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Ch 9 q First year CH Strategic management is the set of managerial decisions and actions that determines the short-term performance of an organization Answer FALSE The ?rst step in the strategic management process is analyzing the external environment Ans

First year CH Strategic management is the set of managerial decisions and actions that determines the short-term performance of an organization Answer FALSE The ?rst step in the strategic management process is analyzing the external environment Answer FALSE Within an industry an environment can present opportunities to one organization and pose threats to another Answer TRUE Evaluating an organization's intangible assets is part of doing an internal analysis in the strategic management process Answer TRUE Activities that an organization does well or resources that it has available are called capabilities Answer FALSE Exceptional or unique organizational resources are known as core capabilities Answer FALSE A strong organizational culture may act as a signi ?cant barrier to accepting any changes in organizational strategies Answer TRUE SWOT analysis includes an analysis of an organization's environmental opportunities and threats Answer TRUE The ?nal step in the strategic management process is implementing the objectives Answer FALSE Corporate-level strategies are developed for organizations that run more than one type of business Answer TRUE One method of implementing a growth strategy is to increase production capacity Answer TRUE A trucking company that grows by purchasing a chain of gasoline stations is engaged in horizontal integration Answer FALSE HeshaM HassaN CFirst year CH Diversi ?cation is an example of a corporate retrenchment strategy Answer FALSE If Burger King were to buy out Mom and Pop's Burgers Burger King would be growing by vertical consolidation Answer FALSE A stability strategy is developed when management decides it will remain pro ?table by maintaining the status quo in a rapidly changing external environment Answer TRUE A retrenchment strategy is a renewal strategy designed to address organizational weaknesses that are leading to performance declines Answer TRUE Turnaround is one type of renewal strategy Answer TRUE The BCG matrix evaluates an organization's various businesses to identify which ones o ?er high potential and which drain organizational resources Answer TRUE Stars one of the four business groups in the corporate portfolio mix are characterized by low growth and low market share Answer FALSE is the collection of managerial decisions and actions that determine the long-run performance of an organization A Planning B Goal- oriented management C Strategic management D Leadership Answer C What is a strategic design for how a company intends to pro ?t from its strategies work processes and work activities A business model B strategic model C strategic management model D competitive model Answer A Studies of the factors that contribute to organizational performance have shown relationship between strategic planning and performance A no HeshaM HassaN CFirst year CH B a mixed C a negative D a positive Answer D Why is strategic management important A It has little impact on organizational performance B It is involved in many of the decisions that managers make C Most organizations do not change D Organizations are composed of similar divisions and functions Answer B The ?rst steps of the strategic management process describe the planning that must take place A two B