MGT 498 Final Exam Guide Latest Version/MGT 498 Final Exam Guide Latest Version

1) In a survey of 50 corporations, which of the following was rated as a benefit of strategic management?

Clearer sense of vision for the firm 

Higher levels of employee motivation 

Higher levels of job satisfaction 

Improved productivity 

Lower employee turnover

2) Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is

externally-oriented planning

basic financial planning 

internally-oriented planning 

forecast-based planning 

strategic management

3) Strategic management is that set of managerial decisions and actions that determine the long-run performance of a corporation. Which one of the following is NOT one of the basic elements of the strategic management process?

strategy formulation 

strategy implementation 

statistical process control 

evaluation and control 

environmental scanning