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ANSWERS
MGT 498 Final Exam
1). In a
survey of 50 corporations, which of the following was rated as a benefit of
strategic management?
2). Research
suggests that strategic management evolves through four sequential phases in
corporations. The first phase is
3). Strategic
management is that set of managerial decisions and actions that determine the
long-run performance of a corporation. Which one of the following is NOT one of
the basic elements of the strategic management process?
4). The
relationship among the board of directors, top management, and shareholders is
referred to as
5). The
concept that proposes private corporations have responsibilities to society
that extend beyond making a profit is known as
6). Who
said that the social responsibility of business is a "fundamentally
subversive doctrine" and that the one social responsibility of business is
"to use its resources and engage in activities designed to increase its
profits so long as it stays with the rules of the game..."?
7). Which
of the following is NOT descriptive of external environmental scanning?
8). According
to Porter, the corporation is most concerned with
9). When
a company determines a competency`s competitive advantage, Barney refers to
this issue as
10). An
acronym for the assessment of the external and internal environments of the
business corporation in the process of strategy formulation/strategic planning
is
11). In
the development of a SFAS matrix, the first step is to
12). The
technique that illustrates how management can match the external opportunities
and threats with its strengths and weaknesses to yield four sets of strategic
alternatives is called a (an)
13). Which
strategy specifies the firm`s overall direction in terms of its general
orientation toward growth, the industries or markets in which it competes, and
the manner in which it coordinates activities and transfers resources among
business units?
14). Continuous
improvement is an operations concept developed in
15). The
process by which a firm approaches its cross-border activities and those of
competitors, and plans to approach them in the future, is called
16). What
question must managers ask concerning the relationship between economic logic
and international strategy?
17). Which
strategy is developed to pull together the various activities and competencies
of each department so that corporate and business unit performance improves and
resource productivity is maximized? MGT/498 Final
18). The
strategy that deals with product and process innovation and improvement is
known as a ________ strategy.
19) The
hiring of new people with new skills, firing of people with inappropriate or
substandard skills, and/or training existing employees to learn new skills are
included the process of
20). The
strategy implementation tool used to determine what actions are going to be
taken, by whom, during what time frame, and with what expected results is
called a(n)
21). Executives
with a particular mix of skills and experiences may be classified as an
executive type and paired with. MGT 498 Week 5 Final Exam.
22). According
to the text, what is the "key" to effective management of change in
culture?
23). The
sum total of the activities and choices required for the execution of a
strategic plan is known as in
24). Who
typically implements strategy in large, multi-industry corporations?
25). Which
one of the following is NOT a part of the evaluation and control of performance?
26). The
end result of activity is known as
27). Which
is the MOST commonly used measure of corporate performance (in terms of
profit)?
28). Because
of the belief that accounting-based numbers such as ROI, ROE, and EPS are not
reliable indicators of a corporation`s economic value, which method of
corporate performance is now preferred?
29). Which
company experienced a tarnished reputation and scandal after experiencing
behavior substitution when employees altered their behavior on the job to fit
the reward system?
30). Suboptimization
occurs when
MGT 498
Final Exam
