Podcast
Questions and Answers
Business-level managers are responsible for developing functional strategies in specific business operations.
Business-level managers are responsible for developing functional strategies in specific business operations.
False
Function-level managers provide most of the information needed by general managers to formulate realistic strategies.
Function-level managers provide most of the information needed by general managers to formulate realistic strategies.
True
The formal strategic process consists of three main steps.
The formal strategic process consists of three main steps.
False
Business-level managers oversee the strategic development of a firm and its owners.
Business-level managers oversee the strategic development of a firm and its owners.
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Function-level managers are responsible for determining what business a company should be in.
Function-level managers are responsible for determining what business a company should be in.
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One of the roles of a business-level manager is to formulate and implement strategies at the individual business level.
One of the roles of a business-level manager is to formulate and implement strategies at the individual business level.
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SWOT analysis in strategic management focuses only on internal factors of a company.
SWOT analysis in strategic management focuses only on internal factors of a company.
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The purpose of external analysis in strategic management is to identify strategic opportunities and threats within the organization's operating environment.
The purpose of external analysis in strategic management is to identify strategic opportunities and threats within the organization's operating environment.
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Competitive structure of the industry is not considered in external analysis of strategic management.
Competitive structure of the industry is not considered in external analysis of strategic management.
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Internal analysis in strategic planning focuses on reviewing the financial performance only.
Internal analysis in strategic planning focuses on reviewing the financial performance only.
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SWOT stands for Strengths, Weaknesses, Opportunities, and Threats in strategic management.
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats in strategic management.
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The goal of internal analysis in strategic planning is to focus on external opportunities and ignore weaknesses.
The goal of internal analysis in strategic planning is to focus on external opportunities and ignore weaknesses.
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Functional-level strategies focus on improving customer service and production efficiency within a company.
Functional-level strategies focus on improving customer service and production efficiency within a company.
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Business-level strategies only involve cost leadership as the main competitive advantage approach.
Business-level strategies only involve cost leadership as the main competitive advantage approach.
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Global strategies solely focus on expanding operations within the home country to maximize profitability.
Global strategies solely focus on expanding operations within the home country to maximize profitability.
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Corporate-level strategies primarily deal with deciding how to minimize company weaknesses for long-term growth.
Corporate-level strategies primarily deal with deciding how to minimize company weaknesses for long-term growth.
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Managers compare and contrast different alternative strategies to identify those that will not sustain a competitive advantage.
Managers compare and contrast different alternative strategies to identify those that will not sustain a competitive advantage.
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Business-level strategies determine how a company positions itself in the market to gain a competitive advantage.
Business-level strategies determine how a company positions itself in the market to gain a competitive advantage.
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