Strategic Management (STRA701)-Semester III
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1st Module
Question 1. Every promise and every set of promises forming the consideration for each other is
Select one:
a. Agreement
b. Contract
c. Offer
d. Acceptance
Clear my choice
Question 2. Which of the following is a component of strategic management?
Select one:
a. Employees
b. Horizon Management
c. Govt. Tax Rates
d. All of these
Clear my choice
Question 3. Which of the following is(are) elements of business ethics?
Select one:
a. Accountability
b. Responsibility
c. Reputation
d. All of these
Clear my choice
Question 4. …………………. Are principles that guide the way that business is conducted in a fair and professional way
Select one:
a. Business Ethics
b. Company Mission
c. Company Vision
d. Brand Values
Clear my choice
Question 5. The functional areas of strategic management include
Select one:
a. Finance
b. Marketing
c. Production & Operation
d. All of these
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Question 6. The study and accounting of tools, assets and resources (both human and otherwise) that can be used in the accomplishment of the organization’s goals. This may include financial, tangible and intangible business values is known as
Select one:
a. Internal Evaluation
b. External Evaluation
c. Total Evaluation
d. None of these
Clear my choice
Question 7. The ………………… was passed and implemented to control various kinds of commercial and business contracts.
Select one:
a. Income Tax Act, 1961
b. GST Act, 2016
c. Indian Contract Act, 1872
d. None of these
Clear my choice
Question 8. The practice of management to use known methods and find efficiencies by directing staff to stay in their “lane” is known as
Select one:
a. Alignment Strategies
b. Adoption Strategies
c. Market Strategy
d. None of these
Clear my choice
Question 9. The practice of management to permit maximum flexibility among staff and resources to engage new methods and relationships outside of the competitor “normal” behaviors is known as
Select one:
a. Alignment Strategy
b. Corporate Strategy
c. Adaptability Strategy
d. None of these
Clear my choice
Question 10. An agreement consists of reciprocal promises between at least
Select one:
a. 4 Parties
b. 3 Parties
c. 6 Parties
d. 2 Parties
Clear my choice
Every promise and every set of promises forming the consideration for each other is
Select one:
a. Agreement
b. Contract
c. Offer
d. Acceptance
Question 11. Contract = An agreement + Enforceable by……….
Select one:
a. Law
b. History
c. Rules
d. All of the above
Clear my choice
Question 12. According to the Indian Contract Act, 1972 Contracts tainted with illegality or lack of capacity are
Select one:
a. Not enforceable
b. Enforceable
c. Conditionally Enforceable
d. None of these
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Question 13. The house that we rent, the electricity that is supplied to us, and the telephone and television services that we use – all these come to us through
Select one:
a. Vodiable Contracts
b. Offers & Schemes
c. Contracts
d. None of these
Clear my choice
Question 14. A makes a contract with B to beat his business competitor. This is an example of
Select one:
a. Valid Contract
b. Voidable Contract
c. illegal agreement
d. None of these
Clear my choice
The Law of Contract is nothing but
Select one:
a. a child of religion
b. a child of commercial dealing
c. a child of day-to-day politics
d. a child of economics
Question 15. The goal of the organization to care for the well-being of society as a whole is known as ……..
Select one:
a. Mission
b. Social Responsibility
c. Motive
d. None of these
Clear my choice
Question 16. Which of these is a characteristic of Organizational Values?
Select one:
a. There has to be a reason behind each value
b. Further the vision, mission, objectives
c. Should be a catalyst for performance
d. All of these
Clear my choice
Question 17.The evaluation of an organization’s financial, social and environmental performance is known as the
Select one:
a. Reputation
b. Market Position
c. Net Profit
d. Triple Bottom Line
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2nd Module
Question 1. Which of the following is a componet of outbund logistics?
Select one:
a. Packaging
b. Warehousing
c. Staging
d. All of these
Clear my choice
Question 2. ………………….is the value of one currency for the purpose of conversion to another.
Select one:
a. Exchange Rate
b. Trade Tariffs
c. Inflation
d. None of these
Clear my choice
Question 3. Import & Export rules are all part of
Select one:
a. Fiscal Policy
b. Trade Tariffs
c. Constitution
d. None of these
Clear my choice
Question 4. The “P” in PESTLE stands for
Select one:
a. Political
b. Psyhcological
c. Promotional
d. None of these
Clear my choice
Question 5.While studying from a Political Standpoint under PESTLE analysis, which of these would be considered?
Select one:
a. Printing of Money
b. Inflation
c. Deflation
d. All of these
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Question 6. All steps required to store, stage, ship and track products from operations facility to the end user are collectively known as ………….
Select one:
a. Outbound Logistics
b. Transport
c. Cargo
d. None of these
Clear my choice
Question 7. ……………………..is a measure that examines the weighted average of prices of a basket of consumer goods and services.
Select one:
a. Inflation
b. Net Exports
c. Net Imports
d. Consumer Price Index
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Question 8. Sociocultural Analysis for Business takes into account ………..
Select one:
a. Education
b. Age
c. Income
d. All of these
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Question 9. ……………………is an acronym to describe the ever-changing business environment and world around us as a chaotic situation.
Select one:
a. ISDC
b. VUCA
c. ECBE
d. None of these
Clear my choice
Question 10. Anti-Trust Laws will fall under which component of the PESTLE Analysis?
Select one:
a. Political
b. Economic
c. Legal
d. Social
Clear my choice
VRIO stands for…
Select one:
a. Valuable, Rare, Inimitable, Organized
b. Valuable, Rare, Inimitable, Ordered
c. Vintage, Rare, Inimitable, Organized
d. Valuable, Ready, Inimitable, Organized
A tool that allows a company to understand their position relative to competitors in the same product or service area is known as ……
Select one:
a. PESTLE Analysis
b. Porter’s 5 Forces
c. VRIO Framework
d. Industry Analysis
Question 11. Acknowledging that a market has peaked and no further growth is expected is known as …..
Select one:
a. Industry Reach
b. Industry Growth
c. Industry Stagnation
d. None of these
Clear my choice
Question 12. A known restaurant brand opening a new franchise or location is an example of…..
Select one:
a. Industry Growth
b. Industry Stagnation
c. Consolidation
d. None of these
Clear my choice
Question 13. The overall increase in sales revenue, units sold or serviced as a mid-life strategy is known as……..
Select one:
a. Industry Reach
b. Industry Growth
c. Industry Stagnation
d. None of these
Clear my choice
Question 14. ……………. is a way to evaluate characteristics of the organization and strategically monitor and link them to performance outcomes.
Select one:
a. PESTLE Analysis
b. Porter’s 5 Forces
c. VRIO Framework
d. None of these
Clear my choice
Question 15. The ability of a particular industry to achieve sales or service in as many physical locations or other industries is known as ……
Select one:
a. Industry Reach
b. Industry Growth
c. Industry Stagnation
d. None of these
Clear my choice
Question 16. Industry Analysis is important because
Select one:
a. It helps acquire new customers
b. It helps to retain existing customers
c. Option A & B
d. None of these
Clear my choice
Question 17. Evaluation of the future outlook of a business based on past and present conditions with respect to the organization and its competitors is called …………………. .
Select one:
a. PESTLE Analysis
b. Porter’s 5 Forces
c. VRIO Framework
d. Industry Analysis
3rd Module
Question 1. The expansion of a company or brand to new locations in order to gain new customers and sales is known as ………………strategy
Select one:
a. Market Consolidation
b. Market Penetration
c. Market Development
d. None of these
Clear my choice
Question 2. The merger or acquisition of businesses with similar performance, customers and products or services is known as which of the following?
Select one:
a. Horizontal Integration
b. Vertical Integration
c. Diagnoal Integration
d. None of these
Clear my choice
Question 3. The 4 Quadrants of the BCG Matriz are denoted by: Cash Cows, Dogs, Stars and …………
Select one:
a. Sun
b. Bear
c. Bull
d. Question Mark
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Question 4. The approach or platform for long-term strategic initiatives, usually for revenue growth or profitability improvement is also known as …………
Select one:
a. Corporate Strategies
b. Market Consolidation
c. Industry Reach
d. None of these
Clear my choice
Question 5. The ability of an organization to deliver equivalent value to the competitors, irrelevant to the chosen competitive values is known as
Select one:
a. Competitive Parity
b. Monoply
c. Imperfect Monoply
d. None of these
Clear my choice
Question 6. The habit of businesses to sell out to larger business in order to harvest profits, but leaves fewer and larger organizations behind is better known as…
Select one:
a. Small Scale Consolidation
b. Competition Consolidation
c. Profit Making Consolidation
d. Large Scale Consolidation
Clear my choice
Question 7. Which of the following could be a consideration of ‘market development strategy’?
Select one:
a. Similarities
b. Geography
c. Demographics
d. All of these
Clear my choice
Question 8. Expanding the organization’s capabilities to perform operations normally conducted by a vendor up the supply chain or another level of business down the supply chain including retailing is known as which of the following?
Select one:
a. Horizontal Integration
b. Vertical Integration
c. Diagnoal Integration
d. None of these
Clear my choice
Question 9. The Ansoff Matrix is based on which two variables?
Select one:
a. Product & Market
b. Product & Price
c. Market & Price
d. Price & Time
Clear my choice
Question 10. BCG in the BCG Matrix stands for?
Select one:
a. Big Competition Grid
b. Business Competition Grid
c. Boston Consulting Group
d. None of these
Clear my choice
What do Stars symbolize in BCG matrix?
Select one:
a. Introduction
b. Growth
c. Maturity
d. Decline
Question 11. On what two factors is the GE 9-Cell Matriz based on?
Select one:
a. Market Attractiveness & Competetive Strength
b. Market Attractiveness & Investment
c. Competetive Strength & Investment
d. None of these
Clear my choice
Question 12. The 3 methods that are a part of Porter’s Model of Generic Business Strategies are: Overall Cost leadership strategy, Differentiation and………..
Select one:
a. Product Strategy
b. Factor Strategy
c. Focus strategy
d. None of these
Clear my choice
Question 13. The habit of technology reducing human intervention and therefore allowing for fewer organizations to provide the same level of service or production is better known as
Select one:
a. Technology Restricted Aggregation
b. Technology Driven Aggregation
c. Reduced Human Effort
d. None of these
Clear my choice
Question 14. The ability to launch a new business with a known competitor product and gain a base following due to some benefit perceived of the “new” brand over existing brands is known as …………
Select one:
a. Market Growth
b. Market Penetration
c. Consolidation
d. None of these
Clear my choice
Question 15. …………………………is considered a diversified condition when the team looks to expand beyond minor tweaks but to greater differentiators to meet demographic and psychographic needs.
Select one:
a. New Product Development
b. Market Stagnation
c. Market Growth
d. None of these
Clear my choice
Question 16. Nissan launching a new line of bigger SUVs is an example of
Select one:
a. New Product Development
b. Market Stagnation
c. Market Growth
d. None of these
Clear my choice
Question 17. A general tendency for those with more experience to cost less per unit to develop or produce the output desired is known as
Select one:
a. Experience Curve Strategy
b. Cost Curve Strategy
c. Output Curve Strategy
d. None of these
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4th Module
Question 1. Guerilla Marketing is a form of ……………strategy.
Select one:
a. Offensive
b. Defensive
c. Conservative
d. None of these
Clear my choice
Question 2. An approach which a company takes that directly influences market change, targeting customers for increased market share and R&D efforts is also known as a
Select one:
a. Defensive Strategy
b. Offensive Strategy
c. Optimal Strategy
d. None of these
Clear my choice
Question 3. The fundamental relationship of competitors that find ways to cooperate for the sake of the customers and benefit to the industry as well is known as ..
Select one:
a. Tactical Competition
b. Monopolisitic Competition
c. Co-Opetition
d. None of these
Clear my choice
Question 4. ………………….is a theory which is mostly marketing-related that focuses on entering industries or markets that have little to no competition.
Select one:
a. Green Ocean Strategy
b. Blue Ocean Strategy
c. Red Ocean Strategy
d. None of these
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Question 5. The 3rd Stage of the Industry Lifecycle is
Select one:
a. Growth
b. Stability
c. Maturity
d. End
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Question 6. Where do Competitive Actions come from?
Select one:
a. Similar marketspace
b. Similar customers
c. Direct competition!
d. All of these
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Question 7. Any formal company action that may cause competition to respond with their strategy or tactics can be better described as a
Select one:
a. Non-Competitive Action
b. New Competitive Action
c. Course of Action
d. None of these
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Question 8. Service enhancements can be categorised as a form of a
Select one:
a. Tactical Action
b. Strategic Action
c. Hybrid Action
d. None of these
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Question 9. Which of these is a risk involved in implementing the Blue Ocean Strategy?
Select one:
a. Too Early
b. Not enough perceived customers
c. Competitor(s) is secretly looking at same “ocean”
d. All of these
Clear my choice
Question 10. ………………. is a theory that involves the scenario in which a marketplace that has too many competitors and too few customers; has saturated or surpassed the demand/supply ratio.
Select one:
a. Green Ocean Strategy
b. Blue Ocean Strategy
c. Red Ocean Strategy
d. None of these
Clear my choice
Any method used by a company to retain their current customers, sales and margins. This includes elements such as brand, financial and competitive posturing is also known as …
Select one:
a. Defensive Strategy
b. Offensive Strategy
c. Optimal Strategy
d. None of these
Which of these would be a characteristic to implement the blue ocean strategy?
Select one:
a. No market yet exists
b. No competitors
c. Compete on novelty ideas
d. All of the above
Question 11. Complete the sequence of the Blue Ocean Stratgey: Buyer Utility, Price, Cost…..
Select one:
a. Repeat
b. Manufaacture
c. Adoption
d. None of these
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Question 12. The strategy of Blue Ocean’s are ……
Select one:
a. Not purely technical in nature
b. Frequently from existing competitors
c. Not based only on company and industry
d. All of the above
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Question 13. A firm that is not meeting the sales, profit, brand expectations based on history or competitive performance is known as a
Select one:
a. Performing Organisation
b. Underperforming Organization
c. Optimal Organization
d. None of these
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Question 14. Which of these should be a consideration for an organization looking for a turnaround effect?
Select one:
a. Know that it may not work
b. Embrace all parties to seek options (layoffs come last)
c. Buy or sell to competition in order to exit recovering as much as possible
d. All of the above
Clear my choice
Question 15. The 4 Stages of the Industry Lifecycle are:
Select one:
a. Introduction, Growth, Stability, Decline
b. Introduction, Growth, Maturity, Decline
c. Introduction, Growth, Maturity, End
d. Introduction, Growth, Stability, End
Clear my choice
Question 16. Which of these is a characteristic of the growth phase of the Industry Lifecycle?
Select one:
a. Product familiarity is known to many
b. Brand known by many customers
c. Features developed
d. All of these
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Question 17. Which of these is a characteristic of the Introduction phase of the Industry Lifecycle?
Select one:
a. Products are not known by customers
b. Brand may not be known by customers
c. Features may be flexible yet
d. All of these
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5th Module
Question 1. The tendency of the organization to begin servicing or producing what upstream or downstream suppliers had in the past because of efficiencies or competitive advantage is also known as…..
Select one:
a. Vertical integration strategy
b. Horizontal integration strategy
c. Matrix integration strategy
d. None of these
Clear my choice
Question 2. When looking at the balanced scorecard from a financial perspective, which of the following could be considered by an organization?
Select one:
a. Productivity
b. Tax Rates
c. Export Tariffs
d. None of these
Clear my choice
Question 3. Elements of business that are important to the majority of employees or coworkers in a particular environment are known as its
Select one:
a. Strategies
b. Tactical Decisions
c. Shared Values
d. None of these
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Question 4. ……………………..is defined as the beliefs and practices of a group of individuals that establish a “normal” way to accomplish things.
Select one:
a. A charter
b. Competitive Strategy
c. Tactical strategy
d. Organizational Culture
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Question 5. The ability to engage all of the necessary resources into a process for improvements including discovering, creating, improving and applying team concepts is also known as ….
Select one:
a. Facilitation
b. Supply Chain
c. Lean Manufacturing
d. None of these
Clear my choice
Question 6. The series of processes by which needed components are obtained, delivered, modified, shipped and received at a customer or client location is known as …..
Select one:
a. Manufacturing
b. Production
c. Supply Chain
d. None of these
Clear my choice
Question 7. Which of the following is important for an organization to catalyse innovation?
Select one:
a. Human Capital
b. Information Capital
c. Organization Capital
d. All of these
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Question 8. The sale of an asset or position for financial, political or strategic gain is also known as…..
Select one:
a. Divestment
b. Investment
c. none of the above
d. Could be either
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Question 9. Which of these can be termed as a possible benefit of a good supply chain strategy?
Select one:
a. Lower Costs
b. Increase Quality
c. Increase speed of output
d. All of these
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Question 10. Of the following, what benefit can ‘transportation’ contribute to an organization strategy?
Select one:
a. Faster movement means higher customer satisfaction
b. Less expensive means higher profits
c. Various modes of transport can offer better evaluation of risk
d. All of these
Clear my choice
Which of these could be a challenge for divestment?
Select one:
a. Returns for the asset may be lower than expected
b. Finding enough buyers to get a good price
c. Funds may take time to realize
d. All of the above
Question 11. When looking at the balanced scorecard from a customer perspective, which of the following could be considered by an organization?
Select one:
a. Time
b. Quality
c. Service
d. All of the above
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Question 12. ………………..is defined as the organized modification of business assets and labor from one plan to another. Frequently this includes selling off equipment, facilities, brands and may require laying off employees while also including new technologies , processes and employee compensation plans.
Select one:
a. Disposing
b. Restructuring
c. Acquisition
d. None of these
Clear my choice
Question 13. Which of the following is a type of “big data”?
Select one:
a. Structured
b. Unstructured
c. Semi-structured
d. All of the above
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Question 14. The intentional restructuring of business equipment, processes and people to create more productive equipment, efficient processes and aligned staff is better known as ……..
Select one:
a. Shortage of Resources
b. Abundance of Resources
c. Reallocation of Resources
d. None of these
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Question 15. Which of these could be a benefit of divestment?
Select one:
a. Frees up money for other investments
b. Focus on core businesses
c. Reinvest funds into potential new businesses
d. All of these
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Question 16. Which of these is a challenge for a vertical integration strategy?
Select one:
a. Competitors are focused
b. Management tiers may get “deeper”
c. Price advantage may disappear
d. All of these
Clear my choice
Question 17. How is big data different from traditional data?
Select one:
a. Normal data software cannot handle it
b. May require specific hardware as well
c. Grows constantly because of user input (manual or monitored)
d. All of these
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Assignment 2
Case Study:
Before the advancement of technology, it was very difficult for the tourism and hospitality industry to market their services to their clients. It was also very expensive as customers are always physically far away, for example, miles away. However, the advent of information technology has facilitated business transactions apart from boosting the customer base. The fact that people are able to communicate and interact with each other in different fields has made it easier and cheaper to market their products and services. In the past, the inter-organizational system, which linked organizations, was the most popular form of IT. However, due to the high cost, many businesses could not meet the cost of using it (Chih-Yao 2011, p. 1986). The emergence of global distribution systems allowed easy connections and communication between boarders. This allowed faster transfer of information which helped boost the industry in terms of number of bookings. Global delivery was a form of inter-organizational system that emerged from the computer reservation system that helped to integrate information from the airline. These integrations gave a boost to the tourism industry as customers were able to make their reservations in a common market. These systems were used in the 1960s, and integration with modern computers was impossible. The advancement of technology has seen the emergence of the Internet and the World Wide Web, which have changed the way people interact and/or do their business (Christiana 2008, p. 345). Businesses market their hospitality services and tourism products through the Internet. This platform has connected the world. It has turned it into a global village. People can interact in different places in real time.
Which among the following from the passage depicts the advantage of technology in Tourism Industry?
Select one:
a. Facilitated business transactions
b. easy connections and communication
c. Boosts Industry in terms of bookings
d. All of these
Clear my choice
Question 2. _ system, which linked organizations, was the most popular form of IT.
Select one:
a. Organizational
b. Inter- organizational
c. Joint organizational
d. None of these
Clear my choice
Question 3. Global Village here refers to:
Select one:
a. Social Connectivity
b. Internet Connectivity
c. Both A & B
d. None of these
Clear my choice
Question 4. The advent of information technology has facilitated __ apart from boosting the customer base.
Select one:
a. Communication
b. Business transactions
c. Infrastructure
d. All of these
Clear my choice
Question 5. Some features of technology in hospitality industry include:
Select one:
a. Smart Rooms
b. Booking Technology
c. Hotel Software System
d. All of these
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