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WorksheetsStrategic Management Worksheet - Multiple Choice Extraction
Total questions: 99
Worksheet time: 50mins
Please read the questions carefully and choose the letter that best correspond your answer. (1pt. each) John is the owner of the manufacturing business, before the operations process he explicitly states that organization objectives will only be achieved if they formulate, implement, and evaluate the decisions across all departments. What concept of management is described in the statement?
Planning
Techniques
Strategic Management
Strategies
Please read the questions carefully and choose the letter that best correspond your answer. (1pt. each) Strategic Management focuses on _________ management, marketing, finance and accounting, production and operations, research and development, and information systems to achieve organizational success.
Assessing
Integrating
Analysing
Checking
Please read the questions carefully and choose the letter that best correspond your answer. (1pt. each) Kathleen started her own clinic and performed the initial activities in developing a vision, mission, and objectives. What concept in strategic management describe in this statement?
Strategy definition
Strategy formulation
Strategy implementation
Strategy evaluation
Please read the questions carefully and choose the letter that best correspond your answer. (1pt. each) During the strategy implementation in the reviewing process of Mr. Molly in his company, what is the best option he needs to choose for better results?
Choosing particular strategies to pursue
Focus on the internal factors
Focus on the external factors
Review all the listed strategies identified by the management.
Please read the questions carefully and choose the letter that best correspond your answer. (1pt. each) Renato is the owner of the newly opened bakeshop in Cavite and establish the annual objectives, devise policies, motivate employees and allocate resources equally to state the way on how to execute strategies. Which concept best describe this process?
Strategy definition
Strategy formulation
Strategy implementation
Strategy evaluation
Please read the questions carefully and choose the letter that best correspond your answer. (1pt. each) Which statement is correct in Strategy Formulation?
Identifying the internal and external factors
Establishing long-term objectives
Generating alternative strategies
All of the above
Please read the questions carefully and choose the letter that best correspond your answer. (1pt. each) Which statement is not correct in strategy implementation?
Developing strategy-selective culture
Linking employee compensation to organizational performance
Developing and using information system
All of the above
Please read the questions carefully and choose the letter that best correspond your answer. (1pt. each) What particular process in the organization is to be done to know how successful or otherwise the implemented strategies?
Strategy definition
Strategy formulation
Strategy implementation
Strategy evaluation
Please read the questions carefully and choose the letter that best correspond your answer. (1pt. each) These are the fundamental strategies in evaluation process except one.
reviewing external and internal factors based on the current strategies
measuring performance
taking corrective actions
None of the above
Please read the questions carefully and choose the letter that best correspond your answer. (1pt. each) Based on the financial benefits, organizations that use strategic-management concepts are generally more happy and successful than those that do not.
True
False
Please read the questions carefully and choose the letter that best correspond your answer. (1pt. each) Some firms do no strategic planning because they believe that there are no monetary rewards for doing so.
True
False
Please read the questions carefully and choose the letter that best correspond your answer. (1pt. each) The success of strategic planning does not lie in formal training.
True
False
Please read the questions carefully and choose the letter that best correspond your answer. (1pt. each) In order for the organization to become successful, they need to be overconfident with their strategic plans.
True
False
These are the reasons why some firms do no strategic planning except one.
Content with current success
View planning as a waste of time, since no product/service is made
Prior bad experience with strategic planning done sometime or somewhere
There is a punishment for doing planning
Cherry is the manager of a clothing boutique in Silang, Cavite; she always anticipated that there are pitfalls in performing strategic management. What do you mean by pitfalls?
Benefits
Profit
Difficulty
None of the above
In the context of our discussion, how many pitfalls do we have in strategic management?
10
12
13
15
This is the concept of understanding right and wrong.
Ethical Behavior
Ethics
Behavior
Attitude
This tends to be good for business and involves demonstrating respect for key moral principles that include honesty, fairness, equality, dignity, diversity, and individual rights.
Ethical Behavior
Ethics
Behavior
Attitude
These are all part of the seven principles of admirable business ethics except one.
Honor all commitments and obligations
Be visually a responsible community citizen
Be open-minded
Be ready
This concept states that the business should act not only to maximize profit but also benefits the society.
Social Responsibility
Ethics
Behavior
Ethical Behavior
_____ companies should adopt policies that promote the well-being of society and the environment while lessening negative impacts on them.
Ethics
Behavior
Ethical Behavior
Socially Responsible
Karen is the general manager of a tissue company and decided to create a design wherein they can minimize the waste and pollution in the environment. What concept in strategic management best describes this situation?
Philanthropic Responsibility
Economic Responsibility
Legal Responsibility
Environmental Responsibility
As the CEO, Ms. Justine created a policy that will promote a healthy working environment wherein everyone is expected to promote fairness and perform ethically in all aspects of business organization. What particular concept best describes this situation?
Philanthropic Responsibility
Economic Responsibility
Ethical Responsibility
Environmental Responsibility
Mr. Khel is the owner of the biggest BPO in the country; he always dreamed to help the community to create a program that will help them make a living. One day, his company launched a livelihood program for the community without any expectation in return. What concept is being described in this situation?
Philanthropic Responsibility
Economic Responsibility
Legal Responsibility
Environmental Responsibility
Mr. Japhet, the operations manager of the largest retail store in the country, believes that while the company is doing good with its stakeholders they need to maximize the shareholders’ interest. What concept best describes this scenario?
Philanthropic Responsibility
Economic Responsibility
Legal Responsibility
The ecological challenge facing all organizations requires managers to ________________ that preserve and conserve natural resources and control pollution.
Create strategies
Formulate strategies
Develop techniques
Discuss program
This refers to a series of voluntary standards in the environmental field.
ISO41000
ISO14000
ISO40001
ISO00014
A set of standards adopted by thousands of firms worldwide to certify to their constituencies that they are conducting business in an environmentally friendly manner.
ISO41000
ISO14001
ISO4000
ISO00014
This refer to the assessment of the business policies, rules and regulations and risk in the organization.
External Audit
Internal Audit
Evaluation
Reengineering
This refer to the analysis of the financial aspect of the business for decision making.
External Audit
Internal Audit
Evaluation
Reengineering
These are the basis for objectives and strategies in business organization except one.
Internal strength and weaknesses
External opportunities and threats
Clear statement of mission
None of the above
Strengths that cannot be easily matched or imitated by competitors are called ________.
Distinctive competencies
Strategies
Techniques
Competencies
________ are designed in part to improve on a firm's weaknesses, turning them into strengths—and maybe even into distinctive competencies.
Distinctive competencies
Strategies
Techniques
Competencies
This concept contends that internal resources are more important for a firm than external factors in achieving and sustaining competitive advantage.
Competitive advantage
Distinctive Advantage
Competencies
Resource based view
This refers to the concept of management which is valid and taught to new members in the organization.
Organizational Behavior
Organizational Attitude
Organizational Culture
Organizational Objectives
This pertains to a strategy formulation tool that summarizes and evaluates the major strengths and weaknesses in the functional areas of a business, and it also provides a basis for identifying and evaluating relationships among those areas.
External factor Evaluation Matrix
Internal Factor Evaluation Matrix
Maxi-Pedia
None of the above
This refers to a strategy tool used to examine company's external environment and to identify the available opportunities and threats.
External Factor Evaluation Matrix
Internal Factor Evaluation Matrix
SWOT Matrix
BCG Matrix
This matrix refer to a strategic management tool which is used to analyze the current position of the divisions and suggest the strategies for the future.
External factor Evaluation Matrix
Internal Factor Evaluation Matrix
Maxi-Pedia
None of the above
Mr. Jowel is the newly appointed manager in the bank, part of his plans is to create objectives to achieve the company's goal. He said that this objective should be consistent and usually from 2 to 5 years. What types of objectives best describe his strategy?
Short-term objectives
Mid-term objectives
Long-term objectives
Planned objectives
Mr. Jess is the general manager of the soft drinks company located in NCR, he believes that in order to succeed in the business operation, the company will only do actions if there are problems. What type of management is described in this situation?
Extrapolation
Crisis
Subjective
Hope
Ms. Camille is the marketing manager in one of the leading coffee shops in the Philippines, in one of her meetings with her subordinates she discussed that to become an effective leader/manager, one must be good in problem solving. What type of management she possesses in this situation?
Extrapolation
Crisis
Subjective
Hope
Mr. Jet is one of the department chairs in a reputable institution in Cavite, he is known as one of the flexible head because he always creates decisions based on his intuition, experience, and judgement on the situation. What type of management is present in this situation?
Extrapolation
Crisis
Subjective
Hope
Ms. Aileen is the operations manager in a manufacturing company, she always makes sure that there is a need to create numbers of actions in the management because if the first actions do not succeed, they need to do second or third attempt to achieve the goal. What type of management did Ms. Aileen possesses?
Extrapolation
Crisis
Subjective
Hope
This business model pertains in gaining ownership or increased control over distributors and retailers.
Market Development
Backward Integration
Forward Integration
Horizontal Integration
The business model that allows the company in seeking increased market share for present products or services in present markets through greater marketing efforts.
Market Development
Market Penetration
Product Management
Horizontal Integration
In this business model, the company must introduce present products or services into new geographic area.
Market Development
Market Penetration
Product Management
Horizontal Integration
What model allows the business to increase control over competitor?
Market Development
Backward Integration
Forward Integration
Horizontal Integration
This model seeks to help the business through selling a division or part of the business and focus on the most profitable aspect.
Related Diversification
Unrelated Diversification
Retrenchment
Divestiture
The business model which is conducted when the company needs to sell all company's assets, in part, for their tangible worth.
Divestiture
Retrenchment
Liquidation
Investiture
What model allows the business to regroup the cost and asset reduction to reverse declining of sales and profit?
Divestiture
Retrenchment
Liquidation
Investiture
This business strategy seeks to answer the question "How to sell more of your existing products or services to your existing customer base?"
Diversification
Market Development
Market Penetration
Product Development
In Five Generic Strategies of Michael Porter, this allows the business to emphasize producing standardized products at a low per-unit cost for consumers who are price sensitive.
Pricing
Low-cost Strategy
Best-Value Strategy
Cost Leadership
This type of strategy aimed at producing products and services considered unique to the industry and directed at consumers who are relatively price insensitive.
Low-Cost Strategy
Best-Value Strategy
Low-cost focus strategy
Differentiation
The strategy that allows the business to offer products or services to a small range of customers at the lowest price available on the market.
Low-cost strategy
Best-value strategy
Low-cost focus strategy
Best-value focus strategy
This business strategy helps the business in answering the question "How to move into new markets with new products or services, increase your sales with your existing customer base as well as acquisition?"
Diversification
Market Development
Market Penetration
Product Development
The business strategy that gives answer in the question "How to develop existing products or services?"
Diversification
Market Development
Market Penetration
Product Development
The strategy that allows the business to offer products or services to a small range of customers at the best price-value available on the market. Sometimes called "focused differentiation,".
Low-cost strategy
Best-value strategy
Low-cost focus strategy
Best-value focus strategy
A strategy that allows the business to know how to enter new markets?
Diversification
Market Development
Market Penetration
Product Development
What are the two types of cost leadership?
Low-cost and best value strategy
Lo-cost focus and best value focus strategy
Related and unrelated diversification
None of the above
This statement pertains to what the business wants to become.
Mission statement
Vision statement
Strategy
Objectives
What is the purpose of adjusting the strategy as a corrective action during strategy evaluation?
To adapt to changes in the external environment or correct unforeseen issues
To discourage strategic flexibility
To eliminate the need for ongoing performance measures
To ensure that the organization sticks to the original plan
Why is it important to communicate corrective actions throughout the organization during strategy evaluation?
To create confusion among employees
To discourage feedback mechanisms
To ensure that employees understand the reasons for adjustments and their role in the process
To maintain a culture of secrecy
In the context of strategy evaluation, what is the significance of employee involvement in implementing corrective actions?
Employee involvement creates resistance to change.
Employee involvement fosters a sense of ownership and commitment to the strategy.
Employee involvement is irrelevant to the success of corrective actions.
Employee involvement is only relevant during the strategy formulation phase.
How can a well-defined escalation process contribute to effective corrective actions in strategy evaluation?
By discouraging open communication within the organization
By limiting the number of individuals involved in the process
By promoting resistance to change
By providing a clear path for reporting and addressing issues at different levels of the organization
What role does strategic leadership play in implementing corrective actions during strategy evaluation?
Strategic leadership has no impact on corrective actions.
Strategic leadership is solely focused on short-term goals.
Strategic leadership limits employee creativity during corrective actions.
Strategic leadership provides a clear vision, guidance, and support for implementing corrective actions.
How does the use of performance reviews contribute to the identification of corrective actions?
Performance reviews are irrelevant to corrective actions.
Performance reviews highlight areas of success and do not contribute to corrective actions.
Performance reviews identify areas of improvement and help guide corrective actions.
Performance reviews provide feedback on strategy formulation only.
What is the potential risk of delaying corrective actions in strategy evaluation?
It accelerates the implementation process.
It eliminates the need for ongoing performance measures.
It may allow issues to worsen, leading to further negative impacts on performance.
It minimizes employee dissatisfaction.
What is a key benefit of engaging in strategic management for organizations?
Improved long-term performance through alignment of strategy and operations
Exclusive focus on daily operational tasks
Guaranteed immediate market dominance
Elimination of the need for performance evaluation
How does strategic management contribute to employee satisfaction and engagement?
By discouraging employee involvement
By limiting employee autonomy
By promoting a culture of secrecy within the organization
By providing a clear vision, fostering a sense of purpose, and involving employees in the decision-making process
How does strategic management contribute to sustainable competitive advantage for organizations?
By encouraging a reactive approach to changes in the external environment
By focusing exclusively on short-term goals
By minimizing the need for external benchmarking
By providing a proactive and forward-looking approach to achieving and maintaining a unique position in the market
Why is ethical behavior important in strategic management?
It contributes to building trust and maintaining the organization's reputation.
It ensures compliance with legal regulations only.
It is irrelevant to the success of strategic management.
It limits organizational flexibility.
What role does ethical leadership play in the context of strategic management?
Ethical leaders focus solely on short-term financial goals.
Ethical leaders foster a culture of dishonesty and deceit.
Ethical leaders guide the organization in making morally sound decisions and setting a positive example.
Ethical leadership has no impact on strategic management.
In the context of strategic management, what does the term "corporate social responsibility" (CSR) refer to?
Eliminating any consideration of the social and environmental impact of business activities
Engaging in activities that benefit the organization's employees and shareholders
Integrating ethical, social, and environmental concerns into business decisions and operations
Only focusing on financial performance to maximize shareholder value
How does a commitment to ethics in strategic management impact long-term sustainability?
It discourages strategic flexibility.
It fosters stakeholder trust, which is essential for long-term success.
It has no impact on long-term sustainability.
It promotes a culture of dishonesty and deceit.
What is the potential consequence of unethical behavior in strategic management?
Enhanced organizational adaptability
Immediate financial success
Increased stakeholder trust
Reputational damage and legal consequences
In the context of strategic management, why is transparency considered an ethical practice?
It builds trust with stakeholders by providing open and honest communication about organizational activities.
It encourages a culture of deception and misinformation.
It limits employee involvement in decision-making.
It promotes secrecy and limited information sharing.
How does consideration of stakeholders' interests contribute to ethical decision-making in strategic management?
It has no impact on ethical decision-making.
It fosters a narrow focus on short-term financial goals.
It ensures that decisions take into account the impact on various groups affected by the organization.
It discourages the involvement of employees in the decision-making process.
What is the role of a code of ethics in strategic management?
To create confusion among employees
To eliminate the need for environmental scanning
To limit the ethical considerations within the organization
To provide guidelines for ethical behavior and decision-making
How can ethical decision-making in strategic management contribute to employee morale?
By fostering trust, fairness, and inclusion, which enhances employees' sense of value and commitment
By discouraging employee involvement in decision-making
By focusing solely on short-term financial outcomes
By promoting secrecy and unequal treatment across teams
What is the potential impact of unethical practices in strategic management on customer loyalty?
Ethical considerations are irrelevant to customer loyalty.
It has no impact on customer loyalty.
Unethical practices may enhance customer loyalty.
Unethical practices may erode customer trust and loyalty.
Why is the consideration of business ethics important in strategic management?
It ensures compliance with legal regulations only.
It fosters stakeholder trust, reputation, and long-term sustainability.
It has no impact on organizational success.
It limits organizational adaptability.
How does a commitment to business ethics influence decision-making in strategic management?
It discourages strategic flexibility.
It encourages decision-making solely based on short-term financial gains.
It guides decision-makers to make morally sound choices that align with ethical principles.
It promotes a culture of dishonesty and deceit.
In the context of business ethics and strategic management, what is the significance of transparency?
Transparency builds trust with stakeholders by providing open and honest communication about organizational activities.
Transparency eliminates the need for stakeholder engagement.
Transparency encourages a culture of deception and misinformation.
Transparency promotes secrecy and limited information sharing.
How does the consideration of ethical practices impact stakeholder relationships in strategic management?
Ethical considerations focus only on shareholder relationships.
Ethical considerations build trust and positive relationships with stakeholders.
Ethical practices may erode trust and damage stakeholder relationships.
It has no impact on stakeholder relationships.
What is the potential consequence of neglecting business ethics in strategic management?
Enhanced organizational adaptability
Immediate financial success
Increased stakeholder trust
Reputational damage, legal consequences, and loss of trust
What role does corporate social responsibility (CSR) play in promoting business ethics in strategic management?
CSR eliminates the need for transparency.
CSR focuses on maximizing shareholder value.
CSR involves integrating ethical, social, and environmental concerns into business decisions and operations.
CSR is unrelated to business ethics.
How can a code of ethics contribute to ethical behavior in strategic management?
A code of ethics creates confusion among employees.
A code of ethics limits stakeholder engagement.
A code of ethics promotes unethical practices.
A code of ethics provides guidelines for ethical behavior, setting expectations for employees and leaders.
What is the significance of ethical leadership in the context of business ethics and strategic management?
Ethical leaders foster a culture of dishonesty and deceit.
Ethical leaders guide the organization in making morally sound decisions, setting a positive example for others.
Ethical leadership has no impact on business ethics.
Ethical leadership promotes a rigid and inflexible approach to strategy.
How does the consideration of ethical practices contribute to organizational culture in strategic management?
It discourages employee involvement in decision-making.
It fosters a culture of secrecy and limited communication.
It fosters a positive work environment, emphasizing integrity, and ethical behavior.
It promotes resistance to change.
What is the role of social responsibility in strategic management?
It focuses solely on short-term financial gains.
It has no impact on organizational success.
It involves integrating ethical, social, and environmental concerns into business decisions and operations.
It promotes a rigid and inflexible approach to strategy.
How does the consideration of social responsibility contribute to organizational reputation in strategic management?
It has no impact on organizational reputation.
Social responsibility builds a positive organizational reputation by demonstrating a commitment to ethical and sustainable practices.
Social responsibility limits organizational adaptability.
Social responsibility may damage organizational reputation.
What is the potential impact of neglecting social responsibility in strategic management?
Enhanced organizational adaptability.
Immediate financial success.
Positive stakeholder relationships.
Reputational damage, legal consequences, and loss of trust.
How can social responsibility contribute to building positive relationships with diverse stakeholders?
By demonstrating a commitment to ethical, social, and environmental concerns
By discouraging stakeholder engagement
By focusing exclusively on shareholder relationships
By promoting a culture of secrecy and limited communication
What is the significance of environmental sustainability in the context of social responsibility in strategic management?
It focuses solely on short-term financial gains.
Environmental sustainability only focuses on the need for transparency.
Environmental sustainability involves considering the impact of business activities on the environment and promoting sustainable practices.
Environmental sustainability only focuses on short-term financial gains.
How does corporate social responsibility (CSR) contribute to organizational competitiveness in strategic management?
CSR enhances organizational competitiveness by demonstrating a commitment to ethical, social, and environmental concerns.
CSR fosters a competitive advantage by focusing solely on financial performance.
CSR has no impact on organizational competitiveness.
CSR promotes a culture of dishonesty and deceit.
Why is stakeholder engagement considered an important aspect of social responsibility in strategic management?
Stakeholder engagement ensures that the concerns and perspectives of diverse stakeholders are considered in decision-making.
Stakeholder engagement fosters a narrow focus on short-term financial goals.
Stakeholder engagement is irrelevant to social responsibility.
Stakeholder engagement promotes resistance to change.
How can a commitment to social responsibility impact employee morale and engagement in strategic management?
It discourages employee involvement in decision-making.
It fosters a positive work environment, emphasizing integrity and social responsibility, contributing to higher morale and engagement.
It has no impact on employee morale and engagement.
It promotes a culture of secrecy and limited communication.
What is the role of ethical leadership in promoting social responsibility in strategic management?
Ethical leadership eliminates the need for stakeholder engagement.
Ethical leadership guides the organization in making morally sound decisions, setting a positive example for others in matters of social responsibility.
Ethical leadership has no impact on social responsibility.
Ethical leadership promotes a culture of dishonesty and deceit.
Why is environmental sustainability important in strategic management?
It focuses solely on short-term financial gains.
It has no impact on organizational success.
It involves considering the impact of business activities on the environment and promoting sustainable practices.
It limits organizational adaptability.
