Management 490 Chapter 1 Part 2

20 Questions | Total Attempts: 67

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Questions and Answers
  • 1. 
    The processes that lead to adjustments in strategic direction, strategies, or the implementation plan when necessary 
    • A. 

      Strategy Implementation

    • B. 

      Strategic Control

    • C. 

      Strategic Restructuring

  • 2. 
    Activities are usually performed simultaneously, with constant adjustments to assumptions, direction, strategies, and processes as new information is learned and new assessments are made 
    • A. 

      Strategic Management Process

    • B. 

      Strategic Restructuring

    • C. 

      Functional Strategy Formation

  • 3. 
    A renewed emphasis on the things an organization does well, combined with a variety of tactics to revitalize the organization and strengthen its competitive position. 
    • A. 

      Strategic Management Process

    • B. 

      Strategic Control

    • C. 

      Strategic Restructuring

  • 4. 
    Good management is associated which strategy will best fit environmental, technical, and human forces at a particular point in time, and then working to carry it out.  The most successful organization will be the one that best adapts to existing forces 
    • A. 

      Sustainable Competitive Advantage

    • B. 

      Environmental Determinism

    • C. 

      Deliberate Strategy

  • 5. 
    Organizations do not have to submit to existing forces in the environment.  They can shape their environments through strategic alliances with stakeholders, advertising, political lobbying, and a variety of other activities 
    • A. 

      Strategy Implementation

    • B. 

      Enactment

    • C. 

      Strategic Management Process

  • 6. 
    Implies that managers plan to pursue an intended strategic course
    • A. 

      Deliberate Strategy

    • B. 

      Emergent Strategy

    • C. 

      Strategic Control

  • 7. 
    A strategy that was not planned or intended, but involves recognizing an opportunity and reacting quickly 
    • A. 

      Deliberate Strategy

    • B. 

      Strategic Restructuring

    • C. 

      Emergent Strategy

  • 8. 
    Managers often learn what will work through trial and error
    • A. 

      Deliberate Strategy

    • B. 

      Strategic Management Process

    • C. 

      Emergent Strategy

  • 9. 
    An organization has a bundle of resources which fall into the general categories of financial resources, physical resources, human resources, knowledge and learning resources, and general organizational resources 
    • A. 

      Long Term Orientation

    • B. 

      Resource-Based View of the Firm

    • C. 

      Stakeholder Analysis

  • 10. 
    An advantage that is difficult to imitate by competitors and thus leads to higher than average organizational performance over a long time period 
    • A. 

      Strategic Thinking

    • B. 

      Stakeholder Analysis

    • C. 

      Sustainable Competitive Advantage

  • 11. 
    Identifying and prioritizing key stakeholders, assessing their needs, collecting ideas from them, and integrating this knowledge into strategic management processes such as the establishment of strategic direction and the formulation and implementation of strategies. 
    • A. 

      Stakeholder Analysis

    • B. 

      Strategic Intent

    • C. 

      Resource-Based View of the Firm

  • 12. 
    Communicating, negotiating, contracting, and managing relationships with stakeholders, and motivating them to behave in ways that are beneficial to the organization and it other stakeholders. 
    • A. 

      Strategic Thinking

    • B. 

      Stakeholder Management

    • C. 

      Scientific Approach (Hypothesis Testing)

  • 13. 
    Dominated by three regions (Triad Region) which are North America, Europe, and the Pacific Rim.  The best parts and technology do not exist here 
    • A. 

      World Economy

    • B. 

      Long Term Orientation

    • C. 

      Systems Perspective

  • 14. 
    The creative aspect of strategic management
    • A. 

      Scientific Approach (Hypothesis Testing)

    • B. 

      Stakeholder Management

    • C. 

      Strategic Thinking

  • 15. 
    Based on a vision of where the organization is trying to go
    • A. 

      Systems Perspective

    • B. 

      Strategic Intent

    • C. 

      Strategic Thinking

  • 16. 
    Where the firm is going in the long run
    • A. 

      World Economy

    • B. 

      Long Term Orientation

    • C. 

      Organizational Learning Perspective

  • 17. 
    Strategies that emerge out of a stream of decisions
    • A. 

      Organizational Learning Perspective

    • B. 

      Long Term Orientation

    • C. 

      Scientific Approach (Hypothesis Testing)

  • 18. 
    The organization sits at the center of a network of constituencies called stakeholders 
    • A. 

      Organizational Learning Perspective

    • B. 

      World Economy

    • C. 

      Systems Perspective

  • 19. 
    The firm generates ideas through a creative process and then test them to see if they will work 
    • A. 

      Stakeholder Management

    • B. 

      Scientific Approach (Hypothesis Testing)

    • C. 

      Organizational Learning Perspective

  • 20. 
    Falling trade barriers in European markets, a general worldwide economic malaise, and fears of increased terrorist activity are among the most significant global trends affecting business decision making in international markets.
    • A. 

      True

    • B. 

      False

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