Strategic Management BBA

Developing a vision and a mission statement is important because of the following reasons EXCEPT:

• They are useful for large firms only

• They establish organizational culture

• They are the basis for allocating resources

• They translate objectives into work structure

In which of the following phase of strategic management, annual objectives are especially important? 

• Formulation

• Evaluation

• Implementation

• Management

Which group would be classified as a stakeholder? 

• Communities

• Banks

• Suppliers

• All of the given options 

Defensive strategies include all of the following EXCEPT

• Retrenchment

• Acquisition

• Divestiture

• Liquidation

Which of the following is the process of influencing people to accomplish specific objectives?

• Staffing

• Motivating

• Controlling

• Organizing

In Competitive Profile Matrix, the rating 4 indicates what? 

• Major weakness

• Major strength 

• Minor strength

• Minor weakness

Internal analysis involves gathering and analyzing the information about all areas of a firm EXPECT:

• Research and development

• Management information system

• Marketing

• Competitors

In adapting to change an organization must monitor which of the following?

• Ongoing processes

• Internal and external events

• Timely changes

• All of the given options

Which of the following can be considered one of the factors of external opportunities and threats of an organization?

• Production/ operations

• Research & development

• Competitive trends

• Management information system

In the process of developing a mission statement, which of the following is CORRECT?

• To involve as few managers as possible

• To involve as many managers as possible

• To involve upper-level management only

• To involve the board of directors only