Description : Strategy Formulation, Implementation and Evaluation activities occur at three hierarchical levels in a large diversified Organization: Corporate, Divisional and Functional
Last Answer : True
Description : A possible and desirable future state of an Organization is called --------------- : A. Mission B. Vision C. Strategy Implementation D. Strategy Formulation
Last Answer : Vision
Description : The final stage in Strategic Management is Strategy implementation
Last Answer : False
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
Description : Developing a vision and mission, identifying an organization's external opportunities and threats, and determining internal strengths and weaknesses are all __________ activities. a. strategy-formulation b. strategy-implementation c. long-range planning d. short-range planning
Last Answer : strategy-formulation
Description : Developing a Vision and Mission, identifying an Organization’s external opportunities & threats and determining internal strengths & weaknesses are all -------------- activities : A. Strategy Formulation B. Strategy Implementation C. Long-range Planning D. Short-range Planning
Last Answer : Strategy Formulation
Description : To find out what an organization's strategy is, you should: a) Read the mission statement b) Look at what the organization actually does c) Read the strategic plan d) Ask the CEO
Last Answer : Look at what the organization actually does
Description : Many Organizations mistakenly spend more time and effort on the implementation of a Plan than on the formulation of the Plan itself
Description : One benefit of Strategic Management is a sharper focus on what is strategically important
Description : The purpose of a SWOT Analysis is to analyse ----------- : A. The strategic capability of an Organization B. External and Internal Environments C. The Business Environment and the strategic capability of a Firm relative to Competitors D. The Business Environment in which an Organization operates
Last Answer : The Business Environment and the strategic capability of a Firm relative to Competitors
Description : Which of the following are not so easy for management to influence and change during strategy implementation? A. Style of Leadership B. Strategy C. Systems D. Structure
Last Answer : Style of Leadership
Description : Which of the following are easier for management to influence and change during strategy implementation? A. Staffing B. Style of Leadership C. Structure D. Skills
Last Answer : Structure
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
Description : Strategy developed by visionary CEO is ____________ mode of strategic management a. Visionary b. planning c. CEO d. entrepreneurship
Last Answer : entrepreneurship
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
Description : Which of the following is NOT a major element of Strategic Management process? A. Formulating Strategy B. Implementing Strategy C. Evaluating Strategy D. Assigning administrative Tasks
Last Answer : Assigning administrative Tasks
Description : BT is involved in a process of assessing marketing opportunities and resources, determining marketing objectives, and developing a plan for implementation and control, then BT is involved in A)strategic analysis. B)marketing planning. C)marketing management. D)marketing. E)market organisation
Last Answer : B)marketing planning.
Description : In the marketing planning cycle, the first stage is: A)implementation of the marketing plan. B)revision or formulation of marketing strategy. C)development or revision of marketing objectives ... opportunities and resources. E)development or revision of the plan for implementation and control.
Last Answer : C)development or revision of marketing objectives
Description : In the marketing planning cycle, the final stage is: A)implementation of the marketing plan. B)revision or formulation of marketing strategy. C)development or revision of marketing objectives ... opportunities and resources. E)development or revision of the plan for implementation and control.
Last Answer : A)implementation of the marketing plan.
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
Description : The final step of the strategic management process is ___________. (a) Doing an internal analysis ; (b) Formulating strategies ; (c) Implementing strategies (d) Evaluating results
Last Answer : (d) Evaluating results
Description : An objective, logical, systematic approach for making major decisions in an Organization is a way to describe the Strategic Management process
Description : 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
Last Answer : a process of setting long-term direction for the organization
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
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
Description : Annual Objectives are especially important in Strategy Formulation
Description : Resource Allocation is included in Strategy Formulation
Description : A sustainable competitive advantage requires that: Select one: a. Other companies are not able to duplicate the strategy b. The value creating strategy be in a formulation stage c. Average returns be earned by the company d. Competitors are simultaneously implementing the strategy.
Last Answer : Other companies are not able to duplicate the strategy
Description : ________________ is a set of competitive moves to achieve organizational objectives? A. Competitive Analysis B. Strategy C. Management D. None of the above
Last Answer : Strategy
Description : Which of the following is NOT a characteristic of Strategic Mgt that makes it different : A. It is interdisciplinary B. It has an external focus C. It has an internal focus D. It is concerned with the present direction of the Organisation
Last Answer : It is concerned with the present direction of the Organisation
Description : Ansoff's matrix is useful for what? A. Integrating a business's marketing strategy with general strategic direction B. Establishing an editorial calendar for staff to follow C. Understanding buyer personas and buyer behaviour D. Hiring new staff and training them on marketing tactics
Last Answer : Integrating a business's marketing strategy with general strategic direction
Description : This strategy is an expression of desired strategic direction deliberately formulated & planned in terms of resource allocation, control systems, organizational structure etc. A. Intended strategy B. Realized strategy C. Emergent strategy D. None of these options are valid.
Last Answer : Intended strategy
Description : Strategic Manageability is the ability to shift from one dominant Strategy to another
Description : Stability Strategy is a _______________ strategy a. Business level b. Corporate level c. strategic level d. Functional
Last Answer : Corporate level
Description : In the Exploring Strategy Model, what Heading is used to cover Environment, Capability, Goals and Culture ? A. Strategic Planning B. Strategic Choices C. Strategy in Action D. Strategic Position
Last Answer : Strategic Position
Description : Stability Strategy is a ------------- Strategy : A. Corporate level B. Business level C. Functional level D. Strategic level
Description : PESTLE analysis is: a) a broad framework to help managers understand the environment in which their business operates. b) a checklist to ask how political, economic, strategic or ... strategic or technological factors. d) a framework for strategic analysis of internal and external environment
Last Answer : a broad framework to help managers understand the environment in which their business operates.
Description : Google.com is an example of a firm that: a) adapted well to the business environment within its industry. b) changed the business environment within its industry. c) applied the VRIO framework in global strategic planning. d) applied the SWOT Analysis in global strategic planning
Last Answer : changed the business environment within its industry.
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
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.
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
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
Description : If unprepared, what strategic pressures are recognized as key factors that can weaken the Organization ? A. Competitive and Environmental pressure B. Control at the expense of flexibility C. Lack of Planners D. Competitive & Environmental pressures and excessive control
Last Answer : Competitive & Environmental pressures and excessive control
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.
Description : Conceptual skills relate to a manager‟s ability to (a) Take a strategic view of how parts of the organization function (b) Solve detailed problems in groups (c) Correctly evaluate organizational problems (d) Understand and interact effectively with others in the organization
Last Answer : (a) Take a strategic view of how parts of the organization function