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Strategic Management

Total questions: 73

Worksheet time: 2hrs 38mins

Name
Class
Date
1.
Which of the following is NOT part of a company's macro-environment?
a)
The company's resource strengths, weaknesses and competitive capabilities.
b)
Economic factors.
c)
Political and Socio-Cultural factors.
d)
Technological factors and Legal conditions.
2.
The most widely used tool for diagnosing the principle competitive pressures in a market is the:
a)
SWOT.
b)
Competitor Profiling.
c)
Five Forces Model.
d)
Market analysis.
3.
Which of the following is generally NOT considered a barrier to entry?
a)
The reaction of incumbent firms to rapid market growth.
b)
Strong brand preferences and a high degree of customer loyalty.
c)
High capital requirements and restrictive government policies.
d)
Strong “network effects” in customer demand.
4.
A company’s strategic plan:
a)
maps out the company’s history.
b)
links the company’s financial targets to control mechanisms.
c)
outlines the competitive moves and approaches to be used in achieving the desired business results.
d)
all of these.
5.

A company’s strategic plan:

a)

links the company’s financial targets to control mechanisms.

b)

maps out the company’s history.

c)

outlines the competitive moves and approaches to be used in achieving the desired business results

d)

All the above

6.

Strategic planning is....

a)

Long term planning

b)

Short term planning

c)

General planning

d)

Seasonal planning

7.

Which is NOT a part of Porters 5 forces?

a)

Bargaining power of Suppliers

b)

Threat of New entrants

c)

Bargaining power of customers

d)

Financial threat

8.

Which is the FIRST step in the strategic Management process?

a)

Monitoring and evaluating strategies

b)

Developing the vision and mission

c)

Strategy formulation

d)

Goals and Objectives

9.

In the BCG matrix , which of the following the strategy is sell off (divest)?

a)

Star

b)

Cow

c)

Question mark

d)

Dog

10.

What does the "S" stand for in PESTLE?

a)

Support

b)

Short term

c)

Social

d)

Subsidiary

11.
Well-stated objectives are:
a)
quantifiable or measurable, and contain deadlines for achievement.
b)
clear, succinct, and concise so as to identify the company’s risk and return options.
c)
directly related to the dividend payout ratio for stockholder returns.
d)
all of these.
12.

When developing strategy for organization, which questions should we ask first?

a)

How we will get there on a daily to weekly basis?

b)

How are our departmental operational plans?

c)

What are our short-term goals and operational objectives? How do we break down a larger strategic goal into workable tasks?

d)

Where do we compete? What unique value do we bring to market? Which resources do we have or need? How do we sustain our value?

13.
What is the last step of the Strategic Management Process?
a)
Formulating Strategies
b)
Implementing Strategies
c)
Evaluating Results
d)
Evaluating Weakness
14.

The internal business environment consists of...

a)

factors that directly impact the organisation

b)

factors that influence the operations of the business

c)

factors that influence the wider environment in which the business operates

15.

An external analysis is the process of scanning and evaluating an organization's various external environmental sectors to determine positive and negative trends that could impact on organizational performance.

a)

True

b)

False

16.
A company’s strategic vision describes:
a)
why the company does certain things in trying to please its customers.
b)
management’s storyline of how it intends to make a profit with the chosen strategy.
c)
management’s aspirations for the future and delineates the company’s strategic course and long-term direction.
d)
what future actions the enterprise will likely undertake to outmaneuver rivals and achieve a sustainable competitive advantage.
17.
Well-stated objectives are:
a)
quantifiable or measurable, and contain deadlines for achievement.
b)
clear, succinct, and concise so as to identify the company’s risk and return options.
c)
directly related to the dividend payout ratio for stockholder returns.
d)
all of these.
18.

Which of the following SWOT elements are external factors for a business?

a)

Strengths and Weaknesses

b)

Strengths and Opportunities

c)

Opportunities and Threats

d)

Weaknesses and Threats

19.

An organisation carrying out its value chain activities at a cost lower than its competitors will enable the organisation to achieve:

a)

Differentiation Strategy

b)

Focus Strategy

c)

Hybrid Strategy

d)

Cost Leadership Strategy

20.

The THREAT section is mainly areas that:

a)

Can be easily removed and turned in to strengths

b)

Cannot be removed or ignored and will need planning to work with or around. Are a potential risk to your development.

c)

Nasty things that have been said to you

d)

Are areas that you threaten your safety

21.

A company’s strategic plan:

a)

links the company’s financial targets to control mechanisms.

b)

maps out the company’s history.

c)

outlines the competitive moves and approaches to be used in achieving the desired business results

d)

All the above

22.

The most widely used tool for diagnosing the principle competitive pressures in a market is the:

a)

SWOT.

b)

Competitor Profiling

c)

Market analysis.

d)

Five Forces Model

23.

What is the meaning of backward vertical integration?

a)

Organization becomes its own supplier

b)

Organization becomes its own distributor

c)

Organization becomes its own seller

d)

Organization becomes its own buyer

24.

Ikea is an example of

a)

A differentiated strategy

b)

A low cost strategy

c)

a market segment focused differentiated strategy

d)

a market-segment cost-focused strategy

25.

Strategic planning is....

a)

Long term planning

b)

Short term planning

c)

General planning

d)

Seasonal planning

26.

Which is NOT a part of Porters 5 forces?

a)

Bargaining power of Suppliers

b)

Threat of New entrants

c)

Bargaining power of customers

d)

Financial threat

27.

Which is the FIRST step in the strategic Management process?

a)

Monitoring and evaluating strategies

b)

Developing the vision and mission

c)

Strategy formulation

d)

Goals and Objectives

28.

At which level of the strategy will the Marketing manager get involved?

a)

Corporate Strategy

b)

Business Strategy

c)

Functional Strategy

d)

Operational strategy

29.

In the BCG matrix , which of the following the strategy is sell off (divest)?

a)

Star

b)

Cow

c)

Question mark

d)

Dog

30.

What does the "S" stand for in PESTLE?

a)

Support

b)

Short term

c)

Social

d)

Subsidiary

31.

Which of the following is not a factor under Porter's Five Forces?

a)

Threat of New Entrants

b)

Threat of New Lecturer

c)

Bargaining Power of Buyers

d)

Bargaining Power of Suppliers

e)

Rivalry among Competitors

32.

What is the purpose of Porter's Five Forces?

a)

Understand the position of your company

b)

Build relationships with customers and suppliers

c)

Investigate the attractiveness of an industry

d)

Evaluate the competitiveness of your company

e)

Earn more profit

33.

The bargaining power of supplier increases when...

a)

There are a few suppliers

b)

The suppliers has good proximity with your company

c)

The suppliers are not in a good terms with your company

d)

The suppliers offers a good variety of products

34.

What does it mean by bargaining power of suppliers?

a)

The suppliers can buy your products at a cheaper price

b)

The suppliers can fix the quantity of the products your purchased

c)

The suppliers have a say on the price of the materials they offer

d)

The suppliers could determine the price of your products

35.

A substitute for a Toyota is...

a)

Train

b)

Carpooling

c)

Honda

d)

All of the above

e)

Bus

36.

The threat to substitute products reduces when...

a)

It is the favourite brand of your mom

b)

There are many substitutes available

c)

Your product is not differentiated from other products

d)

It is expensive to switch to other brands

37.

What does it mean by the Bargaining power of buyer?

a)

The customers will increase their purchases when your price increases

b)

The customers are your boss

c)

The customers can negotiate with your salesperson

d)

The customers can influence your price to become lower

38.

The bargaining power of customers increases when...

a)

There is no switching cost

b)

Your products is very different from your competitors

c)

The buyers purchase in a large bulk

d)

There are only a few buyers

39.

Which of the following industries has the least threat of new entrants?

a)

Tesla

b)

PlayStation

c)

Taylor's University

d)

Tenaga National Berhad (Electricity supply)

40.

An industry with a high barrier to enter is said to have lower _________ in comparison to another industry that can be entered easily.

a)

Bargaining power of suppliers

b)

Bargaining power of customers

c)

Threat of new entrants

d)

Threat of substitute

41.

Which of the following is not a threat?

a)

Depreciation of Ringgit Malaysia

b)

Changing consumers' preferences

c)

High employee turnover rate

d)

New government

42.

In SWOT analysis, "strong relationship with supplier" belongs to...?

a)

Strength

b)

Weakness

c)

Opportunity

d)

Threat

43.

In SWOT analysis, "data leakage" belongs to...?

a)

Strength

b)

Opportunity

c)

Threat

d)

Weakness

44.

In SWOT analysis, "Increase in material cost" belongs to...?

a)

Weakness

b)

Strength

c)

Threat

d)

Opportunities

45.

What is the difference between Vision and Mission?

a)

Vision is what, mission is how

b)

Vision is future, mission is now

c)

Vision is bigger goal, mission is smaller goal

d)

Vision is objective, mission is goal

46.

Which of the following is not a component of the SPACE matrix?

a)

Industrial Strength

b)

Environmental Stability

c)

Environmental Strength

d)

Financial Strength

e)

Competitive Advantage

47.

A SPACE matrix is used to?

a)

Formulate strategies based on position

b)

To improve competitive advantages

c)

To understand internal and external strengths

d)

To determine company's profitability

48.

In the SPACE matrix, which of the following strategy should NOT be recommended for a company that falls under the conservative quadrant?

a)

Hire a celebrity for endorsement

b)

Invest heavily in R&D to develop a new product line

c)

Collaborate with well-known artist

d)

Use extensive distribution channels

49.

In the SPACE matrix, which strategy should be recommended to a company that falls into the defensive strategy?

a)

Discontinue products that are losing money

b)

Improve product quality by using better material

c)

Invest heavily in marketing

d)

Introduce new packaging

50.

Which of the following is not a quadrant under the SPACE matrix?

a)

Defensive

b)

Strategic

c)

Aggressive

d)

Competitive

e)

Conservative

51.
Which of the following is NOT part of a company's macro-environment?
a)
The company's resource strengths, weaknesses and competitive capabilities.
b)
Economic factors.
c)
Political and Socio-Cultural factors.
d)
Technological factors and Legal conditions.
52.
The most widely used tool for diagnosing the principle competitive pressures in a market is the:
a)
SWOT.
b)
Competitor Profiling.
c)
Five Forces Model.
d)
Market analysis.
53.
The nature & strength of the competitive forces that prevail in an industry is generally a joint product of:
a)
competition from rival sellers.
b)
competition from producers of substitute products.
c)
competitive pressures stemming from the bargaining power of suppliers and buyers.
d)
all of these.
54.
Rivalry increases when:
a)
buyer demand is increasing.
b)
when there is excess supply of unused production capacity.
c)
as the products of rival sellers become more strongly differentiated.
d)
all of these.
55.
A company’s strategic plan:
a)
maps out the company’s history.
b)
links the company’s financial targets to control mechanisms.
c)
outlines the competitive moves and approaches to be used in achieving the desired business results.
d)
all of these.
56.
Well-stated objectives are:
a)
quantifiable or measurable, and contain deadlines for achievement.
b)
clear, succinct, and concise so as to identify the company’s risk and return options.
c)
directly related to the dividend payout ratio for stockholder returns.
d)
all of these.
57.

A small coffee shop faces significant potential competition because of the low capital requirements compared with business environments such as universities and laboratories.

a)

True

b)

False

58.
Which of the following is NOT part of a company's macro-environment?
a)
The company's resource strengths, weaknesses and competitive capabilities.
b)
Economic factors.
c)
Political and Socio-Cultural factors.
d)
Technological factors and Legal conditions.
59.
A company’s strategic vision describes:
a)
why the company does certain things in trying to please its customers.
b)
management’s storyline of how it intends to make a profit with the chosen strategy.
c)
management’s aspirations for the future and delineates the company’s strategic course and long-term direction.
d)
what future actions the enterprise will likely undertake to outmaneuver rivals and achieve a sustainable competitive advantage.
60.
A company’s strategic plan:
a)
maps out the company’s history.
b)
links the company’s financial targets to control mechanisms.
c)
outlines the competitive moves and approaches to be used in achieving the desired business results.
d)
all of these.
61.
Which of the following is NOT in the 6 steps process of Strategic Management?
a)
Identifying current mission
b)
Formulate strategies
c)
Evaluate strategies
d)
Identifying number of staff
62.
Base on this image (Facebook&Instagram), what is the type of growth strategy being use?
a)
Related Diversification
b)
Horizontal Integration
c)
Concentration
d)
Vertical Integration
63.
What is the meaning of backward vertical integration? 
a)
Organization becomes its own supplier
b)
Organization becomes its own distributor
c)
Organization becomes its own seller
d)
Organization becomes its own buyer
64.

Organizational culture

a)

is long term plan how to win, visible and changes fast

b)

consist of values, beliefs, behaviors, paradigm (=stories, rituals, power structures, symbols, control systems)

c)

is theory of competitive advantage

d)

fairly easy to copy and defines, what you do, when everyone sees

65.

A mission statement includes identification of an organization's ________.

a)

strengths and weaknesses

b)

purpose and basic philosophy

c)

assets and resources

d)

resources and strengths

66.

Contingency planning identifies the firm’s main business focus over a long-term period.

a)

True

b)

False

67.

The management of a firm would benefit from having ______ in order to effectively handle various possible unexpected business conditions.

a)

Interpersonal plans

b)

Strategic plans

c)

Tactical management

d)

Contingency plans

68.

MBO stands for---------

a)

Management by objectives

b)

Major basic order

c)

Minimum bearing objectives

d)

Management before order

69.
Do leaders have huge influence on organisational culture
a)
Yes
b)
No
70.

How could you define organisational culture?

a)

The way things aren't done round here

b)

Round here, we do nothing

c)

The way things are done round here

d)

What the organisational building looks like

71.

Objectives that are precise and quantifiable

a)

WAIT

b)

SMART

c)

CLEAR

d)

Tactics

72.

_____ is critical in a changing environment

a)

Human Resources

b)

Operations

c)

Marketing

d)

Finance

73.
Looks at likely risks to the business
a)
Contingency Plan
b)
Management Team Plan
c)
Marketing Plan
d)
Industry Overview

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