Managing Strategy and Planning MCQs

Managing Strategy and Planning MCQs

Try to answer these 30 Managing Strategy and Planning MCQs and check your understanding of the Managing Strategy and Planning subject.
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1: Occurs when one business buys all or part of_____ business is known as acquisition ?

A.   Another

B.   Same

C.   Individual

D.   None of these

2: Overall strategies for a line of business,______ prospecting, defending, and

A.   Analyzing

B.   Together with

C.   Additionally

D.   Including

3: The process of comparing an organization’s products and services and processes with those of the same companies.

A.   True

B.   False

4: The corporate process of determining which lines of business the corporation will be in and how it will allocate resources among them is known as ?

A.   Business Portfolio Analysis

B.   Competitive Advantage

C.   Benchmarking

D.   Adaptive Strategies

5: _______ are the specifics of how an organization offers unique customer value?

A.   Competitive Advantage

B.   Contingency Plans

C.   Functional Strategies

D.   None of these

6: Alternative plans to be implemented if controllable events occur ?

A.   True

B.   False

7: Strategies developed and implemented by managers in marketing, operations,_______, finance, and other departments?

A.   Human resources

B.   Manpower

C.   People

D.   Worklessness

8: _________is an overall corporate strategy for growth, stability, or turnaround and retrenchment, or for some combination of these?

A.   Grand Strategy

B.   Growth Strategies

C.   Merger

D.   Tactics

9: Strategies a company can adopt in order to decrease?

A.   True

B.   False

10: ________ is the process in which managers and their employees jointly set objectives for the employees, periodically evaluate performance, and reward according to the results?

A.   Management by Objectives (MBO)

B.   Merger

C.   Management organization

D.   Management individually

11: Occurs when two companies form one corporation is known as ?

A.   Merger

B.   Diverge

C.   Combination

D.   None of these

12: Statements of what is to be ______ that are expressed in singular, specific, and measurable terms with a target date?

A.   Accomplished

B.   Skilled

C.   Incapable

D.   None of these

13: The process of setting short-range objectives and determining in advance how they will be_______

A.   Accomplished

B.   Skilled

C.   Incapable

D.   None of these

14: General guidelines to be followed when making decisions is known as ?

A.   Policies

B.   Procedure

C.   Rules

D.   None of these

15: A sequence of actions to be followed in order to achieve an objective is known as ?

A.   Procedure

B.   Incapable

C.   Clumsy

D.   None of these

16: Statements of exactly what should or should be done?

A.   True

B.   False

17: Programs and budgets developed for handling nonrepetitive situations are known as?

A.   Situation Analysis

B.   Single-Use Plans

C.   Standing Plans

D.   Strategic Planning

18: _______is an analysis of those features in a company’s environment that most directly affect its options and opportunities.?

A.   Situation Analysis

B.   Standing Plans

C.   Strategic Planning

D.   None of these

19: Policies, procedures, and rules developed for handling repetitive situations are known as?

A.   Situation Analysis

B.   Standing Plans

C.   Strategic Planning

D.   None of these

20: ___________is the process of developing a mission and long-range objectives and determining in advance how they will be accomplished?

A.   Situation Analysis

B.   Standing Plans

C.   Strategic Planning

D.   None of these

21: _____Is a plan for pursuing a mission and achieving objectives?

A.   Situation Analysis

B.   Standing Plans

C.   Strategic Planning

D.   Strategy

22: A determination of an organization’s external environmental strengths and weaknesses and external environmental opportunities and threats.

A.   True

B.   False

23: There are two main models of the Competitive Advantage process. What are they?

A.   SWOT analysis and benchmarking

B.   benchmarking and core competency

C.   SWOT and situation analysis

D.   core competency and SWOT analysis

24: Policies, procedures, and rules are part of ______.

A.   single-use plans

B.   human resources strategies

C.   standing plans

D.   functional strategies

25: Which is the first step in the strategic planning process?

A.   developing the mission

B.   analyzing the environment

C.   establishing objectives

D.   developing goals and tactics

26: The analysis that focuses on those features in a company’s environment that directly affects its options and opportunities is ______.

A.   five force competitive analysis

B.   situation analysis

C.   company situation analysis

D.   SWOT analysis

27: Of the following statements, which is the best example of a well written SMART goal?

A.   to sell 10% more popcorn and soda at the premiere of the Star Wars movie this weekend

B.   to increase sales and profit during 2015

C.   to increase our customer base by 12%

D.   To improve our customer image in 2015

28: The technique that enables us to get more done in less time with better results is called ______.

A.   time management

B.   decision-making

C.   progress planning

D.   strategic planning

29: Attempting to improve cash flow by increasing revenues, decreasing costs, reducing assets, or combining these strategies to realign the firm with its external environment is called ______.

A.   growth strategy

B.   stability strategy

C.   turnaround strategy

D.   retrenchment strategy

30: ______ is when a company targets a specific regional market, product line or buyer group.

A.   Cost leadership strategy

B.   Focus strategy

C.   Differentiation strategy

D.   Prospecting strategy

31: Programs and budgets developed for handling non-repetitive situations are part of what kind of plan?

A.   financial plan

B.   standing plan

C.   corporate plan

D.   single-use plan

32: Who is responsible for implementing the operational strategies on a day-to-day basis?

A.   top managers and CEOs

B.   middle-managers

C.   employees and lower-level managers

D.   middle and lower-level managers

33: When an organization enters a line of business closer to the final customer, this is known as:

A.   forward integration

B.   backward integration

C.   concentration

D.   diversification

34: Strategic and operational plans include which three planning levels?

A.   corporate, divisional, departmental

B.   corporate, business, functional

C.   business, departmental, individual

D.   functional, divisional, business

35: Which of the following decreases competition, helps companies compete more effectively and realize economies of size, and consolidate expenses?

A.   integration strategy

B.   forward integrations

C.   backward integration

D.   merger and acquisitions growth strategy

36: Which strategy is developed by the department with primary responsibility for knowing what the customer wants or how to add customer value?

A.   operations strategy

B.   finance strategy

C.   marketing strategy

D.   human resources strategy

37: ______ is when a company calls for aggressively offering new products and services and/or enters new markets in pursuit of opportunities.

A.   Prospecting

B.   Defending

C.   Analyzing

D.   Acquiring

38: It deployment strategies fall into two broad categories, which are ________:

A.   Service level agreements

B.   Drivers have a long or unlimited life span.

C.   In-house development and sourcing

D.   Enforce SLAs and other contracts

39: Organization development can be viewed as an attempt to change an organization's ________.

A.   The impractical Correct

B.   Culture

C.   Government laws and regulations Correct

D.   Reward power Correct