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Understanding Strategic Management Concepts

Authored by Josephine Appiah-Agyekum

Business

University

Used 1+ times

Understanding Strategic Management Concepts
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of strategy in a business context?

A detailed plan for day-to-day operations.

A long-term plan designed to achieve specific goals.

A short-term financial forecast.

A list of company policies.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a level of strategy?

Corporate strategy

Business strategy

Functional strategy

Operational strategy

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a characteristic of a good strategy?

It is vague and flexible.

It is specific and measurable.

It is based on assumptions.

It is reactive rather than proactive.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is the first stage in strategic management?

Strategy implementation

Strategy evaluation

Strategy formulation

Goal setting

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does strategic management involve?

Only the planning of strategies.

The formulation, implementation, and evaluation of strategies.

The execution of day-to-day tasks.

The management of financial resources.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which level of strategy focuses on how to compete successfully in particular markets?

Corporate strategy

Business strategy

Functional strategy

Operational strategy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary focus of corporate strategy?

Day-to-day operations

Long-term growth and overall scope of the organisation

Marketing and sales tactics

Employee training programmes

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