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WorksheetsCHAPTER QUIZ
Total questions: 30
Worksheet time: 10mins
It serves as guide for decision-making and action.
Strategic Management
Business Policies
Strategy
Tactics
The following are the three vantage points of strategy except:
Strategy formulation
Strategy implementation
Strategic controlling
Strategic labelling
Realized strategy is the product of intended and emerging strategy which is identified as the actual strategy implemented by management
TRUE
FALSE
The following are the characteristics of strategy except:
A grand plan made in anticipation of business competition
Relevant in the context of business completion
Involves a limited program of action and allocation of resources
Decision on organization objectives, resource usage, and allocation
Conflicts between policies and strategies can create organizational success.
TRUE
FALSE
Strategy and policy often clash, making it easier to implement a strategy within the boundaries of existing policy.
TRUE
FALSE
Business policies are operational in nature while strategies are generally directional.
TRUE
FALSE
(a) is the origin of the term strategy.
Business policy emerged from the concept of strategic management.
TRUE
FALSE
Integrating strategy into the management system is crucial for delivering (a) expectation.
The following are the objectives of Strategic Management except:
Put the organization in a competitive position
Monitor and respond to environmental changes
Sustain and improve the designation by acquiring appropriate resources
Meet the demands of key stakeholders
The following are the key questions for Organizational Strategies except:
What decisions are open to the organization
Where is the organization going?
How can it be done?
What is the best way forward?
Macro environment includes:
Political, Economic, Socio-cultural, Technological, Legal, Environmental
Political, Economic, Society, Technological, Legal, Environmental
Political, Economic, Society, Technical, Legal, Environmental
Political, Economic, Socio-economic, Technological, Legal, Environmental
STEPS IN WHICH TOP MANAGEMENT SHOULD ACCOMPLISH TASK
1. Analyze External Factors
2. Analyze Internal Factors
3. Establish Mission and Goals
4. Formulate Strategies
5. Implement Strategies
6. Strategic Control
1. Analyze Internal Environment
2. Analyze External Environment
3. Establish Mission and Goals
4. Formulate Strategies
5. Implement Strategies
6. Strategic Control
1. Analyze External Environment
2. Analyze Internal Environment
3. Establish Mission and Goals
4. Formulate Strategies
5. Implement Strategies
6. Strategic Control
1. Analyze External Environment
2. Analyze Internal Environment
3. Establish Mission and Goals
4. Formulate Strategies
5. Strategic Control
6. Implement Strategies
Highly Rated Benefits: Sharper (a) on what is strategically important.
Companies with broad product lines that focus on product innovation and market opportunities.
Reactors
Analyzers
Defenders
Prospectors
Companies that lack a consistent strategy-structure-culture relationship.
Reactors
Prospectors
Analyzers
Defenders
Business organizations operating in stable and variable product market areas.
Analyzers
Prospectors
Defenders
Reactors
Strategy focuses on long-term goals while tactics are more operational.
TRUE
FALSE
STRATEGY VS TACTICS
Tactics: Employed at lower levels of management
Strategy: Developed at the highest levels of management
TRUE
FALSE
STRATEGY VS TACTICS
Strategy: Limited range of alternatives
Tactics: Total possible range of alternatives is greater
TRUE
FALSE
Strategies are formulated from a ___________ viewpoint
Functional
Departamental
Corporate
Unit based
The following are the four Generic Approaches to Strategy except:
Classical Approach
Systematic Approach
Evolutionary Approach
Procedural Approach
Processual Approach emphasizes the imperfect and sticky nature of human (a) .
Systematic Approach is a relativistic approach, considering the _____ and ______ of strategy
start and ends
ends and means
ends and value
start and means
Characteristics of Strategic Decisions (Wheelen and Hunger)
Rare, Consequeces, Directive
Rare, Consequeces, Directed
Rare, Consequential, Directed
Rare, Consequential, Directive
Modes of Strategic Decision-Making which is made by one powerful individual.
Entrepreneurial Mode
Adaptive Mode
Planning Mode
Logical Mode
Combines systematic analysis, search for opportunities, and individual decision-making
Entrepreneurial Mode
Adaptive Mode
Logical Mode
Planning Mode
Step 6: Generate, Evaluate, and Select the (a) Alternative Strategy
Step 8: Evaluate and Implement Strategies via (a) systems
