Strategic Management
M.COM PART 1
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150 + Importance Strategic Management MCQ PDF
Strategic Management
1)
https://www.surajpateleducation.com/2021/04/strategic-management-mcq-pdf.html
2)
https://www.surajpateleducation.com/2021/01/strategic-management-mcom-part-1.html
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https://www.surajpateleducation.com/2020/11/strategic-management-mcom-part-1-mcq-pdf.html
1. When an industry relies heavily on government contracts, which forecasts can be the most important part of an external audit.
a. economic
b. political
c. technological
d. competitive
e. Multinational
Ans. B
2. The goal of the organization’s__________ is to capture the hearts and minds of employees, challenge them, and evoke their emotions and dreams.
a. vision
b. mission
c. culture
d. strategy
Ans. A
3. A firm’s mission
a. is a statement of a firm’s business in which it intends to compete and the customers which it intends to serve.
b. is an internally-focused affirmation of the organization’s financial, social, and ethical goals.
c. is mainly intended to emotionally inspire employees and other stakeholders.
d. is developed by a firm before the firm develops its vision.
Ans. A
4. The environmental segments that comprise the general environment typically will NOT include
a. demographic factors.
b. sociocultural factors.
c. substitute products or services.
d. technological factors.
Ans. C
5. According to Greenley, strategic management offers all of these benefits except that
a. it provides an objective view of management problems.
b. it creates a framework for internal communication among personnel.
c. it encourages a favorable attitude toward change.d. it maximizes the effects of adverse conditions and changes.
d. it gives a degree of discipline and formality to the management of a business.
Ans. D
6. A strategy is a company’s
a. Value statement
b. Pricing policy
c. Game Plan to outsmart competitor
d. Long-term objective
Ans. C
7. Strategy-formulation concepts and tools
a. Do not differ greatly for different size and type of organizations
b. Differ greatly for different size and type of organizations
c. Do not differ greatly for profit or nonprofit organizations but differ in small and large organizations
d. None of the mentioned options
Ans. A
8. Annual objectives
a. Are not critical to success
b. Serve as guidelines for action, directing and channeling efforts and
activities of organization members
c. Are not important for employee motivation and identification
d. Do not provide a basis for organizational design
Ans. B
9. Annual objectives
a. Need not to be consistent
b. Should be easily achievable
c. Should be measurable
d. Should be confidential and not to be communicated throughout the organization
Ans. C
10. Which of the following resources is used by all organizations to achieve desired objectives?
a. Financial resources,
b. Physical resources,
c. Human resources
d. All of the mentioned options
Ans. D
11. Which group would be classified as a stakeholder?
a. Communities
b. Banks
c. Suppliers
d. Employees
e. All of the given options
Ans. E
12. Typically how many strategic decision levels are in the corporate decisionmaking hierarchy?
a. 3
b. 4
c. could be more than 5
d. 2
Ans. A
13. Which type of trend can be exemplified by the increasing numbers of twoincome households in a society?
a. Social
b. Economic
c. Cultural
d. Technological
Ans. B
14. External assessment is performed in which of the strategic management phase?
a. Strategy formulation stageb. Strategy implementation stage
c. Strategy evaluation stage
d. All of the given options
Ans. A
15. Political variables have a significant effect on
a. Strategy formulation and implementation
b. Strategy formulation and evaluation
c. Strategy implementation and evaluation
d. Strategy formulation, implementation and evaluation
Ans. A
16. Strategic decisions ostensibly commit the firm for
a. 1 -2 years
b. The short term
c. one years
d. A long time, typically five years
Ans. D
17. Social responsibility is a critical consideration for a company’s strategic decision makers since
a. Stockholders demand it
b. The mission statement must express how the company intends to
contribute to the societies that sustain it
c. It increases a company’s profits
d. It helps make decisions
Ans. B
18. The corporate level is where top management directs:
a. all employees for orientation
b. its efforts to stabilize recruitment needs
c. overall strategy for the entire organization
d. overall sales projections
Ans. C
19. The three organizational levels are:
a. corporate level, business level, functional level
b. corporate level, business unit level, functional levelc.
c. corporate strategy level, business unit level, functional level
d. corporate strategy level, business level, specialist level
Ans. A
20. An analysis of the economic segment of the external environment would include all of the following EXCEPT
a. interest rates.
b. international trade.
c. the strength of the U.S. dollar.
d. the move toward a contingent workforce.
Ans. D
21. Product differentiation refers to the:
a. ability of the buyers of a product to negotiate a lower price.
b. response of incumbent firms to new entrants.
c. belief by customers that a product is unique.
d. fact that as more of a product is produced the cheaper it becomes per unit.
Ans. C
22. Which of the following is NOT an entry barrier to an industry?
a. expected competitor retaliation
b. economies of scale
c. customer product loyalty
d. bargaining power of suppliers
Ans. D
23. Switching costs refer to the:
a. cost to a producer to exchange equipment in a facility when new
technologies emerge.
b. cost of changing the firm’s strategic group.
c. one-time costs suppliers incur when selling to a different customer.
d. one-time costs customers incur when buying from a different supplier.
Ans. D
24. What are the means by which long-term objectives will be achieved?
a. Strategies.
b. Strengths.
c. Weaknesses.
d. Policies.
e. Opportunities.
Ans. A
25. Which of these basic questions should a vision statement answer?
a. What is our business?
b. Who are our employees?
c. Why do we exist?
d. What do we want to become?
e. Who are our competitors?
Ans. D
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