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Strategic Management MCQ

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

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

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

Both of these

None of these

Answer

Correct Answer: Focusing more long-term solvency than on short-term solvency

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_________ is another term for a defensive strategy.

A growth strategy

A retrenchment strategy

The aggressive approach

A fixed plan

Answer

Correct Answer: A retrenchment strategy

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__________involves ensuring proper strategic controls and organizational designs.

Corporate governance

Corporate-level strategy

Romantic and unromantic.

Answer

Correct Answer: Corporate governance

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The primary means by which a firm can diversify are ______, _, and ____.

Mergers and acquisitions; differentiation; overall cost leadership

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

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

Mergers and acquisitions; internal development; differentiation

Answer

Correct Answer: Mergers and acquisitions; joint ventures and strategic alliances; internal development

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

Strength

Threat

Opportunity

Weakness

Answer

Correct Answer: Strength

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

Discount stores

Specialty stores

Convenience stores

Department stores

Answer

Correct Answer: Discount stores

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An apprenticeship involves _____.

Trade school

Hands-on experience in a skill

Online learning

Answer

Correct Answer: Hands-on experience in a skill

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

Online learning

1-5 years

Personal information and career information

Answer

Correct Answer: Personal information and career information

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

Program

Procedure

Vision

Project

Answer

Correct Answer: Procedure

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

Integration strategy.

Strategy

Cost-leadership

Learning effects

Answer

Correct Answer: Integration strategy.

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

Learning curve

Experience curve

Minimum efficient scale

Maximum efficient scale

Answer

Correct Answer: Experience curve

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

Continuation Pay

None of the above

Compounding

All of the about

Answer

Correct Answer: All of the about

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

Put your most important idea last

Minimize self-congratulatory adjectives and adverbs

Write in long descriptive sentences and paragraphs

Try to cover multiple, unrelated news items at once

Include extraneous facts to add interest

Answer

Correct Answer: Minimize self-congratulatory adjectives and adverbs

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_____ is a support activity of the value chain.

Localization

International

Logistics

Location economies.

Answer

Correct Answer: Logistics

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

Departmentalization

Organizational design

Organizational structure

Work specialization

Answer

Correct Answer: Organizational structure

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

Functional

Clicks-and-bricks

Focus

Differentiation

Answer

Correct Answer: Clicks-and-bricks

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

Strategic goals.

Tactical goals.

Tactical plans.

Operational goals

Answer

Correct Answer: Strategic goals.

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

The power of existing suppliers; buyers

Barriers to entry; expected retaliation of current industry organizations

The demand for the product; the profitability of the competitors

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

Answer

Correct Answer: Barriers to entry; expected retaliation of current industry organizations

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

Margin

Stratified

Purposive

Theoretical

Accidental

Answer

Correct Answer: Margin

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A business with a differentiation strategy will _______.

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

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

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

Ensure that the products it sells fit the category of commodities

Try to sell its products at the lowest possible price

Answer

Correct Answer: Find a niche and offer product(s) / service(s) that fit the niche better than its competitors product(s) / service(s) do

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

A cost or differentiation advantage

An effective strategy

Long-term success

Strategic flexibility

Answer

Correct Answer: A cost or differentiation advantage

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The traditional approach to planning ________.

Involves most organizational members in the process

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

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

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

Is not used in most organizations today

Answer

Correct Answer: Often uses a formal planning department to help write plans with top management

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

Of the plan's implementation can affect the results achieved

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

The prioritization of objectives is undertaken during this stage

The objectives to be achieved are determined during this phase

Answer

Correct Answer: The objectives to be achieved are determined during this phase

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Common sources of new business opportunities include _, , and ____.

Current work experiences, suggestions by friends, chance event

Mass customization systems, LIFO systems, suggestions by friends

First-in, first-out systems, chance event

Just-in-time inventory systems, current work experiences

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

Answer

Correct Answer: Current work experiences, suggestions by friends, chance event

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Advertising and brand names ______.

Can be efficient but are not always efficient

Are equally efficient in monopolistically competitive markets and perfectly competitive markets

Are always efficient

Are never efficient

Answer

Correct Answer: Can be efficient but are not always efficient

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Teams _______________ recruiting costs if they wish.

Can eliminate all of their

Can eliminate half of their

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

Answer

Correct Answer: Can eliminate all but the $1,000 base cost per new employee

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Strategic considerations for corporate entrepreneurship include _ and _.

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

Strengthening competitive position, obtaining above average returns

Investments can be stage, smaller

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

Answer

Correct Answer: Strengthening competitive position, obtaining above average returns

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

Sales force

Top management

Middle management

Answer

Correct Answer: Top management

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Companies can achieve growth mainly by ____.

Stability

Grand strategies and the portfolio strategy

Dysfunctional consequences can occur when companies are categorized.

Growing internally through direct expansion or creating new businesses

Answer

Correct Answer: Growing internally through direct expansion or creating new businesses

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

Leverage ratios

Turnover ratios

Liquidity ratios

Profitability ratios

Answer

Correct Answer: Turnover ratios

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

It reduces time lags

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

Organizational flexibility is reduced

Organization response time is increased

Answer

Correct Answer: It reduces time lags

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

Function

Structure

Profits

Goals

Answer

Correct Answer: Structure

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New knowledge involves the continual interaction between and knowledge.

Intellectual; pragmatic

Theoretical; practical

Tacit; explicit

Detailed; tacit

Answer

Correct Answer: Tacit; explicit

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The strategic training and development process begins with _____.

Choosing strategic training and development initiatives

Identifying the business strategy

Developing websites for knowledge sharing

Identifying measures or metrics

Answer

Correct Answer: Identifying the business strategy

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

Roster

Vision

Domains

SysSPs

Answer

Correct Answer: Vision

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

Function

Structure

Profits

Goals

Answer

Correct Answer: Structure

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

Logos

Artistic works

Job upgrading

Cybersquatting

Answer

Correct Answer: Logos

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

Confidence

Honesty

Self management

Neatness

Answer

Correct Answer: Self management

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

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

Technical skill and human skill

Technical skills are less important than human skills

Demonstrates ability to construct organizational solutions

Answer

Correct Answer: Technical skills are less important than human skills

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A ______________ is a set of specific steps to be taken to achieve a desired result.

True

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

Procedure

False

Answer

Correct Answer: Procedure

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Strategic Management MCQ

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

_________ is another term for a defensive strategy.

__________involves ensuring proper strategic controls and organizational designs.

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

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

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

An apprenticeship involves _____.

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

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

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

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

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

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

_____ is a support activity of the value chain.

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

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

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

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

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

A business with a differentiation strategy will _______.

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

The traditional approach to planning ________.

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

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

Advertising and brand names ______.

Teams _______________ recruiting costs if they wish.

Strategic considerations for corporate entrepreneurship include ___________ and ___________.

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

Companies can achieve growth mainly by ____.

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

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

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

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

The strategic training and development process begins with _____.

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

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

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

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

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

A ______________ is a set of specific steps to be taken to achieve a desired result.

The primary means by which a firm can diversify are ______, _, and ____.

Common sources of new business opportunities include _, , and ____.

Strategic considerations for corporate entrepreneurship include _ and _.

New knowledge involves the continual interaction between and knowledge.