Which of the following is not a recognized element of corporate strategy?
A. Competitive advantage
B. Closure
C. Acquisition
D. Divestment
Select an option to see the answer and solution.
__________ refers to the purposes an organization strives to achieve
A. Strategic Intent
B. Strategic Formulation
C. Strategic Implementation
D. Strategic Control
Select an option to see the answer and solution.
__________ strategy may require a firm to redefine its business and may involve divestment of a major product line or an SBU, abandon some markets or reduce its functions
A. Expansion Strategy
B. Retrenchment Strategy
C. Combination Strategy
D. Stability Strategy
Select an option to see the answer and solution.
Which of the following statements is false? Formal strategic planning
A. implies determined actions for achieving objectives
B. is a time consuming process
C. should develop clear and rigid plans for the organization to implement
D. is most applicable in stable environments
Select an option to see the answer and solution.
__________ strategy is often considered as entrepreneurial strategy where firm develops and introduce new products and markets or penetrate markets to build share
A. Expansion Strategy
B. Retrenchment Strategy
C. Combination Strategy
D. Stability Strategy
Select an option to see the answer and solution.
Which of the following statements best describes the concept of strategic awareness?
A. Managers understanding of the organizations history, competencies, and current strategy
B. Managers understanding of current strategy and its effectiveness
C. Managers understanding of the strategic options available to the organization
D. Managers understanding the organizations strategy, its effectiveness
Select an option to see the answer and solution.
Which of the following is associated with successful strategies?
A. Creating superior value to customers
B. Exploitation of key success factors
C. Creating and maintaining strategic fit
D. All of the above
Select an option to see the answer and solution.
What is the recommended length of an effective mission statement?
A. One page
B. Less than 200 words
C. One sentence of 10 to 20 words
D. There is no recommendation It can be as long as the management wants
Select an option to see the answer and solution.
Which type of strategies are of particular importance to global companies?
A. Corporate
B. Functional
C. Competitive
D. Corporate and competitive
Select an option to see the answer and solution.
Two reasons for mergers and acquisitions are
A. to increase managerial staff and to minimize economies of scale
B. to reduce tax obligations and increase managerial staff
C. to create seasonal trends in sales and to make better use of a new sales force
D. to provide improved capacity utilization and to gain new technology
Select an option to see the answer and solution.
The pie slices within the circles of a ________ reveal the percent of corporate profits contributed by each division
A. QSPM
B. BCG matrix
C. SPACE matrix
D. Grand strategy matrix
Select an option to see the answer and solution.
Which one of the following is of concern for not-for-profit organizations?
A. The markets to service
B. Identifying suppliers to deal with
C. Developing capabilities
D. Building monopolies
Select an option to see the answer and solution.
Select the statement that best applies to emergent strategies. Emergent strategy...
A. implies an ability to react to events
B. implies strategizing
C. implies no deviation from plans
D. implies constant evaluation of the bigger picture
Select an option to see the answer and solution.
The impact of strategies on the general direction and basic character of a company is
A. short range
B. medium range
C. long range
D. minimal
Select an option to see the answer and solution.
Select the most accurate statement. Value
A. means value for money
B. is best described as the benefits the business chooses to give to customers through its product/service
C. is the benefits of a product/service as perceived by the customer
D. does not offer competitive advantage
Select an option to see the answer and solution.
The acronym SWOT stands for
A. Special Weapons for Operations Timeliness
B. Services, Worldwide Optimization and Transport
C. Strengths, Weakness, Opportunities and Threats
D. None of the above
Select an option to see the answer and solution.
Which of the following statements best describes strategic management?
A. A process consisting of determining objectives and strategic actions to achieve those objectives
B. A process consisting of determining objectives, strategic actions to achieve those objectives, the implementation of desired strategy, and the monitoring of that strategy
C. A process consisting of the determination of direction, strategic actions to achieve objectives, the implementation of desired strategy, and monitoring of that strategy
D. A process for determining direction, strategic actions to achieve objectives, and the implementation of desired strategy
Select an option to see the answer and solution.
Which of the following is a key external factors that should be taken into account by a corporate strategy?
A. economic conditions
B. political conditions
C. legal environments
D. competition
Select an option to see the answer and solution.
Which one of the following would not be considered a functional strategy?
A. Financial
B. Marketing
C. Product-market
D. Operations
Select an option to see the answer and solution.
The two internal elements of SWOT analysis are
A. weaknesses and threats
B. opportunities and threats
C. strength and weaknesses
D. strengths and threats
Select an option to see the answer and solution.