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    Strategic Management Prelim

    Uploaded by

    Michelle Esperal
    The document appears to be a set of questions and answers related to a strategic management exam completed by Michelle M. Esperal. It includes 44 multiple choice and true/false questions testing knowledge of key strategic management concepts and terms related to topics like strategic intent, strategy formulation, implementation, evaluation, competitive advantage, and the components of strategic planning.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Strategic Management Prelim

    Uploaded by

    Michelle Esperal
    180 views8 pages
    The document appears to be a set of questions and answers related to a strategic management exam completed by Michelle M. Esperal. It includes 44 multiple choice and true/false questions testing knowledge of key strategic management concepts and terms related to topics like strategic intent, strategy formulation, implementation, evaluation, competitive advantage, and the components of strategic planning.

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    © © All Rights Reserved

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    The document appears to be a set of questions and answers related to a strategic management exam completed by Michelle M. Esperal. It includes 44 multiple choice and true/false questions testing knowledge of key strategic management concepts and terms related to topics like strategic intent, strategy formulation, implementation, evaluation, competitive advantage, and the components of strategic planning.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    180 views8 pages

    Strategic Management Prelim

    Uploaded by

    Michelle Esperal
    The document appears to be a set of questions and answers related to a strategic management exam completed by Michelle M. Esperal. It includes 44 multiple choice and true/false questions testing knowledge of key strategic management concepts and terms related to topics like strategic intent, strategy formulation, implementation, evaluation, competitive advantage, and the components of strategic planning.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 8

    Strategic Management by Michelle M.

    Esperal
    PRELIM EXAM

    Completed on Tuesday, 17 October 2023, 6:46 AM


    Marks 50.00/50.00
    Grade 100.00 out of 100.00
    Question 1
    Organizations need to set adequate and appropriate objective to cover all performance
    areas.

    Select one:
    True
    False

    Question 2
    Both an Art and science of formulating, implementing, and evaluating, cross-functional
    decisions that facilitate an organization to accomplish its objectives.

    Answer: Strategic management

    Question 3
    Strategy provides some framework for guiding organizational thinking
    and action.

    Select one:
    True
    False

    Question 4
    Strategy Implementation ensures the long-term survival of the firm while coping with
    competition and surviving the dynamic environment.

    Select one:
    True
    False

    Question 5
    Creating competitive advantage through effective management of the strategy-making
    process.
    Select one:
    Strategy Effectiveness
    Strategic Planning
    Strategic Leadership

    Question 6
    The quality of the objectives can be judged on the basis of its ability to give specific
    direction and tangible basis for evaluating the performance.

    Select one:
    True
    False

    Question 7
    Selecting strategies based on analysis of an organization's external and internal
    environment.

    Answer: Strategy formulation

    Question 8
    A statement, that provides a perspective of the means, which will lead the organization,
    reach the vision in the long run.

    Select one:
    Management Intent
    Strategic Intent
    Verifiability
    Question 9
    He defines strategy as a creation of a unique and valued position involving a different
    activity from rivals or performs similar activities in different ways.

    Select one:
    a.
    Chandler
    b.
    Micheal Porter
    c.
    Glueck

    Question 10
    It states that Strategic Intent is differentiated because here in this case the employees are
    allied and they are convinced about the concept of Strategic Intent.

    Select one:
    Sense of destiny
    Sense of direction
    Sense of discovery

    Question 11
    When an organization assumes success, it often fails to reward
    success. When failure occurs, then the firm may punish.

    Answer: Poor reward structure

    Question 12
    Strategy is derived from the Greek word strategos, meaning military leader or general.

    Select one:
    True
    False

    Question 13
    It refers to the actions that managers have to take or do in order to
    ensure that what has been set in the objective can be achieved.

    Answer: strategy

    Question 14
    Set of related actions that managers take to increase their company's performance.

    Answer: Strategy

    Question 15
    A vision statement answers the question
    Answer. What do we want to become?

    Question 16
    Putting Strategy into action.

    Select one:
    Strategy formulation
    Strategy Implementation

    Strategy Evaluation

    Question 17
    Anything that a firm does especially well compared to rival firms is referred to as?

    Answer: Competitive Advantage

    Question 18
    Some firms do not do strategic planning because some may think that if a firm is successful,
    individuals may feel there is no need to plan because things are fine as they stand.

    Select one:
    True
    False

    Question 19
    It seeks to explain the business undertaken by the firm, with respect to the customer needs,
    target audience, and alternative technologies.

    Answer: Business Definition

    Question 20
    The systematic analysis of the factor associated with customers and competitors and the
    organization itself to provide the basis for maintaining optimum management practices
    Select one:
    A.
    Strategic Management
    B.
    Systematic Management
    C.
    Scientific Management
    Question 21
    It is the dream of the business and an inspiration, base for the planning process.

    Answer: Vision

    Question 22
    Only verifiable objectives can be meaningfully used in strategic management.

    Select one:
    True
    False

    Question 23
    Igor Chandler is the Father of Strategic Management.

    Select one:
    True
    False

    Question 24
    Comes from the Greek word "strategos", which refers to a military general.

    Answer: Strategy

    Question 25
    Goals are the end results that the organization attempts to achieve.

    Select one:
    True
    False

    Question 26
    Which is an element of strategy Implementation?

    Select one:
    Competitive analysis and Organizational Structure
    Organizational systems and processes
    External and Internal analysis

    Question 27
    It is described as the "Long-term Market or Competitive Position"

    Select one:
    Sense of direction
    Sense of destiny
    Sense of discovery

    Question 28
    Some organization do not engage in strategic planning because managers and employees
    show no support.

    Select one:
    True
    False

    Question 29
    The action stage of strategic management is called strategy formulation.

    Select one:
    True
    False

    Question 30
    Statement of how employees should conduct themselves and their business to help achieve
    the company mission.

    Select one:
    Good Moral
    Mission
    Values

    Question 31
    It is designed to help potential shareholders and investors understand the purpose of the
    company.

    Answer: Mission Statement

    Question 32
    It is time-based measurable actions, which help in the accomplishment of goals.

    Select one:
    Plan
    Objectives
    Business Model

    Question 33
    Which of the following is not a major attribute of strategic intent?

    Select one:
    Sense of Awareness
    Sense of Destiny
    Sense of Direction

    Question 34
    Short-term milestones that organizations must achieve to reach long-term objectives.

    Answer: Annual objectives

    Question 35
    This takes Strategic Intent to an all-together new level by including the employee's
    emotions with the organization aspirations.

    Select one:
    Sense of Discovery

    Sense of Direction

    Sense of Destiny

    Question 36
    The translation of the strategy into action takes place here, and it details the firm's
    competitive tactics and initiatives.

    Answer: Business model

    Question 37
    The action stage of strategic management is called strategy formulation.
    Select one:
    True
    False

    Question 38
    What are the three major components in Strategic Management?

    Answer: Strategy Formulation, strategy implementation, strategy evaluation

    Question 39
    Implementing strategy means mobilizing employees and managers to put
    formulated strategies into action.

    Select one:
    True
    False
    Question 40
    SWOT stands for ?

    Answer: Strength, weaknesses, opportunities, threats

    Question 41
    The quality of the objectives can be judge on the basis of its ability to give scientific
    direction.

    Select one:
    True
    False

    Question 42
    Which is not an element of Strategy Formulation?

    Select one:
    People and leadership
    Mission and Vision
    Objectives and internal analysis

    Question 43
    It is an objective that seeks to attain in reality.

    Answer: Operative objective

    Question 44
    Which is not a Pitfall in Strategic Planning?

    Select one:
    It allows fewer resources and less time to be devoted to correcting erroneous or ad
    hoc decisions.
    Using strategic planning to gain control over decisions and resources

    Too hastily moving from mission development to strategy formulation

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