Business Policy Strategic Management
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QUESTION 1. An organisation needs to clearly define
Mission
Vision
Goals
All of the above
QUESTION 2. Corporate level strategies can be classified as
Directional strategy
portfolio strategy
Both a&b
none of the above
QUESTION 3. Organisation’s _____leads to Organisation success
marketing strategy
Pricing policies
Integrity
All of the above
QUESTION 4. Action plan includes
objectives
initiatives
Evaluation of progress
All of the above
QUESTION 5. Shipping of products manufactured in your country to other countries is called as
Exporting
Licensing
Joint Venture
All of the above
QUESTION 6. Joint ventures and strategic alliances are part of
Stability Strategy
Growth strategy
Both a&b
None of the above
QUESTION 7. Acquiring or merging with small competitive industry into your industry is called as
Horizontal Integration
vertical integration
concentric integration
none of the above
QUESTION 8. When a company take over its supplier business it is called as
Horizontal Integration
Backward vertical integration
Both a&b
None of the above
QUESTION 9. Outcomes expressed in measurable terms is called as
Policies
Action
Vision
Objectives
QUESTION 10. Outsourcing is characterised by
helps in cost reduction
enhancing differentation
Can focus on core business
All of the above
QUESTION 11. What we exist as an organisation is
Vision
objectives
Mission
None of the above
QUESTION 12. External stakeholders include
Suppliers
Customers
Local communities
All of the above
QUESTION 13. Maximisation of resoursce productivity is the responsibility of
business level strategy
corporate level strategy
Functional level strategy
none of the above
QUESTION 14. Goals are charactersied by
No quantification
No time frame
Both a&b
None of the above
QUESTION 15. Vertical Integration leads to
Increase the cost structure
not profitable when the technology is working very fast
can also create risk
All of the above
QUESTION 16. _______level of strategy that deals with future oriented perspective is
Business
Corporate
Functional
None of the Above
QUESTION 17. Michael Porter’s model of value chain include
Primary activities
Support activities
Both a&b
None of the above
QUESTION 18. Vertical Integration helps a company to
Increase the efficiency of a company
Enhances the product differentation and quality
decrease the cost structure
All of the above
QUESTION 19. Horizontal growth strategies include
Exporting
Licensing
Joint Venture
All of the above
QUESTION 20. Which of the following is true about business strategies?
An organization should stick with its strategy for the life of the business.
Well defined missions make strategy development much easier.
All firms within an industry will adopt the same strategy.
None of the above
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