Strategic Management

20 Questions  I  By Vijaynegi
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Strategic Management Quizzes & Trivia
Multiple Choice Questions: Strategic Management

  
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Questions and Answers

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1.  All of the following are elements of the strategy diamond except
A.
B.
C.
D.
2.  Which one is not a part of strategy formulation?
A.
B.
C.
D.
3.  The two most critical questions that __________ strategy must address are how a company will achieve its objectives today, when other firms may be competing to satisfy the same customer's needs and how the firm plans to compete in the future.
A.
B.
C.
D.
4.  Within the strategy diamond ______ refer(s) to decisions about the areas in which a firm will be active including its products, services, distribution channels, market segments, geographic areas, technologies, and even stages of the valuecreation process
A.
B.
C.
D.
5.  The term strategic planning refers only to strategy formulation.
A.
B.
6.  ________ is the process by which a firm manages the formulation and implementation of its strategy.
A.
B.
C.
D.
7.  Which of these requires a firm to establish annual objectives, devise policies, and allocate resources?
A.
B.
C.
D.
8.  The problem of limited resources within a firm makes ______________ particularly important as the firm decides how to allocate its resources.
A.
B.
C.
D.
9.  The five elements of the strategy diamond are technologies, vehicles, differentiators, staging, and economic logic.
A.
B.
10.  Anything that a firm does especially well compared to rival firms is referred to as:
A.
B.
C.
D.
11.  All of these are pitfalls an organization should avoid in strategic planning except:
A.
B.
C.
D.
12.  The process of conducting research and gathering and assimilating external information is called:
A.
B.
C.
D.
13.  Which is not a part of international strategy lifecycle?
A.
B.
C.
D.
14.  Which of the following statements regarding strategy formulation and strategy implementation is the most accurate?
A.
B.
C.
D.
15.  Which is not a part of strategy implementation?
A.
B.
C.
D.
16.  Which of the following is not one of the three fundamental questions addressed by corporate strategy?
A.
B.
C.
D.
17.  A disadvantage of international operations is:
A.
B.
C.
D.
18.  __________ are the individuals who are most responsible for the success or failure of an organization.
A.
B.
C.
D.
19.  The action stage of strategic management is called strategy formulation.
A.
B.
20.  The term _________ is used to refer to strategy formulation, implementation, and evaluation, with _________referring only to strategy formulation.
A.
B.
C.
D.
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