Mgt603 Online Quiz No. 1

Mgt603 Online Quiz No. 1

Last date: 12-11-10..

Quiz will be based upon Multiple Choice Questions (MCQs), Covering Video Lecture 1 to 15

For SOLVED Past Online Quizzes of Mgt603 visit: DOWNLOAD (457 Pages), you may open this file before attempting ur Online Quiz, its helps u a lot:)

Which of the following can be best described as short-term in nature?
Select correct option:

Mission statements
Annual objectives
Strategies
Vision statement
Which of the following are the factors that concern the nature and direction of the economy in which a firm operates?
Select correct option:

Technological
Ecological
Social
Economic

Which one of the followings best describes this statement; "The conditions that a company must satisfy in order to be able to enter an industry"?
Select correct option:

Economies of scale
Barriers to entry
Differentiation
Competitive environment
During which stage of strategic management, firm's specific internal strengths and weaknesses are determined?
Select correct option:

Formulation
Implementation
Evaluation
Feedback
Which of the following arise when a company can take advantage of conditions in its environment to formulate and implement strategies that enable it to become more profitable?
Select correct option:

Strengths
Opportunities
Weaknesses
Threats
Which statement is CORRECT about strategic-management process?
Select correct option:

It occurs once a year
It is a continuous process
It applies mostly to large business
It applies mostly to small businesses
Ethnic balance is affected due to which of the following?
Select correct option:

Change in ethnic values
Awareness of ethnic norms
Migration of the people towards different areas
Introduction of new laws relating to ethnicity
The organizations that conduct business operations across national borders are known as which of the following?
Select correct option:

Domestic firms
Multinational corporations
Parent companies
Franchises

Which of the following is the greatest advantage of international operations?
Select correct option:

Reduced tariffs and taxes
Access to global business practices
Gaining new customers
Less-intense competition
Which of the following are developed in strategy implementation phase of strategic management?
Select correct option:

Vision and mission
Annual objectives
Strengths and weaknesses
Opportunities and threats

Which of the following is not a strategy-implementation activity?
Select correct option:

Long term goals and objectives
Developing strategy supportive culture
Redirecting marketing efforts
Developing and utilizing information system
Strategy implementation includes developing strategy supportive culture, creating an effective organizational structure, redirecting marketing efforts, preparing budgets, developing and utilizing information system and linking employee compensation to organizational performance.
The mission statement answers which of the following question?
Select correct option:

What is our business?
How can we improve ourselves?
What do we want to become?
Who are our stakeholders?
Where an organization takes into account the effect of its strategic decisions on the society, the firm is taking care of which of these?
Select correct option:

Corporate governance
Business policy
Business ethics
Social policy
Which of the following is best identified as a statement that presents "a firm's big picture statement, describing a desired end-state, general in scope, and not restrictive"?
Select correct option:

Corporate philosophy statement
Company creed
Vision statement
Mission statement

While preparing an External Factor Evaluation matrix, a total score of 0.8 indicates what?
Select correct option:

Firm is taking advantages of strengths and avoiding threats
Firm is not taking advantages of opportunities and is avoiding threats
Firm is not taking advantages of opportunities and is not avoiding threats
Firm is taking advantage of opportunities and is avoiding the threats

Question # 3 of 10 ( Start time: 02:02:21 AM ) Total Marks: 1
External forces directly affects all of the following EXCEPT:

Select correct option:

Market segmentation strategies
Types of products/services offered
Management structure of organization

Choice of businesses to acquire or sell

Attitudes of people in the external environment
Lifestyles of people
Per capita income
Values and beliefs of persons outside the firm

Which type of trend can be exemplified by the increase in average level of education in a society?
Social
Economic
Cultural
Technological

A Good mission statement identifies the utility of a firm's products to its customers"; which of the following represents this statement?
Organization's philosophy
Customer orientation
Social policy
Declaration of attitude
Customer orientation

Which of the following can be the weakness of an organization?
Price war
Poor location of business
Increased trade barriers
Innovative substitute product

Which one of the followings best describes this statement; "The conditions that a company must satisfy in order to be able to enter an industry"?
Economies of scale
Barriers to entry
Differentiation
Competitive environment

Which one variable falls under the category of the Social, Cultural, Demographic, and Environmental Variable?
Propensity of people to spend
Buying habits
Level of disposable income
Income differences by region

Which one of the following is NOT a basic mission of a competitive intelligence program?
To provide a general understanding of an industry
To provide a general understanding of a company's competitors
To identify industry executives who could be hired by the firm
To identify potential moves a competitor might make that would endanger a firm


Political variables have a significant effect on which one of the following?
Formulation and implementation of strategy
Formulation and Evaluation of a strategy
Implementation and evaluation of a strategy
Formulation, implementation and evaluation of a strategy


The mission statement answers which of the following question?
What is our business? (correct)
How can we improve ourselves?
What do we want to become?
Who are our stakeholders?

Which of the following statement is TRUE about a Vision statement of a company?
It concentrates on future
It defines the customers
It identify critical processes
It informs about the desired level of performance

All of the following statements are true about a firm's mission statement EXPECT:
A mission statement does not directly contribute positively to financial performance.
A mission statement directly contributes positively to financial performance.
A mission statement should not provide useful criteria for selecting among alternative strategies. (correct)
Primary reason to develop a mission statement is not to attract the customers