MGT 498 Strategic Management
FINAL EXAM
1.
In a survey of 50 corporations, which of the
following was rated as a benefit of strategic management?
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2.
Research suggests that strategic management
evolves through four sequential phases in corporations. The first phase is
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3.
Strategic management is that set of managerial
decisions and actions that determine the long-run performance of a
corporation. Which one of the following is NOT one of the basic elements of
the strategic management process?
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4.
The relationship among the board of directors, top
management, and shareholders is referred to as
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5.
The concept that proposes private corporations
have responsibilities to society that extend beyond making a profit is known
as
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6.
Who said that the social responsibility of
business is a "fundamentally subversive doctrine" and that the one
social responsibility of business is "to use its resources and engage in
activities designed to increase its profits so long as it stays with the
rules of the game..."?
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7.
Which of the following is NOT descriptive of
external environmental scanning?
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8.
According to Porter, the corporation is most
concerned with
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9.
When a company determines a competency's
competitive advantage, Barney refers to this issue as
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10.
An acronym for the assessment of the external and
internal environments of the business corporation in the process of strategy
formulation/strategic planning is
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11.
In the development of a SFAS matrix, the first
step is to
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12.
The technique that illustrates how
management can match the external opportunities and threats with its
strengths and weaknesses to yield four sets of strategic alternatives is
called a (an)
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13.
Which strategy specifies the firm's overall
direction in terms of its general orientation toward growth, the industries
or markets in which it competes, and the manner in which it coordinates
activities and transfers resources among business units?
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14.
Continuous improvement is an operations concept
developed in
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15.
The process by which a firm approaches its
cross-border activities and those of competitors, and plans to approach them
in the future, is called
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16.
What question must managers ask concerning
the relationship between economic logic and international strategy?
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17.
Which strategy is developed to pull together
the various activities and competencies of each department so that corporate
and business unit performance improves and resource productivity is maximized?
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18.
The strategy that deals with product and
process innovation and improvement is known as a ________ strategy.
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19.
The hiring of new people with new skills,
firing of people with inappropriate or substandard skills, and/or training
existing employees to learn new skills are included the process of
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20.
The strategy implementation tool used to
determine what actions are going to be taken, by whom, during what time
frame, and with what expected results is called a(n)
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21.
Executives with a particular mix of skills and
experiences may be classified as an executive type and paired with
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22.
According to the text, what is the "key"
to effective management of change in culture?
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23.
The sum total of the activities and choices
required for the execution of a strategic plan is known as in
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24.
Who typically implements strategy in large,
multi-industry corporations?
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25.
Which one of the following is NOT a part of the
evaluation and control of performance?
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26.
The end result of activity is known as
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27.
Which is the MOST commonly used measure of
corporate performance (in terms of profit)?
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28.
Because of the belief that accounting-based
numbers such as ROI, ROE, and EPS are not reliable indicators of a
corporation's economic value, which method of corporate performance is now
preferred?
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29.
Which company experienced a tarnished reputation
and scandal after experiencing behavior substitution when employees altered
their behavior on the job to fit the reward system?
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30.
Suboptimization occurs when
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