Strategic Management

 Strategic Management
(Prelim Q1, Q2)

Question 1
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SWOT stands for ?
Answer: Strength, weaknesses, opportunities, threats


Question 2
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He defines strategy as a creation of a unique and valued position involving a different
activity from rivals or performs similar activities in different ways.

Select one:
a.
Chandler
b.
Micheal Porter
c.
Glueck
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Question 3
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Strategic Management serves as a foundation for all key decisions of the firm.
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True
False

Question 4
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Answer Igor Ansoff viewed that in developing strategy, it was essential to
systematically anticipate future environmental challenges to an organization, and draw up
appropriate strategic plans for responding to these challenges
.

Question 5
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The systematic analysis of the factor associated with customers and competitors and the
organization itself to provide the basis for maintaining optimum management practices.

Answer: Strategic Management

Question 6
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Without a perfect foresight, the firms must be ready to deal with the uncertain events which
constitute the business environment.

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True
False

Question 7
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Strategy deals with long term developments rather than short-term operations.
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False

Question 8
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Strategy provides overall framework for guiding organizational thinking and action.
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False

Question 9
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It is the framework used to evaluate a company's competitive position and to
develop strategic planning.

Answer: SWOT analysis

Question 10
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Johnson and Scholes three ways in strategies selection.
Answer: Selection against Objectives, Referral to a Higher Authority, Partial Implementation

Question 11
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The systematic analysis of the factor associated with customers and competitors and the
organization itself to provide the basis for maintaining optimum management practices.

Select one:
A.
Systematic Management
B.
Scientific Management
C.
Strategic Management
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Question 12
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Igor Chandler is the Father of Strategic Management.
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True
False

Question 13
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It is a method or plan chosen to bring about a desired future, such as achievement of a goal
or a solution to a problem.

Select one:
A.
Plan
B.
Techniques
C.
Strategy
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Question 14
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Strategy is derived from the Greek word strategos, meaning military leader or general.
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Question 15
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According to Igor Ansoff, strategy is organisation‘s pattern of response to its
environment over a period of time to achieve its goals and mission.”

Question 1
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It seeks to explain the business undertaken by the firm, with respect to the customer needs,
target audience, and alternative technologies.

Answer: Business Definition

Question 2
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Goals are the end results that the organization attempts to achieve.
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True
False

Question 3
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It is the dream of the business and an inspiration, base for the planning process.
Answer: Vision

Question 4
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Both an Art and science of formulating, implementing, and evaluating, cross-functional
decisions that facilitate an organization to accomplish its objectives.

Answer: Strategic management

Question 5
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Organizations need to set adequate and appropriate objective to cover all performance
areas.
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True
False

Question 6
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The quality of the objectives can be judge on the basis of its ability to give scientific
direction.

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True
False

Question 7
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It is designed to help potential shareholders and investors understand the purpose of the
company.

Answer: Mission Statement

Question 8
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A statement, that provides a perspective of the means, which will lead the organization,
reach the vision in the long run.

Select one:
Strategic Intent
Verifiability
Management Intent
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Question 9
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This takes Strategic Intent to an all-together new level by including the employee's
emotions with the organization aspirations.

Select one:
Sense of Discovery
Sense of Direction
Sense of Destiny
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Question 10
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It is time-based measurable actions, which help in the accomplishment of goals.
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Business Model
Objectives
Plan
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