The owner of a chain of supermarkets sets a goal of opening up ten new stores in new locations within the next six years. Which one of the following plans it is?

• A) Long-range
• B) Directional
• C) Short-range
• D) Standing

In the BCG Matrix, which quadrant represents products with high market share in a fast-growing market?

• A) Stars
• B) Question Marks
• C) Dogs
• D) Cash Cows

How an organization distributes its resources across the areas in which it competes is its:

• A) Resource deployment
• B) Distinctive Competency
• C) Effective strategy
• D) Scope

The 'bargaining power of buyers' refers to:

• A) The ability of customers to affect pricing and quality
• B) The competition among existing firm
• C) The threat of substitute products
• D) The ability of suppliers to influence prices

Which one of the following plans has the broadest organizational focus and the longest time frame?

• A) Strategic
• B) Tactical
• C) Directional
• D) Operational

The method by which strategies are operationalized or executed within the organization is called:

• A) Strategy evaluation
• B) Strategy implementation
• C) Strategy formulation
• D) Strategy imitation

Planning is often called the primary management function because it:

• A) Creates the vision for the organizational members
• B) Offers some basis for future decision making
• C) Establishes the basis for all the other functions
• D) Sets the tone for the organizational culture

A situation in which an organization is not implementing valuable strategies that are being implemented by competing organization is called:

• A) Competitive edge
• B) Competitive disadvantage
• C) Distinctive competencies
• D) Competitive parity

Which one of the following is not an element of Management By Objective (MBO)?

• A) Performance feedback
• B) Goal specificity
• C) Implicit time period
• D) Participative decision making

All of the following statements describe the scenario planning except:

• A) To reduce uncertainty by playing potential situations
• B) A consistent view of what the future is likely to be
• C) Easy to use when forecasting random events
• D) Can be described as contingency planning

Which of the following BEST describes directional plans?

• A) Identify general guidelines
• B) Last for 3–5 years
• C) Have clearly defined objectives
• D) Meet the needs of a unique situation

The process of collaborative goal setting by a manager and subordinate; the extent to which goals are accomplished is a major factor in evaluating and rewarding the subordinate’s performance. It is called:

• A) Management by system
• B) Management by resources
• C) Management by authority
• D) Management by objective

Goals that are most probably found in organization charter and in annual reports are called:

• A) Operational goals
• B) Real goals
• C) Tactical goals
• D) Stated goals

An area in the environment that, if exploited, may generate high performance is called:

• A) Opportunity
• B) Threat
• C) Weakness
• D) Strength

An area in the environment that increases the difficulty of an organization’s achieving high performance is:

• A) Strength
• B) Weakness
• C) Opportunity
• D) Threat

Which of the following stage of strategic management process determines; “What the strategy is”?

• A) Evaluation stage
• B) Implementation stage
• C) Execution stage
• D) Formulation stage

Strategy __________ is the process of choosing among different strategies and altering them to best fit the organization's needs.

• A) Control
• B) Implementation
• C) Formulation
• D) Testing

The set of strategic alternatives that an organization chooses from as it conducts business in a particular industry or market is called:

• A) Corporate-level strategy
• B) Functional-level strategy
• C) Market-level strategy
• D) Business-level strategy

Organizations that exploit their distinctive competencies often attain above normal economic performance and obtain:

• A) Distinctive competencies
• B) Common strength
• C) Competitive advantage
• D) Competitive parity

ABC Company is in the process of buying a smaller competitor and incorporating the company's resources into his business. This is an example of which of the following types of strategies?

• A) Retrenchment
• B) Acquisition
• C) Stability
• D) Merger