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WorksheetsStrategic management process quiz
Total questions: 24
Worksheet time: 12mins
Which of these requires a firm to establish annual objectives, devise policies, and allocate resources?
Strategic formulation
Strategic evaluation
Strategic implementation
Strategic planning
................... is the process by which a firm manages the formulation and implementation of its strategy.
Total Quality Management
Economic Logic
Micro-management
Strategic Management
Which is not a part of strategy implementation?
International strategy
Structure and control
Strategic Leadership
Entrepreneurship and innovation
Which one of the following is NOT included in the Porter’s Five Forces model:
Rivalry among stockholders
Rivalry among competing firms
Bargaining power of suppliers
Potential development of substitute products
The strategic management process is
a set of activities that will assure a temporary advantage and average returns for the firm.
a decision-making activity concerned with a firm’s internal resources, capabilities, and competencies, independent of the conditions in its external environment.
a process directed by top-management with input from other stakeholders that seeks to achieve above-average returns for investors through effective use of the organization’s resources.
the full set of commitments, decisions, and actions required for the firm to achieve above-average returns and strategic competitiveness.
Which of the following is not a stage of strategy formulation techniques?
Formulation Framework
Decision stage
Matching stage
External factor evaluation
Which of the following is NOT a major element of the strategic management process?
Formulating strategy
Assigning administrative tasks
Implementing strategy
Evaluating strategy
Strategic-management audit is known as:
Strategy control
Strategy evaluation
Strategic implementation
Environmental scanning
Organizing means an identifiable group of people contributing their efforts towards the attainment of same goal. It is important at the time of:
Strategy evaluation
Strategy implementation
Strategy control
Environmental scanning
Political variables have a significant effect on
Strategy formulation and evaluation
Strategy formulation, implementation and evaluation
Strategy implementation and evaluation
Strategy formulation and implementation
Robert Kalpan and David developed the balanced score card in the early as a performance measurement system?
1990
1995
1991
1992
One key to effective implementation is setting :
milestones
good managers in motion
deadlines
schedule of events
What form of strategy formulation would be expected to be found in Defender organisations?
Visionary
Adaptive
Formal planning
Incremental
Strategy-formulation concepts and tools
Do not differ greatly for profit or nonprofit organizations but differ in small and large organizations
Differ greatly for different size and type of organizations
Do not differ greatly for different size and type of organizations
None of the mentioned options
Strategy evaluation at the_____________ level involves using specific performance measures-qualitative and quantitative-for each functional area.
production
operational
organizational
functional
Strategic management process activate in the sequence of_______ .
Environmental scanning, Strategy Implementation, formulation, control and evaluation
Strategy formulation, Implementation, control, evaluation, Environmental scanning
Strategy formulation, Environmental scanning, Implementation, control and evaluation
Environmental scanning, Strategy formulation, Implementation, control and evaluation
Strategic management is an important part of any business which helps with _________ formulation and business decisions.
Strategy
Procedure
Marketing
Tactics
................... focuses on whether the strategy is being implemented as planned and the results produced are those intended.
Strategy analysis
Strategic implementation
Strategic formulation
Strategic control
................ means crafting a combination of strategies and picking out the best one to achieve the organisational goals and objectives and thereby reaching the vision of the organisation.
Strategy implementation
Strategy management
Strategy analysis
Strategy formulation
Strategy implementation focuses on-
Supporting factors
Crafting of strategies
Efficiency
Co-ordination
Strategy formulation requires-
An operational process
Conceptual intuitive and analytical skills
Motivational and leadership skills
None of the answer
An important activity in .............. is taking corrective action.
Strategy leadership
Strategy formulation
Strategy evaluation
Strategy implementation
There are ..................... indispensable phases of every strategic management process.
Three
Seven
Two
Four
A business has absolute control in the ............... (X), whereas it has no control on the ................. (Y)
Select the correct answer from the options given below.
B
A
D
C
