Strategic management can be defined as: a) a process of setting written long-term profit plans for the organization. b) a process of measuring performance of the organization. c) a process of operational planning. d) a process of setting long-term direction for the organization

Strategic management can be defined as:
a) a process of setting written long-term profit plans for the organization.
b) a process of measuring performance of the organization.
c) a process of operational planning.
d) a process of setting long-term direction for the organization
by

1 Answer

Answer :

a process of setting long-term direction for the organization
by

Related questions

Strategic planning: (a) Addresses the organization's basic mission or business, issuing broad statements of purpose or direction that have a long lead time. (b) Involves managers in each unit of an organization who are responsible for achieving the unit's objectives within a specified period of time. (c) Looks specifically at resources, finances, and market conditions to determine ways to accomplish the overall plans of the organization. (d) Determines the day-to-day operations within an organization.

Description : Strategic planning: (a) Addresses the organization's basic mission or business, issuing broad statements of purpose or direction that have a long lead time. (b) Involves managers in each unit of ... overall plans of the organization. (d) Determines the day-to-day operations within an organization.

Last Answer : (a) Addresses the organization's basic mission or business, issuing broad statements of purpose or direction that have a long lead time.

In the context of strategic management, stakeholders can be defined as: a) An individual or group with a financial stake in the organization b) An external individual or group that is able to impose constraints on the organizationInternal groups or individuals that are able to influence strategic direction of the organizationd) An individual or group with an interest in the organization's activities and who seeks to influence them

Description : In the context of strategic management, stakeholders can be defined as: a) An individual or group with a financial stake in the organization b) An external individual or group that is able to ... individual or group with an interest in the organization's activities and who seeks to influence them

Last Answer : An individual or group with an interest in the organization's activities and who seeks to influence them

Which of the following is typically NOT seen as being associated with strategic decision ? A. The Organization’s long term direction B. The detailed planning of a Department’s work over the next month C. The Values and expectations of powerful players in the Organization D. The scope of the Organization’s activities

Description : Which of the following is typically NOT seen as being associated with strategic decision ? A. The Organization's long term direction B. The detailed planning of a Department's work over the ... and expectations of powerful players in the Organization D. The scope of the Organization's activities

Last Answer : The detailed planning of a Department’s work over the next month

In the context of strategic management resources can be defined as: a) The knowledge and skills within the organization b) Something that an organization owns or controls that cannot be copied c) Something that an organization owns, controls or has access to on a semipermanent basis d) The physical assets of the organization

Description : In the context of strategic management resources can be defined as: a) The knowledge and skills within the organization b) Something that an organization owns or controls that cannot be copied c) ... , controls or has access to on a semipermanent basis d) The physical assets of the organization

Last Answer : Something that an organization owns, controls or has access to on a semipermanent basis

Which of the following are typically seen as being associated with strategic decisions? Select one: a. HR and Technology strategies b. The detailed planning of a department's work over the next monthc. The organization’s long-term directiond. values and expectations of powerful actors in the organization

Description : Which of the following are typically seen as being associated with strategic decisions? Select one: a. HR and Technology strategies b. The detailed planning of a department's work over the ... The organization's long-term direction d. values and expectations of powerful actors in the organization

Last Answer : The organization’s long-term direction

Which risk is connected to the circumstance outside the project that may influence the scope of work and the performance of the organization? A.Operational Risk B.Financial Risk C.Strategic Risk D.Contextual Risk

Description : Which risk is connected to the circumstance outside the project that may influence the  scope of work and the performance of the organization?  A.Operational Risk  B.Financial Risk  C.Strategic Risk  D.Contextual Risk

Last Answer : D.Contextual Risk

An objective, logical, systematic approach for making major decisions in an Organization is a way to describe the Strategic Management process

Description : An objective, logical, systematic approach for making major decisions in an Organization is a way to describe the Strategic Management process

Last Answer : True

The Strategic Management Process is ------------- : A. A set of activities that is guaranteed to prevent Organizational failure B. A process concerned with a Firm’s Resources, Capabilities & Competences but not the conditions in it’s external environment C. A set of activities that to-date have not been used successfully in the not-for-profit sector D. A dynamic process involving the full set of commitments, decisions and actions related to the Company

Description : The Strategic Management Process is ------------- : A. A set of activities that is guaranteed to prevent Organizational failure B. A process concerned with a Firm's Resources, ... D. A dynamic process involving the full set of commitments, decisions and actions related to the Company

Last Answer : A dynamic process involving the full set of commitments, decisions and actions related to the Company

In the context of strategic management, stakeholders can be defined as: A. An individual or group with a financial stake in the organization B. An external individual or group that is able to impose constraints on the organization C. Internal groups or individuals that are able to influence strategic direction of the organization D. An individual or group with an interest in the organization's activities and who seeks to influence them

Description : In the context of strategic management, stakeholders can be defined as: A. An individual or group with a financial stake in the organization B. An external individual or group that is able to ... individual or group with an interest in the organization's activities and who seeks to influence them

Last Answer : Internal groups or individuals that are able to influence strategic direction of the organization

In the context of strategic management, stakeholders can be defined as: A. An individual or group with a financial stake in the organization B. An external individual or group that is able to impose constraints on the organization C. Internal groups or individuals that are able to influence strategic direction of the organization D. An individual or group with an interest in the organization's activities and who seeks to influence them

Description : In the context of strategic management, stakeholders can be defined as: A. An individual or group with a financial stake in the organization B. An external individual or group that is able to ... individual or group with an interest in the organization's activities and who seeks to influence them

Last Answer : Internal groups or individuals that are able to influence strategic direction of the organization

The first phase of the Strategic Management process is forecast based planning

Description : The first phase of the Strategic Management process is forecast based planning

Last Answer : False

The Strategic Management process is the way in which Strategists determine Objectives & -- A. Make document recording B. Make Coordinating C. Make Strategic Decisions D. Make Planning

Description : The Strategic Management process is the way in which Strategists determine Objectives & -- A. Make document recording B. Make Coordinating C. Make Strategic Decisions D. Make Planning

Last Answer : Make Strategic Decisions

___________________ are those plans that are extended beyond three years. (a) Short Term Plans ; (b) Long Term Plans ; (c) Specific Plans ; (d) Strategic Plans

Description : ___________________ are those plans that are extended beyond three years. (a) Short Term Plans ; (b) Long Term Plans ; (c) Specific Plans ; (d) Strategic Plans

Last Answer :  (b) Long Term Plans ; 

The primary focus of Strategic Management is : A. Strategic Analysis B. The total Organization C. Strategy formulation D. Strategy implementation

Description : The primary focus of Strategic Management is : A. Strategic Analysis B. The total Organization C. Strategy formulation D. Strategy implementation

Last Answer : The total Organization

The terms Strategic Management and Strategic Planning are synonymous with each other

Description : The terms Strategic Management and Strategic Planning are synonymous with each other

Last Answer : True

Strategy developed by visionary CEO is ____________ mode of strategic management a. Visionary b. planning c. CEO d. entrepreneurship

Description : Strategy developed by visionary CEO is ____________ mode of strategic management a. Visionary b. planning c. CEO d. entrepreneurship

Last Answer : entrepreneurship

Strategy is developed by the visionary Chief Executive in------- mode of Str.Management : A. Planning mode B. Adaptive mode C. Strategic mode D. Entrepreneurial mode

Description : Strategy is developed by the visionary Chief Executive in------- mode of Str.Management : A. Planning mode B. Adaptive mode C. Strategic mode D. Entrepreneurial mode

Last Answer : Entrepreneurial mode

Strategy is developed by the visionary Chief Executive in------- mode of Str.Management : A. Planning mode B. Adaptive mode C. Strategic mode D. Entrepreneurial mode

Description : Strategy is developed by the visionary Chief Executive in------- mode of Str.Management : A. Planning mode B. Adaptive mode C. Strategic mode D. Entrepreneurial mode

Last Answer : Entrepreneurial mode

Strategic decisions are …… A. Medium-scale B. Operational & Tactical C. Company’s “production plan” D. None of these options

Description : Strategic decisions are …… A. Medium-scale B. Operational & Tactical C. Company’s “production plan” D. None of these options

Last Answer : None of these options

Strategic decisions are …… A. Medium-scale B. Operational & Tactical C. Company’s “production plan” D. None of these options

Description : Strategic decisions are …… A. Medium-scale B. Operational & Tactical C. Company’s “production plan” D. None of these options

Last Answer : None of these options

The three major types of forecasts used by business organizations are (a) strategic, tactical, and operational ; (b) economic, technological, and demand (c) exponential smoothing, Delphi, and regression ; (d) departmental, organizational, and territorial

Description : The three major types of forecasts used by business organizations are (a) strategic, tactical, and operational ; (b) economic, technological, and demand (c) exponential smoothing, Delphi, and regression ; (d) departmental, organizational, and territorial

Last Answer : (b) economic, technological, and demand

__________ is the process of using the resources and personnel of an organization in an orderly way to achieve the objectives and long-term goals of the organization. (a) Planning ; (b) Organizing ; (c) Leading ; (c) Controlling

Description : __________ is the process of using the resources and personnel of an organization in an orderly way to achieve the objectives and long-term goals of the organization. (a) Planning ; (b) Organizing ; (c) Leading ; (c) Controlling 

Last Answer : (b) Organizing ;

Which of the following is NOT an advantage of Strategic Management ? A. It provides organizations with a clearer sense of direction and purpose B. It helps improve the political, economic, social and technological environment of the Orgn C. It helps orientate Mgt. decisions to relevant environmental conditions D. It helps organizations be proactive than reactive

Description : Which of the following is NOT an advantage of Strategic Management ? A. It provides organizations with a clearer sense of direction and purpose B. It helps improve the political, ... orientate Mgt. decisions to relevant environmental conditions D. It helps organizations be proactive than reactive

Last Answer : It helps improve the political, economic, social and technological environment of the Orgn

The type of planning that is equated with more specific data or detailed in nature is called:1. Strategic 2. Operational 3. Short term 4. Tactical

Description : The type of planning that is equated with more specific data or detailed in nature is called: 1. Strategic  2. Operational  3. Short term  4. Tactical

Last Answer : 4. Tactical

)Another name of strategic planning is: 1. Short term 2. Operational 3. Tactical 4. Top down

Description : )Another name of strategic planning is: 1. Short term  2. Operational  3. Tactical  4. Top down

Last Answer : 4. Top down

What term is used for an organization capable of continual regeneration from a variety of knowledge and within a culture that encourages mutual questioning. A. Strategic organisation B. Learning organisation C. Pluralistic organisation D. Evolutionary organisation

Description : What term is used for an organization capable of continual regeneration from a variety of knowledge and within a culture that encourages mutual questioning. A. Strategic organisation B. Learning organisation C. Pluralistic organisation D. Evolutionary organisation

Last Answer : Learning organisation

What does Strategy describe? A. The general direction in which an organization plans to move to attain its goals B. Framework for managerial decisions C. Leveraging strengths to gain competitive advantage D. All of these options

Description : What does Strategy describe? A. The general direction in which an organization plans to move to attain its goals B. Framework for managerial decisions C. Leveraging strengths to gain competitive advantage D. All of these options

Last Answer : All of these options

What does Strategy describe? A. The general direction in which an organization plans to move to attain its goals B. Framework for managerial decisions C. Leveraging strengths to gain competitive advantage D. All of these options

Description : What does Strategy describe? A. The general direction in which an organization plans to move to attain its goals B. Framework for managerial decisions C. Leveraging strengths to gain competitive advantage D. All of these options

Last Answer : All of these options

What is "strategic control"? a) Control over the production process within an organization, in the sense of determining how the employees of an organization perform their work. b) The process by which one entity influences, to varying degrees, the behaviour and output of another entity through informal mechanisms. c) Control over the means and methods on which the whole conduct of an organization depends. d) Control over the production process within an organization, in the sense of determining how informal practices are performed.

Description : What is "strategic control"? a) Control over the production process within an organization, in the sense of determining how the employees of an organization perform their work. b) The ... production process within an organization, in the sense of determining how informal practices are performed.

Last Answer : Control over the means and methods on which the whole conduct of an organization depends.

These are the operational approaches by which management intends to achieve its objectives. a. Business risk approaches b. Strategies c. Planning methods d. Operational plans.

Description : These are the operational approaches by which management intends to achieve its objectives. a. Business risk approaches b. Strategies c. Planning methods d. Operational plans.

Last Answer : Strategies

For the Strategic Planning process to be effective, Organizations must continually strengthen the “good ethics is good business” policy

Description : For the Strategic Planning process to be effective, Organizations must continually strengthen the “good ethics is good business” policy

Last Answer : True

Technology scanning refers to: a) strategies of multinational firms based on technologies. b) locating a firm's research centres in countries or regions where relevant cutting-edge research is pursuedc) a framework for strategic planning in the knowledge economy.d) the process of identifying technologies in the external business environment.

Description : Technology scanning refers to: a) strategies of multinational firms based on technologies. b) locating a firm's research centres in countries or regions where relevant cutting-edge research ... the knowledge economy. d) the process of identifying technologies in the external business environment.

Last Answer : the process of identifying technologies in the external business environment.

An audit designed to evaluate the efficiency and effectiveness of an organization or some or part thereof would not come under the title of a. Performance audit. b. Compliance audit. c. Management audit. d. Operational audit

Description : An audit designed to evaluate the efficiency and effectiveness of an organization or some or part thereof would not come under the title of a. Performance audit. b. Compliance audit. c. Management audit. d. Operational audit

Last Answer : Compliance audit.

In which one of the following, Crisis Management is reflected ? (A) Future expansion plans of business (B) Organization Development Programme (C) Short-term Manpower Planning (D) Prudent managerial leadership

Description : In which one of the following, Crisis Management is reflected ? (A) Future expansion plans of business (B) Organization Development Programme (C) Short-term Manpower Planning (D) Prudent managerial leadership

Last Answer : Answer: Prudent managerial leadership

From the point of view of international business, an organization that enjoys competitive advantage in an industry has done so by: A. Focusing on long-term profit. B. Charging lower prices than competition. C. Creating superior value for customers. D. Constantly enlarging its marketing activities.

Description : From the point of view of international business, an organization that enjoys competitive advantage in an industry has done so by: A. Focusing on long-term profit. B. Charging lower prices than competition. C. Creating superior value for customers. D. Constantly enlarging its marketing activities.

Last Answer : Creating superior value for customers.

A motivational approach in which an organization‟s financial statements are opened to and shared with all of the employees is called ___________ (a) Open Book Management ; (b) Pay for Performance Program ; (c) Reinforcement Theory (d) Feedback

Description : A motivational approach in which an organization‟s financial statements are opened to and shared with all of the employees is called ___________ (a) Open Book Management ; (b) Pay for Performance Program ; (c) Reinforcement Theory (d) Feedback

Last Answer : (a) Open Book Management ; 

What is NOT a ‘Critical Tasks of Strategic Management? A. Formulate the company’s mission B. Select a set of short-term objectives that will achieve the most desirable results C. Conduct an internal analysis D. Assess the external environment – competitive and general contexts

Description : What is NOT a ‘Critical Tasks of Strategic Management? A. Formulate the company’s mission B. Select a set of short-term objectives that will achieve the most desirable results C. Conduct an internal analysis D. Assess the external environment – competitive and general contexts

Last Answer : Select a set of short-term objectives that will achieve the most desirable results

What is NOT a ‘Critical Tasks of Strategic Management? A. Formulate the company’s mission B. Select a set of short-term objectives that will achieve the most desirable results C. Conduct an internal analysisD. Assess the external environment – competitive and general contexts

Description : What is NOT a ‘Critical Tasks of Strategic Management? A. Formulate the company’s mission B. Select a set of short-term objectives that will achieve the most desirable results C. Conduct an internal analysis D. Assess the external environment – competitive and general contexts

Last Answer : Select a set of short-term objectives that will achieve the most desirable results

Which of the following statem Which of the following statements does NOT apply to ents does NOT apply to a production plan? a production plan? a)Plans are consistent with company's strategic goals and objectives b)Enables the assessment of financial and physical resource needs without excessive detail c)Serves as a bridge between the strategic and operational plans d)Provides a view of detailed work-force schedules

Description : Which of the following statem Which of the following statements does NOT apply to ents does NOT apply to a production plan? a production plan? a)Plans are consistent with company's strategic ... a bridge between the strategic and operational plans d)Provides a view of detailed work-force schedules

Last Answer : c)Serves as a bridge between the strategic and operational plans

A service firm's aggregate plan A service firm's aggregate plan links the firm's st links the firm's strategic goals and objectives wit rategic goals and objectives with detailed h detailed operational plans called: a)Production plan b)Staffing plan c)Work-force schedule d) None of the above

Description : A service firm's aggregate plan A service firm's aggregate plan links the firm's st links the firm's strategic goals and objectives wit rategic goals and objectives with detailed h detailed operational plans called: a)Production plan b)Staffing plan c)Work-force schedule d) None of the above

Last Answer : c)Work-force schedule

Standing plans that furnish broad guidelines for channeling management thinking in specified direction are called (a) Single-use plans ; (b) Programs ; (c) Procedures ; (d) Policies

Description : Standing plans that furnish broad guidelines for channeling management thinking in specified direction are called (a) Single-use plans ; (b) Programs ; (c) Procedures ; (d) Policies

Last Answer : (d) Policies 

In the context of strategic management resources can be defined as: A. The knowledge and skills within the organization B. Something that an organization owns or controls that cannot be copied C. Something that an organization owns, controls or has access to on a semipermanent basis D. The physical assets of the organization

Description : In the context of strategic management resources can be defined as: A. The knowledge and skills within the organization B. Something that an organization owns or controls that cannot be copied C. ... , controls or has access to on a semipermanent basis D. The physical assets of the organization

Last Answer : The physical assets of the organization

Operations include…. A. Organization-wide decisions B. Creating a new direction C. Tactically specific D. Long Term

Description : Operations include…. A. Organization-wide decisions B. Creating a new direction C. Tactically specific D. Long Term

Last Answer : Tactically specific

Operations include…. A. Organization-wide decisions B. Creating a new direction C. Tactically specific D. Long Term

Description : Operations include…. A. Organization-wide decisions B. Creating a new direction C. Tactically specific D. Long Term

Last Answer : Tactically specific

The fundamental purpose of an Organization’s Mission statement is to : A. Create a good human relations climate in the Organization B. Define the Organization’s purpose in Society C. Define the operational structure of the Organization D. Generate good public relations for the Organization

Description : The fundamental purpose of an Organization’s Mission statement is to : A. Create a good human relations climate in the Organization B. Define the Organization’s purpose in Society C. Define the operational structure of the Organization D. Generate good public relations for the Organization

Last Answer : Define the Organization’s purpose in Society

Which of the following is NOT a major element of the strategic management process? A. Formulating strategy B. Implementing strategy C. Evaluating strategy D. Assigning administrative tasks

Description : Which of the following is NOT a major element of the strategic management process? A. Formulating strategy B. Implementing strategy C. Evaluating strategy D. Assigning administrative tasks

Last Answer : Assigning administrative tasks

The Strategic Management process should be addressed only by top-level Executives. Mid-level and Low-level Employees are best equipped to implement Co’s Strategies

Description : The Strategic Management process should be addressed only by top-level Executives. Mid-level and Low-level Employees are best equipped to implement Co’s Strategies

Last Answer : False

Application of the Strategic Management process is typically more formal in larger and well established Organizations

Description : Application of the Strategic Management process is typically more formal in larger and well established Organizations

Last Answer : True

Identifying an Organization’s existing Vision, Mission, Objectives and Strategies is the final step for the Strategic Management Process

Description : Identifying an Organization’s existing Vision, Mission, Objectives and Strategies is the final step for the Strategic Management Process

Last Answer : False

Strategy implementation is often considered to be the most difficult stage in the Strategic Management process because it requires personal discipline, commitment and sacrifice

Description : Strategy implementation is often considered to be the most difficult stage in the Strategic Management process because it requires personal discipline, commitment and sacrifice

Last Answer : True