This work book belongs to:

KOLEHIYO NG LUNGSOD NG LIPAMarawoy, Lipa City, Batangas 4217

Date: _____________ Score:___________ Rating:__________

Strategic Management Readiness Assessment

A readiness assessment will be administered to determine student’s understanding of key terms with consideration of the learning experience related to Strategic Management. This will also define the approach and instruction appropriate in the conduct of the lectures. Moreover, it will facilitate a comprehensive discussion on the key terms , its importance and relation to Strategic Management .

1. Strategic Management is all about gaining and maintaining Competitive Advantage. What is Competitive Advantage?a. Anything that a firm does well compared to rival firmsb. Less fixed assets than rival companies can also provide a major competitive

advantagec. Developing strategies aligned to the changes in the external environment d. All of the above

2. The Strategist are individuals who are responsible for the success and failure of an organization. Who are the strategist ?a. Chief executive officerb. Ownerc. Chairman of the boardd. Managere. All of the above

3. Which of the following is an example of a Vision Statement?a. “To improve people’s lives through innovation, research and patient care” (Ohio

State University)b. “To create a technology solution for forward-thinking organization” (Siera

Technology Solutions)c. “To organize the world’s information and make it universally accessible and useful”

(Google)d. “We shall build good ships here-at a profit if we can – at a loss if we must – but

always good ships “ (Newport News Shipping )

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KOLEHIYO NG LUNGSOD NG LIPAMarawoy, Lipa City, Batangas 4217

e. All of the abovef. None of the above

4. A mission statement must bea. inspiringb. broad in scopec. less than 250 words in lengthd. all of the above

5. Internal strength and Weakness may be derived from a. Economic Forcesb. Cultural Forcesc. Demographic Forcesd. Technological Forcese. None of the abovef. All of the above

6. Which of the following may be considered as External Opportunities and Threats affecting firms?a. Marketing trend using the Internetb. Growth in revenues in the global marketsc. Unemployment ratesd. Slowdown in consumer spendinge. All of the above f. None of the above

7. Long term objective are essential to an organization’s success. Therefore it must be:a. Specificb. Measurablec. Attainabled. Realistice. Timelyf. All of the aboveg. None of the above

8. Strategies area. the means by which short term objectives are achievedb. actions that requires human resource action

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KOLEHIYO NG LUNGSOD NG LIPAMarawoy, Lipa City, Batangas 4217

c. past orientedd. done with consideration of the internal environment onlye. all of the abovef. none of the above

9. Policies may also be calleda. Guidelinesb. Rulesc. Procedured. All of the above e. None of the above

10. The areas in which a corporation might establish its annual objective are:a. Profitability (net profits)b. Efficiency (low costs, etc)c. Utilization of resourcesd. Reputation (being considered a “top” firm)e. All of the abovef. None of the above

Direction: Answer the following question by writing the best letter of your choice

1. _________________ 6. _________________2. _________________ 7. _________________3. _________________ 8. _________________4. _________________ 9. _________________5. _________________ 10. ________________

Readiness Rating ScoreReady 8-10Almost Ready 5-7Not yet Ready 1-4

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