CBMEC1 QUIZ FOR WEEK 1

When you are thinking "What is our business?", you are referring to.....

• Vision

• Mission

• Objectives

• All of these

Most of the small businesses only use what hierarchical level?

• Corporate

• Divisional

• Functional

Success always creates new and different problems; complacent organizations experience ________.

The following are the 3 fundamental strategy evaluation activities, EXCEPT:

• reviewing external and internal factors

• measuring performance

• measuring profit

• taking corrective actions

It is the final stage in strategic management.

This is critical for successful strategy implementation.

• Discipline

• Interpersonal Skills

• Intrapersonal Skills

• Commitment

Strategy implementation includes developing a strategy-supportive culture.

Strategies formulated but not implemented serve useful purpose.

• Both sentences are TRUE

• Both sentences are FALSE

• Sentence 1 is TRUE, Sentence 2 is FALSE

• Sentence 1 is FALSE, Sentence 2 is TRUE

Strategy formulation is also........

• selecting less problem

• formulating one effective solution

• creating more problem

• choosing best alternative

The purpose of strategic management is to exploit and _______ new and different opportunities.

• find

• create

• choose

• identify

This is considered as the First Step in Strategic Management.