Strategic Management -HOW MUCH U REMEMBER?

The fundamental purpose for the existence of any organization is described by its

• policies

• mission

• procedures

• strategy implementation

Which of the following is a true statement about the maturity stage of the industry life cycle?

• Profit increase

• It is the easiest stage for marketers

• Competition become less intense

• Sales growth slows down

The fundamental purpose of an organization’s mission statement is to

• create a good human relations climate in the organization

• define the organization’s purpose in society

• generate good public relations for the organization

Which of the following is not a characteristic of strategic management that makes it different from other types of management?

• It is interdisciplinary.

• It has an external focus

• It has an internal focus

• It concerns the present direction of the organization.

In case/stage market is unaware of the existence of offering/product and firm is trying to grow customer awareness as much as possible

• Maturity Stage

• Growth Stage

• Decline Stage

• Introduction Stage

Which of the following is not true about Defensive Strategies?

• Only the Market Leader should consider playing defensive

• The best defensive strategy is to attack yourself

• Strong competitive moves should always be blocked

• Find a weakness in leader’s strength and attack at the point

What is the ultimate aim of successful strategy implementation?

• Driving your competitors out of business for good

• Good human resource management

• Customer satisfaction

• Competitive advantage and improved performance

What term can be used to describe putting a chosen strategy into action?

• Goal formulation

• Strategy implementation

• Action plan

• Strategic alliance

Which of the following is an issue considered in developing corporate strategies?

• What business(es) are we in?

• What direction are we going?

• What resources do we have to implement our strategies?

It is possible for a company or

a business unit to achieve low cost and differentiation simultaneously

• True

• False

• May be