Quizr: Strategic Management Quiz#1, MCQs

Strategic Management Quiz#1, MCQs

NOTE: Attempt all Questions to see the Result at the bottom of this page.

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1)

Strategist is an individual who is involved in the strategic management process, thus may be known as:
- A) Member board of director
- B) President
- C) Division manager
- D) All of the given options
Right Answer is the option "B" Strategists are individuals who form strategies. Strategists have various job titles, such as chief executive officer, president, and owner, chair of the board, executive director, chancellor, dean, or entrepreneur

2)

The objectives set by a manager should have which of the following characteristics?
- A) Should spell out how fast the company's strategy is to be implemented
- B) Should include long-range performance targets but not short-range targets
- C) Should include financial performance targets but not strategic performance targets
- D) Should be challenging and congruent among organizational units
Right Answer is the option "D" Objectives should be challenging, measurable, consistent, reasonable, and clear.

3)

Which of the following is TRUE about anti-trust legislation?
- A) The is the law intended to protect the ozone layer in the environment
- B) This is the law intended to regulate the tax rates in the economy
- C) This is the law intended to promote free competition in the market
- D) This is the law intended to promote free competition in the market
Right Answer is the option "C" For example, anti trust legislation where there is an effort to ban the monopolies.

4)

Financial ratios are helpful in analyzing the relationship between/among which of the following?
- A) All assets and liabilities
- B) Profits and costs
- C) All functional areas of business
- D) Sales and profitability
Right Answer is the option "C" Because, the functional areas of business are so closely related, financial ratios can signal strengths or weaknesses in management, marketing, production, research and development, and computer information systems activities.

5)

Which function of management includes areas such as job design, job specification, job analysis and unity of command?
- A) Planning
- B) Motivating
- C) Organizing
- D) Leading
Right Answer is the option "C" Organizing includes all those managerial activities that result in a structure of task and authority relationships. Specific areas include organizational design, job specialization, job descriptions, job specifications, span of the control, and unity of command, coordination, job design, and job analysis

6)

Distribution includes which of the following?
- A) Customer analysis
- B) Warehousing
- C) Advertising
- D) Test marketing
Right Answer is the option "B" Distribution includes warehousing, distribution channels, distribution coverage, retail site locations, sales territories, inventory levels and location, transportation carriers, wholesaling, and retailing

7)

Opportunity analysis is one of the basic functions of which one of the following?
- A) Computer information systems
- B) Marketing
- C) Production/operations
- D) Research and development
Right Answer is the option "B" There are seven basic functions of marketing: (1) Customer analysis, (2) Selling products/services, (3) Product and service planning, (4) Pricing, (5) Distribution, (6) Marketing research, and (7) Opportunity analysis.

8)

“Max Rent-a-Car” is opening car rental shops in Wal-Mart stores, is an example of which type of strategy?
- A) Forward integration
- B) Backward integration
- C) Related diversification
- D) Unrelated diversification
Right Answer is the option "C" Related diversification is when a business adds or expands its existing product lines or markets

9)

_______________ refers to a strategy of seeking ownership or increased control over a firm’s competitors.
- A) Conglomerate diversification
- B) Backward integration
- C) Horizontal integration
- D) Concentric diversification
Right Answer is the option "C"

10)

customer groups even though those new products may be technologically unrelated to the existing product lines.Which of the following best describes the statement?
- A) Retrenchment
- B) Horizontal diversification
- C) Market development
- D) Horizontal integration
Right Answer is the option "B" Horizontal diversification: Adding new, unrelated products or services for present customers