Advanced Strategic Management MCQs [set-1]

1. The word “strategy” is derived from the Greek word “------"

A. Strategos

B. Stratum

C. Strategy

D. All of these
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Answer: A
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2. ---------- can also be defined as “a general direction set for the company
and its various components to achieve a desired state in the future.
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A. Goal M
B. Objectives

C. Mission

D. Strategy

Answer: D

3. ----------- is concerned with the determination of the basic long-term

goals and the objectives of an enterprise, and the adoption of courses of
action and allocation of resources necessary for carrying out these goals.

A. Policies framing

B. Mission statement

C. Target setting

D. Strategic Management

Answer: D

4. Which of the following is not a characteristic of strategic Management?

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 A. Strategic issues require top-management decisions

B. Strategic issues involve the allocation of large amounts of company resources

C. Strategic issues are future oriented

D. None of these

Answer: D

5. ------------ strategy occupies the highest level of strategic decision

making and covers actions dealing with the objective of the firm,
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acquisition and allocation of resources and coordination of strategies of
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various SBUs for optimal performance.
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A. SBU
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B. Corporate level
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C. Functional
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D. Operational M
Answer: B

6. The fundamental purpose for the existence of any organization is

described by its

A. policies

B. mission

C. procedures

D. strategy

Answer: B

7. The fundamental purpose of an organization’s mission statement is to

A. Create a good human relations climate in the organization

B. Define the organization’s purpose in society

C. Define the operational structure of the organization

D. Generate good public relations for the organization

Answer: B

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8. The acronym SWOT stands for

A. Strategic Weakness Overcoming Tools

B. Services, Works, Operation and Tools

C. Strengths, weakness, Overcome and Threats

D. Strengths, Weaknesses, Opportunities, and Threats

Answer: D

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oof strategic management
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9. Which of the following is not a characteristic
that makes it different from other types of .management?
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A. It is interdisciplinary.

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B. It has an external focus.
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C. It has an internal focus.

D. It concerns the present direction of the organization.

Answer: D

10. Which of the following is an issue considered in developing corporate

strategies?

A. What business(es) are we in?

B. What direction are we going?

C. What resources do we have to implement our strategies?

D. What businesses are we in and what to do with those businesses?

Answer: C

11. Which of the following is NOT a major element of the strategic

management process?

A. Formulating strategy

B. Implementing strategy

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 C. Assigning administrative tasks

D. Evaluating strategy

Answer: C

12. Competitive advantage can best be described as:

A. increased efficiency.

B. what sets an organization apart

C. a strength of the organization.

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D. intangible resources.
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Answer: A
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13. is the foundation of blue ocean strategy.
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A. Innovation M
B. Value creation

C. Value innovation

D. value cost trade-off

Answer: C

14. The various organizational routines and processes that determine how
efficiently and effectively the organization transforms its inputs into
outputs are called:

A. strengths.

B. core competencies.

C. capabilities.

D. customer value.

Answer: B

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15. When defining strategic management, the most important thing to
remember is that itis:

A. Not as easy as you think

B. Mainly the province of senior managers

C. A living evolving process

D. More conceptual than practical

Answer: C

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16. An organisation’s strategy: .c
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A. remains set in place longer than the mission and objectives

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B. generally, forms over a period of time as events unfold

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C. tends to be formed at the same time the mission is developed and objectives are formulated

D. is usually conceived at a single time when managers sit down and work out a comprehensive
strategic plan for the next 3-5 years

Answer: B

17. The primary focus of strategic management is:

A. strategic analysis

B. the total organisation

C. strategy formulation

D. strategy implementation.

Answer: B

18. Which of the following is not an advantage of strategic management?

A. It provides organisations with a clearer sense of direction and purpose

B. It helps improve the political, economic, social and technological environment of the
organisation

C. It helps orientate management decisions to relevant environmental conditions

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 D. It helps organisations be proactive rather than reactive

Answer: B

19. Which of the following defines what business or businesses the firm is
in or should be in

A. Business strategy

B. Corporate strategy

C. Functional strategy

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D. National strategy
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Answer: B
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20. Which of the following defines how each individual business unit will
attempt to achieve its mission? c
A. Business strategy
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B. Corporate strategy

C. Functional strategy

D. National strategy

Answer: A

21. ---------- strategy defines the uses of corporate strategy and specific
tactics for each market.

A. Business strategy

B. Corporate strategy

C. Functional strategy

D. Operational strategy

Answer: A

22. ----------- strategy defines the day to day actions need to deliver the
corporate and business strategies.

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 A. Core strategy

B. Operational Strategy

C. Corporate strategy

D. Functional strategy

Answer: D

23. Which of the following focuses on supporting the corporate and

business strategies?

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A. Competitive strategy
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B. Corporate strategy
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C. Operational strategy

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D. Mission strategy
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Answer: C
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24. Which one of the following is not a primary task of strategic
managers?

A. Establishing strategic objectives

B. Developing the steps to follow in implementing operational level plans

C. Defining the business and developing a mission

D. Developing a strategy

Answer: B

25. The task of strategy choice involves:

A. developing plans and activities which will improve the organisation’s performance and
competitive position

B. determining how the organisation can be more market and efficiency oriented

C. monitoring whether the organisation is achieving good financial performance

D. keeping the organisation free of debt

Answer: A

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