Study Guide for Business Management Essay examples
16. What is an important characteristic of effective strategic objectives? A. Expressed in words, not numbers B. Describe specific work activities C. Not difficult to achieve D. Are measurable
17. Which of the following strategic objectives demonstrates cross-cultural awareness? A. Keep customers content. B. Increase sales by serving current markets. C. Provide top-notch service to increase customer loyalty. D. Increase sales by satisfying the needs of diverse customers.
18. What is the difference between core competencies and distinctive competencies? A. Core competencies are measured relative to internal activities, while distinctive competencies are measured relative to competitors. B. Typically, core competencies reside in a company's personnel, whereas distinctive competencies reside in a company's customers. C. Typically, core competencies reside in assets shown on the balance sheet, whereas distinctive competencies do not. D. Core competencies provide the basis for competitive advantage, while distinctive competencies do not. 19. Which statement about the strategic planning sequence is correct? A. Crafting strategies precedes setting objectives. B. Crafting strategies and setting objectives are completed simultaneously. C. Strategies