Question 1

Which of the following is not a stage of strategy formulation techniques?

Accepted Answer

B

Question 2

ST Strategies is an important strategy to

Accepted Answer

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

Question 3

Strategy-formulation concepts and tools

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

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?

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

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

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

"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". This is a mission statement that contains:

Accepted Answer

The answer of "To improve economic strength of society and...

Question 9

Strategic-management audit is known as:

Accepted Answer

The answer of Strategic-management audit is known as:
...

Quiz 2: Strategic Management and Organizational Success