strategic management MCQs

strategic managementWhich of the following does NOT usually function as an entry barrier?Economies of scaleHigh strategic stakesProduct differentiationSwitching costs

A challenge in conducting an external analysis is that:brand loyalty is low.markets may be concentrated.markets may be fragmented.forecasts aren’t facts.

A long-term contract is usually an agreement between:two organizations in the same industry.an organization and its suppliers.two organizations in unrelated industries.a domestic and international organization.

The product-market evolution matrix is based on the:industry analysis.product life cycle.internal strengths and weaknesses.opportunities and threats.

An organization’s __________ are its goal-directed plans and actions in which its capabilities and resources are matched with the opportunities and threats in its environment.mission statementsvision statementsstrategiesobjectives

Ethics can be defined as:the obligation of organizational decision makers to make decisions and act in ways that recognize the interrelatedness of business and society.the intentional and ongoing actions of an organization to continuously transform itself by acquiring information and knowledge.the rules and principles that define right and wrong decisions and behavior.making decisions and implementing strategies that allow an organization to develop and maintain a competitive advantage.

Characteristics of dynamic capabilities include all of the following EXCEPT:timely responsiveness.reactive responsiveness.rapid and flexible product innovation.coordinating and deploying organizational resources and capabilities.

The role of top-level decision makers in the strategic management process is to:develop the overall goal that the organization hopes to achieve.establish the overall operational goals.establish functional strategies.supervise line managers.

Which of the following are strategic factors often used in depicting strategic groups?Image and qualityQuality and priceDistribution access and imageMarket share and image

__________ is an arrangement in which a foreign firm buys the rights to manufacture and market a company’s product in that country for a negotiated fee.Direct investmentJoint ventureFranchisingLicensing