Strategic Management MCQ PDF

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10/1/2020

Strategic Management MCQ Questions and Solutions with Explanations | Management

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1. Strategy is developed by the visionary chief executive in ___________ mode of strategic management

A.

planning mode

B.

adaptive mode

C.

strategic mode

D.

entrepreneurial mode Answer & Solution

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Answer & Solution Answer: Option D Solution: Strategy is developed by the visionary chief executive in entrepreneurial mode of strategic management. In the entrepreneurial mode, strategy is developed mainly by a strong visionary chief executive who actively searches for new opportunities, is heavily oriented towards growth and is willing to make bold decisions or to shift strategies whenever necessary.

2. stability strategy is a ____________ strategy

A.

corporate level

B.

business level

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C.

functional level

D.

strategic level Answer & Solution

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Answer & Solution Answer: Option A Solution: Stability strategy is a corporate level strategy. A stability strategy refers to a strategy by a company where the company stops the expenditure on expansion, in other words it refers to situation where company do not venture into new markets or introduce new products.

3. What are the means by which long term objectives will be achieved?

A.

Strategies

B.

Policies

C.

Strength

D.

Opportunities Answer & Solution

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Answer & Solution Answer: Option A Solution: Strategies are the means by which long term objectives will be achieved. Business strategies may include geographic expansion, diversification, acquisition, product development, market penetration, retrenchment, divestiture, liquidation, and joint venture.

4. Marketing strategy is a ___________ type of strategy

A.

business level

B.

Growth strategy

C.

corporate strategy

D.

functional strategy Answer & Solution

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Answer & Solution Answer: Option D Solution: Marketing strategy is a functional strategy type of strategy. Functional Strategy is the strategy or organisational plan adopted by each functional area, viz. marketing, production, finance, human resources and so on, in line with the overall business or corporate strategy, to achieve organisational level objectives.

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5. When an industry relies heavily on government contracts, which forecasts can be the most important part of an external audit

A.

Economic

B.

Competitive

C.

Political

D.

Multinational

Answer & Solution

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Answer & Solution Answer: Option C Solution: When an industry relies heavily on government contracts, Political forecasts can be the most important part of an external audit. Political forecasting provides the contexruulity needed for decision-making and for forecasting 'non-political' trends.

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1. The pie slices within the circles of a ________ reveal the percent of corporate profits contributed by each division

A.

QSPM

B.

BCG matrix

C.

SPACE matrix

D.

Grand strategy matrix Answer & Solution

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Answer & Solution Answer: Option B Solution: The pie slices within the circles of a BCG matrix reveal the percent of corporate profits contributed by each division. BCG matrix is a framework created by Boston Consulting Group to evaluate the strategic position of the business brand portfolio and its potential. It classifies business portfolio into four categories based on industry attractiveness (growth rate of that industry) and competitive position (relative market share).

2. Which one of the following is of concern for not-for-profit organizations?

A.

The markets to service

B.

Identifying suppliers to deal with

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C.

Developing capabilities

D.

Building monopolies Answer & Solution

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Answer & Solution Answer: Option A Solution: The markets to service of the following is of concern for not-for-profit organizations. Market, a means by which the exchange of goods and services takes place as a result of buyers and sellers being in contact with one another, either directly or through mediating agents or institutions.

3. Select the statement that best applies to emergent strategies. Emergent strategy...

A.

implies an ability to react to events

B.

implies strategizing

C.

implies no deviation from plans

D.

implies constant evaluation of the bigger picture Answer & Solution

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Answer & Solution Answer: Option A Solution: Emergent strategy implies an ability to react to events. An emergent strategy is a pattern of action that develops over time in an organization in the absence of a specific mission and goals, or despite a mission and goals. Emergent strategy is sometimes called realized strategy.

4. The impact of strategies on the general direction and basic character of a company is

A.

short range

B.

medium range

C.

long range

D.

minimal Answer & Solution

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Answer & Solution Answer: Option C Solution: The impact of strategies on the general direction and basic character of a company is long range.

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5. Select the most accurate statement. Value

A.

means value for money

B.

is best described as the benefits the business chooses to give to customers through its product/service

C.

is the benefits of a product/service as perceived by the customer

D.

does not offer competitive advantage Answer & Solution

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Answer & Solution Answer: Option C Solution: Value is the benefits of a product/service as perceived by the customer. A value proposition is a comparison of the benefits offered by a company's products and services to the price it asks customers to pay.

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1. The...