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Management
Strategic Management
Quiz 5
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Q.1
Which of the following is not a factor in the positioning of an organization in an industry?
Competitive advantage
Rate of growth
Market share
Size
Q.2
The strategic management process is
a set of activities that is guaranteed to prevent organizational failure
a process concerned with a firms resources, capabilities, and competencies, but not the conditions in its external environment
a set of activities that to date have not been used successfully in the not-for-profit sector
a dynamic process involving the full set of commitments, decisions, and actions related to the firm
Q.3
Organizations require good people with appropriate skills and abilities to work together effectively to be successful. Which of the following characteristics is not seen as critical for this?
Competent
Committed
Cost-effective
Capable
Q.4
The process of developing a mission statement includes which of these as the first activity?
A request to modify the current document
Ask managers to read selected articles about mission statements
Ask managers to prepare a mission statement for the organization
A merging of several mission statements into one document
Q.5
Which of the following is a skill required by organizations to deal with competitive chaos?
The ability to share information among all managers
The ability to operate efficiently and effectively
The ability to discern patters in the dynamic environment and competitive chaos, and spot opportunities ahead of rivals
The ability to benchmark competitors
Q.6
What can be used to promote unbiased views and to manage the development of the mission and vision statement more effectively?
an internal group
a committee of managers
command-and-control
a facilitator
Q.7
Strategic stretch involves:
The fit between the organisation and its environment
Creating new opportunities by stretching and exploiting capabilities in new ways
The skills of the senior management
Utilising all the resources of an organisation to their full capacity
Q.8
The purpose of a mission statement is to declare all of these except
a reason for being
an annual financial plan
a statement of purpose
a statement of beliefs
Q.9
Which of the following is not a characteristic of the Internet?
Provides information
Facilitates communication
Provides competitive advantage
Enables electronic trading
Q.10
Information is defined by Lucas (1976) as
some tangible or intangible entity that creates certainty about a state or event
some tangible or intangible entity that reduces uncertainty about a state or event
some tangible or intangible entity that leads to understanding
some tangible or intangible entity that leads to knowledge
Q.11
Good mission statements identify the ______ of a firms products to its customers
utility
price
profit margin
demand
Q.12
Heller (1998) suggested organizations must address seven key issues effectively to sustain competitive advantage. Which of the following is not one of those issues?
Effectiveness
Innovation
Costs
Speed
Q.13
Hard human resource management assumes which of the following?
Employees are more productive when they are better informed
Employees are more productive if they are committed to the organization
Employees are resources to be used effectively in the search for competitive advantage
Employees have to be trusted to make correct decisions
Q.14
Strategic mission
is a statement of a firms unique purpose and scope of operations
is an internally-focused affirmation of the organization's societal and ethical goals
does not limit the firm by specifying the industry in which the firm intends to compete
is developed by a firm before the firm develops its strategic intent
Q.15
Which of the following is a characteristic of a customer-driving organization?
Innovative
Conservative
Responsive
Unresponsive
Q.16
An effective mission statement is all of the following except
It reflects judgments about future growth directions that are based upon forward-looking external and internal analyses
It provides useful criteria for selecting among alternative strategies
It provides a basis for generating and screening strategic options
It is static in orientation
Q.17
What are core competences?
Resources which critically underpin competitive advantage and that others cannot obtain
Activities and processes needed to meet customers' minimum requirements and therefore to continue to exist
Key skills required for success in a particular business
Activities that underpin competitive advantage and are difficult for competitors to imitate or obtain
Q.18
Best in Class Benchmarking seeks to assess organisational performance against:
The nearest geographical competitor
The competitor who is 'best in class' wherever that may be
The competitor who is the best in the industry
The nearest principal competitor
Q.19
As indicated in the strategic-management model, a clear _______ is needed before alternate strategies can be formulated and implemented.
long-term objective
short-term objective
policy
mission statement
Q.20
Which one of the following criteria does not provide a means to assess strategic resources?
Sustainability
Scarcity
Inimtability
Synergy
Q.21
The _______________ has its own business strategy, objectives and competitors and these are often differ from parent company
Strategic Business Unit structure
Matrix structure
Divisional structure
None of given option
Q.22
Which of the following is not an example of a managerial mindset?
Analytic
Reflective
Competent
Co-operative
Q.23
Job titles that refer to strategists include which of the following?
External audit
Owner, entrepreneur, executive director, and accountant
Chief executive officer, salesman, dean, and lawyer
Owner, dean, president, and executive director
Q.24
Relative deficiency or superiority is important information in performing which activity?
External audit
Allocating resources
Internal audit
Evaluating strategies
Q.25
Effective mission statements can vary in
length
content
format
all of the above
Q.26
Which of these is a characteristic of soft human resource management?
Managers are responsible for employees
Teams provide increased productivity
Managers are responsible for deploying employees
Scientific management principles and systems should be used to deal with employees
Q.27
Cost efficiency is determined by which of the following drivers?
Supply Costs, Experience, Product/Process Design and Economies of Scale
Supply Costs & Economies of Scale
Product/Process Design and Economies of Scale
Experience
Q.28
The three stages of strategic management are
strategy formulation, strategy implementation, and strategy execution
strategy formulation, strategy execution, and strategy assessment
strategy formulation, strategy implementation, and strategy evaluation
stratify assessment, strategy execution, and strategy evaluation
Q.29
Innovation and quality can be seen as which form of management?
Marketing management
Financial management
Operations management
Human resource management
Q.30
The vision and mission statement can often be found
in the SEC report
in annual reports
on customer receipts
on supplier invoices
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