chapter 1-3

Question 1

guidelines developed by an organization to govern it’s action

Answer 1

business policy

Question 2

refers to unified, stuctured and integrated plans

Answer 2

business strategy

Question 3

4 strategic planning stages

Answer 3

environmental scanning
strategy formulation
strategy implementation
strategy evaluation

Question 4

the process of gathering, organizing and analyzing information

Answer 4

environmental scanning

Question 5

clear picture of what needs to be addressed

Answer 5

strategy formulation

Question 6

clear communication

Answer 6

strategy implementation

Question 7

every organization should strive for continuous improvement

Answer 7

strategy evaluation

Question 8

process by which business or other organizations develop international influence

Answer 8

globalization

Question 9

also known as digital age

Answer 9

electronic age

Question 10

concept in organization theory and strategic management

Answer 10

organizational adaption

Question 11

4 theories of organization adaptation

Answer 11

population ecology
institutional theory
strategic choice perspective
organizational learning theory

Question 12

set of ethical processes for overseeing how decision are settled

Answer 12

corporate governance

Question 13

governing panel of elected shareholders

Answer 13

board of directors

Question 14

people who own the share of the company stock

Answer 14

shareholders

Question 15

serve in powerful position at other companies

Answer 15

agent

Question 16

monitor ceo and engage in hiring

Answer 16

human resource manager

Question 17

responsible for company’s operation

Answer 17

board of directors

Question 18

types of board of directors

Answer 18

internal director
external director

Question 19

independent members who are not involved in the corporation day to day

Answer 19

external director

Question 20

have extensive experience and knowledge about the functioning of the company

Answer 20

internal director

Question 21

heart of the executive activities for the management

Answer 21

decision making

Question 22

business organizations management is to produce goods and service of value to society

Answer 22

economic

Question 23

defined government in laws

Answer 23

legal

Question 24

follow the generally held beliefs

Answer 24

ethical

Question 25

voluntary obligation

Answer 25

discretionary

Question 26

continuous observation of trends

Answer 26

environmental scanning

Question 27

components that lie

Answer 27

internal environmental components

Question 28

components that falls

Answer 28

external environmental components

Question 29

5ps

Answer 29

strategy as plan
strategy as ploy
strategy as pattern
strategy as position
strategy as perspective

Question 30

occurs when a three is a large number of small companies competing against each other

Answer 30

perfect competition

Question 31

single company presents the whole industry

Answer 31

monopoly

Question 32

imperfect competition

Answer 32

monopolistic competition

Question 33

consist of small number of large companies

Answer 33

oligopoly

Question 34

acronym and technique that used to determine and define the strength, weakness, opportunities and threats

Answer 34

swot analysis