WorksheetsStrategic Management from an Islamic Perspective
Total questions: 10
Worksheet time: 5mins
Which of the following statements is incorrect regarding the word ‘strategy’:
Strategy comes from the Latin word strategia which means art of troop leader or general
Strategy can be defined as a high-level plan to achieve one or more goals under conditions of uncertainty
There are 3 levels of strategy: Corporate strategy level, Business strategy level and Functional strategy level
Strategy is identical with planning
From the different strategy types below, which one involves analyzing data, identifying trends, and taking them to their logical conclusion, and is a favorite among management consultants?
Visionary strategy
Extrapolation strategy
Reactionary strategy
Emergent strategy
Which of the follow statements regarding efficiency and effectiveness is correct?
Efficiency is about doing the right things
Effectiveness is about doing things right
Effectiveness is about getting the most output for the least inputs
Efficiency is related to resource usage that is low in waste
When a manager is expected to handle unexpected events and crises, he is playing the role as a:
Disturbance handler
Disseminator
Figurehead
Resource allocator
Which of the below are the chronological order of stages of strategic management:
Strategy formulation, strategy implementation and strategy evaluation
Strategy formulation, strategy evaluation and strategy implementation
Strategy implementation, strategy evaluation, and strategy formulation
Strategy implementation strategy formulation, and strategy evaluation
Which of the following is not included in usul al fiqh (principles of Islamic jurisprudence) as a source of Shari’ah
The Quran
The Sunnah
Ijma’ or consensus among Muslim jurists
History
In the Battle of Badr of one of the lessons that can be taken and applied as an important business strategy lesson is:
The importance of strategic innovation
The importance of environmental analysis
The importance of speed
The importance of having a succession plan
Which prophet best exemplifies the importance of management during a crisis:
Musa AS
Ibrahim AS
Luth AS
Yusuf AS
Which of the following is not included as one of the cultures of the Prophet Muhammad SAW and his companions?
Musyawarah and participation in dialogue
Cost and time efficiency
Achievement of justice
All of the options provided are included as the culture of Prophet SAW
An Islamic financial institution that emphasizes on excessively marketing their loan-based products to the general public in order for people to take on more debt for consumption purposes is a failure of upholding which objective of Shari’ah?
Educating the ummah
Achieving justice
Achievement of social welfare
There is no issue with excessively marketing loan-based products in Islamic finance
