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 : The final step in Strategic Management process is implementing the Objectives Answer : False
Last Answer : False
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 : 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 : 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 : 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 : 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 : 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.
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 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 : 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 : 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 : 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 : 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 : Application of the Strategic Management process is typically more formal in larger and well established Organizations
Last Answer : True
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
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 : 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 first step in the Strategic Management process is analyzing the External Environment
Description : For the Strategic Planning process to be effective, Organizations must continually strengthen the “good ethics is good business” policy
Description : The final stage in Strategic Management is Strategy implementation
Description : Strategic fit can be defined as: a) developing strategies based on opportunities and threats in the external environment. b) forecasting opportunities and threats in the external environment c) ... environment. d) matching the resources and activities of a firm to the external environment.
Last Answer : matching the resources and activities of a firm to the external environment.
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 : 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 : 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 : 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 : 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 : Strategic Mission ------------------ : A. Is a statement of a Firm's unique purpose & scope of Operations B. Is an internally focused affirmation of the Organizational, Societal and Ethical ... the Co. intends to compete D. Is developed by a Firm before the Firm develops it's Strategic Intent
Last Answer : Is a statement of a Firm’s unique purpose & scope of Operations
Description : Ms. Shah wants to open a new store location 100 kms from her existing shop. Which of these strategies is she considering? A. Expansion B. Market development C. Market penetration D. Product development
Last Answer : Market development
Description : Which of the following sentences best summarizes the differences between the red and blue oceans strategies? A. Red oceans are about avoiding head-to-head competition while blue oceans are ... are occasionally created well beyond existing industry boundaries. D. All the above options are valid
Last Answer : In the red oceans, industry boundaries are defined and accepted and the competitive rules of the game are known. Blue oceans are occasionally created well beyond existing industry boundaries.
Description : Which of the following sentences best summarizes the differences between the red and blue oceans strategies? A. Red oceans are about avoiding head-to-head competition while blue oceans are ... occasionally created well beyond existing industry boundaries. D. All the above options are valid
Last Answer : In the red oceans, industry boundaries are defined and accepted and the competitive rules of the game are known. Blue oceans are occasionally created well beyond existing industry boundaries
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 : 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 statement is true, with respect to Corporate Level Managers' (CEO's, VP's etc)? A. Translate action-oriented, corporate level direction and intent into concrete objectives and strategies for SBU' ... level of Technical Skills C. Demand a high level of Human Skills D. None of these options
Last Answer : None of these options
Description : What are the means by which long-term objectives could be achieved? A. Strategies B. Policies C. Strengths D. Opportunities
Description : A Vision statement answers the Question: “What is our Business?” whereas a Mission statement answers: “What do we want to become?
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 : 2) To achieve its marketing objectives, Johnson & Johnson has formulated a set of marketing strategies. This set of strategies is J & J's A)corporate strategy. B)marketing programme. C)overall strategy. D)marketing tactic. E)strategic plan.
Last Answer : B)marketing programme.
Description : Annual Objectives are long-term milestones that Organizations must achieve to reach short-term Objectives
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 : The long -term view, or vision, of what the organisation wants to become is called the A)mission statement. B)purpose statement. C)vision statement. D)marketing plan. E)strategic vision.
Last Answer : A)mission statement.
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