Strategy evaluation is necessary because

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Reference no: EM133944117

Questions

1. What steps in the strategic development process involves mobilizing employees and managers to put strategies in action?

a) Formulation strategy

b) Strategy evaluation

c) implementation strategy

d) Strategic advantage

2. During which stage of strategic management are a firm's specific internal strengths and weakness determined?

a) Formulation

b) implementation

c) Evaluation

d) Feedback

3. What types of skills are especially critical for the successful strategy implementation?

a) interpersonal

b) marketing

c) technical

d) conceptual

4. The term "environment" includes all of the following except:

a) air

b) water

c) firms

d) natural reosurces

5. The venture team should consist of all but one of the following:

a) lenders

b) key staff

c) Advisers

d) Board of directors

e) All of the above should be included

6. Strong cultures contain all but one of the following

a) broad agreement on values

b) inarticulate cultural network

c) fit between themselves and their environment

d) All of the above

7. Inexperienced entrepreneurs make use of ____________________________ to facilitate the writing of business plan

a) Partnership status

b) the internet

c) university officers

d) all of the above

e) none of the above

8. Location is applicable to which of the following factors?

a. Marketing

b. operations

c. research

d. all of the above

9. Self-financing involves all but one of the following:

a. risk

b. collateral

c. use of personal funds

d. use of complementary funds

e. all of the above are correct

10. Factors affecting the extent of the business plan include:

a. cost, management style & ability, complexity of the environment

b. cost, personal financing capacity, complexity of the environment

c. cost, research ability, complexity of the environment

d. all of the above

e. none of the above

11. Anything that a firm does especially well compared to rivals is referred to as:

a. competitive advantage

b. comparative advantage

c. opportunity cost

d. sustainable advantage

12. Strategy evaluation is necessary because

a. internal and external factors are constantly changing

b. the SEC requires strategy evaluation

c. competitor change their strategies

d. the IRS requires strategy evaluation

13. Intrapreneurs tend to operate in an environment that is more _______________ than the environment that entrepreneurs tend to experience

a. uninhabited

b. constrained

c. free

d. resource filled

14. Business plan cannot provide ______________________ in a guaranteed manner

a. business success

b. business management guidance

c. business funding

d. A & B

e. A & C

15. Intrapreneurs and business managers:

a. Are synonymous

b. Are antagonistic with organization

c. Are synergistic with organization

d. Are employed in the same capacity

16. Usually, external opportunities and threats are:

a. uncontrollable by a single organization

b. controlled by government

c. not as important as internal strengths and weakness

d. key functions in strategy implementation and exploitation

17. Entrepreneurship is:

a. individualist act

b. An interdependent act

c. An a-historical act

d. Both A & B are correct

18. Potential risk facing new ventures include:

a. price cutting by competitors

b. longer than expected lead times

c. Achieving sales target

d. all of the above

19. which of the following is not a dimension of entrepreneurial orientation

a. innovativeness

b. Autonomy

c. risk- taking

d. proactiveness

e. all of the above

20. Another term for an intrapreneurial venture is

a. Dot.com

b. Franchise

c. Social venture

d. Spin-off

e. None of the above

21. Which statement best describes intuition?

a. it represents the marginal factor in decision- making

b. it represents a minor factor in decision-making integrated with analysis

c. it should be coupled with analysis in decision making

d. it is better than analysis in decision making

22. In conducting a market and industry analysis, ____________________________ can be ignored.

a. total industry sales

b. new product

c. competitors

d. location

e. All of the above

23. The proposed venture section should include all but which one of the followingn?

a. Business concept

b. industry

c. research

d. mission

e. goals

24. Plans that result in unfavourable reactions tends to have all but one of the following shortcomings:

a. product infatuation

b. unrealistic growth projections

c. limits on substantial growth

d. no need for custom engineering

e. all of the above

25. Debt financing pertains to all but one of the following

a. loans

b. interest

c. Banking sector

d. all of the above

e. none of the above

26. Social capital does not involve which of the following?

a. social relations

b. education

c. trust

d. all of the above are correct

27. Which of the following is not a directly applicable financial issue?

a. Projection

b. Funding sources

c. funding charges

d. development

e. plan schedule

28. Which of the following is most correct

a. Entrepreneurship is affected by personal trust as opposed to institutional trust

b. Entrepreneurship is affected by institutional trust as opposed to personal trust

c. Entrepreneurship is affected by a mixture personal and institutional trust

d. none of the above

29. Social exchange occurs between entrepreneurs and which of the following actors?

a. investors

b. media

c. government

d. all of the above

30. One of the following is not example of a source of equity finance:

a. shareholder capital

b. close corporations

c. sole proprietors

d. all of the above are examples

Reference no: EM133944117

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