10/16/23, 3:33 PM PRELIM EXAM: Attempt review

Home / My courses / UGRD-MGT6370A-2313T / PRELIM EXAM / PRELIM EXAM

Started on Monday, 16 October 2023, 2:29 PM

State Finished
Completed on Monday, 16 October 2023, 3:32 PM
Time taken 1 hour 3 mins
Marks 50.00/50.00
Grade 100.00 out of 100.00

Question 1
Complete

Mark 2.00 out of 2.00

Which is not an element of Strategy Formulation?

Select one:
Mission and Vision

Objectives and internal analysis

People and leadership

Your answer is correct.

Question 2
Complete

Mark 1.00 out of 1.00

Strategy provides some framework for guiding organizational thinking

and action.

Select one:
True

False

Question 3
Complete

Mark 1.00 out of 1.00

Comes from the Greek word "strategos", which refers to a military general.

Answer: Strategy

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Question 4

Complete

Mark 4.00 out of 4.00

SWOT stands for ?

Answer: Strength, weaknesses, opportunities, threats

Question 5
Complete

Mark 1.00 out of 1.00

Creating competitive advantage through effective management of the strategy-making process.

Select one:
Strategic Planning

Strategic Leadership

Strategy Effectiveness

Your answer is correct.

Question 6

Complete

Mark 1.00 out of 1.00

Which is not a Pitfall in Strategic Planning?

Select one:

Too hastily moving from mission development to strategy formulation

Using strategic planning to gain control over decisions and resources

It allows fewer resources and less time to be devoted to correcting erroneous or ad hoc decisions.

Your answer is correct.

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Question 7

Complete

Mark 1.00 out of 1.00

Which of the following is not a major attribute of strategic intent?

Select one:
Sense of Destiny

Sense of Direction

Sense of Awareness

Your answer is correct.

Question 8
Complete

Mark 1.00 out of 1.00

Some firms do not do strategic planning because some may think that if a firm is successful, individuals may feel there is no need to
plan because things are fine as they stand.

Select one:
True

False

Question 9
Complete

Mark 1.00 out of 1.00

Anything that a firm does especially well compared to rival firms is referred to as?

Answer: Competitive Advantage

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Question 10

Complete

Mark 1.00 out of 1.00

Statement of how employees should conduct themselves and their business to help achieve the company mission.

Select one:
Good Moral

Mission

Values

Your answer is correct.

Question 11
Complete

Mark 1.00 out of 1.00

Goals are the end results that the organization attempts to achieve.

Select one:
True

False

Question 12
Complete

Mark 3.00 out of 3.00

What are the three major components in Strategic Management?

Answer: Strategy Formulation, Strategy Implementation, Strategy Evaluation

Question 13
Complete

Mark 1.00 out of 1.00

Igor Chandler is the Father of Strategic Management.

Select one:
True

False

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Question 14

Complete

Mark 1.00 out of 1.00

It is designed to help potential shareholders and investors understand the purpose of the company.

Answer: Mission Statement

Question 15
Complete

Mark 1.00 out of 1.00

Putting Strategy into action.

Select one:
Strategy formulation

Strategy Implementation

Strategy Evaluation

Your answer is correct.

Question 16
Complete

Mark 1.00 out of 1.00

The action stage of strategic management is called strategy formulation.

Select one:
True

False

Question 17
Complete

Mark 1.00 out of 1.00

Set of related actions that managers take to increase their company's performance.

Answer: Strategy

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Question 18

Complete

Mark 1.00 out of 1.00

The systematic analysis of the factor associated with customers and competitors and the organization itself to provide the basis for
maintaining optimum management practices.

Select one:
A. Scientific Management

B. Strategic Management

C. Systematic Management

Your answer is correct.

Question 19
Complete

Mark 1.00 out of 1.00

Only verifiable objectives can be meaningfully used in strategic management.

Select one:
True

False

Question 20

Complete

Mark 1.00 out of 1.00

It is an objective that seeks to attain in reality.

Answer: Operative Objective

Question 21
Complete

Mark 1.00 out of 1.00

It refers to the actions that managers have to take or do in order to

ensure that what has been set in the objective can be achieved.

Answer: Strategy

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Question 22

Complete

Mark 1.00 out of 1.00

It seeks to explain the business undertaken by the firm, with respect to the customer needs, target audience, and alternative
technologies.

Answer: Business Definition

Question 23

Complete

Mark 1.00 out of 1.00

It is the dream of the business and an inspiration, base for the planning process.

Answer: Vision

Question 24
Complete

Mark 1.00 out of 1.00

The quality of the objectives can be judge on the basis of its ability to give scientific direction.

Select one:
True

False

Question 25
Complete

Mark 1.00 out of 1.00

It states that Strategic Intent is differentiated because here in this case the employees are allied and they are convinced about the
concept of Strategic Intent.

Select one:
Sense of discovery

Sense of direction

Sense of destiny

Your answer is correct.

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Question 26

Complete

Mark 1.00 out of 1.00

Selecting strategies based on analysis of an organization's external and internal environment.

Answer: Strategy Formulation

Question 27
Complete

Mark 1.00 out of 1.00

Implementing strategy means mobilizing employees and managers to put formulated strategies into action.

Select one:
True

False

Question 28
Complete

Mark 1.00 out of 1.00

Some organization do not engage in strategic planning because managers and employees show no support.

Select one:
True

False

Question 29
Complete

Mark 1.00 out of 1.00

Short-term milestones that organizations must achieve to reach long-term objectives.

Answer: Annual Objectives

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Question 30

Complete

Mark 1.00 out of 1.00

A vision statement answers the question What do we wan .

Question 31
Complete

Mark 1.00 out of 1.00

Strategy Implementation ensures the long-term survival of the firm while coping with competition and surviving the dynamic
environment.

Select one:
True

False

Question 32
Complete

Mark 1.00 out of 1.00

Both an Art and science of formulating, implementing, and evaluating, cross-functional decisions that facilitate an organization to
accomplish its objectives.

Answer: Strategic Management

Question 33
Complete

Mark 1.00 out of 1.00

Which is an element of strategy Implementation?

Select one:
Competitive analysis and Organizational Structure

Organizational systems and processes

External and Internal analysis

Your answer is correct.

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Question 34

Complete

Mark 1.00 out of 1.00

It is time-based measurable actions, which help in the accomplishment of goals.

Select one:
Business Model

Plan

Objectives

Your answer is correct.

Question 35
Complete

Mark 1.00 out of 1.00

He defines strategy as a creation of a unique and valued position involving a different activity from rivals or performs similar activities
in different ways.

Select one:
a. Micheal Porter

b. Chandler
c. Glueck

Your answer is correct.

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Question 36

Complete

Mark 1.00 out of 1.00

It is described as the "Long-term Market or Competitive Position"

Select one:
Sense of discovery

Sense of direction

Sense of destiny

Your answer is correct.

Question 37
Complete

Mark 1.00 out of 1.00

The action stage of strategic management is called strategy formulation.

Select one:
True

False

Question 38
Complete

Mark 1.00 out of 1.00

When an organization assumes success, it often fails to reward

success. When failure occurs, then the firm may punish.

Answer: Poor reward structure

Question 39
Complete

Mark 1.00 out of 1.00

Strategy is derived from the Greek word strategos, meaning military leader or general.

Select one:
True

False

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Question 40

Complete

Mark 1.00 out of 1.00

This takes Strategic Intent to an all-together new level by including the employee's emotions with the organization aspirations.

Select one:
Sense of Direction

Sense of Destiny

Sense of Discovery

Your answer is correct.

Question 41
Complete

Mark 1.00 out of 1.00

A statement, that provides a perspective of the means, which will lead the organization, reach the vision in the long run.

Select one:
Verifiability
Management Intent

Strategic Intent

Your answer is correct.

Question 42
Complete

Mark 1.00 out of 1.00

Organizations need to set adequate and appropriate objective to cover all performance areas.

Select one:
True

False

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Question 43

Complete

Mark 1.00 out of 1.00

The translation of the strategy into action takes place here, and it details the firm's competitive tactics and initiatives.

Answer: Business Model

Question 44
Complete

Mark 1.00 out of 1.00

The quality of the objectives can be judged on the basis of its ability to give specific direction and tangible basis for evaluating
the performance.

Select one:
True

False

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