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Strategic Management: Multiple Choice Questions and Answers, Exams of Nursing

Hampton University (HU)Nursing

A series of multiple choice questions and answers related to strategic management. It covers key concepts such as competitive advantage, stakeholder analysis, and corporate social responsibility. The questions are designed to test understanding of fundamental principles and their application in business contexts.

Typology: Exams

2024/2025

Available from 03/08/2025

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SEVI 3013 McGraw Hill Exam Questions
and answers 2025
Which .of .the .following .elements .comprise .strategic .management? .- .CORRECT
.ANSWER--analysis .
-implementation
-formulation
Burger .Bomb .is .a .new .hamburger .restaurant. .In .order .to .compete .successfully
.against .its .many .competitors, .Burger .Bomb .has .decided .to .focus .on .quality
.and .an .interesting, .unique .menu .that .uses .locally .sourced, .organic .ingredients.
.These .ideas .are .Burger .Bomb's .___________________. .- .CORRECT .ANSWER-
strategy
When .a .firm .implements .a .strategy .that .leads .to .superior .performance .relative
.to .other .companies .in .the .same .industry, .it .is .said .to .have .achieved
._______________. .- .CORRECT .ANSWER-a .competitive .advantage
A .competitive .advantage .________. .- .CORRECT .ANSWER-is .assessed .relative
.to .other .competitors .in .the .industry
Sustainable .competitive .advantage .exists .when .a .firm .____________. .-
.CORRECT .ANSWER-maintains .superior .performance .relative .to .its .industry
.over .a .long .period .of .time
What .is .the .overall .purpose .of .strategic .management? .- .CORRECT .ANSWER-
Gain .competitive .advantage
A(n) .___________ .occurs .when .a .firm .performs .below .the .industry .average .or
.is .outperformed .by .its .competitors. .- .CORRECT .ANSWER-competitive
.disadvantage
What .is .strategy? .- .CORRECT .ANSWER-the .set .of .actions .a .firm .takes .to
.achieve .a .competitive .advantage
Michael's .Deli .is .able .to .perform .at .the .same .level .as .its .primary .competitor.
.Michael's .Deli .has .- .CORRECT .ANSWER-competitive .parity
What .is .the .overall .purpose .of .a .firm's .strategy? .- .CORRECT .ANSWER-Perform
.better .than .other .companies .in .the .same .industry.
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SEVI 3013 McGraw Hill Exam Questions

and answers 2025

Which .of .the .following .elements .comprise .strategic .management? .- .CORRECT .ANSWER--analysis.

  • implementation
  • formulation Burger .Bomb .is .a .new .hamburger .restaurant. .In .order .to .compete .successfully .against .its .many .competitors, .Burger .Bomb .has .decided .to .focus .on .quality .and .an .interesting, .unique .menu .that .uses .locally .sourced, .organic .ingredients. .These .ideas .are .Burger .Bomb's .___________________. .- .CORRECT .ANSWER- strategy When .a .firm .implements .a .strategy .that .leads .to .superior .performance .relative .to .other .companies .in .the .same .industry, .it .is .said .to .have .achieved ._______________. .- .CORRECT .ANSWER-a .competitive .advantage A .competitive .advantage .________. .- .CORRECT .ANSWER-is .assessed .relative .to .other .competitors .in .the .industry Sustainable .competitive .advantage .exists .when .a .firm .____________. .- .CORRECT .ANSWER-maintains .superior .performance .relative .to .its .industry .over .a .long .period .of .time What .is .the .overall .purpose .of .strategic .management? .- .CORRECT .ANSWER- Gain .competitive .advantage A(n) .___________ .occurs .when .a .firm .performs .below .the .industry .average .or .is .outperformed .by .its .competitors. .- .CORRECT .ANSWER-competitive .disadvantage What .is .strategy? .- .CORRECT .ANSWER-the .set .of .actions .a .firm .takes .to .achieve .a .competitive .advantage Michael's .Deli .is .able .to .perform .at .the .same .level .as .its .primary .competitor. .Michael's .Deli .has .- .CORRECT .ANSWER-competitive .parity What .is .the .overall .purpose .of .a .firm's .strategy? .- .CORRECT .ANSWER-Perform .better .than .other .companies .in .the .same .industry.

The .stakeholders .of .a .firm .are ._________________. .- .CORRECT .ANSWER- individuals .or .groups .that .can .affect .and .are .affected .by .the .actions .of .the .firm In .order .to .determine .if .Home .Depot .has .a .competitive .advantage, .we .must .compare .Home .Depot's .performance .to .- .CORRECT .ANSWER-the .performance .of .other .firms .in .its .industry Who .among .the .following .are .considered .internal .stakeholders? .- .CORRECT .ANSWER--employees

  • stockholders
  • board .members A .competitive .advantage .that .lasts .for .a .long .period .of .time .is .said .to .be ._________________. .- .CORRECT .ANSWER-sustainable Effective .stakeholder .management ._____________. .- .CORRECT .ANSWER-helps .a .firm .build .a .strong .public .reputation If .a .firm .has .a .10% .return .on .invested .capital .while .the .industry .average .return .on .invested .capital .is .18%, .the .firm .has .a(n) .______________. .- .CORRECT .ANSWER-competitive .disadvantage Stakeholder .impact .analysis .is .a .___________-step .process .that .allows .managers .to .better .understand .and .address .stakeholders' .needs. Multiple .choice .question. .- .CORRECT .ANSWER-five When .does .a .situation .of .competitive .parity .exist? .- .CORRECT .ANSWER-Two .or .more .firms .achieve .the .same .performance .results. Which .of .the .following .are .the .three .important .stakeholder .attributes .managers .must .pay .particular .attention .to .during .stakeholder .impact .analysis? .- .CORRECT .ANSWER--power
  • urgency
  • legitimacy Which .of .the .following .are .the .relationships .that .a .firm .has .with .stakeholders? .- .CORRECT .ANSWER--The .actions .of .the .firm .can .affect .stakeholders.
  • Stakeholders .can .affect .the .firm's .actions. Which .of .the .following .questions .are .part .of .the .five .steps .in .stakeholder .impact .analysis? .- .CORRECT .ANSWER--Who .are .our .stakeholders?
  • What .are .our .stakeholders' .interests .and .claims?
  • What .opportunities .and .threats .do .our .stakeholders .present? Customers, .suppliers, .creditors, .unions, .and .governments .are .known .as .________. .- .CORRECT .ANSWER-external .stakeholders

Which .of .the .four .corporate .social .responsibilities .is .considered .first .and .foremost .for .business .enterprises? .- .CORRECT .ANSWER-economic Which .of .the .following .legal .developments .allow .business .to .function .as .an .institution? .- .CORRECT .ANSWER--contract .enforcement

  • property .rights Internet .privacy, .genetic .engineering, .and .stem-cell .research .are .examples .of .areas .in .which .a .firm's .__________ .responsibilities .exceed .its .legal .responsibilities. .- .CORRECT .ANSWER-ethical Microsoft .donating .more .than .$3 .billion .in .cash .and .software .to .people .in .need .is .an .example .of .which .type .of .corporate .social .responsibility? .- .CORRECT .ANSWER-philanthropic Which .of .the .following .elements .of .the .pyramid .of .corporate .social .responsibility .are .required .by .society .and .shareholders? .- .CORRECT .ANSWER-
  • Legal .responsibilities
  • Economic .responsibilities Drag .the .type .of .business .action .to .the .appropriate .element .of .the .pyramid .of .corporate .social .responsibility. .- .CORRECT .ANSWER-philanthropic .responsibilities .----> .corporate .citizenship ethical .responsibilities .----> .do .what .is .right, .just, .and .fair legal .responsibilities .----> .define .minimum .standard .under .the .law economic .responsibilities .----> .gain .and .sustain .competitive .advantage