Mg 495 Midterm Essay Example
MG-495 MIDTERM EXAMINATION
MG - 495 Business Policy Mid-Term Examination - (Chapters 1 - 5 are covered)
There are 25 multiple choice questions (each worth 3 points) and 5 short answer/essay questions (each worth 9 points) for a total of 120 possible points. All of the questions for this exam can be answered by simply using the text.
Multiple Choice Questions – Each question worth 3 points
1. Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is _____.
a. externally oriented planning
b. basic financial planning
c. internally oriented planning
d. forecast based planning
e. strategic management
2. One of the benefits of globalization is _____.
a. economies of scale
b. higher production costs
c. increased union negotiations
d. increased taxes
e. additional human resource training
3. The monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation is referred to as _____.
a. environmental scanning
b. external scanning
c. internal scanning
d. environmental opportunity scanning
e. intermediate scanning
4. To _____ is an example of a corporate strategy.
a. diversify a product line to appeal to more people
b. increase sales by 10% over last year
c. pay highest salaries to keep high quality employees
d. develop and sell quality appliances worldwide
e. divide a sales region into a group of sales districts
5. The strategic decision making process is an eight-step approach to decision-making and is most useful when operating in the _____.
a. adaptive mode
b. entrepreneurial mode
c. planning mode
d. incremental mode
e. a la mode
6. By law, a board of directors has a fiduciary responsibility to the firm's stockholders, and is charged to act with _____, and if a director or the board as a whole fails so act and the corporation is in some way harmed as a result of this failure, the
MG - 495 Business Policy Mid-Term Examination - (Chapters 1 - 5 are covered)
There are 25 multiple choice questions (each worth 3 points) and 5 short answer/essay questions (each worth 9 points) for a total of 120 possible points. All of the questions for this exam can be answered by simply using the text.
Multiple Choice Questions – Each question worth 3 points
1. Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is _____.
a. externally oriented planning
b. basic financial planning
c. internally oriented planning
d. forecast based planning
e. strategic management
2. One of the benefits of globalization is _____.
a. economies of scale
b. higher production costs
c. increased union negotiations
d. increased taxes
e. additional human resource training
3. The monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation is referred to as _____.
a. environmental scanning
b. external scanning
c. internal scanning
d. environmental opportunity scanning
e. intermediate scanning
4. To _____ is an example of a corporate strategy.
a. diversify a product line to appeal to more people
b. increase sales by 10% over last year
c. pay highest salaries to keep high quality employees
d. develop and sell quality appliances worldwide
e. divide a sales region into a group of sales districts
5. The strategic decision making process is an eight-step approach to decision-making and is most useful when operating in the _____.
a. adaptive mode
b. entrepreneurial mode
c. planning mode
d. incremental mode
e. a la mode
6. By law, a board of directors has a fiduciary responsibility to the firm's stockholders, and is charged to act with _____, and if a director or the board as a whole fails so act and the corporation is in some way harmed as a result of this failure, the