2. Which of the following best defines shareholder value? a. It refers to the rerurns that shareholders earn from purchasing shares in a company. b. It refers to the capital invested in a company by the shareholders. c. It refers to the efforts taken by a company to sell its shares to prospective shareholders. d. It refers to the efforts taken by a company to buy back its shares from its shareholders. 3. Within a diversified company, the responsibilities of corporate-level strategic managers include: b. compiling sales reports, company costs, employee productivity, and calculating the employee tumover rate. a. supervising production at the manufacturing units of the company. d. providing leadership for the entire organization and allocating resources among its different business areas. e. responding to employee complaints on a daily basis. 4. Philip oversees the processes of the research and development department of his company. He is responsible for all of the activities and tasks undertaken by the department. In the context of strategic management, Philip is most likely to be a: a. corporate-level general manager. b. functional manager. c. managing director. d. chief executive officer (CEO). 5. Which of the following statements about functional-level managers is true? a. They oversee the operation of an entire company or division. b. Their sphere of responsibility is generally confined to one organizational activity. c. Their activities and roles have no importance in realizing the strategic goals of an d. They provide a link between the people who oversee the strategic development of a firm and organization. those who own the firm. 6. The first component of the strategic management process is: a. crafting the organization's mission statement. b. coming up with a damage control plan. c. analyzing the macro-environment. d. determining the firm's employee turnover rate