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This set of Advanced Strategic Management Multiple Choice Questions & Answers (MCQs) focuses on Advanced Strategic Management Set 3
Q1 | Which individuals are most responsible for the success and failure of an organization?
- Strategists
- Financial planners
- Personnel directors
- Stakeholders
Q2 | Which of the following is an element of a firm’s remote external environment?
- Competition
- Political agencies
- Suppliers
- Trade union
Q3 | Long-term objectives should be all of the following except:
- measurable.
- continually changing.
- reasonable.
- challenging.
Q4 | What are guides to decision making?
- laws
- rules
- policies
- procedures
Q5 | According to Greenley, strategic management offers all of these benefits except that
- it provides an objective view of management problems.
- it creates a framework for internal communication among personnel.
- it encourages a favourable attitude toward change.
- it maximizes the effects of adverse conditions and changes.
Q6 | The vision and mission statement can often be found
- in the SEC report.
- in annual reports.
- on customer receipts.
- on supplier invoices.
Q7 | The process of performing an external audit needs to include:
- only top-level managers, as it’s a planning function.
- as many managers and employees as possible.
- primarily front-line supervisors
- between 15 to 20 managers for it to be valid
Q8 | Which of the following is not a stage of strategy formulation techniques?
- Formulation Framework
- Matching stage
- External factor evaluation
- Decision stage
Q9 | ST Strategies is an important strategy to
- Match weakness with opportunities of the firm
- Overcome external threats
- Obtain benefit from its resources
- Overcome its weakness and reducing threats
Q10 | The immediate external environment includes:
- Divisions
- S. B. U. s
- Competitors
- Management
Q11 | The comprises economic and social conditions, political priorities and technological developments, all of which must be anticipated, monitored, assessed and incorporated into the executive’s decision making.
- Internal environment
- Task environment
- Operating environment
- Societal environment
Q12 | Strategic management involves the , directing, and controlling of acompany’s strategy-related decisions and actions.
- Financing; marketing
- Planning; financing
- Planning; organizing
- Marketing; planning
Q13 | A strategy is a company’s
- Value statement
- Pricing policy
- Game Plan to outsmart competitor
- Long-term objective
Q14 | Strategy-formulation concepts and tools
- Do not differ greatly for different size and type of organizations
- Differ greatly for different size and type of organizations
- Do not differ greatly for profit or non-profit organizations but differ in small and large organizations
- None of the mentioned options
Q15 | Annual objectives
- Are not critical to success
- Serve as guidelines for action, directing and channelling efforts and activities of organization members
- Are not important for employee motivation and identification
- Do not provide a basis for organizational design
Q16 | Which of the following resources is used by all organizations to achieve desiredobjectives?
- Financial resources,
- Physical resources
- Human resources
- All of the mentioned options
Q17 | Strategic management is
- A pure science.
- Based mainly on intuition.
- Needed mainly when organizational performance falls.
- Based on the use of quantitative and qualitative information.
Q18 | Large-scale, future-oriented plans, for interacting with the competitive environment to achieve company objectives refers to its
- Strategy
- Goals
- Competitive analysis
- Dynamic policies
Q19 | Strategic issues require which level of management decisions?
- Operative
- Top
- Front-line
- Middle
Q20 | Which of these basic questions should a vision statement answer?
- What is our business?
- Who are our employees?
- Why do we exist?
- What do we want to become?
Q21 | Strategic management process activates in the sequence of
- Environmental scanning, Strategy formulation, Implementation, c ontrol and evaluation
- Strategy formulation, Environmental scanning, Implementation, control and evaluation
- Environmental scanning, Strategy Implementation, formulation, c ontrol and evaluation
- Strategy formulation, Implementation, control, evaluation, Environmental scanning
Q22 | “A possible and desirable future state of an organization” is called:
- Mission
- Vision
- Strategy implementation
- None of above
Q23 | Strategic decisions are based on what managers , rather than on what they
- Know; forecast
- React to; anticipate
- Forecast; know
- Compromise with; analyse
Q24 | “To improve economic strength of society and function as a good corporate citizen on alocal, state, and national basis in all countries in which we do business”. This is a mission statement that contains:
- Self-concept
- Economic concern
- Products or Services
- Concern for Public Image
Q25 | Strategic-management audit is known as:
- Environmental scanning
- Strategy formulation
- Strategy control
- Strategy evaluation