Question-1
__________ involves how a corporation uses its resources and protects stakeholders' interests.
A. Financial oversight
B. Corporate governance
C. Steering committee focus
D. Corporate counsel
Question-2
The emergence of strategic planning and strategic management dates back to the __________, when researchers began looking for explanations of organizational differences in performance and functioning.
A. 1950s
B. 1960s
C. 1970s
D. 1980s
Question-3
__________ strategies are goal-directed plans and actions of the organization's functional areas.
A. Situational
B. Business
C. Competitive
D. Operational
Question-4
Strategic __________ is the ability to anticipate, envision, maintain flexibility, think strategically, and work with others in the organization to initiate changes that will create a viable and valuable future for the organization.
A. awareness
B. leadership
C. thinking
D. control
Question-5
The board of directors in an organization:
A. plays a significant role in corporate governance.
B. is responsible for the implementation of the organization's operating activities.
C. serves in the role of executive management.
D. is not an important part of the organization's strategic development.
Question-6
In the development of strategic management as a discipline, Alfred Chandler wrote the book:
A. Corporate Strategy.
B. The Teflon Leader.
C. The Pursuit of Excellence.
D. Strategy and Structure.
Question-7
Section 404 of the Sarbanes-Oxley Act deals with the establishment and auditing of:
A. external financial controls.
B. internal financial controls.
C. appointment of the CEO.
D. appointment of Board members.
Question-8
One issue considered in developing corporate strategies is:
A. What competition are we facing?
B. What direction are we going in?
C. What resources do we have to implement our strategies?
D. What businesses are we in and what to do with those businesses?
Question-9
One strategic responsibility of managers and employees at other levels throughout the organization is:
A. strategy implementation.
B. situation analysis.
C. strategy formulation.
D. developing the organization's vision.
Question-10
Strategic management affects all organizational members. However, the only issue that differs among organizational members is the:
A. stage of the strategic management process.
B. scope of the individual's actions.
C. development of the strategy.
D. administrative impacts.
Question-11
Situation analysis allows the organization to focus on examining:
A. operational competencies.
B. financial controls.
C. the organization's top management.
D. external and internal factors.
Question-12
An organization's strategy is its goal-directed decisions and actions in which its capabilities and resources are matched with the __________ in its environment.
A. internal and external financial controls
B. opportunities and threats
C. long-term issues
D. sequential management process
Question-13
An organization's __________ are its goal-directed plans and actions in which its capabilities and resources are matched with the opportunities and threats in its environment.
A. mission statements
B. vision statements
C. strategies
D. objectives
Question-14
The __________ is an elected group that represents a company's shareholders.
A. board of directors
B. senior management team
C. steering committee
D. corporate counsel
Question-15
Bases for understanding strategic management are all of the following EXCEPT:
A. managing strategically makes a difference in an organization's performance.
B. all organizations encounter changing situations.
C. single approaches to strategy development are superior to multiple approaches.
D. all strategies must be evaluated and changed over time.
Question-16
__________ is/are the determination of the broad uses to which organizational resources will be deployed and the resolution of conflicts among the myriad participants in organizations.
A. Vision
B. Mission
C. Corporate governance
D. Goals
Question-17
__________ differences are fundamental differences between countries that encompass traditions, history, religious beliefs, and deep-seated values.
A. Colonial
B. Cultural
C. Transnational
D. Regional
Question-18
Which of the following is NOT a major element of the strategic management process?
A. Formulating strategy
B. Implementing strategy
C. Undertaking a situation analysis
D. Assigning administrative tasks
Question-19
Situation analysis involves the process of:
A. designing and choosing appropriate organizational strategies.
B. analyzing the current environment of the organization.
C. identifying external competitive threats.
D. evaluating the internal aspects of the organization.
Question-20
It appears that organizations that use strategic management concepts and techniques have higher:
A. profit margins.
B. employee satisfaction.
C. levels of performance.
D. global involvement.
