The PESTEL analysis is the widely used tool to analyze the macroenvironment.
*
True
False
Having a poor brand image is considered as the weakness of the firm. *
True
False
High initial capital investment may be a factor to have a high barrier to entry. *
True
False
As the relative price of substitute items falls and consumers' switching costs fall,
competitive pressures from substitute products increase. *
True
False
Political differs from legal factors in a sense that the former concerned on a special
laws and regulations. *
True
False
When backward integration is a widespread practice among competitors in a sector,
firms may usually negotiate better terms with suppliers. *
True
False
Generally, if a company wants to target the potential customers in a “bachelor” stage
of the lifecycle, they must offer them something that a family can use. *
True
False
The COVID-19 pandemic brings nothing but negative effect to all of the sectors like
business sector. *
True
False
Strategic management focuses on the separation of business activities for efficient
process. *
True
False
Economic crisis is considered as the weakness of the firm. *
True
False
Mission statements are something that firms try to accomplish. *
True
False
When a company can do something that competitors can't or owns something that
competitors want, it is what competitive advantage is about. *
True
False
Vision statement is the reason why the business exists. *
True
False
Mission statement must incorporate your “actual” product. *
True
False
Competition increases as the customers can switch from one brand to another brand
easily. *
True
False
Strategic planning often refers to strategy formulation only. *
True
False
The intensity of rivalry amongst companies are the similar across industries. *
True
False
Strategic management is frequently denoted as strategic planning with the strategic
planning often used in business world. *
True
False
Vision statement are the specific statements that the company want to achieve. *
True
False
Vision statements are often the first step in strategic planning. *
True
False
Having a competent employee is considered as the strength of the company. *
True
False
Strategic management is more broad than strategic planning. *
True
False
Vision statements are something that firms try to achieve. *
True
False
Mission statement must have all of the nine components to be considered as good
mission statement. *
True
False
Customers' bargaining power is a major force determining the intensity of competition
in a sector when they are concentrated, huge, or buy in bulk. *
True
False
Strategies are the means of achieving your firm’s long-term objectives. *
True
False
Strategic management helps firm achieve and maintain competitive advantage. *
True
False
The owners of small businesses cannot be considered as strategists since they are
just managing a “small” number of people. *
True
False
The free flow of knowledge on the Internet is lowering costs and inflation around the
world. *
True
False
Microenvironment includes the firms, customers, competitors and etc. *
True
False
Macroenvironment includes the political, economic, technological, and etc. *
True
False
ACMA company wants to target the potential customers in the Empty Nest stage of
the lifecycle, therefore, they must offer products/services for home improvement. *
True
False
Inflation rate is one of the controllable factors of the firm. *
True
False
Ms. Mary Grace Soriano, a business of ACMA company, is in the strategy evaluation
phase if she is planning to enter the international market. *
True
False
Developing a vision and mission statements are not the importance as developing
your strategies. *
True
False
Ms. Janine Lyka De Vera, a business owner of BSMA company, is in the strategy
formulation phase if she thinks about what new businesses to venture. *
True
False
A clear Mission statement must define the principles and priorities of an
organization. *
True
False
Strategy implementation is typically where you measure the firm’s performance. *
True
False
In many sectors, it is more cost-effective to engage outside component suppliers than
self-manufacture the supplies needed. *
True
False
When the products to buy are usual or identical, consumers have more bargaining
power. *
True
False
Vision statement answers the question “what do we want to become?”. *
True
False
The complexity of relationships among corporate functional domains is exemplified by
financial ratio analysis. *
True
False
Strategic management is based on pure science since it is often termed as the logical
ways and methodical style for making key decisions in a company. *
True
False
Usually, Porter’s five forces model is used to analyze the microenvironment. *
True
False
Objectives are precise outcomes that an organization aspires to achieve in order to
fulfill its primary mission. *
True
False
Long term objectives are the same as in your annual objectives. *
True
False
Strategy evaluation is usually where the execution of strategies happens. *
True
False
It pertains to innovation in technology and the regulations surrounding technology *
Your answer
It refers to all those managerial activities directed toward ensuringthat actual results
are consistent with planned results. *
Your answer
It can be defined as the process of influencing people to accomplish specific
objectives *
Your answer
These are activities centered on personnel or human resource management. *
Your answer
It is approach to competitive advantage contends that internalresources are more
important for a firm than external factors in achieving and sustaining competitive
advantage. *
Your answer
It involves issues such as the natural environment, global warming, and sustainable
economic growth. *
Your answer
It consists of all those managerial activities related to preparingfor the future. *
Your answer
It is the art and science of formulating, implementing,and evaluating cross-functional
decisions that enable an organization to achieve its objectives. *
Your answer
It is anything that a firm does especially well compared to rival firms. *
Your answer
What is the first stage in strategic management process? *
Your answer
What is the second stage in strategic management process? *
Your answer
What is the third stage in strategic management process? *
Your answer
It includes all those managerial activities that result in a structure of task and authority
relationships *
Your answer
Back
Submit
