Strategic Management & Business Policy

5604 words 23 pages
Strategic Management & Business Policy, 12e (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
…show more content…

Answer: TRUE
Diff: 2 Page Ref: 25
Topic: Strategic Decision Making

30) Mintzberg's entrepreneurial mode is sometimes referred to as "muddling through" since this decision- making mode tends to be more reactive than proactive in the search for new opportunities.
Answer: FALSE
Diff: 3 Page Ref: 26
Topic: Strategic Decision Making

31) Logical incrementalism is a useful decision-making mode when the environment is rapidly changing and when it is important to build consensus.
Answer: TRUE
Diff: 3 Page Ref: 27
Topic: Strategic Decision Making
AACSB: Reflective Thinking

32) The strategic audit is an all-inclusive list of critical questions needed for a detailed strategic analysis of any business.
Answer: FALSE
Diff: 1 Page Ref: 28
Topic: The Strategic Audit: Aid to Strategic Decision-Making

33) The emphasis of strategic management is on
A) monitoring and evaluating external opportunities and threats in light of a corporation's strengths and weaknesses.
B) first line managers.
C) the short-run performance of the corporation.
D) an examination of the organization's internal environment.
E) an investigation of competitor actions.
Answer: A
Diff: 1 Page Ref: 5
Topic: The Study of Strategic Management

34) Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is
A) externally-oriented planning.
B) basic financial planning.


  • Strategic Human Resource Management (Shrm): a Paradigm Shift for Achieving Sustained Competitive Advantage in Organization
    7623 words | 31 pages
  • Autoliv Australia
    1321 words | 6 pages
  • Strategic Planning for a Health Care Facility
    3835 words | 16 pages
  • ATHE Level 6 Management Specification2
    12412 words | 50 pages
  • Midwest Education Case Study
    2716 words | 11 pages
  • Strategic Human Resources Management: a Review of the Literature and a Proposed Typology
    10837 words | 44 pages
  • Critically Assess Whether Strategic Hrm Leads to ‘High Performance’’
    2961 words | 12 pages
  • Natural Knibbles Case Study
    3022 words | 13 pages
  • MBA detail course outline
    1321 words | 6 pages
  • Royal Dutch Shell
    4112 words | 17 pages