MCQ Questions Strategic Management

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Strategic Management MCQ Questions with Answers

Question. Developing a is like having a dream to be covered into reality in future           
A. Mission
B. Objectives
C. Goals
D. Vision

Question. A joint venture can be defined as:                           
A. Two firms collaborate together on a specific project
B. One firm licenses its intellectual property to another firm
C. Two firms merge together
D. Two firms come together to form a third, legally separate firm

Question. The basic activities of strategic management include:           
A. offense, defense, and control
B. situation analysis, strategy formulation, implementation, and evaluation
C. development, control, and management
D. ethics, management, and practice

Question. Which of the following is not an aspect of a definition of the term budgets?               
A. Concerned with allocation of resources and investment
B. A strategic plan outlining means to utilize budget, make sales, and generate profits
C. Numerical or financial expression of money to be spent by departments and for what purpose
D. Information on cash-flow

Question. Retrenchment is:                   
A. When a company experiences declining profits and makes cutbacks to improve efficiency
B. When a company adopts a new strategic position for a product or service
C. The sale of the complete business, either as a single going concern or piecemeal
to different buyers or sometimes by auctioning the assets
D. ely to take place when an organization lacks a key success factor for a particular market

Question. Which of the following is not a key planning element of spheres of influence?               
A. Buffer zones
B. Forward positions
C. Cost base
D. Vital interests

Question. Which of the following does Campbell (1989) suggest to be a dimension of valuable mission statements? 
A. Differentiates the business from competitors
B. States the objectives of the organization
C. Meaningful and relevant to stakeholders
D. States the values of the organization

Question. Value for shareholders of a firm is measured by:               
A. customer comments
B. stock performance and profitability
C. sales revenue
D. satisfactory employee targets

Question. Effective mission statements             
A. are usually changed every few months
B. are usually changed every few years
C. never require revision
D. stand the test of time and require little revision

Question. An example of a corporate strategy would involve the decision to:               
A. increase the price of the Hummer
B. spin Taco Bell off from Pepsi
C. combine marketing functions in the Northeast and the Southeast
D. increase the advertising budget for Coca-Cola

Question. According to Press (1990), what are the four discrete philosophies upon which an organization’s culture can be based?             
A. The resource focus, the product focus, the shareholder focus and the people focus
B. The product focus, the shareholder focus, the people focus and the market focus
C. The resource focus, the shareholder focus, the people focus and the market focus
D. The shareholder focus, the people focus, the product focus and the market focus

Question. Kets de Vries (1996) suggested strategic leaders have two key roles to play. Which two roles are they?       
A. Transformational and Effective
B. Charismatic and Effective
C. Transformational and Charismatic
D. Charismatic and Architectural

Question. is identifying opportunities and threats affecting their business             
A. Organizational analysis
B. Environmental analysis
C. Industry analysis
D. Competitive analysis

Question. Ben & Jerry had four market-product strategies to expand sales. They included             
(1) market penetration,
(2) product development,
(3) market development and:
A. current customer retention
B. defensive synergy
C. diversification
D. product simplification

Question. In strategic thinking, how long is the long term, approximately?               
A. 1 month to 1 year
B. 2 to 3 years
C. 3 to 5 years
D. More than 5 years

Question. What is monopoly power?                   
A. When an organization has absolute power in its chosen marketplace
B. When an organization has power over its immediate rivals in its chosen marketplace
C. When an organization has limited power in its chosen marketplace
D. When an organization buys out another organization and assumes power of its share of the marketplace

Question. Sustained survival implies       
A. that a turnaround is achieved but there is little further growth
B. that a turnaround is achieved and there is potential for further growth
C. that a turnaround is achieved and there is a clear opportunity to employ a new growth strategy
D. that a turnaround is achieved and it is appropriate to diversify soon

Question. is the collection of managerial decisions and actions that determine the long-run performance of an organization           
A. planning
B. goal-oriented management
C. strategic management
D. leadership

Question. Business unit competencies should be distinctive enough to provide a(n):               
A. clear understanding of who you want
to lead the company
B. competitive advantage
C. opportunity to compete on a productivity basis
D. additional strategic mission

Question. Job titles that refer to strategists include which of the following?               
A. External audit
B. Owner, entrepreneur, executive director, and accountant
C. Chief executive officer, salesman, dean, and lawyer
D. Owner, dean, president, and executive director

Question. Which of the following statements is false? Formal strategic planning                 
A. implies determined actions for achieving objectives
B. is a time consuming process
C. should develop clear and rigid plans for the organization to implement
D. is most applicable in stable environments

Question. Which of these is not an issue in selecting a business as a divestment candidate?             
A. Current market position
B. Product life-cycle
C. Alternate uses for resources
D. The size of the business

Question. Which of these is not a reason for why employees resist the implementation of strategic changes?             
A. Anxiety regarding jobs
B. Lack of necessary strategic resources
C. Lack of knowledge
D. Poor strategic leadership

Question. Which of the following is not a strategic criteria for deciding which firms to retain in the organizational core?           
A. The company???s mission
B. Longevity
C. Financial performance over time
D. Relatedness of technologies

Question. Which of the following statements best describes strategic management?             
A. A process consisting of determining objectives and strategic actions to achieve those objectives
B. A process consisting of determining objectives, strategic actions to achieve those objectives, the implementation of desired strategy, and the monitoring of that strategy
C. A process consisting of the determination of direction, strategic actions to achieve objectives, the implementation of desired strategy, and monitoring of that strategy
D. A process for determining direction, strategic actions to achieve objectives, and the implementation of desired strategy

Question. the sketch of the BCG matrix, what is the label of the vertical axis?               
A. Market growth rate
B. Business strength
C. Market share
D. Industry growth rate

Question. are the organizations major value creating skills, capabilities and resources that determine the organizations competitive weapons             
A. Strengths
B. Opportunities
C. Core competencies
D. Weaknesses

Question. From the following activity which does not comes under the primary activities of value Chain analysis:     
A. Operations 
B. Technology development
C. Marketing and sales
D. Services

Question. refers to the purposes an organization strives to achieve             
A. Strategic Intent
B. Strategic Formulation
C. Strategic Implementation
D. Strategic Control

Question. Select the statement that best applies to emergent strategies. Emergent strategy…               
A. implies an ability to react to events
B. implies strategizing
C. implies no deviation from plans
D. implies constant evaluation of the bigger picture

Question. An array of firm resources include interpersonal relations among managers in the firm, its culture, and its reputation with its customers and suppliers. Such competitive advantages are based upon                   
A. physical uniqueness
B. path dependency
C. social complexity
D. tangible resources

Question. The mission statement answers which question?           
A. What is our business?
B. How can we improve ourselves?
C. What do we want to become?
D. Who are our stakeholders?

Question. What are the guides to decision making?               
A. Rules
B. Procedures
C. Goals
D. Policies

Question. Many merger discussions breakdown or are abandoned. Which of these is not a reason why?               
A. Egos can get in the way
B. Reluctance to accept which will become??? number two???
C. The bid is deemed hostile leading to aggressive defense
D. Inadequate consultation with shareholders who then intervene

Question. According to Schein (1985), what are the levels that make up a company’s culture?             
A. Artifacts, values, underlying assumptions, and behaviors
B. Artifacts, values, and underlying assumptions
C. Artifacts, communications, underlying assumptions, and behaviors
D. Values, communications, and underlying assumptions

Question. The value chain is subdivided into two main headings. These are primary activities and:               
A. Peripheral activities
B. Support activities
C. Secondary activities
D. Outsourced activities

Question. Which of the following would you not expect to see in a vision statement?             
A. Descriptions of desirable future situations
B. Motivational terminology
C. Focus on the values to which the organization is committed
D. What the organization seeks to do to reach desirable future states

Question. Low cost, Differentiation and Focus are examples of           
A. Corporate strategies
B. Operational strategies
C. Business strategies
D. Functional strategies

Question. A marketing department that promises delivery quicker than the production department’s ability to produce is an example of a lack of understanding of the               
A. synergy of the business units
B. need to maintain the reputation of the company
C. organizational culture and leadership
D. interrelationships among functional areas and firm strategies

Question. assesses the whole strategic management process             
A. Strategic audit
B. Company audit
C. Business audit
D. None of the above

Question. Corporate level strategy deals with:                 
A. objectives of specific functions
B. objective of Single strategic Business Unit
C. objectives of the corporate
D. objectives of specific operations

Question. A possible and desirable future state of an organization is called:               
A. Mission
B. Vision
C. Strategy implementation
D. Strategy formulation

Question. strategy determines what businesses an organization should be in         
A. Business
B. Organizational
C. Operational
D. Corporate

Question. What do Cash Cows symbolize in BCG matrix?               
A. Remain Diversified
B. Invest
C. Stable
D. Liquidate

Question. Which of the following is not an element of strategic thinking?                     
A. Judge what strategic changes to make
B. Realize what needs to change
C. Understanding current strategic positions
D. Manage organizational resources and competencies

Question. allah group of industries is involved in the sale of its marginal business. It is mot likely to say that Abdullah group is implementing which one of the following strategies?           
A. Retrenchment
B. Liquidation
C. Acquisition
D. Join venture

Question. Which of the following is not a purpose of strategic thinking?               
A. To realize what needs to change
B. To establish the agenda for managing strategic change
C. To clarify future direction
D. To allocate scarce resources

Question. Miles and Snow (1994) identify four main reasons for failure. Which of the following is one of those reasons?         
A. Lack of competitive advantage
B. Lack of strategy competency
C. Lack of strategic resources
D. Poor judgement leading to poor, inappropriate strategic decisions

Question. Which of these is not a valid reason in support of focused strategies?               
A. Greater control
B. Reduction of weak business to develop a strong core
C. Competence consolidation
D. Cost reduction

Question. Which component of a mission statement addresses the firms distinctive competence or major competitive advantage?             
A. Technology
B. Philosophy
C. Concern for public image
D. Self-concept

Question. An organization that is diversifying its product line is exhibiting what type of growth strategy?
A. stability
B. retrenchment
C. growth
D. maintenance

Question. Divestment is what kind of strategy?
A. An asset-reduction strategy
B. A weakness-reduction strategy
C. A product-reduction strategy
D. A cost-reduction strategy

Question. Industry/sector benchmarking compares:
A. Organisational performance between firms/public sector organisations in different industries or sectors
B. Organisational performance between firms/public sector organisations in the same industry or sector
C. Organisational performance between firms/public sector organisations in different countries
D. Organisational performance between different divisions of the firm

Question. Strategic mission
A. is a statement of a firms unique purpose and scope of operations
B. is an internally-focused affirmation of the organization’s societal and ethical goals
C. does not limit the firm by specifying the industry in which the firm intends to compete
D. is developed by a firm before the firm develops its strategic intent

Question. Which of the following is an aspect of implementation that can be changed indirectly if necessary?
A. Organizational structure
B. Information systems
C. Quality
D. Procedures

Question. How might an organization spot, create, and exploit new opportunities ahead of its rivals?
A. Through managers in the various businesses working together, sharing information and capabilities, helping each other, and creating synergy
B. Through managers in the various businesses sharing information, capabilities, and creating synergy
C. Through managers in the various businessesworking together, sharing information, and sharing capabilities
D. Through managers in the various businesses working together to create strategic competencies for the organization in order to pursue opportunities

Question. takes place in the recovery phase of strategic conflict management
A. Conflict positioning
B. Reputation management
C. Risk communication
D. Issues tracking

Question. By what means should an organization measure its performance?
A. Efficiency
B. Effectiveness
C. Economy, efficiency, and effectiveness
D. Efficiency and effectiveness

Question. Which strategies aim at improving internal weakness by taking advantage of external opportunities?
A. SO
B. WO
C. SW
D. ST

Question. Strategy-implementation activities include
A. conducting research
B. measuring performance
C. preparing a TOWS matrix
D. establishing annual objectives

Question. The vision statement answers which question?
A. What is our business?
B. How can we improve ourselves?
C. What do we want to become?
D. Who are our stakeholders?

Question. Which of the following management accounting systems places a very strong emphasis on incorporating data relating to its competitors in the preparation of management reports?
A. Activity based management
B. Flexible budgeting
C. Strategic management accounting
D. Sales variance analysis

Question. Which of these is not a main determinant of centralization/decentralization?
A. Geographical considerations (e g , location etc)
B. Costs
C. Size
D. Demographical considerations (e g , age; ethnicity etc)

Question. Which of the following is NOT a characteristic of strategic management that makes it different from other types of management? Narayan Changder
A. It is interdisciplinary
B. It has an external focus
C. It has an internal focus
D. It concerns the present direction of the organization

Question. An effective mission statement is all of the following except
A. It reflects judgments about future growth directions that are based upon forward-looking external and internal analyses
B. It provides useful criteria for selecting among alternative strategies
C. It provides a basis for generating and screening strategic options
D. It is static in orientation

Question. A strategy addresses organizational weaknesses, helps stabilize operations and revitalizes organizational resources and capabilities
A. unrelated diversification
B. horizontal integration
C. vertical integration
D. retrenchment

Question. Which of the following is a skill required by organizations to deal with competitive chaos?
A. The ability to share information among all managers
B. The ability to operate efficiently and effectively
C. The ability to discern patters in the dynamic environment and competitive chaos, and spot opportunities ahead of rivals
D. The ability to benchmark competitors

Question. What is an emergent strategy?
A. One with clear objectives leading to a clear strategy
B. One with no specific objectives, that is fully flexible, using opportunism to seize the main chance at the right moment
C. One with a formal approach to adaptive strategy creation, so that in a turbulent environment objectives and strategies can be adjusted
D. One that has a clear mission and directional objectives but that also recognizes the need for flexibility

Question. In strategy firms try to achieve a high levels of local responsiveness by making their product or service offering to the requirement of the countries they operate
A. Global
B. Multidomestic
C. International
D. Transnational

Question. According to Ringbakk (1971) and Steiner (1972) which of the following should be avoided when creating a formal plan?
A. Seeing planning as a support activity in strategic decision making
B. Seeing planning as a once-a-year ritual
C. Flexibility
D. Involving implementers in planning

Question. Selling all of a companys assets in parts for their tangible worth is called:
A. Divestiture
B. Concentric Diversification
C. Liquidation
D. Unrelated integration

Question. A question for business level strategy would be
A. Which industries do we want to be in?
B. How should the businesses be related?
C. How should the business compete in its market?
D. How should resources be shared amongst the businesses?

Question. The strategic marketing process is how an organization allocates its marketing mix resources to reach its:
A. stated business ideas
B. potential
C. target markets
D. competition

Question. Which one of the following criteria does not provide a means to assess strategic resources?
A. Sustainability
B. Scarcity
C. Inimtability
D. Synergy

Question. strategies are also known as grand or root strategies
A. Corporate
B. Business
C. Functional
D. Operational

Question. Situation analysis involves the process of:
A. designing and choosing appropriate organizational strategies
B. analyzing the current environment of the organization
C. analyzing the external environment only
D. evaluating the internal aspects of theorganization 

Question. the sketch of the BCG matrix, what is the label of the horizontal axis?
A. Industry growth rate
B. Market share
C. Market growth rate
D. Business strength

Question. Best in Class Benchmarking seeks to assess organisational performance against:
A. The nearest geographical competitor
B. The competitor who is ’best in class’ wherever that may be
C. The competitor who is the best in the industry
D. The nearest principal competitor

Question. cohesive marketing mix consists of the product, promotion, price, and
A. personnel
B. production
C. advertising
D. communication

Question. are defined as resources, skills and attributes of an organization that are essential to deliver success in the market place
A. Balanced score card
B. Industrial analysis
C. Core competencies
D. Critical success facotrs

Question. Ansoff’s growth vector matrix is used for
A. analyzing the different strategic directions an organization can pursue
B. analyzing the balance of the portfolio
C. assessing whether the corporate parent is adding value
D. assessing the market share of a business

Question. Strategic business units
A. Are found in one-business organisations
B. Carry out strategies assigned by the CEO
C. Develop their own unique way of competing
D. Implement the marketing function’s strategic planning and management decisions

Question. stability strategy is a strategy
A. corporate level
B. business level
C. functional level
D. strategic level

Question. Corporate resource allocation may be different depending on the speed of growth of the organization. Which of the following is inappropriate when facing rapid growth?
A. Opportunities for synergy
B. Past allocations and budgets
C. Look to share activities
D. Assess desirability of outcomes to organizational strategy

Question. Exports and imports apply mostly to which of the following?
A. services
B. merchandise
C. intellectual property
D. licensing

Question. involves surveillance of a firm’s external environment to predict environmental changes to come and detect changes already under way
A. Environmental scanning
B. Environmental monitoring
C. Competitive intelligence
D. Environmental forecasting

Question. In the strategic marketing process, once you get results you go into the:
A. control phase
B. marketing plan
C. planning phase
D. marketing program

Question. What are focus strategies?
A. Where a company focuses on achieving lower costs than its rivals so as to compete across a broad range of market segments
B. Where a company chooses to concentrate on only one market segment or a limited range of segments
C. When a company conducts market research through focus groups to determinehow their strategy should be shaped 
D. When a company focuses on supplying differentiated products which appeal to different market segments

Question. Doing things right and doing the right things are also known as?
A. Efficiency and effectiveness
B. Strategic competency and congruence
C. Strategic competency and strategy creation
D. Corporate strategy and synergy

Question. Which of the following best relates to market share? Market share is:
A. the best indicator of performance
B. not important
C. indicative of competitive advantage
D. subjective

Question. Which of the following is one of the four key elements which must be adhered to if synergy is to be achieved?
A. Efficiency
B. Competitive strategies
C. Customer satisfaction
D. Effective leadership

Question. Why of the following is the best reason for why strategic planning is still important today?
A. Without a formal strategic plan a company cannot expect to compete effectively
B. Without a strategic plan an organization can drift without purpose or definition
C. Without it, companies would exist without cause or co-ordination
D. Because of slower economic growth, globalization and technological change

Question. is the process through which an organization evaluates its capability so as to have competitive advantage at market place
A. Environmental analysis
B. Organizational analysis
C. Industry analysis
D. Business analysis

Question. A company offers unique products that are widely valued by customers, it is likely to follow a:
A. Differentiation strategy
B. Combination strategy
C. Focus strategy
D. Cost-leadership strategy

Question. Innovation and quality can be seen as which form of management?
A. Marketing management
B. Financial management
C. Operations management
D. Human resource management

Question. Which of the following factors does not increase the bargaining power of a supplier?
A. Substitutability
B. Concentration of suppliers
C. A buyer is important to the supplier
D. High switching costs

Question. All of the following are key opportunities and threats in external environment because of political, government and legal forces except:
A. Tax rate
B. Social security program
C. Cross boarder relationship
D. Patent law

Question. Which of the following requires a firm to establish annual objectives, devise, policies, motivates employees and allocate resources for the execution of strategies?           
A. Strategy formulation
B. Strategy evaluation
C. Strategy implementation
D. Strategy estimation

Question. In Porter’s generic strategies model, a focus strategy involves
A. selling a limited range of products
B. selling to a narrow customer segment
C. selling to one region only
D. selling simple products that are cheap to produce

Question. The Reasons for diversification is:           
A. to reduce competition
B. to increase organizational capabilities
C. to get tax advantage
D. to get quick entry into a business

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