TOWNSEND EXAM 1 QUESTIONS AND VERIFIED ANSWERS
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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅C. The feedback loop
According to the chapter, an important question to answer in developing a strategic plan is:
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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅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 - CORRECT ANSWER✅✅✅C. The feedback loop
According to the chapter, an important question to answer in developing a strategic plan is:
