Strategic Management Quiz 1

Topics: Strategy, Strategic management, Strategic planning Pages: 4 (718 words) Published: October 27, 2014

CORRECT As defined in this course, a policy is
  
the purpose or reason for a corporation's existence.
 
  
a statement of activities or steps needed to accomplish a single use plan.  
  
a broad guideline for making decisions.
 
 
a comprehensive master plan stating how a corporation will achieve its mission and objectives.   
a statement of a corporation's programs in dollar terms.
 
 
IncorrectQuestion 2
0 / 0.5 pts
<div>Research done by Henry Mintzberg suggests that strategy formulation</div> <div></div> Research done by Henry Mintzberg suggests that strategy formulation   
is an irregular and a discontinuous process.
 
  
should be followed unswervingly to ensure success of the plan.  
  
is worthless.
 
  
should be reviewed after a specific interval of time to make sure it is still applicable.  
  
is merely a checklist of actions following a logical process.  
 
IncorrectQuestion 3
0 / 0.5 pts
<div>According to Mintzberg, the entrepreneurial mode of strategy formulation</div> <div></div> According to Mintzberg, the entrepreneurial mode of strategy formulation   
is characterized by reactive solutions to existing problems.  
  
assumes major responsibilities for strategy formulation.
 
  
is focused on opportunities seen by one person.
 
 
includes the proactive search for new opportunities and reactive solutions to existing problems.   
assumes the environment is unresponsive to input.
 
 
Question 4
0.5 / 0.5 pts
<div>Which of the following is an example of a mission?</div> <div></div> Which of the following is an example of a mission?
  
Diversify product line to appeal to more people.
 
  
Increase sales by 10% over last year.
 
  
Pay highest salaries to keep high quality employees.
 
  
Develop and sell quality appliances world-wide.
 
  
Divide a sales region into a group of sales districts.
 
 
IncorrectQuestion 5...
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