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MCQOPTIONS
This section includes 1003 Mcqs, each offering curated multiple-choice questions to sharpen your General Management knowledge and support exam preparation. Choose a topic below to get started.
| 251. |
In contrast to the industrial organization model, in a resource-based model, which of thefollowing factors would be considered a key to organizational success? |
| A. | unique market niche. |
| B. | weak competition. |
| C. | economies of scale. |
| D. | loyal employees. |
| Answer» E. | |
| 252. |
Strategy evaluation is becoming with the passage of time. |
| A. | increasingly difficult |
| B. | much simpler |
| C. | very convenient |
| D. | an unnecessary activity |
| Answer» B. much simpler | |
| 253. |
Product differentiation refers to the: |
| A. | ability of the buyers of a product to negotiate a lower price. |
| B. | response of incumbent firms to new entrants. |
| C. | belief by customers that a product is unique. |
| D. | fact that as more of a product is produced the cheaper it becomes per unit. |
| Answer» D. fact that as more of a product is produced the cheaper it becomes per unit. | |
| 254. |
Which of the following is/are not an element/s of strategic management Process? |
| A. | Scanning |
| B. | Formulation |
| C. | Implementation |
| D. | None of these |
| Answer» E. | |
| 255. |
Which of the following is/are not coming under ‘Porter’s Five Forces? |
| A. | Threat of new potential entrants |
| B. | Threat of substitute product/services |
| C. | Bargaining power of employees |
| D. | None of these. |
| Answer» D. None of these. | |
| 256. |
Acquisition of competitors for integrative growth is |
| A. | Horizontal integration |
| B. | Forward integration |
| C. | Backward integration |
| D. | None of the above |
| Answer» B. Forward integration | |
| 257. |
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» C. Defining the business and developing a mission | |
| 258. |
An analysis of the economic segment of the external environment would include all of the following EXCEPT: |
| A. | interest rates. |
| B. | international trade. |
| C. | the strength of the U.S. dollar. |
| D. | the move toward a contingent workforce. |
| Answer» E. | |
| 259. |
Political variables have a significant effect on |
| A. | Strategy formulation and implementation |
| B. | Strategy formulation and evaluation |
| C. | Strategy implementation and evaluation |
| D. | Strategy formulation, implementation and evaluation |
| Answer» B. Strategy formulation and evaluation | |
| 260. |
'Diversification strategy' is used to gain market share in |
| A. | current product in current market |
| B. | new products for new markets |
| C. | new products in new market |
| D. | new products in current markets |
| Answer» C. new products in new market | |
| 261. |
Which of the following is not Growth/Expansion strategies? |
| A. | Caution strategy |
| B. | Vertical integration |
| C. | Diversification |
| D. | Cooperation |
| Answer» B. Vertical integration | |
| 262. |
Competitive advantage can best be described as: |
| A. | increased efficiency. |
| B. | what sets an organization apart |
| C. | a strength of the organization. |
| D. | intangible resources. |
| Answer» B. what sets an organization apart | |
| 263. |
The BCG's Growth Share matrix uses and of market growth ascriteria to make investment decisions. |
| A. | Relative market share and quarterly rate |
| B. | Relative market share and annual rate |
| C. | Absolute market share and annual rate |
| D. | Absolute market share and quarterly rate |
| Answer» C. Absolute market share and annual rate | |
| 264. |
“To improve economic strength of society and function as a good corporate citizen on alocal, state, and national basis in all countries in which we do business”. This is a mission statement that contains: |
| A. | Self-concept |
| B. | Economic concern |
| C. | Products or Services |
| D. | Concern for Public Image |
| Answer» E. | |
| 265. |
A strategic alliance: |
| A. | Is a collaborative arrangement where companies join forces to defeat mutual competitive rivals |
| B. | Involves two or more companies joining forces to pursue vertical integration |
| C. | Is a formal agreement between two or more companies in which there is strategically relevant collaboration of some sort, joint contribution of resources, shared risk, shared control and mutual dependence |
| D. | All the above. |
| Answer» D. All the above. | |
| 266. |
According to Greenley, strategic management offers all of these benefits except that |
| A. | it provides an objective view of management problems. |
| B. | it creates a framework for internal communication among personnel. |
| C. | it encourages a favourable attitude toward change. |
| D. | it maximizes the effects of adverse conditions and changes. |
| Answer» E. | |
| 267. |
The environment is composed of elements in the broader society that can influence an industry and the firms within it. |
| A. | general |
| B. | competitor |
| C. | sociocultural |
| D. | industry |
| Answer» B. competitor | |
| 268. |
Which of the following is/are coming under ‘Porter’s Five Forces? |
| A. | Threat of new potential entrants |
| B. | Threat of substitute product/services |
| C. | Bargaining power of suppliers |
| D. | All of these |
| Answer» E. | |
| 269. |
Which statement best describes intuition? |
| A. | It represents the marginal factor in decision-making. |
| B. | It represents a minor factor in decision-making integrated with analysis. |
| C. | It should be coupled with analysis in decision-making. |
| D. | It is better than analysis in decision-making. |
| Answer» D. It is better than analysis in decision-making. | |
| 270. |
SBU (strategic business unit) is a unit that is usually responsible for its ownbudgeting, new product decisions, hiring decisions, and price setting. |
| A. | Semi-autonomous |
| B. | Autonomous |
| C. | Non-autonomous |
| D. | None of the above |
| Answer» B. Autonomous | |
| 271. |
A firm successfully implementing a differentiation strategy would expect: |
| A. | customers to be sensitive to price increases. |
| B. | to charge premium prices. |
| C. | customers to perceive the product as standa |
| Answer» C. customers to perceive the product as standa | |
| 272. |
General Electric has classified its businesses into strategic business units. |
| A. | 42 |
| B. | 45 |
| C. | 49 |
| D. | None of the above |
| Answer» D. None of the above | |
| 273. |
The economic environment refers to: |
| A. | the nature and direction of the economy in which a firm competes or may compete. |
| B. | the economic outlook of the world provided by the World Bank. |
| C. | an analysis of how the environmental movement and world economy interact. |
| D. | an analysis of how new environmental regulations will affect our economy. |
| Answer» B. the economic outlook of the world provided by the World Bank. | |
| 274. |
Criteria for making an evaluation is (are) |
| A. | Consistency with goals |
| B. | Consistency with environment |
| C. | Money |
| D. | All of the above |
| Answer» E. | |
| 275. |
A firm’s mission: |
| A. | is a statement of a firm’s business in which it intends to compete and the customers which it intends to serve. |
| B. | is an internally-focused affirmation of the organization’s financial, social, and ethical goals. |
| C. | is mainly intended to emotionally inspire employees and other stakeholders. |
| D. | is developed by a firm before the firm develops its vision. |
| Answer» B. is an internally-focused affirmation of the organization’s financial, social, and ethical goals. | |
| 276. |
Which of these is/are a basic activity of strategy evaluation? |
| A. | Reviewing the underlying internal and external factors that represent the bases of current strategies |
| B. | Measuring organizational performance |
| C. | Taking corrective actions |
| D. | All of the above |
| Answer» E. | |
| 277. |
Strategies such as diversification, penetration and market development are the part of |
| A. | extensive growth |
| B. | intensive growth |
| C. | integrative growth |
| D. | disintegrative growth |
| Answer» C. integrative growth | |
| 278. |
----------- is a participative, systematic approach to planning and implementing a constantorganizational improvement process. |
| A. | WPM |
| B. | TQM |
| C. | SCM |
| D. | QC |
| Answer» D. QC | |
| 279. |
Strategy-formulation concepts and tools |
| A. | Do not differ greatly for different size and type of organizations |
| B. | Differ greatly for different size and type of organizations |
| C. | Do not differ greatly for profit or non-profit organizations but differ in small and large organizations |
| D. | None of the mentioned options |
| Answer» B. Differ greatly for different size and type of organizations | |
| 280. |
What are the means by which long-term objectives will be achieved? |
| A. | Strategies. |
| B. | Strengths |
| C. | Weaknesses. |
| D. | Policies. |
| Answer» B. Strengths | |
| 281. |
What are guides to decision making? |
| A. | laws |
| B. | rules |
| C. | policies |
| D. | procedures |
| Answer» D. procedures | |
| 282. |
Acquiring one or more suppliers for integrative growth is |
| A. | Horizontal integration |
| B. | Forward integration |
| C. | Backward integration |
| D. | None of the above |
| Answer» D. None of the above | |
| 283. |
All of the following are forces that create high rivalry within an industry EXCEPT |
| A. | numerous or equally balanced competitors. |
| B. | high fixed costs. |
| C. | fast industry growth. |
| D. | high storage costs. |
| Answer» D. high storage costs. | |
| 284. |
Which of the following focuses on supporting the corporate and business strategies? |
| A. | Competitive strategy |
| B. | Corporate strategy |
| C. | Operational strategy |
| D. | Mission strategy |
| Answer» D. Mission strategy | |
| 285. |
A business strategy should be viewed as a set of |
| A. | Domain |
| B. | Models |
| C. | Hypothesis |
| D. | Procedures |
| Answer» D. Procedures | |
| 286. |
Défense strategies in which the leader stretches over new market territories using marketdiversification is classified as |
| A. | mobile defence |
| B. | static defence |
| C. | stable defence |
| D. | unstable defence |
| Answer» B. static defence | |
| 287. |
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» D. More conceptual than practical | |
| 288. |
Switching costs refer to the: |
| A. | cost to a producer to exchange equipment in a facility when new technologies emerge. |
| B. | cost of changing the firm’s strategic group. |
| C. | one-time costs suppliers incur when selling to a different customer. |
| D. | one-time costs customers incur when buying from a different supplier. |
| Answer» E. | |
| 289. |
“A possible and desirable future state of an organization” is called: |
| A. | Mission |
| B. | Vision |
| C. | Strategy implementation |
| D. | None of above |
| Answer» C. Strategy implementation | |
| 290. |
In PEST analysis, “S” stands for------------ |
| A. | Stability factors |
| B. | Social factors |
| C. | Sales factors |
| D. | Strategic factors |
| Answer» C. Sales factors | |
| 291. |
Forecasting tools can be broadly categorized into two groups. Those are: |
| A. | Qualitative, Operational |
| B. | Quantitative, Operational |
| C. | Qualitative, Quantitative |
| D. | Regression and time series analysis |
| Answer» D. Regression and time series analysis | |
| 292. |
“Identifying and evaluating key social, political, economic, technological and competitive trends and events”. Which of the followings best describes this statement? |
| A. | Developing an effective mission statement |
| B. | Conducting an internal audit |
| C. | Performing an external audit |
| D. | Formulating strategy |
| Answer» D. Formulating strategy | |
| 293. |
A good example of vertical integration is |
| A. | A global public accounting firm acquiring a small local or regional public accounting firm |
| B. | A large supermarket chain getting into convenience food stores |
| C. | A crude oil refiner purchasing a firm engaged in drilling and exploring for oil |
| D. | All of these. |
| Answer» D. All of these. | |
| 294. |
is the foundation of blue ocean strategy. |
| A. | Innovation |
| B. | Value creation |
| C. | Value innovation |
| D. | value cost trade-off |
| Answer» D. value cost trade-off | |
| 295. |
Three C’s affecting today’s companies are |
| A. | Customer, Competition, Change |
| B. | Cost, Competition, Change |
| C. | Customer, Competition, Cost |
| D. | Customer, Cost, Change |
| Answer» B. Cost, Competition, Change | |
| 296. |
Product development strategy for achieving intensive growth focuses on: |
| A. | Current products and new markets |
| B. | Current products and current markets |
| C. | New products and current markets |
| D. | New products and new markets |
| Answer» D. New products and new markets | |
| 297. |
Which of the following is not a characteristic of strategic management that makes itdifferent from other types of management? |
| A. | It is interdisciplinary. |
| B. | It has an external focus. |
| C. | It has an internal focus. |
| D. | It concerns the present direction of the organization. |
| Answer» E. | |
| 298. |
A strategic market definition tends to focus on selling a product or service to a |
| A. | Current market |
| B. | Potential market |
| C. | Both a & b |
| D. | None of the above |
| Answer» C. Both a & b | |
| 299. |
‘Four Corner Analysis model’ is developed by |
| A. | Robert S Kaplan |
| B. | Peter F Drucker |
| C. | C K Prahalad |
| D. | Michael Porter |
| Answer» E. | |
| 300. |
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» C. Define the operational structure of the organization | |