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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-7 section-2

Each section contains 100 MCQs on Strategic Management .
61
The process of developing a mission statement includes which of these as the first activity?
Discuss
Answer & Solution
Answer: Option B
Solution:
The process of developing a mission statement includes ask managers to read selected articles about mission statements. A mission statement defines what an organization is, why it exists, its reason for being. At a minimum, your mission statement should define who your primary customers are, identify the products and services you produce, and describe the geographical location in which you operate.
62
Which of the following is a skill required by organizations to deal with competitive chaos?
Discuss
Answer & Solution
Answer: Option C
Solution:
The ability to discern patters in the dynamic environment and competitive chaos, and spot opportunities ahead of rivals is a skill required by organizations to deal with competitive chaos.
63
What can be used to promote unbiased views and to manage the development of the mission and vision statement more effectively?
Discuss
Answer & Solution
Answer: Option D
Solution:
A facilitator can be used to promote unbiased views and to manage the development of the mission and vision statement more effectively. Facilitation is defined as an activity designed ‘to make easier, to promote or help forward’. In business, it is about helping people to solve their problems using their own solutions.
64
Which of the following is a characteristic of a customer-driving organization?
Discuss
Answer & Solution
Answer: Option C
Solution:
Responsive is a characteristic of a customer-driving organization. Customer responsiveness measures the speed and quality at which your company provides customer service and communication.
65
An effective mission statement is all of the following except
Discuss
Answer & Solution
Answer: Option D
Solution:
An effective mission statement is all of the following except it is static in orientation. To be effective, mission statements need to clarify the intentions of the business while being inspirational and meaningful to customers and employees. Successful mission statements may take time to create, but when they are developed correctly, they provide a company with clear direction and purpose.
66
What are focus strategies?
Discuss
Answer & Solution
Answer: Option B
Solution:
Focus strategies is that where a company chooses to concentrate on only one market segment or a limited range of segments. A marketing strategy in which a company concentrates its resources on entering or expanding in a narrow market or industry segment. A focus strategy is usually employed where the comopany knows its segment and has products to competitively satisfy its needs. Focus strategy is one of three generic marketing strategies.
67
Which of the following is not a factor in the positioning of an organization in an industry?
Discuss
Answer & Solution
Answer: Option B
Solution:
Rate of growth is not a factor in the positioning of an organization in an industry. A process through which the structure of a multigent system organization increases the number of its roles and links. Organizational growth is essentially a quantitative process.
68
Good mission statements identify the ______ of a firms products to its customers
Discuss
Answer & Solution
Answer: Option A
Solution:
Good mission statements identify the utility of a firms products to its customers. A mission statement is a formal summary that explains what you do, how you do it and why you do it.
69
Heller (1998) suggested organizations must address seven key issues effectively to sustain competitive advantage. Which of the following is not one of those issues?
Discuss
Answer & Solution
Answer: Option D
Solution:
Heller (1998) suggested organizations must address seven key issues effectively to sustain competitive advantage. Speed is not one of those issues.
70
Effective mission statements can vary in
Discuss
Answer & Solution
Answer: Option D
Solution:
Effective mission statements can vary in length, content and format. To be effective, mission statements need to clarify the intentions of the business while being inspirational and meaningful to customers and employees. Successful mission statements may take time to create, but when they are developed correctly, they provide a company with clear direction and purpose.