Study guide exam 1
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
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