Strategic Management MCQs

Strategic Management MCQs

The following Strategic Management MCQs have been compiled by our experts through research, in order to test your knowledge of the subject of Strategic Management. We encourage you to answer these multiple-choice questions to assess your proficiency.
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1: A ______________ is a set of specific steps to be taken to achieve a desired result.

A.   True

B.   A program that offers discounts to libraries and schools ensuring they have affordable access to modern telecommunications and information services.

C.   Procedure

D.   False

2: At the upper-management level in an organization, ______.

A.   That the skills model is not just a competency-based model

B.   Technical skill and human skill

C.   Technical skills are less important than human skills

D.   Demonstrates ability to construct organizational solutions

3: By making sure that you have properly prioritized your tasks, you are showing ______.

A.   Confidence

B.   Honesty

C.   Self management

D.   Neatness

4: In the context of intellectual property, _____ are categorized as industrial property.

A.   Logos

B.   Artistic works

C.   Job upgrading

D.   Cybersquatting

5: The competitive strategy followed by an organization is derived from the ________ of its industry.

A.   Function

B.   Structure

C.   Profits

D.   Goals

6: Strategic planning is the process of moving the organization towards its ____.

A.   Roster

B.   Vision

C.   Domains

D.   SysSPs

7: The strategic training and development process begins with _____.

A.   Choosing strategic training and development initiatives

B.   Identifying the business strategy

C.   Developing websites for knowledge sharing

D.   Identifying measures or metrics

8: New knowledge involves the continual interaction between __________ and __________ knowledge.

A.   Intellectual; pragmatic

B.   Theoretical; practical

C.   Tacit; explicit

D.   Detailed; tacit

9: The competitive strategy followed by an organization is derived from its ________.

A.   Function

B.   Structure

C.   Profits

D.   Goals

10: Continuous monitoring, in the contemporary approach, is beneficial because _____________.

A.   It reduces time lags

B.   It increases the time it takes to detect changes in the competitive environment

C.   Organizational flexibility is reduced

D.   Organization response time is increased

11: __________ ratios reflect whether or not a firm is efficiently using its resources.

A.   Leverage ratios

B.   Turnover ratios

C.   Liquidity ratios

D.   Profitability ratios

12: Companies can achieve growth mainly by ____.

A.   Stability

B.   Grand strategies and the portfolio strategy

C.   Dysfunctional consequences can occur when companies are categorized.

D.   Growing internally through direct expansion or creating new businesses

13: In order for marketing (big m) to succeed, it must be championed by __________.

A.   Sales force

B.   Top management

C.   Middle management

14: Strategic considerations for corporate entrepreneurship include ___________ and ___________.

A.   Overarching commitment to corporate activities, resource allotment to support actions, and the use of product champions in promoting entrepreneurial behaviors

B.   Strengthening competitive position, obtaining above average returns

C.   Investments can be stage, smaller

D.   A firm-specific view of innovation that defines how a firm can create new knowledge and learn from an innovation initiative even if the project fails

15: Teams _______________ recruiting costs if they wish.

A.   Can eliminate all of their

B.   Can eliminate half of their

C.   Can eliminate all but the $1,000 base cost per new employee

16: Advertising and brand names ______.

A.   Can be efficient but are not always efficient

B.   Are equally efficient in monopolistically competitive markets and perfectly competitive markets

C.   Are always efficient

D.   Are never efficient

17: Common sources of new business opportunities include _________, ________, and ____________.

A.   Current work experiences, suggestions by friends, chance event

B.   Mass customization systems, LIFO systems, suggestions by friends

C.   First-in, first-out systems, chance event

D.   Just-in-time inventory systems, current work experiences

E.   Last-in, first-out systems, suggestions by friends

18: Implementing plans is an important stage in the planning process because ________.

A.   Of the plan's implementation can affect the results achieved

B.   This phase overlaps with the analysis of the firm's external environment

C.   The prioritization of objectives is undertaken during this stage

D.   The objectives to be achieved are determined during this phase

19: The traditional approach to planning ________.

A.   Involves most organizational members in the process

B.   Often uses a formal planning department to help write plans with top management

C.   Begins with plans that are developed by organizational members in their work units to meet their own specific needs

D.   Often places the focus on developing the plan for use in guiding coordinating work efforts

E.   Is not used in most organizations today

20: A firm that is stuck in the middle cannot develop ________.

A.   A cost or differentiation advantage

B.   An effective strategy

C.   Long-term success

D.   Strategic flexibility

21: A business with a differentiation strategy will _______.

A.   Find a niche and offer​ product(s) /​ service(s) that fit the niche better than its competitors​ product(s) /​ service(s) do

B.   Ensure the service it offers is just as good as its​ competitors,' not​ better, not worse

C.   Make sure it​ doesn't spend more money on service​ / sale than its competitors do

D.   Ensure that the products it sells fit the category of commodities

E.   Try to sell its products at the lowest possible price

22: The _____ represents the value added by supporting primary activities of a value chain.

A.   Margin

B.   Stratified

C.   Purposive

D.   Theoretical

E.   Accidental

23: The likelihood of entry of new competitors is affected by and ___________.

A.   The power of existing suppliers; buyers

B.   Barriers to entry; expected retaliation of current industry organizations

C.   The demand for the product; the profitability of the competitors

D.   The profitability of the industry; the market share of its leading firm

24: _____ are the broad statements of where the organization wants to be in the future.

A.   Strategic goals.

B.   Tactical goals.

C.   Tactical plans.

D.   Operational goals

25: A ________ firm uses both online and traditional stand-alone locations.

A.   Functional

B.   Clicks-and-bricks

C.   Focus

D.   Differentiation

26: The formal arrangement of jobs within an organization is known as ________.

A.   Departmentalization

B.   Organizational design

C.   Organizational structure

D.   Work specialization

27: _____ is a support activity of the value chain.

A.   Localization

B.   International

C.   Logistics

D.   Location economies.

28: In order to write a successful news release, you should ________.

A.   Put your most important idea last

B.   Minimize self-congratulatory adjectives and adverbs

C.   Write in long descriptive sentences and paragraphs

D.   Try to cover multiple, unrelated news items at once

E.   Include extraneous facts to add interest

29: Service member decisions to opt into the blended retirement system (brs) _____.

A.   Continuation Pay

B.   None of the above

C.   Compounding

D.   All of the about

30: In the _____, firms change the underlying technology while holding cumulative output constant.

A.   Learning curve

B.   Experience curve

C.   Minimum efficient scale

D.   Maximum efficient scale

31: In a successful _____, the trade-offs between differentiation and low cost are reconciled.

A.   Integration strategy.

B.   Strategy

C.   Cost-leadership

D.   Learning effects

32: A ______ is a standing plan that outlines the response to particular problems or circumstances.

A.   Program

B.   Procedure

C.   Vision

D.   Project

33: A personal career profile form evaluates two sets of data, _____.

A.   Online learning

B.   6

C.   1-5 years

D.   Personal information and career information

34: An apprenticeship involves _____.

A.   Trade school

B.   6

C.   Hands-on experience in a skill

D.   Online learning

35: _____ are retailers that compete on the basis of low prices, high turnover, and high volume

A.   Discount stores

B.   Specialty stores

C.   Convenience stores

D.   Department stores

36: A key __________ of swot is that it is primarily a static assessment.

A.   Strength

B.   Threat

C.   Opportunity

D.   Weakness

37: The primary means by which a firm can diversify are __________, _________, and ________.

A.   Mergers and acquisitions; differentiation; overall cost leadership

B.   Mergers and acquisitions; joint ventures and strategic alliances; internal development

C.   Joint ventures and strategic alliances; integration of value chain activities; acquiring human capital

D.   Mergers and acquisitions; internal development; differentiation

38: __________involves ensuring proper strategic controls and organizational designs.

A.   Corporate governance

B.   Corporate-level strategy

C.   Romantic and unromantic.

39: _________ is another term for a defensive strategy.

A.   A growth strategy

B.   A retrenchment strategy

C.   The aggressive approach

D.   A fixed plan

40: Ratio analysis can be made more meaningful in all of the following ways except by __________.

A.   Focusing more long-term solvency than on short-term solvency

B.   Focusing more short-term solvency than on long-term solvency (by self)

C.   Both of these

D.   None of these