PLACE Business Education: Strategic Decision Making Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. Pessimistic Time is defined as _____.

Question 2 2. In the strategic management process, which step comes after environmental scanning?

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

Question 4 4. Which of the following is NOT one of the key functions of management?

Question 5 5. What three different perspectives are considered when making a decision?

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Question 6 6. What are key deliverables?

Question 7 7. What are the main components of the strategic management process?

Question 8 8. What are limiting factors?

Question 9 9. Optimistic Time is defined as _____.

Question 10 10. The first step in the decision making process is to

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Question 11 11. What is the purpose of analyzing alternatives?

Question 12 12. How does technology differ from the other functions of management?

Question 13 13. Joe's supervisor has asked how long it will take for him to finish a project. Joe anticipates a 'best case' scenario of 4 hours, a 'worst case' scenario of 8 hours, and a 'probable' scenario of 5 hours. Using the formula to calculate 'Expected Time', Joe should tell his supervisor the project will take _____.

Question 14 14. What must be done before a PERT analysis can take place?

Question 15 15. What is the third step in the decision making process?

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Question 16 16. Why is it important to develop a control and evaluation system?

Question 17 17. A development team at a large global technology company has created a new website to market its products online. It offers a 10-year warranty with some of the best selling water-resistant mobile phones and laptops. The company hopes that the sale of its recently released antivirus system will also increase through this website. Which of the following was an innovation to the company in this scenario?

Question 18 18. Give the best definition of 'globalization.'

Question 19 19. Define how to develop a strategy.

Question 20 20. Give the best definition of 'diversity.'

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Question 21 21. You run one of the departments in a large company that works in government bonds, futures, and other financial papers. One of your coworkers is being tasked with deciding whether or not to invest in an African country that has had a civil war recently, and has been mostly closed off to the media. What would you advise that he do first as he prepares to make his decision?

Question 22 22. Which of the following are we trying to determine when we talk about weight risk?

Question 23 23. Give the best defintion of 'ethics.'

Question 24 24. There are areas that you research when doing an environmental scan

Question 25 25. Weighing risk refers to:

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Question 26 26. What does PERT stand for?

PLACE Business Education: Strategic Decision Making Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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