Question 1

Which of the following is not a stage of strategy formulation techniques?

Accepted Answer

A)  Formulation Framework
B)  Matching stage
C)  External factor evaluation
D)  Decision stage B

Question 2

"To improve economic strength of society and function as a good corporate citizen on a local, state, and national basis in all countries in which we do business". This is a mission statement that contains:

Accepted Answer

A)  Self-concept
B)  Economic concern
C)  Products or Services
D)  Concern for Public Image D

Question 3

ST Strategies is an important strategy to

Accepted Answer

A)  Match weakness with opportunities of the firm
B)  Overcome external threats
C)  Obtain benefit from its resources
D)  Overcome its weakness and reducing threats B

Question 4

Strategic management process activates in the sequence of

Accepted Answer

A)  Environmental scanning, Strategy formulation, Implementation, c ontrol and evaluation
B)  Strategy formulation, Environmental scanning, Implementation, control and evaluation
C)  Environmental scanning, Strategy Implementation, formulation, c ontrol and evaluation
D)  Strategy formulation, Implementation, control, evaluation, Environmental scanning

Question 5

Which of the following resources is used by all organizations to achieve desired objectives?

Accepted Answer

A)  Financial resources,
B)  Physical resources
C)  Human resources
D)  All of the mentioned options

Question 6

Strategy-formulation concepts and tools

Accepted Answer

A)  Do not differ greatly for different size and type of organizations
B)  Differ greatly for different size and type of organizations
C)  Do not differ greatly for profit or non-profit organizations but differ in small and large organizations
D)  None of the mentioned options

Question 7

Strategic management is

Accepted Answer

A)  A pure science.
B)  Based mainly on intuition.
C)  Needed mainly when organizational performance falls.
D)  Based on the use of quantitative and qualitative information.

Question 8

Strategic-management audit is known as:

Accepted Answer

A)  Environmental scanning
B)  Strategy formulation
C)  Strategy control
D)  Strategy evaluation

Question 9

Annual objectives

Accepted Answer

A)  Are not critical to success
B)  Serve as guidelines for action, directing and channelling efforts and activities of organization members
C)  Are not important for employee motivation and identification
D)  Do not provide a basis for organizational design

Exam 2: Strategic Management and Organizational Success