Strategic management of technology and innovation MCQ Set 7

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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