Study guide exam 1

Topics: Strategic management, Natural environment, Ecology Pages: 4 (597 words) Published: September 30, 2013
Man 4720 – Chapters 1, 2 & 3 – 60 QUESTIONS

Below are the major areas you need to focus on. THESE ARE NOT THE QUESTIONS – JUST THE AREAS THAT YOU NEED TO KNOW IN

ORDER TO DO THE EXAM. YOU MUST READ THE TEXT ALONG WITH YOUR NOTES TO ENSURE THAT YOU UNDERSTAND THE

CONCEPTS PRESENTED IN THESE AREAS.

Strategic Management & Business policy

Strategic Management process – know each of the components – several questions will be asked about each.

Evolution of strategic management

Impact of Globalization and regional trade associations & agreements – eg. NAFTA, EU, etc.- review pgs 8 & 9

Theories of adaptation

Learning organization

External environment – societal and task environment – know the variables in each Internal environment – know the variables

Mission, vision, objective

Types of strategy – know each

Corporate governance – know about the responsibilities of each party

Board of directors - different kinds of directors

Board Involvement

Agency theory, stewardship, codetermination

Corporate responsibility – know the different theories

Ethics, morality, law, justice

Approaches to ethical behavior- know about each type

Strategic Management & Business Policy, 13e (Wheelen/Hunger) Chapter 1 Basic Concepts in Strategic Management

1) Strategic management is one decision that determines the short-term performance of a corporation.
Answer: FALSE
Diff: 1 Page Ref: 5
Topic: The Study of Strategic Management

2) In the externally oriented planning phase, plans are developed by heavily involving the input of managers from lower levels.
Answer: FALSE
Diff: 2 Page Ref: 5
Topic: The Study of Strategic Management

3) General Electric led the transition from strategic planning to strategic management during the 1980s.
Answer: TRUE
Diff: 1 Page Ref: 6
Topic: The Study of Strategic Management

4) One of the benefits of strategic management is a clearer sense of vision for...
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