Question 1

A strategy is a company's

Accepted Answer

A)  Game plan
B)  Pricing policy
C)  Value statement
D)  Long-term objectiveE) A) and B)
F) A) and C)

Question 2

Which level of strategy is at the bottom of the decision-making hierarchy?

Accepted Answer

A)  Corporate
B)  Business
C)  Functional
D)  StrategicE) None of the above
F) A) and B)

Question 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:

Accepted Answer

A)  Strategic policy
B)  Business policy
C)  Strategic management
D)  TacticsE) All of the above
F) B) and D)

Question 4

Which level of strategy is in the middle of the decision-making hierarchy?

Accepted Answer

A)  Corporate
B)  Functional
C)  Business
D)  StrategicE) A) and C)
F) B) and C)

Question 5

According to Henry Mintzberg,very large firms typically use the _____ mode of strategic management.

Accepted Answer

A)  Adaptive
B)  Entrepreneurial
C)  Informal
D)  PlanningE) A) and B)
F) A) and C)

Question 6

Which level of strategy uses a portfolio approach?

Accepted Answer

A)  Business
B)  Operational
C)  Corporate
D)  FunctionalE) B) and C)
F) A) and D)

Question 7

According to Mintzberg,the adaptive mode refers to

Accepted Answer

A)  Strategic formality associated with the large firms that operate under a comprehensive,formal planning system
B)  Strategic formality associated with medium-sized firms that emphasize the incremental modification of existing competitive approaches
C)  Strategic formality associated with global firms that emphasize cultural value systems
D)  Informal,intuitive and limited approach to strategic management with owner-manager of smaller firmsE) A) and B)
F) A) and C)

Question 8

Henry Mintzberg identified a mode which he associates with medium-sized firms in relatively stable environments.This is referred to as a(n) ____ mode.

Accepted Answer

A)  Entrepreneurial
B)  Adaptive
C)  Business
D)  PlanningE) A) and B)
F) A) and C)

Question 9

Which of the following is an example of a grand strategy?

Accepted Answer

A)  Decentralization
B)  Policy making
C)  Conglomerate integration
D)  InnovationE) A) and D)
F) B) and D)

Question 10

Dividend policies are decided at the

Accepted Answer

A)  Corporate level
B)  Business level
C)  Functional level
D)  Operational levelE) All of the above
F) None of the above

Question 11

Strategic decisions ostensibly commit the firm for

Accepted Answer

A)  1-2 years
B)  The short term
C)  3-4 years
D)  A long time,typically five yearsE) None of the above
F) B) and D)

Question 12

Decisions concerning plant location,distribution channels,geographic coverage and market segmentation are typically made at:

Accepted Answer

A)  The corporate level
B)  The business level
C)  The functional level
D)  The front-line operational levelE) A) and D)
F) B) and C)

Question 13

Corporate-level decisions are characterized by:

Accepted Answer

A)  Decreased risk
B)  Doing things right
C)  Short-time horizons
D)  Greater profitE) B) and D)
F) All of the above

Question 14

The general plan of major actions through which a firm intends to achieve is long-term objectives is called its:

Accepted Answer

A)  Corporate plan
B)  Long-term goal
C)  Grand strategy
D)  MissionE) B) and C)
F) A) and B)

Question 15

Horizontal integration is an example of a

Accepted Answer

A)  Generic strategy
B)  Grand strategy
C)  Functional level strategy
D)  SBU strategyE) C) and D)
F) A) and B)

Question 16

Grand strategies include:

Accepted Answer

A)  Market turnaround
B)  Vertical diversification
C)  Conglomerate integration
D)  Concentric diversificationE) A) and D)
F) None of the above

Question 17

_____ is a critical stage in strategy implementation wherein managers attempt to recast their organization.

Accepted Answer

A)  Continuous improvement
B)  Reengineering
C)  Strategic control
D)  Strategy formulationE) A) and B)
F) A) and C)

Question 18

Which strategic level is typically responsible for developing annual objectives and short-term strategies?

Accepted Answer

A)  Functional level
B)  Corporate level
C)  Business level
D)  Board of Directors levelE) A) and B)
F) None of the above

Question 19

Broad,precedent-setting decisions that guide or substitute for repetitive or time-sensitive managerial decision making are called

Accepted Answer

A)  Goals
B)  Strategies
C)  Objectives
D)  PoliciesE) A) and D)
F) A) and C)

Question 20

Which of the following is NOT a level in the decision-making hierarchy of a firm?

Accepted Answer

A)  Business
B)  Corporate
C)  Operative
D)  FunctionalE) C) and D)
F) A) and B)

Exam 1: Strategic Management

Broad,precedent-setting decisions that guide or substitute for repetitive or time-sensitive managerial decision making are called

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Which of the following is an example of a grand strategy?

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According to Mintzberg,the adaptive mode refers to

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Dividend policies are decided at the

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Which level of strategy is in the middle of the decision-making hierarchy?

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Grand strategies include:

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Corporate-level decisions are characterized by:

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The general plan of major actions through which a firm intends to achieve is long-term objectives is called its:

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A strategy is a company's

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The set of decisions and actions resulting in the formulation and implementation of plans designed to achieve a company's objectives is defined as:

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Which level of strategy uses a portfolio approach?

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Which level of strategy is at the bottom of the decision-making hierarchy?

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Strategic decisions ostensibly commit the firm for

Correct AnswerverifiedShow Answer

_____ is a critical stage in strategy implementation wherein managers attempt to recast their organization.

Correct AnswerverifiedShow Answer

Henry Mintzberg identified a mode which he associates with medium-sized firms in relatively stable environments.This is referred to as a(n) ____ mode.

Correct AnswerverifiedShow Answer

According to Henry Mintzberg,very large firms typically use the _____ mode of strategic management.

Correct AnswerverifiedShow Answer

Which strategic level is typically responsible for developing annual objectives and short-term strategies?

Correct AnswerverifiedShow Answer

Decisions concerning plant location,distribution channels,geographic coverage and market segmentation are typically made at:

Correct AnswerverifiedShow Answer

Which of the following is NOT a level in the decision-making hierarchy of a firm?

Correct AnswerverifiedShow Answer

Horizontal integration is an example of a

Correct AnswerverifiedShow Answer

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