Strategic Management

All of the following are external stakeholders except which of the following?

• Customers

• Creditors

• Alliance partners

• Competitors

Which of the following terms describes the guiding policy to address the competitive challenge, and uses corporate- and business-level strategy?

• Analysis

• Formulation

• Implementation

• Competitive advantage

Which of the following three important stakeholder attributes should managers pay special close attention to in order to better understand stakeholder impact analysis?

• Competitive advantage, economic value, and time

• Power, legitimacy, and urgency

• Grace under pressure, financial control, and reward power

• Shareholder rights plan, board representation and CEO influence

The goal of a good strategy is focused primarily on

• Creating superior value while containing costs

• Making as much money as possible

• Employing lean manufacturing and Six Sigma

• Encouraging investors to buy more shares of the firm

The AFI framework (analysis, formulation, implementation) affects a firm at nearly every level. Which of the following would be classified as the top level of strategy within a firm?

• The functional level

• The business level

• The operational level

• The corporate level

_____ is best described as an integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage.

• Supply chain management

• Strategic management

• Integrated technology management

• Inventory management

A successful strategy details a set of goal-directed actions that managers make to gain and sustain a competitive advantage; in order to create this strategy, managers must focus on three pillars. Which of the following below is not one of these pillars?

• Formulation

• Execution

• Implementation

• Analysis

_____ is best described as a set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors.

• Behavior modification

• Strategy

• Credo

• Competency management

In _____ a firm frames a guiding policy to address the competitive challenge.

• Strategy control

• Strategy implementation

• Strategy formulation

• Strategy analysis

Through _____, a firm puts its guiding policy into practice by employing a set of coherent actions.

• Strategy control

• Strategy implementation

• Strategy formulation

• Strategy analysis