MG-495 MIDTERM EXAMINATION

MG - 495 Business Policy Mid-Term Examination - (Chapters 1 - 5 are covered)
There are 25 multiple choice questions (each worth 3 points) and 5 short answer/essay questions (each worth 9 points) for a total of 120 possible points. All of the questions for this exam can be answered by simply using the text.

Multiple Choice Questions – Each question worth 3 points

1. Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is _____.
a. externally oriented planning
b. basic financial planning
c. internally oriented planning
d. forecast based planning
e. strategic management

2. One of the benefits of globalization is _____.
a. economies of …show more content…

a. the Delphi technique
b. statistical modeling
c. trend extrapolation
d. trend impact analysis
e. morphological analysis

17. The two interacting environments that provide the variables and forces affecting how an organization operates and exists are the _____.
a. competitive and task environments
b. government and competitive environments
c. economic and local environments
d. task and societal environments
e. resource and economic environments

18. One criterion used in evaluating intelligence gathering is _____.
a. the truthfulness and reliability of the information
b. the ability to transfer the information into revenues
c. the ability to use the information in cost reduction
d. the ability for lower level employees to understand the information
e. the opportunity for suppliers to lower their costs

19. When an industry becomes hypercompetitive, it is characterized by _____.
a. high entry barriers
b. low rivalry
c. short product life cycles
d. industry fragmentation
e. sustainable competitive advantages

20. Industry analysis is primarily concerned with a corporation's _____.
a. societal environment
b. task environment
c. socio-cultural environment
d. economic environment
e. internal environment

21. The ability of a corporation to effectively and efficiently manage its research and development effort (obtain better performance) is referred to as