Strategic Management

8161 Words Mar 10th, 2013 33 Pages
Strategic Management: Concepts and Cases, 13e (David) Chapter 1 The Nature of Strategic Management 1) Strategic management focuses on integrating management, marketing, finance/accounting, production/operations, research and development, and information systems to achieve organizational success. Answer: TRUE Diff: 1 Page Ref: 6 Topic: Introduction Objective: 1.01 Describe the strategic-management process. 2) Optimizing for tomorrow the trends of today is the purpose of strategic management. Answer: FALSE Diff: 1 Page Ref: 6 Topic: What Is Strategic Management? Objective: 1.01 Describe the strategic-management process. 3) Even though useful, strategic planning has been cast aside by corporate America since the early 1990s. Answer: FALSE …show more content…
Objective: 1.02 Explain the need for integrating analysis and intuition in strategic management. 16) By occasionally monitoring external events, companies should be able to identify when change is required. Answer: FALSE Diff: 1 Page Ref: 8 Topic: What Is Strategic Management? Objective: 1.01 Describe the strategic-management process. 17) Firms, like organisms, must be "adept at adapting" or they will not survive. Answer: TRUE Diff: 2 Page Ref: 8 Topic: What Is Strategic Management? Objective: 1.01 Describe the strategic-management process. 18) To say U.S. firms are being challenged in the automobile industry is an inaccurate statement. Answer: FALSE Diff: 2 Page Ref: 9 Topic: What Is Strategic Management? Objective: 1.01 Describe the strategic-management process. 19) Anything the firm does especially well compared to rival firms could be considered a competitive advantage. Answer: TRUE Diff: 1 Page Ref: 9 Topic: Key Terms in Strategic Management Objective: 1.03 Define and give examples of key terms in strategic management.

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20) Once a firm acquires a competitive advantage, they are usually able to sustain the competitive advantage indefinitely. Answer: FALSE Diff: 2 Page Ref: 9 Topic: Key Terms in Strategic Management Objective: 1.07 Discuss how a firm may achieve sustained competitive advantage. 21) Newspaper companies in the United States provide
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