The Importance of Strategic Management
Chapter 8 Strategic Management
The Importance of Strategic Management
1. __________________ is the collection of managerial decisions and actions that determine the long-run performance of an organization.
a. Planning
b. Goal-oriented management
c. Strategic management
d. Leadership
(c)
2. Studies of the factors that contribute to organizational performance have shown _____________ relationship between strategic planning and performance.
a. no
b. a mixed
c. a negative
d. a positive
(d)
The Strategic Management Process
3. What provides clues to what an organization sees as its purpose?
a. the organization’s goals
b. the organization’s strategies
c. the organization’s business model
d. the organization’s mission
(d)
4. In analyzing the environment, managers should know ____________.
a. the competition’s stock price
b. pending legislation that might affect the organization
c. the organization’s purpose
d. the goals currently in place and the strategies currently being used
(b,p165)
5. When an organization is analyzing its labor supply, it is studying its ________________.
a. organizational culture
b. internal environment
c. external environment
d. organizational structure
(c)
6. ___________ and ___________ are outcomes from a study of the external environment.
a. Threats; weaknesses
b. Strengths; weaknesses
c. Weights; measures
d. Opportunities; threats
(d)
7. What are an organization’s financial, physical, human, and intangible assets that are used to develop, manufacture, and deliver products or services to its customers?
a. its resources
b. its capabilities
c. its opportunities
d. its core competencies
(a)
8. If a bank estimates the capabilities of its training and development department employees prior to implementing a new training program designed to change their method of providing customer service, it is completing what step in the strategic management process?
a. doing an external analysis
The Importance of Strategic Management
1. __________________ is the collection of managerial decisions and actions that determine the long-run performance of an organization.
a. Planning
b. Goal-oriented management
c. Strategic management
d. Leadership
(c)
2. Studies of the factors that contribute to organizational performance have shown _____________ relationship between strategic planning and performance.
a. no
b. a mixed
c. a negative
d. a positive
(d)
The Strategic Management Process
3. What provides clues to what an organization sees as its purpose?
a. the organization’s goals
b. the organization’s strategies
c. the organization’s business model
d. the organization’s mission
(d)
4. In analyzing the environment, managers should know ____________.
a. the competition’s stock price
b. pending legislation that might affect the organization
c. the organization’s purpose
d. the goals currently in place and the strategies currently being used
(b,p165)
5. When an organization is analyzing its labor supply, it is studying its ________________.
a. organizational culture
b. internal environment
c. external environment
d. organizational structure
(c)
6. ___________ and ___________ are outcomes from a study of the external environment.
a. Threats; weaknesses
b. Strengths; weaknesses
c. Weights; measures
d. Opportunities; threats
(d)
7. What are an organization’s financial, physical, human, and intangible assets that are used to develop, manufacture, and deliver products or services to its customers?
a. its resources
b. its capabilities
c. its opportunities
d. its core competencies
(a)
8. If a bank estimates the capabilities of its training and development department employees prior to implementing a new training program designed to change their method of providing customer service, it is completing what step in the strategic management process?
a. doing an external analysis