Strategic Management Capstone Final Exam
What is the range for a firm's total weighted score in a Competitive Profile Matrix (CPM)?
1 to 4
What is the range for a firm's total weighted score in an External Factor Evaluation Matrix?
1 to 4
Strategic management focuses on integrating management, ________, and information systems to achieve organizational success.
All of these
The GDP of the USA is currently
Approximately $25 trillion
Which of the following is NOT a characteristic that describes the most competitive companies in America?
Divestiture is essential to growth.
Regardless of the number of key opportunities and threats included in an External Factor Evaluation Matrix, the highest possible total weighted score for an organization is 4.0, and the lowest possible total weighted score is 0.0.
False
In the video "Introduction to Strategy" by Dr. Kryscynski, what company was used as an example of good strategy?
Ikea furniture
According to I/O theorists, which of the following contributes LEAST to firm's performance?
Internal resources
How many types of economists are there?
Many types - some focusing on types of industries
What are the means by which long-term objectives will be achieved?
Strategies
What step in the strategic management process involves mobilizing employees and managers to put strategies into action?
Strategy implementation
The which of the following is true statement about populations?
The third largest nation in population is the USA
In general, what happens to American goods in overseas markets when there is a strong dollar?
They are more expensive.
Coca-Cola experienced a decline in revenues and cash assets in 2017. Is this a true of false statement?
True
An organization's vision statement
answers the question: "What do we want to become?"
A ________ integration strategy is used by firms to gain control or ownership of suppliers.
backward
For US companies involved in exports, when the dollar is devalued it means
exported products are cheaper for other countries
The United States' population is
getting older and less white.
The price of Coca-Cola stock (KO) has generally ____________ since 2016.
increased
The strategic-management process represents a(n) ________, ________, and ________ approach for determining an enterprise's future direction.
logical; systematic; objective
Long-term objectives should be
longer than 1 year
The Industrial Organization (I/O) approach to competitive advantage advocates that external factors are ________ internal factors in a firm achieving competitive advantage.
more important than
A corporation's sources of funds are generally derived from all of the following except for
owner capital
The I/O theory supports the believe that some industries ...
perform better than others and you should join them.
All of the following are political, governmental, and legal variables that can represent key opportunities or threats to organizations EXCEPT
population changes by race, age, sex, and level of affluence.
Among the fastest growing industries in the USA today is all of the following except for
printed advertising
The thinking of strategic management is that an organization should take a(n) ________ approach in its industry.
proactive rather than a reactive
Which of the following is true about the "long tail theory" strategy
realization of profits by selling low volume of hard-to-find items to many customers
The strategic management model in figure 1-1 is a widely accepted, comprehensive model of the entire process. It consists of a flowchart with 10 components that reflect
textbook chapters
All of these are pitfalls an organization should avoid in strategic planning EXCEPT
using plans as a standard for measuring performance.