PART 1: TRUE/FALSE 1) 2) 3) 4) 5) 6) 8) 7) 9) Strategic management focuses on integrating management, marketing, finance and accounting, production and operations, research and development, and information systems to achieve organizational success. Optimizing for tomorrow the trends of today is the purpose of strategic management. Even though useful, strategic planning has been cast aside by corporate America since the early 19905. The decision to expand or diversify operations is a strategy- formulation issue. The terms strategic management and strategic planning are synonymous in this text. A vision statement identifies the scope of a firm's operations in product and market terms. The final stage in strategic management is strategy implementation. Strategy implementation is often considered to be the most difficult stage in the strategic-management process because it requires personal discipline, commitment, and sacrifice. Formulation, implementation, and evaluation of strategy activities occur at three hierarchical levels in a large organization: corporate, divisional or strategic business unit, and functional. 10} One of the fundamental strategy evaluation activities is reviewing external and internal factors that are the basis for current strategies. 11) To see and appreciate the world from the perspective of others has become a matter of survival for business. 12) As long as the price and quality of a firm's products and services are competitive on a local basis, it has nothing to worry about. 13} Mass communication and high technology have led to highly individualized and distinct patterns of consumption in diverse cultures worldwide