Strategic Management - Study Mode

[#61] Job titles that refer to strategists include which of the following?
Correct Answer

(D) Owner, dean, president, and executive director

Explanation

Solution: Job titles that refer to strategists include Owner, dean, president, and executive director. A job title can describe the responsibilities of the position, the level of the job, or both. For example, job titles that include the terms “executive,” “manager,” “director,” “chief,” “supervisor,” etc. are typically used for management jobs.

[#62] Relative deficiency or superiority is important information in performing which activity?
Correct Answer

(C) Internal audit

Explanation

Solution: Relative deficiency or superiority is important information in performing Internal audit. Internal audits evaluate a company's internal controls, including its corporate governance and accounting processes. They ensure compliance with laws and regulations and help to maintain accurate and timely financial reporting and data collection.

[#63] Who is most responsible for developing, communicating, and enforcing the code of business ethics for a firm?
Correct Answer

(A) Strategists

Explanation

Solution: Strategists is most responsible for developing, communicating, and enforcing the code of business ethics for a firm. A strategist is someone who is skilled in planning the best way to gain an advantage or to achieve success.

[#64] Strategy-implementation activities include
Correct Answer

(D) establishing annual objectives

Explanation

Solution: Strategy-implementation activities include establishing annual objectives. The strategic plan addresses the what and why of activities, but implementation addresses the who, where, when, and how.

[#65] In a large organization, strategic management activities occur at what level(s)?
Correct Answer

(B) Functional, business and corporate

Explanation

Solution: In a large organization, strategic management activities occur at Functional, business and corporate. Strategy formulation, implementation, and evaluation activities occur at three hierarchical levels in a large organization: corporate, divisional or strategic business unit, and functional.