MAEL 2

What is the first stage of the strategic management process?

• Strategy Implementation

• Strategy Formulation

• Strategy Evaluation

• Strategy Control

Which of the following is an objective of Cost Leadership Strategy?

• To offer unique products

• To become the lowest-cost producer

• To target a specific market segment

• To create brand loyalty

Which strategy is best suited for a company that excels in innovation?

• Cost Leadership Strategy

• Differentiation Strategy

• Focus Strategy

• Diversification Strategy

What is a key factor in choosing the right strategy?

• Internal Resources and Capabilities

• Government policies

• Random selection

• Market size

What does organizational alignment often require during strategy implementation?

• Changing the mission statement

• • Increasing the number of employees

• Reducing product lines

• Reorganizing departments

Which type of strategy would a company with deep market segment understanding likely choose?

• Cost Leadership Strategy

• • Differentiation Strategy

• Focus Strategy

• Diversification Strategy

In a Differentiation Strategy, what is the primary risk associated with focusing heavily on innovation?

• High resource allocation

• • Inability to maintain cost leadership

• Difficulty in sustaining competitive advantage

• Over-expansion into new markets

Which of the following is NOT typically part of strategy formulation?

• Environmental Scanning

• • Action Planning

• Defining Vision, Mission, and Objectives

• Setting Objectives

Which factor does NOT influence the selection of the strategic management process?

• Internal Resources and Capabilities

• • Market Conditions

• Customer Needs

• Employee Preferences

What does the Action Planning phase involve?

• Performance Measurement

• • Setting timelines and assigning responsibilities

• Monitoring competitors

• Innovation planning