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.