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 : __________ 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 ;
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 : The _________ answers the question "What do we want to become?" whereas _________answers the question "What is our business?" a. vision statement; mission statement b. short-term objectives; long-term objectives c. objectives; strategies d. mission; vision
Last Answer : vision statement; mission statement
Description : Identifying an Organization’s existing Vision, Mission, Objectives and Strategies is the final step for the Strategic Management Process
Last Answer : False
Description : An Organization’s general expression of it’s overall purpose is known as it’s: A. Objectives B. Vision C. Culture D. Mission
Last Answer : Mission
Description : The SWOT approach assesses an organization's (a) Speed, Wants, Order, Timing ; (b) Structure, Workforce, Organization, Types (b) Strengths, Weaknesses, Opportunities, Threats. ; (d) Signs, Worries, Objectives, Techniques
Last Answer : (b) Strengths, Weaknesses, Opportunities, Threats. ;
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 functions or activities requires recruiting and placing qualified personnel needed for the organization so that it may achieve its objectives and goals? (a) Planning ; (b) Staffing ; (c) Organizing ; (c) Controlling
Last Answer : (b) Staffing ;
Description : Annual Objectives are especially important in Strategy Formulation
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 : 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 : Boehm suggests an approach that addresses project objectives, milestones and schedules, responsibilities, management and technical approaches and required resources, This principle is called as . a. W3HH principle b. WHO principle c. W5HH principle d. None of the above.
Last Answer : c. W5HH principle
Description : For the Strategic Planning process to be effective, Organizations must continually strengthen the “good ethics is good business” policy
Last Answer : True
Description : The means by which long-term objectives will be achieved are a. mission statements b. strategies. c. vision statements. d. long-term goals
Last Answer : strategies
Description : The means by which long-term objectives achieved are --------------- : A. Mission statements B. Strategies C. Vision statements D. long-term goals
Last Answer : Strategies
Description : What are the means by which long-term objectives could be achieved? A. Strategies B. Policies C. Strengths D. Opportunities
Description : How many units must be sold if company wants to achieve a profit of Rs. 11,000 for the year? (a) 2,500 units (b) 9,833 units (c) 10,625 units (d) 13,409 units
Last Answer : (d) 13,409 units
Description : What term is used for an Organization’s abilities to renew and recreate it’s strategic Capabilities to meet the needs of a changing Environment ? A. Competent Substitution B. Core Competency C. Renewability D. Dynamic Capabilities
Last Answer : Dynamic Capabilities
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 ;
Description : (1)Milestones established by the customer must be adhered to by: 1. Project manager 2. Functional managers 3. The customer 4. Both a and b
Last Answer : 4. Both a and b
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 : Using organization's existing under-utilized resources or capabilities (technologies, distribution channels, brands etc.) to new markets, products or services, is known as…. A. Economies of Scope B. The Experience Curve C. Economies of Capacity D. Economies of Scale
Last Answer : Economies of Scope
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 : Many Organizations mistakenly spend more time and effort on the implementation of a Plan than on the formulation of the Plan itself
Description : Application of the Strategic Management process is typically more formal in larger and well established Organizations
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 : Functional benchmarking involves: a) benchmarking your competitors. b) benchmarking global competitors in your industry. c) benchmarking organizations with regards to specific business activities ... d) benchmarking other multinational firms with similar corporate strategies or similar customers
Last Answer : benchmarking organizations with regards to specific business activities or processes
Description : Reputation' in the context of an organization's resources can provide competitive advantage because: a) It is difficult to copy b) It is based on word-of-mouth c) It is a threshold resource d) It is explicit
Last Answer : It is difficult to copy
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 : 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 : Which strategy would be effective when the new products have a counter cyclical sales pattern compared to an organization's present products? a. Forward integration b. Retrenchment c. Horizontal diversification d.Market diversification
Last Answer : Forward integration
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
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
Description : According to ---------- the managers and workers should work together as partners and of equal importance for the organizations success (a) X theory (b) Y theory ; (c) Z theory ; (d) 2 Factor theory
Last Answer : (c) Z theory ;
Description : A/An ________ is a formal evaluation of an organization's financial statements, performed either by an outside accounting firm or by an internal department. (a) Revenue operating budget ; (b) Incident log ; (c) Financial audit ; (d) Balance sheet budget
Last Answer : (c) Financial audit ;
Description : Which of the factors listed below is not a reason for decision making in organizations being a complex process? (a) People have to make decisions in a historical context (b) Several ... range of possible outcomes (d) Factors in the current context of the organization affect the decision
Last Answer : (c) Modern information systems enable people to evaluate a range of possible outcomes
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
Description : The marketing function's main concern is with (a) producing goods or providing services ; (b) procuring materials, supplies, and equipment (c) building and maintaining a positive image ; (d) generating the demand for the organization's products or services
Last Answer : (d) generating the demand for the organization's products or services
Description : The three major functions of business organizations (a) are mutually exclusive ; (b) exist independently of each other ; (c) overlap (d) function independently of each other
Last Answer : (c) overlap
Description : Which of the following are the primary functions of all organizations? (a) operations, marketing, and human resources (b) marketing, human resources, and finance/accounting (c) sales, quality control, and operations (d) research and development, finance/accounting, and purchasing
Last Answer : (a) operations, marketing, and human resources
Description : Which of the following is NOT associated with learning organizations or knowledge management? (a) COIN ; (b) A recommended response to a rapidly changing world (c) Systematic gathering and sharing of useful information. (d) PSTN
Last Answer : (d) PSTN
Description : The difference between an e-business enhanced organization and an e-business enabled organization is: (a) Only an e-business enhanced organization uses the Internet. (b) Only an e-business ... applications. (d) Only e-business enhanced organizations have e-business units within their organization.
Last Answer : (d) Only e-business enhanced organizations have e-business units within their organization.
Description : ________ is characteristic of liquidity ratios. (a) Organization's ability to meet its current debt obligations (b) Organization's use of debt to finance its assets and whether it's able to meet the interest ... the debt ;(c) How efficiently the firm is using its assets ;(d) None of given options
Last Answer : (a) Organization’s ability to meet its current debt obligations
Description : A common ingredient in organizations that successfully create functional conflict is that they: (a) reward dissent and punish conflict avoiders. (b) shoot the messenger. (c) formally assign devil’s advocates. ; (d) avoid risky situations.
Last Answer : (a) reward dissent and punish conflict avoiders.
Description : Which one of the following views on conflict dominates in most actual groups and organizations? (a) human relations ; (b) interactionist ; (c) traditional ; (d) functional
Last Answer : (c) traditional ;