Business Strategy Multiple Choice Questions (MCQ) and Answers pdf for the preparation of academic and competitive examinations. 1. ___ is a general set of directions for the organisation to achieve a desirable state in the future. 2. The three types of strategies adopted by an organization are ___, ___ and ___. 3. Broad Vision and Dynamism are essential features of a business
strategy. (True / False) 4. ___ of the organization can be defined as the reason for the existence of the organization and is an insight into the future. 5. Objectives of an organisation are close-ended and quantifiable. (True / False) 6. Two examples of external variables, which influence business policy are ___ and ___. 7. A
well-defined strategy allows the organization to function with clockwork precision. 8. The Business Strategy of an organization should be ironclad and opaque. (True / False) 9. ___ defines the products of the firm, the geographical area of its market and the activities undertaken to establish the product. 10. ___ refers to the expertise gained by a person through experience or education 11. ___ helps to connect the goals and scope of the organization with a competitive advantage so as to leverage its competitive advantage. Ans: Logic 12. If the strategy of the organisation is inadequate, it will lead to a ___ vision of the organization. 13. ___ is broad-based and seeks to create an image of the company, basis its core values. 14. The vision of the organisation combines 3 basic elements of ___, ___ and ___. 15. The achievement of ___ indicates that the organization is preceding along the right course of growth. 16. The relationship between a business firm and its environment is one of the ___ benefits. 17. Business Policies are influenced by ___ sets of factors. 18. List out the various interest
groups surrounding the business of a firm. 19. A strategy is thought oriented. (True / False) 20. A policy is action-oriented. (True / False) 21. Strategy is developed to mobilise the available resources in the best interest of the organization. (True / False) 22. Strategies and policies are directed towards achieving the objectives of an organization. (True / False) 23. The advantages derived by implementing Strategic management principles are broadly classified as ___ and ___ benefits. 24. The decisions are taken and policies implemented are ___ to see their effects. 25. One of the main reasons for having a vision is the motivational effect it is supposed to produce on the workforce. (True / False) 26. He should be able to adjust actions and decision-making to focus on critical initiatives and issues. (True / False) Ans: True 27. A good vision is realistic only and not idealistic. (True / False) 28. What is meant by the ‘strategic triangle’? 29. Strategy is always action-oriented. (State
True or False) 30. The strategic management process is a continuous process (True / False) 31. Strategic analysis is a part and parcel of the ___ process of organisations. 32. What is the basic problem in many organisations? 33. The purpose of carrying out a strategic analysis
of policy is ___. 34. ___ is known as the modern management Guru. 35. C K Prahlada is an eminent thinker from ___. 36. What is the difference between efficiency and effectiveness? 37. Strategic analysis for policy basically deals with ___. 38. List out the 3 processes involved in strategic management. 39. The strategies should be prioritized based on the seriousness of underlying issues. (True / False) 40. Both management and employees are involved in strategy evaluation (True / False) 41. ___ is defined as a general set of directions for the corporate to achieve a desirable state in the
future. 42. SWOT analysis refers to the analysis of the organization’s ___. 43. The 3 strategies advocated by Porter for the business unit level are ___, ___ and ___. 44. The new types of organizational structures are ___, ___ and ___. 45. ___ of any organization refers to the systematic process, which enables the transformation of inputs into finished products or service. 46. The two types of global strategies pursued by multinational corporations ___ and ___. 47. ___ is the systematic process of choosing the most relevant course of action for achieving the corporate objectives of the company. 48. A ___ provides clarity on the objectives of the company. Ans: Vision statement 49. ___ outline the methods to be adopted for fulfilling the objectives set in the vision statement. 50. The process of making the employees understand the strategic direction of
the company is called __. 51. ___ has been defined as “The collective learning and coordination skills behind the firm’s product lines”. 52. Core competencies do not help in value creation or value addition of the product. (True or False) 53. The core competence of Sony is ___. 54. Core competencies should be difficult for competitors to imitate or duplicate. (True or
False) 55. The term “Core Competency” has its origin in an article titled ___, written by C K Prahalad and Gary Hamel for the Harvard Business Review in 1990. 56. On what does the success or failure of a business depend upon? 57. What should be the characteristic features of a member of the Top Management Team? 58. ___ is the medium through which the Management can expect to achieve its goals over a period of time. 59. What will happen for a business in the absence of a clear and sound business policy? 60. Mention the 4 environment categories in which a business mostly operates. 61. ___ can be defined as the process of
exerting influence on others, especially peers and subordinates, in order to accomplish the common goals of the organization. 62. Leadership has to be effective on ___, ___ and ___ levels. 63. The strategic leader motivates collectivism and maintains the balance between conflicting ideas. (True or False) Ans: True 64. A good leader acts as ___ for his sub-ordinates. 65. A strategic leader needs to control every activity within the organization and does not delegate any work to his subordinates. (True or False) 66. Good leaders are loyal to their organization and sub-ordinates. (True or False) 67. Strategic leaders have a need to be motivated constantly. (True or False) 68. An effective leader has average intelligence and is emotional. (True or
False) 69. A good leader keeps everything confidential and does not open up easily to others. (True or False) 70. A strategic leader confines himself to his field of operations and does not possess knowledge about other areas. (True or False) 71. According to James Burns, leadership can be classified into ___ and ___. 72. The ability of transformational leaders to
attract peers and sub-ordinates by commanding their attention is due to their personal ___. 73. Transactional leaders are good at short term planning. (True or False) 74. ___ approach is practical, goal-oriented and is positive in nature. 75. The strategic leader increases the awareness of strategic planning within the managerial level and grooms future leaders. (True or False) 76. Strategy allows
an organization to exert control over its own destiny. (True / False) 77. Strategy is an action that managers take to attain one or more of the organization’s goals. (True / False) You may also like Business Strategy MCQ with Answers: Set-2 MCQ on Business Environment with Answers Thanks for studying our MCQ on Business Strategy if you liked please share it on social media. Click here to Download Business Strategy Multiple Choice Questions and Answers in PDF |
Which individuals are most responsible for the success and failure of an organization * strategists financial planners stakeholders human resource managers?
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