20)
What is a strategic design for how a company intends to profit from its
strategies, work processes, and work activities?
A)
business model
B)
strategic model
C)
strategic management model
D)
competitive model

21)
Studies of the factors that contribute to organizational performance have shown
________ relationship between strategic planning and performance.
A)
no
B)
a mixed
C)
a negative
D)
a positive

22)
Why is strategic management important?
A)
It has little impact on organizational performance.
B)
It is involved in many of the decisions that managers make.
C)
Most organizations do not change.
D)
Organizations are composed of similar divisions and functions.

23)
The first ________ steps of the strategic management process describe the
planning that must take place.
A)
two
B)
three
C)
four
D)
five

24)
In the first step of strategic management, the mission of the firm answers the
question, ________
A)
What business should we be in?
B)
What is our reason for being in business?
C)
Who are our customers?
D)
Who are our creditors?

25)
What provides clues to what an organization sees as its purpose?
A)
the organization’s goals
B)
the organization’s strategies
C)
the organization’s business model
D)
the organization’s mission

26)
In the first step of strategic management, identifying the current strategies
and goals provides ________.
A)
a basis to determine if the goals need to be changed
B)
an understanding of what the competition is doing
C)
an idea of what trends and changes are occurring
D)
important information about an organization’s specific resources and
capabilities

27)
In analyzing the environment, managers should know ________.
A)
the competition’s stock price
B)
pending legislation that might affect the organization
C)
the organization’s purpose
D)
the goals currently in place and the strategies currently being used

28)
When an organization is analyzing its labor supply, it is studying its
________.
A)
organizational culture
B)
internal environment
C)
external environment
D)
organizational structure

29)
________ and ________ are outcomes from a study of the external environment.
A)
Threats; weaknesses
B)
Strengths; weaknesses
C)
Weights; measures
D)
Opportunities; threats