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MGT 498 Final Exam AnswersThank you for using ACCNerd.com1) In a survey of 50 corporations, which of the following was rated as a benefit of strategic management?A. Clearer sense of vision for the firmB. Higher levels of employee motivationC. Higher levels of job satisfactionD. Improved productivityE. Lower employee turnover2) Research suggests that strategic management evolves through four sequential phases in corporations. The first phase isA. externally-oriented planningB. basic financial planningC. internally-oriented planningD. forecast-based planningE. strategic management3) Strategic management is that set of managerial decisions and actions that determine the long-run performance of a corporation. Which one of the following is NOT one of the basic elements of the strategic management process?A. Strategy formulationB. Strategy implementationC. Statistical process controlD. Evaluation and controlE. Environmental scanning4) The relationship among the board of directors, top management, and shareholders is referred to asA. corporate synergyB. corporate managementC. corporate governanceD. corporate strategyE. corporate responsibility5) The concept that proposes private corporations have responsibilities to society that extend beyond making a profit is known asA. flexible responsibilityB. social responsibilityC. social flexibilityD. managerial responsibilityE. profit maximization6) Who said that the social

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