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

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

The set of strategic alternatives that an organization chooses from its operations across several industries and several markets is called:

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

What does distinctive competence refer to in SWOT analysis?

• A) Unique strengths that allow an organization to outperform its rivals
• B) The general efficiency of an organization
• C) The ability to maintain the status quo in a competitive market
• D) The ability to copy competitors' strategies

What does the "competitive rivalry" factor refer to in Porter’s Five Forces model?

• A) The power of suppliers in the market
• B) The bargaining power of customers
• C) The intensity of competition among existing firms
• D) The likelihood of new entrants into the industry

All of the following are steps in objective setting EXCEPT:

• A) Specify deadlines
• B) Prioritize goals
• C) Link rewards to effort
• D) Allow the employee to actively participate

Operational plans are normally associated with which of the following organizational levels?

• A) Functional level
• B) Business level
• C) International or global level
• D) Corporate level

Which of the following stage of strategic management focuses on; “how the strategy is achieved”?

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

The task of getting all activities done on time, within budget, and according to specifications is:

• A) Project scheduling
• B) None of the given
• C) Project planning
• D) Project management

Which of the following is a process that involves managers from all parts of the organization in the formulation of strategic goals?

• A) Strategic management
• B) Strategic positioning
• C) Strategic organizing
• D) Strategic planning

In traditional goal setting, the goals are set at the top level of management and after that they:

• A) Are broken down into sub goals for each level of the organization
• B) are directed by top management to achieve these
• C) Are delegated to the next lower level to be achieved
• D) Become the responsibility of first-line management

Which of the following is the statistical plan for planned activities in future?

• A) Break-even analysis
• B) Budget
• C) Linear program
• D) All of the given options

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

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

A skill and capability held by numerous competing firms is called:

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

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

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

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

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

All of the following statements describe the scenario planning except:

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

Plans which are as short a period as 1 week or as long as 1 year are:

• A) Strategic plan
• B) Tactical Plan
• C) Operational plan
• D) Standing plan

The SWOT approach assesses an organization's:

• A) Strengths, Weaknesses, Opportunities, Threats
• B) Signs, Worries, Objectives, Techniques
• C) Studies, Workflows, Opportunities, Trials
• D) Speed, Wants, Order, Timing

Which of the following types of plans are highly interdependent and must take into account the resources and capabilities of the entire organization and its external environment?

• A) Tactical plans
• B) Strategic plans
• C) Operational plans
• D) Budgetary plans

Which one of the following is strength of MBO (Management by Objective)?

• A) Overemphasis of quantitative goals
• B) Requires training of employees
• C) Clarify priorities and expectation
• D) Tends to falter without strong commitment