Quiz - Strategic Plan selected sections

7/25/2019 Quiz - Strategic Plan selected sections

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MGT603 Question # 1Which statement is CORRECT about strategic-managementprocess?

Select correct option:

It occurs once a yearIt is a continuous processIt applies mostly to large businessIt applies mostly to small businesses

RF !an"out #1 Strategic management is a on$going process %!ic! is in e&istencet!roug! out t!e li'e o' organi(ation

MGT603 Question # )Which of the following period strategic management wasconsidered to be cure for all problems?


Mi" 1*+0s to mi" 1*60sMid 1!"s to mid 1#"sMi" 1*,0s to mi" 1*-0sMi" 1*-0s to mi" 1**0s

RF !an"out #3 In 1*60 s an" ,0 it %as consi"er to be panacea 'orproblemsMGT603 Question # 3The mission statement answers which of thefollowing $uestion?


What is our business?.o% can %e impro/e oursel/es!at "o %e %ant to become!o are our sta2e!ol"ers RFStrategic management Fre" R 4a/i" internationale"ition page#*5

MGT603 Question # Intuition is based on all of the following factors E%CE&T'


ast e&periences7u"gments(ncertaintiesFeelings

RF !an"out #+ Intuition rests on:


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1. Past experiences

2. Judgment

3. Feelings

MGT603 Question # +Internal anal)sis in*ol*es gathering and anal)+ing the information about all areasof a firm E%&ECT'Select correct option:Researc! an" "e/elopmentManagement in'ormation systemMar2etingCompetitors

MGT603 Question # 6, desired future state that the organi+ation attempts to reali+e./ Identif) the termrele*ant to the gi*en statement/Select correct option:0oalStrategyolicyroce"ure

boo2s8google8com8p29boo2si"FG);


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Select correct option:Failing to in/ol/e 2ey employees in all p!ases o' planningIn*ol*ing all managers rather than delegating planning to a plannerTop managers not acti/ely supporting t!e strategic planning process4oing strategic planning only to satis'y accre"itation or regulatory reBuirements

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set an" a"ministere" "uring strategy implementation

MGT603 Question # 1) 5ollowing are the e6amples of the sectors that are moretechnologicall) oriented E%CE&T'Select correct option:

Te6tile!armaceuticalTelecommunicationse/erages

MGT603 Question # 135or the past four )ears the 7C Corporation has been planning to e6pand itsoperations in order to reach out to the world mar2et/ Essentiall)4 the 7CCorporation desires to do what?Select correct option:

ecome an online businessecome a bric2$n$mortar businessEmbrace globali+ationecome a clic2$n$mortar business

MGT603 Question # 1Which of the following is the first step in the controlling function of management?Select correct option:Ta2e correcti/e actionsRestrict brea2s employees ta2e

/aluate e&pense reportsEstablish performance standards

MGT603 Question # 1+Which of the following mar2eting entit) is 8OT an intermediar)?Select correct option:ro2ers

Agents&roducerOen"ors

MGT603 Question # 16

ll of the following fall under &ricing decisions E%CE&T'Select correct option:4iscounts?re"it termsMar2ups9ealer relationsRational: "ealer relation is inclu"ing t!e selling "ecision


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MGT603 Question # 1,Which of the following is best identified as a statement that presents ,a firm:s bigpicture statement4 describing a desired end-state4 general in scope4 and notrestricti*e.?Select correct option:

?orporate p!ilosop!y statement?ompany cree";ision statementMission statement

A /ision statement is sometimes calle" a big picture o' your company in t!e 'uture butitPs so muc! more t!an t!at8

MGT603 Question # 1-Which of the following are the fi*e forces that affect the le*el of competition in anindustr)?Select correct option:

Threat of entrants< power of bu)ers< power of suppliers< threat of substitutes; is oil an" gas pro"ucers as %ell as pro"ucers o' c!emicals

%D shall hire onl) those indi*iduals who ha*e with sufficient educational le*elsso as to be of benefit to our customers

T!e customers o' L>; s!all inclu"e global an" local consumers o' gas an" oil pro"uctsan" "omestic users o' nonto&ic c!emicals

T!e tec!nologies utili(e" by L>; s!all 'ocus upon "e/elopment o' alternati/e sources o'gas an" oil so as to remain competiti/e %it!in t!e in"ustry

MGT603 Question # 3Which of the followings deals with the management of inputs4 transformationsand outputs that *ar) across industries and mar2ets?


Mar2eting

Finance

Operation

4istribution

re'8 ro"uction9operations management "eals %it! inputs trans'ormations an" outputst!at /ary across in"ustries an" mar2ets8

MGT603 Question #

Which of the following statement applies to ;ision tatement?


9escribes the purpose of e6istence of an organi+ation


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I"enti'y t!e customers o' t!e organi(ation T!e 2ey measure or measures o' t!eorgani(ationPs success 4epict t!e /alues o' an organi(ation

MGT603 Question # +Which of the following is 8OT included in the strategic management model?


Measure an" e/aluate per'ormance8&erform internal research to identif) customers/stablis! long$term ob=ecti/es84e/elop mission an" /ision statements8

MGT603 Question # 6

What is the range for a firmAs total weighted score in an E6ternal 5actorE*aluation Matri6?


0 to +

0 to

1 to +

1 to B

re'8 total %eig!te" score 'or t!e organi(ation .ig!est possible %eig!te" score 'or t!eorgani(ation is 80 t!e lo%est 1808 A/erage )8+

MGT603 Question # ,

ll of the following are the broad categories of E6ternal forces E%CE&T'


conomic 'orces

ocioeconomic forces

Tec!nological 'orces

?ompetiti/e 'orces

re'8 &ternal 'orces can be "i/i"e" into 'i/e broa" categories: conomic 'orces Socialcultural "emograp!ic an" en/ironmental 'orces olitical go/ernmental an" legal'orces Tec!nological 'orces an" ?ompetiti/e 'orces8

MGT603 Question # -

Which of the following statements is 8OT correct about a mission statement?



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It contains t!e "e'inition o' t!e companyNs businessIt is called the picture

MGT603 Question # *Which one of the followings best describes this statement< ,The conditions that acompan) must satisf) in order to be able to enter an industr).?Select correct option:conomies o' scale7arriers to entr)4i''erentiation?ompetiti/e en/ironmentRe':!ttp:99!ig!ere"8mcgra%$!ill8com9sites900,30+))9stu"entJ/ie%09c!apter9multipleJc!oiceJB ui(8!tml

MGT603 Question # +0Which one of the following area can be the wea2ness of a firm?


?!anging li'estyle

.ig! oil prices

Ineffecti*e Mar2eting

Increasing pollution

re'8 can allo% an organi(ation to a/oi" substantial losses by re/ealing %ea2 pro"uctsan" ine''ecti/e mar2eting approac!es be'ore large$scale pro"uction begins8

MGT603 Question # +1

planned acti*it) aimed at disco*er) of new 2nowledge with the hope ofde*eloping new or impro*ed products and ser*ices and translation of its findingsinto a plan or design of new or impro*ed products and ser*ices is 2nown as'

Select correct option: Mar2eting

Research and de*elopment

ro"uction Management

in'ormation system

MGT603 Question # +)

8on-financial benefits of strategic management includes all of the followingE%CE&T'Select correct option: etter a%areness o' e&ternal t!reats


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n!ance" a%areness o' t!reatsRe"uce" resistance to c!angeIncrease in sales


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MGT603 Question # +6ssessment of competiti*e ri*alr) does 8OT include an understanding of whichof the following?Select correct option:Mergers an" acBuisition in in"ustry

Mar2et gro%t! rates&it barriers an" operational e''iciency o' competitorThe management structure of an organi+ation

MGT603 Question # +,

Which one of the following dimensions is 8OT a recommended component of amission statement?


Sel'$concept

Mar2etstrategies

?ustomers

re'8 ?omponents o' a Mission Statement 18 ?ustomers: )8 ro"ucts or ser/ices: 38Mar2ets: 8 Tec!nology: +8 ?oncern 'or sur/i/al gro%t! an" pro'itability: 68 !ilosop!y:,8 Sel'$concept: -8 ?oncern 'or public image: *8 ?oncern 'or employees:

MGT603 Question # +-

Rehman industries are anal)+ing the technological forces for the firm which ma)pro*ide it opportunities and threats for which of the following stages of strategic

management process?


trateg) formulation

Strategy implementation

Strategy e/aluation

All o' t!e gi/en options

re'8Tec!nological 'orces represent ma=or opportunities an" t!reats t!at must beconsi"ere" in 'ormulating strategies8

MGT603 Question # +*The organi+ations that conduct business operations across national borders are2nown as which of the following?Select correct option:4omestic 'irmsMultinational corporations


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arent companiesFranc!ises


, 0ood mission statement identifies the utilit) of a firm:s products to its

customers.9 budgetallocation E%CE&T:



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Financing as many pro=ects as possible

sing percentage$o'$sales met!o"

7udgeting irrelati*e to competitors

4eci"ing !o% many success'ul ne% pro"ucts are nee"e"

Four approac!es to "etermining R@4 bu"get allocations commonly are use":

15 Financing as many pro=ect proposals as possible

)5 sing a percentage$o'$sales met!o"

35 u"geting about t!e same amount t!at competitors spen" 'or R@4 or

5 4eci"ing !o% many success'ul ne% pro"ucts are nee"e" an" %or2ing bac2%ar" toestimate t!ereBuire" R@4 in/estment8


5inancial ratios are helpful in anal)+ing the relationship among which of thefollowing?


All assets an" liabilities

ro'its an" costs

ll functional areas of business

Sales an" pro'itability1

Re': age no8 +1Financial ratio analysis e&empli'ies t!e comple&ity o' relations!ipsamong t!e 'unctional areas o' business8

Quiz - Strategic Plan selected sections

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