgcangbegdescribedgasgan
gobjective,glogical,gsystematicgapproachgforgmakinggmajorgdecisionsgingangorganizatio
n.gHowever,gitgisggenerallygrecognizedgthat
g______gisgessentialgtogmakingggoodgstrategicgdecisions.
A.gignoringgintuition
B.gintuition
C.gignorance
D.gignoringgchange
E.gundisciplinedgintuitiong-gANSWER:gB
Apple'sgfinanciallygleangpositiongwithgregardgtogmanufacturinggfacilitiesgprovidesgthe
gfirmgwithgag_______govergSony,gwhichginvestsgheavilygingmanufacturinggfacilities.
A.gcompetitivegadvantage
B.gstrategicgadvantage
C.gcomparativegadvantage
D.gsustainedgcompetitivegadvantage
,E.gdisadvantageg-gANSWER:gA
Whatgelementgofgstrategicgmanagementganswersgthegquestion
g"Whatgdogwegwantgtogbecome?"
A.gAgmissiongstatement
B.gAgvisiongstatement
C.gSpecificglong-termgobjectives
D.gEnvironmentalgscanning
E.gAgSWOTg-gANSWER:gB
Onegbenefitgofgstrategicgplanninggisgthatgitgallowsgagfirmgtogbe
g_______gingshapinggitsgowngfuture.
A.gproactive
B.gpassive
C.gsuccessful
D.greactive
E.gunconcernedg-gANSWER:gA
Threegprimarygintrinsicgbenefitsgofgstrategicgplanninggincludeg______.
A.glessgneedgforglowerglevelsgofgplanning,glessgneedgfor
gcommunication,gandggreatergcommitment
B.gincreasedgreturngonginvestment,ghighergprofits,gandghighergemployeegsatisfaction
C.glessgneedgforgcommunication,gdeepergunderstanding,gandggreatergcommitment
D.genhancedgcommunication,ggreatergcommitment,gandghighergprofits
E.genhancedgcommunication,gdeepergunderstanding,gandggreatergcommitmentg-
gANSWER:gE
Somegfirmsgviewgplanninggasgagwastegofgtimegbecauseg______.
A.gthegprocessgisgnever-ending
B.gthegreturngonginvestmentgisgtooglow
, C.gnogproductgorgservicegisgproduced
D.gthegprocessgisgtooglong
E.gitgisgnotgprovengnotgbegsuccessfulg-gANSWER:gC
Whichgofgthegfollowinggisgagreasongsomegfirmsgdognotgengagegingstrategicgplanning?
A.gTheygreceivegnogformalgtraininggingstrategicgmanagement.
B.gTheygaregbeinggpunishedgforgnotgplanning.
C.gTheygknowgthegeffortgofgplanninggyieldsgmonetarygrewards.
D.gTheygunderstandgthegbenefitsgofgplanning.
E.gTheygaregwillinggtoginvestgtimegandgeffort.g-gANSWER:gA
Whichgofgthegfollowinggisgagpitfallgofgstrategicgplanning?
A.gInvolvinggkeygemployeesgingallgphasesgofgthegplanning
B.gBeinggsogformalgingplanninggthatgflexibilitygandgcreativitygaregstifled
C.gCommunicatinggthegplangtogemployees
D.gUsinggplansgasgstandardsgforgmeasuringgperformance
E.gObtaininggsupportgofgthegprocessgbygtopgmanagersg-gANSWER:gB
WhichgofgthegfollowinggisgNOTgagpitfallgofgstrategicgplanning?
A.gNotgusinggplansgasgstandardsgforgmeasuringgperformance
B.gViewinggplanninggasgunnecessarygorgunimportant
C.gUsinggstrategicgplanninggtoggaingcontrolgovergdecisionsgandgresources
D.gTopgmanagersgmakinggmanygintuitivegdecisionsgthatgconflictgwithgthegformalgplan
E.gInvolvinggkeygemployeesgingallgphasesgofgplanningg-gANSWER:gE
Historically,gwheregdidgstrategicgplanninggoriginate?
A.gGamegplay
thaermelgFrankgVerifiedg
Thegfocusgofgstrategicgmanagementgisg______.
A.gincreasinggreturngonginvestment
B.gfunctionalgplanning
C.gthegprofitsgofgthegfirm
D.gseparatinggallgthegfunctionalgareasgofgthegbusinessgtogachievegorganizationalgsucc
ess
E.gthegintegrationgofgallgthegfunctionalgareasgofgthegbusinessgtogachievegitsgorganizati
onalgobjectivesg-gANSWER:gE
Theglogicalgstartinggpointgforgstrategicgmanagementgisgtog______.
A.gimplementgthegplan
B.ganalyzegmetrics
C.gperformgagSWOTganalysis
D.gidentifygthegexistinggvision,gmission,gobjectives,gandgstrategies
E.gholdgoff-premisesgretreatsg-gANSWER:gD
Thegstrategicgmanagementgprocessgbeginsgwith______.
A.gstrategygimplementation
B.gstrategicgopportunitygidentification
C.gstrategygformulation
D.gstrategygevaluation
E.gstrategicgplanningg-gANSWER:gC
Ingwhichgstagegofgthegstrategicgmanagementgprocessgisgangorganizationglikelygtogdev
elopgagmissiongstatement?
A.gStrategicgopportunitygidentification
,B.gStrategygevaluation
C.gStrategygimplementation
D.gStrategygformulation
E.gStrategicgplanningg-gANSWER:gD
Analyticalgthinkinggandgintuitivegthinkingg______.
A.garegseldomgusedgtogether
B.garegtypicallygatgoddsgwithgeachgother
C.gcomplementgeachgother
D.gguaranteegstrategicgsuccess
E.garegnotgusedgingstrategicgplanningg-gANSWER:gC
Thegstrategic-managementgprocessgcangbegdescribedgasgan
gobjective,glogical,gsystematicgapproachgforgmakinggmajorgdecisionsgingangorganizatio
n.gHowever,gitgisggenerallygrecognizedgthat
g______gisgessentialgtogmakingggoodgstrategicgdecisions.
A.gignoringgintuition
B.gintuition
C.gignorance
D.gignoringgchange
E.gundisciplinedgintuitiong-gANSWER:gB
Apple'sgfinanciallygleangpositiongwithgregardgtogmanufacturinggfacilitiesgprovidesgthe
gfirmgwithgag_______govergSony,gwhichginvestsgheavilygingmanufacturinggfacilities.
A.gcompetitivegadvantage
B.gstrategicgadvantage
C.gcomparativegadvantage
D.gsustainedgcompetitivegadvantage
,E.gdisadvantageg-gANSWER:gA
Whatgelementgofgstrategicgmanagementganswersgthegquestion
g"Whatgdogwegwantgtogbecome?"
A.gAgmissiongstatement
B.gAgvisiongstatement
C.gSpecificglong-termgobjectives
D.gEnvironmentalgscanning
E.gAgSWOTg-gANSWER:gB
Onegbenefitgofgstrategicgplanninggisgthatgitgallowsgagfirmgtogbe
g_______gingshapinggitsgowngfuture.
A.gproactive
B.gpassive
C.gsuccessful
D.greactive
E.gunconcernedg-gANSWER:gA
Threegprimarygintrinsicgbenefitsgofgstrategicgplanninggincludeg______.
A.glessgneedgforglowerglevelsgofgplanning,glessgneedgfor
gcommunication,gandggreatergcommitment
B.gincreasedgreturngonginvestment,ghighergprofits,gandghighergemployeegsatisfaction
C.glessgneedgforgcommunication,gdeepergunderstanding,gandggreatergcommitment
D.genhancedgcommunication,ggreatergcommitment,gandghighergprofits
E.genhancedgcommunication,gdeepergunderstanding,gandggreatergcommitmentg-
gANSWER:gE
Somegfirmsgviewgplanninggasgagwastegofgtimegbecauseg______.
A.gthegprocessgisgnever-ending
B.gthegreturngonginvestmentgisgtooglow
, C.gnogproductgorgservicegisgproduced
D.gthegprocessgisgtooglong
E.gitgisgnotgprovengnotgbegsuccessfulg-gANSWER:gC
Whichgofgthegfollowinggisgagreasongsomegfirmsgdognotgengagegingstrategicgplanning?
A.gTheygreceivegnogformalgtraininggingstrategicgmanagement.
B.gTheygaregbeinggpunishedgforgnotgplanning.
C.gTheygknowgthegeffortgofgplanninggyieldsgmonetarygrewards.
D.gTheygunderstandgthegbenefitsgofgplanning.
E.gTheygaregwillinggtoginvestgtimegandgeffort.g-gANSWER:gA
Whichgofgthegfollowinggisgagpitfallgofgstrategicgplanning?
A.gInvolvinggkeygemployeesgingallgphasesgofgthegplanning
B.gBeinggsogformalgingplanninggthatgflexibilitygandgcreativitygaregstifled
C.gCommunicatinggthegplangtogemployees
D.gUsinggplansgasgstandardsgforgmeasuringgperformance
E.gObtaininggsupportgofgthegprocessgbygtopgmanagersg-gANSWER:gB
WhichgofgthegfollowinggisgNOTgagpitfallgofgstrategicgplanning?
A.gNotgusinggplansgasgstandardsgforgmeasuringgperformance
B.gViewinggplanninggasgunnecessarygorgunimportant
C.gUsinggstrategicgplanninggtoggaingcontrolgovergdecisionsgandgresources
D.gTopgmanagersgmakinggmanygintuitivegdecisionsgthatgconflictgwithgthegformalgplan
E.gInvolvinggkeygemployeesgingallgphasesgofgplanningg-gANSWER:gE
Historically,gwheregdidgstrategicgplanninggoriginate?
A.gGamegplay
