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This set of Advanced Strategic Management Multiple Choice Questions & Answers (MCQs) focuses on Advanced Strategic Management Set 1
Q1 | The word “strategy” is derived from the Greek word “------
- Strategos
- Stratum
- Strategy
- All of these
Q2 | ---------- can also be defined as “a general direction set for the company and itsvarious components to achieve a desired state in the future.
- Goal
- Objectives
- Mission
- Strategy
Q3 | ----------- 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.
- Policies framing
- Mission statement
- Target setting
- Strategic Management
Q4 | Which of the following is not a characteristic of strategic Management?
- Strategic issues require top-management decisions
- Strategic issues involve the allocation of large amounts of company resources
- Strategic issues are future oriented
- None of these
Q5 | ------------ 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.
- SBU
- Corporate level
- Functional
- Operational
Q6 | The fundamental purpose for the existence of any organization is described by its
- policies
- mission
- procedures
- strategy
Q7 | The fundamental purpose of an organization’s mission statement is to
- Create a good human relations climate in the organization
- Define the organization’s purpose in society
- Define the operational structure of the organization
- Generate good public relations for the organization
Q8 | The acronym SWOT stands for
- Strategic Weakness Overcoming Tools
- Services, Works, Operation and Tools
- Strengths, weakness, Overcome and Threats
- Strengths, Weaknesses, Opportunities, and Threats
Q9 | Which of the following is not a characteristic of strategic management that makes itdifferent from other types of management?
- It is interdisciplinary.
- It has an external focus.
- It has an internal focus.
- It concerns the present direction of the organization.
Q10 | Which of the following is an issue considered in developing corporate strategies?
- What business(es) are we in?
- What direction are we going?
- What resources do we have to implement our strategies?
- What businesses are we in and what to do with those businesses?
Q11 | Which of the following is NOT a major element of the strategic management process?
- Formulating strategy
- Implementing strategy
- Assigning administrative tasks
- Evaluating strategy
Q12 | Competitive advantage can best be described as:
- increased efficiency.
- what sets an organization apart
- a strength of the organization.
- intangible resources.
Q13 | is the foundation of blue ocean strategy.
- Innovation
- Value creation
- Value innovation
- value cost trade-off
Q14 | The various organizational routines and processes that determine how efficiently andeffectively the organization transforms its inputs into outputs are called:
- strengths.
- core competencies.
- capabilities.
- customer value.
Q15 | When defining strategic management, the most important thing to remember is that itis:
- Not as easy as you think
- Mainly the province of senior managers
- A living evolving process
- More conceptual than practical
Q16 | An organisation’s strategy:
- remains set in place longer than the mission and objectives
- generally, forms over a period of time as events unfold
- tends to be formed at the same time the mission is developed and objectives are formulated
- is usually conceived at a single time when managers sit down and work out a comprehensive strategic plan for the next 3-5 years
Q17 | The primary focus of strategic management is:
- strategic analysis
- the total organisation
- strategy formulation
- strategy implementation.
Q18 | Which of the following is not an advantage of strategic management?
- It provides organisations with a clearer sense of direction and purpose
- It helps improve the political, economic, social and technological environment of the organisation
- It helps orientate management decisions to relevant environmental conditions
- It helps organisations be proactive rather than reactive
Q19 | Which of the following defines what business or businesses the firm is in or should be in
- Business strategy
- Corporate strategy
- Functional strategy
- National strategy
Q20 | Which of the following defines how each individual business unit will attempt toachieve its mission?
- Business strategy
- Corporate strategy
- Functional strategy
- National strategy
Q21 | ---------- strategy defines the uses of corporate strategy and specific tactics for eachmarket.
- Business strategy
- Corporate strategy
- Functional strategy
- Operational strategy
Q22 | ----------- strategy defines the day to day actions need to deliver the corporate andbusiness strategies.
- Core strategy
- Operational Strategy
- Corporate strategy
- Functional strategy
Q23 | Which of the following focuses on supporting the corporate and business strategies?
- Competitive strategy
- Corporate strategy
- Operational strategy
- Mission strategy
Q24 | Which one of the following is not a primary task of strategic managers?
- Establishing strategic objectives
- Developing the steps to follow in implementing operational level plans
- Defining the business and developing a mission
- Developing a strategy
Q25 | The task of strategy choice involves:
- developing plans and activities which will improve the organisation’s performance and competitive position
- determining how the organisation can be more market and efficiency oriented
- monitoring whether the organisation is achieving good financial performance
- keeping the organisation free of debt