Q. The word “strategy” is derived from the Greek word “------"
a. Strategos
b. Stratum
c. Strategy
d. All of these
Q. ---------- can also be defined as “a general direction set for the company and itsvarious components to achieve a desired state in the future.
a. Goal
b. Objectives
c. Mission
d. Strategy
Q. ----------- is concerned with the determination of the basic long-term goals and theobjectives of an enterprise, and the adoption of courses of action and allocation of resources necessary for carrying out these goals.
a. Policies framing
b. Mission statement
c. Target setting
d. Strategic Management
Q. Which of the following is not a characteristic of strategic Management?
a. Strategic issues require top-management decisions
b. Strategic issues involve the allocation of large amounts of company resources
c. Strategic issues are future oriented
d. None of these
Q. ------------ strategy occupies the highest level of strategic decision making and covers actionsdealing with the objective of the firm, acquisition and allocation of resources and coordination of strategies of various SBUs for optimal performance.
a. SBU
b. Corporate level
c. Functional
d. Operational
Q. The fundamental purpose for the existence of any organization is described by its
a. policies
b. mission
c. procedures
d. strategy
Q. The fundamental purpose of an organization’s mission statement is to
a. Create a good human relations climate in the organization
b. Define the organization’s purpose in society
c. Define the operational structure of the organization
d. Generate good public relations for the organization
Q. The acronym SWOT stands for
a. Strategic Weakness Overcoming Tools
b. Services, Works, Operation and Tools
c. Strengths, weakness, Overcome and Threats
d. Strengths, Weaknesses, Opportunities, and Threats
Q. Which of the following is not a characteristic of strategic management that makes itdifferent 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.
Q. Which of the following is an issue considered in developing corporate strategies?
a. What business(es) 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?
Q. Which of the following is NOT a major element of the strategic management process?
a. Formulating strategy
b. Implementing strategy
c. Assigning administrative tasks
d. Evaluating strategy
Q. 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.
Q. is the foundation of blue ocean strategy.
a. Innovation
b. Value creation
c. Value innovation
d. value cost trade-off
Q. The various organizational routines and processes that determine how efficiently andeffectively the organization transforms its inputs into outputs are called:
a. strengths.
b. core competencies.
c. capabilities.
d. customer value.
Q. When defining strategic management, the most important thing to remember is that itis:
a. Not as easy as you think
b. Mainly the province of senior managers
c. A living evolving process
d. More conceptual than practical