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MGT-498 Final Exam

A final exam covering strategic management concepts and business planning.

Wyatt Evans
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MGT-498 Final Exam1)In a survey of 50 corporations, which of the following was ratedas a benefit of strategic management?A.Clearer sense of vision for the firmB.Higher levels of employee motivationC.Higher levels of job satisfactionD.Improved productivityE.Lower employee turnover2)Research suggests that strategic management evolves throughfour sequential phases in corporations. The first phase isA.externally-oriented planningB.basic financial planningC.internally-oriented planningD.forecast-based planningE.strategic management3)Strategic management is that set of managerial decisions andactions that determine the long-run performance of a corporation.Which one of the following is NOT one of the basic elements of thestrategic management process?A.Strategy formulationB.Strategy implementationC.Statistical process controlD.Evaluation and controlE.Environmental scanning4)The relationship among the board of directors, top management,and shareholders is referred to asA.corporate synergyB.corporate managementC.corporate governanceD.corporate strategyE.corporate responsibility5)The concept that proposes private corporations haveresponsibilities to society that extend beyond making a profit isknown as

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A.flexible responsibilityB.social responsibilityC.social flexibilityD.managerial responsibilityE.profit maximization6)Who said that the social responsibility of business is a"fundamentally subversive doctrine" and that the one socialresponsibility of business is "to use its resources and engage inactivities designed to increase its profits so long as it stays with therules of the game..."?A.Adam SmithB.Edward FreemanC.Archie CarrollD.William C. NorrisE.Milton Friedman7)Which of the following is NOT descriptive of externalenvironmental scanning?A.Used as a tool to ensure a corporation's long-term healthB.Used to monitor, evaluate, and disseminate information from theexternal environment to key people within the corporationC.Used to identify opportunities and threatsD.It is a tool that corporations use to avoid strategic surpriseE.Used to identify strengths and weaknesses8)According to Porter, the corporation is most concerned withA.the intensity of competition within its industryB.the aggregate level of demand for a product lineC.a market's position on its life cycleD.the amount of pressure from the societal environmentE.the level of government action in an industry9)When a company determines a competency's competitiveadvantage, Barney refers to this issue asA.valueB.rarenessC.imitabilityD.organizationE.durability10)An acronym for the assessment of the external and internal
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Document Details

University
University of Phoenix
Course
MGT 498
Subject
Business Management

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