Mgt603 Quiz No. 1

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Question # 1 of 20 ( Start time: 06:49:05 PM ) Total Marks: 1 
Establishing and implementing ways of making things work is known as: 
Select correct option: 

Planning 
Organizing 
Leading 
Controlling 
Question # 2 of 20 ( Start time: 06:49:49 PM ) Total Marks: 1 
Which of the following statement is TRUE about a Vision statement of a company? 
Select correct option: 

It concentrates on future 
It defines the customers 
It identify critical processes 
It informs about the desired level of performance 
Question # 3 of 20 ( Start time: 06:50:37 PM ) Total Marks: 1 
Which of the following statements is NOT correct about a mission statement? 
Select correct option: 

It contains the definition of the company's business 
It is called the picture of a company's future. 
It is a statement containing the company's major goals 
It is known as statement of the corporate philosophy 
Question # 4 of 20 ( Start time: 06:51:39 PM ) Total Marks: 1 
Which of the follwoing term represents the enduring statement of purpose that distinguish one business from other similar firms? 
Select correct option: 

Vision 
Strategy 
Mission 
Tactics 
Question # 5 of 20 ( Start time: 06:52:17 PM ) Total Marks: 1 
Which one of the following is NOT a basic mission of a competitive intelligence program? 
Select correct option: 

To provide a general understanding of an industry 
To provide a general understanding of a company's competitors 
To identify industry executives who could be hired by the firm 
To identify potential moves a competitor might make that would endanger a firm 
Question # 6 of 20 ( Start time: 06:53:02 PM ) Total Marks: 1 
Which of the following environment includes all those factors which affect the organization and itself affected by the organization? 
Select correct option: 

External environment 
Social environment 
Task environment 
Internal environment 
Question # 7 of 20 ( Start time: 06:53:38 PM ) Total Marks: 1 
Which one of the following is NOT a key external force? 
Select correct option: 

Social responsibility 
Ozone reduction 
Company management 
Energy conservation 

Question # 8 of 20 ( Start time: 06:54:18 PM ) Total Marks: 1 
All of the following fall under the category of "Process" function of production management EXCEPT: 
Select correct option: 

Choice of technology 
Quality assurance 
Process flow analysis 
Transportation analysis 

Question # 9 of 20 ( Start time: 06:55:29 PM ) Total Marks: 1 
Technological advancements can create which of the following advantage besides many other existing powerful advantages for the businesses? 
Select correct option: 

Economic 
Competitive 
Social 
Environmental 
Question # 10 of 20 ( Start time: 06:56:03 PM ) Total Marks: 1 
Which of the following statement is refered to 'Price fluctuation'? 
Select correct option: 

Decrease in prices 
Increase in prices 
Fluctuation in the prices of a particular commodity 
Fluctuation in general price level 
Question # 11 of 20 ( Start time: 06:56:36 PM ) Total Marks: 1 
Which of the following is not a pitfall an organization should avoid in strategic planning? 
Select correct option: 

Failing to involve key employees in all phases of planning 
Involving all managers rather than delegating planning to a planner 
Top managers not actively supporting the strategic planning process 
Doing strategic planning only to satisfy accreditation or regulatory requirements 
Question # 12 of 20 ( Start time: 06:57:11 PM ) Total Marks: 1 
All of the following fall under Pricing decisions EXCEPT: 
Select correct option: 

Discounts 
Credit terms 
Markups 
Dealer relations 
Question # 13 of 20 ( Start time: 06:58:21 PM ) Total Marks: 1 
While preparing an External Factor Evaluation matrix, a total score of 0.8 indicates what? 
Select correct option: 

Firm is taking advantages of strengths and avoiding threats 
Firm is not taking advantages of opportunities and is avoiding threats 
Firm is not taking advantages of opportunities and is not avoiding threats 
Firm is taking advantage of opportunities and is avoiding the threats 

Question # 14 of 20 ( Start time: 06:58:58 PM ) Total Marks: 1 
Reasons due to which some firms do "No Strategic Planning" incorporate all of the following EXCEPT: 
Select correct option: 

Wastage of time 
Fire-fighting 
Content with success 
Privileged reward structures 
Question # 15 of 20 ( Start time: 07:00:25 PM ) Total Marks: 1 
Which of the follwoing are the guidelines of decision making? 
Select correct option: 

Laws 
Rules 
Policies 
Goals 
# 16 of 20 ( Start time: 07:01:37 PM ) Total Marks: 1 
Different types of consumers are created due to new trends, which in turn require which type of products? 
Select correct option: 

Different products 
Different services 
Different strategies 
All of the given options 
Question # 17 of 20 ( Start time: 07:02:08 PM ) Total Marks: 1 
Strategist is an individual who is involved in the strategic management process, thus may be known as: 
Select correct option: 

Member board of director 
President 
Division manager 
All of the given options 
Question # 18 of 20 ( Start time: 07:02:52 PM ) Total Marks: 1 
What happens to the demand for discretionary goods when interest rates rise? 
Select correct option: 

Rises 
Declines 
Remains the same 
First rises then declines 
Question # 19 of 20 ( Start time: 07:03:28 PM ) Total Marks: 1 
Which of the following can be considered one of the factors of external opportunities and threats of an organization? 
Select correct option: 

Production/ operations 
Research & development 
Competitive trends 
Management information system 
Question # 20 of 20 ( Start time: 07:03:59 PM ) Total Marks: 1 
Which of the following period strategic management was considered to be cure for all problems? 
Select correct option: 

Mid 1950s to mid 1960s 
Mid 1960s to mid 1970s 
Mid 1970s to mid 1980s 
Mid 1980s to mid 1990s


Question # 1 of 20 ( Start time: 07:09:35 PM ) Total Marks: 1 
The social factors that affect a firm involve all of the following EXCEPT: 
Select correct option: 

Attitudes of people in the external environment 
Lifestyles of people 
Per capita income 
Values and beliefs of persons outside the firm 
Question # 2 of 20 ( Start time: 07:10:17 PM ) Total Marks: 1 
Investment decisions are also known as: 
Select correct option: 

Business finance 
Capital structure 
Capital budgeting 
Dividend policy 
Question # 3 of 20 ( Start time: 07:10:51 PM ) Total Marks: 1 
Buyers can exercise high bargaining power over their suppliers under which one of the following conditions? 
Select correct option: 

When there are many good substitutes of raw material 
There are few buyers in the market 
They have few suppliers to choose from 
There is a high concentration of suppliers 
Question # 4 of 20 ( Start time: 07:11:34 PM ) Total Marks: 1 
Which of the following is best identified as a statement that presents "a firm's big picture statement, describing a desired end-state, general in scope, and not restrictive"? 
Select correct option: 

Corporate philosophy statement 
Company creed 
Vision statement 
Mission statement 
Question # 5 of 20 ( Start time: 07:12:17 PM ) Total Marks: 1 
Identify the stages of strategic management process in a precise sequence. 
Select correct option: 

Strategy evaluation, strategy formulation & strategy implementation 
Strategy evaluation, strategy implementation & strategy formulation 
Strategy formulation, strategy implementation & strategy evaluation 
Strategy implementation, strategy evaluation & strategy formulation 
Question # 6 of 20 ( Start time: 07:12:56 PM ) Total Marks: 1 
For the past four years the ABC Corporation has been planning to expand its operations in order to reach out to the world market. Essentially, the ABC Corporation desires to do what? 
Select correct option: 

Become an online business 
Become a brick-n-mortar business 
Embrace globalization 
Become a click-n-mortar business 
Question # 7 of 20 ( Start time: 07:14:03 PM ) Total Marks: 1 
Test marketing is commonly applied by which of the following companies? 
Select correct option: 

Industrial goods companies 
Consumer goods companies 
Public sector companies 
Private sector companies 

Question # 8 of 20 ( Start time: 07:14:41 PM ) Total Marks: 1 
Which ***** would be classified as a stakeholder? 
Select correct option: 

Communities 
Banks 
Suppliers 
All of the given options 
Question # 9 of 20 ( Start time: 07:15:54 PM ) Total Marks: 1 
Which of the following identified that "strategic management encourages forward thinking, favorable attitudes towards change and discipline to the management of business"? 
Select correct option: 

Greeley 
Greenly 
Greenley 
Greenwich 
Question # 10 of 20 ( Start time: 07:16:49 PM ) Total Marks: 1 
In adapting to change an organization must monitor which of the following? 
Select correct option: 

Ongoing processes 
Internal and external events 
Timely changes 
All of the given options 
Question # 11 of 20 ( Start time: 07:17:27 PM ) Total Marks: 1 
Which of the following is the process of influencing people to accomplish specific objectives? 
Select correct option: 

Staffing 
Motivating 
Controlling 
Organizing 
Question # 12 of 20 ( Start time: 07:17:59 PM ) Total Marks: 1 
Which one of the following is NOT a key external force? 
Select correct option: 

Social responsibility 
Ozone reduction 
Company management 
Energy conservation 
Question # 13 of 20 ( Start time: 07:18:30 PM ) Total Marks: 1 
The mission statement answers which of the following question? 
Select correct option: 

What is our business? 
How can we improve ourselves? 
What do we want to become? 
Who are our stakeholders? 

Question # 14 of 20 ( Start time: 07:19:41 PM ) Total Marks: 1 
Internal analysis involves gathering and analyzing the information about all areas of a firm EXPECT: 
Select correct option: 

Research nad development 
Management information system 
Marketing 
Competitors 
Question # 15 of 20 ( Start time: 07:20:25 PM ) Total Marks: 1 
Which of the following can reveal the demographic characteristics of an organization's customers? 
Select correct option: 

Customer profiling 
Test marketing 
Market development 
The vision statement 
Question # 16 of 20 ( Start time: 07:21:28 PM ) Total Marks: 1 
Opportunity analysis is one of the basic functions of which one of the following? 
Select correct option: 

Computer information systems 
Marketing 
Production/operations 
Research and development 
Question # 17 of 20 ( Start time: 07:22:42 PM ) Total Marks: 1 
What are historical narratives describing the unique accomplishments of a ***** and its leaders, usually in heroic terms? 
Select correct option: 

Rites 
Sagas 
Stories 
Myths 
Question # 18 of 20 ( Start time: 07:23:18 PM ) Total Marks: 1 
"A Good mission statement identifies the utility of a firm's products to its customers"; which of the following represents this statement? 
Select correct option: 

Organization's philosophy 
Customer orientation 
Social policy 
Declaration of attitude 
Question # 19 of 20 ( Start time: 07:23:57 PM ) Total Marks: 1 
A system of several rites connected with a single occasion or event is known as: 
Select correct option: 

Myth 
Ceremonial 
Saga 
Legend 
Question # 20 of 20 ( Start time: 07:24:45 PM ) Total Marks: 1 
Which of the following are developed in strategy implementation phase of strategic management? 
Select correct option: 

Vision and mission 
Annual objectives 
Strengths and weaknesses 
Opportunities and threats
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