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This set of Advanced Strategic Management Multiple Choice Questions & Answers (MCQs) focuses on Advanced Strategic Management Set 4
Q1 | Forecasting tools can be broadly categorized into two groups. Those are:
- Qualitative, Operational
- Quantitative, Operational
- Qualitative, Quantitative
- Regression and time series analysis
Q2 | identifies a firm’s major competitors and their particular strengths and weaknesses in relation to a sample firm’s strategic position.
- Competitive Profile Matrix
- External Factor Evaluation matrix
- Internal Factor Evaluation Matrix
- Boston consulting group matrix
Q3 | Organizing means an identifiable group of people contributing their efforts towards the attainment of same goal. It is important at the time of:
- Environmental scanning
- Strategy formulation
- Strategy Implementation
- Strategy evaluation
Q4 | Which statement best describes intuition?
- It represents the marginal factor in decision-making.
- It represents a minor factor in decision-making integrated with analysis.
- It should be coupled with analysis in decision-making.
- It is better than analysis in decision-making.
Q5 | What are the means by which long-term objectives will be achieved?
- Strategies.
- Strengths
- Weaknesses.
- Policies.
Q6 | When an industry relies heavily on government contracts, which forecasts can be the most important part of an external audit.
- economic
- political
- technological
- competitive
Q7 | is not part of an external audit.
- Analysing competitors
- Analysing financial ratios
- Analysing available technologies
- Studying the political environment
Q8 | Typically, how many strategic decision levels are in the corporate decision-makinghierarchy?
- 3
- 4
- could be more than 5
- 2
Q9 | External assessment is performed in which of the strategic management phase?
- Strategy formulation stage
- Strategy implementation stage
- Strategy evaluation stage
- All of the given options
Q10 | Political variables have a significant effect on
- Strategy formulation and implementation
- Strategy formulation and evaluation
- Strategy implementation and evaluation
- Strategy formulation, implementation and evaluation
Q11 | Strategic decisions ostensibly commit the firm for
- 1 -2 years
- The short term
- one years
- A long time, typically five years
Q12 | Social responsibility is a critical consideration for a company’s strategic decision makers since
- Stockholders demand it
- The mission statement must express how the company intends to contribute to the societies that sustain it
- It increases a company’s profits
- It helps make decisions
Q13 | Which of the following are signs of weakness in a company’s competitive position?
- A return-on-equity is below 25% and earnings per share of less than Rs. 2.00
- A price set by the firm higher than its rivals
- A declining market share, poor product quality and few sales in market
- Lower revenues and profit margin and narrow product line than the market leader
Q14 | It directs at developing new products before competitors do at improving product quality or at improving manufacturing processes to reduce costs.
- Marketing
- Opportunity analysis
- Research and development
- Management
Q15 | “Identifying and evaluating key social, political, economic, technological and competitive trends and events”. Which of the followings best describes this statement?
- Developing an effective mission statement
- Conducting an internal audit
- Performing an external audit
- Formulating strategy
Q16 | The central purpose of strategic evaluation is ---------------
- Evaluate effectiveness of strategy to achieve organisational objectives
- Evaluate effectiveness of control system to measure achievements.
- Evaluate effectiveness of strategies to be implemented efficiently.
- Evaluate effectiveness of the strategy implementation process.
Q17 | Strategy evaluation at the level involves using specific performancemeasures-qualitative and quantitative-for each functional area.
- organizational
- operational
- functional
- production
Q18 | ---------- is described as the process which examines all the components, internal orexternal, that has an influence on the performance of the organization.
- Environmental analysis
- Competitor analysis
- Macro analysis
- Any of the above
Q19 | Which of the following is not an external environment component of a business?
- Competitors
- Corporate structure
- Suppliers
- customers
Q20 | ---------- analysis begins with identifying present as well as potential competitors.
- Environment
- Internal
- Competitor
- External
Q21 | Characteristics of a business which makes it disadvantageous relative to competitors.
- Threat
- Failure
- Weakness
- None of these
Q22 | Elements in a company’s external environment that allow to formulate and implementstrategies to increase profitability.
- Strength
- Success
- opportunity
- productivity
Q23 | In PEST analysis, “P” stands for------------
- Profitability factors
- Productivity factors
- Political factors
- Pricing factors
Q24 | In PEST analysis, “S” stands for------------
- Stability factors
- Social factors
- Sales factors
- Strategic factors
Q25 | In PEST analysis, “T” stands for------------
- Tactical factors
- Threat factors
- Task factors
- Technological factors