Strategic Management MCQ Questions and Solutions with Explanations | Management

To state objectives is not a role for a planner as discussed by Robinson (1986).

Organization is called as a bundle of resources. An organization is a group of people who work together, like a neighborhood association, a charity, a union, or a corporation. Organization is also the act of forming or establishing something (like an organization).

Market segmentation is not en element of the growth/market options matrix developed by Ansoff (1987). The Ansoff Matrix was developed by H. Igor Ansoff and first published in the Harvard Business Review in 1957, in an article titled "Strategies for Diversification." It has given generations of marketers and business leaders a quick and simple way to think about the risks of growth.

Cost base is not a key planning element of spheres of influence. The cost base of a capital gains tax (CGT) asset is generally the cost of the asset when you bought it, plus certain other costs associated with acquiring, holding and disposing of the asset.

Strategic audit assesses the whole strategic management process. A strategic audit is an in-depth review to determine whether a company is meeting its organizational objectives in the most efficient way. Additionally, it examines whether the company is utilizing its resources fully. A successful strategic audit is beneficial to any company.

Internal analysis of an organization deals with investigation of organizational strengths and weaknesses by focusing on factors which are relevant to it. An internal analysis is an exploration of your organization's competency, cost position and competitive viability in the marketplace. Conducting an internal analysis often incorporates measures that provide useful information about your organization's strengths, weakness, opportunities and threats – a SWOT analysis.

Finance and other resource availability is one of the factors related to the issue of the feasibility of a strategy. Financial resources is a term covering all financial funds of the organization. From an economic perspective financial resources are the part of the organization’s assets (property).

Corporate strategies are also known as grand or root strategies. A corporate strategy entails a clearly defined, long-term vision that organizations set, seeking to create corporate value and motivate the workforce to implement the proper actions to achieve customer satisfaction.

Financial factors is not one of the contextual aspects that have a critical impact on strategic change. A factor is an intermediary agent that finances receivables. A factor is essentially a funding source that agrees to pay the company the value of an invoice less a discount for commission and fees.

Growth strategy is much talked and publicized in the present Indian environment. A growth strategy is a plan of action that allows you to achieve a higher level of market share than you currently have. Contrary to popular belief, a growth strategy is not necessarily focused on short-term earnings—growth strategies can be long-term, too.