The strategic management process is
A. a set of activities that is guaranteed to prevent organizational failure
B. a process concerned with a firms resources, capabilities, and competencies, but not the conditions in its external environment
C. a set of activities that to date have not been used successfully in the not-for-profit sector
D. a dynamic process involving the full set of commitments, decisions, and actions related to the firm
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Organizations require good people with appropriate skills and abilities to work together effectively to be successful. Which of the following characteristics is not seen as critical for this?
A. Competent
B. Committed
C. Cost-effective
D. Capable
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Hard human resource management assumes which of the following?
A. Employees are more productive when they are better informed
B. Employees are more productive if they are committed to the organization
C. Employees are resources to be used effectively in the search for competitive advantage
D. Employees have to be trusted to make correct decisions
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Strategic mission
A. is a statement of a firms unique purpose and scope of operations
B. is an internally-focused affirmation of the organization's societal and ethical goals
C. does not limit the firm by specifying the industry in which the firm intends to compete
D. is developed by a firm before the firm develops its strategic intent
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Which of these is a characteristic of soft human resource management?
A. Managers are responsible for employees
B. Teams provide increased productivity
C. Managers are responsible for deploying employees
D. Scientific management principles and systems should be used to deal with employees
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The _______________ has its own business strategy, objectives and competitors and these are often differ from parent company
A. Strategic Business Unit structure
B. Matrix structure
C. Divisional structure
D. None of given option
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Which of the following is not an example of a managerial mindset?
A. Analytic
B. Reflective
C. Competent
D. Co-operative
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The vision and mission statement can often be found
A. in the SEC report
B. in annual reports
C. on customer receipts
D. on supplier invoices
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Which statement should be created first and foremost?
A. Strategic
B. Vision
C. Objectives
D. Mission
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What does the acronym SMART refer to?
A. Superiority, Measurement, Appropriability, Replicability, Transparency
B. Specific, Measurable, Achievable, Realistic, Timescale
C. Substitutability, Measurement, Appropriability, Replicability, Transparency
D. Specific, Measurable, Achievable, Realistic, Timely
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The purpose of a mission statement is to declare all of these except
A. a reason for being
B. an annual financial plan
C. a statement of purpose
D. a statement of beliefs
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Which of the following is not a characteristic of the Internet?
A. Provides information
B. Facilitates communication
C. Provides competitive advantage
D. Enables electronic trading
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As indicated in the strategic-management model, a clear _______ is needed before alternate strategies can be formulated and implemented.
A. long-term objective
B. short-term objective
C. policy
D. mission statement
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Which one of the following criteria does not provide a means to assess strategic resources?
A. Sustainability
B. Scarcity
C. Inimtability
D. Synergy
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Innovation and quality can be seen as which form of management?
A. Marketing management
B. Financial management
C. Operations management
D. Human resource management
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The mission statement answers which question?
A. What is our business?
B. How can we improve ourselves?
C. What do we want to become?
D. Who are our stakeholders?
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Which of the following is not one of the four key strategic elements linked to corporate objectives?
A. Competitive environment
B. Stakeholder expectations
C. Research and development
D. Organization structure
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The vision statement answers which question?
A. What is our business?
B. How can we improve ourselves?
C. What do we want to become?
D. Who are our stakeholders?
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In the process of developing a mission statement, it is important to involve
A. as few managers as possible
B. as many managers as possible
C. upper-level management only
D. lower-level management only
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Information is defined by Lucas (1976) as
A. some tangible or intangible entity that creates certainty about a state or event
B. some tangible or intangible entity that reduces uncertainty about a state or event
C. some tangible or intangible entity that leads to understanding
D. some tangible or intangible entity that leads to knowledge
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