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“To improve people’s lives through innovation. Moreover. All of the above 3. 1. it will facilitate a comprehensive discussion on the key terms . What is Competitive Advantage? a. All of the above f. research and patient care” (Ohio State University) b. Anything that a firm does well compared to rival firms b. The Strategist are individuals who are responsible for the success and failure of an organization. Strategic Management is all about gaining and maintaining Competitive Advantage.KOLEHIYO NG LUNGSOD NG LIPA Marawoy. Batangas 4217 Strategic Management Readiness Assessment A readiness assessment will be administered to determine student’s understanding of key terms with consideration of the learning experience related to Strategic Management. “We shall build good ships here-at a profit if we can – at a loss if we must – but always good ships “ (Newport News Shipping ) e. Developing strategies aligned to the changes in the external environment d. its importance and relation to Strategic Management . Which of the following is an example of a Vision Statement? a. “To organize the world’s information and make it universally accessible and useful” (Google) d. inspiring b. This will also define the approach and instruction appropriate in the conduct of the lectures. A mission statement must be a. Less fixed assets than rival companies can also provide a major competitive advantage c. Manager e. Owner c. broad in scope Page | 2 . All of the above 2. Who are the strategist ? a. Chairman of the board d. Lipa City. None of the above 4. “To create a technology solution for forward-thinking organization” (Siera Technology Solutions) c. Chief executive officer b.

Batangas 4217 c. past oriented d. Specific b. actions that requires human resource action c. Policies may also be called a. All of the above g. Procedure d. None of the above 8. Attainable d. all of the above 5. Which of the following may be considered as External Opportunities and Threats affecting firms? a. Rules c. All of the above e.KOLEHIYO NG LUNGSOD NG LIPA Marawoy. Therefore it must be: a. the means by which short term objectives are achieved b. Marketing trend using the Internet b. None of the above f. None of the above 7. Guidelines b. Internal strength and Weakness may be derived from a. All of the above f. The areas in which a corporation might establish its annual objective are: Page | 3 . none of the above 9. All of the above 6. Long term objective are essential to an organization’s success. Slowdown in consumer spending e. less than 250 words in length d. Lipa City. Technological Forces e. Timely f. Strategies are a. all of the above f. Realistic e. None of the above 10. Economic Forces b. Growth in revenues in the global markets c. Unemployment rates d. Demographic Forces d. Cultural Forces c. done with consideration of the internal environment only e. Measurable c.

_________________ 10. 4. etc) Utilization of resources Reputation (being considered a “top” firm) All of the above None of the above Direction: Answer the following question by writing the best letter of your choice 1. ________________ Score 8-10 5-7 1-4 Page | 4 .KOLEHIYO NG LUNGSOD NG LIPA Marawoy. _________________ 8. f. d. _________________ _________________ _________________ _________________ _________________ Readiness Rating Ready Almost Ready Not yet Ready 6. 2. c. 3. _________________ 9. b. Lipa City. e. Profitability (net profits) Efficiency (low costs. Batangas 4217 a. _________________ 7. 5.