Strategic Management Quiz 01

What is strategic management?

• The process of planning, monitoring, analysis and assessment of all that is necessary for an organization to meet its goals and objectives
• The process of hiring and firing employees
• The process of creating a company's budget
• The process of designing a company's logo

Why is strategic management important for organizations?

• It helps organizations set clear objectives and goals
• It helps organizations to save money
• It helps organizations to avoid legal issues
• It helps organizations to hire the right people

Which of the following is NOT a level of strategy?

• Corporate strategy

• Business strategy

• Tactical strategy

What does PESTEL analysis stand for?

• Profit, Efficiency, Stability, Technology, Economic, Legal

• Political, Economic, Sociocultural, Technological, Environmental, Legal

• Planning, Execution, Sustainability, Tracking, Evaluation, Learning

• Price, Expansion, Sales, Trends, Efficiency, Labor

Which external analysis tool assesses an organization's microenvironment?

• SWOT Analysis
• PESTLE Analysis
• Porter's Five Forces Analysis
• Microenvironment Analysis Tool

The process of selecting an organization's goals and strategies to achieve them is called:

• Marketing
• Sales
• Strategic formulation

• Accounting

What was the earliest focus of strategic management?

• Maximizing profits
• Increasing market share
• Improving product quality
• Military applications

How many cells are in a SWOT matrix?

• 9

• 6

• 3

• 2

A possible and desirable future state of an organisation is called:

• Mission

• Vision

• Strategy implementation

• Strategy formulation

Stability strategy is a ___________strategy.

• Corporate level

• Business level

• Fuctional level

• strategic level