Time allowed: 20 Minutes

Worabe University

Test on Strategic Management (Dep’t of Management)

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Part I: choose the best answer among the following alternatives (2 point each)

1. Which one of the following is the reason for firms not to do strategic planning, Except?
A. Poor reward and structure C. Proper utilization of time
B. Too expensive D. Fire fighting
2. At which stage of SM, translation of strategic thought will come into strategic action?
A. Strategic evaluation C. Strategic implementation
B. Strategic formulation D. None of the above
3. Anything that a firm does especially well compared to rival firm is known as?
A. Strategies C. Mission
B. Competitive advantage D. Opportunity
4. __________answer the reason for the existence of the organization?
A. Mission statement C. Vision
B. Program D. All of the above
5. __________ are largely beyond the control of a single organization-thus they are called
external audit.
A. Opportunity and threat C. Strength and weakness
B. Long term and annual objectives D. None of the above
6. Which one of the following is excluded under strategic management element?
A. Environmental scanning C. Strategy evaluation
B. Strategy formulation D. None of the above
7. The process of conducting research and gathering and assimilating external information is
known as?
A. Industry analysis C. A and B
B. Environmental scanning D. None of the above
8. A means by which annual objectives will be achieved is through
A. Annual objective C. Strategies
B. Long term objective D. Polices

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 Time allowed: 20 Minutes

Part II: Essay part (2 point each)

1. Mention and discuss strategic management approaches in detail?

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2. Briefly discuss the advantage of strategic management?

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