MGT498 MCQ's A+ Answers
E.Used to identify strengths and weaknesses
Who said that the social responsibility of business is a "fundamentally subversive doctrine" and that the one social responsibility of business is "to use its resources and engage in activities designed to increase its profits so long as it stays with the rules of the game..."?
According to Porter, the corporation is most concerned with
A.the intensity of competition within its industry
B.the aggregate level of demand for a product line
C.a market's position on its life cycle
D.the amount of pressure from the societal environment
E.the level of government action in an industry
Which of the following is NOT descriptive of external environmental scanning?
A.Used as a tool to ensure a corporation's long-term health
B.Used to monitor, evaluate, and disseminate information from the external environment to key people within the corporation
C.Used to identify opportunities and threats
D.It is a tool that corporations use to avoid strategic surprise
The relationship among the board of directors, top management, and shareholders is referred to as
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?
C.Statistical process control
D.Evaluation and control
Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is
B.basic financial planning
D.William C. Norris
The concept that proposes private corporations have responsibilities to society that extend beyond making a profit is known as
An acronym for the assessment of the external and internal environments of the business corporation in the process of strategy formulation/strategic planning is
When a company determines a competency's competitive advantage, Barney refers to this issue as
In a survey of 50 corporations, which of the following was rated as a benefit of strategic management?
A.Clearer sense of vision for the firm
B.Higher levels of employee motivation
C.Higher levels of job satisfaction
E.Lower employee turnover
Suboptimization occurs when
a division or functional unit views itself as a separate entity and refuses to cooperate with other divisions or units to the detriment of the organization as a whole
there is a failure to produce at or near full capacity
individuals are placed into positions not suited to their abilities
managers tend to focus more of their attentions on those aspects which are measurable than on those which are not
managers concentrate too much on short-term performance objectives
Which company experienced a tarnished reputation and scandal after experiencing behavior substitution when employees altered their behavior on the job to fit the reward system?
A. Sears, Roebuck, & Co.
B. J.C. Penney
C. Neiman Marcus
Because of the belief that accounting-based numbers such as ROI, ROE, and EPS are not reliable indicators of a corporation's economic value, which method of corporate performance is now preferred?
A. Shareholder value
B. Basic earning power
C. Price/earnings ratio
D. Profit margin on sales
E. Return on assets
Which is the MOST commonly used measure of corporate performance (in terms of profit)?
Which one of the following is NOT a part of the evaluation and control of performance?
A. Establish corporate strategies.
B. Determine what to measure.
C. Establish standards for performance.
D. Measure actual performance.
E. Take corrective actions.
Who typically implements strategy in large, multi-industry corporations?
A. The board of directors
B. Top management
C. Middle management
D. First level management
E. Everyone in the organization
The sum total of the activities and choices required for the execution of a strategic plan is known as in
A. strategic formulation
B. environmental scanning
C. strategy implementation
D. evaluation and control
E. strategic development
According to the text, what is the "key" to effective management of change in culture?
Executives with a particular mix of skills and experiences may be classified as an executive type and paired with
A. a specific personal characteristic
B. a specific corporate strategy
C. a certain educational background
D. a specific experience background
E. a specific industry