Study Guide: Strategic Management

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Study Guide – Test 1 – Chapters 1-4

Test one will consist of 40 multiple choice questions and 6 of 8 essay questions. Each MC question will be worth 2 points. Each essay question will be worth 5 points. This results in a possible score of 110 points and is a built in 10 point curve. Your final course average will be calculated using 100 points for test 1, but you can get up to 10 bonus points for this test. Report to (TBA) to take the test at your appointed class time. You may bring your Ipod/MP3 players to listen to music during the test if you like.

You should be familiar with the following terms/concepts:

1. The steps of the strategic management process

2. The key attributes of strategic management

3. Stakeholder management

4. Hierarchy of organizational goals

5. The importance of mission, vision and values

6. The criteria of effective strategic objectives

7. The key inputs to forecasting in the strategic context

8. The measures included in the 6 categories of the general environment

9. The Porterian five forces model

10. Strategic grouping analysis: especially, its value as an tool to analyze the external environment

11. Value chain analysis: especially, the factors that lead to intense rivalry “in the box”

12. Resource based view: especially, the attributes necessary for a sustainable competitive advantage

13. The categories of financial ratios and specific examples within each categories

14. The balanced scorecard approach

15. The attributes of human and social capital
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