General Business Strategy MCQs

1. What should be included in a business plan?

2. What is an example of a company that uses horizontal integration?

3. Which is NOT one of Porter's Five Forces?

4. What trait exists for both high market share and low market share companies?

5. In consideration of marketing, what is customer churn, or attrition rate?

6. What is an example of a disruptive technology?

7. What is an example of a company that uses vertical integration?

8. What does IPO stand for?

9. Within SWOT analysis, what is an example of a threat?

10. What is a venture capital (VC) company?

11. Why are profit margins important?

12. In discovery-driven planning, general managers should:

13. What is a good way to avoid discrimination lawsuits?

14. What does the S stand for in the SWAT analysis?

15. Which of the following is a strategy used to gain a competitive advantage?

16. What is a strategic alliance?

17. SWOT analysis is one of the earliest business strategy frameworks. What does it stand for?

18. What is an important factor when determining a company's value?

19. When does a Monopoly exist?

20. What are the two main objectives of marketing?

21. In what scenario is your company ready for an IPO?

22. What is a strength of McDonald's business strategy?

23. What are some of the possible disadvantages on relying on business cases when making strategic moves in business?

24. Define a Differentiation Strategy

25. Which of these is illegal?

26. True or False? A SWOT analysis can be used for a person, place, or product.

27. What does LLC stand for?

28. What is the primary focus of business strategy?

29. What organizational failure can cripple a business strategy?

30. What is the benefit of a broad portfolio of assets?

31. What is an example of a company that could be considered to be in a cyclical industry?

32. Why is customer acquisition cost important?

33. Within the Porter Five Forces Analysis, what is defined as the ability of customers or suppliers to coerce the firm?

34. What is a disavantage for a sole-propietorship?

35. A firm that decides the price of a good or service is a __________?

36. How can a firm achieve a low cost operation?

37. What encompasses the lifetime value of a customer?

38. What is the major difference between operational management and strategic management?

39. What is a legal monopoly?

40. What is an "angel investor"?

41. What is customer acquisition cost?

42. What is predatory pricing?

43. What is the advantage of a sole-proprietorship?

44. Which one of the following business structures is NOT a limited liability option?

45. What is one valid criticism of why it is NOT advised to rely on SWOT analysis?

46. What does "markup" mean in retail businesses?

47. What does the term "cash cow" mean in business?

48. When Facebook purchased Instagram, it employed what type of strategy?

49. Which of the following statements is true about blue ocean markets?

50. Democratic Leadership style is also known as_____?

51. What did companies replace their expansive multi-division portfolios with?

52. As a business owner if you notice a large amount of market segmentation occurring you should...

53. What is a Cyclical Industry?

54. What is a tariff?

55. How could market segmentation benefit you from a business strategy standpoint?

56. How can you benefit from forming a LLC?

57. What does the notion of a “learning organization” suggest?

58. What does CAPM stand for?

59. When can dynamic management provide a much better platform for solving problems?

60. What is disruptive innovation?

61. Why might you use discovery-driven planning?

62. Which of the following would probably NOT be considered wrongful termination of an employee?

63. True of False? A Cost Leadership strategy places an emphasis on lower selling prices rather than lower costs.

64. How can companies avoid falling prey to "The Icarus Paradox"?

65. Which of the following is a benefit of Horizontal Integration?

66. Which framework determines the competitive intensity of a market?

67. What is horizontal integration?

68. According to the Growth-share matrix, a high market growth rate and market share means you are:

69. Which is NOT a stage in the shifting basis of competition?

70. What are profit margins?

71. What is a hostile takeover?

72. If you are a company in a cyclical industry what is a good business strategy for you?

73. What micro-economic analysis would you use to analyze economics, social factors, and government regulations?

74. What is recombinant innovation?

75. A competitive advantage suggests what?

76. What trait should an information-driven company have at its core?

77. OPEC is an example of what?

78. Why must change be a strategic function of business?

79. What does the T stand for in the PEST analysis?

80. What are two internal environmental factors that must be considered when developing a sound marketing strategy?

81. Oil companies' business models are examples of what?

82. What performance management tool do companies use to measure and retain their competitive advantage?

83. What is "The Icarus Paradox"?

84. A demand curve is more price elastic when a price____________ ?

85. What is an example of a legal monopoly?

86. In which situation would a joint venture make the most sense?

87. What company is an example of a brandnomer?

88. How many of porter's five forces refer to competition?

89. What ratio is used as an indicator of the size of a leading firm in relation to its industry?

90. What market dominance trend is common in most industries?

91. Which is not a value chain function?

92. What is a time-series cross-sectional model that accounts for variation such as seasonality in the hospitality industry?

93. A firm employing a differentiation strategy is focusing on what?

94. What is another name for dynamic management?

95. Which would help maintain a competitive advantage?

96. How is the SWOT analysis used in setting priorities?

97. What purpose does a balanced scorecard serve?

98. How can a firm mitigate the risk of an employee with specialized knowledge leaving the company while empowering other employees?

99. How should a strategic plan be evaluated for financial viability?

100. Which would be used to evaluate productivity?

101. Which area would a company not focus on during strategic planning?

102. Which would be best to review to see trends and overall performance of the past?

103. Why is 'skilled staff' not a competitive advantage?

104. What significance does a 'debt to equity ratio' have to a business owner in evaluating how the company has performed?

105. What is the purpose of a strategy map?

106. Why must goals be measurable?

107. What would examining the supply and demand dynamics for a supplier's goods accomplish?

108. How should firms plan for unknown future economic events?

109. How should a company communicate a new strategic plan company wide?

110. Why would a company set strategic priorities for the next 5 years?

111. How often should strategic plans be revised and assessed?

112. What are the three main elements to a strategic plan?

113. What is the term for factors which prevent competition from entering a market easily?

114. What are the three levels of competitors?

115. Correct order for creating a strategic plan?

116. Why would new firms enter a declining market space during an economic downturn?

117. Which most closely impacts an organization?

118. What are the four main areas for setting priorities?

119. What is a department plan?

120. Why is it important to continually communicate a plan to all employees?

121. What two factors are used in the GE Matrix for strategic analysis?

122. How can a firm maintain its competitive advantage?

123. Why is consistency considered an competitive advantage?

124. What is the main goal in setting customer related priorities?

125. Which is a reason for the failure of a strategic plan?

126. Why would a failed past performance item be worth examining?

127. Why would a firm not mitigate small risks to business?

128. Which is an example of an internal priority?

129. What is a mission statement?

130. What is meant by disaster planning?

131. Which is a barrier to entry?

132. What section of the environment would your competitors be categorized as?

133. What should a company prepare financial ratios for?

134. What does the action plan portion of a strategic plan accomplish?

135. What is the simplest way to make sure that a plan is launched and completed by all parties involved?

136. Which is a method a company could use to evaluate its competitive advantage?

137. What is meant by scenario planning?

138. Which is the method often used to ensure that managers implement strategic plans?

139. Why is it important to have someone who was not involved in creating the plan review the final strategic plan?

140. Which is a common risk outside the control of the business?

141. Why is it important to reflect on past successes?

142. Which would be the best way to mitigate the financial impact of a natural disaster?

143. Why is it important to think about execution before planning?

144. Which non financial factors from the past should be examined as they impact the company the most?

145. What is a SWOT Analysis?

146. What is a common pitfall discovered when a strategic plan is implemented?

147. What must a competitive advantage be in order truly to be an advantage?

148. How does a firm prioritize which threats to their business would be most damaging?

149. Which would be an example of a Customer Strategic Priority?

150. What else must a company have besides an advantage in order to succeed in the long term?

151. Which need to be addressed before implementing a plan?

152. How can a company prevent a disaster related to the crash of company servers while facilitating the employees' ability to perform in their jobs?

153. Hubble's constant is a ""constant"" in that its value __________.

154. _____ are important to possess because they can be used in many different jobs and situations.

155. A business model represents a ____ in a business situation.

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

157. Concept maps work because they _______.

158. Key aspects of the process selection challenge include _________ and __________.

159. The balanced scorecard approach to control ____.

160. _____ refers to performing different tasks than rivals or the same tasks in a different way.

161. __________ are responsible for directly achieving organizational goals.

162. Hospice care is expensive because it _____.

163. One year from now bond c should sell for ________ (to the nearest dollar).

164. Proponents of the emh think technical analysts __________.

165. The normative decision theory ____.

166. Testing a prototype of a new product is an example of a ________.

167. Corporate-level strategy is concerned with ____ and how to manage these businesses.

168. Offer an inconsistent assortment of brand-name merchandise at low prices.

169. ________ exemplifies the complexity of relationships among the functional areas of business.

170. When the stock market crashed stocks _______.