Chapter 9

Chapter 9

University

20 Qs

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Chapter 9

Chapter 9

Assessment

Quiz

Other

University

Practice Problem

Hard

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes a strategy?

A short-term goal

A detailed plan for daily operations

A plan of action designed to achieve long-term or overall goals

A routine procedure

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a business model?

A plan for marketing products

A blueprint for how a company plans to make money and sustain operations

A design for product development

A report on business performance

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Strategic management involves which of the following?

Hiring employees

The process of formulating, implementing, and evaluating decisions to achieve organizational objectives

Managing daily operational activities

Creating short-term financial plans

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A mission statement is best described as:

A description of a company’s future goals

A detailed business plan

A brief description of a company’s purpose and objectives

A document outlining market strategies

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following describes a company’s vision?

Its daily activities

A long-term goal describing what the company wants to become

A summary of past achievements

A list of current financial objectives

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a SWOT analysis used for?

Identifying new products

Measuring sales growth

Identifying strengths, weaknesses, opportunities, and threats in an organization

Monitoring employee performance

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A competitive advantage is:

A unique feature that allows a company to outperform its competitors

The ability to lower product prices

A temporary edge over competitors

A result of increased advertising

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