Job titles that refer to strategists include which of the following?
A. External audit
B. Owner, entrepreneur, executive director, and accountant
C. Chief executive officer, salesman, dean, and lawyer
D. Owner, dean, president, and executive director
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Relative deficiency or superiority is important information in performing which activity?
A. External audit
B. Allocating resources
C. Internal audit
D. Evaluating strategies
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How often should strategic-management activities be performed?
A. Annually
B. Quarterly
C. Monthly
D. Continuously
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Who is most responsible for developing, communicating, and enforcing the code of business ethics for a firm?
A. Strategists
B. Line managers
C. Staff managers
D. All managers
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Strategy-implementation activities include
A. conducting research
B. measuring performance
C. preparing a TOWS matrix
D. establishing annual objectives
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In a large organization, strategic management activities occur at what level(s)?
A. Corporate and divisional
B. Functional, business and corporate
C. Strategic business unit
D. Divisional
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Conducting research, integrating intuition with analysis, and making decisions are all __________ activities.
A. strategy-formulation
B. strategy-implementation
C. long-range planning
D. short-range planning
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Which of these questions is addressed by a mission statement?
A. What do we want to become?
B. What is our business?
C. How many employees must we have?
D. Who do we want to serve?
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Which of the following are the rules and regulations laid down by the organisation to help in the day-to-day working of the organisation?
A. Objectives
B. Plan
C. Policy
D. Strategy
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The following two statements are related industry attractiveness. Choose the given statements being correct or incorrect.
Statement I More profitabIe industry is, the less attractive it becomes.
Statement II It indicates the material competitive advantage that the SBU possesses over the other units.
A. Statement I is correct, but Statement II is incorrect
B. Statement II is correct, but Statement I is incorrect
C. Both statements are correct
D. Both statements are incorrect
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Which of the following are soft areas in the McKinsey 7S Framework?
A. Strategy
B. Style
C. Structure
D. System
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The first step in the development of a business mission is
A. a SWOT analysis
B. goal formulation
C. marketing research
D. strategy formulation
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In the Ansoff Matrix, under which of the following firms can create new distribution channels, cross geographical boundaries and create new market segments?
A. Market Penetration
B. Market Development
C. Product Development
D. Business Diversification
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What does VRIO framework stand for?
A. Value, Rarity, Imitability, Organisation
B. Virtual, Rarity, Imitability, Organisation
C. Value, Reliable, Imitability, Organisation
D. Valuable, Real, Immobile, Organisation
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Which of the following are the goals that are to be achieved over a small period of time and can be attained only if attempts are made in a particular direction?
A. Objectives
B. Missions
C. Policies
D. Procedures
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What does 'P' stand for in PESTEL?
A. Public
B. Privatisation
C. Private
D. Political
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Consider the following statements with reference to Porter's five forces model of competitive analysis
1. As rivalry among competing firm intensifies, generally industry profits decline or in few cases, industry becomes inherently unattractive.
2. Whenever new firms are allowed to enter a particular industry, the intensity of competitiveness among firms becomes haphazard.
3. Generally competitive pressures arising from the substitute products decrease as the relative price of substitute products decline.
4. Bargaining power of suppliers affects the intensity of competition.
A. Statements 1 and 2 are false, others are true
B. Statements 1 and 4 are true, others are false
C. Statements 2, 3 and 4 are true, but 1is false
D. All the statements are true
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The highly competitive industries, particularly in the early stage of product life cycle, follow which one of the following strategies?
A. Functional area support strategy
B. Expansion strategy
C. Diversification strategy
D. Downsizing strategy
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Which of the following are the processes and daily activities undertaken by people who work in the organisation?
A. Style
B. Staff
C. Structure
D. System
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Match the following.
List-I
List-II
a. Human Resource Management
1. Primary Activities
b. Operational Decision
2. Short-term Decisions
c. Marketing and Sale
3. Support Activities
d. Administrative Decisions
4. Medium-term
A. a-3, b-4, c-1, d-2
B. a-3, b-1, c-4, d-2
C. a-3, b-4, c-2, d-1
D. a-3, b-2, c-4, d-1
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