Strategic Management – Set 7 January 29, 2025 by aasi Home › Management › Strategic Management Strategic Management Strategic Management – Set 7 📝 Model Practice Set ⚡ Instant Answers & Explanation 🎯 Exam Oriented 0% Report a question What’s wrong with this question? You cannot submit an empty report. Please add some details. 123456789101112131415161718192021222324252627282930313233343536373839404142434445464748 Strategic Management – Set 7 Dear ! This is Strategic Management – Set 7 Quiz and it contains 48 questions. Keep Learning! 1 / 48 1) What are the guides to decision making? Rules Procedures Goals Policies 2 / 48 2) What are the means by which long term objectives will be achieved? Strategies Policies Strength Opportunities 3 / 48 3) When an industry relies heavily on government contracts, which forecasts can be the most important part of an external audit Economic Competitive Political Multinational 4 / 48 4) Industry/sector benchmarking compares: Organisational performance between firms/public sector organisations in different industries or sectors Organisational performance between firms/public sector organisations in the same industry or sector Organisational performance between firms/public sector organisations in different countries Organisational performance between different divisions of the firm 5 / 48 5) Bargaining power of customers is high if: Differentiation of competitors product is low Switching costs are low for substitute products The buyer has little information about the market The buyer requires a high quality product for own production 6 / 48 6) A company offers unique products that are widely valued by customers, it is likely to follow a: Differentiation strategy Combination strategy Focus strategy Cost-leadership strategy 7 / 48 7) Selling all of a companys assets in parts for their tangible worth is called: Divestiture Concentric Diversification Liquidation Unrelated integration 8 / 48 8) Which of the following statements is not true reg corporate strategies? They are concerned with the broad and more long-term issues of the organization They are concerned with how the organization is going to compete in a specific business or industry are concerned with the direction the organization is headed They are concerned with the business(es) that the organization is in and the businesses they want to be in 9 / 48 9) Abdullah group of industries is involved in the sale of its marginal business. It is most likely to say that Abdullah group is implementing which one of the following strategies? Retrenchment Liquidation Acquisition Join venture 10 / 48 10) Stability strategy is a ____________ strategy corporate level business level functional level strategic level 11 / 48 11) Strategic Management handles: external issues management issues internal issues administrational issues 12 / 48 12) Which of the following can be identified as a best statement that represents a firms big picture statements, describing a desired end state, general in scope and not restrictive? Corporate philosophy statement Company creed Vision statement Mission statement 13 / 48 13) Buyers market exist when: few suppliers in the market buyers purchases in small volume buyers purchases in large volume product of suppliers are unique and differentiated 14 / 48 14) According to the BCG matrixSBU comprising products in an attractive industry but representing little market share would be referred to as: A cash cow A star A dog A question mark 15 / 48 15) an organisation increases its sales through greater marketing efforts, and expands its workforce and production capacity to cope with the increase in demand for its product, it is following a growth strategy in which growth is achieved through: Unrelated diversification Acquisition Merger Direct expansion 16 / 48 16) the following are considered grand strategies, except for: A retrenchment strategy Strategic business units A growth strategy Related diversification 17 / 48 17) Strategic business units Are found in one-business organisations Carry out strategies assigned by the CEO Develop their own unique way of competing Implement the marketing function's strategic planning and management decisions 18 / 48 18) The Reasons for diversification is: to reduce competition to increase organizational capabilities to get tax advantage to get quick entry into a business 19 / 48 19) The magnitude and changes that may affect an organization is survival owing to all of the following except: Merger-mania Demographics E-commerce Dubious firms 20 / 48 20) Strategy is developed by the visionary chief executive in ___________ mode of strategic management planning mode adaptive mode strategic mode entrepreneurial mode 21 / 48 21) What do Cash Cows symbolize in BCG matrix? Remain Diversified Invest Stable Liquidate 22 / 48 22) Which of the following requires a firm to establish annual objectives, devise, policies, motivates employees and allocate resources for the execution of strategies? Strategy formulation Strategy evaluation Strategy implementation Strategy estimation 23 / 48 23) The word tactics is most likely to be associated with Business strategy Corporate strategy Operational strategy All of these 24 / 48 24) What is the purpose of an activity map? A system to facilitate better time-planning It is used in business process reengineering to show how the different activities of an organisation are linked together It is used to identify and understand strategic capability by mapping how the different activities of an organisation are linked together A list of activities undertaken by an organisation 25 / 48 25) From the following activity which does not comes under the primary activities of value Chain analysis: Operations Technology development Marketing and sales Services 26 / 48 26) Analysing the ext environment and the organisations resources are part of the: Functional level planning process Determining the mission of the business Financial planning process Strategic planning process 27 / 48 27) A possible and desirable future state of an organization is called: Mission Vision Strategy implementation Strategy formulation 28 / 48 28) Buying another company by one company means: Joint venture Acquisition Amalgamation Merger 29 / 48 29) Technological advancements can create which of the following advantage besides many other existing powerful advantages for the businesses? Economic Social Environmental Competitive 30 / 48 30) In strategic thinking, how long is the long term, approximately? 1 month to 1 year 2 to 3 years 3 to 5 years More than 5 years 31 / 48 31) Low cost, Differentiation and Focus are examples of Corporate strategies Operational strategies Business strategies Functional strategies 32 / 48 32) Which strategies aim at improving internal weakness by taking advantage of external opportunities? SO WO SW ST 33 / 48 33) The primary benefit brought from restructuring is: employee involvement cost reduction increased morale increased number and organizational hierarchy 34 / 48 34) What is the starting point of strategic intent? Objectives Goals Mission Vision 35 / 48 35) Internal audit is done: Before external audit After external audit Parallel to external audit Vertical to external audit 36 / 48 36) Marketing strategy is a ___________ type of strategy business level Growth strategy corporate strategy functional strategy 37 / 48 37) Which of the following is not one of Porters five competitive forces? Bargaining power of suppliers Threats of new entrants and barriers to entry Threats of technological advances Threats of substitutes 38 / 48 38) Corporate level strategy deals with: objectives of specific functions objective of Single strategic Business Unit objectives of the corporate objectives of specific operations 39 / 48 39) Which would be classified as a stakeholder? Communities Banks Suppliers Communities Banks Suppliers 40 / 48 40) Which environment can create new market and new business segments? Political environment Economic environment Socio cultural environment Technological environment 41 / 48 41) Which type of trend can be exemplified by the increasing numbers of two income households in a society? Solid Economic Cultural Technological 42 / 48 42) The BCG matrix is based on Industry attractiveness and Business strength Industry Growth rate and Business strength Industry Attractiveness and Relative Market share Industry growth rate and relative market share 43 / 48 43) the sketch of the BCG matrix, what is the label of the horizontal axis? Industry growth rate Market share Market growth rate Business strength 44 / 48 44) the sketch of the BCG matrix, what is the label of the vertical axis? Market growth rate Business strength Market share Industry growth rate 45 / 48 45) All of the following are key opportunities and threats in external environment because of political, government and legal forces except: Tax rate Social security program Cross boarder relationship Patent law 46 / 48 46) One of the top level manager of a large manufacturing plant uses to spend her day trying to ensure that the material waste is not more than 10% , she spends her day performing the management process of: Planning Organizing Leading Controlling 47 / 48 47) What does Question mark symbolize in BCG matrix? Remain Diversified Invest Stable Liquidate 48 / 48 48) How many cells are in a SWOT matrix? 7 4 9 3 Your score isThe average score is 0%🎉 Challenge alert! 💡 Share this quiz with your friends and see who scores the highest! 🏆🤩🔥 LinkedIn Facebook Follow Us @ 0% Restart quiz Exit We’d love to hear your thoughts! 📝 Share your valuable review with us. 🙌 🌟 Thank you for your support! Your feedback means the world to us. 🙏💖 Send feedback
