Requirement

1. How can managers choose between different strategies?

Select all that apply.

A. Managers determine the best course of action based on their employees and their schedules.

B. Managers gather relevant information about external parties upon whom the company depends, such as customers, suppliers, and financing.

C. Managers use their current levels of inventory and resources to find the most profitable scenario.

D. Managers assess the internal strengths and weaknesses of their company to counter external threats from its environment.

Requirement

2. How is strategy different from an operating decision?

Select all that apply.

A. A strategy requires managers to examine how the company and its goals fit with the external environment over which the company has no control, whereas an operating decision is made with a focus on internal strengths and weaknesses.

B. A strategic decision is made in the short term to achieve expected performance levels, whereas an operating decision is made for the long-term guidance and coordination of activities.

C. A strategic decision is made for the long-term guidance and coordination of activities, whereas an operating decision is made in the short term to achieve expected performance levels.

D. A strategy is made with a focus on internal strengths and weaknesses, whereas an operating decision requires managers to examine how the company and its goals fit with the external environment over which the company has no control.