Strategic Management and Planning MCQs
Strategic Management and Planning MCQs
Answer these 100+ Strategic Management and Planning MCQs and see how sharp is your knowledge of Strategic Management and Planning. Scroll down and let's start!
1: A strategy whereby leaders aim to create products or services that enjoy little competition,_____ because they meet a need that is not being met.
A. vaguely
B. faultlessly
C. precisely
D. all of these
2: Competitive Advantage is a condition that allows a company to maintain a more profitable position in the market than other companies.
A. true
B. false
3: Achieving the lowest cost of goods or services sold in the firm’s competitive industry or industry segment is known as___?
A. superintendence
B. Cost Leadership
C. competitive cultures
D. all of these
4: Descriptive Analytics Includes a summary of historical data, providing information about what has happened.?
A. true
B. false
5: Differentiation is not ensuring that a company is different from its competitors.
A. false
B. true
6: _____whereby leaders aim to identify unexpected outcomes, analyze them, and apply what they have learned to future strategies?
A. emergent strategy
B. emergent curriculum
C. trivial strategy
D. none of these
7: Environment scans Constant measurement and assessment of the work environment.
A. true
B. flase
8: Fact-Based Management decisions based on research
A. true
B. false
9: Analyzing what one puts into the system and what comes out, as a result, is known as ?
A. Feedback Loop
B. knowledge
C. management
D. none of these
10: Analysis in the industry by enabling users to break down its weaknesses and strengths is known as____?
A. forces analysis
B. four-force analysis
C. five-force analysis
D. none of these
11: Goals are not Broad accomplishments an individual hopes to achieve.?
A. true
B. false
12: The difference between the information needed and what is available is known as?
A. intelligence gap
B. culture value
C. Ideas
D. none of these
13: A process, cycle, and discipline of knowledge acquisition, knowledge creation, knowledge-sharing, and knowledge application is known as?
A. intelligence gap
B. decision making
C. knowledge management
D. all of these
14: Long term financial objectives are Company wide financial goals that are meant to be______ over the course of several years.
A. financial report.
B. knowledge management
C. accomplished
D. objective goal
15: Three or four words that sum up an organization’s vision, mission, culture, or product is known as?
A. implementation
B. enactment
C. management
D. mantra
16: Organizations that exist to accomplish a goal unrelated to making a profit are known as ?
A. Not-For-Profit Organizations (NPOs)
B. profit organization
C. organizational manager
D. All of these
17: What an individual specifically wants to get done.?
A. objective
B. Goals
C. success
D. none of these
18: Organizational citizenship behavior is a complex phenomenon characterized by altruism, conscientiousness, sportsmanship, and courtesy. v?
A. true
B. false
19: Performance management is Creating, monitoring, and refining a _____to ensure that employees perform their best.?
A. workplace environment
B. monotonous regularity
C. disorganization
D. none of these
20: Predictive Analytics that identify what is probably to occur.?
A. true
B. false
21: Predictive modeling is used to anticipate future trends.
A. true
B. false
22: Prescriptive is referring to rules or a plan.
A. true
B. false
23: Analytics that identifies what should be done about what is likely to occur is known as?
A. prescriptive analytics
B. predictive modeling
C. profit
D. all of these
24: The surplus left after a company pays for wages is known as?
A. proceeds
B. forfeit
C. disbursement
D. profit
25: Shareholders is an ?
A. Referring to rules or a plan
B. Individuals with an interest in a company.
C. Individuals who own shares in a company.
D. all of these
26: The difference between the strategic knowledge needed and what is available is known as ?
A. financial report.
B. knowledge management
C. accomplished
D. Strategic Knowledge Gaps
27: Management that includes long-term planning, continuous reflection, and assessment of an organization’s progress toward meeting its goals is known as ?
A. Strategic management
B. lower management
C. working stiff
D. none of these
28: A process or document that communicates an organization’s goals and maps out the actions needed to reach those goals is known as?
A. Strategic management
B. Sustainable Development
C. SWOT Analysis
D. Strategic Plan
29: Sustainable Development is a?
A. An examination of strengths, weaknesses, opportunities, and threats
B. Enduring, passionate, and distinctive core beliefs.
C. Describes what a company hopes to achieve in the long run.
D. Growth that ensures positive outcomes for both the current moment and into the future.
30: SWOT analysis is an examination of strengths, weaknesses, opportunities, and threats?
A. true
B. false
31: Values are enduring, passionate, and distinctive core beliefs.?
A. true
B. false
32: Describes what a company hopes to achieve in the long run is known as?
A. Wicked Problems
B. Autonomy
C. Values
D. vision statement
33: Wicked Problems is a ?
A. Large, multifaceted problems.
B. benevolent
C. pacifist problem
D. none of these
34: Strategic planning starts by looking at an organization’s ______.
A. past
B. desired future
C. goals and objectives
D. current state
35: The triple bottom line, or 3Ps, focuses mostly on a company’s responsibility to its ______.
A. owners
B. employees
C. shareholders
D. stakeholders
36: An organization’s core beliefs, or ______, guides their overall thinking and actions.
A. mission statement
B. values
C. vision statement
D. mantra
37: A SWOT analysis measures strengths, weaknesses, opportunities, and ______.
A. trades
B. threats
C. technologies
D. techniques
38: John is looking to buy a camera. He drove 30 minutes past his local electronics store, to go to Just Cameras, a store that specializes in high-end cameras. This is an example of ______.
A. differentiation
B. cost leadership
C. strategic vision
D. competitive advantage
39: What is one way to ensure that a SWOT analysis is successful?
A. List more than five items per quadrant.
B. Rely on guesswork.
C. Keep competitors in mind.
D. Use terms that can be interpreted.
40: Walmart’s statement: “We save people money so they can live better,” is an example of their ______.
A. mission statement
B. vision statement
C. strategic plan
D. mantra
41: Once you have created an accountability plan, what is the next step in strategic planning?
A. implement and review the plan
B. establish clear objectives
C. document priorities
D. determine your organization’s current state
42: “Achieving athletic excellence” could be an example of Nike’s ______.
A. strategic plan
B. vision statement
C. mission statement
D. mantra
43: Markus owns stock in the Triple B corporation. Markus is a ______.
A. marketer
B. stakeholder
C. shareholder
D. planner
44: Mark is looking to create a company that sells and distributes a product that meets a need that no other product or company can meet. This is known as ______.
A. Blue Ocean Strategy
B. Emergent Strategy
C. Wicked Strategic Management
D. Not for Profit Strategy
45: The statement “know how to perform three separate swimming strokes” as part of a swimming test for camp is an example of a(n) ______.
A. goal
B. objective
C. value
D. mission
46: John is looking to buy a camera. He drove 30 minutes past his local electronics store, to go to Just Cameras, a store that specializes in high-end cameras. This is an example of ______.
A. differentiation
B. cost leadership
C. strategic vision
D. competitive advantage
47: What is one way to ensure that a SWOT analysis is successful?
A. List more than five items per quadrant.
B. Rely on guesswork.
C. Keep competitors in mind.
D. Use terms that can be interpreted.
48: All objectives should be SMART. The T in SMART stands for ______.
A. truthful
B. trusting
C. transparent
D. time bound
49: A local gas station wants to offer the cheapest cup of coffee out of all their competition. They are looking to be a ______ in the market.
A. differentiator
B. cost leader
C. strategic leader
D. visionary
50: Once you have created an accountability plan, what is the next step in strategic planning?
A. implement and review the plan
B. establish clear objectives
C. document priorities
D. determine your organization’s current state
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