Course Introduction
Strategic Planning Review
Questions
Strategic Planning is a comprehensive course designed to equip students with the knowledge and skills necessary to develop, implement, and evaluate long-term organizational strategies. The course explores key concepts such as mission and vision formulation, environmental analysis, competitive advantage, goal setting, and resource allocation. Through the use of real-world case studies, analytical frameworks, and practical tools, students learn how to assess external and internal factors, anticipate market trends, and make informed decisions that drive organizational success. Emphasis is placed on both the theoretical underpinnings of strategic management and its practical application in a variety of business contexts.
Recommended Textbook Concepts in Strategic Management and Business Policy 14th Edition by Thomas L. Wheelen
Available Study Resources on Quizplus
12 Chapters
1254 Verified Questions
1254 Flashcards
Source URL: https://quizplus.com/study-set/1438 Page 2
Chapter 1: Basic Concepts in Strategic Management
Available Study Resources on Quizplus for this Chatper
106 Verified Questions
106 Flashcards
Source URL: https://quizplus.com/quiz/28550
Sample Questions
Q1) As a part of the strategic management process, evaluation and control is concerned with all of the following, EXCEPT
A) generating feedback to decision makers.
B) monitoring corporate activities and performance.
C) stimulating a review of the corporation's strategic management.
D) pinpointing problem areas.
E) determining top management benefits packages.
Answer: E
Q2) The type of strategy which describes a company's overall direction in terms of its general attitude toward growth and the management of its various businesses and product lines is
A) functional.
B) operational.
C) business.
D) product.
E) corporate.
Answer: E
To view all questions and flashcards with answers, click on the resource link above.
Page 3
Chapter 2: Corporate Governance
Available Study Resources on Quizplus for this Chatper
97 Verified Questions
97 Flashcards
Source URL: https://quizplus.com/quiz/28554
Sample Questions
Q1) The average large, publicly held U.S. corporation has around
A) 7 directors.
B) 10 directors.
C) 19 directors.
D) 25 directors.
E) 30 directors.
Answer: B
Q2) The top criterion for selecting a good director in U.S. corporations is their willingness to challenge management when necessary.
A)True
B)False
Answer: True
Q3) Codetermination
A) is the process by which both management and the board establish corporate strategic management.
B) is the inclusion of a corporation's employees on its board.
C) occurs when one or more individuals on one board also serve on other boards.
D) is present when all board members are also employed by the corporation.
E) occurs when minority shareholders concentrate their votes.
Answer: B
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Ethics and Social Responsibility in Strategic Management
Available Study Resources on Quizplus for this Chatper
97 Verified Questions
97 Flashcards
Source URL: https://quizplus.com/quiz/28555
Sample Questions
Q1) According to Kohlberg, the second level of moral development, characterized by considerations of society's laws and norms, is called
A) principled.
B) essential.
C) conventional.
D) preconventional.
E) fundamental.
Answer: C
Q2) Being socially responsible
A) provides a company with a more positive overall reputation.
B) has opened doors in local communities.
C) has enhanced the company's reputation with consumers.
D) may have a positive effect on the firm's financial performance.
E) all of the above
Answer: E
Q3) The justice approach to ethics proposes that actions and plans should be judged by their consequences.
A)True
B)False
Answer: False
Page 5
To view all questions and flashcards with answers, click on the resource link above.
Chapter 4: Environmental Scanning and Industry Analysis
Available Study Resources on Quizplus for this Chatper
116 Verified Questions
116 Flashcards
Source URL: https://quizplus.com/quiz/28556
Sample Questions
Q1) NutraSweet can serve as a product substitute for sugar satisfying the same need.
A)True
B)False
Q2) Which of the following is True in regards to competitive intelligence?
A) The Economic Espionage Act makes it illegal to steal any material that a business has taken "reasonable efforts" to keep secret.
B) The Society of Competitive Intelligence Professionals urges strategists to stay within the law and to act ethically when searching for information.
C) The Society of Competitive Intelligence Professionals states that illegal activities are foolish because the vast majority of worthwhile competitive intelligence is available publicly via annual reports, websites, and libraries.
D) A number of firms hire consultants with questionable reputations who do what is necessary to get information when the selected methods do not meet SPIC ethical standards or are illegal.
E) all of the above
Q3) Define competitive intelligence.
Q4) Describe Porter's approach to industry analysis.
Q5) Describe the four general forces in the societal environment.
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Internal Scanning and Organizational Analysis
Available Study Resources on Quizplus for this Chatper
109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/28557
Sample Questions
Q1) Historically, competitive leadership in a market changes hands as one technology nears the end of its S-curve.
A)True
B)False
Q2) General Electric is well known for its distinctive competency in management development.
A)True B)False
Q3) Which of the following is NOT a responsibility of a research and development manager?
A) choosing among alternative new technologies to use within the corporation
B) developing methods of embodying the new technology in new products and processes
C) deploying resources so that the new technology can be successfully implemented
D) taking the design and operationalizing the plan into mass production
E) suggesting and implementing a corporation's technological strategy in light of its corporate objectives and policies
Q4) Define a value chain and the significance of the center of gravity.
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Strategy Formulation: Situation Analysis and Business Strategy
Available Study Resources on Quizplus for this Chatper
104 Verified Questions
104 Flashcards
Source URL: https://quizplus.com/quiz/28558
Sample Questions
Q1) In the development of a SFAS matrix, the first step is to
A) enter the ratings of how the company's management is responding to each of the strategic factors.
B) calculate the weighted scores.
C) list the most important EFAS and IFAS items.
D) indicate short-term goals for the duration.
E) enter the weights for all of the internal factors.
Q2) 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(n)
A) IFAS Table.
B) EFAS Table.
C) SFAS Table.
D) TOWS Matrix.
E) Issues Priority Matrix.
Q3) Based on the eight dimensions of quality discussed in the text, serviceability is defined as the product's ease of repair.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Strategy Formulation: Corporate Strategy
Available Study Resources on Quizplus for this Chatper
103 Verified Questions
103 Flashcards
Source URL: https://quizplus.com/quiz/28559
Sample Questions
Q1) A corporate strategy that cuts across divisional boundaries to build synergy across business units and to improve the competitive position of one or more business units is called
A) vertical strategy.
B) horizontal strategy.
C) hierarchical strategy.
D) portfolio strategy.
E) pyramid strategy.
Q2) According to the text, 75% of a company's market value is derived from its A) employees.
B) intangible assets.
C) plant assets.
D) joint ventures.
E) licensing agreements.
Q3) The purpose of vertical growth is to
A) take over a function previously supplied by a former employer.
B) take over a function previously provided by a supplier or by a distributor.
C) acquire a company of similar objective.
D) sell a company encumbered with debt.
E) expand to countries with strong trade alliances.
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Strategy Formulation: Functional Strategy and Strategic Choice
Available Study Resources on Quizplus for this Chatper
105 Verified Questions
105 Flashcards
Source URL: https://quizplus.com/quiz/28560
Sample Questions
Q1) In a dynamic environment, using consensus to arrive at a strategic decision is not recommended. Why? What two techniques can strategic managers use to avoid the consensus trap?
Q2) The technique used to help strategic managers choose among alternative choices by defining the task environment, developing a set of various forecasts, and using pro forma financial statements is called
A) decision trees.
B) SWOT analysis.
C) industry scenarios.
D) corporate scenarios.
E) Capital Asset Pricing Model.
Q3) The most commonly used political strategies include which of the following?
A) constituency building
B) political action committee contributions
C) advocacy advertising
D) lobbying
E) all of the above
Q4) What is a functional strategy?
Page 10
Q5) What are the strategies to avoid proposed by the authors?
Q6) Distinguish between a market development and a product development strategy.
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 9: Strategy Implementation: Organizing for Action
Available Study Resources on Quizplus for this Chatper
108 Verified Questions
108 Flashcards
Source URL: https://quizplus.com/quiz/28561
Sample Questions
Q1) When Yamaha entered the market with a broader range of pianos, keyboards, and other musical instruments, it was using which offensive tactic?
A) flanking maneuver
B) frontal assault
C) encirclement
D) bypass attack
E) guerilla attack
Q2) It is advisable to have management from all levels participate in the strategy formulation process
A) because it is a legal requirement.
B) because collective bargaining agreements often mandate worker participation.
C) to gain an insight as to what work needs to be done and to gain cooperation in the implementation of the strategy.
D) because it is part of their job responsibilities to provide input regarding their respective area of expertise.
E) because it helps boost the self-image and ego of all managers to be asked for advice.
Q3) What is the matrix of change? What types of questions does it answer?
Q4) What are the four stages of corporate development?
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 10: Strategy Implementation: Staffing and Directing
Available Study Resources on Quizplus for this Chatper
107 Verified Questions
107 Flashcards
Source URL: https://quizplus.com/quiz/28551
Sample Questions
Q1) Staffing issues can involve hiring new people with new skills, firing people with inappropriate or substandard skills, and/or training existing employees to learn new skills.
A)True
B)False
Q2) Which method of managing disparate cultures is the most common and most destructive method of dealing with two different cultures because one company imposes its demands at the expense of another company's culture?
A) separation
B) deculturation
C) integration
D) assimilation
E) segmentation
Q3) Firms in trouble seldom choose outsiders to lead them.
A)True
B)False
Q4) List the guidelines proposed for successful downsizing.
Q5) The key to the effective management of change is communication. A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 11: Evaluation and Control
Available Study Resources on Quizplus for this Chatper
105 Verified Questions
105 Flashcards
Source URL: https://quizplus.com/quiz/28552
Sample Questions
Q1) Which is the MOST commonly used measure of corporate performance (in terms of profit)?
A) EPS
B) ROE
C) DPS
D) ROI
E) ROVA
Q2) The balanced scorecard approach to evaluation and control assigns to each goal/objective in an area one or more measures that are each essential for achieving a desired strategic option. These measures are called
A) critical success factors.
B) strategic factors.
C) key performance measures.
D) behavioral measures.
E) responsibility centers.
Q3) One example of a steering control used by retail stores is the inventory turnover ratio, which shows how hard an investment in inventory is working.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 14
Chapter 12: Suggestions for Case Analysis
Available Study Resources on Quizplus for this Chatper
97 Verified Questions
97 Flashcards
Source URL: https://quizplus.com/quiz/28553
Sample Questions
Q1) The index of sustainable growth indicates how much of the growth rate of sales can be sustained by internally generated funds.
A)True
B)False
Q2) In case analysis, how the company actually dealt with the case problem is the most important part of the solution.
A)True
B)False
Q3) Common-size statements are income statements and balance sheets in which the dollar figures have been converted into percentages.
A)True
B)False
Q4) The case method provides the opportunity to move from a broader, less precise analysis of the overall corporation to a narrow, specialized view that emphasizes functional techniques.
A)True
B)False
Q5) What ratios are recommended for financial ratio analysis?
Q6) List Schilit's short checklist of items to examine for red flags.
Page 15
To view all questions and flashcards with answers, click on the resource link above.