Here Are 40 Quizzes / Multiple-Choice Questions (Mcqs) Related To
STRATEGIC MANAGEMENT
Along With Their Correct Answers:
**1. What is strategic management?**
A) The process of formulating and implementing business strategies. [Correct]
B) The process of managing day-to-day operations.
C) The process of controlling financial resources.
D) The process of conducting market research.
**2. Which of the following is NOT a step in the strategic management process?
**
A) Strategy formulation.
B) Strategy execution.
C) Strategy evaluation.
D) Task delegation. [Correct]
**3. SWOT analysis involves the assessment of:**
A) Strengths, weaknesses, opportunities, and threats. [Correct]
B) Sales, wages, operations, and tasks.
C) Suppliers, workers, operations, and tools.
D) Skills, weaknesses, operations, and targets.
, **4. Which strategy aims to increase market share for existing products in
existing markets?**
A) Market development.
B) Product development.
C) Market penetration. [Correct]
D) Diversification.
**5. Which type of diversification strategy involves expanding into new business
areas related to the company's existing products and markets?**
A) Concentric diversification. [Correct]
B) Horizontal diversification.
C) Conglomerate diversification.
D) Vertical diversification.
**6. Core competencies refer to:**
A) Basic skills every employee should possess.
B) Unique strengths and resources that give a firm a competitive advantage.
[Correct]
C) The minimum requirements for entering a market.
D) The most essential products a company offers.
**7. The BCG matrix categorizes a firm's products into:**
STRATEGIC MANAGEMENT
Along With Their Correct Answers:
**1. What is strategic management?**
A) The process of formulating and implementing business strategies. [Correct]
B) The process of managing day-to-day operations.
C) The process of controlling financial resources.
D) The process of conducting market research.
**2. Which of the following is NOT a step in the strategic management process?
**
A) Strategy formulation.
B) Strategy execution.
C) Strategy evaluation.
D) Task delegation. [Correct]
**3. SWOT analysis involves the assessment of:**
A) Strengths, weaknesses, opportunities, and threats. [Correct]
B) Sales, wages, operations, and tasks.
C) Suppliers, workers, operations, and tools.
D) Skills, weaknesses, operations, and targets.
, **4. Which strategy aims to increase market share for existing products in
existing markets?**
A) Market development.
B) Product development.
C) Market penetration. [Correct]
D) Diversification.
**5. Which type of diversification strategy involves expanding into new business
areas related to the company's existing products and markets?**
A) Concentric diversification. [Correct]
B) Horizontal diversification.
C) Conglomerate diversification.
D) Vertical diversification.
**6. Core competencies refer to:**
A) Basic skills every employee should possess.
B) Unique strengths and resources that give a firm a competitive advantage.
[Correct]
C) The minimum requirements for entering a market.
D) The most essential products a company offers.
**7. The BCG matrix categorizes a firm's products into:**
