[SM] Chapter 1: SM basic concepts

[SM] Chapter 1: SM basic concepts

University

27 Qs

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[SM] Chapter 1: SM basic concepts

[SM] Chapter 1: SM basic concepts

Assessment

Quiz

Education

University

Practice Problem

Medium

Created by

Nam Hoàng

Used 13+ times

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27 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not included in the strategic management model?

Measuring and evaluating performance.
Conducting internal research to identify customers.
Establishing long-term objectives.
Implementing strategies.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_____ is used to refer to activities that include building, implementing, and evaluating strategies, while _____ refers only to the building of strategies.

Strategic planning; Strategic management
Strategic planning; Strategic innovation
Strategic management; Strategic planning
Strategic management; Strategy execution

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Strategic management allows an organization to _____ rather than just react to threats in their business environment.

Be proactive
Determine when threats will diminish
Avoid threats
Predict the future

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The most significant factor affecting the nature and essence of buying and selling in most industries is:

The Internet.
Political borders.
Corporate greed.
Focus on customers and employees.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

During which stage of strategic management are a company’s specific internal strengths and weaknesses identified?

Planning
Implementation
Evaluation
Feedback

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which step in the strategy development process involves mobilizing employees and managers to put strategies into action?

Strategy formulation
Strategy evaluation
Strategy implementation
Strategic advantage

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Long-term objectives should be all of the following except:

Measurable
Constantly changing
Challenging
Appropriate

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