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3.1 Business Environment and Strategy (BES) (Section - B)

Introduction to Strategic Management

10 Unit : Practice Multiple Choice Questions (MCQs)

Submissions
Here are your latest answers:

Question 1
SWOT stands for

Response: Special Weapons for Operations Timeliness

Correct answer: Strengths, Weaknesses, Opportunities, and Threats

Score: 0 out of 1 No

Question 2
Which of the following is NOT a key component of strategic management?

Response: Evaluating strategy

Correct answer: Evaluating strategy

Score: 1 out of 1 Yes

Question 3
The following are the many organisational routines and procedures that influence how efficiently and effectively the organisation turns its
inputs into outputs:

Response: Strengths

Correct answer: Core competencies

Score: 0 out of 1 No

Question 4
The mission statement of an organisation’s primary goal is which one of the following?

Response: Define the organisation’s purpose in society

Correct answer: Define the organisation’s purpose in society

Score: 1 out of 1 Yes

Question 5
Which of the following is a factor that is taken into account while formulating business strategies?

Response: What direction are we going?

Correct answer: What resources do we have to implement our strategies?

Score: 0 out of 1 No

Question 6
Which among the following is the cornerstone of a successful blue ocean strategy?

Response: Value innovation

Correct answer: Value innovation

Score: 1 out of 1 Yes

Question 7
Which of the following is not a distinguishing feature of strategic management above other styles of management?

Response: It has an external focus.

Correct answer: It concerns the present direction of the organisation.

Score: 0 out of 1 No

Question 8
The underlying reason for each organisation’s existence is defined by which of the following?

Response: Mission

Correct answer: Mission

Score: 1 out of 1 Yes

Question 9
The most crucial thing to remember when defining strategic management is that it is:

Response: Mainly the province of senior managers

Correct answer: More conceptual than practical

Score: 0 out of 1 No

Question 10
The following is the greatest way to describe competitive advantage:

Response: Increased efficiency

Correct answer: Increased efficiency

Score: 1 out of 1 Yes