Organizations are generally guided by a business strategy that defines all of the following except

Strategic management is one decision that determines the short-term performance of a corporation.           

with externally oriented planning plans are developed by heavily involving the input of managers from lower levels 

general electric led the transition from strategic planning to strategic management during the 1980s 

one of the benefits of strategic management is a clearer sense of vision for the firm 

to be effective, strategic management must be a formal process 

globalization is the internationalization of markets and corporations 

as more industries become global, strategic management is becoming less important 

electronic commerce is the use of the internet to conduct business transactions 

one number of the European Union is Chile

the goal of NAFTA is complete integration with regard to trade 

chile may be part of NAFTA and Mercosur

the rise of the internet has not had much impact on the nature of competition 

knowledge is viewed a a source of competitive advantage 

population ecology is a theory that proposes organizations can and do adapt to change by imitating other successful organizations

with organizational learning theory, knowledge is used as a way to hedge a changing environment 

strategic flexibility is the ability to shift from one dominant strategy to another 

one tenet of the learning prganization is to maintain stability 

the internal environment includes the variables of opportunities and threats 

research indicated that a broad mission statement may be best in a turbulent environment 

an example of an objective is "increased profitability" while an example of a goal is "to increase the firm's profitability in 2008 by 15% over 2007" 

A strategy maximizes competitive advantage and minimizes competitive disadvantage. 

Objectives are the end result of planned activity.

Corporate strategy occurs at the business unit or product level.

A functional strategy may fit within the two overall categories of competitive or cooperative strategies.

A hierarchy is a group of strategy types by level in the organization.

A budget is a statement of a corporation’s programs in terms of dollars.

Performance is evaluated at the strategy formulation phase of the strategic management process.

Henry Mintzberg discovered that strategic formulation is a regular, continuous process.

Punctuated equilibrium describes organizations as evolving through relatively long periods of stability punctuated by relatively short bursts of fundamental change.

A strategic decision is rare, consequential, and directive.           

The entrepreneurial mode is sometimes referred to as “muddling through” since this decision- making mode tends to be more reactive than proactive in the search for new opportunities.             

Logical incrementalism is a useful decision-making mode when the environment is rapidly changing and when it is important to build consensus.

The strategic audit is an all-inclusive list of critical questions needed for a detailed strategic analysis of any business.

scanning the external environment

Strategic management differs from business policy through its heavier emphasis on                                        

is an integrative orientation from the organization's perspective

In contrast to strategic management, the primary focus of business policy                                                          

Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is

the time horizon involved with regard to basic financial planning is usually

the time horizon with each phase and forcast-based planning incorporates internal and external information 

The difference between basic financial planning and forecast-based planning is 

externally- oriented planning

Top-down planning that emphasizes formal strategy formulation and leaves the implementation issues to lower management levels is known as

people throughout the organization

Under the phase of strategic management, strategic information is available to

higher levels of job satisfaction

In a survey of 50 corporations, all of the following were rated as benefits of strategic management EXCE            

How can functional and operational areas be improved?

When an organization is evaluating its strategic position, which is NOT one of the strategic questions that an organization must ask itself?

in the strategic thinking an organizational learning

Research of the planning practices of companies in the oil industry concludes that the real value of modern strategic planning is more

may be informal and irregular

strategic planning within a small organization

should be a formalized and sophisticated system

strategic planning in a multidivisional corporation 

the internationalization of markets and corporations is called 

one of the benefits of globalization is 

may be informal and irregular

strategic planning within a small organization

should be a formalized and sophisticated system

strategic planning in a multidivisional corporation 

the regional trade association composed of Argentina, Brazil, Uruguay and Paraguay is called 

Members of the European Union include 

one of the countries to become a member of the European union by 2007

Canada, the United States, and Mexico are affiliated with the trade alliance

NAFTA was launched during the year                                                                                                                         

In order to qualify for duty-free status, goods sold in the NAFTA trade alliance must have _____ North American content.

The currency of the European Union (EU) is called the

One country being considered for NAFTA membership and Mercosur affiliation is

Mercosur is referred to as _____ in Portuguese.

One country that has been extended a free-trade agreement by Mercosur is

All of the following reflect trends due to the rise of the Internet EXCEPT                                                             

__________ theory proposes that once an organization is successfully established in a particular environmental niche, it is unable to adapt to changing conditions.

The theory that proposes organizations can and do adapt to changing conditions by imitating other successful organizations is known as

The ability of an organization to reshape its environment is described by _____ theory.

_____ theory proposes an established organization can suffer from inertia.

Creating, acquiring, and transferring knowledge are characteristics of a(n) _____ organization.                     

The ability of a corporation to shift from one dominant strategy to another is called

An organization skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior to reflect new knowledge and insights is a(an)

alienating competitors in the industry

All of the following reflect activities of a learning organization EXCEPT

high-tech industries are defined by “paths of learning.”

companies spring from an individual entrepreneur’s knowledge, which then evolves into organizational knowledge.

Once a corporation has built its learning base to the point where it has become a core company in its industry, entrepreneurial start-ups are rarely able to successfully enter.

according to alfred chandler

statistical process control

Strategic management is that set of managerial decisions and actions that determine the longrun performance of a corporation. Which one of the following is NOT included in the strategic management process?

The monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation is referred to as

The variables structure, culture, and resources pertain to the _____ environment.                                             

mission objectives strategies policies 

The Strategic Management Model presents the following process of strategy formulation

programs,budgets and procedures

Strategy Implementation in the Strategic Management Model occurs in the following order:

includes those elements or groups within an organization's industry.

The development of long-range plans for the effective management of environmental opportunities and threats is known as

Which one of the following is included in the firm's societal environment?

Which one of the following is included in the firm's task environment?

Which one of the following is included in the firm's internal environment?

The purpose or reason for the corporation's existence.

The corporate mission is best described by which one of the following?

computers (vs office equipment)

Which one of the following is an example of a narrow scope?

should set the organization apart from its competitors.

The organization's corporate mission statement

Develop and sell quality appliances worldwide.

Which of the following is an example of a mission?

A goal differs from an objective because it

raise ROI by 10% next year

Which one of the following is an example of an objective?

Increase sales by 10% over last year.

Which of the following is an example of an objective?

Diversify product line to appeal to more people.

Which of the following is an example of a corporate strategy?

The type of strategy which describes a company's overall direction in terms of its general attitude toward growth and the management of its various businesses and product lines is                                                                                                     

The type of strategy which emphasizes the improvement of the competitive position of a corporation's products or services in a particular industry or market segment served by a business unit is

The type of strategy which achieves corporate and business unit objectives and strategies by emphasizing resource productivity is

corporate business functional

A large, multidivisional business has three levels in its hierarchy of strategy:

a broad guideline for making decisions that links the formulation of strategy with its implementation.

As defined in this course, a policy is

Pay highest salaries to keep high quality employees.

Which of the following is an example of a policy?

The process by which strategies and policies are put into action through the development of programs, budgets, and procedures is

Which of the following is NOT a part of strategy implementation?

Reduce final assembly time to three days by having suppliers build plan sections.

Which of the following is an example of a program?                                                                                                 

A statement of the activities needed to accomplish a single-use plan.

Only one budget is necessary for all programs.

A budget is a statement of a corporation's programs in dollar terms. Which is NOT true of the budgetary function?

A return on investment is sometimes referred to as

is the primary concern of top management

As a part of the strategic management process, evaluation and  control is concerned with all of the following, EXCEPT

a standard operating procedure.

A set of sequential steps or techniques that describe in detail how a particular task or job is to be done is referred to as

The end result of activities is known as                                                                                                                         

profits return on investments revenues return on assets

performance is measured by

is typically an irregular and a discontinuous process.

Research done by Henry Mintzberg suggests that strategy formulation

The phenomenon that describes corporations as evolving through relatively long periods of stability punctuated by relatively short bursts of fundamental change is known as

annual strategic planning conference

Which of the following is NOT one the four triggering events listed in the text that are the stimulus for a strategic change?       

should cause management to question their objectives, strategies, and policies.

The existence of a performance gap

directive

        consequential

                rare

Which of the following are characteristics of strategic decisions as mentioned in the text?

Strategic decisions which set precedents for lesser decisions and future actions throughout the organization are referred to as

Strategic decisions which are unusual and typically have no precedent to follow are referred to as

Strategic decisions which commit substantial resources and demand a great deal of commitment from people at all levels is referred to as               

is focused on opportunities seen by one person. 

According to Mintzberg, the entrepreneurial mode of strategy formulation

a.                  entrepreneurial, adaptive, and planning

According to Henry Mintzberg, the three most typical approaches to strategic decision-making are               

Amazon.com, founded by Jeff Bezos and reflecting his vision, is an example of which mode of strategic decision-making?                                                                   

Involves the systematic gathering of appropriate information for situation analysis, the generation of feasible alternative strategies, and the rational selection of the most appropriate strategy. 

What characterizes the planning mode of strategy formulation?

IBM under CEO Louis Gerstner and his strategic decision to invest in services in 1993, is an example of which mode of strategic decision-making?

The mode of strategic decision-making typical of most universities, many large hospitals, a large number of governmental agencies, and a surprising number of large corporations is

The mode of strategy formulation used when top management has a reasonably clear idea of the corporation's mission and objectives, but it chooses to develop a series of tentative or partial strategies instead of developing fullblown strategies is called        

Which approach to decision-making is most useful when the environment is changing rapidly and when it is important to build consensus and develop needed resources before committing the entire corporation to a specific strategy?

The strategic decision making process is an eight-step approach to decision-making and is most useful when operating in the

A checklist of questions, by area or issue that enables a systematic analysis to be made of various corporate functions and activities is referred to as a/an                                                             

Which of the following is not one of the elements of a good strategy as proposed by Donald Hambrick and James Frederickson?         

1.      clearer sense of strategic vision for the organization

2.      sharper focus on what is strategically important

3.      improved understanding of a rapidly changing environment.

What are the benefits of strategic management?

the internationalization of markets and corporations.  It has changed the way that modern corporations do business.  As more industries become global, strategic management is becoming an increasingly important way to keep track of international developments and position the company for long-term competitive advantage.

1.      The Internet is forcing companies to transform themselves.

2.      New channels are changing market access and branding, causing the disintermediation of traditional distribution channels.

3.      The balance of power is shifting to the consumer.

4.      Competition is changing.

5.      The pace of business is increasing drastically.

6.      The Internet is pushing corporations out of their traditional boundaries.

7.      Knowledge is becoming a key asset and a source of competitive advantage.

What world-wide trends are caused or accelerated by the Internet?

The four main activities of a learning organization are solving problems systematically, experimenting with new approaches, learning from their own experiences and past history as well as from the experiences of others, and transferring knowledge quickly and efficiently throughout the organization.

What are the four main activities of a learning organization?

A triggering event is something that acts as a stimulus for a change in strategy.  Some possible triggering events are a new CEO, an external intervention, a threat of a change in ownership, a performance gap, and a strategic inflection point.

What is a triggering event?

Which of the following is the definition of business strategy?

What are the three strategies?

Which one of the following is not a part of the strategic management process?

Which one of the following is not a characteristic of strategic decisions?