Management Questions
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The three organizational levels are:a. corporate level, business level, functional levelb. corporate level, business unit level, functional levelc. corporate strategy level, business unit level, functional leveld. corporate strategy level, business level, specialist level
The highest amount a firm can charge for its products is most directly affected bya. expected retaliation from competitors.b. the cost of substitute products.c. variable costs of production.d. customers' high switching costs.
Suppliers are powerful when:a. satisfactory substitutes are available.b. they sell a commodity product.c. they offer a credible threat of forward integration.d. they are in a highly fragmented industry
Internal analysis enables a firm to determine what the firma. can do.b. should do.c. will do.d. might do
________________ is the foundation of blue ocean strategy.a. Innovationb. Value creationc. Value innovationd. value cost trade-off
According to Greenley, strategic management offers all of these benefits except thata. it provides an objective view of management problems.b. it creates a framework for internal communication among personnel.c. it encourages a favorable attitude toward change.d. it maximizes the effects of adverse conditions and changes.e. it gives a degree of discipline and formality to the management of a business.
The vision and mission statement can often be founda. in the SEC report.b. in annual reports.c. on customer receipts.d. on supplier invoices.e. on community news bulletins
Long-term objectives should be all of the following except:a. measurable.b. continually changing.c. reasonable.d. challenging.e. consistent
All of the following are forces that create high rivalry within an industry EXCEPTa. numerous or equally balanced competitors.b. high fixed costs.c. fast industry growth.d. high storage costs.
A strategy is a company'sa. Value statementb. Pricing policyc. Game Plan to outsmart competitor.d. Long-term objective
Annual objectives a. Need not to be consistent b. Should be easily achievable c. Should be measurable d. Should be confidential and not to be communicated throughout the organization
Strategic management process activate in the sequence of_______a. Environmental scanning, Strategy formulation, Implementation, control and evaluationb. Strategy formulation, Environmental scanning, Implementation, control and evaluationc. Environmental scanning, Strategy Implementation, formulation, control and evaluationd. Strategy formulation, Implementation, control, evaluation, Environmental scanning
Which of the following is not a stage of strategy formulation techniques?a. Formulation Frameworkb. Matching stagec. External factor evaluationd. Decision stage
Strategic management isa. 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.
The various organizational routines and processes that determine how efficiently and effectively the organization transforms its inputs into outputs are called:a. strengths.b. core competencies.c. capabilities.d. customer value.
When defining strategic management the most important thing to remember is that it is:a. Not as easy as you thinkb. Mainly the province of senior managersc. A living evolving processd. More conceptual than practicale. A way of determining responsibilities
Strategic decisions are based on what managers_____________, rather than on whatthey__________.a. Know; forecastb. React to; anticipatec. Forecast; knowd. Compromise with; analyze
Which group would be classified as a stakeholder?a. Communitiesb. Banksc. Suppliersd. Employeese. All of these
Forecasting tools can be broadly categorized into two groups. Those are:a. Qualitative, Operationalb. Quantitative, Operationalc. Qualitative, Quantitatived. Regression and time series analysis
Which of the following resources is used by all organizations to achieve desired objectives?a. Financial resources,b. Physical resources,c. Human resourcesd. All of the mentioned options