Strategic Management Exam Review
Course Introduction
Strategic Management introduces students to the analysis, formulation, and implementation of business strategies that enable organizations to achieve competitive advantage in dynamic environments. The course emphasizes critical thinking in evaluating the internal and external factors that influence organizational performance, including industry structures, resources, and capabilities. Students learn a range of strategic frameworks and tools to assess competition, formulate strategic plans, navigate uncertainty, and drive organizational success. Real-world case studies are used to illustrate concepts and develop practical skills in strategic decision-making, leadership, and change management.
Recommended Textbook
Understanding Management 10th Edition by Richard
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15 Chapters
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Page 2
L. Daft
Chapter 1: The World of Innovative Management
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65 Verified Questions
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Sample Questions
Q1) _____ is the attainment of organizational goals in an effective and efficient manner through planning,organizing,leading,and controlling organizational resources.
Answer: Management
Q2) The management science approach uses qualitative data in management decision making.
A)True
B)False
Answer: False
Q3) Efficiency refers to the degree to which the organization achieves a stated objective.
A)True
B)False
Answer: False
Q4) The late famed management theorist Peter Drucker is often credited with creating the modern study of management.
A)True
B)False
Answer: True
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3
Chapter 2: The Environment and Corporate Culture
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Sample Questions
Q1) The general environment dimension that includes consumer purchasing power,the unemployment rate,and interest rates is called the:
A)legal-political dimension.
B)sociocultural dimension.
C)technological dimension.
D)economic dimension.
E)task dimension.
Answer: D
Q2) All of these are a part of an organization's task environment,except:
A)customers.
B)labor markets.
C)competitors.
D)employers.
E)suppliers.
Answer: D
Q3) A joint venture involves a strategic alliance or program by two or more organizations.
A)True
B)False
Answer: True
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Chapter 3: Managing in a Global Environment
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Sample Questions
Q1) The legal-political environment includes:
A)infrastructure.
B)tariffs and taxes.
C)religion.
D)exchange rates.
E)demographic profile.
Answer: B
Q2) An MNC is managed as an integrated worldwide business system.
A)True
B)False
Answer: True
Q3) The basic management functions of planning,organizing,leading,and controlling are the same whether a company operates domestically or internationally.
A)True
B)False
Answer: True
Q4) _____ is the criterion traditionally used to classify countries as developed or developing.
Answer: Per capita income
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Chapter 4: Managing Ethics and Social Responsibility
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Sample Questions
Q1) Economic responsibility defines what society deems as important with respect to appropriate corporate behavior.
A)True
B)False
Q2) The _____ approach asserts that human beings have fundamental rights and liberties that cannot be taken away by an individual's decision.
Q3) Which of these employee behaviors matches with the conventional level of personal moral development?
A)Task accomplishment
B)Empowered employees
C)Work group collaboration
D)Full participation
E)Act in own interest
Q4) Most managers operate at the _____ level.
Q5) Ethical responsibility includes behaviors that are not necessarily codified into law and may not serve the corporation's direct economic interests.
A)True
B)False
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Chapter 5: Planning and Goal Setting
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Sample Questions
Q1) The task environment sectors are the most relevant to strategic behavior and include the behavior of competitors,customers,suppliers,and the labor supply.
A)True
B)False
Q2) Mingles,Inc.concentrates its efforts on its target market of 18 to 25 year olds.It is using a(n)_____ strategy.
A)focus
B)differentiation
C)cost leadership
D)multidomestic
E)universal
Q3) One of the biggest benefits of planning is that,in turbulent environments,plans create greater organizational flexibility.
A)True
B)False
Q4) List the four major activities that must occur in order for MBO to succeed.
Q5) _____ assess what is important to the organization and how well the organization is progressing toward attaining its strategic goal.
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Chapter 6: Managerial Decision Making
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Sample Questions
Q1) The tendency of organizations to invest time and money in a solution despite strong evidence that is not appropriate is referred to as:
A)technological decisions.
B)collective intuition.
C)decision learning.
D)team delay.
E)escalating commitment.
Q2) Bobby,a product manager,wants to increase the market share of his product.He is unsure about how to go about it,not knowing for sure how costs,price,the competition,and the quality of his product will interact to influence market share.Bobby is operating under a condition of:
A)risk.
B)ambiguity.
C)certainty.
D)uncertainty.
E)brainstorming.
Q3) Making a choice is the most significant part of the decision-making process.
A)True
B)False
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Page 8
Chapter 7: Designing Organization Structure
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Sample Questions
Q1) _____ is characterized by intangible outputs.
A)Service technology
B)Mass production
C)Large-batch production
D)Small-batch production
E)Continuous process production
Q2) _____ departments include all of those that provide specialized skills in support of _____ departments.
A)Line; staff
B)Staff; line
C)Primary; functional
D)Functional; primary
E)Line; functional
Q3) Which of the following structures works best in an uncertain organizational environment?
A)A tight structure
B)A mechanistic structure
C)A horizontal structure
D)A functional structure
E)A vertical structure
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Chapter 8: Managing Change and Innovation
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Sample Questions
Q1) Confrontation,authoritarianism,and disciplined exploration are characteristics of the creative individuals.
A)True
B)False
Q2) Organizational change refers to the adoption of a new idea or behavior by an organization.
A)True
B)False
Q3) List the four reasons why employees tend to resist change.
Q4) The horizontal linkage model is increasingly important in high pressure business environments that require rapidly developing and commercializing products and services.
A)True
B)False
Q5) The idea in the large-group intervention is to get a sample of people who may have an interest in the organization,gather perspectives from the selected parts of the system,and allow the sample to create a collective future.
A)True
B)False
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Chapter 9: Managing Human Resources and Diversity
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Sample Questions
Q1) All of the following are current strategic issues of particular concern to managers,except:
A)hiring the right people to become more competitive on a global basis.
B)hiring the right people for improving quality, innovation, and customer service.
C)hiring the right people to become more competitive on a local basis.
D)knowing the right people to retain during mergers and acquisitions.
E)hiring the right people to apply new information technology for e-business.
Q2) Most organizations that cut benefits during the recent recession plan to restore them in the near future.
A)True
B)False
Q3) Finding the right people to apply new information technology for e-business is a current strategic issue of particular concern for HR managers.
A)True
B)False
Q4) The invisible barrier that separates women and minorities from top management positions is known as the _____.
Q5) Explain the appraisal process known as "360-degree feedback."
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Chapter 10: Understanding Individual Behavior
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Sample Questions
Q1) Errors in perceptual judgment that arise from inaccuracies in any part of the perception process are called ______.
Q2) The three options in getting things done are: doing it,delegating it,or deferring it.
A)True
B)False
Q3) The ability to connect to others,build positive relationships,respond to the emotions of others,and influence others is referred to as relationship management.
A)True
B)False
Q4) An individual's strong belief that he or she can successfully accomplish a specific task or outcome is referred to as:
A)locus of control.
B)self-confidence.
C)self-efficacy.
D)perceptual selectivity.
E)cognitive dissonance.
Q5) What are the four components of emotional intelligence? Explain.
Q6) Loyalty to and heavy involvement in one's organization is called ______.
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Chapter 11: Leadership
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Sample Questions
Q1) The early research on leadership traits was referred to as the:
A)contingency theory of leadership.
B)path-goal theory of leadership.
C)great man approach.
D)situational theory of leadership.
E)behavioral approach.
Q2) Legitimate,reward,and expert powers are all forms of position power.
A)True
B)False
Q3) A Level I leader is:
A)capable.
B)contributing.
C)competent.
D)effective.
E)the highest level.
Q4) _____ is the extent to which the leader is task oriented and directs subordinates' work activities toward goal attainment.
Q5) List the two dimensions used in Blake and Mouton's Leadership Grid.
Q6) Power that results from the authority to reward others is called _____.
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Q7) Vision,innovation,nurturing,and personal power are examples of _____ qualities.
Chapter 12: Motivating Employees
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Sample Questions
Q1) Organizations that empower employees often reward them based on the results shown in the company's bottom line.
A)True
B)False
Q2) Which term,in goal-setting theory,refers to the need to make goals highly ambitious but achievable?
A)Goal specificity
B)Goal difficulty
C)Goal acceptance
D)Feedback
E)Goal motivation
Q3) Skill variety,task identity,and task significance tend to influence the employee's psychological state of experienced meaningfulness of work.
A)True
B)False
Q4) According to expectancy theory,for an employee to be highly motivated,E-P expectancy and valence must be maximized.
A)True
B)False
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Chapter 13: Managing Communication
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Sample Questions
Q1) Without feedback,communication is only a two-way process,sender to receiver and receiver to sender.
A)True
B)False
Q2) _____ and _____ are potential sources for communication errors,because knowledge,attitudes,and background act as filters.
A)Encoding; channel
B)Encoding; noise
C)Decoding; channel
D)Decoding; encoding
E)Decoding; noise
Q3) Jay,a divisional vice president of a consumer goods manufacturer,gives a presentation to all divisional employees to outline the company's goals for the coming year.This is an example of what type of organizational communication?
A)Virtual communication
B)Grapevine communication
C)Lateral communication
D)Downward communication
E)Upward communication
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Page 15
Chapter 14: Leading Teams
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Sample Questions
Q1) A role in which the individual devotes personal time and energy to helping the team accomplish its task is called a(n)_____ role.
Q2) Work team effectiveness is based on three outcomes: productive output,capacity to adapt and learn,and:
A)cohesiveness.
B)satisfaction.
C)commitment.
D)leadership.
E)norms.
Q3) A common dysfunction of teams is to be results oriented. A)True
B)False
Q4) The _____ stage of development is a period of orientation and getting acquainted.
Q5) Making explicit statements about the desired team behaviors is a powerful way leaders influence norms.
A)True
B)False
Q6) List the five stages of team development.
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Chapter 15: Managing Quality and Performance
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Sample Questions
Q1) The continuous process of measuring products,services,and practices against major competitors or industry leaders is called _____.
Q2) Decentralized control is usually implemented in all of the following areas,except:
A)self-control.
B)peer group.
C)corporate culture.
D)employee selection and socialization.
E)the quality control department.
Q3) Sharing financial information and results with all employees in the organization is called _____ management.
Q4) Compare hierarchical control with decentralized control.
Q5) An expense budget lists forecasted and actual revenues of the organization. A)True
B)False
Q6) List the four steps in the feedback control model.
Q7) A(n)_____ includes anticipated and actual expenses for each responsibility center and for the total organization.
Q8) Describe the difference between a balance sheet and an income statement.
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