MGT503 Quiz 1 Solved by Munir | Final Term Preparation
2 Different Quiz
Question #1:
A plan used to operationalize any other kind of plan is called:
A) Directional plan
B) Action plan (Correct option)
C) Reaction plan
D) Specific plan
Question #2:
Which of the following is a general statement or understanding that guide or channelize thinking in decision making?
A) Project
B) Rule
C) Policy (Correct option)
D) Procedure
Question #3:
What would be the best description of plans that focus on the broad future of the organization and incorporate both external environmental demands and internal resources into managers' actions?
A) Tactical plans
B) Holistic plans
C) Operational plans
D) Strategic plans (Correct option)
Question #4:
The set of strategic alternatives that an organization chooses from its operations across several industries and several markets is called:
A) Business-level strategy
B) Corporate-level strategy (Correct option)
C) Functional-level strategy
D) Market-level strategy
Question #5:
Strategy that address the question of what the business a corporation should be in is called:
A) Growth strategy
B) Corporate level strategy (Correct option)
C) Business level strategy
D) Industry strategy
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Question #6:
Which of the following is a process that involves managers from all parts of the organization in the formulation of strategic goals?
A) Strategic management
B) Strategic positioning
C) Strategic organizing
D) Strategic planning (Correct option)
Question #7:
All of the following are steps in objective setting EXCEPT:
A) Specify deadlines
B) Prioritize goals (Correct option)
C) Link rewards to effort
D) Allow the employee to actively participate
Question #8:
Strategy analysis involves evaluating the position of the organization in relation to its environment. It refers to as:
A) Situation analysis (Correct option)
B) Rational analysis
C) Competitor analysis
D) SWOT analysis
Question #9:
Strategy __________ is the process of choosing among different strategies and altering them to best fit the organization's needs.
A) Formulation
B) Implementation (Correct option)
C) Control
D) Testing
Question #10:
A situation in which an organization is not implementing valuable strategies that are being implemented by competing organizations is called:
A) Competitive parity
B) Competitive edge
C) Competitive disadvantage (Correct option)
D) Distinctive competencies
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MGT503 Quiz 1 Solved by Munir | Final Term Preparation
Question #1:
Plans which are as short a period as 1 week or as long as 1 year are:
Options:
A) Tactical Plan
B) Strategic plan
C) Standing plan
D) Operational plan
Correct option: A) Tactical Plan
Question #2:
Which of the following can be defined as the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives?
Options:
A) Strategy evaluation
B) Strategy implementation
C) Strategy formulation
D) Strategic management
Correct option: D) Strategic management
Question #3:
Which one of the following is the future end results that usually set by middle management for specific department or unit?
Options:
A) All of the given options
B) Operational goals
C) Strategic goals
D) Tactical goals
Correct option: B) Operational goals
Question #4:
Which of the following stage of strategic management focuses on "how the strategy is achieved"?
Options:
A) Implementation stage
B) Evaluation stage
C) Execution stage
D) Formulation stage
Correct option: A) Implementation stage
Question #5:
What would be the best description of plans that focus on the broad future of the organization and incorporate both external environmental demands and internal resources into managers' actions?
Options:
A) Strategic plans
B) Tactical plans
C) Operational plans
D) Holistic plans
Correct option: A) Strategic plans
Question #6:
Which of the following is a one-time plan specifically designed to meet the needs of a unique situation?
Options:
A) Strategic plan
B) Single-use plan
C) Operational plan
D) Multipurpose plan
Correct option: B) Single-use plan
Question #7:
When environmental uncertainty is greater, the plan should be:
Options:
A) Specific but flexible
B) Non-directional
C) Standing but challenging
D) Long-term but rigid
Correct option: A) Specific but flexible
Question #8:
A strategy that promotes a superior alignment between the organization and its environment and the achievement of strategic goals is called:
Options:
A) Scope
B) Emergent strategy
C) Effective strategy
D) Deliberate strategy
Correct option: C) Effective strategy
Question #9:
Environmental scanning establishes the basis for _____, which are predictions of outcomes.
Options:
A) Forecasts
B) Budgets
C) Projects
D) Scenarios
Correct option: A) Forecasts
Question #10:
An area in the environment that, if exploited, may generate high performance is called:
Options:
A) Opportunity
B) Strength
C) Weakness
D) Threat
Correct option: A) Opportunity
Please note that the options may have been rearranged for presentation purposes.
