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Management
Strategic Management
Quiz 8
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Q.1
How many cells are in a SWOT matrix?
9
6
3
2
Q.2
Which of the following is not a recognized element of corporate strategy?
Competitive advantage
Closure
Acquisition
Divestment
Q.3
__________ refers to the purposes an organization strives to achieve
Strategic Intent
Strategic Formulation
Strategic Implementation
Strategic Control
Q.4
__________ strategy may require a firm to redefine its business and may involve divestment of a major product line or an SBU, abandon some markets or reduce its functions
Expansion Strategy
Retrenchment Strategy
Combination Strategy
Stability Strategy
Q.5
Which of the following statements is false? Formal strategic planning
implies determined actions for achieving objectives
is a time consuming process
should develop clear and rigid plans for the organization to implement
is most applicable in stable environments
Q.6
Corporate governance is concerned with:
Executive remuneration, disclosure of information, auditing and accounting procedures, and organizations' management structures
Elections to the board of directors
Relationships with national governments
Corporate-level strategy
Q.7
The slowest way to grow a business is likely to be through:
A merger
outsourcing
Internal development
A strategic alliance
Q.8
Which of the following statements best describes the concept of strategic awareness?
Managers understanding of the organizations history, competencies, and current strategy
Managers understanding of current strategy and its effectiveness
Managers understanding of the strategic options available to the organization
Managers understanding the organizations strategy, its effectiveness
Q.9
When does horizontal integration occur?
When a firm acquires or merges with a major competitor
When a firm acquires or merges with a an unrelated business
When a firm acquires or merges with a distributor
When a firm acquires or merges with a supplier firm
Q.10
Divestment is what kind of strategy?
An asset-reduction strategy
A weakness-reduction strategy
A product-reduction strategy
A cost-reduction strategy
Q.11
Analysing the ext environment and the organisations resources are part of the:
Functional level planning process
Determining the mission of the business
Financial planning process
Strategic planning process
Q.12
Which of the following is not one of Porters five competitive forces?
Bargaining power of suppliers
Threats of new entrants and barriers to entry
Threats of technological advances
Threats of substitutes
Q.13
Which would be classified as a stakeholder?
Communities
Banks
Suppliers
Communities Banks Suppliers
Q.14
an organisation increases its sales through greater marketing efforts, and expands its workforce and production capacity to cope with the increase in demand for its product, it is following a growth strategy in which growth is achieved through:
Unrelated diversification
Acquisition
Merger
Direct expansion
Q.15
the sketch of the BCG matrix, what is the label of the vertical axis?
Market growth rate
Business strength
Market share
Industry growth rate
Q.16
What is the purpose of an activity map?
A system to facilitate better time-planning
It is used in business process reengineering to show how the different activities of an organisation are linked together
It is used to identify and understand strategic capability by mapping how the different activities of an organisation are linked together
A list of activities undertaken by an organisation
Q.17
__________ strategy is often considered as entrepreneurial strategy where firm develops and introduce new products and markets or penetrate markets to build share
Expansion Strategy
Retrenchment Strategy
Combination Strategy
Stability Strategy
Q.18
The value chain is subdivided into two main headings. These are primary activities and:
Peripheral activities
Support activities
Secondary activities
Outsourced activities
Q.19
A joint venture can be defined as:
Two firms collaborate together on a specific project
One firm licenses its intellectual property to another firm
Two firms merge together
Two firms come together to form a third, legally separate firm
Q.20
___________ are short-term milestones or benchmarks that organizations must achieve in order for longer term objectives are to be reached
Vision
Mission
Plans
Goals
Q.21
What is the recommended length of an effective mission statement?
One page
Less than 200 words
One sentence of 10 to 20 words
There is no recommendation It can be as long as the management wants
Q.22
Which type of strategies are of particular importance to global companies?
Corporate
Functional
Competitive
Corporate and competitive
Q.23
Sustained survival implies
that a turnaround is achieved but there is little further growth
that a turnaround is achieved and there is potential for further growth
that a turnaround is achieved and there is a clear opportunity to employ a new growth strategy
that a turnaround is achieved and it is appropriate to diversify soon
Q.24
In which of the following scenarios is a joint venture likely to be more attractive than acquisition?
Horizontal integration
Vertical integration
New market entry
Larger resource pool
Q.25
McDonalds is deciding whether to expand into manufacturing kitchen equipment in China. At what level is this decision likely to be made?
Business
Corporate
Functional
International
Q.26
Strategic business units
Are found in one-business organisations
Carry out strategies assigned by the CEO
Develop their own unique way of competing
Implement the marketing function's strategic planning and management decisions
Q.27
Marketing current products with possible modifications and range increases is also known as what?
Retrenchment
Market penetration
Product development
Market development
Q.28
According to the BCG matrixSBU comprising products in an attractive industry but representing little market share would be referred to as:
A cash cow
A star
A dog
A question mark
Q.29
A company offers unique products that are widely valued by customers, it is likely to follow a:
Differentiation strategy
Combination strategy
Focus strategy
Cost-leadership strategy
Q.30
Industry/sector benchmarking compares:
Organisational performance between firms/public sector organisations in different industries or sectors
Organisational performance between firms/public sector organisations in the same industry or sector
Organisational performance between firms/public sector organisations in different countries
Organisational performance between different divisions of the firm
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