Mgt 498 Final Exams

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1. Which of the following is not a part of a firm's external environment? 2. To a large extent, attitudes at the corporate level reflect the concerns of 3. The ideal strategic management team includes decision makers from 4. Which of the following is a major function of the strategic management model? 5. Which of the following is a generic strategy option? 6. Horizontal integration is an example of a 7. Strategic decisions ostensibly commit the firm for 8. Three organizational elements providing fundamental, long-term means for institutionalizing a firm's strategy are: 9. Forces and conditions that originate beyond and usually irrespective of any single firm's immediate operating environment and that provide the general economic, political, social, and technological framework within which competing organizations operate are called the: 10. The results which an organization seeks over a multi-year period are its: 11. The general plan of major actions through which a firm intends to achieve its long-term objectives is called its: 12. Functional managers are typically responsible for which of the following? 13. The doubling of EPS (earnings per share) within five years with increases in each intervening year is called a(n): 14. Which of the following is not an economic goal that guides the strategic direction of almost every business organization? 15. Which of the following is not a principal reason why managers should be concerned about the socially responsible behavior of their firms? 16. Which of the following is a broad trend driving businesses to adopt CSR frameworks? 17. One factor of continued success is the extent to which a firm can relate functionally to the external environment. To accomplish this the firm must have: 18. The mission attempts to 19. The mission reflects the: 20. Which of the following is indispensable to the mission? 21. The need to invest large financial resources in order to compete creates 22. The external environment can be divided into various subcategories: 23. Three factors are mentioned which affect a firm's access to needed personnel. One of these factors is: 24. A valuable result of task environment analysis with respect to geographic, demographic, psychographic and buyer-behavior factors is called: 25. Business is now being held responsible for:

26. When we consider the level of disposable income, we are normally considering: 27. According to Michael Porter's Model, the level of competition within an industry depends on how many basic forces? 28. Economies of scale in an industry refers to: 29. Perceived differentiation results from: 30. An expiration of a major industry patent would: 31. A company can improve its strategic posture by: 32. A buyer group is powerful if: 33. Which of the following is a causal model of forecasting? 34. Which forecasting method helps prepare strategic managers for alternative possibilities? 35. Linear, exponential, and S-curve type projections are derived from: 36. The model most applicable when historical data are not available or when they are hard to use is: 37. The major function of the strategic manager is dealing with: 38. Delphi is a(n): 39. Which of the following is a causal forecasting approach? 40. The model which assumes that the future will be a continuation of the past following some longrange trend is: 41. Internal analysis of the firm is characterized by: 42. The identification and evaluation of strategic internal factors are: 43. In the evaluation of strategic internal factors, strategists should use: 44. To develop or revise a strategy, managers seek to identify the key factors on which success will most likely depend. The internal factors most likely to be associated with success will vary by: 45. Brand name is an example of: 46. Which of the following is not a "support" activity associated with the value chain approach? 47. Which of the following are intended to provide benchmarks for the evaluation of the company's progress in achieving its aim? 48. Which of the following does not describe a good objective? 49. A differentiation strategy is characterized by: 50. Under changing conditions, concentrated growth is characterized as: 51. If a shirt manufacturer acquires a textile manufacturer, this strategy is called: 52. __________________are partnerships that exist for a defined period during which partners contribute their skills and expertise to a cooperative project. 53. Which of the following qualities of an objective improves its chances of being attained? 54. When a firm attempts to persuade its creditors to temporarily freeze their claims while it undertakes to reorganize and rebuild its operations more profitably, this form of bankruptcy is called: 55. Occasionally two or more capable companies lack a necessary component for success in a particular competitive environment. The optimal strategy in such a case would be: 56. When diversification involves additions of a business to the firm in terms of technology, markets, or products, it involves: 57. Specific options under the concentration grand strategy include which of the following? 58. Specific approaches to the grand strategy of market development include which of the following? 59. Creating a new product life cycle is the underlying philosophy of a grand strategy of:

60. According to researchers, the grand strategies of retrenchment/turnaround are most often accomplished in extreme circumstances through which of the following?

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