1) In a survey of 50 corporations, which of the following was rated as a benefit of strategic management?
Clearer sense of vision for the firm 
Higher levels of employee motivation 
Higher levels of job satisfaction 
Improved productivity 
Lower employee turnover
2) Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is
externally-oriented planning
basic financial planning 
internally-oriented planning 
forecast-based planning 
strategic management
3) 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?
strategy formulation 
strategy implementation 
statistical process control 
evaluation and control 
environmental scanning