SHRM - S2 - Strategic Management

1)  Which function of the management process requires a manager to establish goals and standards and to develop rules and procedures?

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  A)  planning

• B)  organizing

• C)  staffing

• D)  leading

1)      In the management process, which of the following is an activity associated with the leading  function?

• A)  motivating subordinates

• B)  setting performance standards

• C)  training new employees

• D)  developing procedures

1)  A course of action that a firm can pursue to achieve its strategic aims is known as a    .

• A)  vision

• B)  goal

• C)  strategy

• D)  mission

1)   Which of the following provides a summary of a firm's intended direction and shows, in broad terms, "what we want to become"?

• A)  mission statement

• B)  strategic plan

• C)  vision statement

• D)  marketing plan

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1)Which of the following refers to any factors that allow a company to differentiate its product or service from those of its competitors to increase market share?

• A)functional strategy

• B)competitive advantage

• C)distinctive competency

• D)related diversification

1)      John wants his shoe store to adopt the strategy of having the lowest prices on shoes in town. John is adopting which competitive strategy?

• A)  focusers

• B)  differentiation

• C)  cost leadership

• D)  providing input to top management about industry trends .