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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-6 section-2

Each section contains 100 MCQs on Strategic Management .
51
The purpose of a mission statement is to declare all of these except
Discuss
Answer & Solution
Answer: Option B
Solution:
The purpose of a mission statement is to declare all of these except an annual financial plan. The sole purpose of a mission statement is to serve as a company's goal/agenda, it outlines clearly what the goal is.
52
Which of the following is not a characteristic of the Internet?
Discuss
Answer & Solution
Answer: Option A
Solution:
Providing information is not a characteristic of the Internet. The Internet is essentially a decentralized, self-maintained telecom-munications network. It is made up of inter-linking small networks from all parts of the world. It is ubiquitous, borderless, global and ambient in its nature. Hence the term “cyberspace.”
53
As indicated in the strategic-management model, a clear _______ is needed before alternate strategies can be formulated and implemented.
Discuss
Answer & Solution
Answer: Option D
Solution:
As indicated in the strategic-management model, a clear mission statement is needed before alternate strategies can be formulated and implemented. The strategic management model provides managers and strategists a greater comprehension of the iterative approach in conducting real strategic management in the organizational setting. The strategic management model begins with the development of the organizational mission and vision.
54
Which one of the following criteria does not provide a means to assess strategic resources?
Discuss
Answer & Solution
Answer: Option D
Solution:
Synergy criteria does not provide a means to assess strategic resources. Synergy is the concept that the combined value and performance of two companies will be greater than the sum of the separate individual parts. Synergy is a term that is most commonly used in the context of mergers and acquisitions (M&A).
55
Innovation and quality can be seen as which form of management?
Discuss
Answer & Solution
Answer: Option C
Solution:
Innovation and quality can be seen as Operations management. Operations management is the administration of business practices to create the highest level of efficiency possible within an organization. It is concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization.
56
The mission statement answers which question?
Discuss
Answer & Solution
Answer: Option A
Solution:
The mission statement answers- What is our business?. A mission statement is a brief description of a company's fundamental purpose.
57
Which of the following is not one of the four key strategic elements linked to corporate objectives?
Discuss
Answer & Solution
Answer: Option C
Solution:
Research and development is not one of the four key strategic elements linked to corporate objectives. Research and development (R&D) refers to the activities companies undertake to innovate and introduce new products and services. It is often the first stage in the development process. The goal is typically to take new products and services to market and add to the company's bottom line.
58
The vision statement answers which question?
Discuss
Answer & Solution
Answer: Option C
Solution:
The vision statement answers- What do we want to become?
59
In the process of developing a mission statement, it is important to involve
Discuss
Answer & Solution
Answer: Option B
Solution:
In the process of developing a mission statement, it is important to involve as many managers as possible. The mission statement allows everyone in an organization to clearly understand why they are doing their work. An organization's mission also guides its operational plans and describes the organization to potential funders, clients and beneficiaries.
60
Information is defined by Lucas (1976) as
Discuss
Answer & Solution
Answer: Option B
Solution:
Information is defined by Lucas (1976) as some tangible or intangible entity that reduces uncertainty about a state or event.