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Strategic Management in Business Final Exam

Free Practice Test Instructions:

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Question 1 1. Which problem-solving method is designed to work with process-oriented problems?

Question 2 2. Managers use operational plans to _____.

Question 3 3. One of the biggest mistakes a manager can make is to _____.

Question 4 4. Define how to develop a strategy.

Question 5 5. When assessing an organization's external environment a manager is concerned with

Question 6 6. When attempting to solve a problem, why is the divide and conquer strategy useful?

Question 7 7. If Mark is considering having an experimental surgery on his foot to alleviate the pain he has while walking, which of the following is NOT part of the relevant information that he should collect in order to make an informed decision?

Question 8 8. Ricky is a new employee with years of experience in planning. He is committed to the processes and creates a plan that looks one week into the future. Which of his characteristics would be considered a barrier to effective planning?

Question 9 9. Which of the following is the final step in the decision-making process?

Question 10 10. Determining the feasibility, while assessing the costs and benefits comes into play during which phase of the decision-making process?

Question 11 11. If we have an investment of $25,000, and will save $5,000 a year due to that investment, what is the payback time frame in years?

Question 12 12. Why is a tactical plan relevant for the functioning of each company?

Question 13 13. Mark met with four physicians about having surgery on his foot. He has enough money saved to undergo surgery and is able to take off six weeks of paid leave from work. He has an additional two weeks of vacation time, and his mom will stay with him for the first two weeks to help out. Knowing this information, that he is being rational, and that he wants to be free of pain, which alternative should Mark choose?

Question 14 14. What does PERT stand for?

Question 15 15. Once the important questions are answered during the SWOT analysis, managers can begin to place the strengths, weaknesses, opportunities, and threats in the appropriate quadrant of the _____.

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Strategic Management in Business Final Free Practice Test Instructions

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

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