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3.1 Business Environment and Strategy (BES) (Section - B)

Corporate Strategy Formulation

11 Unit : Practice Multiple Choice Questions (MCQs)

Submissions
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Question 1
Which individuals are most responsible for an organisation’s success or failure?

Response: Financial planners

Correct answer: Strategists

Score: 0 out of 1 No

Question 2
What is the art and science of conceiving, executing, and assessing cross-functional choices that enable a company to accomplish its goals?

Response: Strategy evaluation

Correct answer: Strategic management

Score: 0 out of 1 No

Question 3
In the Porter’s Five Forces model, which of the following is NOT included:

Response: Bargaining power of suppliers

Correct answer: Rivalry among stockholders

Score: 0 out of 1 No

Question 4
What does it mean to be a “stakeholder”?

Response: A person who is the owner of a company.

Correct answer: Someone who works in the business world.

Score: 0 out of 1 No

Question 5
Which of the following is not a strategic management benefit?

Response: It assists in aligning management choices with current environmental circumstances.

Correct answer: It contributes to the organisation’s improvement of its political, economic, social, and technological environment.

Score: 0 out of 1 No

Question 6
Which of the following is a factor that is taken into account while formulating business strategies?

Response: What are our plans for the future?

Correct answer: What resources do we have to put our strategies into action?

Score: 0 out of 1 No
Question 7
Which of the following is NOT a key component of strategic management?

Response: Evaluating strategy

Correct answer: Evaluating strategy

Score: 1 out of 1 Yes

Question 8
Which of the following best describes the type of business (or types of companies) that the company is in or should be in?

Response: Corporate strategy

Correct answer: Corporate strategy

Score: 1 out of 1 Yes

Question 9
Top management directs at the corporate level:

Response: For orientation, all workers

Correct answer: a comprehensive strategy for the entire company

Score: 0 out of 1 No

Question 10
The mission statement of an organisation’s primary goal is to:

Response: define the organisation’s operating structure

Correct answer: define the organisation’s social mission

Score: 0 out of 1 No