Revision SM

Which of the following statements best describes strategic management?  

• A process consisting of determining objectives and strategic actions to achieve those objectives.

• A process consisting of determining objectives, strategic actions to achieve those objectives, the implementation of desired strategy, and the monitoring of that strategy.

•   A process consisting of the determination of direction, strategic actions to achieve objectives, the implementation of desired strategy, and monitoring of that strategy.

• A process for changing direction, strategic actions to achieve objectives, and the implementation of desired strategy.

The two internal elements of SWOT analysis are______________.  

• weaknesses and threats.

• opportunities and threats.

• strength and weaknesses.

• strengths and threats.

The term corporate strategy concerns strategy and strategic decisions___________.  

• A.          in certain types of organisations.

• A.          at all levels in an organisation.

• A.          developed by the senior management in an organisation.

• A.          in the private sector only.

In Ansoff’s matrix, product development involves going in the direction of ___________.

• present products to present markets.

• present products to present markets.

• new products to present markets.

• new products to new markets.

Based on the below decisions, which of the following refers to a non- programmed decision?                                                             

• A.          procedure for the payment of bonuses.

• A.          a selection of a new manager from candidates using job interview

• A.          a selection of freight routes for product deliveries.

• develop a new product or service

_________is the collection of managerial decisions and actions that determine the long-run performance of an organisation.  

• A.          Planning.

• A.          Goal-oriented management.

• A.          Strategic management.

• A.          leadership.

Why is strategic management important?  

• A.          It has little impact on organizational performance.

• It is involved in many of the decisions that managers make

• A.          Most organizations do not change.

• A.          Organizations are composed of similar divisions and functions.

__________are the organisations major value creating skills, capabilities and resources that determine the organizations competitive weapons.  

• A.          Strength.

• A.          Opportunities.

• A.          Core competencies.

• A.          Weaknesses.

 The merging analysis of internal and external factors influencing the organisations strategy is known as__________.  

• A.          complete studies.

• A.          organizational behavior and theory.

• A.          definitional analysis.

• A.          SWOT analysis.

________are internal environment affecting organisation.  

• A.          Technological.

• A.          Political.

• A.          Cultural

• A.          New leadership