Strama Finals Exam
Strama Finals Exam
Strama Finals Exam
Question 1
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Question 2
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Marketing intermediaries pertain to all people and institutions that have ownership
over the firm.
Select one:
True
False
Question 3
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The secret to a CEO’s ability in long-term planning is to?
Question 4
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Political factors refer to the environmental initiatives that can affect enterprises.
Select one:
True
False
Question 5
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A business organisation has short term and long-term objectives. Proper analyses of
environmental factors help the business firm to frame plans and policies that could
help in easy accomplishment of those organisational objectives.
c. Identification of threat
Question 6
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Select one:
True
False
Question 7
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A resource may have a lot of value at first glance, but the value is quickly depleted.
a. Imitability
b. Value
c. Rarity
d. Organization
Question 8
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They are resources such as equipment, machinery, land, buildings and cash.
a. Assets
c. Tangible resources
d. Intangible resources
Question 9
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a. Values
b. Goals
c. Vision
d. Mission
Question 10
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Economic
Technological
Legal
Environmental is___.
Select one:
True
False
Question 11
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That said, you don’t want to be timid in setting your goals. Your objective shouldn’t be
too easy to achieve, but also it shouldn’t be so unrealistic as to be discarded.
a. Be inspiring
b. Be challenging
c. Be stable
d. Be abstract
Question 12
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Legal factors pertain more to attitudes and overall political climate which in turn can
lead to further legislation.
Select one:
True
False
Question 13
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Socio-Cultural factors refer to the cultural facts, norms, and behaviors of the groups
and subgroups that need to be considered by the firm.
Select one:
True
False
Question 14
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The vision statement is not what the company is presently engaged in but rather a
future objective where the company plans to be.
a. Be clear
b. Be concise
Question 15
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Have a fixed point in the future when you will achieve and evaluate your vision
statement.
b. Be concise
d. Be clear
Question 16
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Mark Zuckerberg, a Facebook’s CEO, believed that in order for Facebook to be
relevant for the long term, consumers should remain in the site’s ecosystem for as
much of their online time is possible.
Select one:
True
False
Question 17
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“Are a firm’s policies and procedures organized to support the exploitation of its
valuable, rare, and costly-to-imitate resources?”
Question 18
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The CEO’s primary role is to have a clear vision for the future of the business.
Select one:
True
False
Question 19
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A vision statement should be simple, easy to read and cut to the essentials, so that it
can be set to memory and be repeated accurately, means?
a. Be clear
b. Be concise
d. Be complete
Question 20
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Select one:
True
False
Question 21
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Question 22
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Question 23
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Comparative assessment of the bargaining powers between the firm and the
suppliers can lead to an understanding of who has the upper hand in the
transactions.
Select one:
True
False
Question 24
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a. Values
b. Goals
c. Vision
d. Mission
Question 25
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The topmost supremacy of the CEO position is an important point because there are
management decisions that only the topmost person can address in an organization.
Select one:
True
False
Question 26
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Select one:
True
False
Question 27
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a. Assets
b. Tangible resources
c. Intangible resources
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Select one:
True
False
Question 29
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a. Research-Based View
b. Research-Based Values
c. Research-Basic Values
Question 30
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Michael Porter’s Five Forces Model is a famous and popular framework that seeks to
explain competitive pressures within an industry.
Select one:
True
False
Question 31
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Select one:
True
False
Question 32
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The vision statement is a long-term goal that should, ideally, not be affected by the
market or technological changes.
a. Be stable
b. Be challenging
c. Be abstract
d. Be inspiring
Question 33
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The following definitions for the most commonly used terms when addressing
capacity building issues are the following, except:
a. Capacity
b. Capabilities
c. Competencies
d. Cooperation
Question 34
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This comes after SWOT analysis has been completed or at least after the SW portion
has been fulfilled in long-term planning process.
a. Value Analysis
b. Strategy Mapping
d. PESTLE
Question 35
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a. Identification of strengths
b. Identification of challenges
c. Identification of weaknesses
d. Identification of threats
Question 36
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a. Vision
b. Goals
c. Mission
d. Values
Question 37
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All assets, capabilities, organizational processes, firm attributes, information and
knowledge controlled by a firm that enables it to improve its efficiency and
effectiveness.
a. Human Resources
b. Firm Resources
c. Financial Resources
d. Technological Resources
Question 38
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A good rule of thumb for clarity is to focus on one primary goal, rather than trying to
fill the document with a scattering of ideas. One clear objective is also easier to focus
on and achieve.
a. Be complete
c. Be concise
d. Be clear
Question 39
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The premise of stakeholder theory is that businesses only exist to make a profit for
their shareholders, but they also have to consider the interests of their various
stakeholders if they seek to survive for the long term.
Select one:
True
False
Question 40
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Select one:
True
False
Question 41
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It refers to the external environment at large, featuring elements that are beyond the
power and influence of a firm and which reflect the realities of the outside world.
a. Macro-environment
b. All of the above
c. Micro-environment
d. Internal environment
Question 42
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Select one:
True
False
Question 43
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a. Be stable
b. Be challenging
c. Be abstract
d. Be inspiring
Question 44
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Question 45
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The CEO’s strategy process are vision formulation, long-term planning and capacity
building.
Select one:
True
False
Question 46
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It is a way to reduce imitability.
d. Minimize the value of imitable component and redirecting the value to what is
difficult to imitate
Question 47
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b. Response-Based Review
c. Resource-Based Review
d. Resource-Basic Review
Question 48
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A marketing strategy that McDO in Bayombong can employ during this pandemic is
that they can offer delivery services so people don't have to come in their
establishment. Another strategy is that they can post online advertisements for any
business deals, offers, and sales that they can offer for their customers. Another
strategy that is most important is that they should focus on strengthening their
relationship with their customers. Being more courteous, attentive and quick in
service can be helpful for their business as well.
Question 49
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It is a four (4) question framework for analysis that seeks to understand how a
particular resource of a firm can potentially be of strategic value, and whether this
value is short-term or long-term in nature.
a. VRIO Framework
Question 50
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b. Long-term planning
c. Capacity building
d. Vision formulation
Question 51
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Live up to the title of the document, and create something that will rally the troops
and be desirable as a goal for all those involved in the organization.
a. Be abstract
b. Be stable
c. Be inspiring
d. Be challenging
Question 52
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The idea is to whether a specific resource may or may not be of value is a subjective
one.
a. Reliability
b. Imitability
c. Value
d. Rarity
Question 53
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Even if the firm finds itself in possession of a resource that is valuable, rare and
difficult to imitate, if it does not have the organizational capability to mobilize or make
use of this asset, it will still be just an idle resource with little or no effective value.
a. Rarity
b. Organization
c. Value
d. Imitability
Question 54
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b. Recycle
c. Value
d. Imitability
Question 55
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The late Steve Jobs was the CEO who then grew Apple into the global electronics
powerhouse.
Select one:
True
False
Question 56
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It’s a living document that is referred to as a lodestar to lead a company to its next
innovation.
a. Mission
b. Goals
c. Vision
d. Values
Question 57
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The macro-environment pertains to factors in the environment that the firm will have
no control over.
Select one:
True
False
Question 58
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Question 59
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Question 60
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Milton Friedman stated that businesses are in the business of making profits, and
they had no business looking after the needs or the welfare of other groups.
Select one:
True
False
Question 61
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Question 62
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Itis the initial step that needs to be conducted when any organisation or undertakes a
business planning process.
b. Apply PESTLE
c. Formulate Vision