Strategic Management MCQ Quiz

Hierarchy of Strategic Intent: i. Vision > Mission > Goals > Objectives > Plans ii. Mission > Vision > Goals > Objectives > Plans iii. Plans > Vision > Mission > Goals > Objectives iv. Goals > Vision > Mission > Objectives > Plans i) iii) iv) ii)

Answer explanation

The correct hierarchy of Strategic Intent is ii) Mission > Vision > Goals > Objectives > Plans

An organisation strategy ___

Answer explanation

should align with the overall goals and objectives of the organization to ensure success

The primary focus of strategic management is

Answer explanation

The primary focus of strategic management is to achieve long-term goals and competitive advantage by analyzing internal and external factors, setting objectives, and implementing strategies.

Strategic Management handles

Answer explanation

Strategic Management handles the formulation and implementation of major goals and initiatives taken by an organization's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes.

Retrenchment is

Answer explanation

the process of reducing costs or workforce in a company to improve financial performance

Sustained survival implies

Answer explanation

that an entity or organism can continue to exist over a prolonged period of time

What is the starting point of Strategic Intent?

• Goal

• Objective

• Vision

• Mission

Answer explanation

The starting point of Strategic Intent is the Goal, as it sets the direction and purpose of the organization's efforts.

Competitive advantage can be best described as

• Increased efficiency

• What sets an organisation apart

• A strength and the organisations

• Intangible resources

Answer explanation

Competitive advantage can be best described as what sets an organisation apart, highlighting the unique qualities that differentiate it from others in the market.

Divestment is what kind of strategy?

• An asset-reduction strategy

• A weakness-reduction strategy

• A product-reduction strategy

• A cost-reduction strategy

Answer explanation

Divestment is an asset-reduction strategy, involving the sale or liquidation of assets to streamline operations or focus on core activities.

The following are considered grand strategies, except for

• A retrenchment strategy

• Strategic business unit

• A growth strategy

• Related diversification

Answer explanation

The correct choice is 'Strategic business unit' because it is not considered a grand strategy, unlike the other options.