Question 1

Strategy intent includes _______________________

Accepted Answer

Strategy intent includes vision, mission, and objectives, as these elements collectively define the purpose, direction, and key goals of an organization.

Question 2

SWOT analysis includes _______________________

Accepted Answer

SWOT analysis is a tool used in various levels of business strategy, including corporate, business level, and functional strategies, as well as in the development of strategic plans. It helps organizations identify their Strengths, Weaknesses, Opportunities, and Threats.

Question 3

Strategic management begins with ____________________

Accepted Answer

Strategic management begins with a mission, which defines the organization's purpose and primary objectives.

Question 4

"Mission is the fundamental work given by the society to an organization" who said?

Accepted Answer

The answer of "Mission is the fundamental work given by...

Question 5

A missions aim should always to high but it should not be improper and ____________

Accepted Answer

The correct word to complete the sentence is "impractical," as it contrasts with the idea of aiming high but still being achievable. "Improper and impractical" suggests that while missions should be ambitious, they should also be realistic and feasible.

Question 6

A mission includes ________________________

Accepted Answer

A mission includes elements that are distinctive from the firm, precise, feasible, and motivating, encompassing all the qualities listed.

Question 7

The process of strategy management starts with ____________________

Accepted Answer

The process of strategy management typically starts with the determination of mission, which outlines the organization's purpose, values, and core goals, serving as the foundation for further strategic planning and decision-making.

Question 8

"The goal is the necessary equipment for conducting of professional units in important fields , the flight of management will be aimless without this because there will neither be any signs nor any early familiar way to know the way" who said

Accepted Answer

Peter F. Drucker is known for emphasizing the importance of clear objectives in management, suggesting that without goals, management would lack direction and purpose.

Question 9

The goal includes ________________

Accepted Answer

Goals often encompass acceptance of a situation, presenting a challenge to overcome, and incorporating feedback for improvement, making all these elements part of achieving a goal.

Question 10

Individual goal is a _________________________

Accepted Answer

Individual goal refers to the personal objectives or ambitions of a member within an organization, focusing on their own career development, satisfaction, or achievements, rather than collective or organizational objectives.

Question 11

Objectives are _______________________________

Accepted Answer

Objectives encompass all the given descriptions: they are pioneering descriptions of an organization's actions, outline expected actions and results (not necessarily the actual outcomes), are inherently future-oriented, and serve as action plans or commitments towards an organization's purpose.

Question 12

Objectives should be __________________

Accepted Answer

Objectives should be measurable, defined in quantitative form, practical, and realistic to ensure they are achievable and can be effectively managed and evaluated. This comprehensive approach ensures that objectives are clear, attainable, and aligned with overall goals.

Question 13

Strategy is designed or formulated on the basis of ______________________

Accepted Answer

Strategy is designed or formulated based on goals. Goals provide the direction and end point that strategies aim to achieve.

Quiz 1: Business Policy, Strategic Management, and Entrepreneurship