781. The three organizational levels are:
A. corporate level, business level, functional level
B. corporate level, business unit level, functional level
C. corporate strategy level, business unit level, functional level
D. corporate strategy level, business level, specialist level

782. Which of the following is an example of competing on quick response?
A. a firm produces its product with less raw material waste than its competitors
B. a firm offers more reliable products than its competitors
C. a firm’s products are introduced into the market faster than its competitors’
D. a firm’s research and development department generates many ideas for new products

783. Which one of the following is NOT included in the Porter’s Five Forces model:
A. Potential development of substitute products
B. Bargaining power of suppliers
C. Rivalry among stockholders
D. Rivalry among competing firms

784. What is meant by the term ‘Stakeholder’?
A. A person who is not related with a business.
B. A person who is related with a business.
C. A person who owns a business.
D. A person who purchases the shares of a business.

785. Of the following, which one would NOT be considered one of the components of a mission statement?
A. The target market for XYZ is oil and gas producers as well as producers of chemicals.
B. XYZ shall hire only those individuals who have with sufficient educational levels so as to be of benefit to our customers
C. The customers of XYZ shall include global and local consumers of gas and oil products and domestic users of nontoxic chemicals
D. The technologies utilized by XYZ shall focus upon development of alternative sources of gas and oil so as to remain competitive within the industry

786. The strategic management process is
A. a set of activities that will assure a temporary advantage and average returns for the firm.
B. a decision-making activity concerned with a firm’s internal resources, capabilities, and competencies, independent of the conditions in its external environment.
C. a process directed by top-management with input from other stakeholders that seeks to achieve above-average returns for investors through effective use of the organization’s resources.
D. the full set of commitments, decisions, and actions required for the firm to achieve above-average returns and strategic competitiveness..

787. The goal of the organization’s__________ is to capture the hearts and minds of employees, challenge them, and evoke their emotions and dreams.
A. vision
B. mission
C. culture
D. strategy

788. A firm’s mission
A. is a statement of a firm’s business in which it intends to compete and the customers which it intends to serve.
B. is an internally-focused affirmation of the organization’s financial, social, and ethical goals.
C. is mainly intended to emotionally inspire employees and other stakeholders.
D. is developed by a firm before the firm develops its vision.

789. The environmental segments that comprise the general environment typically will NOT include
A. demographic factors.
B. sociocultural factors.
C. substitute products or services.
D. technological factors.

790. An analysis of the economic segment of the external environment would include all of the following EXCEPT
A. interest rates.
B. international trade.
C. the strength of the U.S. dollar.
D. the move toward a contingent workforce.