Strategic Management MCQ Questions and Solutions with Explanations | Management

A. A request to modify the current document

B. Ask managers to read selected articles about mission statements

C. Ask managers to prepare a mission statement for the organization

D. A merging of several mission statements into one document

A. The ability to share information among all managers

B. The ability to operate efficiently and effectively

C. The ability to discern patters in the dynamic environment and competitive chaos, and spot opportunities ahead of rivals

D. The ability to benchmark competitors

A. an internal group

B. a committee of managers

C. command-and-control

D. a facilitator

A. Innovative

B. Conservative

C. Responsive

D. Unresponsive

A. It reflects judgments about future growth directions that are based upon forward-looking external and internal analyses

B. It provides useful criteria for selecting among alternative strategies

C. It provides a basis for generating and screening strategic options

D. It is static in orientation

A. Where a company focuses on achieving lower costs than its rivals so as to compete across a broad range of market segments

B. Where a company chooses to concentrate on only one market segment or a limited range of segments

C. When a company conducts market research through focus groups to determine how their strategy should be shaped

D. When a company focuses on supplying differentiated products which appeal to different market segments

A. Competitive advantage

B. Rate of growth

C. Market share

D. Size

A. utility

B. price

C. profit margin

D. demand

A. Effectiveness

B. Innovation

C. Costs

D. Speed

A. length

B. content

C. format

D. all of the above