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Strategic Management
Strategic Management: Concepts and Cases, 13e (David) Chapter 1 The Nature of Strategic Management 1) Strategic management focuses on integrating management, marketing, finance/accounting, production/operations, research and development, and information systems to achieve organizational success. Answer: TRUE Diff: 1 Page Ref: 6 Topic: Introduction Objective: 1.01 Describe the strategic-management process. 2) Optimizing for tomorrow the trends of today is the purpose of strategic management. Answer: FALSE Diff: 1 Page Ref: 6 Topic: What Is Strategic Management? Objective: 1.01 Describe the strategic-management process. 3) Even though useful, strategic planning has been cast aside by corporate America since the early 1990s. Answer: FALSE Diff: 2 Page Ref: 6 Objective: 1.01 Describe the strategic-management process. 4) Resource allocation is included in strategy-formulation activities. Answer: TRUE Diff: 2 Page Ref: 6 Topic: What Is Strategic Management? Objective: 1.01 Describe the strategic-management process. 5) The terms strategic management and strategic planning are synonymous in this text. Answer: TRUE Diff: 1 Page Ref: 6 Topic: What Is Strategic Management? Objective: 1.01 Describe the strategic-management process. 6) A vision statement is, in essence, a company 's game plan. Answer: FALSE Diff: 1 Page Ref: 11 Topic: What Is Strategic Management? Objective: 1.03 Define and give examples of key terms in strategic management.

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7) Strategy implementation is often considered to be the most difficult stage in the strategicmanagement process because it requires personal discipline, commitment, and sacrifice. Answer: TRUE Diff: 3 Page Ref: 7 Topic: What Is Strategic Management? Objective: 1.04 Describe the nature of strategy formulation, implementation, and evaluation activities. 8) The final stage in strategic management is strategy implementation. Answer: FALSE Diff: 2 Page Ref: 7 Topic: What Is Strategic
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