Corporate Strategy Quiz 1

The term strategy is derived from the __________ word 'strategos'.

Which one is a true statement about a strategy?

• Strategy means a plan of action designed to achieve a long-term goals.

• It is a game plan of any organization to compete with competitors.

• It is an integrated system, which focuses on all departments of an organization.

• All of These

By Environmental Scanning we mean.....

• Monitoring, evaluating, and dissemination of information from the internal and external environments.

• Formulating of long- term plans that would assist in carrying –out organization activities in best possible way

• defined as the way an organization defines its strategy.

• None of these

What is the primary purpose of strategic management?

• To create a competitive advantage over rivals.

• All of These

• To ensure that an organization meets its goals effectively and efficiently.

• To manage day-to-day operations of the organization.

Which of the following best describes SWOT analysis?

• A strategy for improving employee productivity.

• A method for evaluating financial performance.

• None of these

• A tool for assessing an organization's internal strengths and weaknesses, as well as external opportunities and threats.

What role does leadership play in the formulation of strategy?

• Leadership has no significant impact on strategy formulation.

• Leadership is only important during the implementation phase.

• Leadership is crucial as it sets the vision and direction for the organization.

• All of These

It refers to the overall plan and direction a company decides to follow to achieve its long-term goals and objectives.

• Functional Level Strategy

• Corporate Level Strategy

• Business Level Strategy

• Operational Level Strategy

It is basically a competitive strategy and is concerned more with how a business competes successfully in the chosen market.

• Corporate Level Strategy

• Functional Level Strategy

• Business Level Strategy

• Operational Level Strategy

What is the significance of competitive advantage in strategic management?

• It allows a company to outperform its competitors.

• It is irrelevant in today's market.

• It only applies to large corporations.

• All of These

Which of the following is a key component of strategic planning?

• Setting measurable objectives.

• All of These

• Ignoring market trends.

• Focusing solely on financial metrics.