Chap 1 of Strategic Managment

Chapter 01

What Is Strategy, and Why Is It Important?

Multiple Choice Questions

1. | Keeping in mind Apple's competitive advantage, which of the following products was introduced by Apple in 2007? 

A.  | iPad |

B.  | iPhone |

C.  | iPod |

D.  | iTunes |

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2. | _____ is best described as an integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage. 

A.  | Supply chain management |

B.  | Integrated technology management |

C.  | Strategic management |

D.  | Inventory management |

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3. | _____ is best described as a set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors. 

A.  | Behavior modification |

B.  | Strategy |

C.  | Credo |

D.  | Competency management |

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4. | Which of the following stages of the strategic management process involves an evaluation of a firm's external and internal environments? 

A.  | Strategy analysis |

B.  | Strategy implementation |

C.  | Strategy formulation |

D.  | Strategy control |

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5. | In _____, a firm frames a guiding policy to address the competitive challenge. 

A.  | strategy control |

B.  | strategy implementation |

C.  | strategy formulation |

D.  | strategy analysis |

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6. | Through _____, a firm puts its guiding policy into practice by employing a set of coherent actions. 

A.  | strategy control |

B.  | strategy implementation |

C.  | strategy formulation |

D.  | strategy analysis |

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7. | A firm that achieves superior performance relative to other firms in the same industry or the industry average has a(n) _____. 

A.  | competitive advantage |

B.  | balanced scorecard |

C.  | power position |

D.  | equity leverage |

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8. | Cadia Foods Inc. was the first company to start selling energy drinks in its country—a product that gained popularity among diverse groups. Soon, other...