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Strategic Management MCQ Questions and Solutions with Explanations | Management

Strategic Management MCQ Questions and answers with easy and logical explanations. Management provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Strategic Management MCQ is important for exams like MAT, CAT, CA, CS, CMA, CPA, CFA, UPSC, Banking and other Management department exam. Page-10 section-2

Each section contains 100 MCQs on Strategic Management .
91
What or who are Reactors?
Discuss
Answer & Solution
Answer: Option B
Solution:
Organizations which follow industry trends are Reactors. Reactors are organizations in which top management frequently perceive change and uncertainty occurring in their organizational environments but are unable to respond effectively.
92
___________ involves surveillance of a firm's external environment to predict environmental changes to come and detect changes already under way
Discuss
Answer & Solution
Answer: Option A
Solution:
Environmental scanning involves surveillance of a firm's external environment to predict environmental changes to come and detect changes already under way. Environmental scanning is the process of gathering information about events and their relationships within an organization's internal and external environments. The basic purpose of environmental scanning is to help management determine the future direction of the organization.
93
Kets de Vries (1996) suggested strategic leaders have two key roles to play. Which two roles are they?
Discuss
Answer & Solution
Answer: Option D
Solution:
Kets de Vries (1996) suggested strategic leaders have two key roles to play that are Charismatic and Architectural. In the charismatic role, leaders envision a better future and empower and energize their subordinates. In the architectural role, leaders address issues related to organizational design and control and reward systems.
94
_____________ involves the development of projections about the direction, scope, speed and intensity of environmental change
Discuss
Answer & Solution
Answer: Option D
Solution:
Environmental forecasting involves the development of projections about the direction, scope, speed and intensity of environmental change. Environmental forecasting is the process of predicting and calculating the potential intensity, duration, timeframe, and nature of various external forces that can affect the business activities of a company, interrupt its plans, and force it to introduce changes to its objectives and strategies.
95
What form of strategy formation would be expected to be found in Defender organizations?
Discuss
Answer & Solution
Answer: Option A
Solution:
Formal planning form of strategy formation would be expected to be found in Defender organizations. Most of the organizations follows formal planning. It is written and focuses specifically on the long term goals of the organization. The planning which is discussed practically and the details, explanations are noted down helps the organization achieve its objectives smoothly.
96
_________ begins with identifying the industry's dominant economic features and forming a picture of the industry landscape
Discuss
Answer & Solution
Answer: Option B
Solution:
Industry analysis begins with identifying the industry's dominant economic features and forming a picture of the industry landscape. An industry analysis is a business function completed by business owners and other individuals to assess the current business environment. This analysis helps businesses understand various economic pieces of the marketplace and how these various pieces may be used to gain a competitive advantage.
97
Strategy creation involves three strands. Which of the following is not one of the three stands?
Discuss
Answer & Solution
Answer: Option C
Solution:
Strategy creation involves three strands. Entrepreneurship is not one of the three stands. These strategies are cost leadership, differentiation, and focus.
98
In business, __________ generally refers to the fight for market share which serves the same basic customer needs
Discuss
Answer & Solution
Answer: Option A
Solution:
In business, Competition generally refers to the fight for market share which serves the same basic customer needs. Competition is the rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market share growth.
99
Which of the following is not one of the three elements of strategy creation?
Discuss
Answer & Solution
Answer: Option A
Solution:
Sales is not one of the three elements of strategy creation. The environment, the resources of your organisation and the expectations of different stakeholders are three elements of strategy creation.
100
A young industry that is beginning to form is considered to be in __________ stage
Discuss
Answer & Solution
Answer: Option A
Solution:
A young industry that is beginning to form is considered to be in Introduction stage. Demand for the industry's outputs is low at this time because product and/or service awareness is still developing.