Strategic Management: A Competitive Advantage Approach, 17e (David/David)
Chapter 3 The External Assessment
1) To perform an external audit, a company first must
A) get an approval from the Securities and Exchange Commission.
B) perform an internal audit.
C) gather competitive intelligence and information about external trends.
D) hire a consultant to develop a comprehensive strategic plan.
E) create a budget.
Answer: C
Diff: 2
LO: 3.1: Describe the nature and purpose of an external assessment in formulating strategies.
AACSB: Analytical thinking
2) Collecting and evaluating information on competitors is essential for successful
A) internal analysis.
B) strategy evaluation.
C) strategy formulation.
D) strategy implementation.
E) strategy correction.
Answer: C
Diff: 2
LO: 3.1: Describe the nature and purpose of an external assessment in formulating strategies.
AACSB: Analytical thinking
3) External audits attempt to identify key variables that offer ________ responses.
A) actionable
B) authoritative
C) profitable
D) strategic
E) terminal
Answer: A
Diff: 2
LO: 3.1: Describe the nature and purpose of an external assessment in formulating strategies.
AACSB: Analytical thinking
4) External audit is sometimes called
A) strategic analysis.
B) strategy evaluation.
C) statutory audit.
D) financial audit.
E) industry analysis.
Answer: E
Diff: 2
LO: 3.1: Describe the nature and purpose of an external assessment in formulating strategies.
AACSB: Analytical thinking
1
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GEB MCQ GEB Chapter 3 Collecting and evaluating information on competitors is essential for successful
A) internal analysis. Answer: C Collecting and evaluating information on competitors is essential for successful
Collecting and evaluating information on competitors is essential for successful
B) strategy evaluation.
C) strategy formulation.
D) strategy implementation.
E) strategy management.
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