Strategic Management One Word

Strategic Management MCQ: Multiple Choice Questions and
Answers on Strategic Management
1. The fundamental purpose for the existence of any organization is

described by its
a. policies
b. mission
c. procedures
d. strategy
2. The fundamental purpose of an organization's mission statement is
to
a. creates a good human relations climate in the organization
b. defines the organization's purpose in society
c. defines the operational structure of the organization
d. generates good public relations for the organization
3. The acronym SWOT stands for
a. Special Weapons for Operations Timeliness
b. Services, Worldwide Optimization, and Transport
c. Strengths Worldwide Overcome Threats
d. Strengths, Weaknesses, Opportunities, and Threats
4. Which of the following is not a characteristic of strategic
management from other types of management?
a. It is interdisciplinary.
b. It has an external focus.
c. It has an internal focus.
d. It concerns the present direction of the organization.
5. Which of the following is an issue considered in developing
corporate strategies?
a. What businesses) are we in?
b. What direction are we going?
c. What resources do we have to implement our strategies?
d. What businesses are we in and what to do with those businesses?
6. Which of the following is NOT a major element of the strategic
management
a. Formulating strategy
b. Implementing strategy
c. Evaluating strategy
c. Assigning administrative tasks
7. Competitive advantage can best be described as:
a. increased efficiency.
b. what sets an organization apart.
c. a strength of the organization.
d. intangible resources.
8. is the foundation of blue ocean strategy
a. Innovation
is the foundation of blue ocean strategy.
b. Value creation
c. Value innovation
d. value cost trade-off
9. The various organizational routines and processes that determine
how efficiently and effectively the organization transforms its inputs
into outputs are called:
a. strengths.
b. core competencies.
c. capabilities.
d. customer value.
10. When defining strategic management, the most important thing to
remember is that it is:
a. Not as easy as you think
b. Mainly the province of senior managers
c. A living evolving process
d. More conceptual than practical
11. An organisation's strategy:
a. remains set in place longer than the mission and objectives
b. generally forms over a period of time as events unfold
c. tends to be formed at the same time the mission is developed and
objectives are formulated
d. is usually conceived at a single time when managers sit down and
work out a comprehensive strategic plan for the next 3-5 years
12. The primary focus of strategic management is:

a. strategic analysis
b. the total organisation
c. strategy formulation
d. strategy implementation.
13. Which of the following is not an advantage of strategic
management?
a. It provides organisations with a clearer sense of direction and
purpose
b. It helps improve the political, economic, social and technological
environment of the organisation
c. It helps orientate management decisions to relevant environmental
conditions
d. It helps organisations be proactive rather than reactive
14. Which of the following defines what business or businesses the firm
is in or should be in?
a. Business strategy
b. Corporate strategy
c. Functional strategy
d. National strategy
15.Which of the following defines how each individual business unit
will attempt to achieve its mission?
a. Business strategy
c. Functional strategy
16. Which of the following focuses on supporting the corporate and
business strategies?
a. Competitive strategy
c. Operational strategy
17. Which one of the following is not a primary task of strategic
managers?
a. Establishing strategic objectives
b. Developing the steps to follow in implementing operation level
plan
c. Defining the business and developing a mission
d. Developing a strategy
18. The task of strategy choice involves:
a. developing plans and activities which will improve the
organisation's performance and competitive position
b. determining how the organisation can be more market and efficiency
oriented
c. monitoring whether the organisation is achieving good financial
performance
d. keeping the organisation free of debt
19. Which one of the following is at the core of strategic management?
a. Choosing which organisational objectives to focus on
b. Being alert for opportunities to change work responsibilities
c. Adapting the organisation to a changing external environment
d. Choosing whether to make decisions autocratically or on the basis of
participation
20. The corporate level is where top management directs:
a. all employees for orientation
b. its efforts to stabilize recruitment needs
c. overall strategy for the entire organization
d. overall sales projections
21. The three organizational levels are:
a. corporate level, business level, functional level
b. corporate level, business unit level, functional level
c. corporate strategy level, business unit level, functional level
d. corporate strategy level, business level, specialist level
22. Which of the following is an example of competing on quick
response?
a. a firm produces its product with less raw material waste than its
competitors
b. a firm offers more reliable products than its competitors
c. a firm's products are introduced into the market faster than its
competitors'
d. a firm's research and development department generate many ideas
for new products
23. Which one of the following is NOT included in the Porter's Five
Forces model:
a. Potential development of substitute products
b. Bargaining power of suppliers
c. Rivalry among stockholders
d. Rivalry among competing firms
24. What is meant by the term 'Stakeholder'?

a. A person who is not related with a business.
b. A person who is related with a business.
c. A person who owns a business.
d. A person who purchases the shares of a business.
25. Of the following, which one would NOT be considered one of the
components of a mission statement?
a. The target market for XYZ is oil and gas producers as well as
producers of chemicals.
b. XYZ shall hire only those individuals who have with sufficient
educational levels so as to be of benefit to our customers
c. The customers of XYZ shall include global and local consumers of
gas and oil products and

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Strategic Management MCQ: Multiple Choice Questions and

Answers on Strategic Management

1. The fundamental purpose for the existence of any organization is

12. The primary focus of strategic management is:

24. What is meant by the term 'Stakeholder'?

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