Management 490 Chapter 1 Part 1

20 Questions

Settings
Please wait...
Management Quizzes & Trivia

Study for Management 490 test


Questions and Answers
  • 1. 
    The process through which organizations analyze and learn from internal and external environments, establish strategic direction, create strategies that are intended to help achieve established goals, and execute those strategies, all in an effort to satisfy key organizational stakeholders
    • A. 

      SWOT Analysis

    • B. 

      Strategic Management

    • C. 

      Task Environment

  • 2. 
    Evaluation of the broad and task environments to determine trends, threats, and opportunities and to provide a foundation for strategic direction 
    • A. 

      Strategic Management

    • B. 

      Internal Stakeholders

    • C. 

      External Environmental Analysis

  • 3. 
    Consist of domestic and global environmental forces such as sociocultural, technological, political, and economic trends 
    • A. 

      Broad Environment

    • B. 

      Task Environment

    • C. 

      Opportunities

  • 4. 
    Consist of external stakeholders
    • A. 

      Broad Environment

    • B. 

      External Stakeholders

    • C. 

      Task Environment

  • 5. 
    Groups or individuals outside the organization that are significantly influenced by or have a major impact on the organization 
    • A. 

      Strategic Management

    • B. 

      External Stakeholders

    • C. 

      Internal Stakeholders

  • 6. 
    Managers, employees, and the owners and their representatives who have a stake in the outcomes of their organization 
    • A. 

      Internal Stakeholders

    • B. 

      External Stakeholders

    • C. 

      Strategic Direction

  • 7. 
    Strengths, weaknesses, opportunities, and threats
    • A. 

      SWOT Analysis

    • B. 

      Task Environment

    • C. 

      External Environmental Analysis

  • 8. 
    The firm’s resources and capabilities that can lead to a competitive advantage
    • A. 

      Threats

    • B. 

      Opportunities

    • C. 

      Strengths

  • 9. 
    Resources and capabilities that a firm does not possess but they are necessary, resulting in a competitive disadvantage 
    • A. 

      Weaknesses

    • B. 

      Strengths

    • C. 

      Strategic Direction

  • 10. 
    Conditions in the broad environment and task environment that allow a firm to take advantage of organizational strengths, overcome organizational weaknesses, and/or neutralize environmental threats 
    • A. 

      Opportunities

    • B. 

      Threats

    • C. 

      Strengths

  • 11. 
    Conditions in the broad and task environments that may stand in the way of organizational competitiveness or the achievement of stakeholder satisfaction 
    • A. 

      Opportunities

    • B. 

      Strengths

    • C. 

      Threats

  • 12. 
    Longer-term goals and objectives of the organization.  Also Defines the purpose for which an organization exists and operates 
    • A. 

      SWOT Analysis

    • B. 

      Strategic Direction

    • C. 

      Mission Statement

  • 13. 
    Describes the areas or industries in which an organization operates
    • A. 

      Broad Environment

    • B. 

      Mission Statement

    • C. 

      Strategic Direction

  • 14. 
    An organizational plan of action that is intended to move an organization toward the achievement of its shorter-term goals, and ultimately, toward the achievement of its fundamental purposes. 
    • A. 

      Strategy Implementation

    • B. 

      Strategic Control

    • C. 

      Strategy

  • 15. 
    Should be formulated to take advantage of the internal strengths and opportunities arising from the external environment, to overcome internal weaknesses, or to neutralize threats found in the external environment 
    • A. 

      Strategy

    • B. 

      Strategic Management Process

    • C. 

      Strategy Implementation

  • 16. 
    How businesses compete in the areas they have selected
    • A. 

      Corporate Strategy Formation (Domain Definition)

    • B. 

      Strategic Restructuring

    • C. 

      Business Strategy Formation (Domain Direction and Navigation)

  • 17. 
    The selection of business areas in which the organization will compete 
    • A. 

      Weaknesses

    • B. 

      Corporate Strategy Formation (Domain Definition)

    • C. 

      Business Strategy Formation (Domain Direction and Navigation)

  • 18. 
    The details of how the functional areas such as marketing, operations, finance, and research should work together to achieve business level strategy 
    • A. 

      Strategic Restructuring

    • B. 

      Environmental Determinism

    • C. 

      Functional Strategy Formation

  • 19. 
    This functional strategy is most closely associated with strategy implementation
    • A. 

      Functional Strategy Formation

    • B. 

      Corporate Strategy Formation (Domain Definition)

    • C. 

      Strategy

  • 20. 
    Involves creating the functional strategies, systems, structures, and processes needed by the organization in achieving strategic ends 
    • A. 

      Strategic Restructuring

    • B. 

      Enactment

    • C. 

      Strategy Implementation