Introduction to Strategic Management – Financial and Strategic Management MCQ

In Porter’s five forces model, what is meant by the term ‘substitute?

What is likely to happen if many new businesses enter a market?

Identify which of the following forces does not form part of Porter’s Competitive Position Analysis?

According to Porter, which of the following is most important to achieving competitive advantage?

Potential rivals will not find it difficult to enter a market where: 10

According to Porter, suppliers are more able to exercise bargaining power over buyers when:

According to Porter, suppliers are more able to exercise bargaining power over buyers when:

Which of the following is not a force in the Porter Five Forces model?

If a firm takes over a competitor then, according to Porter’s 5 forces model:

In Porter’s five forces model, con¬ditions are more favorable for firms within an industry if:

Porter’s Value Chain is essentially a tool for:

Which of the following is not an element of Porter’s 5 Forces Model?

Porter’s notion of a differentiation strategy is best described as one in which firms seek a competitive advantage:

The business strategy focuses on:

Porter’s Five Forces tool is a simple but powerful tool to evaluate the power of business. Which of the following is not one of the five?

Which of the following is an element of the microenvironment?

According to Michael Porter, the essence of strategy formulation is

The microenvironment has an influence on the business.

The Porter’s Forces tool is a simple but powerful tool to evaluate the power of business.

The microenvironment is also known as –

Which of the following is a characteristic of the business environment?

The operational strategy focuses on issues of

The environment is complex. Which of the following supports this?

There are mainly two types of business environment –

What type of organizational struc¬ture do most small businesses follow?

Mission and Vision Statements are NOT commonly used to:

According to Porter, what is usually the most powerful of the five compet¬itive forces?

A defines the company’s business, its objectives, and its approach to reach those objectives.

Which of the following is the beginning stage of the strategic management process?

Which of these basic questions should a vision statement answer?

Which of the following describes the desired future position of the company?

Environment scanning is careful monitoring of an organization’s environment for detecting early signs of opportunities and threats that may influence its current and future plans.

Which of the following is the first phase of the strategic management process?

There are____ indispensable phases of every strategic management process.

Strategic management ___

The strategic management process is defined as the process by which the managers are able to make a choice of a set of strategies for the organization that will enable it to accomplish –

Out of all the alternatives generated in the earlier stage, the organization selects the best suitable alternative. This stage in the strategic management process is called as___

According to Chandler ‘Strategic Management’ is the determination of the basic long-term goals and objectives of an enterprise and the adoption of a course of action and allocation of___necessary to carry out this goal?.

Strategic management emphasizes the monitoring and evaluation of external opportunities and threats inthe light of a company’s and designing strategies for the survival and growth of the company.

According to Hambrick Strategic Management’ Strategic management are the formulation and implementation of the taken by a company’s top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes.

According to Glueck ‘Strategic Management’ is a set of decisions and actions which lead to the development of an effective strategy or strategies to help achieve___

According to Chandler ‘Strategic Management’ is –

Strategic management involves the decision-making and the activities in an organization which –

We may define the term ‘Strategy’ as a blueprint.