Strategic Management Quiz

According to McKinsey quarterly survey results, 51% of executives of companies with no formal strategic planning

• Dissatisfied compared to 20% of executives of companies with formal strategic planning

• Dissatisfied compared to 20% of executives of companies with formal strategic planning

• Was estimated that only 20% of workers in a company satisfied

• Was estimated that 20% of workers in a company showed some performance

• Showed no difference from the others

The basic difference between mission and vision is

• Planning for the long term

• Focusing on short term

• Focusing on current situation

• Planning for the future

• All statements are correct

The following is not a component of mission statement

• Concern for employees

• Concern for public image

• Concern for survival

• First mover advantage

• Philosophy

Within value chain analysis, there are primary and supportive activities. Which of the following is not a supportive activity?

• Technology development

• Procurement

• HRM

• Infrastructure

• Firm infrastructure

In the process of strategic planning, we conduct external and internal audit to

• Show strengths and weaknesses outside the organization

• Opportunities and threats outside the organization

• Opportunities and weaknesses inside organization

• Strengths and threats outside organization

• Opportunities and threats outside the vision

In IFE and EFE; besides the factors everything is same. The weight represents the importance of factor and rate shows

• Value of factors for organization

• Response of organization toward that factor

• Product development by the organization

• Strategic direction of the organization

• Market share of the organization

One of the following is not a key variable of economic forces, for an organization

• Interest rates

• Unemployment

• Level of disposable income

• Govt. budget deficit

• IT & expectancy rate

When a firm starts a new business that offers products or services that are related or complementary to your existing business, it is called

• Forward integration

• Backward integration

• Related diversification

• Horizontal integration

• Unrelated diversification

Hiring strategies include all the below, except

• Hire unqualified person

• Hire to attract parents

• EZ2 Strategy to attract parents

• School strategy to attract children

• Family support program

The strategy to buy your competitor is called

• Horizontal integration

• Acquisition

• Related diversification

• Integration

• Liquidity