STRATEGIC MANAGEMENT-Q1
Authored by Christine Quiña
Education
12th Grade
Used 7+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary goal of strategic management?
A) To create a mission statement
B) To outperform competitors
C) To develop long-term objectives
D) To integrate management functions
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which stage of the strategic-management process involves developing a vision and mission statement?
A) Strategy formulation
B) Strategy implementation
D) Strategy development
C) Strategy evaluation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What term is used synonymously with strategic management in the business world?
A) Strategic evaluation
B) Long-range planning
C) Strategic planning
D) Operational management
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a competitive advantage?
A) A firm’s unique ability to do something better than competitors
B) The creation of long-term objectives
C) The establishment of a vision and mission statement
D) The process of evaluating internal strengths and weaknesses
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who are strategists in the context of strategic management?
A) Marketing managers
B) Individuals responsible for the success or failure of an organization
C) Operational staff
D) Financial analysts
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The later term is more often used in the business world, whereas is often used in academia.
TRUE
FALSE
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Strategic management focuses only on integrating management.
TRUE
FALSE
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