Strategic Management - PAIR QUIZ

The acronym SWOT stands for:

• Strengths, Willingness, Opportunities, Time-Bound

• Safety, Work, Opportunities, Threats

• Strengths, Weaknesses, Opportunities, Threats

• Safety, Willingness, Opportunities, Time-Bound

Which of the following BEST defines a vision statement?

• Answers the basic question; “what is our business?”

• How and when to improve the organization

• The achievement of objectives

• A statement that answers the question, “what do we want to become?”

Which of the following BEST completes the following statement? A strategic vision for a company _________________________.

• involves how fast to pursue a chosen strategy.

• consists of thinking through what it will take to make the chosen strategy work as planned.

• is the same thing as a company's strategy.

• concerns management's view of the company's future business structure and long-term direction.

Which of the following is not a part of the micro environment?

• Publics

• Competitors

• Technology

• Shareholders

Which of the following is not a part of the macro environment?

• Laws and policies

• Suppliers

• Demographics

• Social Values

As it relates to strategic thinking, approximately, what would be deemed long term?

• More than five (5) years

• One (1) month to a year

• Two (2) to three (3) years

• Two (2) months less than four (4) years

Which of the following BEST completes the following statement? Micro environment is the ______________ environment of the company.

• External

• Internal

• Human

• Working

An organization’s general expression of its overall purpose is known as its:

• Mission

• Vision

• Goal

• Objectives

What are the means by which long term objectives will be achieved?

• Opportunities

• Strengths

• Strategies

• Policies

The word tactics is most likely to be associated with which of the following:

• Business Strategy

• Corporate Strategy

• Operational Strategy

• Goals Strategy