Firms can be more proactive with strategic management.
Application of the strategic-management process is typically more formal in larger and
well-established organizations.
The work/family issue is strictly a women’s issue.
Although growth in revenues and profits is a common expectation of shareholders, it is
not a measure of organizational success.
The understanding of Asian cultures is a strength U.S. firms have in competing with
Pacific Rim firms.
The world population is expected to grow to an estimated ________ billion in 2054.
A) 6
B) 7
C) 8
D) 9
E) 10
Usually, external opportunities and threats are
A) uncontrollable by a single organization.
B) controlled by governments.
C) not as important as internal strengths and weaknesses.
D) key functions in strategy implementation.
E) key functions in strategy exploitation.
Firms should strive to engage in social activities that
A) have economic benefits.
B) have no economic benefits.
C) are detrimental to economic growth.
D) drain financial resources.
E) garner goodwill only, not profits.
The strategy-evaluation process should
A) dominate decisions.
B) be complex.
C) be cumbersome.
D) foster mutual understanding and trust.
E) be restrictive.
A particularly important twenty-first-century challenge facing all strategists today is
A) deciding whether the process should be more an art or a science.
B) deciding whether strategies should be visible or hidden from stakeholders.
C) deciding whether the process should be more top-down or bottom-up in their firm.
D) all of the above
E) none of the above
In general, U.S. managers feel the day has been productive if it is spent
A) rushing to meetings and conferences.
B) resting.
C) listening.
D) meditating.
E) thinking.
What is NOT a guideline given for effective strategic planning?
A) Continually strengthen the “good ethics is good business” policy.
B) It should not include jargon or arcane planning language.
C) It should not be too formal, predictable, or rigid.
D) It should welcome bad news.
E) It should be controlled by “technicians.”
All of the following are reasons to be completely open with the strategy process
EXCEPT
A) Managers, employees and other stakeholders can readily contribute to the process.
B) Investors, creditors and other stakeholders have greater basis for supporting a firm
that is open.
C) Visibility promotes democracy whereas secrecy promotes autocracy.
D) Participation and openness enhances understanding, commitment and
communication within the firm.
E) Openness limits rival firms from imitating or duplicating the firm’s strategies.
Which of these is NOT one of the tests used to determine whether a performance-pay
plan will benefit an organization?
A) Does the plan capture attention?
B) Do employees understand the plan?
C) Is the plan improving communications?
D) Does the plan pay out when it should?
E) Does the plan reduce management layers?
Which of the following business actions is considered to be unethical?
A) Satisfactory product or service safety
B) Selling products in foreign markets
C) Providing equal opportunities for women and minorities
D) Filing expense accounts
E) Misleading labeling
The Internet has made it _______ for firms to gather, assimilate, and evaluate
information.
A) easier
B) harder
C) more expensive
D) less clear-cut
E) more time-consuming