WorksheetsStrategic Management Quiz 1
Total questions: 10
Worksheet time: 5mins
An external analysis is the process of scanning and evaluating an organization's various external environmental sectors to determine positive and negative trends that could impact on organizational performance.
True
False
Threats are positive external environmental trends or changes that will help the organization improve its performance.
True
False
The specific environment includes such sectors as demographics, economics, and political/legal factors.
True
False
Buyers have bargaining power if the industry's product is not important to the quality of the buyers' products or services.
True
False
Substitute products can be found in the same industry
True
False
An external analysis enables the organization to examine opportunities and threats
True
False
Companies that use strategic management tend to have higher levels of performance.
True
False
Business strategies are concerned with the broad and more long-term choices of "what business(es) are we in or do we want to be in, and what do we want to do with these businesses?"
True
False
Strategy implementation is the process of evaluating how the strategy has been implemented, as well as the outcomes of the strategy.
True
False
A company's board of directors' legal obligation is to represent the shareholders and protect their interests.
True
False
