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 : 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 : 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 : 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 : Application of the Strategic Management process is typically more formal in larger and well established Organizations
Last Answer : True
Description : Identifying an Organization’s existing Vision, Mission, Objectives and Strategies is the final step for the Strategic Management Process
Last Answer : False
Description : Strategic planning in service organizations is all about: A. Where the organization is heading B. Where the organization should be heading. C. How the organization needs to change in order to be more effective D. What the organization intends to accomplish for the community
Last Answer : C. How the organization needs to change in order to be more effective D. What the organization intends to accomplish for the community
Description : The origins of Business Policy & Strategic Management can be retraced to a. 1930 b. 1911 c. 1879 d. 1938
Last Answer : 1911
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 : _________________ 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 : 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 : 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 : 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 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 phase of the Strategic Management process is forecast based planning
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 : 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 : The terms Strategic Management and Strategic Planning are synonymous with each other
Description : Which of these is not a reason why some firms do no strategic planning? a. Laziness b. Competitive leadership c. Honest difference of opinion d. Poor reward structures
Last Answer : Competitive leadership
Description : Strategy developed by visionary CEO is ____________ mode of strategic management a. Visionary b. planning c. CEO d. entrepreneurship
Last Answer : entrepreneurship
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 : Which of these is NOT a reason why some Firms do no Strategic Planning ? A. Company is Lazy B. Competitive Leadership C. Honest difference of opinion D. Poor reward structure
Last Answer : Competitive Leadership
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 : 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 : How can a transaction processing system help an organization's strategic-level planning?
Last Answer : What is the answer ?
Description : Effective Strategic Management is ritualistic, predictable and formal
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 : 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 : A continually evolving network of independent companies, suppliers, customers, even competitors, linked together to share skills, costs, and access to one another s markets is called a/an ... Virtual organization ; (b) Boundaryless organization ; (c) Modular organization (d) Integrated organization
Last Answer : (a) Virtual organization ;
Description : Annual Objectives are long-term milestones that Organizations must achieve to reach short-term Objectives
Description : An optimal business partner in a successful international strategic alliance should have two key qualities: a) Corporate culture fit and national culture fit b) Partner-related criteria and task-related criteria c) Cultural fit and trust d) Strategic fit and cultural fit
Last Answer : Strategic fit and cultural fit
Description : What is the purpose of the CAGE framework? a) The CAGE framework investigates to what extent home demand, home factor conditions and domestic rivalry are important to multinational firms. ... d) The CAGE framework a checklist for forecasting political, economic, strategic or technological factors.
Last Answer : The CAGE framework analyses bilateral differences and commonalities between two countries.
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 : Stability Strategy is a _______________ strategy a. Business level b. Corporate level c. strategic level d. Functional
Last Answer : Corporate level
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 : Stability Strategy is a ------------- Strategy : A. Corporate level B. Business level C. Functional level D. Strategic level
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 : 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 : 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 : 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 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 : An objective, logical, systematic approach for making major decisions in an Organization is a way to describe the Strategic Management process
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 final step in Strategic Management process is implementing the Objectives Answer : False