Importance of company strategy management

SET#1 QUESTIONS

1. (p. 3) Which of the following is an element of a firm’s remote external environment?

A. Competition

B. Suppliers

C. Government agencies

D. Economic and social conditions

 

 

Difficulty: Easy

Learning Objective: 1

 

2. (p. 3) Which of the following is NOT a part of a firm’s immediate external environment?

A. Technological development

B. Competitors

C. Suppliers

D. Government agencies

 

 

Difficulty: Easy

Learning Objective: 1

 

3. (p. 3) The immediate external environment includes:

A. Competitors

B. S. B. U. s

C. Divisions

D. Management

 

 

Difficulty: Easy

Learning Objective: 1

 

 

 

4. (p. 3) The _______ comprises economic and social conditions, political priorities and technological developments, all of which must be anticipated, monitored, assessed and incorporated into the executive’s decision making.

A. Remote external environment

B. Task environment

C. Operating environment

D. Internal environment

 

 

Difficulty: Easy

Learning Objective: 1

 

5. (p. 3) The set of decisions and actions resulting in the formulation and implementation of plans designed to achieve a company’s objectives is defined as:

A. Strategic policy

B. Business policy

C. Strategic management

D. Tactics

 

 

Difficulty: Medium

Learning Objective: 2

 

6. (p. 3) Strategic management compromises nine critical tasks. Which of the following is NOT one of the tasks?

A. Development of annual objectives compatible with grand strategies

B. Assessment of the company’s external environment

C. Selection of a particular set of long-term objectives and grand strategies

D. Evaluate the success of the strategic process

 

 

Difficulty: Medium

Learning Objective: 2

 

 

 

7. (p. 4) Strategic management involves the _____, directing, _____ and controlling of a company’s strategy-related decisions and actions.

A. Financing; marketing

B. Planning; financing

C. Marketing; planning

D. Planning; organizing

 

 

Difficulty: Medium

Learning Objective: 2

 

8. (p.4) Large-scale, future-oriented plans, for interacting with the competitive environment to achieve company objectives refers to its

A. Strategy

B. Goals

C. Competitive analysis

D. Dynamic policies

 

 

Difficulty: Easy

Learning Objective: 2

 

9. (p. 4) A strategy is a company’s

A. Game plan

B. Pricing policy

C. Value statement

D. Long-term objective

 

 

Difficulty: Easy

Learning Objective: 2