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CHAPTER1 the Strategic Management Process

CHAPTER1 the Strategic Management Process

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Published by: smb_146 on Feb 19, 2010
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CHAPTER1The Strategic Management Process
1. A firm's distinctive competence arises out of the competitive advantages it holdsover its rivals.a. Trueb. False2. For business enterprises, terrain refers to the industry environment in whichcompetition for customers takes place.a. Trueb. False3. A SWOT analysis examines the external strengths and weaknesses in an industryenvironment and the internal opportunities and threats in the firm.a. Trueb. False4. Senior management is usually the group in a firm that is most responsible for thecompany's strategic management.a. Trueb. False5. Stakeholders are the owners of a corporation.a. Trueb. False6. Strategy isa. the search for a distinctive competence.b. the choice of the terrain on which to compete.c. the ideas and plans used to compete against a firm's rivals.d. used only by for-profit firms.7. The essence of strategy isa. to capitalize on rivals' weaknesses.b. to match the firm's internal strengths to the opportunities available in itsterrain.c. to control the firm's industry environment.d. develop as many distinctive competencies as possible.
 8. A vision statementa. sets the firm's boundaries and provides a sense of direction foremployees.b. sets the specific results to be obtained within a given period of time.c. states what business the firm is in.d. describes the firm's aspirations to achieve some higher purpose.9. Which of the following is
one of the major steps in the strategic managementprocess?a. problem identificationb. analysisc. formulationd. implementation10. Corporate strategy for a diversified firma. entails extensive portfolio analysis.b. asks how to build competitive advantage for each business unit.c. asks what set of businesses the firm should operate.d. seeks to mitigate overall weaknesses by combining strengths from eachbusiness unit.11. Which of the following is not a strategic imperative?a. sustain an existing advantageb. overcome an existing weaknessc. build a new advantaged. extend an existing advantage to another business12. The formulation step in the strategic management process seeks toa. match the firm's internal strengths to the opportunities present in theexternal environment.b. put the firm's strategy into practice.c. identify the firm's strengths, weaknesses, opportunities, and threats.d. develop new business opportunities that the firm can exploit.13. Which of the following statements is
true about strategic decisions?
a. Strategic decisions are generally short term in nature.b. Strategic decisions are usually relatively easy to make.c. Strategic decisions affect only the owners and employees of the firm.d. Strategic decisions usually entail large financial obligations.14. Strategic managers includea. all managers in the firm.b. only business managers.c. both business and staff managers.d. only corporate vice presidents and above.15. When the needs of one stakeholder group conflict with the needs of anothergroup, the strategic manager should all but which of the following criteria?a. society's expectationsb. personal standards of behaviorc. marketing principlesd. legal obligations

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Where can i get this answer. please sent to me that answer....
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