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SET#1 QUESTIONS
1. (p. 3) Which of the following is an element of a firm's remote external environment?
A. Competition
B. Suppliers
C. Government agencies
D. Economic and social conditions
Difficulty: Easy
Learning Objective: 1
2. (p. 3) Which of the following is NOT a part of a firm's immediate external environment?
A. Technological development
B. Competitors
C. Suppliers
D. Government agencies
Difficulty: Easy
Learning Objective: 1
3. (p. 3) The immediate external environment includes:
A. Competitors
B. S. B. U. s
C. Divisions
D. Management
Difficulty: Easy
Learning Objective: 1
4. (p. 3) The _______ comprises economic and social conditions, political priorities and technological developments, all of which must be anticipated, monitored, assessed and incorporated into the executive's decision making.
A. Remote external environment
B. Task environment
C. Operating environment
D. Internal environment
Difficulty: Easy
Learning Objective: 1
5. (p. 3) The set of decisions and actions resulting in the formulation and implementation of plans designed to achieve a company's objectives is defined as:
A. Strategic policy
B. Business policy
C. Strategic management
D. Tactics
Difficulty: Medium
Learning Objective: 2
6. (p. 3) Strategic management compromises nine critical tasks. Which of the following is NOT one of the tasks?
A. Development of annual objectives compatible with grand strategies
B. Assessment of the company's external environment
C. Selection of a particular set of long-term objectives and grand strategies
D. Evaluate the success of the strategic process
Difficulty: Medium
Learning Objective: 2
7. (p. 4) Strategic management involves the _____, directing, _____ and controlling of a company's strategy-related decisions and actions.
A. Financing; marketing
B. Planning; financing
C. Marketing; planning
D. Planning; organizing
Difficulty: Medium
Learning Objective: 2
8. (p.4) Large-scale, future-oriented plans, for interacting with the competitive environment to achieve company objectives refers to its
A. Strategy
B. Goals
C. Competitive analysis
D. Dynamic policies
Difficulty: Easy
Learning Objective: 2
9. (p. 4) A strategy is a company's
A. Game plan
B. Pricing policy
C. Value statement
D. Long-term objective
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