The PESTEL analysis is the widely used tool to analyze the macroenvironment.

 *

True
False

Having a poor brand image is considered as the weakness of the firm. *

True
False

High initial capital investment may be a factor to have a high barrier to entry. *

True
False

As the relative price of substitute items falls and consumers' switching costs fall,
competitive pressures from substitute products increase. *

True
False

Political differs from legal factors in a sense that the former concerned on a special
laws and regulations. *

True
False

When backward integration is a widespread practice among competitors in a sector,

firms may usually negotiate better terms with suppliers. *

True
False

Generally, if a company wants to target the potential customers in a “bachelor” stage

of the lifecycle, they must offer them something that a family can use. *

True
False

The COVID-19 pandemic brings nothing but negative effect to all of the sectors like
business sector. *

True
False

Strategic management focuses on the separation of business activities for efficient

process. *
True
False

Economic crisis is considered as the weakness of the firm. *

True
False

Mission statements are something that firms try to accomplish. *

True
False

When a company can do something that competitors can't or owns something that
competitors want, it is what competitive advantage is about. *

True
False

Vision statement is the reason why the business exists. *

True
False

Mission statement must incorporate your “actual” product. *

True
False

Competition increases as the customers can switch from one brand to another brand
easily. *

True
False

Strategic planning often refers to strategy formulation only. *

True
False

The intensity of rivalry amongst companies are the similar across industries. *

True
False

Strategic management is frequently denoted as strategic planning with the strategic

planning often used in business world. *
True
False

Vision statement are the specific statements that the company want to achieve. *

True
False

Vision statements are often the first step in strategic planning. *

True
False

Having a competent employee is considered as the strength of the company. *

True
False

Strategic management is more broad than strategic planning. *

True
False

Vision statements are something that firms try to achieve. *

True
False

Mission statement must have all of the nine components to be considered as good
mission statement. *

True
False

Customers' bargaining power is a major force determining the intensity of competition

in a sector when they are concentrated, huge, or buy in bulk. *

True
False

Strategies are the means of achieving your firm’s long-term objectives. *

True
False

Strategic management helps firm achieve and maintain competitive advantage. *

True
False
The owners of small businesses cannot be considered as strategists since they are
just managing a “small” number of people. *

True
False

The free flow of knowledge on the Internet is lowering costs and inflation around the
world. *

True
False

Microenvironment includes the firms, customers, competitors and etc. *

True
False

Macroenvironment includes the political, economic, technological, and etc. *

True
False

ACMA company wants to target the potential customers in the Empty Nest stage of
the lifecycle, therefore, they must offer products/services for home improvement. *

True
False

Inflation rate is one of the controllable factors of the firm. *

True
False

Ms. Mary Grace Soriano, a business of ACMA company, is in the strategy evaluation
phase if she is planning to enter the international market. *

True
False

Developing a vision and mission statements are not the importance as developing
your strategies. *

True
False

Ms. Janine Lyka De Vera, a business owner of BSMA company, is in the strategy
formulation phase if she thinks about what new businesses to venture. *
True
False

A clear Mission statement must define the principles and priorities of an

organization. *

True
False

Strategy implementation is typically where you measure the firm’s performance. *

True
False

In many sectors, it is more cost-effective to engage outside component suppliers than

self-manufacture the supplies needed. *

True
False

When the products to buy are usual or identical, consumers have more bargaining
power. *

True
False

Vision statement answers the question “what do we want to become?”. *

True
False

The complexity of relationships among corporate functional domains is exemplified by

financial ratio analysis. *

True
False

Strategic management is based on pure science since it is often termed as the logical
ways and methodical style for making key decisions in a company. *

True
False

Usually, Porter’s five forces model is used to analyze the microenvironment. *

True
False
Objectives are precise outcomes that an organization aspires to achieve in order to
fulfill its primary mission. *

True
False

Long term objectives are the same as in your annual objectives. *

True
False

Strategy evaluation is usually where the execution of strategies happens. *

True
False

It pertains to innovation in technology and the regulations surrounding technology  *

Your answer

It refers to all those managerial activities directed toward ensuringthat actual results
are consistent with planned results. *

Your answer

It can be defined as the process of influencing people to accomplish specific

objectives *

Your answer

These are activities centered on personnel or human resource management. *

Your answer

It is approach to competitive advantage contends that internalresources are more

important for a firm than external factors in achieving and sustaining competitive
advantage. *
Your answer

It involves issues such as the natural environment, global warming, and sustainable
economic growth. *

Your answer

It consists of all those managerial activities related to preparingfor the future. *

Your answer

It is the art and science of formulating, implementing,and evaluating cross-functional

decisions that enable an organization to achieve its objectives. *

Your answer

It is anything that a firm does especially well compared to rival firms. *

Your answer

What is the first stage in strategic management process? *

Your answer

What is the second stage in strategic management process? *

Your answer

What is the third stage in strategic management process? *

Your answer

It includes all those managerial activities that result in a structure of task and authority
relationships *

Your answer
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