Strategic Planning
Exam Materials
Course Introduction
Strategic Planning explores the processes and methodologies organizations use to define their direction, set priorities, allocate resources, and ensure stakeholders are working toward common goals. The course emphasizes environmental scanning, strategy formulation, implementation, and performance management, blending theoretical frameworks with practical tools for real-world application. Students learn to analyze both internal and external factors impacting an organizations future, develop actionable plans, and assess strategic options to sustain competitive advantage in dynamic markets. Through case studies, simulations, and group projects, participants gain the critical skills necessary to drive long-term organizational success.
Recommended Textbook
Strategic Management Planning for Domestic Global Competition 14th Edition by John Pearce
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14 Chapters
1102 Verified Questions
1102 Flashcards
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Chapter 1: Strategic Management
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86 Verified Questions
86 Flashcards
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Sample Questions
Q1) The doubling of EPS within 5 years with increases in each intervening year is called a(n):
A) Mission
B) Long-term objective
C) Action plan
D) Short-term objective
Answer: B
Q2) Which of the following is a major function of the strategic management model?
A) It helps make profits for the firm
B) It helps in identifying key issues faced by the firm
C) It helps in deciding which products to sell
D) It depicts the sequence and relationships of the major components of the strategic management process
Answer: D
Q3) Strategic decisions ostensibly commit the firm for
A) 1-2 years
B) The short term
C) 3-4 years
D) A long time, typically five years
Answer: D
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Chapter 2: Company Mission
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87 Flashcards
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Sample Questions
Q1) Which of these is one of Demming's well-known points on quality?
A) Create dependence on mass inspections to achieve quality
B) Award business on the measure of price tag
C) Breakdown barriers between departments
D) Corporate transformation should be the responsibility of top management
Answer: C
Q2) The strategic decision makers in the firm are responsible for:
A) The firm's mission
B) Rewards
C) Plant efficiency
D) Daily operations
Answer: A
Q3) Given that managers implicitly accept a general,unwritten,yet pervasive code of behavior that govern business actions,the _____ vary little from one firm to another.
A) Philosophies
B) Visions
C) Missions
D) Self-concepts
Answer: A
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Page 4
Chapter 3: Corporate Social Responsibility and Business Ethics
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83 Flashcards
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Sample Questions
Q1) Freedom to participate in collective bargaining is a typical claim of which stakeholder group?
A) Stockholders
B) Creditors
C) Employees
D) Society
Answer: C
Q2) Approximately _____ percent of senior corporate auditors now report directly to the Board of Directors audit committee.
A) 30
B) 55
C) 75
D) 90
Answer: C
Q3) A major consequence of the 2000-2002 accounting scandals was the ______ .
A) Sherman Antitrust Act
B) Waxman-Hatch Act
C) Enron Act
D) Sarbanes-Oxley Act
Answer: D
Page 5
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Chapter 4: The External Environment
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Sample Questions
Q1) Which of these represent a key characteristic of eco-efficient corporations?
A) Eco-efficient firms are reactive
B) Eco-efficiency is added on
C) Flexibility is imperative for eco-efficient strategy implementation
D) Eco-efficiency is insular
Q2) Highly profitable buyers are usually:
A) Less price sensitive
B) More price sensitive
C) Very quantity oriented
D) Not very quantity oriented
Q3) Technological factors are a part of a firm's ______ environment.
A) Industry
B) Operating
C) Economic
D) Remote
Q4) The external environment can be divided into various interrelated subcategories:
A) Remote, political, social
B) Remote, social, operational
C) Remote, industry, operating
D) Technological and social
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Chapter 5: The Global Environment
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85 Verified Questions
85 Flashcards
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Sample Questions
Q1) In a ____ industry,competition occurs within each country.
A) technological
B) industrial
C) global
D) multidomestic
Q2) A firm with a _______ orientation adopts a global systems approach to strategic decision making,thereby emphasizing global integration.
A) polycentric
B) geocentric
C) regiocentric
D) ethnocentric
Q3) Firms from which country lead the way in "direct foreign investment" in the United States?
A) Japan
B) India
C) China
D) United Kingdom
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Page 7
Chapter 6: Internal Analysis
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Sample Questions
Q1) Value chain analysis takes a:
A) Process point of view
B) Functional point of view
C) Horizontal point of view
D) Corporate point of view
Q2) Which of the following is NOT an example of an isolating mechanism?
A) Physically unique resources
B) Capital ambiguity
C) Path-dependent resources
D) Economic deterrence
Q3) It is especially important that managers take into account their level of ________ when comparing their cost structure for activities on their value chain with those of key competitors.
A) Competition
B) Horizontal integration
C) Vertical integration
D) Concentric diversification
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Chapter 7: Long-Term Objectives and Strategies
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Sample Questions
Q1) If a business is sold for its tangible asset value,the strategy is one of:
A) Divestiture
B) Conglomeration
C) Liquidation
D) Diversification
Q2) Objectives should be suited to the broad aims of the organization which are expressed in the statement of the company:
A) Profile
B) Mission
C) Philosophy
D) Goals
Q3) Which of the following is a generic strategy developed by Michael Porter?
A) Market development
B) Differentiation
C) Liquidation
D) Innovation
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Chapter 8: Business Strategy
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Sample Questions
Q1) The extent to which a business concentrates on a narrowly defined market,it is called a(n)__________ strategy.
A) Integration
B) Market focus
C) Formula facility
D) Tightly managed decentralization
Q2) When a firm competes in a geographically defined specific area,it is using a(n)_______ strategy.
A) market focus
B) Cost
C) Differentiation
D) Integration
Q3) Selling present products to customers in related marketing areas by adding channels of distribution is called
A) Market development
B) Vertical acquisition
C) Turnaround strategy
D) Conglomerate diversification
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Chapter 9: Multibusiness Strategy
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90 Flashcards
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Sample Questions
Q1) The two dimensions in the BCG's Strategic Environments matrix are ____ and _____ of competitive advantage.
A) length, timing
B) yes and no
C) sources, size
D) many, few
Q2) Spelling out key features of how a process is executed is the purpose of which type of simple rules?
A) Boundary rules
B) Priority rules
C) How-to Rules
D) Exit rules
Q3) Which matrix involves a framework that can help ensure that businesses' strategies are consistent with strategies appropriate to their strategic environment?
A) Strategic choice matrix
B) Growth-share matrix
C) Industry attractiveness-business strength matrix
D) Strategic environments matrix
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11
Chapter 10: Implementation
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Sample Questions
Q1) A common measure of shareholder wealth creation is appreciation of company
A) revenues
B) stock price
C) employees
D) stockholders
Q2) The goal of an executive bonus compensation plan is to:
A) Motivate executives to achieve maximization of shareholder wealth
B) Motivate executives to achieve maximization of personal wealth
C) Differentiate executives from other managers
D) Ensure the success of the firm
Q3) A ________ is designed to provide benefits of direct executive stock ownership.
A) Restricted stock plan
B) Cash based plan
C) Golden parachute
D) Golden handcuffs plan
Q4) Short-term objectives are usually:
A) Completed within two months
B) Quantitative
C) Qualitative
D) Set to be completed within five years
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Chapter 11: Organizational Structure
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Sample Questions
Q1) The need for global coordination and innovation ________ to get the right mix of local initiative,information flow,leadership and corporate culture.
A) Is forcing constant experimentation and adjustment
B) Is entirely management-based
C) Has been diminished
D) Varies with location
Q2) The temporary nature of the product-team structure's teams results in:
A) Lower coordination costs
B) More management levels above the team
C) Increased bureaucracy with decision-making
D) Higher coordination costs
Q3) _____ has led brand marketers to realize they need to take a multidomestic approach to be more responsive to local preferences.
A) The rise of supplier dominance
B) The rise of a consumer culture
C) Globalization in general
D) Environmental awareness
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13
Chapter 12: Leadership and Culture
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Sample Questions
Q1) A key way the characteristics of the desirable manager manifest themselves in a manager's routine activities is found in the way they:
A) Seek to get favorable decisions from corporate management
B) Collaborate with others
C) Choose individual workers
D) Seek to get the work of their unit done over time
Q2) The assembly line workers had already received cutbacks in bonus compensation when profits fell last quarter.Rogeco's managers made it clear that unless productivity and profits were brought back up to the industry benchmarks within two quarters,further cuts would be made to base pay.This demonstrates:
A) Expert influence
B) Referent influence
C) Information power
D) Punitive power
Q3) Good leaders are inevitably good verbal and ___ communicators
A) visual
B) emotional
C) oral
D) loud
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Page 14
Chapter 13: Strategic Control
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Sample Questions
Q1) Strategic surveillance must be kept:
A) As focused as possible
B) As unfocused as possible
C) As fast as possible
D) Internal
Q2) ___________ is designed to monitor a broad range of events inside and outside the firm that are likely to affect the course of its strategy.
A) Special alert control
B) Strategic surveillance
C) Premise control
D) Implementation control
Q3) The __________ that take place usually involve a full-scale reassessment of the strategy and of the advisability of continuing or refocusing the firm's direction.
A) Abandonment reviews
B) Milestone reviews
C) Strategic thrusts
D) Strategic implementation
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Page 15
Chapter 14: Innovation and Entrepreneurship
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61 Flashcards
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Sample Questions
Q1) __________ are prevalent early in many new ventures.
A) Friendly sources
B) Professional venture capitalists
C) Informal venture investors
D) Angel investors
Q2) The iPod is an example of ____ innovation,while iTunes is an example of ______ innovation.
A) product, process
B) process, product
C) product, service
D) service, product
Q3) Entrepreneurs benefit when using __________ because they retain ownership and increase the return on their investment if things go as planned.
A) Equity capital
B) Debt capital
C) Stock financing
D) Loans against accounts payable
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