Quiz 1 (Chapter 1) – Flashcards
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?________ is a set of managerial decisions and actions that help managers determine? long-run performance of an organization.
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A. Population ecology B. Vision statement *C. Strategic management* D. Feedback and learning E. Mission statement
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All of the following statements are true about strategic management EXCEPT? ________.
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A. strategic management emphasizes? long-term organizational performance *B. research reveals that organizations that engage in strategic management generally underperform those that do not* C. the attainment of an appropriate? match, or? "fit" between an? organization's environment and its? strategy, structure, and processes has positive effects on the? organization's performance D. many companies can manage? short-term bursts of high? performance, but only a few can sustain it over a longer period of time E. strategic planning becomes increasingly important as the environment becomes more unstable
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The Phases of Strategic Management include all of the following EXCEPT? ________.
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A. externally oriented planning B. ?forecast-based planning C. strategic management *D. ?technology-based planning* E. basic financial planning
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Strategic planning at small companies is? ________ and? irregular; whereas planning the strategy of? large, multidivisional corporations can be? ________.
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A. uneven; complex B.? formal; unsophisticated C.? formal; concise D.? uneven; simple *E.? informal; complex*
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Which of the following is defined as the set of managerial decisions and actions that determine the? long-run performance of the? organization?
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A. Globalization *B. Strategic management* C. Sustainability D. Innovation E. Triple bottom line
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?________ is the integrated internationalization of markets and corporations.
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*A. Globalization* B. Sustainability C. Vision D. Innovation E. Institution
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The phrase used to describe a? business's sustainability is? ________.
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*A. triple bottom line* B. strategic flexibility C. strategic management D. Association of Southeast Asian Nations? (ASEAN) E. learning organization
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The term managers use to reduce challenges to strategic management is ?________; and, it is the machine that generates business opportunities in the market. Managers also use this to describe new? products, services, and methods of organizational approaches that allow businesses to achieve extraordinary returns.
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A. regional trade associations B. globalization C. triple bottom line *D. innovation* E. sustainability
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All of the following statements are examples of sustainable business practices EXCEPT? ________.
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A. a company that does not pollute the ocean waters with debris and waste materials B. a company that recycles and refurbishes materials to help save precious resources C. lawsuits that force organizations to stop unethical dumping practices *D. a company that moves its operation offshore to a developing nation that has fewer governmental restrictions* E. governments pass laws that restrict organizations from polluting the environment
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The basic model of strategic management consists of all the four basic components EXCEPT? ________.
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A. strategy implementation *B. marketing department* C. evaluation and control D. strategy formulation E. environmental scanning
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An? organization's ________ is the purpose or reason for the? organization's existence.
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A. strategy implementation *B. mission* C. evaluation and control D. strategy formulation E. environmental scanning
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All of the following statements about mission statements are true EXCEPT? ________.
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A. a? well-conceived mission statement defines the? fundamental, unique purpose that sets a company apart from other firms of its type and identifies the scope of the? company's operations B. the mission statement promotes a sense of shared expectations in employees and communicates a public image to important stakeholder groups in the? company's task environment *C. individuals and groups consider vision and mission as the same concept and they are useless when combined into a single mission statement* D. an? organization's mission is the purpose or reason for the? organization's existence E. research reveals that firms with mission statements containing explicit descriptions of customers served and technologies used have significantly higher growth than firms without such statements
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Although? ________ is fundamentally concerned with? strengths, weaknesses,? opportunities, and? threats, the methods to analyze each has developed substantially in the past two decades.
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A. the mission statement B. organizational learning C. strategic flexibility D. the vision statement *E. strategic management*
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Which of the following components of the strategic management process is used to? monitor, evaluate, and disseminate information from the external and internal environments to key people in the? organization?
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A. Feedback and learning B. Strategy implementation C. Strategy formulation D. Evaluation and control *E. Environmental scanning*
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?________ describes corporations as evolving through relatively long periods of stability punctuated by relatively short bursts of fundamental change.
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*A. Punctuated equilibrium* B. Strategic flexibility C. Triggering event D. Mission statement E. Vision statement
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Which of the following terms is defined as something that acts as a stimulus for a change in? strategy?
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A. Mission statement B. Strategic flexibility C. Punctuated equilibrium D. Vision statement *E. Triggering event*
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Which of the following scenario is NOT a triggering? event?
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A. Performance gap B. External intervention *C. Old CEO* D. Threat of a change in ownership E. New CEO
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The? decision-making mode that is characterized by a focus on opportunities and in which problems are secondary is the? ________ mode of strategic decision making.
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*A. entrepreneurial* B. adaptive C. execution D. planning E. logical incrementalism
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Which of the following is known as the distinguishing characteristic of strategic? management?
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A. Strategic flexibility *B. Its emphasis on strategic? decision-making* C. Vision statement D. Triggering events E. Punctuated equilibrium
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According to Henry? Mintzberg, there are typical? approaches, or? modes, of strategic decision making. All of the following are typical modes of strategic decision making EXCEPT? ________.
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A. planning mode B. entrepreneurial mode C. adaptive mode *D. vision mode* E. logical incrementalism
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In the? ________ mode, the dominant goal is growth of the corporation.
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A. planning B. strategic C. adaptive D. logical incrementalism *E. entrepreneurial*
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?A(n) ________ is a checklist of? questions, by area or? issue, which enables a systematic analysis to be made of various corporate functions and activities.
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A.strategy implementation B.environmental scan *C. strategic audit* D. feedback and learning E. strategy formulation
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The strategic? decision-making process is through a technique known as the? ________.
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A. evaluation and control B. feedback and learning C. strategy implementation D. strategy formulation *E. strategic audit*
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One effective means of putting the strategic? decision-making process into action is through a technique known as the? ________ audit.
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A. globalization B. innovation C. sustainability D. vision *E. strategic*
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A strategic audit is a type of management audit and is extremely useful as? a(n) ________ tool to pinpoint? corporate-wide problem areas and to highlight organizational strengths and weaknesses.
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*A. diagnostic* B. innovation C. uncharacteristic D. sustainability E. globalization
