CHAPTER 1 SM
Quiz
•
Business
•
University
•
Practice Problem
•
Easy
Muhammad Ridzuan
Used 3+ times
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19 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does strategic management primarily involve?
Managing daily operations
Drafting, implementing, and evaluating decisions
Only planning and forecasting
Setting short-term objectives
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best defines a strategy in management?
A detailed financial plan
A marketing campaign
A method for employee training
Actions taken to ensure an organization is better off than competitors
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first stage of the strategic management process?
Resource allocation
Strategy formulation
Strategy implementation
Strategy evaluation
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term is often used interchangeably with strategic planning?
Corporate planning
Operational planning
Contingency planning
Tactical planning
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary focus of strategy evaluation?
To allocate resources
To develop new products
To measure performance and take corrective actions
To set annual objectives
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key component of the strategic management process?
Only strategy formulation
Only strategy implementation
Strategy formulation, implementation, and evaluation
Only strategy evaluation
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does corporate strategy refer to?
A specific marketing strategy
The overall plan or direction of an organization
The overall plan for short-term objectives
A financial investment plan
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