1. The document describes a 35 question quiz on strategic management concepts. 2. The quiz covers topics like strategy formulation, implementation, Porter's five forces, the balanced scorecard, and international strategies. 3. Multiple choice questions with answers are provided for concepts in business strategy, corporate strategy, and operational strategy.

1. 13/10/2017 DIGVIJAI , SHARADA , SRAVANI 1
Quiz
By
Ms. Sravani (12001)
Ms. K. Sharada (12010)
Mr. S.Digvijai Srinag Sai (12020)

2. 13/10/2017 DIGVIJAI , SHARADA , SRAVANI 2
Phase -1
MCQ’s

3. 1) Which of the following statements regarding strategy formulation and
strategy implementation is the most accurate?
A. Neither strategy formulation, nor strategy implementation can
succeed without the other.
B. Strategy formulation is more important than strategy implementation.
C. Strategy implementation is more important than strategy formulation.
D. Neither strategy formulation, nor strategy implantation can have a
significant impact on firm performance.
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 3

4. • Answer:
A ) Neither strategy formulation, nor strategy
implementation can succeed without the other.
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5. 2) Which one is not a part of strategy
formulation?
A. Business level strategy
B. Corporate level strategy
C. Competitive dynamics
D. Corporate governance
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6. • Answer:
D) Corporate Governance
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7. 3) Which is not a part of strategy
implementation?
A. Strategic Leadership
B. Entrepreneurship & Innovation
C. Structure & Control
D. International Strategy
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8. • Answer
D) International strategy
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9. 4) Which of the following is not a limitation of
SWOT (Strengths, Weaknesses, Opportunity,
Threats) analysis?
A) Organizational strengths may not lead
to competitive advantage
B) SWOT gives a one-shot view of a
moving target
C) SWOT's focus on the external
environment is too broad and integrative
D) SWOT overemphasizes a single
dimension of strategy
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10. • Answer
C) SWOT's focus on the external environment is
too broad and integrative
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11. 5) Which of these requires a firm to establish
annual objectives, devise policies, and allocate
resources?
A. Strategy formulation
B. Strategy implementation
C. Strategy evaluation
D. Strategy manipulation
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12. • Answer
A) Strategy formulation
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13. 6) A marketing department that promises delivery quicker than
the production department's ability to produce is an example
of a lack of understanding of the
A) synergy of the business units.
B) need to maintain the reputation of the company.
C) organizational culture and leadership.
D) interrelationships among functional areas and firm
strategies.
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14. • Answer:
D) interrelationships among functional
areas and firm strategies.
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15. 7) Which of the following is not one of the three
fundamental questions addressed by corporate strategy?
A. In what business will we compete?
B. How can we, as a corporate parent, add
value to our various lines of business?
C. How will diversification or our entry into a
new industry help us to compete in our other industries?
D. How can we best position our operations to
compete against present and future rivals within a
particular business?
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16. Answer :
D. How can we best position our operations
to compete against present and future rivals
within a particular business?
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17. 8) XYZ Corp. is centering on the objective of low-cost, high quality,
on-time production by curtailing idle productive facilities and
workers. The XYZ Corp. is taking advantage of a ____________
system.
A) Just-In-Time (JIT)
B) Last In, First Out (LIFO)
C) First In, First Out (FIFO)
D) Highly mechanized
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18. • Answer :
Just-In-Time (JIT)
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19. 9) Which is not a part of international strategy lifecycle?
A. Product Demand Develops and Firm Exports
Products
B. Firm Introduces Innovation in Domestic Market
C. Production Becomes Standardized and is Relocated
to Low Cost Countries
D. Diversification Strategy
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20. • Answer
D) Diversification Strategy
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21. 10) The process of conducting research and
gathering and assimilating external information
is called:
• A. Mission development
• B. Long range planning
• C. Industry analysis
• D. Lobbying
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22. • Answer:
C. Industry Analysis
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23. 11) The five elements of the strategy diamond
are technologies, vehicles, differentiators,
staging, and economic logic.
A. True
B. False
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24. • Answer :
False
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25. 12) ________ is the process by which a firm
manages the formulation and implementation
of its strategy.
A. Total Quality Management
B. Strategic Management
C. Micro Management
D. Economic Logic
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26. • Answer:
B. Strategic Management
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27. 13) The term _________ is used to refer to strategy
formulation, implementation, and evaluation, with
_________referring only to strategy formulation.
A. Strategic planning; strategic management
B. Assessment; planning
C. Strategic management; strategic planning
D. Management cycle; brainstorming
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28. • Answer:
C ) Strategic Management ; Strategic
Planning
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29. 14) The two most critical questions that
__________ strategy must address are how a
company will achieve its objectives today, when
other firms may be competing to satisfy the same
customer's needs and how the firm plans to
compete in the future.
A. Corporate
B. Functional
C. Operational
D. Business
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30. • Answer:
C) Operational
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31. 15) All of these are pitfalls an organization should
avoid in strategic planning except:
A. Using strategic planning to gain control
over decisions and resources.
B. Failing to involve key employees in all
phases of planning.
C. Hastily moving from mission
development to strategy formulation.
D. Using plans as a standard for measuring
performance.
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32. • Answer :
A. Using strategic planning to gain
control over decisions and resources.
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33. 16) The competencies or skills that a firm
employs to transform inputs into outputs are:
A) tangible resources.
B) intangible resources.
C) organizational capabilities.
D) reputational resources.
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34. • Answer:
C) Organizational Capabilities
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35. 17) An array of firm resources include interpersonal
relations among managers in the firm, its culture, and its
reputation with its customers and suppliers. Such
competitive advantages are based upon
A) physical uniqueness.
B) path dependency.
C) social complexity.
D) tangible resources.
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36. • Answer:
C)social complexity.
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37. 18) A company's ability to meet its short-term
financial obligations is measured by which of the
following categories?
A) liquidity ratios
B) profitability ratios
C) activity ratios
D) leverage ratios
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38. • Answer :
A) liquidity ratios
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39. 19) The "balanced scorecard" supplies top managers with
a _____________ view of the business.
A) long-term financial
B) detailed and complex
C) simple and routine
D) fast but comprehensive
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40. • Answer
D) fast but comprehensive
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41. 20) The term strategic planning refers only to
strategy formulation.
A. True
B. False
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42. • Answer
True
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43. 21) __________ are the individuals who are
most responsible for the success or failure of an
organization.
A. Strategists
B. Consultants
C. Operatives
D. Ethics Officers
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44. • Answer
A. Strategists
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45. 22) The problem of limited resources within a
firm makes ______________ particularly
important as the firm decides how to allocate its
resources.
A. Long-range planning
B. Short-term planning
C. Strategy formulation
D. Strategy implementation
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46. • Answer:
C. Strategy formulation
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47. 23) All of the following are elements of the
strategy diamond except
A. Vehicles
B. Advantages
C. Arenas
D. Staging
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48. • Answer:
B. Advantages
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49. 24) Within the strategy diamond ______ refer(s) to
decisions about the areas in which a firm will be
active including its products, services, distribution
channels, market segments, geographic areas,
technologies, and even stages of the valuecreation
process
A. Vehicles
B. Arenas
C. Differentiators
D. Economic logic
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50. • Answer
D. Economic Logic
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51. 25) The action stage of strategic management is
called strategy formulation.
A. True
B. False
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52. • Answer
False
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53. 26) The mission statement answers which
question?
A. What is our business?
B. Why is our business?
C. How is our business?
D. what is our possition?
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54. • Answer
A. What is our business?
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 54

55. 27) Technological advancements can create
new________ advantages that are more
powerful than existing advantages.
A. Cost advantage
B. Profit advantage
C. Competitive
D. Differentiation
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56. • Answer
C. Competitive
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57. 28) Which of following option is not related to
blue ocean strategy ?
A) Create uncontested market space
B) Beat the competition
C)Create and capture new demand
D) Break the value cost trade - off
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58. • Answer:
B) Beat the competition
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59. 29) What is not one of Michael Porter's five
competitive forces?
A. Bargaining power of customer
B. Threat of substitutes
C. Bargaining power of unions
D. Intensity of Rivalry among established firms
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60. • Answer
C. Bargaining power of unions
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61. 30) According to Porter, what is usually the
most powerful of the five competitive forces?
A. Risk of entry by potential competitors
B. Bargaining power of suppliers
C. Bargaining power of buyers
D. Intensity of Rivalry among established firms
E. Threat of substitutes
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62. • Answer
D. Intensity of Rivalry among established firms
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63. 31) The "advance work" in the strategic
management process is comprised of
A)strategy formulation.
B)strategy implementation.
C)strategic posturing.
D)strategy analysis.
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64. Answer
A)strategy formulation.
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65. 32) An independent group of suppliers, such as
farmers, gather to form a cooperative in order
to sell their products to buyers directly,
replacing their previous distributor. This is an
example of
A)forward integration.
B)backward integration.
C)threat of substitute products.
D)threat of entry.
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66. Answer
A)forward integration.
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67. • 33) The process whereby a firm determines
the costs associated with organizational
activities from purchasing raw materials to
manufacturing products to marketing those
products is called?
A) Value chain analysis
B) Supply chain analysis
C) Cost chain analysis
D) Product chain analysis
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68. • Answer
A) Value chain analysis
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69. 34) The overall aim of the Balanced Scorecard is
to balance financial objectives with strategic
objectives.
A. False
B. True
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70. • Answer:
A. False
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71. 35) Burger King opening its first restaurant in
Japan is an example of which type of strategy?
A. Market Development
B. Promotion strategy
C. Development strategy
D. Diversification strategy
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72. • Answer
A. Market Development
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73. 36) Web sites to sell products directly to
consumers are examples of which type of
strategy?
A. Forward integration
B. Backward integration
C. No integration
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 73

74. • Answer
A. Forward integration
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 74

75. 37) How would a division with a low relative
market share position in a high growth
industry be described?
A) Star
B) Question Mark
C) Cash Cow
D) Dog
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76. • Answer
B) Question Mark
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 76

77. 38) The act of oversight and direction for an
organization is referred to as
A. Corporate social responsibility
B. Corporate Governance
C. Company top management
Company Secretary
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 77

78. • Answer
B. Corporate Governance
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79. 39) Which organizational structure is the most
simple and inexpensive?
A. Functional structure
B. Matrix structure
C. Both A & B
D. None of these
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 79

80. • Answer
A. Functional Structure
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81. 40) Which of these involves comparing a firm
against the best firms in the industry on a wide
variety of performance-related criteria?
A. Competition base
B. Adaptation
C. Benchmarking
D. Development strategy
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82. • Answer
C. Benchmarking
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 82

83. 41) Which two variables are of central
importance to strategy implementation?
A. Market Targeting and product positioning
B. Market segmentation and Targeting
C. Market segmentation and product
positioning
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 83

84. • Answer
C. Market segmentation and product
positioning
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 84

85. 42) Strategy evaluation is based on
A. Qualitative criteria
B. Quantitative criteria
C. Both A & B
D. None of these
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 85

86. • Answer
C. Both A & B
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 86

87. 43) can enable firms to learn the technology,
culture, and business practices of other people
and to make contacts with potential customers,
suppliers, creditors, and distributors in foreign
countries.
A. Takeover
B. Joint ventures
C. Acquisition
D.Merger
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 87

88. • Answer
B. Joint Ventures
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 88

89. 44) Communication between domestic
headquarters and overseas operations is often
made difficult by?
A. Geographic distance,
B. Cultural differences,
C. Variations in business practices,
D. National differences
E. All of the above
F. None of the above
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90. • Answer
E. All of the above
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91. 45) Market____________ is the process of
identifying groups of customers with basically
similar wants, needs, preferences or buying
behaviors.
a) Development
b) Positioning
c) Segmentation
d) Targeting
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 91

92. • Answer
C. Segmentation
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93. 46) Economies of scale are derived from:
a) Achieving cheaper unit costs through making
larger quantities
b) Using cheaper raw materials
c) Increasing the breadth of the portfolio
d) Increasing the number of markets served
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 93

94. • Answer:
a) Achieving cheaper unit costs through
making larger quantities
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 94

95. 47) The _________ opportunities and threats
that face a multinational corporation are almost
limitless.
A. Social,
B. Cultural,
C. governmental,
D. Political
E. All of the above
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 95

96. • Answer
E. All of the above
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97. 48) Diversification into many unrelated areas is
an example of:
A. Risk management
B. Good management
C. Uncertainty reduction
D. Sustainability
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 97

98. • Answer
A. Risk Management
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 98

99. 49) 360% feedback involves appraisals by:
a) Line managers
b) Subordinates'
c) Superiors'
d) Anyone who is directly in contact with the
appraise.
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 99

100. • Answer :
d) Anyone who is directly in contact with
the appraise.
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101. 50) What are the four types of resources that
can be used to achieve desired objectives
A. financial, physical, human and technological.
B. financial, physical, Capital, technological.
c. Human, capital, R&D, technological, human
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102. Answer :
A. financial, physical, human and
technological.
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103. 51) Value chain analysis is an effective tool for
___________
A. External analysis
B. Internal analysis
C. Company analysis
D. Product analysis
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104. • Answer
B. Internal Analysis
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105. Phase -2
Fill in the blanks
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 105

106. 1) What does SBU stand for?
Abbreviation:
Strategic Business Unit
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107. 2) What does SAP stand for ?
Abbreviation :
Strategic Advantage Profile.
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108. 3) What does SMOTI stands for ?
Abbreviation :
Strategic Management Of Technology and
Innovation
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109. 4) What does OCP stand for ?
Abbreviation:
Organizational Capability Profile
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 109

110. 5) What does ILCA stand for ?
Abbreviation:
Industry Life Cycle Analysis
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111. 6) What does ETOP stands for ?
Abbreviation :
Environment Threat and Opportunity Profile
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112. 7) In the sketch of the BCG matrix, what is the
label of the vertical axis?
Ans:
Industry Growth Rate
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113. 8) __________ becomes ___________only
when they are evaluated, filtered, condensed,
analyzed and organized for a specific purpose,
problem, individual, or time.
Ans:
Data ; Information
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114. 9) XYZ Corp. is centering on the objective of low-
cost, high quality, on-time production by
curtailing idle productive facilities and workers.
The XYZ Corp. is taking advantage of a
____________ system.
Ans:
Just – In – Time (JIT)
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115. 10) The process of conducting research and
gathering and assimilating external information
is called:
Ans:
Industry Analysis
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 115

116. 11) ________ is the process by which a firm
manages the formulation and implementation
of its strategy.
Ans:
Strategic Management
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117. 12) The competencies or skills that a firm
employs to transform inputs into outputs are:
Ans:
Organizational Capabilities
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118. 13) The "balanced scorecard" supplies top
managers with a _____________ view of the
business.
Ans:
Fast but comprehensive
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119. 14) __________ are the individuals who are
most responsible for the success or failure of an
organization.
Ans:
Strategists
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120. 15) The problem of limited resources within a
firm makes ______________ particularly
important as the firm decides how to allocate its
resources.
Ans:
Strategy Formulation
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121. 16) Technological advancements can create
new________ advantages that are more
powerful than existing advantages.
Ans:
Competitive
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 121

122. 17) The "advance work" in the strategic
management process is comprised of
Ans:
Strategic Formulation
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123. 18) Strategy evaluation is based on
Ans :
Qualitative And Quantitative criteria
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124. 19) Market____________ is the process of
identifying groups of customers with basically
similar wants, needs, preferences or buying
behaviors.
Ans:
Segmentation
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125. 20) The _________ opportunities and threats
that face a multinational corporation are almost
limitless.
Ans : Any one in the following is correct
Social , Cultural , Governmental , Political
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 125

126. 21) Diversification into many unrelated areas is
an example of:
Ans:
Risk Management
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 126

127. 22) Value chain analysis is an effective tool for
___________
Ans :
External analysis
13/10/2017 DIGVIJAI , SHARADA , SRAVANI 127

128. Phase -3
MANAGEMENT GURU’S
AND HIS Philosophy's
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129. 1) Core Competence, Bottom-of- the-pyramid?
a) C K Prahalad and Gary Hamel
b) Abraham Maslow
C) Alfred DuPont Chandler
Ans:
A) C K Prahalad and Gary Hamel
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130. 2) Strategy , Globalization
a. Kenichi Ohmae
B. Kurt Lewin
c. Laurence Peter
Ans:
A) Kenichi Ohmae
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131. 3) Strategic Planning
A. Kaplan and Norton
B. Kenichi Ohmae
C. Henry Mintzberg
Ans :
C) Henry Mintzberg
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132. 4) Balanced Score-Card
A. George Yip
b. Henri Fayol
C. Henry Mintzberg
D. Kaplan and Norton
Ans:
Kaplan and Norton
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133. 5) McKinsey 7-S Framework
a. James Tobin
b. Pascale and Athos
c) James Utterback
d. Jeffrey Pfeffer and Robert Sutton
Ans:
b. Pascale and Athos
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134. 6) Corporate Strategic Planning, popularizing
SWOT analysis?
A. James Tobin
B. James Utterback
c. Robert Sutton
D. Igor Ansoff
Ans:
Igor Ansoff
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135. 7) Problems of organizational structure
A. Henri Fayol
B. Henry Mintzberg
C. Igor Ansoff
D. James Brian Quinn
Ans:
A. Henri Fayol
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136. 8) Blue Ocean Strategy
A. W Chan Kim and Renee Mauborgne
B. George Yip
C. Henri Fayol
D. Henry Mintzberg
Ans:
A. W Chan Kim and Renee Mauborgne
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137. 9) Five Forces Model, Value Chain
A. Kaplan and Norton
B. Kenichi Ohmae
C. Michael E Porter
D. Kurt Lewin
E. None of these
Ans:
Michael E Porter
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138. 10) Which Is not Hard compound Of McKinsey
7-S Framework
i. Strategy
ii. Structure
iii. Skills
iv System
Ans:
iii. Skills
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