strategies are goal-directed plans and actions of the organization’s functional areas

Question 1 of 20

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__________ strategies are goal-directed plans and actions of the organization’s functional areas.

A. Situational

B. Business

C. Competitive

D. Operational

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Question 2 of 20

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Which of the following statements is NOT true regarding corporate strategies?

A. They are concerned with the broad and more long-term issues of the organization.

B. They are concerned with how the organization is going to compete in a specific business or industry.

C. They are concerned with the direction the organization is headed.

D. They are concerned with the business(es) that the organization is in and the businesses they want to be in.

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Question 3 of 20

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Globalization has created challenges because of the __________ that is necessary to make it work.

A. investment

B. management

C. openness

D. staffing

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Question 4 of 20

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Situation analysis allows the organization to focus on examining:

A. operational competencies.

B. financial controls.

C. the organization's top management.

D. external and internal factors.

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Question 5 of 20

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The board of directors in an organization:

A. plays a significant role in corporate governance.

B. is responsible for the implementation of the organization's operating activities.

C. serves in the role of executive management.

D. is not an important part of the organization's strategic development.

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Question 6 of 20

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Bases for understanding strategic management are all of the following EXCEPT:

A. managing strategically makes a difference in an organization's performance.

B. all organizations encounter changing situations.

C. single approaches to strategy development are superior to multiple approaches.

D. all strategies must be evaluated and changed over time.

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Question 7 of 20

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An organization's __________ are its goal-directed plans and actions in which its capabilities and resources are matched with the opportunities and threats in its environment.

A. mission statements

B. vision statements

C. strategies

D. objectives

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Question 8 of 20

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According to Governance Metrics International (GMI) __________ had the highest overall rating for their governance structures and procedures.

A. Canada

B. Ireland

C. United Kingdom

D. New Zealand

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Question 9 of 20

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Section 404 of the Sarbanes-Oxley Act deals with the establishment and auditing of:

A. external financial controls.

B. internal financial controls.

C. appointment of the CEO.

D. appointment of Board members.

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Question 10 of 20

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In addition to expanding the role of board members, the Sarbanes-Oxley Act of 2002 also called for more disclosure and transparency of:

A. the corporate vision.

B. the corporate mission.

C. financial information.

D. the balanced scorecard.

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Question 11 of 20

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The organization type which first utilized strategy was the __________ organization.

A. entertainment

B. military

C. retail

D. not-for-profit

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Question 12 of 20

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__________ is/are the determination of the broad uses to which organizational resources will be deployed and the resolution of conflicts among the myriad participants in organizations.

A. Vision

B. Mission

C. Corporate governance

D. Goals

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Question 13 of 20

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Strategic __________ is the ability to anticipate, envision, maintain flexibility, think strategically, and work with others in the organization to initiate changes that will create a viable and valuable future for the organization.

A. awareness

B. leadership

C. thinking

D. control

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Question 14 of 20

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Types of strategies within organizations include:

A. situational strategies.

B. functional strategies.

C. product strategies.

D. global strategies.

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Question 15 of 20

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One issue considered in developing corporate strategies is:

A. What competition are we facing?

B. What direction are we going in?

C. What resources do we have to implement our strategies?

D. What businesses are we in and what to do with those businesses?

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Question 16 of 20

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The __________ is an elected group that represents a company’s shareholders.

A. board of directors

B. senior management team

C. steering committee

D. corporate counsel

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Question 17 of 20

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The academic discipline primarily responsible for the development of strategic management is:

A. accounting.

B. economics.

C. philosophy.

D. anthropology.