SMU - STRATEGIC MANAGEMENT AND BUSINESS POLICY SET-1 1.

What can be defined as the art and science of formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives? a. b. c. d. e. Strategy formulation Strategy evaluation Strategy implementation Strategic management Strategic leading

2. Which of the follo ing is not a cultural product? a. . c. d. e. !ites Em!ti!n" !ituals Sagas Symbols

". Which individuals are most responsible for the success and failure of an organization? a. b. c. d. e. Strategi"t" #inancial planners $ersonnel directors Sta%eholders &uman resource managers

'. Which sector of the economy ould be most impacted by technological developments? a. . c. d. e. forestry #$armace%tica&" te(tiles metals paper

). *ong-term objectives should be all of the follo ing e(cept+ a. . c. d. e. measurable. c!ntin%a&&' c$anging. reasonable. challenging. consistent.

,. What are guides to decision ma%ing? a. b. c. d. e. la s rules #!&icie" procedures goals

-. .ccording to /reenley, strategic management offers all of these benefits except that a. b. c. d. e. it provides an objective vie of management problems. it creates a frame or% for internal communication among personnel. it encourages a favorable attitude to ard change. it ma(imi)e" t$e e**ect" !* ad+er"e c!nditi!n" and c$ange". it gives a degree of discipline and formality to the management of a business.

0. 1he vision and mission statement can often be found a. . c. d. e. in the S23 report. in ann%a& re#!rt". on customer receipts. on supplier invoices. on community ne s bulletins

4. Which group ould be classified as a sta%eholder? a. b. c. d. e. 3ommunities 5an%s Suppliers 2mployees A&& !* t$e"e

16. 1he process of performing an e(ternal audit needs to include+ a. . c. d. e. SET-, 1. .ll of the follo ing are cooperative arrangements except: a. b. c. d. e. 2. !89 partnerships. :oint-bidding consortia. 3ross-licensing agreements. 3ross-manufacturing agreements. Mar-eting #&an". only top level managers, as it7s a planning function. a" man' manager" and em#&!'ee" a" #!""i &e. primarily front-line supervisors bet een 1) to 26 managers for it to be valid stoc%holders and e(ternal government agencies

Strategy analysis and choice largely involves ma%ing ;;;;;;;;;; decisions based on ;;;;;;;;;; information. a. . c. d. e. *ong-term< Short-term S% .ecti+e/ O .ecti+e Short-term< *ong-term Subjective< Short-term =bjective< Subjective

".

Which stage of the strategy formulation frame or% contains the >nternal-#actor 2valuation ?atri(? a. b. c. d. a. In#%t "tage .nalysis stage ?atching stage 9ecision stage =utput stage

'. Which strategies aim at improving internal ea%nesses by ta%ing advantage of e(ternal opportunities? a. . c. d. e. S= 0O SW S1 W1

). &o many cells are in a SW=1 ?atri(? a. a. b. c. d. ,. 1 o #our Si( 2ight Nine

What are t o e(ternal dimensions of the S$.32 ?atri(? a. b. c. d. e. En+ir!nmenta& "ta i&it' and ind%"tr' "trengt$ 2nvironmental stability and competitive advantage >ndustry strength and competitive advantage 3ompetitive advantage and financial strength #inancial strength and industry strength

-.

>n the S$.32 analysis, hat does a @A,, A"B strategy profile portray? a. b. c. d. e. A "tr!ng ind%"tr' .n unstable environment . stable environment . ea% industry . ea% financial position

0.

Selling all of a company7s assets in parts for their tangible orth is called a. b. c. d. e. :oint venture. 9ivestiture. 3oncentric diversification. Li1%idati!n. Cnrelated integration.

4.

Which stage of the strategy-formulation frame or% involves the Duantitative Strategic $lanning ?atri(? a. b. c. d. e. Stage 1 Stage 2 Stage 2 Stage ' Stage )

16. Which strategy should be implemented hen a division is responsible for an organization7s overall poor performance? a. . c. d. e. 5ac% ard integration Di+e"tit%re #or ard integration 3ost leadership !elated diversification

11. What analytical tool has four Euadrants based on t o dimensions+ competitive position and mar%et gro th? f. g. h. i. f. 3ompetitive $rofile ?atri( >nternal-2(ternal ?atri( S$.32 ?atri( Grand Strateg' Matri( DS$?.

12. #or companies located in Duadrant >>> of the /rand Strategy ?atri(, the first strategy recommended is .. %. l. m. n. E(ten"i+e c!"t and a""et red%cti!n. .sset e(pansion. 2mployee e(pansion. >mmediate liEuidation of assets. 9ivestiture.

1". Which of these is a limitation of DS$?? a. b. c. d. e. =nly a fe strategies can be evaluated simultaneously. 1he cost of doing the analysis Int%iti+e .%dgment" and ed%cated g%e""e" are re1%ired. Sets of strategies must be e(amined in reverse order. >t reEuires eEual participation from everyone.

1'. Which of the follo ing is not true about objectives? f. g. $. i. j. 1hey should be communicated throughout the organization. 1hey should have an appropriate time dimension. T$e' "$!%&d inc!r#!rate #!&icie". 1hey should be measurable. 1hey should be consistent.

1 ).

;;;;;;; is not a major factor that commonly prohibits effective resource allocation. a. b. c. d. e. Under #r!tecti!n !* re"!%rce" =rganizational politics Fague strategy targets !eluctance to ta%e ris%s *ac% of sufficient %no ledge

1,.

!estructuring is also referred to as a. b. c. d. e. Starting over. De&a'ering. 9iversifying. :ob security. >ntegrating.

1-. 1he primary benefit sought from restructuring is a. . c. d. e. 2mployee involvement. C!"t red%cti!n. >ncreased morale. >ncreased number of hierarchical levels in the organization. >ncreased innovation.

10. What pay strategy reEuires employees or departments to establish performance targets, such as Gif actual results e(ceed objectives then all members get bonuses.H a. b. c. d. e. $rofit sharing 5onus system Salary Gain "$aring &ourly age system

14. .lthough Duadrant ;;;;; companies are gro ing, according to the /rand Strategy ?atri(, they are unable to compete effectively, and they need to determine hy the firm7s current approach is ineffective and ho the company can best change to improve its competitiveness. a. . c. d. e. > II >>> >F F of a DS$? consists of alternative strategies derived from all of these

26. 1he top ro except: a. b. c. d. e.

/rand Strategy ?atri(. 53/ ?atri(. Space ?atri(. CPM Matri(. >2 ?atri(

SET-2 1. T$e *ina& "tage in "trategic management i" "trateg' im#&ementati!n. 1rue 3a&"e 2. An't$ing t$e *irm d!e" e"#ecia&&' 4e&& c!m#are t! ri+a& *irm" c!%&d e c!n"idered a c!m#etiti+e ad+antage . Tr%e #alse 2. In a m%&tidi+i"i!na& *irm5 ! .ecti+e" "$!%&d e e"ta &i"$ed *!r t$e !+era&& c!m#an' and n!t *!r eac$ di+i"i!n. 1rue 3a&"e 6. N!n#r!*it !rgani)ati!n" $a+e &e"" need *!r "trategic management eca%"e t$e' are n!t intere"ted in ma-ing a #r!*it. 1rue 3a&"e 7. T$e *ir"t "te# *!r %"ing P!rter8" 3i+e-3!rce M!de& i" t! e+a&%ate t$e re&ati+e "trengt$ !* eac$ c!m#etiti+e *!rce. 1rue 3a&"e 9. Bargaining #!4er !* c!n"%mer" i" %"%a&&' t$e m!"t #!4er*%& !* P!rter8" *i+e c!m#etiti+e *!rce". 1rue 3a&"e :. Signi*icant arrier" t! entr' are n!t a&4a'" "%**icient t! -ee# "!me ne4 *irm" *r!m entering ind%"trie" 4it$ $ig$er-1%a&it' #r!d%ct"5 &!4er #rice" and "% "tantia& mar-eting re"!%rce". Tr%e #alse ;. In an E3E Matri(5 !##!rt%nitie" !*ten recei+e $ig$er 4eig$t" t$an t$reat"5 %t t$reat" t!! can recei+e $ig$ 4eig$t" i* t$e' are e"#ecia&&' "e+ere !r t$reatening. Tr%e #alse

<. T$e #r!ce"" !* #er*!rming an interna& a%dit5 c!m#ared t! t$e e(terna& a%dit5 #r!+ide" m!re !##!rt%nit' *!r #artici#ant" t! %nder"tand $!4 t$eir .! "5 de#artment" and di+i"i!n" *it int! t$e 4$!&e !rgani)ati!n. Tr%e #alse 1=. P&anning "$!%&d e #er*!rmed m!"t&' ' midd&e management and t$en #re"ented t! t!# management *!r ana&'"i" and a##r!+a&. 1rue 3a&"e 11. A&& !* t$e"e are #it*a&&" an !rgani)ati!n "$!%&d a+!id in "trategic #&anning except> *. U"ing #&an" a" a "tandard *!r mea"%ring #er*!rmance. g. Csing strategic planning to gain control over decisions and resources. h. #ailing to involve %ey employees in all phases of planning. i. 1oo hastily moving from mission development to strategy formulation. 1,. 0$ic$ !* t$e *!&&!4ing "tatement" i" *a&"e? j. =pen-mindedness is an important guideline for effective strategic management. -. Strategic management m%"t ec!me a "e&*-#er#et%ating "!cia&i"t mec$ani"m. l. Io organization has unlimited resources. m. Strategic decisions reEuire trade-offs. 12. 0$ic$ !* t$e"e %"ine"" acti!n" i" @areA a&4a'" c!n"idered t! e %net$ica&? n. poor product or service safety o. using nonunion labor in a union shop p. dumping fla ed products in a foreign mar%et 1. a&& !* t$e a !+e 16. BBBBBBBBBBBB are !rgani)ati!n" t$at c!nd%ct %"ine"" !#erati!n" acr!"" nati!na& !rder". r. 9omestic firms ". M%&tinati!na& c!r#!rati!n" t. $arent companies u. /overnment-bac%ed companies 17. 0$at categ!r' !* rati!" inc&%de" ret%rn !n t!ta& a""et" and ret%rn !n "t!c-$!&der"8 e1%it'? a. leverage b. activity c. #r!*ita i&it' d. gro th 19. 0$ic$ !* t$e *!&&!4ing i" n!t a -e' 1%e"ti!n t$at can re+ea& interna& "trengt$" and 4ea-ne""e" !* t$e mar-eting de#artment? e. 9oes the firm have an effective sales organization? f. .re mar%ets segmented effectively? g. .re the firm7s products and services priced appropriately? $. D!e" t$e *irm $a+e g!!d &i1%idit'?

1:. 0$at mar-eting *%ncti!n inc&%de" te"t mar-eting? i. selling productsJservices j. pricing %. customer analysis &. #r!d%ctC"er+ice #&anning 1;. BBBBBBBB i" n!t c!n"idered t! e a *%ncti!n !* mar-eting. m. Mar-et "egmentati!n n. ?ar%eting research o. 3ustomer analysis p. =pportunity analysis 1<. O##!rt%nit' ana&'"i" i" !ne !* t$e a"ic *%ncti!n" !* > 1. Mar-eting. r. ?anagement. s. 3omputer information systems. t. $roductionJoperations. ,=. 0$at are $i"t!rica& narrati+e" de"cri ing t$e %ni1%e acc!m#&i"$ment" !* a gr!%# and it" &eader"5 %"%a&&' in $er!ic term". a. . c. d. SET-6 1. 0$ic$ !* t$e *!&&!4ing i" n!t a "tage !* "trateg' *!rm%&ati!n tec$ni1%e"? a. #ormulation #rame or% b. ?atching stage c. E(terna& *act!r e+a&%ati!n d. 9ecision stage 2. S1 Strategies is an important strategy to a. ?atch ea%ness ith opportunities of the firm b. O+erc!me e(terna& t$reat" c. =btain benefit from its resources d. =vercome its ea%ness and reducing threats 2. Strategic P!"iti!n and Acti!n E+a&%ati!n Matri( i" %"ed in a. #ormulation #rame or% b. Matc$ing "tage c. 2(ternal factor evaluation d. 9ecision stage rites "aga" stories myths

'. Ca"$ c!4" are a&4a'" in a. >ntroductory industry . /ro ing industry c. Mat%re ind%"tr' d. 9eclining industry 7. In BCG matri(5 t$e rea"!n *!r c$!!"ing re&ati+e mar-et "$are5 rat$er t$an .%"t #r!*it"5 i" t$at a. >t carries more information than just cash flo . >t sho s here the brand is positioned against its main competitors c. >t indicates here it might be li%ely to go in the future d. A&& !* t$e menti!ned !#ti!n" 9. T$!"e *irm" m%"t ma-e "!me dra"tic c$ange" 1%ic-&' t! a+!id *%rt$er demi"e and #!""i &e &i1%idati!n t$at *a&& inBBBBBBBBBB !* grand "trateg' matri( a. Durdant-1 . Durdant-2 c. D%rdant-2 d. Durdant-' :. Strateg'-*!rm%&ati!n c!nce#t" and t!!&" a. D! n!t di**er great&' *!r di**erent "i)e and t'#e !* !rgani)ati!n" . 9iffer greatly for different size and type of organizations c. 9o not differ greatly for profit or nonprofit organizations but differ in small and large organizations d. Ione of the mentioned options ;. Ann%a& ! .ecti+e" a. .re not critical to success . Ser+e a" g%ide&ine" *!r acti!n5 directing and c$anne&ing e**!rt" and acti+itie" !* !rgani)ati!n mem er" c. .re not important for employee motivation and identification d. 9o not provide a basis for organizational design <. Ann%a& ! .ecti+e" a. Ieed not to be consistent . Should be easily achievable c. S$!%&d e mea"%ra &e d. Should be confidential and not to be communicated throughout the organization 1=. 0$ic$ !* t$e *!&&!4ing re"!%rce" i" %"ed ' a&& !rgani)ati!n" t! ac$ie+e de"ired ! .ecti+e"? a. #inancial resources, . $hysical resources, c. &uman resources d. A&& !* t$e menti!ned !#ti!n" 11. Matc$ing Stage c!n"i"t" !* t$e E3E Matri(5 t$e I3E Matri(5 and t$e C!m#etiti+e Pr!*i&e Matri(. 1rue 3a&"e

1,. Strengt$" are e(terna& c!nditi!n" t$at are $e&#*%& t! t$e ac$ie+ement !* t$e ! .ecti+e. 1rue 3a&"e 12. A&& nine tec$ni1%e" inc&%ded in t$e "trateg'-*!rm%&ati!n *rame4!r- re1%ire integrati!n !* int%iti!n and ana&'"i". Tr%e #alse 16. Man' %"ine""e" *a&& rig$t in t$e midd&e !* t$e Grand "trateg' matri( and t$%" are n!t ea"i&' c&a""i*ied 1rue 3a&"e 17. On&' a di+er"i*ied c!m#an' 4it$ a a&anced #!rt*!&i! can %"e it" "trengt$" t! tr%&' ca#ita&i)e !n it" gr!4t$ !##!rt%nitie". Tr%e #alse 19. Eie4ing e+er' %"ine"" a" a "tar5 ca"$ c!45 d!g5 !r 1%e"ti!n mar- i" !+er&' c!m#&icated. 1rue 3a&"e 1:. Man' c!m#anie" re#eated&' *ai& t! tr%&' m!ti+ate t$eir #e!#&e t! 4!r- 4it$ ent$%"ia"m Tr%e #alse 1;. Strateg' im#&ementati!n +arie" "% "tantia&&' am!ng di**erent t'#e" and "i)e" !* !rgani)ati!n". Tr%e #alse 1<. Ann%a& ! .ecti+e"5 "tated in term" !* #r!*ita i&it'5 gr!4t$5 and mar-et "$are ' %"ine"" "egment5 ge!gra#$ic area5 c%"t!mer gr!%#"5 and #r!d%ct are n!t c!mm!n in !rgani)ati!n". 1rue 3a&"e ,=. Re"!%rce a&&!cati!n i" a ma.!r management acti+it' t$at a&&!4" *!r "trateg' e(ec%ti!n Tr%e #alse

SET-7 1A. Strategic management #r!ce"" acti+ate in t$e "e1%ence !* BBBBBBBBBBBBB aA En+ir!nmenta& "canning5 Strateg' *!rm%&ati!n5 Im#&ementati!n5 c!ntr!& and e+a&%ati!n bB Strategy formulation, 2nvironmental scanning, >mplementation, control and evaluation cB 2nvironmental scanning, Strategy >mplementation, formulation, control and evaluation dB Strategy formulation, >mplementation, control, evaluation, 2nvironmental scanning ,A. FAPFAL P!4er8" intere"ted t! ac$ie+e a 1= #ercent ret%rn !n e1%it' @ROEA in t$eir c!re e&ectric %ti&it'5 16 #ercent ROE !n 4ater re"!%rce !#erati!n"5 and 17 #ercent ROE !n "%##!rt %"ine""e". It i" BBBBBBBBBBBBBBBBB aB ?ission bB Strategy cA O .ecti+e dB $olicy 2A. GA #!""i &e and de"ira &e *%t%re "tate !* an !rgani)ati!nH i" ca&&ed> aB ?ission A Ei"i!n cB Strategy implementation dB Ione of above 6A. G0a&&"H ice cream #%rc$a"e GP!&-aH in !rder t! ca#t%re t$e mar-et. S%c$ -ind !* integrati!n i" ca&&ed> aB #or ard >ntegration bB 5ac% ard >ntegration cA I!ri)!nta& Integrati!n dB $roduct 9evelopment 7A. GT! im#r!+e ec!n!mic "trengt$ !* "!ciet' and *%ncti!n a" a g!!d c!r#!rate citi)en !n a &!ca&5 "tate5 and nati!na& aB Self-concept bB 2conomic concern cB $roducts or Services dA C!ncern *!r P% &ic Image a"i" in a&& c!%ntrie" in 4$ic$ 4e d! %"ine""H. T$i" i" a mi""i!n "tatement t$at c!ntain">

9A. Strategic-management a%dit i" -n!4n a"> aA En+ir!nmenta& "canning bB Strategy formulation cB Strategy control dB Strategy evaluation :A. 3!reca"ting t!!&" can e r!ad&' categ!ri)ed int! t4! gr!%#". T$!"e are> aB Dualitative, =perational bB Duantitative, =perational cA D%a&itati+e5 D%antitati+e dB !egression and time series analysis ;A. BBBBBBBBBBBBBB identi*ie" a *irmJ" ma.!r c!m#etit!r" and t$eir #artic%&ar "trengt$" and 4ea-ne""e" in re&ati!n t! a "am#&e *irmJ" "trategic #!"iti!n. aA C!m#etiti+e Pr!*i&e Matri( bB 2(ternal #actor 2valuation matri( cB >nternal #actor 2valuation ?atri( dB 5oston consulting group matri( <A. Organi)ing mean" an identi*ia &e gr!%# !* #e!#&e c!ntri %ting t$eir e**!rt" t!4ard" t$e attainment !* "ame g!a&. It i" im#!rtant at t$e time !*> aB 2nvironmental scanning bB Strategy formulation cA Strateg' Im#&ementati!n dB Strategy evaluation 1=A. BBBBBBBBBBBB in+!&+e" a""e""ing t$e c!"t"5 ene*it"5 and ri"-" a""!ciated 4it$ mar-eting deci"i!n". aB 3ustomer analysis A O##!rt%nit' ana&'"i" cB ?ar%eting !esearch dB $roduct and Service $lanning

SET-9 1B. 3ompetitive profile matri( include in ;;;;;;;;;;; of Strategy-#ormulation #rame or%. a. Stage-1 b. Stage-2 c. Stage-" d. Stage-' 2B. 1he matching stage of the strategy-formulation frame or% consists of ;;;;;;techniEues. a. b. c. d. 1 o 1hree #our 3i+e

"B. 9ecision stage of Strategy-#ormulation #rame or% includes a matri(;;;;;;;;;;;. a. b. c. d. 53/ ?atri( >2 ?atri( S$.3 2 matri( N!ne !* gi+en !#ti!n or%ing condition of the firm< such

'B. . strong financial position utilizes to improve the strategy is called BBBBBBBBBBBBBBB. a. . c. d. S= Strategy S0 Strateg' 1W Strategy Ione of given option

)B. WO Strategies aim at improving internal ;;;;;;;;;; by ta%ing advantage of e(ternal ;;;;;;;;;;;;;;;;; a. b. c. d. 0ea-ne""/ O##!rt%nitie" Wea%ness< =perations Wealth< =pportunities Ione of given option

,B. GS$.32H matri( stands for+ a. b. c. d. Strategic P!"iti!n and Acti!n E+a&%ati!n Strategic $artner and .ction 2valuation Strategic $hase and .ction 2valuation Strategic $osition and .cademic 2valuation

-B. >n Space ?atri( internal strategic position divided into+ a. b. c. d. 3inancia& "trengt$/ C!m#etiti+e ad+antage" #inancial strength< 2nvironmental stability 2nvironmental Stability< >ndustry Strength 3ompetitive advantages< >ndustry Strength

0B. G3apital intensityH ith the reference of S$.32 matri( is+ a. b. c. d. #inancial Strength @#SB 2nvironmental Stability @2SB Ind%"tr' Strengt$ @ISA 3ompetitive .dvantage @3.B

4B. Space ?atri( contains four Euadrants frame or%, the upper left Euadrant contain ;;;;;;;;;;;; strategy. a. . c. d. .ggressive C!n"er+ati+e 9efensive 3ompetitive hat ill be the correct average score of industrial strength in

16B 5y using the given table GSPACEH matri(? Ind%"tr' Strengt$ @ISA 9emand and supply factors $rofit potential *arge amount of capital

Rating ) " 2 ' "

3onsistently increasing revenue !esource utilization a. . c. d. SET-: 1. 0$ic$ "tatement e"t de"cri e" int%iti!n? v. . (. y. z. @"A2A'B J " @7K2K2A C 2 @)A"A2A'B J ' @)A'B J 2

>t represents the marginal factor in decision-ma%ing. >t represents a minor factor in decision-ma%ing integrated ith analysis. It "$!%&d e c!%#&ed 4it$ ana&'"i" in deci"i!n-ma-ing. >t is better than analysis in decision-ma%ing. >t is management by ignorance.

,. 0$at are t$e mean" ' 4$ic$ &!ng-term ! .ecti+e" 4i&& e ac$ie+ed? a. b. c. d. e. Strategie". Strengths. Wea%nesses. $olicies. =pportunities.

2. 0$ic$ !* t$e"e a"ic 1%e"ti!n" "$!%&d a +i"i!n "tatement an"4er? ),. )-. )0. 7<. ,6. What is our business? Who are our employees? Why do e e(ist? 0$at d! 4e 4ant t! ec!me? Who are our competitors?

6. 0$en an ind%"tr' re&ie" $ea+i&' !n g!+ernment c!ntract"5 4$ic$ *!reca"t" can e t$e m!"t im#!rtant #art !* an e(terna& a%dit. a. . c. d. e. economic #!&itica& technological competitive ?ultinational

7. BBBBBBBBBB i" n!t #art !* an e(terna& a%dit. a. . c. d. e. .nalyzing competitors Ana&')ing *inancia& rati!" .nalyzing available technologies Studying the political environment .nalyzing social, cultural, demographic and geographic forces

9. 0$ic$ !* t$e *!&&!4ing i" n!t a c%&t%ra& #r!d%ct? a. . c. d. e. !ites Em!ti!n" !ituals Sagas Symbols

:. 0$ic$ indi+id%a&" are m!"t re"#!n"i &e *!r t$e "%cce"" and *ai&%re !* an !rgani)ati!n? *. g. h. i. j. Strategi"t" #inancial planners $ersonnel directors Sta%eholders &uman resource managers

;. L!ng-term ! .ecti+e" "$!%&d e a&& !* t$e *!&&!4ing e(ce#t> f. g. h. i. j. ?easurable. C!ntin%a&&' c$anging. !easonable. 3hallenging. 3onsistent.

<. 0$at are g%ide" t! deci"i!n ma-ing?

b. c. d. e. f.

la s rules #!&icie" procedures goals

1=. 0$ic$ gr!%# 4!%&d e c&a""i*ied a" a "ta-e$!&der? f. 3ommunities g.5an%s h.Suppliers i. 2mployees .. A&& !* t$e gi+en !#ti!n" SET-; 1. 1he first step for using $orter7s #ive-#orces ?odel is to evaluate the relative strength of each competitive force. 1rue 3a&"e 2. 5argaining po er of consumers is usually the most po erful of $orter7s five competitive forces. 1rue 3a&"e ". Significant barriers to entry are not al ays sufficient to %eep some ne firms from entering industries ith higher-Euality products, lo er prices and substantial mar%eting resources. Tr%e #alse '. #or ard integration is used by firms to gain control or o nership of suppliers. 1rue 3a&"e ). >n an 2#2 ?atri(, opportunities often receive higher eights than threats, but threats too can receive high eights if they are especially severe or threatening. Tr%e #alse =pportunities are a firm7s distinctive competencies that cannot be easily matched or imitated by competitors. 1rue 3a&"e

,.

-.

1he process of performing an internal audit, compared to the e(ternal audit, provides more opportunity for participants to understand ho their jobs, departments and divisions fit into the hole organization. Tr%e #alse

0.

3ultural products include values, beliefs, stories, and language. Tr%e #alse

4.

.llocating resources is one of the five basic activities @functionsB performed by managers. 1rue 3a&"e

16.

$lanning should be performed mostly by middle management and then presented to top management for analysis and approval. 1rue 3a&"e