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Management
Strategic Management
Quiz 3
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Q.1
______________ is called as a bundle of resources
Industry
Unit
Organization
Management
Q.2
Which of the following is not en element of the growth/market options matrix developed by Ansoff (1987)?
Market development
Diversification
Product development
Market segmentation
Q.3
Sound strategic choices will always address four issues. Which of the following is one of those reasons?
Availablility of resources
Strategic thinking
Strategic fit
Financial returns
Q.4
___________ is also known as corporate appraisal, appraisal of internal factors and audit of organizational competence
Organizational analysis
Environmental analysis
Industry analysis
Business analysis
Q.5
The understanding of what key element is essential for successful strategic planning?
Understanding the needs and expectations of stakeholders
Understanding competencies
Understanding the processes of strategic change
Understanding how to plan
Q.6
________ is a widely used framework to summarize a company's situation or current position
SWOT analysis
TOWS matrix
Ansoff's matrix
BCG matrix
Q.7
What is top-down planning?
This takes place in someone's head, and the decisions may not be written down in any extensive form It is often practiced by entrepreneurial managers with real flair
This requires managers to spend time discussing the future opportunities and threats and areas in which the organization might develop
This involves managers throughout the organization, and ensures that everyone involved in implementing plans will be consulted
This relates to decisions taken at the higher parts of the organization and passed onto other managers for implementation These managers will have had little or no input into the planning process
Q.8
Which of the following is true for small businesses in relation to strategic planning?
It is too expensive
It belongs in all organizations
It only belongs in large organizations
The benefits are too long term
Q.9
What or who are Reactors?
Innovative and entrepreneurial organizations
Organizations which follow industry trends
Conservative and low risk organizations
Organizations with limited change and measured steps
Q.10
Name one of the strategic pressures that could weaken an unprepared organization?
Exploitation of opportunities
Lax controls that indulge flexibility
Adaptation along the strategic path
Too many controls at the expense of flexibility
Q.11
The first of Porters Five Forces model is the
Intensity of rivalry among industry competitors
Threats of new entrants
Bargaining power of suppliers
Bargaining power of buyers
Q.12
Which of the following would a market-driven business most likely be?
Competitive
Efficient
Flexible
Resourceful
Q.13
What does SPACE stand for?
Sales, Position, and ACtion Evaluation
Strategic Profit And Credit Evaluation
Sales, Profit, ACtion and Evaluation
Strategic Position and ACtion Evaluation
Q.14
Which of these statements best describes all the benefits a company can derive from analyzing its financial performance?
It can make comparisons with competitors, reveal lost profit and growth potential, emphasize possible dangers and enable a study of trends and progress
It can make comparisons with competitors, reveal lost profit and growth potential and isolate neglected market sectors
It can reveal lost profit and growth potential, emphasize possible dangers and isolate neglected market segments
It can make comparisons with competitors, reveal lost profit and growth potential and reveal possible trends in the development of the company's share price
Q.15
According to Schein (1985), what are the levels that make up a company's culture?
Artifacts, values, underlying assumptions, and behaviors
Artifacts, values, and underlying assumptions
Artifacts, communications, underlying assumptions, and behaviors
Values, communications, and underlying assumptions
Q.16
When a company is experiencing an economic recession this is a good time to do what?
Reduce costs and assets
Refocus
Simplify
Invest
Q.17
Which of the following is not a key planning element of spheres of influence?
Buffer zones
Forward positions
Cost base
Vital interests
Q.18
____________ assesses the whole strategic management process
Strategic audit
Company audit
Business audit
None of the above
Q.19
_________________ is the process through which an organization evaluates its capability so as to have competitive advantage at market place
Environmental analysis
Organizational analysis
Industry analysis
Business analysis
Q.20
___________ involves surveillance of a firm's external environment to predict environmental changes to come and detect changes already under way
Environmental scanning
Environmental monitoring
Competitive intelligence
Environmental forecasting
Q.21
Kets de Vries (1996) suggested strategic leaders have two key roles to play. Which two roles are they?
Transformational and Effective
Charismatic and Effective
Transformational and Charismatic
Charismatic and Architectural
Q.22
_____________ involves the development of projections about the direction, scope, speed and intensity of environmental change
Environmental scanning
Environmental monitoring
Competitive intelligence
Environmental forecasting
Q.23
__________ refers to the ability of buyers to bargain down prices charged by firms in the industry or driving up the costs of the firm by demanding better product quality and service
Bargaining power of suppliers
Threats of new entrants
Bargaining power of buyers
Threat of substitute products
Q.24
In military analogy, what is the outcome if in strategy creation the organization has both capability and intent?
Capacity
Credibility
Emergent strategy
Intended strategy
Q.25
What is the key variable in executing visionary strategy creation at the competitive strategy level?
Seizing the opportunities presented
Formalized planning
Innovation
Learning
Q.26
________ are external forces affecting organizations
Technological forces
Political forces
Economic forces
All of the above
Q.27
According to Sir Allen Shepherd what is the task of corporate leadership?
To apply energy and judgement to the corporate culture to ensure its relevance
To apply energy and judgement to the corporate culture to ensure its stability
To apply energy and judgement to the corporate culture to ensure its continuity
To apply energy and judgement to the corporate culture to ensure its productivity
Q.28
____________ refers to the strategies and counter strategies of a firm that compete in a shared market place
Retrenchment strategy
Competitive gaming
Business strategy
Corporate strategy
Q.29
____________ is also referred to as external strategic management audit
Organizational analysis
Environmental analysis
Industry analysis
None of the above
Q.30
What is an emergent strategy?
One with clear objectives leading to a clear strategy
One with no specific objectives, that is fully flexible, using opportunism to seize the main chance at the right moment
One with a formal approach to adaptive strategy creation, so that in a turbulent environment objectives and strategies can be adjusted
One that has a clear mission and directional objectives but that also recognizes the need for flexibility
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