____ are the guides to decision Making: Policies

____ can be defined as the alignment of business operation with social values: Corporate Social
Responsibility
____ is a new tool for the systematic review of strategy by board members without directly involving
themselves with the management of companies: Strategic Audit
____ is identifying opportunities and threats affecting the business: Environmental Analysis
____ is not a recognized element of corporate strategy: Competitive Advantage
____ is not an element of VUCA: Unclarity
____ is the collection of managerial decisions and actions that determine the long-run performance of
an organization: Strategic Management
____ is the foundation of the Blue Ocean Strategy: Value Innovation
____ is the slowest way to grow a business: Internal Development
____ is the unique capability that helps an organization in capitalizing upon a particular opportunity:
Distinctive Competence
____ refers to the purposes an organization strives to achieve: Strategic Intent
____ strategy is often considered as an entrepreneurial strategy: Expansion Strategy
A company’s competitve strategy should be ____: Specific
A company’s value chain is ____: The sequence of activities it undertakes to deliver its products or
services to customers
A joint venture can be defined as: Two firms come together to form a third, legally separate firm
A mission statement should be: Be aligned with the company’s values and goals
A possible and desirable future state of an organization is called: Vision
According to the BCG matrix SBU comprising products in an attractive industry but representing little
market share would be referred to as ____: A Question Mark
An organization’s competitive advantage is ____: The resources and capabilities that allow it to
perform better than its competitors
BCG matrix is based on: Growth rate of industry and relative market share
Buying another company by one company means: Acquistion
Cash cows in the BCG matrix symbolize: Liquidate
Competitive advantage can be best described as ____: Increased Efficiency
Corporate Governance is primarily guided by ____: Shareholders
Functional strategies are sometimes called ____: Operational Strategies
How long is the long-term in strategic thinking approximately: More then 5 years
How many cells are there in a SWOT matrix: 9
In Porter’s Generic Strategy Model, a focus strategy involves: Selling to a narrow customer segment
In the BCG Model, “BCG” stands for: Boston Consulting Group
In the sketch of BCG matrix, ____ is the label of the vertical axis: Industry Growth Rate
Low cost, Differentiation and Focus are examples of: Business Strategies
Management thinker like Peter Drucker feel that business definition should strongly focus on the ____:
Customers
Marketing strategy is a ____ type of strategy: Functional
One company buying another company means: Acquisition
Organizations require good people with appropriate skills and abilities to work together effectively to
be successful. Which are the characteristics is not seen as critical for this: Capable
Porter’s Genetrics Strategies are: Cost Leadership, Differentiation, Focus Differentiation, Cost
Focus
Porter’s Value Chain is subdivided into two main headings. These are primary activities and ____:
Support Activities
Product differentiation refers to the ____: Belief by customers that a product is unique
Select the statement which is much more accurate. Value: Is the benefits of a product/service which
is perceived by the customers
Selling all of a company’s assets in parts for their tangible worth is called: Liquidation
Selling all of a company’s assets in parts of their tangible worth is called: Concentric diversification
Stability strategy is a ____ level strategy: Corporate
State the assumptions of Hard human resource management: Employees are that resources can be
used effectively in the search for competitive advantage
State the guides to decision making: Policies
Strategic Management does not involve: Analyzing the external organization
Strategic Management handles ____: External Issues
Strategic Management is the management of an organization’s resources to achieve its: Goals and
Objectives
Suppliers are powerful when ____: They offer a credible threat of forward intergration
The ____ of a company is variously called a statement of philosophy, a statement of beliefs, and a
statement of purpose: Mission Statement
The affairs of the company are directed and controlled through the ____ who represent the
shareholders of the company: Board of Directors
The BCG matrix is based on: Industry Growth Rate and Relative Market Share
The BCG maxtrix is mainly designed to analyze: Long-term strategic planning
The BCG Model is also known as: Portfolio Matrix
The competitive threat model or the five forces model was developed by: Michael E. Porter
The concept of “Strategic Window” was introduced by ____: Derek F. Abell
The corporate level is where top management directs ____: Overall strategy for the entire
organization
The formal-structured approach of SMP is also sometimes called ____ mode: Planning
The fundamental purpose for the existence of any organization is described by its: Mission
The Primary benefit of restructuring is ____: Cost Reduction
The primary focus of Strategic Management is: Whole organization
The process of identifying and addressing ethical issues that arise in an organization is known as ____:
Ethical Decision Making
The process of selecting an appropriate course of an action to achieve organizational goals is known as
____: Planning
The question mark in the BCG matrix symbolizes: Remain diversified
The role of stakeholders include ____: Direct Management, Decision Making, Investments
The sketch of the BCG matrix, ____ is the label of the horizontal axis: Market Share
The strategic management process is: A dynamic process involving the full set of commitments,
decisions, and actions related to the firm
The strategy was developed by the visionary chief executive in which mode of strategic management:
Entrepreneurial mode
The system by which business corporation are directed and controlled is called ____: Corporate
Governance
The term strategy is derived from a ____ word: Greek
The two internal elements of SWOT analysis are ____: Strength and Weakness
The word “strategy” is derived from the Greek word: Strategos
What do “Cash Cow” symbolize in the BCG matrix: Stable
What does DOG symbolize in the BCG matrix: Decline
What does STARS symbolize in the BCG matrix: Growth
What is the primary purpose of a SWOT analysis: To assess the organization's internal capabilities
What is the purpose of a business-level strategy: To achieve a sustainable competitive advantage in
a specific market
What is the starting point of strategic intent: Vision
What type of range is the impact of strategies on the general direction and basic character of a
company: Long-rangenge
What type of strategy is stability strategy: Corporate-level
Which of the following is NOT a benefit a strategic alliances: Increased control over resources
Which of the following is NOT a common type of corporate-level strategy: Market Penetration
Which of the following is NOT a common type of strategic risk: Environmental risk
Which of the following is NOT a factor in Porter’s Five Forces Model: Employee Motivation
Which of the following is not a step in the strategic management process: Monitoring
Which of the following is NOT an external factor that can influence an organization’s strategy:
Organizational structure
Which of the following is the characteristics of human resource management: Teams tend to provide
increased productivity
Which of the following is the potential disadvantage of using a focus strategy: It can result in misses
opportunities outside of the chosen focus area
Which of the following shows concern for non-profit organizations: The markets to service
Which statement best applies to emergent strategies. Emergent strategies ____: Implies an ability to
react to the events
Who is a “stakeholder”: A person who is related with a business
Xerox’s competence in photocopying and Canon’s competencies in optics, imaging and laser control
are examples of ____ competence: Core
Strategy is ____: Partly Proactive & Partly Reactive
The origins of Strategic Management can be retraced to: 1911