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BUSINESS POLICY/STRATEGY/STRATEGIC MANAGEMENT

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

The word strategy comes from the Greek word ______________

a)

'strategis'

b)

'strategos'

2.

The word strategy comes from the Greek word 'strategos' which means ___________.

a)

'art of general'

b)

'art of social science'

c)

'art of profession'

3.

Strategy is a __________________ plan.

a)

specific long term

b)

comprehensive long term

4.

"________________ is a plan of action or policy designed to achieve a major or overall aim"-

a)

Strategy

b)

Objectives

5.

Strategy is applicable to all _________________ areas.

a)

Functional

b)

Financial

c)

Mechanical

6.

Strategy is ____________ oriented.

a)

future

b)

past

c)

present

7.

"We appoint credit card for a period of 14 days only" is an example of ____________________.

a)

Business Policy

b)

Strategy

c)

Strategic Management

8.

____________ are general statements of principles that guide managers and employees in decision-making and action.

a)

Business policies

b)

Organisational Culture

c)

Strategic Management

d)

Marketing Policies

9.

Every business organization need to frame appropriate business policies for its ___________________

a)

Operational Areas

b)

Functional areas

c)

Fundamental Areas

d)

Strategic Areas

10.

Business Policies are ___________________ statements for attaining the goals

a)

Narrow

b)

Broad

11.

Business Policies are based on ______________________

a)

Organizational Philosophy

b)

Assumptions

c)

Family Philosophy

12.

Business Policies are ____________________ in nature.

a)

specific

b)

Multi-purpose

13.

Business Policies should be _______________.

a)

Flexible

b)

Static

14.

Business Policies helps ___________,________________________ and ____________

a)

Individual, Associates and Society

b)

Managers, employees, and stakeholders

15.

___________________ is the stream of decisions and actions which lead to the development of an effective strategy or strategies to achieve corporate objectives.

a)

Human Resource Management

b)

Strategic Management

c)

Financial Management

16.

Strategic Management is a systematic _________________ process.

a)

One time

b)

Static

c)

Continious

17.

Strategies in an organisation are formulated by ______________________ management.

a)

Middle-level management

b)

Lower level management

c)

Top-level management

18.

Strategic management considers _________________ term horizon.

a)

Long

b)

short

c)

meduim

19.

Top-level management requires more of ________________ skills.

a)

Interpersonal

b)

Conceptual

c)

Technical

20.

Proper formulation of strategy helps in reduction of _____________.

a)

Profits

b)

Disputes

c)

Efficiency