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 : Which of the following is NOT a major element of Strategic Management process? A. Formulating Strategy B. Implementing Strategy C. Evaluating Strategy D. Assigning administrative Tasks
Last Answer : Assigning administrative Tasks
Description : The final step in Strategic Management process is implementing the Objectives Answer : False
Last Answer : False
Description : Identifying an Organization’s existing Vision, Mission, Objectives and Strategies is the final step for the Strategic Management Process
Description : The marketing control process consists of A)establishing goals, market scanning, and market share analysis. B)establishing standards, evaluating performance, and reducing the differences ... objectives, implementing strategies, and reducing the differences between desired and actual performance.
Last Answer : B)establishing standards, evaluating performance, and reducing the differences between desired and actual performance.
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 : 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 : The first step in the Strategic Management process is analyzing the External Environment
Description : Most of the independent auditor's work in formulating an opinion on financial statements consists of a. Studying and evaluating internal control b. Obtaining and examining evidential matter c. Examining cash transactions d. Comparing recorded accountability with assets
Last Answer : Obtaining and examining evidential matter
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 : 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 : 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 : Inquiries directed towards those charged with governance may most likely a. Relate to their activities concerning the design, and effectiveness of the entity's internal control and ... the auditor in evaluating the appropriateness of the selection and application of certain accounting policies
Last Answer : Help the auditor understand the environment in which the financial statements are prepared.
Description : The final stage in Strategic Management is Strategy implementation
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 : 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 : 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 : 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 : 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 : In the final analysis, teaching must be thought of mainly as a process of (a) Asking questions and evaluating the learning (b) Directing the activities of the pupils (c) Hearing the recitation of pupils (d) all of the above
Last Answer : (a) Asking questions and evaluating the learning
Description : Application of the Strategic Management process is typically more formal in larger and well established Organizations
Last Answer : True
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 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 Strategic Management Process is ------------- : A. A set of activities that is guaranteed to prevent Organizational failure B. A process concerned with a Firm's Resources, ... D. A dynamic process involving the full set of commitments, decisions and actions related to the Company
Last Answer : A dynamic process involving the full set of commitments, decisions and actions related to the Company
Description : When defining Strategic Management, the most important issue to remember is that it is: A. Not as easy as one thinks B. A way of determining responsibilities C. A living evolving process D. More conceptual than practical
Last Answer : A living evolving process
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 : The________is a blueprint that links the firms e- business strategy with technologty driven marketing strategies. a) E-marketing plan b) Business model c) Situation analysis d) Strategic plan
Last Answer : a) E-marketing plan
Description : __________ is not one of the eight steps in the decision making process. (a) Identifying the problem ; (b) Analyzing alternative solutions (c) Implementing the decision ; (d) Delegating the decision making
Last Answer : (d) Delegating the decision making
Description : Which of the following is no step in the forecasting process? (a) determine the use of the forecast ; (b) eliminate any assumptions ; (c) determine the time horizon ; (d) validate and implement the results
Last Answer : (b) eliminate any assumptions ;
Description : Strategic Factors are those External and Internal Elements that would determine the future of the Corporation
Description : What is the most frequent internal motive for a strategic alliance? a) Resource need b) Risk limitation c) Cost minimization d) Current poor performance
Last Answer : Resource need
Description : Which of the following is NOT a characteristic of Strategic Mgt that makes it different : A. It is interdisciplinary B. It has an external focus C. It has an internal focus D. It is concerned with the present direction of the Organisation
Last Answer : It is concerned with the present direction of the Organisation
Description : The systematic collection of information about rivals in order to assist the development of firm strategies is called: a) Competitor intelligence b) Internal benchmarking c) Benchmarking d) Functional benchmarking
Last Answer : Competitor intelligence
Description : SWOT is an abbreviation for: a) Internal Strengths (S), Internal Weaknesses (W), External Opportunities (O), External Threats (T). b) Integrated Strategies (S), Integrated Weaknesses (W), ... External Strengths (S), Internal Weaknesses (W), External Opportunities (O), Internal Threats (T).
Last Answer : Internal Strengths (S), Internal Weaknesses (W), External Opportunities (O), External Threats (T).
Description : Which of the following best describes the operational audit? a. It requires the constant review by internal auditors of the administrative controls as they relate to operations ofthe company. b. It ... attempts and is designed to verify the fair presentation of a company's results of operations.
Last Answer : It concentrates on seeking out aspects of operations in which waste would be reduced by the introduction of controls
Description : According to the text, why should more attention be given to training in listening to oral communication? (a) Responsibility for effective communication is usually assigned to the sender (b) Evaluating the speaker seems ... (c) Presentation Is thought of as a one way process ; (d) All of the above
Last Answer : (d) All of the above
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 : 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 : Strategic Management recognizes the trade-offs between effectiveness & efficiency
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 : 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