QUIZ 2

1. Strategic management is the management of an organization’s resources to achieve its _________________

• Profit

• Goals and Objective

• Market Share

• Decision Making

Which of the following is at the core of strategic management?

• Choosing which organizational objective to focus on

• Being alert for opportunities to change work responsibilities.

• Adapting the organisation to a changing external environment

• Choosing whether to make decision autocratically or on the basis of participation.

The three organizational levels are:

• Corporate Level, Business Level, Unit Division Level.

• Corporate Level, R&D Division Level, Functional Level

• Corporate Level Strategy, Business Level Strategy, Functional Level Strategy.

• Corporate Strategy Level, Business Level, Specialist Level.

Which of the following is an example of competing on quick response?

• A firm produces its product with less raw material waste than its competitors.

• A firm offer more reliable products than its competitors.

• A firm’s products are introduced into the market faster than its competitors.

• A firm’s research and development department generate many ideas for new products.

What is mean by the term “Stakeholder”?

• A person who is not related with a business.

• A person who is related with a business.

• A person who owns a business

• A person who purchases the share of a business.

Investing in innovation helps firms lower their costs

• TRUE

• FALSE

Which of these is NOT an example of process innovation?

• On-line retailing

• Tooth-whitening chewing gum

• Total quality management

• Improved surgical techniques

In today’s dynamic environment especially due to pandemic, managing change and innovation is key.

• TRUE

• FALSE

Hiring and keeping quality employees are NOT one of the most urgent concerns for today’s organization.

• TRUE

• FALSE

Below are the characteristics of employees that provide the competitive edge EXCEPT.

• Right people to become more competitive on a global basis.

• Right people to apply new information technology for e-business.

• Right people to find the lowest cost for the raw materials.

• Right people to improve quality, innovation, and customer service.