McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Master of Commerce (M.com) .
| 51. |
Which individuals are most responsible for the success and failure of an organization? |
| A. | Strategists |
| B. | Financial planners |
| C. | Personnel directors |
| D. | Stakeholders |
| Answer» A. Strategists | |
| 52. |
Which of the following is an element of a firm’s remote external environment? |
| A. | Competition |
| B. | Political agencies |
| C. | Suppliers |
| D. | Trade union |
| Answer» B. Political agencies | |
| 53. |
Long-term objectives should be all of the following except: |
| A. | measurable. |
| B. | continually changing. |
| C. | reasonable. |
| D. | challenging. |
| Answer» B. continually changing. | |
| 54. |
What are guides to decision making? |
| A. | laws |
| B. | rules |
| C. | policies |
| D. | procedures |
| Answer» C. policies | |
| 55. |
According to Greenley, strategic management offers all of these benefits except that |
| A. | it provides an objective view of management problems. |
| B. | it creates a framework for internal communication among personnel. |
| C. | it encourages a favourable attitude toward change. |
| D. | it maximizes the effects of adverse conditions and changes. |
| Answer» D. it maximizes the effects of adverse conditions and changes. | |
| 56. |
The vision and mission statement can often be found |
| A. | in the SEC report. |
| B. | in annual reports. |
| C. | on customer receipts. |
| D. | on supplier invoices. |
| Answer» B. in annual reports. | |
| 57. |
The process of performing an external audit needs to include: |
| A. | only top-level managers, as it’s a planning function. |
| B. | as many managers and employees as possible. |
| C. | primarily front-line supervisors |
| D. | between 15 to 20 managers for it to be valid |
| Answer» B. as many managers and employees as possible. | |
| 58. |
Which of the following is not a stage of strategy formulation techniques? |
| A. | Formulation Framework |
| B. | Matching stage |
| C. | External factor evaluation |
| D. | Decision stage |
| Answer» B. Matching stage | |
| 59. |
ST Strategies is an important strategy to |
| A. | Match weakness with opportunities of the firm |
| B. | Overcome external threats |
| C. | Obtain benefit from its resources |
| D. | Overcome its weakness and reducing threats |
| Answer» B. Overcome external threats | |
| 60. |
The immediate external environment includes: |
| A. | Divisions |
| B. | S. B. U. s |
| C. | Competitors |
| D. | Management |
| Answer» C. Competitors | |
| 61. |
The comprises economic and social conditions, political priorities and technological developments, all of which must be anticipated, monitored, assessed and incorporated into the executive’s decision making. |
| A. | Internal environment |
| B. | Task environment |
| C. | Operating environment |
| D. | Societal environment |
| Answer» D. Societal environment | |
| 62. |
Strategic management involves the , directing, and controlling of a company’s strategy-related decisions and actions. |
| A. | Financing; marketing |
| B. | Planning; financing |
| C. | Planning; organizing |
| D. | Marketing; planning |
| Answer» C. Planning; organizing | |
| 63. |
A strategy is a company’s |
| A. | Value statement |
| B. | Pricing policy |
| C. | Game Plan to outsmart competitor |
| D. | Long-term objective |
| Answer» C. Game Plan to outsmart competitor | |
| 64. |
Strategy-formulation concepts and tools |
| A. | Do not differ greatly for different size and type of organizations |
| B. | Differ greatly for different size and type of organizations |
| C. | Do not differ greatly for profit or non-profit organizations but differ in small and large organizations |
| D. | None of the mentioned options |
| Answer» A. Do not differ greatly for different size and type of organizations | |
| 65. |
Annual objectives |
| A. | Are not critical to success |
| B. | Serve as guidelines for action, directing and channelling efforts and activities of organization members |
| C. | Are not important for employee motivation and identification |
| D. | Do not provide a basis for organizational design |
| Answer» B. Serve as guidelines for action, directing and channelling efforts and activities of organization members | |
| 66. |
Which of the following resources is used by all organizations to achieve desired objectives? |
| A. | Financial resources, |
| B. | Physical resources |
| C. | Human resources |
| D. | All of the mentioned options |
| Answer» D. All of the mentioned options | |
| 67. |
Strategic management is |
| A. | A pure science. |
| B. | Based mainly on intuition. |
| C. | Needed mainly when organizational performance falls. |
| D. | Based on the use of quantitative and qualitative information. |
| Answer» D. Based on the use of quantitative and qualitative information. | |
| 68. |
Large-scale, future-oriented plans, for interacting with the competitive environment to achieve company objectives refers to its |
| A. | Strategy |
| B. | Goals |
| C. | Competitive analysis |
| D. | Dynamic policies |
| Answer» A. Strategy | |
| 69. |
Strategic issues require which level of management decisions? |
| A. | Operative |
| B. | Top |
| C. | Front-line |
| D. | Middle |
| Answer» B. Top | |
| 70. |
Which of these basic questions should a vision statement answer? |
| A. | What is our business? |
| B. | Who are our employees? |
| C. | Why do we exist? |
| D. | What do we want to become? |
| Answer» D. What do we want to become? | |
| 71. |
Strategic management process activates in the sequence of |
| A. | Environmental scanning, Strategy formulation, Implementation, c ontrol and evaluation |
| B. | Strategy formulation, Environmental scanning, Implementation, control and evaluation |
| C. | Environmental scanning, Strategy Implementation, formulation, c ontrol and evaluation |
| D. | Strategy formulation, Implementation, control, evaluation, Environmental scanning |
| Answer» A. Environmental scanning, Strategy formulation, Implementation, c ontrol and evaluation | |
| 72. |
“A possible and desirable future state of an organization” is called: |
| A. | Mission |
| B. | Vision |
| C. | Strategy implementation |
| D. | None of above |
| Answer» B. Vision | |
| 73. |
Strategic decisions are based on what managers , rather than on what they |
| A. | Know; forecast |
| B. | React to; anticipate |
| C. | Forecast; know |
| D. | Compromise with; analyse |
| Answer» C. Forecast; know | |
| 74. |
“To improve economic strength of society and function as a good corporate citizen on a local, state, and national basis in all countries in which we do business”. This is a mission statement that contains: |
| A. | Self-concept |
| B. | Economic concern |
| C. | Products or Services |
| D. | Concern for Public Image |
| Answer» D. Concern for Public Image | |
| 75. |
Strategic-management audit is known as: |
| A. | Environmental scanning |
| B. | Strategy formulation |
| C. | Strategy control |
| D. | Strategy evaluation |
| Answer» A. Environmental scanning | |
| 76. |
Forecasting tools can be broadly categorized into two groups. Those are: |
| A. | Qualitative, Operational |
| B. | Quantitative, Operational |
| C. | Qualitative, Quantitative |
| D. | Regression and time series analysis |
| Answer» C. Qualitative, Quantitative | |
| 77. |
identifies a firm’s major competitors and their particular strengths and weaknesses in relation to a sample firm’s strategic position. |
| A. | Competitive Profile Matrix |
| B. | External Factor Evaluation matrix |
| C. | Internal Factor Evaluation Matrix |
| D. | Boston consulting group matrix |
| Answer» A. Competitive Profile Matrix | |
| 78. |
Organizing means an identifiable group of people contributing their efforts towards the attainment of same goal. It is important at the time of: |
| A. | Environmental scanning |
| B. | Strategy formulation |
| C. | Strategy Implementation |
| D. | Strategy evaluation |
| Answer» C. Strategy Implementation | |
| 79. |
Which statement best describes intuition? |
| A. | It represents the marginal factor in decision-making. |
| B. | It represents a minor factor in decision-making integrated with analysis. |
| C. | It should be coupled with analysis in decision-making. |
| D. | It is better than analysis in decision-making. |
| Answer» C. It should be coupled with analysis in decision-making. | |
| 80. |
What are the means by which long-term objectives will be achieved? |
| A. | Strategies. |
| B. | Strengths |
| C. | Weaknesses. |
| D. | Policies. |
| Answer» A. Strategies. | |
| 81. |
When an industry relies heavily on government contracts, which forecasts can be the most important part of an external audit. |
| A. | economic |
| B. | political |
| C. | technological |
| D. | competitive |
| Answer» B. political | |
| 82. |
is not part of an external audit. |
| A. | Analysing competitors |
| B. | Analysing financial ratios |
| C. | Analysing available technologies |
| D. | Studying the political environment |
| Answer» B. Analysing financial ratios | |
| 83. |
Typically, how many strategic decision levels are in the corporate decision-making hierarchy? |
| A. | 3 |
| B. | 4 |
| C. | could be more than 5 |
| D. | 2 |
| Answer» A. 3 | |
| 84. |
External assessment is performed in which of the strategic management phase? |
| A. | Strategy formulation stage |
| B. | Strategy implementation stage |
| C. | Strategy evaluation stage |
| D. | All of the given options |
| Answer» A. Strategy formulation stage | |
| 85. |
Political variables have a significant effect on |
| A. | Strategy formulation and implementation |
| B. | Strategy formulation and evaluation |
| C. | Strategy implementation and evaluation |
| D. | Strategy formulation, implementation and evaluation |
| Answer» A. Strategy formulation and implementation | |
| 86. |
Strategic decisions ostensibly commit the firm for |
| A. | 1 -2 years |
| B. | The short term |
| C. | one years |
| D. | A long time, typically five years |
| Answer» D. A long time, typically five years | |
| 87. |
Social responsibility is a critical consideration for a company’s strategic decision makers since |
| A. | Stockholders demand it |
| B. | The mission statement must express how the company intends to contribute to the societies that sustain it |
| C. | It increases a company’s profits |
| D. | It helps make decisions |
| Answer» B. The mission statement must express how the company intends to contribute to the societies that sustain it | |
| 88. |
Which of the following are signs of weakness in a company’s competitive position? |
| A. | A return-on-equity is below 25% and earnings per share of less than Rs. 2.00 |
| B. | A price set by the firm higher than its rivals |
| C. | A declining market share, poor product quality and few sales in market |
| D. | Lower revenues and profit margin and narrow product line than the market leader |
| Answer» C. A declining market share, poor product quality and few sales in market | |
| 89. |
It directs at developing new products before competitors do at improving product quality or at improving manufacturing processes to reduce costs. |
| A. | Marketing |
| B. | Opportunity analysis |
| C. | Research and development |
| D. | Management |
| Answer» C. Research and development | |
| 90. |
“Identifying and evaluating key social, political, economic, technological and competitive trends and events”. Which of the followings best describes this statement? |
| A. | Developing an effective mission statement |
| B. | Conducting an internal audit |
| C. | Performing an external audit |
| D. | Formulating strategy |
| Answer» C. Performing an external audit | |
| 91. |
The central purpose of strategic evaluation is --------------- |
| A. | Evaluate effectiveness of strategy to achieve organisational objectives |
| B. | Evaluate effectiveness of control system to measure achievements. |
| C. | Evaluate effectiveness of strategies to be implemented efficiently. |
| D. | Evaluate effectiveness of the strategy implementation process. |
| Answer» A. Evaluate effectiveness of strategy to achieve organisational objectives | |
| 92. |
Strategy evaluation at the level involves using specific performance measures-qualitative and quantitative-for each functional area. |
| A. | organizational |
| B. | operational |
| C. | functional |
| D. | production |
| Answer» C. functional | |
| 93. |
---------- is described as the process which examines all the components, internal or external, that has an influence on the performance of the organization. |
| A. | Environmental analysis |
| B. | Competitor analysis |
| C. | Macro analysis |
| D. | Any of the above |
| Answer» A. Environmental analysis | |
| 94. |
Which of the following is not an external environment component of a business? |
| A. | Competitors |
| B. | Corporate structure |
| C. | Suppliers |
| D. | customers |
| Answer» B. Corporate structure | |
| 95. |
---------- analysis begins with identifying present as well as potential competitors. |
| A. | Environment |
| B. | Internal |
| C. | Competitor |
| D. | External |
| Answer» C. Competitor | |
| 96. |
Characteristics of a business which makes it disadvantageous relative to competitors. |
| A. | Threat |
| B. | Failure |
| C. | Weakness |
| D. | None of these |
| Answer» C. Weakness | |
| 97. |
Elements in a company’s external environment that allow to formulate and implement strategies to increase profitability. |
| A. | Strength |
| B. | Success |
| C. | opportunity |
| D. | productivity |
| Answer» C. opportunity | |
| 98. |
In PEST analysis, “P” stands for------------ |
| A. | Profitability factors |
| B. | Productivity factors |
| C. | Political factors |
| D. | Pricing factors |
| Answer» C. Political factors | |
| 99. |
In PEST analysis, “S” stands for------------ |
| A. | Stability factors |
| B. | Social factors |
| C. | Sales factors |
| D. | Strategic factors |
| Answer» B. Social factors | |
| 100. |
In PEST analysis, “T” stands for------------ |
| A. | Tactical factors |
| B. | Threat factors |
| C. | Task factors |
| D. | Technological factors |
| Answer» D. Technological factors | |
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