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Strategic Management Essay

2265 words - 10 pages

MULTIPLE CHOICE QUESTIONS (The letter after each item number is the correct answer)

1B Which is NOT one of the strategic questions that an organization must ask itself?

a. Where is the organization now?
b. How can functional and operational areas be improved?
c. If no changes are made, where will the organization be in one year?
d. If the evaluation is negative, what specific actions should management take?
e. If no changes are made, where will the organization be in 10 years?

2D Which of the following is NOT a characteristic of strategic decisions as mentioned in the text?

a. directive
b. ...view middle of the document...

is an irregular and a discontinuous process.
b. should be followed unswervingly to ensure success of the plan.
c. is worthless.
d. should be reviewed after a specific interval of time to make sure it is still applicable.
e. is merely a checklist of actions following a logical process.

7B Which of the following is NOT one the five triggering events that are the stimulus for a strategic change?

a. Intervention by the organization's bank
b. Entrance of a new competitor into the industry
c. Change in ownership of the organization
d. New CEO
e. Awareness by management of decreased profitability

8B The corporate mission is best described by which one of the following?

a. A description of the activities carried out by the organization.
b. The purpose or reason for the corporation's existence.
c. A description of top management's responsibilities.
d. A statement of corporate objectives.
e. The philosophy of the founder.

9A A goal differs from an objective because it

a. is open-ended.
b. is quantified.
c. specifies measurable results.
d. is clearly specified.
e. provides a time horizon.

10C As defined in this course, a policy is

a. the purpose or reason for a corporation's existence.
b. a statement of activities or steps needed to accomplish a single-use plan.
c. a broad guideline for making decisions.
d. a comprehensive master plan stating how a corporation will achieve its mission and objectives.
e. a statement of a corporation's programs in dollar terms.

11B Which of the following is an example of an objective?

a. Diversify product line to appeal to more people.
b. Increase sales by 10% over last year.
c. Pay highest salaries to keep high quality employees.
d. Develop and sell quality appliances world-wide.
e. Divide a sales region into a group of sales districts.

12A Which of the following is an example of a strategy?

a. Diversify product line to appeal to more people.
b. Increase sales by 10% over last year.
c. Pay highest salaries to keep high quality employees.
d. Develop and sell quality appliances world-wide.
e. Divide a sales region into a group of sales districts.

13C Which of the following is an example of a policy?

a. Diversify product line to appeal to more people.
b. Increase sales by 10% over last year.
c. Pay highest salaries to keep high quality employees.
d. Develop and sell quality appliances world-wide.
e. Divide a sales region into a group of sales districts.

14D Which of the following is...

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