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If we were to consider 3 of the first steps moving forward to implement a potent strategic decision-making process, we would: a. 1. Evaluate Current Performance Results, 2. Analyze Internal Factors: Strengths Weaknesses 3. Examine and Evaluate the Current: Mission Objectives Strategies Policies b. 1. Scan and Assess Internal Environment: Structure Culture Resources, 2. Select Strategic Factors (SWOT) considering Current Situation, 3. Analyze External Factors: Opportunities and Threats C' 1. Evaluate Current Performance Results, 2. Examine and Evaluate the Current: Mission Objectives Strategies 3. Review Corporate Governance: Board of Top Management d. 1.Ana|yze Internal Factors: Strengths Weaknesses, 2. Scan and Assess Internal Environment: Structure Culture Resources, 3. Review Corporate Governance: Board of Directors Top Management What does it mean to have a long-term effective strategy formulation? a. Mission, Objective, Strategies and policies. b. Programs, Budget, Procedures and performances. c. Mission, External Formulation and Policy Writing d. Long term Objectives, Policy Strategy and Potent Mission. The analysis that carries a cohesive sequencing, that can increase along with sustainable choices, a probity that a rm will inherit a generating competitive advantage can be described as: a. Decisive bargaining choices on competitors' income. b. Organizational adopting of policies that are strategy consistent. c. Ajudicious process of strategic management d. Ajudicious and critical process in strategic applications and management. e. An in depth analysis used by a firm on formal organizational structure, also on its informal management control systems. and its employee compensation policies. Experts will argue that most mission statements will carry congruity elements, and most will: a. Will carry rhetorical elements to convince. b. Use their mission to strategize and create significance. c. Entice, disclose intention and patterns to create a competitive advantage. d. Disclose unique things about the firm, with an intention to deceive creating advantage. What can be THREE (3) of the most highly rated benefits in strategic a. Clearer sense of strategic vision for the firm and a sharper focus on what is strategically important as well as an improved understanding of a rapidly changing environment. b. A vision of the fundamental rights and freedoms ofthe employee in the business. c. A sustainable plan, value incorporation and trust in your customers. d. A sense of purpose, compensation and big gains in the latter future. 6. In a Comprehensive Strategic Management Model, we rst develop vision and mission statements. We then, in order follow: a. Long term objectives, Generate, evaluate and select strategies. perform audit. b. Long term objectives, Generate, evaluate and select strategies, implement management strategies. c. Generate, evaluate and select strategies, implement strategies, measure and evaluate performance. d. Implement management strategies, measure and evaluate performance, implement Marketing Strategies In actual practice, wide variations exist in the nature, composition, and use of both vision and mission statements. This is how a functioning business has its views. a. To ensure purpose within the customer sphere b. To specify organizational purposes and then to translate these purposes into directives in such a way that employee value, time, and retrenchment parameters can be assessed and controlled. c. To provide a basis. or standard, for allocating organizational resources d. To ease the objectives into structure involving the delegating of tasks to responsible staffwithin the organization Social, environmental, demographic and cultural forces have a major impact on most business operations including products, services, markets, and customers. Because of this: a. Business firms often decide to close off, simply go bankrupt. b. Businesses are being stalled and being challenged on their opportunities and threats. c. Businesses are often advised to relocate and change their strategy. d. Businesses are forced to introduce an alternate analysis of the rm VRIO is an integration mechanism cohesively knit (2) two existing theoretical frameworks: a. the positioning perspective and the analytical. b. the resource based View and thejudicious. c. the resourcebased View as a primary and the internal analysis as a secondary. d' It stands for the resource based View and the positioning perspective. We may have a different definition of strategy but define strategy as it contends to our text's position for BADM 439 Strategic Management. O a. A business strategy is defined on how to manage competitive disadvantages and apply alternate solutions. O b. A firm's strategy is defined as a theoretical hypothesis on how to establish best practices growing financial worth. c. A business strategy can be best defined as a fundamental theory about how to gain and maintain competitive advantage. O d. Definition of strategy depends on the business assumptions and hypotheses that take precedence as a result of inaccuracy.What are the 5 major external forces that affect business operations? a. Economic, social, cultural, demographic, and private sector. b. Social investment funding, town council taxing, demographic, environmental, political c. Economic, cultural, environmental, financial and human resource appraisal d. Political, Competitive, legal, technological, and environmental. When we refer to vertical integration and its level into a business value chain, we can very well be referring to a. The number of steps in a firm accomplishes certain achievements periodically. b. The number of acquisitions in the value chain that a firm accepts during a business year. c. The counted of integrations with value chain accomplishes within its boundaries. d. Steps in the business world attained by a firm accomplished within its boundaries. In markets, almost all operations' managers coordinate the quantity and quality of goods and services produced. If we would say that in rms the contrary is done, then: a. In firms, subordinate staffare centralized and monitor top management on their ideas. b. In business firms there is centralized control, and all decision making is about money. c. In Firms there is control by the managers and top management of subordinate staff. d. In Firms there is control by the managers and top management of subordinate staffwho in turn battle each other for positions. When a business seeks to simultaneously seek competitive advantage in various businesses, it is called: a. A strategy of corporate alliance. b. A revolutionary strategy of understanding. c. A strategy of competitive advantage d. A multi - faceted strategy Strategic decisions are sometimes the last resort, as in retrenchment of employees to balance off the salary cap. These decisions often deal with long term mode of operations of an entire organization. These have 3 major characteristics; they are: a. Strategic rarity, planning mode and review decision making b. Audit aiding, strategic posture and consequential strategic decisions c. Consequential, rare and directive strategy decisions making. d. Functional strategy, fonNard integrated and vertical strategy