Management Questions
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Strategic management involves the_______, directing, _______ and controlling of a company'sstrategy-related decisions and actions.a. Financing; marketingb. Planning; financingc. Planning; organizing.d. Marketing; planning
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?
The environmental segments that comprise the general environment typically will NOT includea. demographic factors.b. sociocultural factors.c. substitute products or services.d. technological factors.
________ is not part of an external audit.a. Analyzing competitorsb. Analyzing financial ratiosc. Analyzing available technologiesd. Studying the political environment
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
Annual objectives a. Are not critical to success b. Serve as guidelines for action, directing and channeling efforts and activities of organization members c. Are not important for employee motivation and identification d. Do not provide a basis for organizational design
"A possible and desirable future state of an organization" is called:a. Missionb. Visionc. Strategy implementationd. None of above
KAPKAL Power's interested to achieve a 10 percent return on equity (ROE) in their core electricutility, 14 percent ROE on water resource operations, and 15 percent ROE on support businesses. It is_____________a. Missionb. Strategyc. Objectived. Policy
Which of the following is not an advantage of strategic management?a. It provides organisations with a clearer sense of direction and purposeb. It helps improve the political, economic, social and technological environment of the organisationc. It helps orientate management decisions to relevant environmental conditionsd. It helps organisations be proactive rather than reactive
Which individuals are most responsible for the success and failure of an organization?a. Strategistsb. Financial plannersc. Personnel directorsd. Stakeholderse. Human resource managers
A firm's missiona. is a statement of a firm's business in which it intends to compete and the customers which it intends to serve.b. is an internally-focused affirmation of the organization's financial, social, and ethical goals.c. is mainly intended to emotionally inspire employees and other stakeholders.d. is developed by a firm before the firm develops its vision
"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 thatcontains:a. Self-conceptb. Economic concernc. Products or Servicesd. Concern for Public Image
Which of the following is an element of a firm's remote external environment?a. Competitionb. Political agenciesc. Suppliersd. Trade union
In the airline industry, frequent-flyer programs, ticket kiosks, and e-ticketing are all examples ofcapabilities that area. rare.b. causally ambiguous.c. socially complex.d. valuable.
The goal of the organization's__________ is to capture the hearts and minds of employees,challenge them, and evoke their emotions and dreams.a. visionb. missionc. cultured. strategy
________ is/are the source of a firm's________, which is/are the source of the firm's ________.a. Resources, capabilities, core competenciesb. Capabilities, resources, core competenciesc. Capabilities, resources, above average returnsd. Core competencies, resources, competitive advantage
What is meant by the term 'Stakeholder'?a. A person who is not related with a business. b. A person who is related with a business. c. A person who owns a business. d. A person who purchases the shares of a business.
Competitors are more likely to respond to competitive actions that are taken bya. differentiators.b. larger companies.c. first moversd. market leaders.
Product differentiation refers to the: a. ability of the buyers of a product to negotiate a lower price. b. response of incumbent firms to new entrants. c. belief by customers that a product is unique. d. fact that as more of a product is produced the cheaper it becomes per unit.
An analysis of the economic segment of the external environment would include all of thefollowing EXCEPTa. interest rates.b. international trade.c. the strength of the U.S. dollar.d. the move toward a contingent workforce.