STR581 - Chapter 1 Quiz

Topics: Management, Strategic management, Strategy Pages: 3 (396 words) Published: September 29, 2013
1

Week 1 Chapter 1 QUIZ — STR/581
1. When the ABC Corporation makes decisions that assist in formulating and implementing plans that are designed to achieve its objectives, it is most likely engaging in strategic management
b. Strategy utilization
c. Strategic processing
d. Strategic formality
2. Of the following, which one is least likely to be considered a critical task associated with an organization's strategic management process?
a. Evaluation of the process for use in future decision-making b. Evaluation of options relative to the company's mission
0 Decreasing the levels of hierarchy present within the company's management structure d. Developing a set of short-term objectives that are compatible with the company's grand strategies 3. The We Have It Your Way Organization has an established "game plan" for its business operations. This game plan reflects the company's awareness of how and where it should compete and against whom the competition should take place. It can be stated this organization has an established a. Level of strategy

b. Formality
c. Planning mode
® Strategy
4. Of the following, which statement would most likely not be considered a dimension of strategic issues? a. Strategic issues require large amounts of the firm's resources (12) Strategic issues always impact the firm's long-term income. c. Strategic issues require the firm's external environment be considered. d. Strategic issues are future-oriented.

5. The decision-making hierarchy of a firm typically contains 3
b. 4
c. 2
d. Infinite

levels.

6. Which level of the decision-making hierarchy is best identified as being composed principally of business and corporate managers who must translate the statements of direction and intent into concrete objectives and strategies for the individual business units?

a. Corporate level
b. Strategic level
Business level
d. Functional level
7. An organization's board of directors and administrative officers are most likely...
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