Question 1

The mechanism whereby the organization seeks to earn a profit by selling its goods is known as

Accepted Answer

A)  comparative advantage.
B)  competitive advantage.
C)  the business model.
D)  none of the above

Question 2

The term strategy refers primarily to activities at the top level of the organization.

Accepted Answer

A) True 
 B)False  True

Question 3

According to the scientific perspective of strategic planning,

Accepted Answer

A)  strategy formulation is not as critical as strategy execution.
B)  the business environment is seen as largely objective,analyzable,and at least somewhat predictable.
C)  creativity is vital and can only be generated when flexibility is applied to the strategy process.
D)  All of the above.

Question 4

The strategy actually implemented by management is known as the

Accepted Answer

A)  intended strategy.
B)  emergent strategy.
C)  realized strategy.
D)  effective strategy.

Question 5

Should steps in the strategic management process be completed sequentially?

Accepted Answer

a.The answer depends on one's perspectiv...

Question 6

Which of the following distinctions is not associated with strategic decision-making?

Accepted Answer

A)  It represents a systematic,comprehensive analysis.
B)  It involves choices.
C)  It is both short-term and long-term oriented.
D)  It is distinctively opportunistic.

Question 7

The notion of strategy assumes

Accepted Answer

A)  that experts in strategic planning are employed by the organization.
B)  that managers have time to develop formal strategic plans.
C)  that the organizational already has a plan.
D)  All of the above.

Question 8

Top management teams

Accepted Answer

A)  tend to include fewer managers in centralized organizations.
B)  usually include mostly top level managers.
C)  may include non-managers.
D)  All of the above.

Question 9

The concept of strategic management includes

Accepted Answer

A)  top management's analysis of the environment in which the organization operate
B)  the plan for strategy execution
C)  strategic control efforts.
D)  All of the above

Question 10

Which of the following perspectives assumes that industry structure is the primary influence on firm performance?

Accepted Answer

A)  Industrial organization theory
B)  Resource-based theory
C)  Contingency theory
D)  None of the above A

Question 11

Who makes strategic decisions? Who is responsible for the outcomes? Explain.

Accepted Answer

a.Answers should emphasize the fact that...

Question 12

The chief executive is held responsible for the effects of strategic decisions.

Accepted Answer

A) True 
 B)False

Question 13

If intended strategies are often not realized,then why should top managers invest time and energy into the strategic management process?

Accepted Answer

a.Answers should emphasize that although...

Question 14

Should strategic managers adopt a scientific perspective or an artistic perspective on strategy? Explain.

Accepted Answer

a.There are two different perspectives o...

Question 15

Which of the following is not a factor usually associated with an effective strategy?

Accepted Answer

A)  Top managers rely on outside strategic planners for creativity and analysis.
B)  Plans for putting the strategy into action are designed with specificity before it is implemented.
C)  Strategic managers understand how the organization's resources translate into strengths and weaknesses.
D)  Possible future changes in the proposed strategy are evaluated before the strategy is adopted.

Question 16

Which of the following is not a factor usually associated with an effective strategy?

Accepted Answer

A)  The strategy is consistent with them mission and the goals of the organization.
B)  Plans for putting the strategy into action are designed with specificity before it is implemented.
C)  Strategic managers understand how the organization's resources translate into strengths and weaknesses.
D)  All of the above are factors usually associated with an effective strategy.

Question 17

A gap between the intended and realized strategies

Accepted Answer

A)  rarely exists.
B)  exists only when management does a poor job of research.
C)  suggests middle management ineffectiveness.
D)  None of the above.

Question 18

Which strategic planning approach has been endorsed by most strategy scholars?

Accepted Answer

A)  Conceptual perspective
B)  Artistic perspective
C)  Scientific perspective
D)  None of the above.

Question 19

Which of the following perspectives may be viewed as a "middle ground" between the other two?

Accepted Answer

A)  Industrial organization theory
B)  Resource-based theory
C)  Contingency theory
D)  None of the above

Question 20

The gap between intended and realized strategies usually results from middle management ineffectiveness.

Accepted Answer

A) True 
 B)False  False

Exam 1: Fundamentals of Strategic Management

The mechanism whereby the organization seeks to earn a profit by selling its goods is known as

Correct AnswerverifiedShow Answer

The term strategy refers primarily to activities at the top level of the organization.

Correct AnswerverifiedTrue

According to the scientific perspective of strategic planning,

Correct AnswerverifiedShow Answer

The strategy actually implemented by management is known as the

Correct AnswerverifiedShow Answer

Should steps in the strategic management process be completed sequentially?

Correct Answerverifieda.The answer depends on one's perspectiv...View AnswerShow Answer

Which of the following distinctions is not associated with strategic decision-making?

Correct AnswerverifiedShow Answer

The notion of strategy assumes

Correct AnswerverifiedShow Answer

Top management teams

Correct AnswerverifiedShow Answer

The concept of strategic management includes

Correct AnswerverifiedShow Answer

Which of the following perspectives assumes that industry structure is the primary influence on firm performance?

Correct AnswerverifiedA

Who makes strategic decisions? Who is responsible for the outcomes? Explain.

Correct Answerverifieda.Answers should emphasize the fact that...View AnswerShow Answer

The chief executive is held responsible for the effects of strategic decisions.

Correct AnswerverifiedShow Answer

If intended strategies are often not realized,then why should top managers invest time and energy into the strategic management process?

Correct Answerverifieda.Answers should emphasize that although...View AnswerShow Answer

Should strategic managers adopt a scientific perspective or an artistic perspective on strategy? Explain.

Correct Answerverifieda.There are two different perspectives o...View AnswerShow Answer

Which of the following is not a factor usually associated with an effective strategy?

Correct AnswerverifiedShow Answer

Which of the following is not a factor usually associated with an effective strategy?

Correct AnswerverifiedShow Answer

A gap between the intended and realized strategies

Correct AnswerverifiedShow Answer

Which strategic planning approach has been endorsed by most strategy scholars?

Correct AnswerverifiedShow Answer

Which of the following perspectives may be viewed as a "middle ground" between the other two?

Correct AnswerverifiedShow Answer

The gap between intended and realized strategies usually results from middle management ineffectiveness.

Correct AnswerverifiedFalse

Correct Answer
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True

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a.The answer depends on one's perspectiv...
View Answer

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A

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a.Answers should emphasize the fact that...
View Answer

Correct Answer
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Correct Answer
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a.Answers should emphasize that although...
View Answer

Correct Answer
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a.There are two different perspectives o...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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False