revision for test mgt 2693

STRATEGIC MANAGEMENT means drafting, _______ and evaluating

• satisfying

• navigating

• implementing

• exploring

_________ is the first stage of strategic management process which includes developing a vision and mission

• STRATEGY REPETITION

• STRATEGY EVALUATION

• STRATEGY FORMULATION

• STRATEGY IMPLEMENTATION

______________ includes developing a strategy-supportive culture, creating an organizational structure, redirecting marketing efforts, preparing budgets, developing and using information systems, devising tactics, and linking employee compensation to organizational performance

• STRATEGY REPETITION

• STRATEGY EVALUATION

• STRATEGY FORMULATION

• STRATEGY IMPLEMENTATION

_______________ view (RBV) states that a firm’s resources (such as skills, financial, human, and physical resources) are most important in getting and sustaining a company’s competitive advantage.

• Perspective view

• The resource-based

• industrial/Organizational view

• Reminder-based

_______________ view (RBV) explains that a firm’s performance is strongly influenced by its external environment.

• Perspective view

• The resource-based

• industrial/Organizational view

• Reminder-based

_________are assets that can be seen and quantified, such as production equipment, manufacturing or sales facilities, raw materials, and financial capital.

• Tangible resources

• Intangible

• Capabilities

• Capital

_________ refer to assets we cannot see or touch, such as the firm’s reputation, patents, organization’s culture, knowledge, technological know-how and copyrights.

• Tangible resources

• Intangible

• Capabilities

• Capital

Developing a _____ statement is often considered the first step in the strategic planning process.

• option

• decision

• mission

• vision

________ strategies are meant to be considered for the overall movement of the organization

• Company-level

• Corporate-level

• Business-level

• Functional-level

________ At this level, the organization has to look at its management, marketing, financial and operation divisions to assist in realizing the overall corporate-level strategy that has been decided.

• Company-level

• Corporate-level

• Business-level

• Functional-level