__________ refers to the need for strategists to examine sets of trends, as well as individual trends, in auditing strategy. Ans: The 3 stages are – strategy formulation, implementation and evaluation. Learn how your comment data is processed. One of the main reasons for having a vision is the motivational effect it is supposed to produce on the workforce. Ans: False, 6. Strategic management is an attempt to organize qualitative and quantitative information in a way that allows effective decisions to be made under conditions of uncertainty. One of the fundamental strategy evaluation activities is reviewing external and internal factors that are the basis for current strategies. Sudden change in government, natural calamities, terrorist attacks, industrial disasters etc. Differentiation of competitors product is low, B. Optimizing for tomorrow the trends of today is the purpose of strategic management. An effective leader has average intelligence and is emotional. A strategic leader confines himself to his field of operations and does not possess knowledge about other areas. Both Strategies and policies are directed towards achieving the objectives of an organization. Strategy formulation, B. c) Strategic posturing. ______ is a general set of directions for the organisation to achieve a desirable state in the future. Ans: False, 70. A) It alone should be used in decision-making. Strategy implementation is often considered to be the most difficult stage in the strategic-management process because it requires personal discipline, commitment, and sacrifice. Demographics, C. Formulation, implementation, and evaluation of strategy activities occur at three hierarchical levels in a large organization: corporate, divisional or strategic business unit, and functional. 28. ______ involves casual environmental browsing, reading financial & other newspapers, magazines etc. B) MRP with a new set of computer programs that execute on m... Distribution resource planning (DRP) is: A) a transportation plan to ship materials to warehouses. whereas a mission statement answers, "What do we want to become?". Which of these is achieved by strictly enforcing the reward & punishment strategy for good or bad behavior? A strategic leader needs to control every activity within the organization and does not delegate any work to his subordinates. C K Prahlada is an eminent thinker from ______. Strategic Management Chapter 1 True and False ... Strategy implementation is often considered to be the most difficult stage in the strategic-management process because it requires personal discipline, commitment, and sacrifice. Ans: False, 68. Sorry, your blog cannot share posts by email. Superior strategy formulation is well and good, but it cannot overcome an opponent's superiority in numbers and resources. MCQ Tests for CA Inter in Strategic Management. ________ of the organization can be defined as the reason for existence of the organization and is an insight into the future. The _______________ concept focuses on integrating various business departments to achieve organizational goals. The core competence of Sony is ________. A __________ provides clarity on the objectives of the company. U.S. firms are not being challenged in the computer industry. Business Strategy Multiple Choice Questions (MCQ) and Answers pdf for preparation of academic and competitive examinations. Strategists are usually found in higher levels of management and have considerable authority for decision-making in the firm. (True or False) (True or False) Crises and firefighting in an organization give managers the extra time needed to plan ahead. correct incorrect He should be able to adjust actions and decision-making to focus on critical initiatives and issues. However these interesting MCQ’s on strategic management with answers will also be helpful for students of UG and PG. (True / False) ________ is broad-based and seeks to create an image of the company, basis its core values. (True / False) Ans: True. Two examples of external variables, which influence business policy are ______ and ______. Anything the firm does especially well compared to rival firms could be considered a competitive advantage. Cross boarder relationship, D. Ans: Leadership, 62. AMA/SCM Question Bank for CA Final (New & Old) 16 April, 2020. ADVERTISEMENTS: b. mission . Professionals, Teachers, Students and Kids Trivia Quizzes to test your knowledge on the subject. The ____________ of the firm starts from the concept that a firm’s performance is determined by the resources it has at its disposal. Strategic leaders have a need to be motivated constantly. Subject :- Strategic Management. (True or False) Ans: constantly evaluated, 25. (True or False) Patent law, A. Required fields are marked *. Once an effective strategy is designed, modifications are rarely required. Commitment and understanding are the most important benefits of strategic management. A) It alone should be used in decision-making. A policy is action oriented. Ans: True, 41. Strategic Management Chapter 1 _____ is NOT a strategy-implementation activity. List out the 3 processes involved in strategic management. The ______________ organizational structure viewed as less hierarchical, more decentralized, and more flexible than other structures. Strategy estimation. The VRIN Framework later which was identified as VRIO framework. c) Strength, Workload, Opportunities, Threats Take test on Strategy Implementation with MCQ from Vskills and brush up your skills for golden opportunities and get ready to get certifed! At this time, we expect the total project to cost 89 percent more than planned. Interesting MCQ’s on Strategic Management with Answers, MCQ on Introduction to Labour Law with Answers, MCQ's on Contract of Agency in Business Law, MCQ’s on Succession Planning with Answers, MCQ’s on Contract of Agency in Business Law, MCQ’s on One Person Company as per Companies Act 2015. Ans: Functional strategy, Business strategy and Corporate Strategy, 3. A set of interconnected processes comprise a __________. CTRL + SPACE for auto-complete. According to Albert Einstein, "Knowledge is far more important than intuition. Ans: True, 8. Which is not the method given by H.C. Kalman for reassigning new patterns of behavior? Once a firm acquires a competitive advantage, they are usually able to sustain the competitive advantage indefinitely.
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