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Student Quiz
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1

A project is a large-scale action plan that sets the direction for an organization.
A)True
B)False
2

Which of the following lists the steps of the strategic management process in the proper order?
A)Formulate strategic plan; carry out strategic plan; maintain strategic control; establish grand strategy; establish mission and vision
B)Establish mission and vision; formulate strategic plan; carry out strategic plan; establish grand strategy; maintain strategic control
C)Establish grand strategy; formulate strategic plan; carry out strategic plan; maintain strategic control; establish mission and vision
D)Establish mission and vision; establish grand strategy; formulate strategic plan; carry out strategic plan; maintain strategic control
3

A _______ explains how the organization's mission is to be accomplished, after an assessment of current organizational performance.
A)grand strategy
B)vision
C)formulation strategy
D)control plan
4

A _______ strategy is a grand strategy that involves little or no significant change.
A)defensive
B)stability
C)growth
D)linear
5

Which type of strategy involves improving an existing product or increasing its promotion and marketing efforts?
A)Stability strategy
B)Retrenchment strategy
C)Growth strategy
D)Reaction strategy
6

Strategy _______ is the process of choosing among different strategies and altering them to best fit the organization's needs.
A)formulation
B)control
C)implementation
D)testing
7

Putting strategic plans into effect is strategy implementation.
A)True
B)False
8

To keep a strategic plan on track, all of the following are necessary EXCEPT
A)engage people.
B)make it complex.
C)stay focused.
D)keep moving.
9

Which of the following is NOT part of a SWOT analysis?
A)Strength
B)Opportunity
C)Timing
D)Weakness
10

If an organization has obsolete technology or outdated facilities, this is an example of an organizational threat.
A)True
B)False
11

A trend analysis is a hypothetical extension of a past series of events into the future.
A)True
B)False
12

Which of the following is NOT one of Michael Porter's five forces of competitive strategy?
A)Bargaining power of customers
B)Bargaining power of suppliers
C)Threat of new entrants
D)Bargaining power of competitors
13

The _______ strategy is used to offer products or services that are of unique and superior value compared to those of competitors and to target a narrow market.
A)differentiation
B)focus-differentiation
C)cost-leadership
D)cost-focus
14

Which of the following is NOT a stage in the product life cycle?
A)Introduction
B)Growth
C)Saturation
D)Decline
15

The maturity stage of the product life cycle is the most profitable stage, and is the period in which customer demand increases, the product's sales grow, and competitors may enter the market.
A)True
B)False
16

Diversification is using various methods to produce the same product or service.
A)True
B)False
17

Which of the following is NOT an indicator in the Balanced Scorecard?
A)Customer satisfaction
B)Financial measures
C)Internal processes
D)Organizational threats
18

Which of the following is NOT a frequent barrier to effective measurement management according to Lingle and Schiemann?
A)Companies focus too much on results instead of measuring activities
B)Objectives are fuzzy
C)Managers put too much trust in informal feedback systems
D)Employees resist new measurement systems





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