STRATEGIC MANAGEMENT QUIZ

What is the main purpose of an organization’s vision statement?

• Daily activities

• Long-term aspiration

• Employee rules

• Financial reports

A mission statement typically explains:

• Products sold

• Core purpose and activities

• Number of employees

• Office locations

What is the main purpose of an organization’s vision statement?

• Daily activities
• Long-term aspiration
• Employee rules
• Financial reports

A mission statement typically explains:

• Products sold
• Core purpose and activities
• Number of employees
• Office locations

Which tool measures company performance across financial, customer, internal processes, and learning perspectives?

• Benchmarking
• SWOT Analysis
• Balanced Scorecard
• Porter’s Five Forces

What does benchmarking involve?

• Copying strategies
• Comparing performance
• Hiring consultants
• Advertising

In PESTEL analysis, what does the 'T' stand for?

• Teamwork
• Technology
• Training
• Taxes

Which of the following is NOT part of PESTEL analysis?

• Political
• Environmental
• Social
• Finance

In Porter’s Five Forces, which force examines how easy it is for a new company to start competing?

• Threat of Substitute Products
• Threat of New Entrants
• Bargaining Power of Suppliers
• Industry Rivalry

If customers have many choices and can easily switch, their bargaining power is:

• Low
• Medium
• High
• None