#StrategicManagementTechnologyInnovationMCQ #MCQ #ExamPrep Master the essentials of Strategic Management of Technology and Innovation mcq set 7 with expertly crafted multiple-choice questions (MCQs) designed to excel in your exams. Explore key concepts, decision-making frameworks, and innovation strategies efficiently. Boost your knowledge and score with comprehensive practice.
Q241. The Generic Strategy of focus entails choosing a narrow competitive scope and:
a) Serving all buyer groups equally
b) Excluding certain buyer groups
c) Expanding across various industries
d) Adapting a general approach
Answer
b) Excluding certain buyer groups
Q242. A Strategic Plan is a written document detailing the business’s:
a) Financial performance
b) Administrative structure
c) Marketing tactics
d) Goals and plans
Answer
d) Goals and plans
Q243. Strategy Formulation involves making decisions and developing strategic goals to:
a) Implement a pre-defined plan
b) Monitor financial performance
c) Respond to market changes
d) Guide future actions
Answer
d) Guide future actions
Q244. Strategy Implementation encompasses the activities required to:
a) Develop financial parameters
b) Create new business plans
c) Execute a strategic plan
d) Initiate market research
Answer
c) Execute a strategic plan
Q245. Behaviour Control is maintained by:
a) Setting strategic goals
b) Monitoring and evaluating systems
c) Responding to competitive threats
d) Pursuing financial expansion
Answer
b) Monitoring and evaluating systems
Q246. Generic competitive strategies are designed to help organizations:
a) Change their industry focus
b) Work independently of competition
c) Respond to market changes
d) Outperform competition and safeguard industry position
Answer
d) Outperform competition and safeguard industry position
Q247. A Generic Strategy of focus involves concentrating on a:
a) Broad competitive scope
b) Wide range of industries
c) Narrow competitive scope
d) Diverse set of buyer groups
Answer
c) Narrow competitive scope
Q248. A Strategic Plan outlines the business’s aspirations and:
a) Administrative roles
b) Implementation approach
c) Financial parameters
d) Plans for goals attainment
Answer
d) Plans for goals attainment
Q249. Strategy Formulation involves crafting:
a) Administrative procedures
b) A monitoring system
c) Organizational goals and plans
d) Financial forecasts
Answer
c) Organizational goals and plans
Q250. Strategy Implementation involves the sum total of activities required to:
a) Formulate a strategic plan
b) Develop financial parameters
c) Execute a monitoring system
d) Execute a strategic plan
Answer
d) Execute a strategic plan
Q251. Behaviour Control is exerted through continuous:
a) Monitoring and evaluation
b) Strategic planning
c) Financial forecasting
d) Market research
Answer
a) Monitoring and evaluation
Q252. A Cash Cow refers to a business venture that:
a) Generates occasional profits
b) Requires constant financial infusion
c) Provides steady profits exceeding costs
d) Demands substantial starting capital
Answer
c) Provides steady profits exceeding costs
Q253. Opportunities in the business context emerge from the:
a) Internal resources of the organization
b) Environmental conditions
c) Organizational strengths
d) Past performance records
Answer
b) Environmental conditions
Q254. Strengths in an organization are attributes that enable the achievement of:
a) Financial losses
b) Administrative tasks
c) Organizational mission
d) Market expansion
Answer
c) Organizational mission
Q255. Threats in the external environment arise when conditions:
a) Create financial benefits
b) Enhance administrative tasks
c) Jeopardize reliability and profitability
d) Generate market expansion
Answer
c) Jeopardize reliability and profitability
Q256. Weaknesses in an organization are characteristics that hinder the accomplishment of:
a) Financial goals
b) Administrative efficiency
c) Organizational mission
d) Market expansion
Answer
c) Organizational mission
Q257. Divestment refers to the sale of healthy firms that do not align with the organization’s strategic plan or those businesses that the organization:
a) Plans to operate effectively
b) Aims to acquire
c) Cannot operate effectively
d) Intends to merge with
Answer
c) Cannot operate effectively
Q258. A Profit Strategy capitalizes on a situation where a long-time trend or product type is being replaced by a:
a) Static trend
b) Recurrent trend
c) New trend or product
d) Consistent trend
Answer
c) New trend or product
Q259. Spin-off occurs when an organization establishes a separate business unit through a distribution of stock or a cash deal, which aligns with a strategy of:
a) Market expansion
b) Business integration
c) Withdrawal
d) Administrative restructuring
Answer
c) Withdrawal
Q260. Stability Strategies are characterized by:
a) Significant changes
b) A proactive approach
c) Bold initiatives
d) An absence of significant changes
Answer
d) An absence of significant changes
Q261. Stable Growth implies that the organization’s strategy involves:
a) Maintaining the status quo
b) Rapid expansion
c) Frequent changes
d) Consistent downsizing
Answer
a) Maintaining the status quo
Q262. Worldwide Sourcing refers to multinational companies integrating their supply chain by:
a) Limiting production to local plants
b) Operating suppliers’ plants abroad
c) Eliminating global production processes
d) Focusing on domestic markets only
Answer
b) Operating suppliers’ plants abroad
Q263. Some innovations, such as new products or services in retailing financial services, are facilitated by:
a) Traditional methods
b) Administrative procedures
c) Advanced technology
d) Random chance
Answer
c) Advanced technology
Q264. Strategic Innovation refers to creative business ideas that are:
a) Minor enhancements
b) Slight adjustments
c) Incremental improvements
d) Wholly and radically new
Answer
d) Wholly and radically new
Q265. The Technological Innovation System is a concept aimed at explaining the nature and rate of:
a) Financial changes
b) Administrative adjustments
c) Technological advancements
d) Random innovations
Answer
c) Technological advancements
Q266. Some innovations, including new products or services in financial services, are facilitated by the introduction of:
a) Outdated technologies
b) Simplified methods
c) Advanced technology
d) Administrative procedures
Answer
c) Advanced technology
Q267. Strategic Innovation entails creative business ideas that ultimately lead to:
a) Slight shifts in operations
b) Incremental adjustments
c) Radical changes in business or life
d) Routine administrative procedures
Answer
c) Radical changes in business or life
Q268. The Technological Innovation System concept is specifically developed within the field of:
a) Financial management
b) Administrative studies
c) Innovation studies
d) Traditional methodologies
Answer
c) Innovation studies
Q269. Some innovations, particularly those in technology, can facilitate new products or services in various sectors, including:
a) Manufacturing
b) Administration
c) Marketing
d) Financial management
Answer
d) Financial management
Q270. Strategic Innovation is characterized by ideas that:
a) Maintain the status quo
b) Require minor adjustments
c) Radically alter business or life
d) Rely solely on administrative procedures
Answer
c) Radically alter business or life
Q271. The Technological Innovation System concept serves to explain the nature and pace of:
a) Financial transactions
b) Technological advancements
c) Administrative routines
d) Traditional methods
Answer
b) Technological advancements
Q272. Certain innovations, facilitated by new technology, can lead to new products or services in various sectors, including:
a) Administrative procedures
b) Traditional methods
c) Financial services
d) Manual labor
Answer
c) Financial services
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