MGMT 386 Lecture Notes - Lecture 10: Statistical Process Control, Strategic Planning, Strategic Management
A) monitoring and evaluating external opportunities and threats in light of a corporation's strengths and
weaknesses.
Research suggests that strategic management evolves through four sequential phases in corporations.
The first phase is
B) basic financial planning.
The time horizon involved with regard to basic financial planning is usually
1 year
A difference between basic financial planning and forecast-based planning is
forecast-based planning incorporates internal and external information.
Top-down planning that emphasizes formal strategy formulation and leaves the implementation issues
to lower management levels is known as
externally-oriented planning.
In the final phase of strategic management, strategic information is available to
people throughout the organization.
In a survey of 50 corporations, which of the following was rated as a benefits of strategic management?
clearer sense of vision for the firm
When an organization is evaluating its strategic position, which is NOT one of the strategic questions
that an organization must ask itself?
How can functional and operational areas be improved?
Research of the planning practices of companies in the oil industry concludes that the real value of
modern strategic planning is more
in the strategic thinking and organizational learning.
Strategic planning within a small organization
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may be informal and irregular.
Strategic planning in a multidivisional corporation
should be a formalized and sophisticated system.
The integrated internationalization of markets and corporations is called
globalization
One of the benefits of globalization is
A) economies of scale.
The regional trade association composed of Argentina, Brazil, Uruguay, and Paraguay is called
Mercosur.
Members of the European Union (EU) include all of the following EXCEPT
) Malaysia.
Canada, the United States, and Mexico are affiliated economically under which trade alliance?
NAFTA
The currency used to integrate the monetary systems of the European Union (EU) is called the
EURO
All of the following reflect categories of organizational risk as a result of climate change EXCEPT
sustainability risk.
Which theory proposes that once an organization is successfully established in a particular
environmental niche, it is unable to adapt to changing conditions?
population ecology
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The theory that proposes organizations can and do adapt to changing conditions by imitating other
successful organizations is known as
institution theory.
The ability of an organization to reshape its environment is described by
the strategic choice perspective.
The ability of a corporation to shift from one dominant strategy to another is called
strategic flexibility.
An organization skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior
to reflect new knowledge and insights is a
learning organization.
All of the following reflect activities of a learning organization EXCEPT
alienating competitors in the industry.
According to Alfred Chandler
All of the Above
Strategic management is that set of managerial decisions and actions that determine the long-run
performance of a corporation. Which one of the following is NOT one of the basic elements of the
strategic management process?
statistical process control
) The monitoring, evaluating, and disseminating of information from the external and internal
environments to key people within the corporation is referred to as
environmental scanning.
The variables structure, culture, and resources pertain to the
internal environment.
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Document Summary
Monitoring and evaluating external opportunities and threats in light of a corporation"s strengths and weaknesses. Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is: basic financial planning. The time horizon involved with regard to basic financial planning is usually. A difference between basic financial planning and forecast-based planning is forecast-based planning incorporates internal and external information. Top-down planning that emphasizes formal strategy formulation and leaves the implementation issues to lower management levels is known as externally-oriented planning. In the final phase of strategic management, strategic information is available to people throughout the organization. In a survey of 50 corporations, which of the following was rated as a benefits of strategic management? clearer sense of vision for the firm. Research of the planning practices of companies in the oil industry concludes that the real value of modern strategic planning is more in the strategic thinking and organizational learning.
