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Strategic Management and Managerial 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. There are areas that you research when doing an environmental scan

Question 2 2. Weighing risk refers to:

Question 3 3. In the strategic management process, what is environmental scanning?

Question 4 4. In PERT analysis, what is the definition of optimistic time (O)?

Question 5 5. Why are simulations useful?

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Question 6 6. What is globalization?

Question 7 7. In PERT analysis, what is the definition of most likely time (M)?

Question 8 8. What is innovation?

Question 9 9. How does technology differ from the other functions of management?

Question 10 10. Which of the following best defines payback analysis?

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Question 11 11. Why do managers use decision-making tools?

Question 12 12. Which of the following are we trying to determine when we talk about weight risk?

Question 13 13. Define how to develop a strategy.

Question 14 14. Why is it important to develop a control and evaluation system?

Question 15 15. One of the biggest mistakes a manager can make is to _____.

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Question 16 16. What is technology?

Question 17 17. Give the best defintion of 'ethics.'

Question 18 18. A development team at a large global technology company sells antivirus systems and and offers a 10-year warranty for its bestselling water-resistant laptops and mobile phones. The team has just developed a new interactive website to market its products online. Which of the following would most likely be considered an innovation?

Question 19 19. The first step in the decision making process is to

Question 20 20. In the strategic management process, which step comes after environmental scanning?

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Question 21 21. What are the four key functions managers focus on?

Question 22 22. What is the purpose of analyzing alternatives?

Question 23 23. Pessimistic Time is defined as _____.

Question 24 24. 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 25 25. Why might we perform a payback analysis on a proposed investment?

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Question 26 26. If we estimate the time to complete a project assuming everything goes wrong, what are we calculating (in PERT analysis)?

Question 27 27. What is diversity?

Question 28 28. What are key deliverables?

Question 29 29. Give the best definition of 'diversity.'

Question 30 30. What three different perspectives are considered when making a decision?

Strategic Management and Managerial 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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