Strategic Management Midterm Exam

To be the best technical skill education that offers a quality training for students.

• Mission

• Vision

• Goals

• Objectives

Provides a destination for the organization.

• Goal

• Objective

• Mission

• Vision

It refers to the guiding light of the organization in order to get to the destination.

• Goal

• Objectives

• Mission

• Vision

The purpose of Strategic Management is to exploit and create new and different opportunities for tomorrow from long range planning, in contrast, tries to optimize for tomorrow the trends of today.

• True

• False

• I don't know

Vision, Mission, Internal audit and External audit are under:

• Strategy Evaluation

• Strategy Implementation

• Strategy Formulation

• None of the above

• All of the above

It includes the establishment of annual objectives, devise policies, motivate employees, and allocate resources.

• Strategy Evaluation

• Strategy Implementation

• Strategy Formulation

• None of the above

• All of the above

It includes reviewing external and internal factors that are the bases for current strategies, measuring performance and taking corrective actions.

• Strategy Evaluation

• Strategy Implementation

• Strategy Formulation

• None of the above

• All of the above

Strategy provides a cooperative, integrated, and enthusiastic approach to tackling problems and opportunities.

• True

• False

• I don't know

The code of business ethics can provide a basis on which policies can be devised to guide daily behavior and decisions at the work site.

• True

• False

• I don't know

Effective Strategic Management emphasize that the process should not be totally predictable, and setting must be changed to stimulate creativity.

• True

• False

• I don't know