STRATEGIC MANAGEMENT-Q1

STRATEGIC MANAGEMENT-Q1

12th Grade

10 Qs

quiz-placeholder

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STRATEGIC MANAGEMENT-Q1

STRATEGIC MANAGEMENT-Q1

Assessment

Quiz

Education

12th Grade

Practice Problem

Hard

Created by

Christine Quiña

Used 7+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary goal of strategic management?

  • A) To create a mission statement

  • B) To outperform competitors

  • C) To develop long-term objectives

  • D) To integrate management functions

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which stage of the strategic-management process involves developing a vision and mission statement?

  • A) Strategy formulation

  • B) Strategy implementation

  • D) Strategy development

  • C) Strategy evaluation

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What term is used synonymously with strategic management in the business world?

  • A) Strategic evaluation

  • B) Long-range planning

  • C) Strategic planning

  • D) Operational management

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a competitive advantage?

  • A) A firm’s unique ability to do something better than competitors

  • B) The creation of long-term objectives

  • C) The establishment of a vision and mission statement

  • D) The process of evaluating internal strengths and weaknesses

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who are strategists in the context of strategic management?

  • A) Marketing managers

  • B) Individuals responsible for the success or failure of an organization

  • C) Operational staff

  • D) Financial analysts

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The later term is more often used in the business world, whereas is often used in academia.

TRUE

FALSE

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Strategic management focuses only on integrating management.

TRUE

FALSE

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