ISO 9000 focuses on quality control and ISO 14000 focuses on operating in an environmentally-friendly manner. According to research, organizations using strategic management are __________ than those that do not.a.more profitableb.more complexc.less profitabled.less statice.less complexAns: a Page: 1793. It involves fast changing technology, requires specialized skills and has significant impact on the performance of the product on important customer attributes. Which of the following is not a cultural product? A key aim of both business and military strategy is “to gain competitive advantage.” They both also try to use their own strengths to exploit competitor’s weaknesses. 6. d. It concerns the present direction of the organization. 50. a. a firm produces its product with less raw material waste than its competitors, b. a firm offers more reliable products than its competitors, c. a firm’s products are introduced into the market faster than its competitors’, d. a firm’s research and development department generates many ideas for new products. 14. Ans. The strategic-management processa.occurs once a a sequential a continuous process.d.applies mostly to companies with sales greater than $100 million.e.applies mostly to small businessesAns: c Page: 1387. It provides organizations with a clearer sense of direction and purpose, b. a. Explain.International operations create many advantages for a company: 1) Foreign operations can absorb excess capacity, reduce unit costs and spread economic risks over a wider number of markets; 2) foreign operations can allow firms to establish low-cost production facilities in locations close to raw materials and/or cheap labor; 3) competitors in foreign markets may not exist, or competition may be less intense than in domestic markets; 4) foreign operations may result in reduced tariffs, lower taxes and favorable political treatment in other countries; 5) joint ventures can enable firms to learn the technology, culture and business practices of other people and to make contacts with potential customers, suppliers, creditors and distributors in foreign countries; 6) many foreign governments and countries offer varied incentives to encourage foreign investment in specific locations; and 7) economies of scale can be achieved from operations in global rather than solely domestic markets. a. 47. 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. The target market for XYZ is oil and gas producers as well as producers of chemicals. 3. d. is developed by a firm before the firm develops its vision. The primary focus of strategic management is: 28. Happiness is not a result of accidental strategies in either business or military organizations. It requires specialized skills and technologies. Our online quality management trivia quizzes can be adapted to suit your requirements for taking some of the top quality management quizzes. c. it encourages a favorable attitude toward change. How do line managers become “owners” of the strategy? attending top manager gathering information about involvement in the strategic-management becoming a shareholder of the buying off top managersAns: c Page: 1691. In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's top managers on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. When a firm can do something that rival firms cannot do, or owns something that rival firms desire, that can represent a competitive advantage. 42. It will carry out both the brand management function and customer service call cenre function itself. Strategy evaluation at the_____________ level involves using specific performance measures-qualitative and quantitative-for each functional area. What can be defined as the art and science of formulating, implementing and evaluating cross-functional decisions that enable an organization to achieve its objectives?a.Strategy formulationb.Strategy evaluationc.Strategy implementationd.Strategic managemente. Which of the following is not considered a primary activity in the value chain framework developed by Michael Porter? A person who is related with a business. Developing the steps to follow in implementing operational level plans, c. Defining the business and developing a mission, e. Implementing and evaluating the chosen strategy. IN STRATEGIC MANAGEMENT OF NOKIA The concept of strategic management is refers to (1) Strategy Formulation, (2) Strategy Implementation and (3) Strategy Evaluation. b. c. strategy formulation . Which of the following defines how each individual business unit will attempt to achieve its mission? Strategy B. All of the following are forces that create high rivalry within an industry EXCEPT. Which of the following are signs of weakness in a company’s competitive position? ISO 14001 is similar to ISO 14000 because it is also an environmental standard. It directs at developing new products before competitors do at improving product quality or at improving manufacturing processes to reduce costs. These forces can make communication difficult between the parent firm and subsidiaries; 3) weaknesses of competitors in foreign lands are often overestimated, and strengths are often underestimated. Get step-by-step explanations, verified by experts. b ADVERTISEMENTS: 2. c. is mainly intended to emotionally inspire employees and other stakeholders. a. Strategic planners usually serve in a support or staff role. It will do the customer service call centre function itself. C. strategic planning. a. Your browser either does not support scripting or you have turned scripting off. What is not a pitfall an organization should avoid in strategic planning?a.Failing to communicate the plan to employeesb.Involving all managers rather than delegating planning to a “planner”c.Top managers not actively supporting the strategic planning processd.Doing strategic planning only to satisfy accreditation or regulatory requirementsAns: b Page: 1997. This leads to the downfall, or death, of the company.Page: 22-24121.Compare and contrast business and military strategy.Business and military strategy are very similar. A focus strategy involves offering the niche-customers a product customized to their tastes and requirements. employees, challenge them, and evoke their emotions and dreams. The Submit Answers for Grading feature requires scripting to function. 8. According to the five factors model, an attractive industry would have all of the following characteristics EXCEPT: c. a moderate degree of rivalry among competitors. The purpose of strategic management is to exploit and create new and different opportunities for tomorrow; long-range planning, in contrast, tries to optimize for tomorrow the trends of today.Page: 5111.Which stage in the strategic-management process is most difficult? 22. d. it maximizes the effects of adverse conditions and changes. strategic mgt mcq.pptx - Which strategy would be effective when the new products have a counter cyclical sales pattern compared to an organization's, 1 out of 1 people found this document helpful.

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