It is most effective to conduct strategy evaluation annually, at the end of the fiscal year.
Business ethics can be defined as principles of conduct within organizations that guide
decision making and behavior.
The firm should pursue conservative strategies if the coordinates of a SPACE
directional vector are (-1, +4).
Timely approximate information is generally more desirable as a basis for strategy
evaluation than accurate information that does not depict the present.
Constructing an Internal Factor Evaluation Matrix is a summary step when conducting
an internal strategic-management audit.
Each of the nine techniques included in the strategy formulation framework rely on the
use of
A) strictly factual data.
B) luck.
C) financial formulas and statistics.
D) intuition and analysis.
E) synergy.
Organizational resources include all of the following EXCEPT
A) employee training.
B) firm structure.
C) planning processes.
D) information systems.
E) copyrights.
Which of the following is NOT true concerning the Japanese concept of Wa?
A) Nearly all corporate activities in Japan encourage Wa among managers and
employees.
B) Discussions potentially disruptive to Wa are generally conducted in very formal
settings.
C) The potential attractiveness of alternative business decisions are evaluated in terms
of their long-term effect on the group’s Wa.
D) Entertaining is an important business activity in Japan because it strengthens Wa.
E) The Wa concept involves group loyalty and consensus.
Competitive advantage normally is the result of superiority in resources, skills, or
A) employees.
B) position.
C) consistency.
D) feasibility.
E) governance.
International financial reporting standards (IFRS) comprise approximately ________
pages.
A) 1,000
B) 5,000
C) 10,000
D) 25,000
E) 100,000
Under which strategy would you offer products or services to a wide range of customers
at the lowest price available on the market?
A) Cost Leadership – Low Cost
B) Cost Leadership – Best Value
C) Focus – Low Cost
D) Focus – Best Value
E) Differentiation
An overly general mission statement that ________ could be dysfunctional.
A) does not exclude any strategy alternatives
B) encourages management creativity
C) excludes all diversification
D) endorses the consideration of feasible potential strategies
E) allows for the generation and consideration of a range of alternative objectives
When an industry relies heavily on government contracts, which forecasts can be the
most important part of an external audit?
A) Economic
B) Political
C) Technological
D) Competitive
E) Multinational
If a firm has a bad sustainability record this will
A) help a firm in the market.
B) improve a firm’s standing in the community.
C) cause investors to closely scrutinize the firm.
D) deflect the scrutiny of a firm by environmentalists.
E) release the firm from governmental reporting obligations.
Managers and employees today must be careful not to ignore, conceal, or disregard a
pollution problem or they could
A) be fired.
B) be demoted.
C) be held indirectly responsible for their firm’s pollution.
D) have their firm turn on them in a quest for leniency.
E) All of the above
Which of these examples of a mission statement’s focus area does NOT identify the
utility of the firm’s products to its customers?
A) AT&T focuses on communication rather than telephones.
B) ExxonMobil focuses on oil and gas rather than energy.
C) Union Pacific focuses on transportation rather than railroads.
D) Universal Studios focuses on entertainment rather than movies.
E) A clothing retailer focuses on attractive looks rather than on clothes.
Which stage in the strategy-formulation framework focuses on generating feasible
alternative strategies?
A) Input
B) Output
C) Decision
D) Throughput
E) Matching
What term is used to describe specific guidelines, methods, procedures, rules, forms
and administrative practices established to support and encourage work toward stated
goals?
A) Long-term objectives
B) Policies
C) Annual objectives
D) Strategies
E) Values
Which of the following is NOT a pitfall an organization should avoid in strategic
planning?
A) Failing to communicate the plan to employees
B) Involving all managers rather than delegating planning to a “planner”
C) Top managers not actively supporting the strategic-planning process
D) Doing strategic planning only to satisfy accreditation or regulatory requirements
E) Failing to create a collaborative climate supportive of change
All of the following statements regarding the recent trend in Japan of switching from
seniority-based pay to performance-based approaches are true EXCEPT
A) the switch is an effort to cut costs.
B) the switch is boosting employee morale.
C) the switch is an effort to increase productivity.
D) the switch opposes the traditional training of Japanese employees to cooperate rather
than compete.
E) the switch goes against decades of encouraging workers to work in groups instead of
individually.