Question 1

ETOP stands for .

Accepted Answer

ETOP stands for Environmental Threat & Opportunity Profile, which is a strategic management tool used to analyze the environmental factors that can have an impact on an organization's operations.

Question 2

The control process requires the following types of information

Accepted Answer

The control process involves comparing actual performance against planned performance (A), identifying variances between the two (B), and understanding the reasons for these variances (C). Therefore, all of the options are required types of information for an effective control process.

Question 3

Harvest strategy is used for

Accepted Answer

Harvest strategy is used for both Dogs and Question marks. Dogs are products with low market share and low growth rate. Question marks are products with high growth rate but low market share.

Question 4

Attack strategies are

Accepted Answer

All listed options, Frontal attack, Flank attack, and Encirclement attack, are recognized strategies used in various forms of competition or conflict, including military operations, sports, and business marketing strategies.

Question 5

Three C's affecting today's companies are

Accepted Answer

The three C's affecting today's companies are Customer, Competition, and Change. These elements are crucial for businesses to consider in their strategies to stay relevant, competitive, and responsive to market demands.

Question 6

For strategic learning, the balanced scorecard supplies

Accepted Answer

The balanced scorecard typically includes four elements: financial measures, customer knowledge, internal business processes, and learning and growth.

Question 7

In strategic learning, an element defines the articulation of the company's

Accepted Answer

A shared vision is crucial in strategic learning as it articulates the company's collective aspirations and goals, aligning efforts and fostering a unified direction.

Question 8

Business strategy can be thought of a set of hypotheses about the relationship of

Accepted Answer

Business strategy often involves making assumptions about how certain actions will lead to desired outcomes, essentially linking cause (strategic actions) and effect (business results).

Question 9

Scorecard facilitates the strategy review essential for

Accepted Answer

Scorecards are tools used for strategic learning by providing a framework to review, monitor, and adjust strategies based on performance metrics and objectives.

Question 10

A business strategy should be viewed as a set of

Accepted Answer

A business strategy is essentially a set of hypotheses about how the company plans to achieve its goals, which are then tested and adapted based on performance and changing conditions.

Question 11

Strategic mission:

Accepted Answer

Strategic mission is a statement of a firm's unique purpose and scope of operations.

Question 12

----------- is a participative, systematic approach to planning and implementing a constant organizational improvement process.

Accepted Answer

The answer of ----------- is a participative, systematic approach to...

Question 13

SCM Stands for ----------

Accepted Answer

SCM stands for Supply Chain Management, which involves managing the flow of goods and services, including all processes that transform raw materials into final products.

Question 14

VMOST Analysis tool is developed by:

Accepted Answer

VMOST Analysis tool was developed by Rakesh Sondhi. It is a strategic planning tool that stands for Vision, Mission, Objectives, Strategies, and Tactics, helping organizations align their actions towards their strategic goals.

Question 15

VMOST stands for-------

Accepted Answer

VMOST stands for Vision, Mission, Objective, Strategy, Tactics, which are components used in strategic planning to ensure that an organization's actions are aligned with its vision and mission.

Question 16

The overall strategy which is comprehensive in nature and provides the basis for strategic direction is known as----

Accepted Answer

The answer of The overall strategy which is comprehensive in...

Question 17

Which of the following is/are stability strategies?

Accepted Answer

Stability strategies are approaches a company takes to maintain its current position in the market without significant growth or contraction. This includes the No Change strategy, where a company decides to do nothing new and continue with its current operations; the Caution Strategy, where a company proceeds carefully with minimal changes to avoid risks; and the Profit Strategy, which focuses on maximizing profits without necessarily expanding the market share. All these strategies aim at maintaining the status quo rather than pursuing aggressive growth or reduction.

Question 18

'Diversification strategy' is used to gain market share in

Accepted Answer

Diversification strategy involves introducing new products to new markets to gain market share.

Question 19

Défense strategies in which the leader stretches over new market territories using market diversification is classified as

Accepted Answer

Mobile defense strategy involves expanding into new markets or territories to diversify and reduce the risk of being overtaken by competitors. This approach allows a company to move beyond its current markets or products to protect its overall market position.

Question 20

Strategies such as diversification, penetration and market development are the part of

Accepted Answer

These strategies are part of intensive growth, focusing on building and expanding within the company's existing markets and product lines.

Quiz 5: Strategic Management and Business Strategy