A successful strategy is one that aligns well with the:

• A) External environment
• B) Organizational structure
• C) Organizational goals and resources
• D) All of the given options

Plans that provide guidelines for activities to be performed repeatedly like policy and procedure are called:

• A) Contingency plans
• B) Standing plans
• C) Short term plans
• D) Single use plans

In the MBO system:

• A) Objectives are determined by management
• B) Goals are used as controls
• C) Goals are only reviewed at the time of completion
• D) Progress is periodically reviewed

Which one of the following options is included in strategic plans?

• A) Participation from all levels
• B) The formulation of objectives
• C) Financial information
• D) Benchmarking

When environmental uncertainty is greater then plan should be:

• A) Specific but flexible
• B) Standing but challenging
• C) Non-directional
• D) Long term but rigid

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

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

The action stage in strategic management process is:

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

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 delegated to the next lower level to be achieved
• C) are directed by top management to achieve these
• D) Become the responsibility of first-line management

The statement that communicates the future aspirations of the organization is called:

• A) Mission Statement
• B) Strategic Objectives
• C) Vision Statement
• D) Action Statement

A company that offers products at a premium price based on high quality and innovation is likely pursuing which strategy to gain competitive edge?

• A) Differentiation
• B) Market penetration
• C) Focus strategy
• D) Cost leadership

A primary benefit of MBO (Management by objective) is:

• A) Avoid competition
• B) Improve employee motivation
• C) Resistance against new entrance
• D) Increase resources

The first step of the project planning process is to:

• A) Determine project completion date
• B) Define the project's goals
• C) Develop an overall project schedule
• D) Identify all the activities in the project

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

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

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

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

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

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

Which one of the following is weakness of MBO?

• A) Clarify priorities and expectation
• B) Foster employee motivation
• C) Coordination of goals and plans
• D) Requires training of employees

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

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

The plans which deal with fairly small set of activities are called:

• A) Strategic plan
• B) Operational plan
• C) Personal plan
• D) Tactical plan

Which of the following is NOT a process for motivating employees through management by objectives (MBO)?

• A) Managers develop action plans
• B) Managers set objectives for the employees
• C) Managers make performance appraisals of employees
• D) Managers and employees periodically review the employee's performance

A plan used to operationalize any other kind of plan is called:

• A) Directional plan
• B) Action plan
• C) Specific plan
• D) Reaction plan