Strategic Management Quiz

What is the primary purpose of strategic management?

• Daily operations

• Long-term planning and positioning

• Employee engagement

• Financial auditing

Strategic Management involves:

• Only senior management

• Only HR policies

• Planning, implementation, and evaluation of strategies

• Only financial planning

A strategic plan typically spans:

• 1 month

• 6 months

• 1 year

• 3 to 5 years or more

Strategic Management is considered:

• Operational

• Functional

• Dynamic and ongoing

• Tactical

Which of the following is NOT a characteristic of Strategic Management?

• Long-term focus

• Future-oriented

• Based on intuition only

• Integrative

Which of the following is a dimension of Strategic Management?

• Tactical analysis

• Operational decisions

• Strategic intent

• Team building

Strategic risk refers to:

• Risk in supply chains

• Day-to-day variability

• Threats affecting long-term objectives

• Product development risks only

A mission statement describes:

• The future aspirations

• Why an organization exists

• Marketing plan

• Financial projections

A vision statement describes:

• Present activities

• Tax obligations

• Future aspirations

• Organizational chart

Which of the following is usually more inspirational?

• Budget

• Mission

• Vision

• Rules