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Chapter 01 - Strategic Management
51. (p. 9) Firms that are basically under the control of a single individual and produce a limited
number of products/services are referred to as following ______ mode.
52. (p. 9) The informal, intuitive and limited approach to strategic management associated with
owner-managers of smaller firm refers to the ____ mode of formality, according to
Mintzberg.
53. (p. 9) The planning mode refers to the
54. (p. 9) According to Mintzberg, the adaptive mode refers to
55. (p. 9) Which of these is NOT a mode of formality identified by Mintzberg?
56. (p. 9) The ideal strategic management team includes decision makers from
57. (p. 9) Managers at the _____ level typically have principal responsibilities for developing
environmental analysis and forecasting, establishing business objectives and developing
business plans prepared by staff groups.
58. (p. 9) When the dominance of the CEO approaches autocracy, the effectiveness of the
form's strategic planning and management processes are likely to:
59. (p. 10) Which of these is NOT true about the behavioral effect of strategic management?
61. (p. 10) Which of the following is a major function of the strategic management model?
62. (p. 12) Social responsibility is a critical consideration for a company's strategic decision
makers since
63. (p. 12) Analysis of the quantity and quality of the company's financial, human and physical
resources is a part of
64. (p. 12) The external environment consists of:
65. (p. 12) Which one of the following is NOT an interactive segment of a firm's external
environment?
66. (p. 11) Description of the company's product, market and technological areas of emphasis is
contained in the
67. (p. 12) The results that an organization seeks over a multiyear period are its
68. (p. 12) The doubling of EPS within 5 years with increases in each intervening year is called
a(n):
69. (p. 12-13) The difference between long-term and short-term objectives is principally:
70. (p. 13) Grand strategies include:
71. (p. 13) Which of the following is an example of a grand strategy?
72. (p. 12) Long-term objectives are principally attained through:
73. (p. 14) The minimum equity position required for all new McDonald's franchises is an
example of:
74. (p. 12) The general plan of major actions through which a firm intends to achieve is long-
term objectives is called its:
75. (p. 14) Broad, precedent-setting decisions that guide or substitute for repetitive or time-
sensitive managerial decision making are called
76. (p. 12) Which of the following is a generic strategy option?
77. (p. 13) Horizontal integration is an example of a
78. (p. 14) Specific actions that need to be undertaken to achieve short-term objectives, usually
by functional areas, refers to
79. (p. 14) Which of these refers to short-term, narrow scoped plans that detail "means" or
activities that a company will use to achieve short-term projects?
80. (p. 14) _____ is a critical stage in strategy implementation wherein managers attempt to
recast their organization.
81. (p. 15) _____ is concerned with tracking a strategy as it is being implemented, detecting
problems or changes in its underlying premises and making necessary adjustments.
82. (p. 15) Which of these is a form of strategic control in which managers are encouraged to be
proactive in improving all operations of the firm?
83. (p. 15) A flow of information through interrelated stages of analysis toward achievement of
an aim is:
84. (p. 15) Influential individuals and groups that are vitally interested in the actions of the
business are called
85. (p. 15) Strategic formulation and implementation of a plan are:
86. (p. 17) Strategic management processes need which of the following to enhance future
decision making?
87. (p. 17) The strategy management process is:
Essay Questions
88. Define strategic management. Identify any five of the nine critical tasks of strategic
management?
Learning Objective: 1
89. Strategic issues have several key dimensions. Briefly describe any four of them?
Learning Objective: 2
90. Describe the three levels of strategy in an organization. Provide an example of each?
91. With regards to the levels of strategy, compare and contrast single-business firms versus
multiple-business firms?
Learning Objective: 4
92. How do the characteristics of strategic management decisions vary with the level of
strategic activity considered?
Learning Objective: 4
93. What is meant by “formality” in strategic management? What forces determine how
much formality is needed in strategic management?
Learning Objective: 4
94. Describe the three different modes of formality, according to Mintzberg?
Learning Objective: 4
95. Who are the strategy makers in an organization?
Learning Objective: 4
96. Discuss the benefits of strategic management?
97. Define and briefly describe any five components of the strategic management model?
Learning Objective: 5
98. Differentiate between generic and grand strategies?
Learning Objective: 5
99. Define strategic control. Give an example of strategic control from a managerial
perspective?
Learning Objective: 5
100. What implications can be drawn from viewing strategic management as a process?
Explain?
