Instructions: Change the colour of correct answer to RED
1- Strategic Management (SM) is the Art & science of ________________________
cross-functional decisions that enable an organization to achieve its objectives. a. Formulating, b. Implementing c. Evaluating d. All of the Above 2- The purpose of SM is to exploit and create new and different __________ for tomorrow. a. Leaders b. Opportunities c. Roles d. None of the Above 3- Vision represents ________________________of an Organization. a. Expansion Plan b. Ultimate Aim/objective c. Organizational Structure d. Corporate Social Responsibility 4- Four important elements/tools of Strategy Implementation are (i) Annual Objectives (ii) Policies (iii) Employee Motivation (iv) ______________. a. Marketing Plan b. Resource Allocation c. Shareholders’ Interest d. None of the Above 5- Four important elements/tools of Strategy Evaluation are (i) Internal Review (ii) External Review (iii) _________________(iv) Corrective action a. Employees feedback b. Cost of Sales review c. Performance Measurement d. Production Capacity Review 6- Intuition is based on (i) ______________(ii) Judgement (iii) Feelings a. Past Experience b. Market Reports c. Media Feedback d. Government Regulations 7- Organizations should continually monitor ______________ trends so that timely changes can be made as needed. a. Production and Marketing b. Revenue and Expenses c. Employees’ Satisfaction and Commitment d. Internal and external 8- A strategist tackles information through three stages: (I) Gathering information (ii) analysing information (iii) organizing information 9- Strategic Management is Gaining and Maintaining _______________ a. Market Share b. Profitability c. Competitive advantage d. Market Reputation 10- Fail to plan is ____________ to fail a. Bound b. Destined c. Plan d. Intended