Chapter 11

Ultimately, strategic leadership is the responsibility of the CEO and top management

• True
• False

Strategy evaluation has been described as the most important and most difficult part of the strategic management process

• True
• False

An example of an incremental change is a strategic redirection of an organization's vision and mission

• True
• False

The strategic management process consists of five key decision areas laid out in five steps; the first step is

• strategy execution.
• strategy formulation
• crafting a strategic vision and mission statement
• setting objectives

SWOT analysis includes all of the following EXCEPT

• senses.
• weaknesses.
• opportunities.
• threats.

External factors in a firm's strategic environment which have a potential negative impact are called ____.

• hindrances
• weaknesses.
• opportunities.
• threats.

The link between leadership and strategy is a new concept but quickly becoming accepted

• values statement
• mission statement
• code of ethics
• strategic vision

A _______ is an enduring statement of purpose that distinguishes one organization from other similar enterprises

• measurable.
• achievable.
• relevant.
• standard.

According to goal-setting theory, good goals must be all of the following EXCEPT

• strategic vision
• mission statement
• strategy
• core competence

The first step in the strategic management process is strategy formulation

• true
• False