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Internal Environment Quiz

1. The document contains questions about key terms related to strategic management: mission, vision, goals, objectives, strategies, core values, and more. 2. It asks the learner to match definitions to the correct terms, like matching that mission provides a destination for the organization, while vision is the guiding light for how to get there. 3. The document also includes essay questions about Porter's Five Forces model for analyzing industry competition, comparing and contrasting vision and mission statements, and the differences between strategy formulation and implementation.

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Iris Fenelle
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111 views1 page

Internal Environment Quiz

1. The document contains questions about key terms related to strategic management: mission, vision, goals, objectives, strategies, core values, and more. 2. It asks the learner to match definitions to the correct terms, like matching that mission provides a destination for the organization, while vision is the guiding light for how to get there. 3. The document also includes essay questions about Porter's Five Forces model for analyzing industry competition, comparing and contrasting vision and mission statements, and the differences between strategy formulation and implementation.

Uploaded by

Iris Fenelle
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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I.

Write the letter of the correct answer from the word bank (2 pts each)
a. Strategic Management f. Goals
b. Vision g. Objectives
c. Mission h. Action Plans
d. Core Values i. Demographic Factor
e. Strategies j. Social Factors

1. It provides a destination for the organization.


2. This is a guiding light of how to get to the destination
3. These are one or more ways to use the mission statement in order to achieve the vision
statement.
4. It is all about identification and description of the strategies that managers can carry so as
to achieve better performance and a competitive advantage for their organization.
5. These are general statements of what needs to be accomplished to implement a strategy.
6. These are an individual or organization's fundamental beliefs and highest priorities that
drive their behavior.
7. Our attitudes, values, ethics, and lifestyles—influence what, how, where, and when people
purchase products or services.
8.It helps companies define the markets for their products and also determine
the size and composition of the workforce.
9. These are statements of specific actions or activities that will be used to achieve a goal
within the constraints of the objective.
10. These are specific actions and timelines for achieving the goal.

II. Essay ( 30 pts.)


1. Explain Porter's Five Forces Model and its relevance in formulating strategies. For each
competitive force,
discuss one condition that is likely to increase the threat of that force.
2. Compare and contrast vision statements with mission statements.
Describe why a mission statement is so important in the strategic-management process.
3. Discuss the differences between strategy formulation and strategy
implementation.

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