STRATMAN PRELIM QUIZ

It is a strategy that describes a company's overall direction in terms of it's general attitude toward growth and the management of its various business and product lines.

• Corporate strategy

• Business strategy

• Functional strategy

• Strategy implementation

This strategy usually occurs at the business unit or product level, and it emphasizes improvement of the competitive position of a corporation's product or services.

• Corporate strategy

• Business strategy

• Functional strategy

• Strategy implementation

It is the approach taken by a functional area to achieve corporate and business unit objectives and strategies by maximizing resources productivity.

• Corporate strategy

• Business strategy

• Functional strategy

• Strategy implementation

This type of companies includes firms with fairly broad product lines that focus on product innovation and make opportunities.

• Analyzers

• Prospectors

• Defenders

• Guerilla attack

It is an approach to strategic decision making which can be viewed as a synthesis of the planning mode adoptive to a lesser extent.

• Entrepreneurial mode

• Adaptive mode

• Planning mode

• Logical incrementalism

The following are benefits of strategic management except.

• Clearer sense of strategic vision for the firm

• It gives the actual outcomes of the strategic management process

• Sharper focus on what is strategically important

• Improved understanding of a rapidly changing environment

These responsibilities of business are the purely voluntary obligations a corporation assumes.

• Economic Responsibility

• Legal Responsibility

• Ethical Responsibility

• Discretionary Responsibility

This is a responsibility of a business organization's management to produce goods and services of value to society so that the firm can repay its creditors and shareholders.

• Economic Responsibility

• Legal Responsibility

• Ethical Responsibility

• Discretionary Responsibility

This is a responsibility of an organization's management to follow the generally held benefits about behavior in a society.

• Economic Responsibility

• Legal Responsibility

• Ethical Responsibility

• Discretionary Responsibility

It is the process in which corporate activities and performance results are monitored so that the actual performance can be compared with desired performance.

• Strategy formulation

• Strategy implementation

• Environmental Scanning

• Evaluation and control