Accounting
Anthropology
Archaeology
Art History
Banking
Biology & Life Science
Business
Business Communication
Business Development
Business Ethics
Business Law
Chemistry
Communication
Computer Science
Counseling
Criminal Law
Curriculum & Instruction
Design
Earth Science
Economic
Education
Engineering
Finance
History & Theory
Humanities
Human Resource
International Business
Investments & Securities
Journalism
Law
Management
Marketing
Medicine
Medicine & Health Science
Nursing
Philosophy
Physic
Psychology
Real Estate
Science
Social Science
Sociology
Special Education
Speech
Visual Arts
Question
According to the comprehensive strategic-management model, which step needs to be completed immediately following the establishment of long-term objectives?
A) Developing vision and mission statements
B) Performing external audits
C) Performing internal audits
D) Generating, evaluating, and selecting strategies
E) Measuring and evaluating performance
Answer
This answer is hidden. It contains 1 characters.
Related questions
Q:
Opportunity analysis is one of the basic functions of
A) marketing.
B) finance/accounting.
C) computer information systems.
D) production/operations.
E) research and development.
Q:
One of the dangers of remaining a local competitor is that more aggressive companies will use their global growth to capture economies of scale and learning.
Q:
All of the following are limitations of the BCG Matrix EXCEPT
A) Viewing every business as a star, cash cow, dog or question mark can be an oversimplification.
B) The Matrix requires at least three years worth of data.
C) The Matrix does not reflect divisional or industry growth over time.
D) The Matrix does not allow a company to be classified as somewhere in between two categories.
E) Variables such as size of market and competitive advantages are not considered in the Matrix.
Q:
Which of the following is NOT a major approach to R&D?
A) To be a pioneer
B) To be an innovative imitator
C) To be a low-cost producer by mass-producing products similar to but less expensive than products recently introduced
D) To be a liquidator
E) All of the above are major approaches to R&D.
Q:
After a draft mission statement has been developed, it is important to
A) ask managers to read several articles about mission statements as background information.
B) vote on the mission statement.
C) ask managers to prepare a mission statement for the organization.
D) ask managers to seek support for the mission statement from their subordinates.
E) request modifications, additions, and deletions to the mission statement.
Q:
R&D employees and managers perform all of the following tasks EXCEPT
A) transferring complex technology
B) altering products to particular tastes and specifications
C) researching resource availability
D) adapting processes to local markets
E) adjusting process to local raw materials
Q:
In the BCG Matrix, a division with a high relative market share position in a low-growth industry can be described as a
A) Star.
B) Cash Cow.
C) Question Mark.
D) Dog.
E) Failure.
Q:
In the BCG Matrix, when a division of an organization has a high relative market share and is in a fast-growing industry, it is called a
A) Star.
B) Cash Cow.
C) Cat.
D) Question Mark.
E) Dog.
Q:
In the BCG Matrix, how would a division with a low relative market share position in a high growth industry be described?
A) Question Mark
B) Cash Cow
C) Star
D) Stuck-in-the-middle
E) Dog
Q:
Increased education and diversity of the workforce at all levels are reasons why the top-down approach should be favored in organizations.
Q:
When the correlation between dollar sales and dollar marketing expenditures has historically been low, market penetration is an appropriate strategy.
Q:
Political forecasts can be the most important part of an external audit for firms that depend heavily on government contracts.
Q:
Political, governmental, and legal factors can represent key threats or opportunities for both small and large organizations.
Q:
IFRS standards comprise 25,000 pages, whereas GAAP standards comprise 5,000 pages.
Q:
Forward integration strategy is especially effective when the availability of quality distributors is so limited as to offer a competitive advantage to those firms that integrate forward.
Q:
In the United States, the population has been moving from the South and West to the Northeast and Midwest.
Q:
McDonalds currently owns more than 50 percent of its restaurants.
Q:
Mass communication and high technology have ________ in diverse cultures worldwide.
A) created similar patterns of consumption
B) resulted in highly individualized patterns of consumption
C) rendered patterns of consumption identical
D) had little to no effect on patterns of consumption
E) ignored patterns of consumption
Q:
Remaining solely domestic is an increasingly safer strategy for U.S. companies.
Q:
It is predicted that, by 2025, over 18% of the population in the United States will be 65 years or older.
Q:
Strategy implementation is often considered to be the most difficult stage in the strategic-management process because it requires personal discipline, commitment, and sacrifice.
Q:
Contingency plans should be as simple as possible.
Q:
With a divisional structure by customer, an organization can effectively cater to the requirements of clearly defined customer groups.
Q:
Strategists should try to cover all bases by planning for all possible contingencies.
Q:
Europeans are especially motivated by pay-for-performance, commission salaries, and objective measurement and reward systems.
Q:
Since a combination strategy bears no risk, many organizations pursue a combination of two or more strategies simultaneously.
Q:
A low value of the dollar means lower exports and higher imports.
Q:
In socialist countries such as France, Belgium, and the United Kingdom, the only grounds for immediate dismissal from work is a criminal offense.
Q:
Optimizing for tomorrow the trends of today is the purpose of strategic management.
Q:
Strategic objectives include those associated with growth in revenues, growth in earnings, higher dividends, larger profit margins, and improved cash flow.