10/14/2020 Unit Test I 301 Strategic Management

Unit Test I 301 Strategic Management

Total points 19/20

Email address *

shubhamargade210@gmail.com

What is Your Name? *

Shubham Diwakar Argade

Which is Your institute? *

ZCoER

1) In strategic thinking, how long is the long term, approximately? * 1/1

1 to 12 months

1 to 5 years

More than 5 years

less than 5 year

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10/14/2020 Unit Test I 301 Strategic Management

2) The strategy of TATA Motors would be: * 1/1

a) Functional Strategy

b) Corporate Strategy

c) Business Strategy

d) both b and c

3) Growth, retrenchment and stability are examples of 1/1

__________________? *

a) Corporate strategies

b) Business Strategies

c) Functional Strategies

d) both a and c

4) The word tactic is most likely to be associated with: * 1/1

a) Corporate strategy

b) Business Strategy

c) Operational Strategy

d) both a and b

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5) Developing a vision and mission, identifying an organization's external 1/1

opportunities and threats, and determining internal strengths and
weaknesses are all __________ activities. *

a) strategy-formulation

b) strategy-implementation

c) long-range planning

d) short-range planning

6) The _________ answers the question "What do we want to become?" 1/1

whereas _________answers the question "What is our business?" *

a) Vision statement; mission statement

b) Short-term objectives; long-term objectives

c) Objectives; strategies

d) Mission; vision

7) What is the recommended length of an effective mission statement? * 1/1

a) One page

b) Less than 200 words

c) One sentence of 10 to 20 words.

d) There is no recommendation.

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8) Which one of these is NOT a __________ part of Porter's competitive 1/1

forces in industry analysis? *

a) Potential entry of new competitors

b) Bargaining power of suppliers

c) Development of substitute products

d) Threat of substitute products and services

9) __________ is adding new, unrelated products or services for present 1/1

customers. *

a) Concentric diversification

b) Horizontal diversification

c) Conglomerate diversification

d) Product development

10) Which of the following is not a limitation of SWOT (Strengths, 1/1

Weaknesses, Opportunity, Threats) analysis? *

a) Organizational strengths may not lead to competitive advantage

b) SWOT gives a one-shot view of a moving target

c) SWOT's focus on the external environment is too broad and integrative

d) SWOT overemphasizes a single dimension of strategy

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11) A marketing department that promises delivery quicker than the 1/1
production department's ability to produce is an example of a lack of
understanding of the *

a) Synergy of the business units.

b) Need to maintain the reputation of the company.

c) Organizational culture and leadership.

d) Interrelationships among functional areas and firm strategies.

12) Which of the following lists is comprised of support activities: * 1/1

a) human resource management, information systems, procurement, and firm's

infrastructure

b) customer service, information systems, technology development, and

procurement

c) Human resource management, technology development, customer service, and

procurement

d) human resource management, customer service, marketing and sales, and

operations

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13) The competencies or skills that a firm employs to transform inputs 1/1
into outputs are: *

a) Tangible resources.

b) Intangible resources.

c) Organizational capabilities.

d) Reputational resources.

14) The "balanced scorecard" supplies top managers with a _____________ 1/1
view of the business. *

a) long-term financial

b) detailed and complex

c) simple and routine

d) fast but comprehensive

15) The "advance work" in the strategic management process is 1/1

comprised of *

a) Strategy formulation.

b) Strategy implementation.

c) Strategic posturing.

d) Strategy analysis.

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16) Members of an organization's board of directors should, while 1/1

working to prioritize and fulfill their responsibilities, *

a) Direct all actions of the CEO.

b) Emphasize the importance of short-term goals.

c) Represent their own interests.

d) Represent the interests of the shareholders.

17 . Vision statements are used to create a higher understanding of the 1/1

organization's overall direction and purpose. Vision statements *

a) Provide specific objectives.

b) Are very specific.

c) Evoke powerful and compelling mental images.

d) Set organizational structure.

18) The bargaining power of the supplier is less than that of the buyer, 1/1
when *

a) Volume of purchase is low.

b) The buyer's profit margin is low.

c) Cost savings from the supplier's product are minimal.

d) Threat of backward integration by buyers is low.

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19) As seen in Porter's Five Forces model, conditions under which a 1/1
supplier group can be powerful include all the following except *

a) Lack of importance of the buyer to the supplier group.

b) High differentiation by the supplier.

c) Readily available substitute products.

d) Dominance by a few suppliers.

20) The most extreme rivalry results from * 0/1

a) A high level of differentiation.

b) Few competitors, slow industry growth, lack of differentiation, high fixed or

storage costs.

c) Numerous equally balanced competitors, manufacturing capacity increases

only in large increments, low exit barriers.

d) Numerous equally balanced competitors, slow industry growth, high fixed or

storage costs.

Correct answer

d) Numerous equally balanced competitors, slow industry growth, high fixed or

storage costs.

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