1. What kind of strategy is associated with very specific outcomes or objectives, operation managerial involvement, and brief time horizons?

A. Functional

B. Values-driven

C. Concentric

D. Cooperative

2. After a strategy has been selected, what is the next step in the strategic process?

A. Blue sky estimation

B. Legal review

C. Implementation

D. Tax compliance

3. In the Five Forces model, who can become a firm's competitor?

A. Buyer, but not sellers

B. Sellers, but not buyers

C. Both buyers and sellers

D. Neither buyers nor sellers

4. In the Five Forces model, who can become a firm's competitor?

A. Buyer, but not sellers

B. Sellers, but not buyers

C. Both buyers and sellers

D. Neither buyers nor sellers

5. What are the five stakeholders competing for in Porter's Five forces model?

A. Profit

B. Just-in-time satisfaction

C. Social well being

D. All of the above