Test Bank For Essentials of Strategic Management The Quest for Competitive Advantage, 8th Edition All Chapters - 9781264124336

1N
CopyrightN©N2019NMcGraw-HillN
EssentialsNofNStrategicNManagement,N6eN(Gamble)N
ChapterN2NNNStrategyNFormulation,NExecution,NandNGovernanceN
1)NWhichNoneNofNtheNfollowingNisNnotNoneNofNtheNfiveNstagesNofNanNongoing,NcontinuousNstrat
egicN
managementNprocess?N
A)NDevelopingNaNstrategicNvisionNofNwhatNtheNcompany'sNfutureNdirectionNandNfocusNneedsNt
oNbeN
B)NDevelopingNaNsustainableNbusinessNmodelN
C)NCraftingNaNstrategyNtoNadvanceNtheNcompanyNalongNtheNpathNthatNmanagementNhasNchart
edNandN
achieveNitsNperformanceNobjectivesN
D)NSettingNobjectivesNtoNmeasureNprogressNtowardNachievingNtheNstrategicNvisionN
E)NExecutingNtheNchosenNstrategyNefficientlyNandNeffectivelyN
2)NWhichNofNtheNfollowingNisNanNintegralNpartNofNtheNmanagerialNprocessNofNcraftingNandNexe
cutingN
strategy?N
A)NDevelopingNaNprovenNbusinessNmodelN
B)NSettingNobjectivesNandNusingNthemNasNyardsticksNforNmeasuringNtheNcompany'sNperforma
nceNandN
progressN
C)NDecidingNhowNmuchNofNtheNcompany'sNresourcesNtoNemployNinNtheNpursuitNofNsustainabl
eN
competitiveNadvantageN
D)NCommunicatingNtheNcompany'sNmissionNandNpurposeNtoNallNemployeesN
E)NDecidingNonNtheNcompositionNofNtheNcompany'sNboardNofNdirectorsN
3)NWhichNofNtheNfollowingNareNintegralNpartsNofNtheNmanagerialNprocessNofNcraftingNandNexe
cutingN
strategy?N
A)NDecidingNonNtheNcompany'sNstrategicNintent,NsettingNfinancialNobjectives,NcraftingNaNstrat
egy,N
andNchoosingNwhatNbusinessNapproachesNandNoperatingNpracticesNtoNemployN
B)NDevelopingNaNprovenNbusinessNmodel,NdecidingNonNtheNcompany'sNstrategicNintent,NandNc
raftingN
aNstrategyN
C)NSettingNobjectives,NcraftingNaNstrategy,NimplementingNandNexecutingNtheNchosenNstrategy,
NandN

decidingNhowNmuchNofNtheNcompany'sNresourcesNtoNemployNinNtheNpursuitNofNaNsustainableN
competitiveNadvantageN
D)NComingNupNwithNaNstatementNofNtheNcompany'sNmissionNandNpurpose,NsettingNobjectives,
N

choosingNwhatNbusinessNapproachesNtoNemploy,NselectingNaNbusinessNmodel,NandNmonitorin
gN

,developmentsN
E)NDevelopingNaNstrategicNvision,NsettingNobjectives,NcraftingNaNstrategy,NandNinitiatingNcorre
ctiveN
adjustmentsN
4)NWhenNcompaniesNadoptNtheNstrategyNformulation,NstrategyNexecutionNprocess,NtheNfirstNs
tepNisNtoN
A)NmonitorNinternalNandNexternalNdevelopmentsNandNinitiateNcorrectiveNadjustmentsNtoNtheN
businessN
modelNwhenNnecessary.N
B)NadoptNaNprovenNbusinessNmodel,NdecideNonNtheNcompany'sNtopNmanagementNteam,NandNc
raftNaN
strategy.N
C)NexecuteNtheNcompany'sNchosenNstrategyNefficientlyNandNeffectively.N
D)NsetNobjectivesNandNdevelopNaNprofitableNbusinessNmodelNtoNmeetNthoseNobjectives.N
E)NdevelopNaNstrategicNvision,Nmission,NandNvalues.N
DOWNLOADNTHENTestNBankNforNEssentialsNofNStrategicNManagementN6th
NNNNNNNNNNNNNNNNNNNNNNNNNEditionNGamble

mynursytest.store
2N
CopyrightN©N2019NMcGraw-HillN
5)NTheNstrategicNmanagementNprocessNisNshapedNbyN
A)Nmanagement'sNstrategicNvision,NstrategicNandNfinancialNobjectives,NandNstrategy.N
B)NtheNdecisionsNmadeNbyNtheNcompensationNandNauditNcommitteesNofNtheNboardNofNdirecto
rs.N
C)NexternalNfactorsNsuchNasNtheNindustry'sNeconomicNandNcompetitiveNconditionsNandNintern
alN
factorsNsuchNasNtheNcompany'sNcollectionNofNresourcesNandNcapabilities.N
D)NaNcompany'sNcustomerNvalueNpropositionNandNprofitNformula.N
E)NactionsNtoNstrengthenNcompetitiveNcapabilitiesNandNcorrectNweaknesses,NactionsNtoNstren
gthenN
marketNstandingNandNcompetitivenessNbyNacquiringNorNmergingNwithNotherNcompanies,Nand
NactionsN

toNenterNnewNgeographicNorNproductNmarkets.N
6)NWhichNofNtheNfollowingNquestionsNisNnotNpertinentNtoNcompanyNmanagersNinNthinkingN
strategicallyNaboutNwhatNdirectionalNpathNshouldNbeNtakenNbyNtheNcompanyNandNaboutNdeve
lopingNaN
strategicNvision?N
A)NWhatNbusinessNapproachesNandNoperatingNpracticesNshouldNweNconsiderNinNtryingNtoNim
plementN
andNexecuteNourNbusinessNmodel?N
B)NIsNtheNoutlookNforNtheNcompanyNpromisingNifNitNcontinuesNwithNitsNpresentNproductNoffer
ings?N
C)NWhatNstrategicNcourseNoffersNattractiveNopportunityNforNgrowthNandNprofitability?N

,D)NWhat,NifNany,NnewNcustomerNgroupsNand/orNgeographicNmarketsNshouldNtheNcompanyNge
tNinN
positionNtoNserve?N
E)NAreNchangingNmarketNandNcompetitiveNconditionsNactingNtoNenhanceNorNweakenNtheNcom
pany'sN
prospects?N
7)NTheNstrategicNmanagementNprocessNisNshapedNbyN
A)Nmanagement'sNstrategicNvision,NstrategicNandNfinancialNobjectives,NandNstrategy.N
B)NtheNdecisionsNmadeNbyNtheNcompensationNandNauditNcommitteesNofNtheNboardNofNdirecto
rs.N
C)NexternalNfactorsNsuchNasNtheNindustry'sNeconomicNandNcompetitiveNconditionsNandNintern
alN
factorsNsuchNasNtheNcompany'sNcollectionNofNresourcesNandNcapabilities.N
D)NaNcompany'sNcustomerNvalueNpropositionNandNprofitNformula.N
E)NactionsNtoNstrengthenNcompetitiveNcapabilitiesNandNcorrectNweaknesses,NactionsNtoNstren
gthenN
marketNstandingNandNcompetitivenessNbyNacquiringNorNmergingNwithNotherNcompanies,Nand
NactionsN

toNenterNnewNgeographicNorNproductNmarkets.N
8)NWhenNaNcompanyNisNconfrontedNwithNsignificantNindustryNchangeNthatNmandatesNradicalN
revisionN
ofNitsNstrategicNcourse,NtheNcompanyNisNsaidNtoNhaveNencounteredNa(n)N
A)NlearningNandNgrowthNperspective.N
B)NstrategicNinflectionNpoint.N
C)NstrategicNroadblock.N
D)NnewNstrategicNopportunity.N
E)NopportunityNforNcorporateNentrepreneurship.N
9)NANcompany'sNstrategicNplanNconsistsNofN
A)NitsNbalancedNscorecardNandNitsNbusinessNmodel.N
B)NaNvisionNofNwhereNitNisNheaded,NaNsetNofNperformanceNtargets,NandNaNstrategyNtoNachieveNt
hem.N
C)NitsNstrategyNandNmanagement'sNspecific,NdetailedNplansNforNimplementingNit.N
D)NaNcompany'sNplansNforNimprovingNvalue-creatingNinternalNprocesses.N
E)NaNstrategicNvision,NaNstrategy,NandNaNbusinessNmodel.N
DOWNLOADNTHENTestNBankNforNEssentialsNofNStrategicNManagementN6th
NNNNNNNNNNNNNNNNNNNNNNNNNEditionNGamble

mynursytest.store
3N
CopyrightN©N2019NMcGraw-HillN
10)NTheNstrategyNformulation,NstrategyNexecutionNprocessNN
A)NisNusuallyNdelegatedNtoNmembersNofNaNcompany'sNboardNofNdirectorsNsoNasNnotNtoNinfring
eNonNtheN
timeNofNbusyNexecutives.N

, B)NincludesNestablishingNaNcompany'sNmission,NdevelopingNaNbusinessNmodelNaimedNatNmaki
ngNtheN
companyNanNindustryNleader,NandNcraftingNaNstrategyNtoNimplementNandNexecuteNtheNbusine
ssN
model.N
C)NembracesNtheNtasksNofNdevelopingNaNstrategicNvision,NsettingNobjectives,NcraftingNaNstrate
gy,N
implementingNandNexecutingNtheNstrategy,NandNthenNmonitoringNdevelopmentsNandNinitiatin
gN
correctiveNadjustmentsNinNlightNofNexperience,NchangingNconditions,NandNnewNopportunities.
N

D)NisNprincipallyNconcernedNwithNsizingNupNanNorganization'sNinternalNandNexternalNsituatio
n,NsoNasN
toNbeNpreparedNforNtheNchallengeNofNdevelopingNaNsoundNbusinessNmodel.N
E)NisNprimarilyNtheNresponsibilityNofNtopNexecutivesNandNtheNboardNofNdirectors;NveryNfewNm
anagersN
belowNthisNlevelNareNinvolved.N
11)NANcompany'sNstrategicNvisionNconcernsN
A)NaNcompany'sNdirectionalNpathNandNfutureNproduct-customer-market-technologyNfocus.N
B)NwhyNtheNcompanyNdoesNcertainNthingsNinNtryingNtoNpleaseNitsNcustomers.N
C)Nmanagement'sNstoryNlineNofNhowNitNintendsNtoNmakeNaNprofitNwithNtheNchosenNstrategy.N
D)N"whoNweNareNandNwhatNweNdo."N
E)NwhatNfutureNactionsNtheNenterpriseNwillNlikelyNundertakeNtoNoutmaneuverNrivalsNandNach
ieveNaN
sustainableNcompetitiveNadvantage.N
12)NManagement'sNstrategicNvisionNforNanNorganizationN
A)NchartsNaNstrategicNcourseNforNtheNorganizationN("whereNweNareNgoing")NandNoutlinesNtheN
company'sNfutureNproduct-customer-market-technologyNfocus.N
B)NdescribesNinNfairlyNspecificNtermsNtheNorganization'sNbusinessNmodel,NstrategicNobjective
s,NandN
strategy.N
C)NspellsNoutNhowNtheNcompanyNwillNbecomeNaNbigNmoneymakerNandNboostNshareholderNval
ue.N
D)NaddressesNtheNcriticalNissueNofN"whyNourNbusinessNmodelNneedsNtoNchangeNandNhowNweN
planNtoN
changeNit."N
E)NspellsNoutNtheNorganization'sNstrategicNmovesNthatNwillNbeNundertakenNtoNachieveNcompe
titiveN
advantage.N
13)NTopNmanagement'sNviewsNaboutNwhereNtheNcompanyNisNheadedNandNwhatNitsNfutureNpr
oduct-
customer-market-technologyNwillNbeN
A)NindicatesNwhatNkindNofNbusinessNmodelNtheNcompanyNisNgoingNtoNhaveNinNtheNfuture.N
B)NconstitutesNtheNstrategicNvisionNforNtheNcompany.N