Strategic Management Chapter 4

Distribution involves marketing research, pricing, warehousing, distribution channels, wholesaling and retailing.

False

Staffing is the cornerstone of effective strategy formulation.

False

The basic premise of the resource-based view is that the mix, type, amount and nature of a firm's external resources should be considered first and foremost in devising strategies that can lead to sustainable competitive advantage.

False

The process of performing an internal audit, compared to an external audit, does not provide more opportunity for participants to understand how their jobs, departments ad divisions fit into the whole organization.

False

While interesting, organizational culture does not significantly affect business decisions.

False

_______ exemplifies the complexity of relationships among the functional areas of business.

Financial ratio analysis

What category of ratios measures how effectively a firm can maintain its economic position in the growth of the economy and industry?

Growth

Which of the following is the first step in developing an IFE Matrix?

Identifying the organization's strengths and weaknesses.

Which of these is the allocation and reallocation of capital and resources to projects, products, assets, and divisions of an organization?

Investment Decision

What is the essential bridge between the present and the future that increases the likelihood of achieving desired results?

Planning

Cultural products include rites, values, beliefs, stories, and language.

True

Proponents of the resource-based view argue that internal factors are more important than external factors for a firm in achieving and sustaining competitive advantage.

True

There are seven basic functions of marketing: customer analysis, selling, product and service planning, pricing, distribution, marketing research and opportunity analysis.

True

All of the following are basic duties of a manager except:

Consolidating

Staffing involves all of these activities except:

Customer Analysis

_______ become(s) ________ only when they are evaluated, filtered, condensed, analyzed, and organized for a specific purpose, problem, individual, or time.

Data;Information

Which of the following is not a cultural product?

Emotions

Organizational resources include all of the following except:

Employee Training

An internal audit involves an organization's strengths and threats.

False