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WorksheetsStrategic Management BBA
Total questions: 15
Worksheet time: 11mins
Developing a vision and a mission statement is important because of the following reasons EXCEPT:
They are useful for large firms only
They establish organizational culture
They are the basis for allocating resources
They translate objectives into work structure
In which of the following phase of strategic management, annual objectives are especially important?
Formulation
Evaluation
Implementation
Management
Which group would be classified as a stakeholder?
Communities
Banks
Suppliers
All of the given options
Defensive strategies include all of the following EXCEPT
Retrenchment
Acquisition
Divestiture
Liquidation
Which of the following is the process of influencing people to accomplish specific objectives?
Staffing
Motivating
Controlling
Organizing
In Competitive Profile Matrix, the rating 4 indicates what?
Major weakness
Major strength
Minor strength
Minor weakness
Internal analysis involves gathering and analyzing the information about all areas of a firm EXPECT:
Research and development
Management information system
Marketing
Competitors
In adapting to change an organization must monitor which of the following?
Ongoing processes
Internal and external events
Timely changes
All of the given options
Which of the following can be considered one of the factors of external opportunities and threats of an organization?
Production/ operations
Research & development
Competitive trends
Management information system
In the process of developing a mission statement, which of the following is CORRECT?
To involve as few managers as possible
To involve as many managers as possible
To involve upper-level management only
To involve the board of directors only
Which of the following is NOT a characteristic of well-constructed goals?
Address important issues
Easy to remember
Precise and measurable
Challenging but realistic
When an industry relies heavily on government contracts, which of the following is important for the firm to foresee as a part of its external audit?
Economic forces
Political forces
Technological forces
Competitive forces
Departmentalization can be done on the basis of many factors EXCEPT:
Functions
Number of employees
Strategic business units
Divisions
Which of the following is the first step in the controlling function of management?
Take corrective actions
Establish performance standards
Restrict breaks employees take
Evaluate expense reports
In which of the following phase of strategic management, annual objectives are especially important?
Formulation
Evaluation
Implementation
Management
