1. Which of the following is NOT a type of strategy developed from a SWOT analysis?

A) Strengths/Opportunities

B) Strengths/Threats

C)Threats/Opportunities.

D)Weaknesses/Opportunities

E) Weaknesses/Threats

2. Because of the success of the iPad and the iPhone, Apple has tremendous brand recognition.
Brand recognition is one of Apple's

A) weaknesses.

B) opportunities.

C)strengths.

D)threats.

E) strategies.

3. The acronym SCDE stands for social, cultural, demographic, and ____ forces.

A) economic

B) ecological

C)ethnic

D)external

E) environment

4. The mission statement should reflect the anticipation of ____

A) customers.

B) government.

C)investors.

D)lenders.

E) suppliers.

5. All of the following situations are conducive (supportive) to market development EXCEPT

A) when new channels of distribution are expensive and unreliable.

B) when an organization is successful at what it does.

C)when new untapped or unsaturated markets exist.

E) when an organization's basic industry is rapidly becoming global in scope.

1 points

6. In performing strategic planning and case analysis, relevant SCDE factors for a particular firm
must be ____ and actionable to be useful.

A) important

B) past focused

C)present focused

D)quantified

E) secular

7. Since ___ resources can more easily be bought and sold, ___ resources are often more
important for gaining and sustaining competitive advantages.

A) tangible; intangible

B) intangible; tangible

C)tangible; organizational

D)intangible; external

E) internal; external

8. The first activity in the strategy-evaluation process is to

A) develop organizational goals.

B) examine the underlying bases of a firm's strategy.

C)compare expected results with actual results.

D)examine the capital structure.

E) take corrective actions to ensure that performance conforms to plans.

9. The other name for operating income is

A) net income.

B) earnings-per-share.

C)earnings-before-interest-and-taxes.

D) gross margin.
 E) return on assets.

10. What are enduring statements of purpose that distinguish one business from other similar
firms?

A) Policies

B) Mission statements.

C)Objectives

D)Rules

E) Employee conduct guidelines

1 points

11. Which statement best describes intuition?

A) It alone should be used in decision making.

B) It represents a minor factor in decision making integrated with analysis.

C)It should be coupled with analysis in decision making.

D)It is better than analysis in decision making.

E) It is management by ignorance.

12. Which of these strategies is effective when the number of suppliers is small and the number of
competitors is large?

A) Conglomerate diversification

B) Forward integration

C)Concentric diversification

D)Backward integration

E) Horizontal diversification

13. An effective mission statement should do all of the following EXCEPT

A) include monetary amounts, numbers, percentages and ratios.

B) be inspiring.

C)reveal that the firm is environmentally responsible.

D)identify the utility of a firm's products.

E) be reconciliatory.
 14. Which matrix is included in the decision stage of the strategy formulation framework?

A) Internal Factor Evaluation (IFE) Matrix

B) Quantitative Strategic Planning Matrix (QSPM)

C)Boston Consulting Group (BCG) Matrix

D)Grand Strategy Matrix

E) none of the above

1 points

15. Which question is NOT addressed in an effective mission statement?

A) Is the firm committed to growth and financial soundness?

B) Are employees a valuable asset of the firm?

C)Geographically, where does the firm compete?

D)Who are the firm's customers?

E) What are the updated balances of leading accounts on the firm's balance sheet?

1 points

16. All of the following are political, governmental, and legal variables that can represent key
opportunities or threats to organizations EXCEPT

A) tariffs.

B) environmental regulations.

C)level of defense expenditures.

D)legislation on equal employment.

E) population changes by race, age, sex, and level of affluence

17. What types of skills are especially critical for successful strategy implementation?

A) Interpersonal.

B) Marketing

C)Technical

D)Conceptual

E) Visionary
18. A systematic and ethical process for gathering and analyzing information about the
competition's activities and general trends to further a business' own goals is called __

A) unethical business practices.

B) artificial intelligence.

C)competitive intelligence.

D)industrial espionage.

E) competitive advantage.

19. The potential for creative growth in an organization can be limited by

A) an overemphasis on stakeholders.

B) not enough emphasis on stakeholders.

C)a mission statement that is too general.

D)a mission statement that is too specific.

E) a mission statement that is too dynamic.

20. Forward integration and backward integration are sometimes collectively referred to as

A) horizontal integration.

B) diversification.

C)vertical integration.

D)stuck-in-the-middle.

E) hierarchical integration.

21. Uber has fewer fixed assets than the typical taxi fleet company. This type of benefit that a
company such as Uber has is called a(n)

A) business moat.

B) first-mover advantage.

C)asset margin.

D)strategic advantage.

E) competitive advantage.

22. Which of these basic questions should a vision statement answer?

A) What is our business?

B) What is our core strength?

D)What do we want to become?

E) Who are our competitors?

23. What question is asked in combination with the philosophy component of a mission
statement?

A) What are the firm's major products or services?

B) Is the firm committed to growth and financial soundness?

C)What are the basic beliefs, values, aspirations, and ethical priorities of the firm?

D)Is the firm responsive to social, community, and environmental concerns?

E) Are employees a valuable asset of the firm?

24. The IFE Matrix should be ____ in multidivisional firms.

A) constructed for each autonomous division

B) all-inclusive

C)constructed only for the major divisions

D)developed before the EFE Matrix

E) revised monthly

25. Which of the following is NOT a management issue central to strategy implementation?

A) Devising policies

B) Revising reward and incentive plans

C)Performing an internal audit

D)Minimizing resistance to change

E) Developing an effective human resources function

26. Financial objectives involve all of the following EXCEPT

A) growth in revenues.

B) larger market share.

C)higher dividends.

D)greater return on investment.

E) a rising stock price.

27. External audits attempt to identify key variables that offer ____ responses.
 A) actionable

B) authoritative

C)profitable

D)strategic

E) terminal

28. All of the following utility statements are relevant in developing a mission statement EXCEPT

A) Do not offer me shoes. Offer me comfort for my feet and the pleasure of walking.

B) Do not offer me furniture. Offer me comfort and the quietness of a cozy place.

C)Do not offer me ideas, emotions, ambience, feelings, and benefits. Offer me things.

D)Do not offer me books. Offer me hours of pleasure and the benefit of knowledge.

E) Do not offer me a house. Offer me security, comfort, and a place that is clean and
happy.

29. There is a dramatic shift in mass retailing to

A)"trading up" and taking customers from more exclusive stores.

B) selling only the most expensive merchandise.

C)opening dramatically larger supercenters.

D)operating stores with less square footage.

E) cutting back on their online presence.

30. ___ is NOT a strategy-implementation activity.

A) Taking corrective actions.

B) Establishing annual objectives

C)Devising policies

D)Allocating resources

E) Motivating employees