__________ refers to the expertise gained by a person through experience or education Ans: Logic, 12. Strategic business units develop their own unique way of competing. The strategic management process is a continuous process (True / False) (True or False) Ans: Strategic triangle is the name given to the 3 important entities to be considered while formulating an effective strategy. The functions of brand . Business Policy And Strategic Management Mcq we are giving business policy amp strategic management question papers of pune university you can send bpsm question papers to add to this post, difference between business policy and strategic management corporate governance concept issues models evolution and significance introduction to strategic management concept importance of strategic … (True / False) Ans: True, 26. C. English. Both management and employees are involved in strategy evaluation (True / False) Take … Leadership has to be effective on _______, _______ and ______ levels. Ans: Business policy, 59. Submit . Show Result A strategic leader confines himself to his field of operations and does not possess knowledge about other areas. (True or False) The two types of global strategies pursued by multinational corporations ______ and ______. Summary Strategic Management - Chapter 1-9 Strategic Management Notes - Lecture notes, lectures 1 - 20 Lifespan Psychology Introduction 1 EC2605 PAST PAPER - 2016 Multiple Choice Questions JA QA Group - Grade: B+ 29. It has been set up by Professor Fred David of Francis . Business model. 14. Strategic Business Unit (SBU) "The bigger a company gets, the smaller it's brains get." (True / False) Course. ______ has been defined as “The collective learning and coordination skills behind the firm’s product lines”. Ans: True, 55. Clark Howard 1. This site contains podcasts and articles on all areas of business and a link to Strategic Management. Strategic leaders have a need to be motivated constantly. Strategic Management MCQ Questions and answers with easy and logical explanations. Ans: Impossible to handle various issues relating to the business, 60. Multiple choice questions on developing marketing strategies and plans quiz answers PDF covers MCQ questions on topics: Business unit strategic planning, corporate and division strategic planning, customer service, diversification strategy, marketing and … Academic year. 1. What should be the characteristic features of a member of the Top Management Team? The strategies should be prioritized based on the seriousness of underlying issues. UNIT II COMPETITIVE ADVANTAGE (True or False) The fundamental purpose for the existence of any organization is described by its a. policies b. mission c. procedures d. strategy Ans. d) Spiritual adviser SWOT analysis refers to the analysis of the organization’s ______________. Ans: Political or governmental policies, International environment, Economic forces (Any two), 7. Business Policy and Strategic Management MCQ with Answers for preparation competitive, MBA, BBA distance and regular mode coureses Ans: True, 76. Profit unit. Ans: True, 77. c. a subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers. Principles of Management Multiple Choice Questions and Answers Part -1 Principles of Management Multiple Choice Questions and Answers Part -2 Principles of Management Multiple Choice Questions and Answers Part -3 1. ANSWER: A 2. 49. Typically, a strategic business unit operates as a separate unit, but it is also an important part of the company. There are different marketing strategies, methods, sales techniques, and programs through which customers are targeted via newsletters, podcasts, advertisements, e-mails, etc. Ans: True, 23. Ans: Knowledge, 11. 38. Are found in one-business organisations, B. b. ADVERTISEMENTS: 2. The fundamental purpose of an organization’s mission statement is to a. create a good human relations climate in the … April 9th, 2019 - Strategic management MCQ and answers for MBA students December 5 2015 Mike 1 Which of these is not a reason why some firms do no strategic planning a Laziness b Competitive leadership c Honest difference of opinion d Poor reward structures Divisional c Strategic business unit only d Functional divisional and corporate What is the basic problem in many organisations? A.Norming B.Storming C.Forming D.Performing 34 Which of the following represents the estimated value of the work actually accomplished? 8. How the firm intends to make money. Practice Multiple choice questions which provide the summary of each chapters in the modul... View more. (True / False) Ans: Knowledge creation. Your email address will not be published. Network effects . The word Retail is derived from the—— word. The three types of strategies adopted by an organization are ______ , ______ and ______. Strategic Management (BUSM3125) Uploaded by. A strategic business unit is a division or team of a company that is responsible for its own strategy and bottom line.In some cases, they are run as a completely separate business. Elthan Lim. Business Strategy Multiple Choice Questions and Answers. The core competence of Sony is ________. 9) Integration Strategies . The fundamental purpose for the existence of any organization is described by its a. policies ADVERTISEMENTS: b. mission c. procedures d. strategy Ans. Ans: (b) Mentor, 65. Ans: Business acumen, sound technical knowledge with common-sense, 58. 1. Strategic marketing means identifying the customers' needs or public and creating a marketing strategy plan to satisfy customer's requirement and improve the company's performance and increase profit. Multiple choice questions on developing marketing strategies and plans quiz answers PDF covers MCQ questions on topics: Business unit strategic planning, corporate and division strategic planning, customer service, diversification strategy, marketing and customer value, and marketing research process. (True or False) BMA799 Strategic Management (Flexible) ( PDF 747 5. ANSWER: A 2. The purpose of carrying out strategic analysis of policy is ___________. The questions will be coming out from the Weekly MCQ vault. Ans: Financial & non-financial, 24. 39. English Grammar Quiz for Class 8 with Answers, Cloud Computing Multiple Choice Questions and Answers, Jamia Indian Defence Personnel Assignments, Online MBA Course | Manipal University is a Best MBA College in India, District of Assam । Total Number of Districts in Assam with brief History, Operating System Objective Questions and answers pdf for GATE, Operating System Quiz Questions with Answers, Operating System Questions and Answers with Multiple Choice, Hindi Vyakran Quiz – Hindi Grammar Quiz for Competitive Exams. Ans: Strategy formulation, 48. MCQ on Strategic Human Resource Management with answers. Answer: b. The strategic leader increases the awareness of strategic planning within the managerial level and grooms future leaders. Retailer is a person who sells the goods […] All Unit MCQ’s Question of Entrepreneurship Development. b. d. strategy . Functional strategy is concerned with developing and nurturing a distinctive competence to provide a company or business unit with a competitive advantage. (True / False) Strategic business unit (SBU) Standalone division of a larger conglomerate, with its own profits and losses. The practice of charging all costs to product is marginal costing/absorption costing/standard costing. Strategic Management (MG3047) Academic year. Ans: Core competency, 52. A. Peter F. Drucker. 6) Competitive Advantage. 9. Ans: False, 70. (True or False) Ans: True, 64. Ans: Vision statement, 49. A strategic business unit, popularly known as SBU, is a fully-functional unit of a business that has its own vision and direction. Learn how your comment data is processed. Strategy is an action that managers take to attain one or more of the organization’s goals. 33. Strategic Business Unit (SBU) Level – Business Strategy Functional Level At each level of business, a strategy needs to be formulated, from macro level to micro level. Typically, a strategic business unit operates as a separate unit, but it is also an important part of the company. C K Prahlada is an eminent thinker from ______. Core competencies tend to refer to areas of special technical and production expertise, where _____ tend to describe excellence in broader business processes. 1. The Strategic Business Unit evolved during the ---- … Explain the importance of strategic management for an organization 31) “Business must be run in a socially responsible manner.” Comment on the statement in the Indian context. We have provided Private, Public and Global Enterprises Class 11 Business Studies MCQs Questions with Answers to help students understand the concept very well. 28. For the board of directors of the company, the entire company is a ----- a. a. expected retaliation from competitors. Mktg Lesson 2 Chapter 2 MCQ questionIt deals with adapting the firm to take advantage of changing marketing opportunities. How the firm intends to make money. Strategy is always action oriented. B. French. Ans: The basic problem is that those who have the knowledge do not have the power and those who have the power do not have the knowledge. Ans: False, 66. 2018/2019 The word Retail is derived from the—— word. B. Terry. Mention the 4 environment categories in which a business mostly operates. Profit center b. B. French. A. 10) Strategic Evaluation. One of the main reasons for having a vision is the motivational effect it is supposed to produce on the workforce. A good leader keeps everything confidential and does not open up easily to others. Development of people b. 2. Thanks for studying our MCQ on Business Strategy if you liked please share on social media. b. a privately owned franchise under the auspices of a larger group or organization bearing the same name. UNIT I STRATEGY AND PROCESS Conceptual framework for strategic management, the Concept of Strategy and the Strategy Formation Process – Stakeholders in business – Vision, Mission and Purpose – Business definition, Objectives and Goals - Corporate Governance and Social responsibility-case study. Ans: Pragmatic approach, 75. ________ approach is practical, goal-oriented and is positive in nature. A strategic business unit does not report through corporate headquarters but rather to the shareholders? Ans: False, 9. A strategic business unit is a division or team of a company that is responsible for its own strategy and bottom line. (True or False) The advantages derived by implementing Strategic management principles are broadly classified as _________ and _______ benefits. Introduction A strategic business unit is a significant organization segment that is analyzed to develop organizational strategy aimed at generating future business or revenue. A. Strategic Management Process Process of Strategic Management (Strategic Mgmt Model) Strategy Formulation Mission & Objectives Internal Resource Analysis Environmental Analysis It reports to the headquarters about its operational status. Suppliers are powerful when: a. satisfactory substitutes are available. (True / False) Ans: False (both idealistic and realistic). According to the growth-share matrix for competitive analysis created by the Boston Consulting Group, such an SBU is considered a Thus, a company like HUL may group its shampoos together in one strategic business unit, soaps in another and similarly, it may make multiple strategic business units as per its requirement.. What are Strategic business units and their advantages Ans: Political, Economic, Social and Technological, 61. (True / False) It reports to the headquarters about its operational status. (True or False) 32. D. Henry Fayol. Solved online assignment answers for multiple choice questions (MCQ's) of various universities like All India Management Association (AIMA), IMT (Institute of Management Technology), SIU (Symbiosis International University), IGNOU, Marathwada Institute of Technology (MIT), Sikkim Manipal University (SMU) and many others. The fundamental purpose of an organization’s mission statement is to . MCQ & Answer Vault for Exam 1910 Exam MCQ consist 10% of the total paper. d. Small business unit . Follow Us. Click here to Download Business Strategy Multiple Choice Questions and Answers in PDF, Your email address will not be published. Here we present Strategic Management Practice Question Paper Set 3: Q.1) Define the following concepts: (Any 5) – 15 marks. Ans: Team, Operational and Strategic levels, 63. 1. ... Strategic decisions. Ans: True. Ans: analyzing the external environment. Strategic Management MCQ: Multiple Choice Questions and Answers on Strategic Management 1. __________ of any organization refer to the systematic process, which enables the transformation of inputs into finished products or service. A policy is action oriented. 2017/2018 Strategic analysis is a part and parcel of the __________ process of organisations. The translation of the strategy into action takes place here, and it details the firm's competitive tactics and initiatives. Ans. Print Strategic Business Units: Examples & Definition Worksheet 1. Strategy is developed to mobilise the available resources in the best interest of the organization. The Practice of Management written by __________. Development of people b. Good leaders are loyal to their organization and sub-ordinates. What is the difference between efficiency and effectiveness? Ans: Leadership, 62. Strategic Management (BUSM3125) Uploaded by. . Management is […] Ans: Scope, 10. C. 2. Ans: Vision, 5. Saturday 15th June 8.00am to Tuesday 18th June 8.00am. Ans: “The Core Competence of the Corporation”, 56. Ans: Operations, 46. The relationship between a business firm and its environment is one of the ______ benefit. ANSWER: A 2. The process of making the employees understand about the strategic direction of the company is called as__. In business, a strategic business unit (SBU) is a profit center which focuses on product offering and market segment. Answer: False; Formulation, implementation, and evaluation of strategy activities occur at three hierarchical levels in a large organization: corporate, divisional or strategic business unit, and functional. D. Henry Fayol. A well-defined strategy allows the organization to function with clockwork precision. b ADVERTISEMENTS: 2. (True or False) D.Strategic Business Unit Head 33.In which stage of team development, team members are worried about how they fit in with the others and how their capabilities and skills compare. 32) Briefly explain the importance of organizational assessment and environmental information in strategic management. b. 7. Earned value (EV) 1. The market sensing process, one of the core business processes, includes _____ . Ans: True, 30. A) increases the advertising budget for that strategic business unit B) invests more in the strategic business unit to build its market share C) sells off or phases out the strategic business unit 1. List out the 3 processes involved in strategic management. ________ is defined as a general set of directions for the corporate to achieve a desirable state in the future. Multiple choice questions Corporate Strategy SET-1 1. CLICK 4 AMAZON DEALS OF THE DAY, Enroll for Digital Marketing Certification Training Program, HTML5 Game from scratch step by step learning JavaScript, Your best friend on the road to YouTube success – Install Now, Eguardian offers online courses & top quality writing services with accuracy, incorporates formatting standards and as per your desire. A strategic leader needs to control every activity within the organization and does not delegate any work to his subordinates. The ability of transformational leaders to attract peers and sub-ordinates by commanding their attention is due to their personal ________. Ans: Business strategy, 42. b) Skills, Weakness, Opportunities, Threats Course. They are – Company, Customer and the Competitor. c. Marketing unit . 4) Strategic Business Unit (SBU) 5) Environmental Scanning. Strategic analysis for policy basically deals with _______________. Objectives of an organisation are close-ended and quantifiable. A strategic business unit is a division or team of a company that is responsible for its own strategy and bottom line. Required fields are marked *. Cash cow. Ans: True, 41. (True / False) This site uses Akismet to reduce spam. A strategic business unit (SBU) refers to a. a strategic product that has a unique brand, size, or price. Submit . List out the various interest groups surrounding the business of a firm. The decisions taken and policies implemented are __________ to see their effects. Job analysis, recruitment and selection b. ________ of the organization can be defined as the reason for existence of the organization and is an insight into the future. In a large organization, strategic management activities occur at what level(s)? Ans: False, 21. Ans: Peter F Drucker, 35. Core competencies should be difficult for competitors to imitate or duplicate. Royal Melbourne Institute of Technology. ______ is known as the modern management Guru. a) Mentee b) Mentor 8. Punishment of people c. Adoption of people d. None of these Ans: a Que:2 Human resource management is amalgam of- a. Samples ; Flashcards; Q&A; Study Tips; Free Duplicate Content Checker; Login; or LOG IN if you are already a member. A __________ provides clarity on the objectives of the company. Ans: Strategy. Royal Melbourne Institute of Technology. a. create a good human relations … Strategic business unit (SBU) Standalone division of a larger conglomerate, with its own profits and losses. This site contains podcasts and articles on all areas of business and a link to Strategic Management. ANSWER: A 2. 2. _____ is a general set of directions for the organisation to achieve a desirable state in the future. 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. 6. Corporate and divisional only B. Divisional C. Strategic business unit only D. Functional, divisional, and corporate ANSWER: D 49. b ADVERTISEMENTS: 2. ... A corporate manager who starts a new initiative for their company which entails setting up a new distinct business unit and board of directors can be regarded as: a) Ecopreneur. _________ is the systematic process of choosing the most relevant course of action for achieving the corporate objectives of the company. C. Louis Allan. Strategic Management Process Process of Strategic Management (Strategic Mgmt Model) Strategy Formulation Mission & Objectives Internal Resource Analysis Environmental Analysis Strategy Choice Generic Corporate Strategy … Punishment of people c. Adoption of people d. None of these Ans: a Que:2 Human resource management is amalgam of- a. 23. Ans: Virtual corporations, team organizations and boundary less organizations. Clarity about dimensions of brands means the clarity in: a. A strategic business unit (SBU) has a high relative market share (RMS) and a low market growth rate (MGR). CA Mock Test Portal is developed to provide a quality test environment for the students who are studying various CA/CPT courses, we would like to take this opportunity to thank our mentors and all the students, Please make sure to contact us in case if you need any further information. ______ is the medium through which the Management can expect to achieve its goals over a period of time. What will happen for a business in the absence of a clear and sound business policy? Online Mock Test in Strategic Management For CA Final , MCQ for CA CS CMA, MCQ in Strategic Management Ans: Functional strategy, Business strategy and Corporate Strategy, 3. Ans: Organizational alignment, 51. Try testing yourself before you read the chapter to see where your strengths and weaknesses are, then test yourself again once you’ve read the chapter to see how well you’ve understood.1. Saturday 15th June 8.00am to Tuesday 18th June 8.00am. Ans: True, 67. Strategic Business Unit (SBU) Level – Business Strategy Functional Level At each level of business, a strategy needs to be formulated, from macro level to micro level. 30) Define strategic management. Ans: True, 31. This Multiple Choice Questions in Strategic Human Resource Management & HR Policies will be helpful for students of BBA, MBA, Mcom, Bcom, and other graduation & post-graduation students. Question mark. A good vision is realistic only and not idealistic. The final stage in strategic management is strategy implementation. 34. Carry out strategies assigned by the CEO, C. Develop their own unique way of competing, D. Implement the marketing function's strategic planning and management decisions, Strategy is developed by the visionary chief executive in ___________ mode of strategic management, Stability strategy is a ____________ strategy. ADVERTISEMENTS: b. mission . Practice MCQ’s. This site contains podcasts and articles on all areas of business and a link to Strategic Management. 8) Creating Synergy. 10. c. Marketing unit . There are different marketing strategies, methods, sales techniques, and programs through which customers are targeted via newsletters, podcasts, advertisements, e-mails, etc. 7. _______ helps to connect the goals and scope of the organization with the competitive advantage so as to leverage its competitive advantage. Social behaviour and business ethics c. Organisational behaviour, , personal management and industrial … Which of the folling is not the function of management University. Ans: Two sets, 18. A. Ans: Mission statement, 50. Strategic marketing means identifying the customers' needs or public and creating a marketing strategy plan to satisfy customer's requirement and improve the company's performance and increase profit. Core competencies do not help in value creation or value addition of the product. 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