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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-1 section-4

Each section contains 100 MCQs on Strategic Management .
1
In the strategic marketing process, once you get results you go into the:
Discuss
Answer & Solution
Answer: Option A
Solution:
In the strategic marketing process, once you get results you go into the control phase. The evaluation phase is the checking phase. This process involves ensuring that the results of the program are in line with the goals set. The marketing team, especially the manager will need to observe any deviations in the plan and quickly correct negative deviations to get back on course.
2
Ben & Jerry had four market-product strategies to expand sales. They included (1) market penetration, (2) product development, (3) market development and:
Discuss
Answer & Solution
Answer: Option C
Solution:
Ben & Jerry had four market-product strategies to expand sales. They included (1) market penetration, (2) product development, (3) market development and (4) diversification.
3
Aggregating prospective buyers into groups is called:
Discuss
Answer & Solution
Answer: Option B
Solution:
Aggregating prospective buyers into groups is called market segmentation. Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics. The segments created are composed of consumers who will respond similarly to marketing strategies and who share traits such as similar interests, needs, or locations.
4
cohesive marketing mix consists of the product, promotion, price, and
Discuss
Answer & Solution
Answer: Option D
Solution:
Cohesive marketing mix consists of the product, promotion, price, and communication. A cohesive marketing strategy is one that takes all your different platforms of promoting your business and aligns them to the same strategy.
5
One key to effective implementation is setting:
Discuss
Answer & Solution
Answer: Option D
Solution:
One key to effective implementation is setting good managers in motion. Implementing Effective Interventions is a process of assuring that key aspects of promising approaches are put into practice as intended and to meet local needs.
6
When actual performance results are better than what the plan called for, managers should:
Discuss
Answer & Solution
Answer: Option D
Solution:
When actual performance results are better than what the plan called for, managers should increase prices.
7
Which of the following is NOT a characteristic of strategic management that makes it different from other types of management?
Discuss
Answer & Solution
Answer: Option D
Solution:
Characteristic of strategic management that does not makes it different from other types of management is that it concerns the present direction of the organization.
8
The basic activities of strategic management include:
Discuss
Answer & Solution
Answer: Option B
Solution:
The basic activities of strategic management include situation analysis, strategy formulation, implementation, and evaluation. The process of strategic management includes goal setting, analysis, strategy formation, strategy implementation, and strategy monitoring.
9
An organization's strategies should be designed so that they incorporate:
Discuss
Answer & Solution
Answer: Option B
Solution:
An organization's strategies should be designed so that they incorporate resources and capabilities. An organizational strategy is the sum of the actions a company intends to take to achieve long-term goals. Together, these actions make up a company's strategic plan. Strategic plans take at least a year to complete, requiring involvement from all company levels.
10
Situation analysis involves the process of:
Discuss
Answer & Solution
Answer: Option B
Solution:
Situation analysis involves the process of analyzing the current environment of the organization. Situation analysis is defined as an analysis of the internal and external factors of a business. It clearly identifies a business's capabilities, customers, potential customers and business environment, and their impact on the company.