Deck 2: The Importance and Components of Strategic Management and Entrepreneurship

Question 1

Strategic management includes __________________

A)Vision
B)Mission
C)Objectives
D)Strategy
E)All of these

Answer 1

All of these

Question 2

________________thus reflects managerial choices and directions among alternatives and provides the answer of how to achieve the targeted results in the light of organization's mission and prospects

A)A vision
B)A mission
C)A strategy
D)A goal
E)An objective

Answer 2

A strategy

Question 3

The strategic advantages of a small business firm are ___________________

A)Mobility
B)Unanimity
C)Innovative potential
D)Size of investment
E)All of these

Answer 3

All of these

Question 4

The corporate level management help each strategic business unit ot define its __________________

A)Goal of ifrm
B)Goal of production
C)Goal of nature
D)Scope of operation
E)Profit

Question 5

The _________________________is given the authority to make its own strategic decision within corporate guidelines as long as it meets corporate activities

A)Strategic business unit
B)Information centre
C)Corporate level
D)Corporate goal
E)Cost

Question 6

Which is an alternatives objective of SBUs as per Kotler?

A)Build
B)Hold
C)Harvest
D)Divest
E)All of these

Question 7

Business is affected by technological environment to a large extent because it affect the ________________________

A)Fund of a firm
B)Profit of a firm
C)Product of the firm
D)Operations of the company
E)Profit

Question 8

SWOT analysis includes _________________________

A)Strengths
B)Opportunities
C)Threats
D)Weakness
E)Al of the above

Question 9

The _______________________analysis is a tool of environment analysis

A)SWOT
B)EOQ
C)PLC
D)DATA
E)RAM

Question 10

Internal environment of an organization includes _______________________

A)Market value
B)Exchange price
C)Political system
D)Weaknesses
E)International laws

Question 11

Opportunities are _____________________________

A)Global market
B)Cost advantage
C)Lack of govt regulation
D)All of these
E)None of these

Question 12

Strength includes ______________________________

A)Low cost of production
B)Better product quality
C)Product innovation skills
D)All of these
E)None of these

Question 13

Weaknesses include _________________

A)Lack of external relationships
B)Low skilled personnel
C)Inadequate use of production capacity
D)No patent right
E)All of these

Question 14

Strength cover ____________________

A)Highly skilled personnel
B)Advantages of tax concessions
C)Effective sales force
D)All of these
E)None of these

Question 15

Weakness are ___________________

A)Defective marketing
B)High capital cost
C)No patent right
D)Ineffective inventory control system
E)All of these

Question 16

Strategy is related with _____________________

A)Choice and operation of road
B)Fund
C)Cost
D)Profit and management
E)Choice and direction of an organization

Question 17

Which is the basic mode of strategic thinking

A)Intuition mode
B)The entrepreneurial mode
C)The adaptive mode
D)Integrated mode
E)All of these

Question 18

Which is the component of retrenchment strategy?

A)Turnaround strategy
B)Divestment strategy
C)Liquidation strategy
D)All of these
E)None of these

Question 19

Which is the issue of strategy implementation?

A)Project implementation
B)Procedural implementation
C)Organizational structure
D)Entrepreneurial structure
E)All of these

Question 20

Strength and weakness analysis includes _____________________

A)Identifying strength and weakness
B)Strategic cost analysis.
C)Distinctive competencies
D)Strategic cost analysis
E)All of these

Question 21

SWOT analysis should appraise a firms _________________________________

A)Strengths
B)Weaknesses
C)Opportunities
D)Threats
E)All of these

Question 22

Which is the stage of strategic management?

A)Strategic formulation
B)Strategy implementation
C)Strategy evaluation
D)All of these
E)None of these

Question 23

Concept of entrepreneurship includes ________________________

A)Risk bearing capacity
B)A function of organization and coordination
C)Managerial skill
D)Innovation ability
E)All of these

Question 24

Which is the part of concept of entrepreneurship?

A)Group level reaction
B)Organization building
C)High achievement capacity
D)All of these
E)None of these

Question 25

Entrepreneurship includes ___________________________

A)Risk
B)Innovation
C)Ability of organization construction
D)Leadership
E)All of these