Question 1

Which of the following is not a stage of strategy formulation techniques?&#10;A)Formulation Framework&#10;B)Matching stage&#10;C)External factor evaluation&#10;D)Decision stage

Accepted Answer

Matching stage&#10;

Question 2

ST Strategies is an important strategy to&#10;A)Match weakness with opportunities of the firm&#10;B)Overcome external threats&#10;C)Obtain benefit from its resources&#10;D)Overcome its weakness and reducing threats

Accepted Answer

ST Strategies focus on using a firm's strengths to overcome external threats.

Question 3

Strategy-formulation concepts and tools&#10;A)Do not differ greatly for different size and type of organizations&#10;B)Differ greatly for different size and type of organizations&#10;C)Do not differ greatly for profit or non-profit organizations but differ in small and large organizations&#10;D)None of the mentioned options

Accepted Answer

Strategy-formulation concepts and tools do not differ greatly for different sizes and types of organizations. The fundamental principles of strategy formulation are applicable across various types of organizations, whether they are large or small, profit or non-profit. The core concepts remain consistent, although the specific strategies and tools might be adapted to fit the unique context and objectives of each organization.

Question 4

Annual objectives&#10;A)Are not critical to success&#10;B)Serve as guidelines for action, directing and channelling efforts and activities of organization members&#10;C)Are not important for employee motivation and identification&#10;D)Do not provide a basis for organizational design

Accepted Answer

Annual objectives are crucial as they guide the actions and efforts of organization members, ensuring that everyone is working towards the same goals.

Question 5

Which of the following resources is used by all organizations to achieve desired objectives?&#10;A)Financial resources,&#10;B)Physical resources&#10;C)Human resources&#10;D)All of the mentioned options

Accepted Answer

All organizations, regardless of their type or size, utilize financial, physical, and human resources to achieve their objectives. These resources are fundamental for the operation and success of any organization.

Question 6

Strategic management is&#10;A)A pure science.&#10;B)Based mainly on intuition.&#10;C)Needed mainly when organizational performance falls.&#10;D)Based on the use of quantitative and qualitative information.

Accepted Answer

Strategic management involves the use of both quantitative data (financial reports, performance metrics) and qualitative information (organizational culture, customer satisfaction) to inform decision-making and strategy formulation. It is not solely based on intuition, nor is it considered a pure science due to its reliance on judgment and interpretation. Additionally, it is not only needed when organizational performance falls but is a continuous process for guiding an organization towards its goals.

Question 7

Strategic management process activates in the sequence of&#10;A)Environmental scanning, Strategy formulation, Implementation, c ontrol and evaluation&#10;B)Strategy formulation, Environmental scanning, Implementation, control and evaluation&#10;C)Environmental scanning, Strategy Implementation, formulation, c ontrol and evaluation&#10;D)Strategy formulation, Implementation, control, evaluation, Environmental scanning

Accepted Answer

The strategic management process typically follows the sequence of environmental scanning (to understand internal and external environments), strategy formulation (developing the strategy), implementation (putting the strategy into action), and control and evaluation (monitoring outcomes and making adjustments as necessary).

Question 8

&#34;To improve economic strength of society and function as a good corporate citizen on a local, state, and national basis in all countries in which we do business&#34;. This is a mission statement that contains:&#10;A)Self-concept&#10;B)Economic concern&#10;C)Products or Services&#10;D)Concern for Public Image

Accepted Answer

The answer of &#34;To improve economic strength of society and...

Question 9

Strategic-management audit is known as:&#10;A)Environmental scanning&#10;B)Strategy formulation&#10;C)Strategy control&#10;D)Strategy evaluation

Accepted Answer

The answer of Strategic-management audit is known as:&#10;A)Environmental scanning&#10;B)Strategy formulation&#10;C)Strategy...

Deck 2: Strategic Management and Organizational Success