Multiple Choice
Identify the
letter of the choice that best completes the statement or answers the question.
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1.
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Which
of the following is not a recognized element of corporate strategy? a. | Competitive
advantage | b. | Closure | c. | Acquisition | d. | Divestment | e. | All of the
above | | |
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2.
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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 | e. | None of the above | | |
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3.
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Which
of the following statements best describes the concept of ‘strategic
awareness’? a. | Managers’
understanding of the organization’s 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 organization’s strategy,
its effectiveness, and the potential avenues for change | e. | None of the
above | | |
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4.
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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. | Achieving specified strategic
objectives | e. | All of the above | | |
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5.
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Which
type of strategies are of particular importance to global companies? a. | Corporate | b. | Functional | c. | Competitive | d. | Corporate and competitive | e. | Corporate,
competitive, and functional | | |
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6.
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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. | Which customers to target | e. | Building
monopolies | | |
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7.
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Select the statement that best applies to emergent strategies. Emergent
strategy... a. | implies an
ability to react to events | b. | implies deliberate evaluation and selection between different
strategic options | c. | implies ‘strategizing’ | d. | implies no
deviation from plans | e. | implies constant evaluation of the ‘bigger
picture’ | | |
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8.
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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 | e. | is not a key
element of competitive strategy | | |
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9.
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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 | | |
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10.
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Which
one of the following would not be considered a functional strategy? a. | Financial | b. | Marketing | c. | Product-market | d. | Operations | e. | None of the
above | | |
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