1. Procedure is developed or designed by A. Line Managers B. Top Management C. Operator D. Government Answer: Line Managers 2.A____ is a series of steps to be followed. A. Policy B. Strategy C. ProcedureD. Coordination Answer: Procedure 35 offers guidelines for managers to take appropriate decisions. A. Business Policy B. Strategic Management C. Corporate Governance D. Risk Management Answer: Business Policy 4. A performance rating system is A. Ratings for last years objectivesB. The extent to which the work objectives met C. Yearly achievements during specified period D. A grade or score relating to the overall performance Answer: A grade or score relating to the overall performance D5 is the type of business policy according to the Nature of Origin. A. Originated Policy B. Imposed Policy C. Appealed Policy D. All of the aboveAnswer: All of the above 6. is NOT the type of business policy According to the Mode of Expression. A. Implied Policy B. Oral Policy C. Appealed Policy D. Written Policy Answer: Appealed Policy 7. is the type of business policy according to the structure of the organization. A. Internal Policy B. External PolicyC. Recruitment and selection policy D. All of the above Answer: All of the above 8. Basic Policy, Major Policy and Minor Policy are the types of Business Policies according to A. Origin B. Importance C. Structure D. Scope Answer: All of the above9. According to the Scope, business policies can be classified into A. General, Specific & Directive Policy B. Internal & External Policy C. Oral, Written & Implied Policy D. All of the above Answer: All of the above 10. can be defined as the decision to select from among the grand strategies considered, the strategy which will best meet the enterprise’s objectives. A. Business Policy B. Strategic ManagementC. Strategic Choice D. Risk Management Answer: Strategic Choice 11. The timescale for performance appraisals is usually - A. Quarterly B. Monthly C. One Year D. Three Years Answer: One Year 12. Objective-based rating scales areA. Rating scales allocated by Manager B. Measures of performance against objectives set C. Ratings subjectively determined D. All of the above Answer: Measures of performance against objectives set 13. is a formal document outlining the ways in which an organization intends to conduct its affairs and act in specific circumstances. A. Corporate Strategy B. Policy StatementC. Blue Ocean Strategy D. Procedure Statement Answer: Policy Statement 14. In Business Policy & Strategic Management (BPSM), SAC stands for A. Strategic Advantage of Company B. Structural Analysis & Comparison C. Strategic Analysis Code D. Strategy Analysis and Choice Answer: Strategy Analysis and Choice 15. The word “Policy” is derived from the french word meaning ‘civil administration’.A. Politeia B. Policie C. Polity D. Policium Answer: Policie 16. In BPSM, is guide to action. A. Strategy B. Procedure C. Law D. PolicyAnswer: Policy 17. The word Policy originated in Latin from the Greek word meaning ‘citizenship’. A. Politeia B. Policie C. Politica D. Policio Answer: Politeia 18. The fundamental purpose for the existence of any organization is described by its A. Business Mission B. Strategic ManagementC. Business Policy D. Corporate Strategy Answer: Business Mission io acts as a guide in decision making process. A. Policy B. Procedure C. Strategy D. Governance Answer: Policy 20. is the mode of thought and theprinciples underlying the activities of an organization or an institution A. Policy B. Business C. Strategy D. Management Answer: Policy 2 refers to the exchange of commodities and services for increasing utilities A. Policy B. Strategy C. BusinessD. Management Answer: Business 22. In Business Policy & Strategic Management, SWOC stands for A. Strength Weakness Options Challenges B. Strategy Weakness Opportunity Challenge C. Strengths Weaknesses Opportunity Clarity D. Strengths Weaknesses Opportunities Challenges Answer: Strengths Weaknesses Opportunities Challenges 23% may be written, oral or implied.A. Policy B. Procedure C. Document D. Letter Answer: Policy 24. are always in writing. A. Policy B. Procedures C. Decisions D. None of the aboveAnswer: Procedures 25. Policy is more than procedure. A. Rigid B. Flexible C. Clear D. Easy Answer: Flexible 26. Policy is the creation or design of A. Line Managers B. Top Management C. OperatorD. Government Answer: Top Management 27. Competitive advantage can be best described as A. Increased Efficiency B. What sets an organization apart. C. A strength of the organization D. Intangible Resources Answer: Increased Efficiency 28. is the foundation of the Blue Ocean Strategy.A. Innovation B. Value Creation C. Value Innovation D. Value-cost Trade-off Answer: Value Innovation 29. The concept of ‘Strategic Window’ was introduced by A. Michael Porter B. Peter Drucker C. Gray Hamel D. Derek F. AbellAnswer: Derek F. Abell 30. Functional strategies are sometimes called A. Process Strategies B. Corporate Strategies C. Business-unit level Strategies D. Operational Strategies Answer: Operational Strategies 31. Corporate Governance is primarily guided by A. Customers B. ShareholdersC. Board of Directors D. Employees Answer: Shareholders 32. is a new tool for the systematic review of strategy by board members without directly involving themselves with the management of companies A. Strategic Review B. Management Review C. Strategic Planning D. Strategic Audit Answer: Strategic Audit33. The of a company is variously called a statement of philosophy, a statement of beliefs, and a statement of purpose. A. Mission Statement B. Vision Statement C. Quality Principles D. Policies Answer: Mission Statement 34. can be defined as the alignment of business operations with social values. A. Corporate Governance B. Corporate Social ResponsibilityC. Business Policy D. Sustainability Answer: Corporate Social Responsibility 35._——_is the unique capability that helps an organization in capitalizing upon a particular opportunity. A. Core Competence B. Distinctive Competence C. Strategic Competence D. Threshold Competence Answer: Distinctive Competence36. In the BCG Model, ‘BCG’ stands for A. Business Communication Gap B. Business Consulting Group C. Benchmark Consulting Group D. Boston Consulting Group Answer: Boston Consulting Group 37. The BCG model is also known as A. Johari Window B. Evaluation Matrix C. Generic Strategy Model D. Portfolio MatrixAnswer: Portfolio Matrix 38. The competitive threat model or the five forces model was developed by A. Gray Hamel B. Peter Drucker C. Michael E. Porter D. K. Prahlad Answer: Michael E. Porter 39. What does STARS symbolize in the BCG matrix ? A. IntroductionB. Growth C. Maturity D. Decline Answer: Growth 40. What does DOG symbolize in the BCG matrix? A. Introduction B. Growth C. Maturity D. Decline Answer: Decline 41. The BCG matrix is mainly designed to analyzeA. Current strategy of the organization B. Long-term strategic planning C. Short-term strategic planning D. Revenue generated by the organization Answer: Long-term strategic planning 42. is not an element of VUCA. A. Volatility B. Unclarity C. Complexity D. AmbiguityAnswer: Unclarity 43. is identifying opportunities and threats affecting the business. A. Environmental Analysis B. Organizational Analysis C. Industry Analysis D. Competitive Analysis Answer: Environmental Analysis 44. is the collection of managerial decisions and actions that determine the long- run performance of an organization. A. PlanningB. Leadership C. Strategic Management D. Corporate Management Answer: Strategic Management 45. In the sketch of the BCG matrix, is the label of the vertical axis. A. Market Growth Rate B. Business Strength C. Market Share D. Industry Growth Rate Answer: Industry Growth Rate46. The formal-structured approach of SMP is also sometimes called mode. A. Execution B. Adaptive C. Planning C. Opportunistic Answer: Planning 47. The system by which business corporation are directed and controlled is called A. Corporate Governance B. Corporate Social ResponsibilityC. Strategic Management D. Organizational Planning Answer: Corporate Governance 48. The affairs of the company are directed and controlled through the who represent the shareholders of the company. A. Board of Directors B. Senior Management C. Middle Management D. Managing Director and Chief Executive Officer Answer: Board of Directors 49. Management thinkers like Peter Drucker feelthat business definition should strongly focus on the A. Shareholders B. Suppliers C. Customers D. Employees Answer: Customers 50. Xerox’s competence in photocopying and Canon's competencies in optics, imaging and laser control are examples of competence. A. Strategic B. ThresholdC. Distinctive D. Core Answer: Core