Question 1

In the middle of the decision-making hierarchy is the _____ level.

Accepted Answer

A)   Corporate
B)   Functional
C)   Business
D)   StrategicE) B) and D)
F) A) and D)

Question 2

Which of these managers tries to identify and secure the most profitable and promising market segment?

Accepted Answer

A)   Functional managers
B)   Corporate managers
C)   Business managers
D)   OperativeE) A) and B)
F) All of the above C

Question 3

A(n) _____ provides a framework for managerial decisions.

Accepted Answer

A)   Vision
B)   Organizational structure
C)   Strategy
D)   Long-term objectiveE) All of the above
F) A) and B) C

Question 4

Strategic management compromises nine critical tasks.Which of the following is NOT one of the tasks?

Accepted Answer

A)   Development of medium-term objectives compatible with grand strategies
B)   Assessment of the company's external environment
C)   Selection of a particular set of long-term objectives and grand strategies
D)   Evaluate the success of the strategic processE) A) and B)
F) A) and C)

Question 5

Strategic decisions have ______ effects on firms.

Accepted Answer

A)   Temporary
B)   Short-lived
C)   Enduring
D)   LimitedE) A) and B)
F) A) and C)

Question 6

Long-term objectives are principally attained through:

Accepted Answer

A)   Annual goals
B)   Functional strategies
C)   Short-term goals
D)   Grand strategyE) B) and D)
F) A) and D)

Question 7

The Walt Disney Company is a multibusiness company.It typically would have ____ levels of strategy.

Accepted Answer

A)   5 or more
B)   4
C)   3
D)   2E) A) and C)
F) A) and B) C

Question 8

_____ is concerned with tracking a strategy as it is being implemented,detecting problems or changes in its underlying premises and making necessary adjustments.

Accepted Answer

A)   Restructuring strategy
B)   Strategic control
C)   Internal analysis
D)   Functional tacticsE) All of the above
F) A) and D)

Question 9

Strategic issues require large amounts of the company's

Accepted Answer

A)   strengths
B)   opportunities
C)   suppliers
D)   resourcesE) B) and D)
F) None of the above

Question 10

To a large extent,attitudes at the corporate level reflect the concerns of

Accepted Answer

A)   Stockholders and society at large
B)   Top managers
C)   The CEO
D)   The federal governmentE) A) and C)
F) A) and B)

Question 11

A(n) strategy reflects a company's awareness of how,when and where is should ____,against whom it should _____ and for what purpose it should _____.

Accepted Answer

A)   cooperate
B)   ally
C)   compete
D)   planE) B) and C)
F) A) and D)

Question 12

A strategy is a company's

Accepted Answer

A)   Game plan
B)   Pricing policy
C)   Value statement
D)   Long-term objectiveE) B) and D)
F) B) and C)

Question 13

At Office Supply,Inc.,____ -level managers would be responsible for determining whether the company should be involved in home furnishings or electronic appliance businesses,whereas ____ -level managers would be responsible for determining how the firm will compete in the selected product-market arena.

Accepted Answer

A)   Business; corporate
B)   Corporate; functional
C)   Functional; business
D)   Corporate; businessE) A) and B)
F) C) and D)

Question 14

Specific actions that need to be undertaken to achieve short-term objectives,usually by functional areas,refers to

Accepted Answer

A)   Policies
B)   Formality
C)   Functional tactics
D)   ProcessE) None of the above
F) B) and C)

Question 15

Who determines the basis on which a company can compete in the selected product-market arena?

Accepted Answer

A)   Functional-level strategic managers
B)   Corporate-level strategic managers
C)   Business-level strategic managers
D)   Operational managers supervising operativeE) B) and C)
F) None of the above

Question 16

Typically how many strategic decision levels are there in the corporate decision-making hierarchy of a large corporation?

Accepted Answer

A)   5 or more
B)   4
C)   3
D)   2E) A) and D)
F) All of the above

Question 17

Dividend policies are decided at the

Accepted Answer

A)   Corporate level
B)   Business level
C)   Functional level
D)   Operational levelE) B) and C)
F) A) and C)

Question 18

The strategy management process is:

Accepted Answer

A)   Stationary
B)   Dynamic
C)   Static
D)   RadicalE) B) and C)
F) All of the above

Question 19

The degree to which participation,responsibility,authority and discretion in decision-making are specified in strategic management is called:

Accepted Answer

A)   Informality
B)   Formality
C)   Functional tactic
D)   Dynamic modeE) C) and D)
F) All of the above

Question 20

Which level of strategy is in the middle of the decision-making hierarchy?

Accepted Answer

A)   Corporate
B)   Functional
C)   Business
D)   StrategicE) A) and B)
F) C) and D)

Exam 1: Strategic Management

In the middle of the decision-making hierarchy is the _____ level.

Correct AnswerverifiedShow Answer

Which of these managers tries to identify and secure the most profitable and promising market segment?

Correct AnswerverifiedC

A(n) _____ provides a framework for managerial decisions.

Correct AnswerverifiedC

Strategic management compromises nine critical tasks.Which of the following is NOT one of the tasks?

Correct AnswerverifiedShow Answer

Strategic decisions have ______ effects on firms.

Correct AnswerverifiedShow Answer

Long-term objectives are principally attained through:

Correct AnswerverifiedShow Answer

The Walt Disney Company is a multibusiness company.It typically would have ____ levels of strategy.

Correct AnswerverifiedC

_____ is concerned with tracking a strategy as it is being implemented,detecting problems or changes in its underlying premises and making necessary adjustments.

Correct AnswerverifiedShow Answer

Strategic issues require large amounts of the company's

Correct AnswerverifiedShow Answer

To a large extent,attitudes at the corporate level reflect the concerns of

Correct AnswerverifiedShow Answer

A(n) strategy reflects a company's awareness of how,when and where is should ____,against whom it should _____ and for what purpose it should _____.

Correct AnswerverifiedShow Answer

A strategy is a company's

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Specific actions that need to be undertaken to achieve short-term objectives,usually by functional areas,refers to

Correct AnswerverifiedShow Answer

Who determines the basis on which a company can compete in the selected product-market arena?

Correct AnswerverifiedShow Answer

Typically how many strategic decision levels are there in the corporate decision-making hierarchy of a large corporation?

Correct AnswerverifiedShow Answer

Dividend policies are decided at the

Correct AnswerverifiedShow Answer

The strategy management process is:

Correct AnswerverifiedShow Answer

The degree to which participation,responsibility,authority and discretion in decision-making are specified in strategic management is called:

Correct AnswerverifiedShow Answer

Which level of strategy is in the middle of the decision-making hierarchy?

Correct AnswerverifiedShow Answer

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C

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C

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A(n) strategy reflects a company's awareness of how,when and where is should __,against whom it should _ and for what purpose it should ___.

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