Question 1

What do you understand by the term 'strategic direction'?

Accepted Answer

A)   'Strategic direction' refers to the underlying intent of a strategy, e.g. growth, consolidation, market entry or diversification.
B)   'Strategic direction' refers to the leadership offered by the senior management team of an organisation.
C)   'Strategic direction' refers to the general direction in which an industry as a whole is moving.
D)   'Strategic direction' refers to the direction the organisation would like to move in the next five years. A

Question 2

Which one of the following is not a major concern of strategic management?

Accepted Answer

A)   Strategic options
B)   The marketing mix
C)   Organisational resources and competencies
D)   Mission and objectives
E)   The external environment B

Question 3

What do you understand by the term 'strategic drift'?

Accepted Answer

A)   Progressive failure of strategies to address the strategic position of the organisation
B)   Where an intended strategy is unrealised
C)   Emergent approach to strategy
D)   Sudden failure of strategies to address the strategic position of the organisation A

Question 4

Which of the following statements is least likely to apply to strategic decisions?

Accepted Answer

A)   They affect operational decisions.
B)   They are simple in nature.
C)   They are made in situations of uncertainty.
D)   They involve considerable change.

Question 5

Strategic choices are concerned with the impact on strategy of the the external environment, an organisation's strategic capability and the expectations of stakeholders.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is not one of the types of strategy identified in the hierarchy of strategies?

Accepted Answer

A)   Business level strategy
B)   Market level strategy
C)   Corporate level strategy
D)   Operational level strategy

Question 7

Which of the following is a criterion for distinguishing operational, tactical and strategic decisions?

Accepted Answer

A)   Cost of implementation
B)   Who is responsible for implementation
C)   Time taken to make decisions
D)   Type of decision
E)   Scope of the decision's impact on the organisation

Question 8

Which type of strategy is concerned with the overall purpose and scope of an organisation?

Accepted Answer

A)   Corporate- level strategy
B)   Operational strategy
C)   Business- level strategy
D)   Strategic- business- level strategy

Question 9

Which term is used for the overall purpose of the organisation?

Accepted Answer

A)   Goal
B)   Vision
C)   Mission
D)   Strategic capability

Question 10

Which of the elements of the Exploring Corporate Strategy model involves understanding the underlying bases for future strategy at both the business unit and corporate levels and the options for developing strategy in terms of both the directions and methods of development?

Accepted Answer

A)   Strategic choices
B)   Strategy in action
C)   Strategic position
D)   Strategic planning

Question 11

The strategic capability of the organisation is made up of resources and competences.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is not one of the strategy lenses that offer different ways of looking at the issues of strategy development for an organisation?

Accepted Answer

A)   Inspiration
B)   Ideas
C)   Discourse
D)   Design
E)   Experience

Question 13

Which of the following do/es not help explain why strategy implementation is often difficult to achieve in the way intended?

Accepted Answer

A)   The problems associated with marketing new products
B)   The complex range of changes involved
C)   Changes in the external environment
D)   The difficulties of planning for unintended outcomes
E)   Poor understanding of the strategy by those implementing it

Question 14

Which of the following groups' interests are given greatest importance when developing strategy in business organisations?

Accepted Answer

A)   Suppliers
B)   Shareholders
C)   Employees
D)   Customers

Question 15

The analytical approach of specialised planning departments was poorly able to cope with the more dynamic and competitive world that emerged in the late 1970s.

Accepted Answer

A) True 
 B)False

Question 16

Managers must communicate strategy to their teams and will achieve greater performance from them the more convincing they are in interpreting it.

Accepted Answer

A) True 
 B)False

Question 17

Operational level strategy is about how to compete successfully in particular markets.

Accepted Answer

A) True 
 B)False

Question 18

In the private sector, strategy making is dominated by pursuit of which of the following objectives?

Accepted Answer

A)   Corporate social responsibility
B)   New product development
C)   Market share
D)   Profits

Question 19

Which three of the following elements make up the Exploring Corporate Strategy model?

Accepted Answer

A)   Strategic planning
B)   Strategic position
C)   Strategy in action
D)   Strategic choices

Question 20

Which type of strategy is most likely to relate to the expectations of the shareholders and the stock market?

Accepted Answer

A)   Corporate- level
B)   Strategic- business- level
C)   Business- level
D)   Operational

Exam 1: Introducing Strategy

What do you understand by the term 'strategic direction'?

Which one of the following is not a major concern of strategic management?

What do you understand by the term 'strategic drift'?

Which of the following statements is least likely to apply to strategic decisions?

Strategic choices are concerned with the impact on strategy of the the external environment, an organisation's strategic capability and the expectations of stakeholders.

Which of the following is not one of the types of strategy identified in the hierarchy of strategies?

Which of the following is a criterion for distinguishing operational, tactical and strategic decisions?

Which type of strategy is concerned with the overall purpose and scope of an organisation?

Which term is used for the overall purpose of the organisation?

Which of the elements of the Exploring Corporate Strategy model involves understanding the underlying bases for future strategy at both the business unit and corporate levels and the options for developing strategy in terms of both the directions and methods of development?

The strategic capability of the organisation is made up of resources and competences.

Which of the following is not one of the strategy lenses that offer different ways of looking at the issues of strategy development for an organisation?

Which of the following do/es not help explain why strategy implementation is often difficult to achieve in the way intended?

Which of the following groups' interests are given greatest importance when developing strategy in business organisations?

The analytical approach of specialised planning departments was poorly able to cope with the more dynamic and competitive world that emerged in the late 1970s.

Managers must communicate strategy to their teams and will achieve greater performance from them the more convincing they are in interpreting it.

Operational level strategy is about how to compete successfully in particular markets.

In the private sector, strategy making is dominated by pursuit of which of the following objectives?

Which three of the following elements make up the Exploring Corporate Strategy model?

Which type of strategy is most likely to relate to the expectations of the shareholders and the stock market?