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 : 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 primary focus of Strategic Management is : A. Strategic Analysis B. The total Organization C. Strategy formulation D. Strategy implementation
Last Answer : The total Organization
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 : The _________ should plan well and execute perfectly the implementation of ERP. A. Organisation B. System developers C. Vendors D. Top Management
Last Answer : B. System developers
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 : A Communications Management Plan does the following: A. Coordinates an effort to communicate in meetings effectively B. Lays out a plan on how to communicate with your Project ... and efficiently. D. Coordinates the communication between project leaders and uninterested project members
Last Answer : C. Lays out the approach and method for delivering information effectively and efficiently.
Description : Annual Objectives are especially important in Strategy Formulation
Last Answer : False
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 : 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 : 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 : Which is one of the most critical steps in the ERP implementation? A. Creation of Organisational Model B. Creation of Integrated Data Model C. Creation of Business Model D. Creation of Data Model
Last Answer : B. Creation of Integrated Data Model
Description : ------------ is a condition in which the decision maker chooses a course of action without complete knowledge of the consequences that will follow implementation. (a) Risk ; (b) Uncertainty ; (c) Ambiguity ; (d) Accuracy
Last Answer : (b) Uncertainty ;
Description : Employee recognition can: (a) Be a strong motivator. ; (b) Lead to unrealistic expectations. ; (c) Help with MBO program implementation. ; (d) Assist with goal setting.
Last Answer : (a) Be a strong motivator. ;
Description : How does a project differ from an ongoing work effort? A. It is unique B. It involves more than one person C. It has a project manager D. It is not a repetitive process that follows an organization’s existing procedures (Ans.)
Last Answer : D. It is not a repetitive process that follows an organization’s existing procedures (Ans.)
Description : Which one of the following characteristics is part of the definition of a group? (a) unstable relationship ; (b) interdependent effort ; (c) personal accountability (d) independent behaviour
Last Answer : (b) interdependent effort ;
Description : Today‟s managers understand that the success of any effort at improving quality and productivity must include _____. (a) Quality management programs ; (b) Customer service improvements (c) Employee's participation ; (d) Manufacturing simplification
Last Answer : (c) Employee's participation ;
Description : Getting work done with a minimum effort, expense, or waste is the definition of __________. (a) Management ; (b) Planning ; (c) Efficiency ; (d) Effectiveness
Last Answer : ; (c) Efficiency ;
Description : Getting work done with a minimum of effort, expense or waste is the definition of _________ (a) Effectiveness. ; (b) Management ; (c) Planning. ; (d) Efficiency
Last Answer : ; (d) Efficiency
Description : What is valence? (a) The value or importance an individual places on a reward (b) The importance of doing something well (c) The value of an object to a person (d) The knowledge and effort put into something
Last Answer : (a) The value or importance an individual places on a reward
Description : The theory that individuals act depending upon their evaluation of whether their effort will lead to good performance, whether good performance will be followed by a reward, and whether that reward is attractive ... Equity Theory ; (b) Expectancy Theory ; (c) Empirical Theory ; (d) Outcome Theory
Last Answer : (b) Expectancy Theory ;
Description : Which of the following steps is important to improving expectancy? (a) Create the belief that effort is related to performance. (b) Ask employees what rewards they value. ; (c) Deliver rewards as promised. (d) Make the rewards meaningful.
Last Answer : (a) Create the belief that effort is related to performance
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 : Application of the Strategic Management process is typically more formal in larger and well established Organizations
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 : _________________ 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 : For the Strategic Planning process to be effective, Organizations must continually strengthen the “good ethics is good business” policy
Description : Identifying an Organization’s existing Vision, Mission, Objectives and Strategies is the final step for the Strategic Management Process
Description : Annual Objectives are long-term milestones that Organizations must achieve to reach short-term Objectives
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 : 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 : 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 : 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 : 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 : 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 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 ;