Description : A strategic manager that seeks to reach acceptable profit targets as opposed to making as much profit as possible is making decisions of which type? a) Satisfactory b) Satisficing c) Irrational d) Optimal
Last Answer : Satisficing
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
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 : Which of these statements are true, with respect to Dimensions of Strategic Decisions'? A. Strategic issues require middle-management decisions B. Strategic issues require large amounts of the ... . Strategic issues require considering only the firm's external environment D. None of these options
Last Answer : Strategic issues require large amounts of the firm’s resources
Description : Which of these statements are true, with respect to Dimensions of Strategic Decisions'? A. Strategic issues require middle-management decisions B. Strategic issues require large amounts of ... Strategic issues require considering only the firm's external environment D. None of these options
Description : Strategic management execution is mainly responsibility of a. Top Management b. Middle Management C. Lower Management D. All of the above
Last Answer : Top Management
Description : The recently emerged type of managerial job is ______________ (a) Top Manager ; (b) Middle Manager ; (c) First Line Manager ; (d) Team Leader
Last Answer : (d) Team Leader
Description : Subsidiaires located in countries which are less crucial for success while holding low level of resources and capabilities are...? A. Dogs B. Implementers C. White Knights D. Strategic Leaders
Last Answer : Implementers
Description : Subsidiaires located in countries which are crucial for success while holding valuable resources and capabilities are...? A. Bright Stars B. Sunshine C. Strategic Leaders D. White Knights
Last Answer : Strategic Leaders
Description : International strategic options can be derived, from a consideration of geographical dispersion or concentration of various activities and.... A. Degree of international co-ordination B. Degree of Political Stability C. Degree of Competitive Advantage D. None of the above
Last Answer : Degree of international co-ordination
Description : For international companies, sources of competitive advantage can be drawn from the..............configuration of their........ network A. Technology, Security B. Strategic, Resource C. International, Value D. None of the above
Last Answer : International, Value
Description : _________________ happens when organizations lose pace with changes in the operating enviroment? A. Strategic Flaw B. Strategic Drift C. Strategic Blunder D. Strategic Disaster
Last Answer : Strategic Drift
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 : Strategic drift is…. A. When strategies progressively fail to address the environmental dynamics, and performance deteriorates. B. Mismatch between Vision Statement and Value Statement C. Mismatch between Vision Statement and Mission Statement D. Mismatch between Mission Statement and Resources
Last Answer : When strategies progressively fail to address the environmental dynamics, and performance deteriorates.
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 : A strategic gap is an un-exploited competitive opportunity. The following is an examples of a Strategic Gap. A. Opportunities in substitute industries B. Opportunities for complementary products and services C. Opportunities over time D. All of these options are valid
Last Answer : All of these options are valid
Description : Which of these statements apply to Strategic Groups. A. Organizations within an industry following similar strategies or competing on similar bases. B. Examples, in grocery retailing are supermarkets ... the similarities and differences in bases of segmentation D. All of these options apply
Last Answer : All of these options apply
Description : What term is used for an organisation 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 : Switching costs refer to the: A. Cost to a producer to exchange equipment in a facility when new technologies emerge. B. Cost of changing the firm’s strategic group. C. Costs suppliers incur when selling to a different customer. D. Costs customers incur when buying from a different supplier.
Last Answer : Costs customers incur when buying from a different supplier.
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 : The following is NOT a benefit of Strategic Management A. Resistance to change is reduced B. Reduces gaps/overlaps in activities among employees C. All of these options are correct D. Formulates a clear defect reduction plan in the quality department
Last Answer : Formulates a clear defect reduction plan in the quality department
Description : The ideal strategic management team DOES NOT includes…. A. Chief executive officer (CEO) B. Product managers C. Heads of functional areas D. Shop-floor managers
Last Answer : Shop-floor managers
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
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
Description : Strategic Management recognizes the trade-offs between effectiveness & efficiency
Last Answer : True
Description : For the Strategic Planning process to be effective, Organizations must continually strengthen the “good ethics is good business” policy
Description : Effective Strategic Management is ritualistic, predictable and formal
Description : Application of the Strategic Management process is typically more formal in larger and well established Organizations
Description : Identifying an Organization’s existing Vision, Mission, Objectives and Strategies is the final step for the Strategic Management Process
Description : Strategic Management is an attempt to organize qualitative and quantitative information in a way that allows effective decisions to be made under conditions of uncertainty
Description : An objective, logical, systematic approach for making major decisions in an Organization is a way to describe the Strategic Management process
Description : The final stage in Strategic Management is Strategy implementation
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 : The terms Strategic Management and Strategic Planning are synonymous with each other
Description : Strategic Management focusses on integrating functions such as Marketing, Finance / Accounting, Production / Operations, R & D and Info.Systems to achieve Orgnl. success
Description : Strategic Factors are those External and Internal Elements that would determine the future of the Corporation
Description : Strategic Manageability is the ability to shift from one dominant Strategy to another
Description : One benefit of Strategic Management is a sharper focus on what is strategically important
Description : The first phase of the Strategic Management process is forecast based planning
Description : The final step in Strategic Management process is implementing the Objectives Answer : False
Description : The first step in the Strategic Management process is analyzing the External Environment
Description : A strategic gap is an un-exploited competitive opportunity. The following is an example of a Strategic Gap. A. Opportunities in substitute industries B. Opportunities for complementary products and services C. Opportunities over time D. All of these options are valid
Description : Which of these statements apply to Strategic Groups. A. Organizations within an industry following similar strategies or competing on similar bases. B. Examples, in grocery retailing are supermarkets, ... the similarities and differences in bases of segmentation D. All of these options apply.
Last Answer : All of these options apply.
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