The fundamental purpose for the existence of any organization is described by its _________

A) Policies

B) Mission

C) Procedures

D) Strategy

ANSWER: B

The acronym SWOT stands for __________

A) Special Weapons for Operations Timeliness

B) Services, Worldwide Optimization, and Transport

C) Strengths Worldwide Overcome Threats

D) Strengths, Weaknesses, Opportunities, and Threats

ANSWER: D

Which of the following is not a characteristic of strategic management that makes it different from
other types of management?

A) It is interdisciplinary

B) It has an external focus

C) It has an internal focus

D) It concerns the present direction of the organization.

ANSWER: D

The fundamental purpose of an organization’s mission statement is to _________

A) Create a good human relations climate in the organization

B) Define the organization’s purpose in society

C) Define the operational structure of the organization

D) Generate good public relations for the organization

ANSWER: B

Which of the following is an issue considered in developing corporate strategies?

A) What business(es) are we in?

C) What resources do we have to implement our strategies?

D) What businesses are we in and what to do with those businesses?

ANSWER: C

Which of the following is NOT a major element of the strategic management process?

A) Formulating strategy

B) Implementing strategy

C) Evaluating strategy

D) Assigning administrative tasks

ANSWER: D

Competitive advantage can best be described as ____________

A) Increased efficiency.

B) What sets an organization apart.

C) A strength of the organization.

D) Intangible resources.

ANSWER: A

When defining strategic management the most important thing to remember is that it is:

A) Not as easy as you think

B) Mainly the province of senior managers

C) A living evolving process

D) More conceptual than practical

ANSWER: C

An organisation’s strategy ___________

A) Remains set in place longer than the mission and objectives

B) Generally forms over a period of time as events unfold

C) Tends to be formed at the same time the mission is developed and objectives are formulated
D) Is usually conceived at a single time when managers sit down and work out a comprehensive
strategic plan for the next 3-5 years

ANSWER: B

The primary focus of strategic management is __________

A) Strategic analysis

B) The total organisation

C) Strategy formulation

D) Strategy implementation

ANSWER: B

Which of the following defines what business or businesses the firm is in or should be in?

A) Business strategy

B) Corporate strategy

C) Functional strategy

D) National strategy

ANSWER: B

Which of the following is not an advantage of strategic management?

A) It provides organisations with a clearer sense of direction and purpose

B) It helps improve the political, economic, social and technological environment of the organisation

C) It helps orientate management decisions to relevant environmental conditions

D) It helps organisations be proactive rather than reactive

ANSWER: B

Which of the following defines how each individual business unit will attempt to achieve its mission?

A) Business strategy

B) Corporate strategy

C) Functional strategy

D) National strategy

ANSWER: A
Business policy is a ___________ to an action

A. Roadmap

B. Guidelines

C. Reference

D. Reward

ANSWER: B

__________ policies are based on traditions

A. Oral

B. Written

C. Implied

D. Explicit

ANSWER: A

_____________ has no existence apart from the ends sought

A. Policy

B. Strategy

C. Plan

D. Objective

ANSWER: B

Strategic management involves planning, implementation and ___________ of an organization's

A. Coordination

B. Communication

C. Staffing

D. Control

ANSWER: D

___________ is the philosophy of management

B. Goal

C. Plan

D. Mission

ANSWER: D

Strategy is __________ and integrated plan

A. Permissive

B. Comphrensive

C. Offensive

D. Defensive

ANSWER: B

________ level strategy is a long term strategy

A. Corporate

B. Functional

C. Competitive

D. Managerial

ANSWER: A

Vision is shared across entire _________

A. Organization

B. Nation

C. World

D. Society

ANSWER: A

___________ are time bound

A. Objectives

B. Mission

C. Visions
D. Goals

ANSWER: D

Competitive advantage __________ an organization

A. Balances

B. Mobilizes

C. Differentiates

D. Identifies

ANSWER: C

Objectives are _____________

A. Refined

B. Reset

C. Redefined

D. Reshaped

ANSWER: C

Strategic plans are formulated by _________ management

A. Top

B. Middle

C. Lower

D. Supervisory

ANSWER: A

Objectives are ___________

A. Many

B. Multiple

C. Various

D. Rigid

ANSWER: B
Oral policies lead to __________

A. Conflicts

B. Process

C. Goals

D. Plans

ANSWER: A

Policies ensure _________

A. Effectiveness

B. Consistency

C. Futuristic

D. Objectivity

ANSWER: B

Strategic management considers strategic __________

A. Choice

B. Intent

C. Art

D. Science

ANSWER: A

__________ refers to long term plans

A. Vision

B. Mission

C. Goals

D. Plans

ANSWER: A

Strategic management helps in earlier identification of ____________ so as to reduce it through

A. Weakness
B. Profits

C. Dividend

D. Shares

ANSWER: A

An organization is said to have competitive advantage if its __________ is higher than the average
profitability for all companies in its industry

A. Revenue

B. Leverage

C. Losses

D. Profitability

ANSWER: D

Strategic Management is a way in which strategists set the __________ and proceed about attaining
them

A. Objectives

B. Goals

C. Plans

D. Policy

ANSWER: A

Analysis of internal environment helps in identifying strengths and __________ of an organization

A. Plans

B. Objectives

C. Goals

D. Weaknesses

ANSWER: D

Excellently formulated strategies will fail if they are not properly ___________

A. Implemented

B. Balanced

C. Attained
D. Identified

ANSWER: A

The strategists need to frame a __________ estimation

A. Qualitative

B. Balanced

C. Quantative

D. Identical

ANSWER: B

A ________ statement tells 'who we are' and 'what we would like to become'

A. Mission

B. Vision

C. Goals

D. Objectives

ANSWER: A

_________ are statements of specific outcomes that are to be achieved

A. Goals

B. Objectives

C. Plans

D. Policies

ANSWER: B

A __________ describes the organization's basic function in society, in terms of the products and
services it produces for its consumers

A. Mission

B. Vision

C. Goals

D. Objectives

ANSWER: A
A clear, business mission should have each of the elements like purpose, values, a strategy, policies
and __________.

A. Objectives

B. Personnel

C. Idelogies

D. Standards of behaviour

ANSWER: D

The ___________ should not be impossible but realistic.

A. Policies

B. Plans

C. Goals

D. Objectives

ANSWER: C

__________ are the general goals of the organisation as described in the memorandum of
association, charter or annual report.

A. Official goals

B. Official plans

C. Official vision

D. Official mission

ANSWER: A

_____________ is a long term plan of action

A) Policies

B) Plans

C) Goals

D) Strategy

ANSWER: D

____________ strategy aims at stable growth

B) Growth

C) Functional

D) Business

ANSWER: A

____________ objectives traditionally include areas such as Finance and administration, marketing
sales, production, operations and human resource management

A. Vision

B. Mission

C. Operational

D. Functional

ANSWER: D

Business firms need to adopt a ____________ process in scanning the business environment

A) Concurrent

B) Futuristic

C) Current

D) Systematic

ANSWER: D

_________ is a four step technique

A) PTQM

B) TQM

C) QUEST

D) IDBI

ANSWER: C

Which one of the following is at the core of strategic management?

A) Choosing which organisational objectives to focus on

B) Being alert for opportunities to change work responsibilities

D) Choosing whether to make decisions autocratically or on the basis of participation

ANSWER: C

The corporate level is where top management directs:

A) All employees for orientation

B) Its efforts to stabilize recruitment needs

C) Overall strategy for the entire organization

D) Overall sales projections

ABSWER: C

The three organizational levels are:

A) Corporate level, business level, functional level

B) Corporate level, business unit level, functional level

C) Corporate strategy level, business unit level, functional level

D) Corporate strategy level, business level, specialist level

ANSWER: A

Strategy Formulation is a creative and __________ process

A. Rigid

B. Analytical

C. Administrative

D. Derivative

ANSWER: B

SWOT analysis is used at _________ intervals

A. Frequent

B. Infrequent

C. Regular

D. Irregular

ANSWER: C
Growth strategies are __________ action plans

A. Fixed

B. Alternative

C. Environmental

D. Written

ANSWER: B

SWOT analysis is ______________

A. Result oriented

B. Cost oriented

C. Future oriented

D. Policy oriented

ANSWER: C

_________ strategy reverses the process of decline

A. Divestment

B. Turnaround

C. Liquidation

D. Retrenchment

ANSWER: B

Strategy formulation links ___________ plans

A. Functional

B. Strategic

C. Short-term

D. Long-term

ANSWER: A

Environmental analysis is a part of __________ analysis

A. Economic
B. Research

C. Forecasting

D. SWOT

ANSWER: D

Environmental ___________ identifies opportunities and threats affecting the business

A. Analysis

B. Scanning

C. Audit

D. Evaluation

ANSWER: B

Stability strategy is _____________

A. Business oriented

B. Safety oriented

C. Time oriented

D. Performance oriented

ANSWER: B

___________ is difficult and undesirable

A. Integration

B. Disinvestment

C. Restructuring

D. Liquidation

ANSWER: D

_________ formulation is mapping the business landscape.

A. Strategy

B. Goals

C. Mission

D. Vision
ANSWER: A

____________ is the price of business survival

A. Goals

B. Policy

C. Performance

D. Adaptability

ANSWER: D

SWOT analysis converts threats into __________

A. Advantages

B. Strengths

C. Weaknesses

D. Goals

ANSWER: A

External growth strategies are ___________in character

A. Defensive

B. Offensive

C. Appreciative

D. Expensive

ANSWER: B

Integration strategy _________ the gap between management and employees

A. Changing

B. Mapping

C. Analysis

D. Bridges

ANSWER: D

Internationalisation strategy leads to __________ strategy

B. Introduction

C. Mature

D. Process

ANSWER: A

_________ strategy is a type of competitive strategy

A. Cost analysis

B. Cost effective

C. Cost leadership

D. Cost adhoc

ANSWER: C

_________ strategy covers the organisation as a whole

A. Corporate level

B. Busines level

C. Strategy level

D. Functional level

ANSWER: A

_________ uses both offensive and defensive strategy

A. Turnaround

B. Stability

C. Research & development

D. Human resource

ANSWER: C

Marketing mix is a _________ of marketing policy

A. Component

B. Plan

C. Policy
D. Goal

ANSWER: A

Which of the following is not part of the micro environment?

A. Technology

B. Shareholders

C. Competitors

D. Publics

ANSWER: A

Which of the following is not a part the Macro Environment?

A. Laws & Policies

B. Demographics

C. Suppliers

D. Social Values

ANSWER: C

Retrenchment strategy is a ________ strategy

A. Defensive

B. Offensive

C. Derivative

D. Divestment

ANSWER: A

_________ strategies tell us what the production department must do to achieve the top aims of the
organisation

A. Marketing

B. Production

C. Finance

D. Human Resource

ANSWER: B
Production strategies decide about the __________ to be made for production.

A. Equity

B. Revenue

C. Financial

D. Investment

ANSWER: D

The fundamental purpose for the existence of any organization is described by its

A. Policies

B. Mission

C. Procedures

D. Strategy

ANSWER: B

The fundamental purpose of an organization’s mission statement is to

A. Create a good human relations climate in the organization

B. Define the organization’s purpose in society

C. Define the operational structure of the organization

D. Generate good public relations for the organization

ANSWER: B

The acronym TOWS stands for

A. Special Weapons for Operations Timeliness

B. Services, Worldwide Optimization, and Transport

C. Strengths Worldwide Overcome Threats

D. Threats, Opportunities, Weaknesses, and Strengths

ANSWER: D

Which of the following is not a characteristic of strategic management that makes it different from
other types of management?
A. It is interdisciplinary.

B. It has an external focus.

C. It has an internal focus.

D. It concerns the present direction of the organization.

ANSWER: D

Which of the following is an issue considered in developing corporate strategies?

A. What business(es) are we in?

B. What direction are we going?

C. What resources do we have to implement our strategies?

D. What businesses are we in and what to do with those businesses?

ANSWER: C

Which of the following is NOT a major element of the strategic management process?

A. Formulating strategy

B. Implementing strategy

C. Evaluating strategy

D. Assigning administrative tasks

ANSWER: D

Competitive advantage can best be described as:

A. Increased efficiency.

B. What sets an organization apart.

C. A strength of the organization.

D. Intangible resources

ANSWER: A

Strategy is developed by the visionary chief executive in ________ mode of strategic management

A. Planning mode

B. Adaptive mode

C. Strategic mode
D. Entrepreneurial mode

ANSWER: D

Stability strategy is a __________ strategy

A. Corporate level

B. Business level

C. Functional level

D. Strategic level

ANSWER: A

What are the means by which long term objectives will be achieved?

A. Strategies

B. Policies

C. Strength

D. Opportunities

ANSWER: A

Marketing strategy is a _________ type of strategy

A. Business level

B. Growth strategy

C. Corporate strategy

D. Functional strategy

ANSWER: D

When an industry relies heavily on government contracts, which forecasts can be the most
important part of an external audit

A. Economic

B. Competitive

C. Political

D. Multinational

ANSWER: C
The possible and desirable future state of an organization is called :

A. Mission

B. Vision

C. Strategy implementation

D. Strategy formulation

ANSWER: B

Selling all of a company's assets in parts for their tangible worth is called :

A. Divestiture

B. Concentric Diversification

C. Liquidation

D. Unrelated integration

ANSWER: C

What are the guides to decision making?

A. Rules

B. Procedures

C. Goals

D. Policies

ANSWER: D

In strategic thinking, how long is the long term, approximately?

A. 1 month to 1 year

B. 2 to 3 years

C. 3 to 5 years

D. More than 5 years

ANSWER: D

Buying another company by one company means:

A. Joint venture
B. Acquisition

C. Amalgamation

D. Merger

ANSWER: B

Which environment can create new market and new business segments?

A. Political environment

B. Economic environment

C. Socio-cultural environment

D. Technological environment

ANSWER: D

The word tactics is most likely to be associated with

A. Business strategy

B. Corporate strategy

C. Operational strategy

D. Cooperative strategy

ANSWER: C

Buyers market exist when

A. Few suppliers in the market

B. Buyers purchases in small volume

C. Buyers purchases in large volume

D. Product of suppliers are unique and differentiated

ANSWER: C

The reasons for diversification is:

A. To reduce competition

B. To increase organizational capabilities

C. To get tax advantage

D. To get quick entry into a business

Strategic management handles:

A. External issues

B. Management issues

C. Internal issues

D. Administrational issues

ANSWER: A

Corporate level strategy deals with:

A. Objectives of specific functions

B. Objectives of single strategic business unit

C. Objectives of the corporate

D. Objectives of specific operations

ANSWER: C

All of the following are key opportunities and threats in external environment because of political,
government and legal forces except:

A. Tax rate

B. Social security program

C. Cross border relationship

D. Patent law

ANSWER: B

Internal audit is done:

A. Before external audit

B. After external audit

C. Parallel to external audit

D. Vertical to external audit

ANSWER: C

Strategy making is an _________ process

B. Analytical

C. Adaptive

D. Selective

ANSWER: B

___________ mode is characterised by reactive approach

A. Selective

B. Adaptive

C. Alternative

D. Supportive

ANSWER: B

Strategic analysis is done in view of ________ environment

A. Extend

B. Time

C. Threat

D. Strengths

ANSWER: A

Strategic choice evaluates strategic ________

A. Support

B. Approach

C. Extend

D. Alternatives

ANSWER: D

_________ frame considers short term and long term implications of a choice

A. Money

B. Value

C. Time
D. Mission

ANSWER: C

________ earn huge cash but their rate of growth is low

A. Cash Cows

B. Dogs

C. Stars

D. Question Mark

ANSWER: A

Michael Porter emphasised _________ of new entrants as a competitive force

A. Strength

B. Threat

C. Opportunities

D. Weakness

ANSWER: B

Matrix structure has excellence in ________ specialisation

A. Inter-disciplinary

B. Discipline-oriented

C. Adaptive

D. Analytical

ANSWER: A

Strategic leadership works within the framework of ________

A. Mission

B. Vision

C. Planning

D. Intuition

ANSWER: A
Instrumental values are appropriate in all ________

A. Integrated

B. Acceptable

C. Analytical

D. Situation

ANSWER: D

The entrepreneurial model is dominated by an active search for __________

A. Opportunities

B. Threats

C. Weaknesses

D. Strengths

ANSWER: A

Decisions in __________ organization are usually fragmented and disjointed

A. Adopted

B. Associative

C. Analytical

D. Adaptive

ANSWER: D

Planning mode involves __________ in anticipation of future statue

A. Decision-making

B. Objective-oriented

C. Planning

D. Choice

ANSWER: A

________ analysis can be done at two levels - corporate and business level

A. Functional

B. Operational
C. Fragmented

D. Strategic

ANSWER: D

Strategic choice involves the _______ to select from among the alternative strategies

A. Choice

B. Decisions

C. Process

D. Objectives

ANSWER: B

Past strategies is a ________ factor

A. Subjective

B. Objective

C. Functional

D. Operational

ANSWER: A

__________ are businesses or products with low market share but which operate in higher growth
markets

A. Cash cows

B. Stars

C. Dogs

D. Question marks

ANSWER: D

__________ cell is based on the pioneering efforts of the General Electric company

A. GE

B. BCG

C. N-ARCH

D. PORTERS
ANSWER: A

___________ highlights the interconnection between seven factors and their role in successful
implementation of strategy

A. Porters model

B. GE cell

C. BCG model

D. 7-S framework

ANSWER: D

_________ involves the selection of a strategy or set of strategies that helps in achieveing
organizational objectives

A. Strategic choice

B. Market share

C. Objectives

D. Value

ANSWER: A

_________ evaluates different courses of action

A. Strategy

B. Strategy implementation

C. Strategic analyst

D. Strategic choice

ANSWER: D

___________ was developed by General Electronic Company, USA

A. BCG Model

B. GE 9 Cell matrix

C. 7S Framework

D. SWOT

ANSWER: B
Mckinsey's 7S Framework includes

A. Systems

B. Stage

C. Signal

D. Shadow

ANSWER: A

Strategic leaders _________ resources

A. Stagnate

B. Use

C. Ration

D. Mobilize

ANSWER: D

Strategic _________ puts plans into actions to reach goals

A. Formulation

B. Implementation

C. Evaluation

D. Control

ANSWER: B

_________ mode plays an important role in strategy making

A. Intuition

B. Feelings

C. Senses

D. Entrepreneurial

ANSWER: A

___________ mode deals with short term goals

A. Planning

B. Adaptive
C. Integrated

D. PEST Analysis

ANSWER: B

Strategic choice determines the __________ strategy of firm

A. Past

B. Present

C. Future

D. Anticipated

ANSWER: C

Michael Porter established ________ competitive forces

A. Two

B. Three

C. Four

D. Five

ANSWER: D

Process implementation moves an idea from __________ to reality

A. Assumption

B. Concept

C. Meaning

D. Assessment

ANSWER: B

________ are high growth businesses or products competing in markets where they are relatively
strong compared with the competition

A. Stars

B. Cash cows

C. Question marks

D. Dogs
ANSWER: A

_________ are low growth businesses or products with a relatively high market share

A. Dogs

B. Cash cows

C. Question marks

D. Stars

ANSWER: B

_________ mode deals with short term goals

A. Planning

B. Adaptive

C. Analytical

D. Integrated

ANSWER: B

Strategic choice determines the ________ strategy of firm

A. Past

B. Present

C. Future

D. Realistic

ANSWER: C

_________ developed the 'five forces model' that determine industry structure

A. Michael Porter

B. Ansoff

C. BCG

D. SWOT

ANSWER: A
________ quadrant in BCG matrix represents business units having a large market share in a mature
industry

A. Stars

B. Cash cows

C. Dogs

D. Question mark

ANSWER: A

PEST analysis is a tool of strategic ______

A. Analysis

B. Formulation

C. Implementation

D. Evaluation

ANSWER: A

_______ is the decision to select from among the alternative strategies considered which will best
meet the organization's objectives

A. Strategic choice

B. Strategic Formulation

C. Strategic Implementation

D. Strategic Evaluation

ANSWER: A

________ is the investigation of the objectives factors considered in the process of strategic choice

A. Strategic formulation

B. Strategic evaluation

C. Strategic implementation

D. Strategic analysis

ANSWER: D

The _________ mode essentially involves decision-making in anticipation of a future state that the
company wants to be in
A. Planning

B. Organising

C. Staffing

D. Directing

ANSWER: A

Strengths and _________ are considered to be internal factors over which you have some measure
of control

A. Values

B. Opportunities

C. Threats

D. Weakness

ANSWER: D

__________ and Threats are considered to be external factors over which you have essentially no
control

A. Weaknesses

B. Values

C. Opportunities

D. Strengths

ANSWER: C

_________ arise when conditions in external environment jeopardize the reliability and profitability
of the organisations's business

A. Threats

B. Strengths

C. Weakness

D. Opportunities

ANSWER: A

_________ are presented by the environment within which our organization operates

A. Weakness
B. Opportunities

C. Strengths

D. Threats

ANSWER: B

The __________ is a tool for managerial analysis and action that provides a structure with which to
consider a company as a whole, so that the organization's problems may be diagnosed and a
strategy may be developed and implemented

A.7-S model

B. BCG matrix

C. Planning model

D. GE 9 cell matrix

ANSWER: A

_________ are commonly held beliefs, mindsets and assumptions that shape how an organization
behaves its corporate culture

A. Analytical

B. Adaptability

C. Strategic choice

D. Shared vales

ANSWER: D

__________ refer to the dominant distinctive capabilities and competencies of the personnel or of
the organization as a whole

A. Knowledge

B. Skills

C. Mission

D. Vision

ANSWER: B

__________ are uncontrollable

A. Threats
B. Strengths

C. Weakness

D. Opportunities

ANSWER: A

Invest in leaders portfolio generates maximum __________

A. Assets

B. Information

C. Values

D. Returns

ANSWER: D

_________ are the qualities that enable us to accomplish the organisation's mission

A. Strengths

B. Weaknesses

C. Threats

D. Opportunities

ANSWER: A

________ are high growth businesses or products competing in markets where they are relatively
strong compared with the competition

A. Stars

B. Cash cows

C. Question marks

D. Dogs

ANSWER: A

_________ are low growth businesses or products with a relatively high market share

A. Dogs

B. Cash cows

C. Question marks
D. Stars

ANSWER: B

_________ mode deals with short term goals

A. Planning

B. Adaptive

C. Analytical

D. Integrated

ANSWER: B

Strategic choice determines the ________ strategy of firm

A. Past

B. Present

C. Future

D. Realistic

ANSWER: C

_________ developed the 'five forces model' that determine industry structure

A. Michael Porter

B. Ansoff

C. BCG

D. SWOT

ANSWER: A

________ quadrant in BCG matrix represents business units having a large market share in a mature
industry

A. Stars

B. Cash cows

C. Dogs

D. Question mark

ANSWER: A
PEST analysis is a tool of strategic ______

A. Analysis

B. Formulation

C. Implementation

D. Evaluation

ANSWER: A

_______ is the decision to select from among the alternative strategies considered which will best
meet the organization's objectives

A. Strategic choice

B. Strategic Formulation

C. Strategic Implementation

D. Strategic Evaluation

ANSWER: A

________ is the investigation of the objectives factors considered in the process of strategic choice

A. Strategic formulation

B. Strategic evaluation

C. Strategic implementation

D. Strategic analysis

ANSWER: D

The _________ mode essentially involves decision-making in anticipation of a future state that the
company wants to be in

A. Planning

B. Organising

C. Staffing

D. Directing

ANSWER: A
Strengths and _________ are considered to be internal factors over which you have some measure
of control

A. Values

B. Opportunities

C. Threats

D. Weakness

ANSWER: D

__________ and Threats are considered to be external factors over which you have essentially no
control

A. Weaknesses

B. Values

C. Opportunities

D. Strengths

ANSWER: C

_________ arise when conditions in external environment jeopardize the reliability and profitability
of the organisations's business

A. Threats

B. Strengths

C. Weakness

D. Opportunities

ANSWER: A

_________ are presented by the environment within which our organization operates

A. Weakness

B. Opportunities

C. Strengths

D. Threats

ANSWER: B
The __________ is a tool for managerial analysis and action that provides a structure with which to
consider a company as a whole, so that the organization's problems may be diagnosed and a
strategy may be developed and implemented

A.7-S model

B. BCG matrix

C. Planning model

D. GE 9 cell matrix

ANSWER: A

_________ are commonly held beliefs, mindsets and assumptions that shape how an organization
behaves its corporate culture

A. Analytical

B. Adaptability

C. Strategic choice

D. Shared vales

ANSWER: D

__________ refer to the dominant distinctive capabilities and competencies of the personnel or of
the organization as a whole

A. Knowledge

B. Skills

C. Mission

D. Vision

ANSWER: B

__________ are uncontrollable

A. Threats

B. Strengths

C. Weakness

D. Opportunities

ANSWER: A
Invest in leaders portfolio generates maximum __________

A. Assets

B. Information

C. Values

D. Returns

ANSWER: D

_________ are the qualities that enable us to accomplish the organisation's mission

A. Strengths

B. Weaknesses

C. Threats

D. Opportunities

ANSWER: A

Conducting variance analysis is a part of strategy _________

A. Formulation

B. Scanning

C. Making

D. Control

ANSWER: D

Social work benefit analysis benefits the _________

A. Employers

B. Employees

C. Society

D. Government

ANSWER: C

Standards can be either qualitative or _________

A. Quantitative

B. Numerical
C. Specific

D. Quota

ANSWER: A

Performance is measured through __________ reporting and communicating systems

A. Staffing

B. Planning

C. Organising

D. Accounting

ANSWER: D

Strategic surveillance is designed to monitor a broad range of __________

A. Calculations

B. Activities

C. Events

D. Shows

ANSWER: C

Computer based models is a technique of strategic _________ control

A. Leap

B. Monitor

C. Regulatory

D. Fixation

ANSWER: A

Budgetary control is a ________ device

A. Management

B. Controlling

C. Discipline

D. Performance

ANSWER: B
Financial synergy puts capital to ______ use

A. Future

B. Optimum

C. Perfect

D. Approximate

ANSWER: B

Synergy bias leads executives to ________ benefits and underestimate the costs of synergy

A. Balance

B. Calculate

C. Assume

D. Overestimate

ANSWER: D

Change is _________

A. Avoidable

B. Inactive

C. Informed

D. Inevitable

ANSWER: D

The purpose of ________ is to evaluate the effectiveness of strategy in achieving organizational

A. Strategic evaluation

B. Strategic control

C. Strategic implementation

D. Strategic formulation

ANSWER: A

The criteria for evaluating strategy can be classified into criteria and ________ criteria
A. Optimum

B. Standard

C. Qualitative

D. Quantitative

ANSWER: D

The first step in the control process is ________

A. Objective generation

B. Setting of standards

C. Goal setting

D. Value analysis

ANSWER: B

_________ is the result of higher utilization of facilities and personnel spreading of overhead
advantages of common learning curves and large lot purchasing

A. Operating synergy

B. Variance

C. Distribution channels

D. Market strategy

ANSWER: A

_________ can occur when products use common distribution channel common sales administration
or common warehousing

A. Operational control

B. Sales synergy

C. Premise

D. Variance

ANSWER: B

_________ is the difference between actual performance and standard performance

A. Variance

B. Premise
C. Optimum

D. Standard

ANSWER: A

In _________ control which measures results after an action is completed

A. Value analysis

B. Pre action

C. Post action

D. Price analysis

ANSWER: C

__________ control is suitable for organizations operating in a relatively stable environment

A. Strategic implementation

B. Strategic evaluation

C. Strategic formulation

D. Strategic momentum

ANSWER: D

When the environment is relatively unstable and dynamic in which various factors change beyond
production ________ control is used

A. Strategic leap

B. Strategic value

C. Strategic decision

D. Strategic planning

ANSWER: A

__________ control is aimed at the allocation and use of organizational resources

A. Optimum

B. Standard

C. Operational

D. Strategic
ANSWER: C

_________ compares the performance of a firm with its own past performance or with other firms

A. Distribution channel

B. Comparative analysis

C. Standard of deviation

D. Resistance to change

ANSWER: B

__________ is a frequently used technique for comparing the performance of a firm over a given
period of time

A.Historical analysis

B. Value analysis

C. Premise

D. Variance

ANSWER: A

________ analysis adopts a total approach rather than focusing on one area of activity or a function
or a department

A. Optimum

B. Standard

C. Comparative

D. Historical

ANSWER: C

_________ techniques like PERT and CPM and their variants are used extensively for planning and
scheduling activities

A. Network

B. Premise

C. Variance

D. Analysis

ANSWER: A
_________ is one of the major components of the firm's product-market strategy

A. Objectives

B. Channels

C. Value

D. Synergy

ANSWER: D

The last step in the control process is _________

A. Strategic surveillance

B. Operational control

C. Taking corrective action

D. Setting of standards

ANSWER: C

_________ is designed to detect deviations from standards and to permit corrective actions before
an operation is fully completed

A. Steering control

B. Internal analysis

C. Exchange control

D. EXternal analysis

ANSWER: A

_________ control serves the purpose of continually testing the assumptions to find other whether
they are still valid or not

A. Variance

B. Premise

C. Standard

D. Optimum

ANSWER: B
Special alert control is a type of ________ control

A. Standard

B. Functional

C. Operational

D. Strategic

ANSWER: D

Concept of synergy is that the whole is ________ than the sum of its parts

A. Greater

B. Lower

C. Standard

D. Volatile

ANSWER: A