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7. High-quality objectives are tightly connected to the elements of a firm's I A. Human Resource Management B. Missions statements C. Coordination D. Logistical approaches 8. Low-quality objectives cannot be used by management to evaluate how well a mission is being A. Strictly realized B. Discredited c. Amplified D. Strategized 9. What can be considered two main elements in the strategic analysis process? A. Gathering and filing of information B. Micromanaging and dissemination C. Recruiting of external forces D. Managing of internal and external analysis 10. The implementation of a well-defined strategy is when a firm A. Studies its threats B. Evaluates its weakness and threats C. Applies practices that can be seen in functioning strategy analysis D. Disowns policies 11. When can we safely say that a business company has a goof competitive advantage.? A. When it can create more economic value B. When it can create more competitive value C. When it can redistribute an in-depth analysis D. When it can sustainably pay its expenses 12. Why competitive advantages seem to persist longer in some industries than in others? A. They have information complexity B. Have more sustained competitive advantage C. The competition cannot meet monetary demands to stay at par D. These companies are large, and their business power is unmatched E. A and B F. C and D 13. That set of activities that a firm engages in to create and appropriate economic value, in this approach, is called a A. Firm's business model B. Competitive Advantage C. Competitive disadvantage 14. A business accounting performances can be grouped into the following A. Activity and Profitability B. Mortgage and Salary C. Leverage ratios and standard operating procedures D. Cost of goods and net sales 15. Why is it a great reason to study strategy and strategic management. A. It gives you tools needed to understand that management B. It allows you to see beyond the life of the business C. It allows you to prepare for profits and losses D. It makes you understand the money concept better 16. Two common measures of a firm's competitive advantage are A. Accounting and economic performance B. Economic and lending performance C. Financial and arbitrary performance D. Sequential and responsive performance 17. How can you best define Marketing research A. It is the systematic gathering of data B. It is recording of data about marketing expenditures C. It consists in the analyzing of information issues pertaining to the business structure of the company D. It is the systematic gathering, recording, and analyzing of company's data 18. Long - term objectives are needed in many areas, these can be A. At the corporate, divisional, and functional levels B. At the beginning and at the end of every fiscal period C. At the inception of every quarterly business period D. At the commencement of a business year 19. Product development is a strategy that seeks increased sales. This is due by improving or modifying present A. expenditures B. investments C. acquisitions D. products and services 20. We safely say that business is said to be related when A. valuable chains are dissimilar B. their business mode of operandi exceeds the other C. interest is interrelated as it relates to business D. value chains possess competitively valuable