1. Strategy is a set of key …………………… made to meet objectives.
Answer
Ans: key decisions
2. An organization cannot operate effectively without a …………………….
Answer
Ans: strategy
3. Strategy and tactics are distinct in terms of their ………………….
Answer
Ans: dimensions
4. Every tactic can be a significant ………… opportunity.
Answer
Ans: strategic
5. Strategy and tactics cannot always be ……………… in practice.
Answer
Ans: separated
6. There is a unique ………………… between strategy and tactics.
Answer
Ans: relationship
7. Business strategies help companies create a …………… advantage in the marketplace.
Answer
Ans: competitive
8. Corporate strategies provide direction when the company enters new ……………… markets.
Answer
Ans: economic
9. ………………… improves the ability of the organization to make its business vision a reality.
Answer
Ans: Strategic thinking
10. Strategic thinking has become a critical requirement of the ………………… process.
Answer
Ans: business
11. When problems are ……………… defined, the creative mind does not work well.
Answer
Ans: poorly
12. No matter how difficult or unprecedented the problem, a ……………… to the best possible solution can come only from a combination or rational analysis.
Answer
Ans: breakthrough
13. Strategic thinking is a ……………… and ……………… expanding process.
Answer
Ans: creative, mind
14. Strategic thinking deals with ……………… generating.
Answer
Ans: hypothesis
15. The strategy will be driven by our …………………… of the issues, and the strategic themes.
Answer
Ans: perception
16. Strategic thinking is aimed at putting us into the most …………………… position to engage the opposition.
Answer
Ans: favourable
17. The financial planning system is extended to estimate the …………………… needs.
Answer
Ans: capital
18. Procedures are developed to …………………… revenue, costs, and capital needs.
Answer
Ans: forecast
19. The major limitation of the long-range planning model is that information about the changing ………………… environment is usually not taken into account.
Answer
Ans: external
20. The key business issues are often ignored as the focus is on short or medium-term ……………… performance.
Answer
Ans: operating
21. Organizational environment consists of both …………… and …………… factors.
Answer
Ans: external and internal
22. Scanning must identify the …………… and …………… existing in the environment.
Answer
Ans: threats and opportunities
23. Each model uses short- and long-term ………… setting.
Answer
Ans: goal
24. An essential element of issues-based planning is effective team …………….
Answer
Ans: brainstorming
25. When changes in the external environment become predominant, they bring out the …………………… of a formal planning system.
Answer
Ans: limitations
26. The success of Strategic Planning has to do with the …………………… of the plan and …………………… of the organization.
Answer
Ans: acceptability, dynamics
27. The vision of the organization leads to its ……………… and its ……………….
Answer
Ans: Mission, values
28. The process and outcomes of visioning is to develop an effective basis for business ……………….
Answer
Ans: strategy
29. Teams or organizations need a shared …………………, not something that only a few people own.
Answer
Ans: vision
30. The vision and mission statements should provide clarity to the issues of ………………….
Answer
Ans: governance
31. When there is more than one theme in the objective there is a problem in evaluating the ………………….
Answer
Ans: performance
32. Some objectives are easy to ………………, some are not.
Answer
Ans: measure
33. ……………… objectives are the easiest to quantify.
Answer
Ans: Financial
34. A lack of …………… can make the objective redundant.
Answer
Ans: clarity
35. Objectives form an ………………… network.
Answer
Ans: interlocking
36. The marketing department, in order to meet its objectives desires to have all the products in the line readily available for ………………….
Answer
Ans: dispatch
37. We must make each of our objectives both ……………… and ……………….
Answer
Ans: challenging and attainable
38. The ‘……………’ may replace the objective in the mind of the employee and the focus of the objective will be lost.
Answer
Ans: why
39. Strategic management is an …………………… process that evaluates and controls the business.
Answer
Ans: ongoing
40. Strategic management can also be defined as a bundle of …………………….
Answer
Ans: decisions
41. Strategic …………………… gives a picture about what an organization must get into immediately in order to achieve the company’s vision.
Answer
Ans: intent
42. A vision is the …………………… to view things ahead of themselves.
Answer
Ans: potential
43. Environmental …………………… refers to a process of collecting, scrutinizing and providing information for strategic purposes.
Answer
Ans: scanning
44. Evaluation makes sure that the organizational strategy as well as its ………………… meets the organizational objectives.
Answer
Ans: implementation
45. The young engineers in India are very ………………… in learning new technologies.
Answer
Ans: flexible
46. Companies like Infosys and i-Flex are entering into IT products segments with their ………………… products to the global markets.
Answer
Ans: banking
47. …………………… ownership structures are a common phenomenon across Asian business groups.
Answer
Ans: Complex
48. In all Tata group affiliates, control is enhanced through …………………… structures, and cross-holdings among affiliates.
Answer
Ans: pyramidal
49. The strategy can be implied from the organization’s behaviours towards …………………… decisions.
Answer
Ans: technology
50. …………………… varies for an organization’s strategies for other classes of technology.
Answer
Ans: Accountability
51. The ……………… revolves around developing platforms for innovation and growth.
Answer
Ans: challenge
52. Many ……………… businesses have been eyeing India keenly.
Answer
Ans: trans-national
53. TSMG helps companies understand the ………………… of the Indian market and industry.
Answer
Ans: contradictions
54. TSMG assist in identification of strategic ……………… partners and ……………… targets.
Answer
Ans: alliance, acquisition
55. A business needs ……………………, but families want equality among members, so they practice nepotism.
Answer
Ans: meritocracy
56. Families look for high profit, high dividends, safety and security, while a business needs …………………… and …………………… ability.
Answer
Ans: growth, risk-taking
57. A business person could call and ask the ……………… for that product.
Answer
Ans: price
58. The impact of technology on business is seldom …………………… dimensional.
Answer
Ans: one
59. The impact of technology is not simply on ……………… firms.
Answer
Ans: individual
60. The major American automakers headquartered in …………… insisted that it would be impossible to meet those goals.
Answer
Ans: Detroit
61. Entire industries can be created or can disappear very quickly because of new …………………….
Answer
Ans: technologies
62. Today, the firm has become a consumer ………………… company that employs a wide range of cutting edge technologies not a camera manufacturer.
Answer
Ans: electronics
63. The goal of technology and innovation processes is to add …………………… to the business but not just for the purpose of creation.
Answer
Ans: value
64. In 2009, the prediction was for a …………………… per cent increase in technology spending.
Answer
Ans: 4
65. The concept of a Technological Innovation System was introduced as part of a wider theoretical school, called the …………………… approach.
Answer
Ans: innovation system
66. The Technological Innovation System approach often focuses on system …………………….
Answer
Ans: dynamics
67. The development of a Technological Innovation System will depend on the interrelations between all ………….
Answer
Ans: these actors
68. …………… structures are at the core of the innovation system concept.
Answer
Ans: Institutional
69. Structures involve …………………… that are relatively stable over time.
Answer
Ans: elements
70. The classic role of the …………………… is to translate knowledge into business opportunities, and eventually innovations.
Answer
Ans: entrepreneur
71. Many ……………… failed to achieve their objectives and resulted in poor performance because of improper implementation.
Answer
Ans: acquisitions
72. …………… of tacit knowledge, employees and literature are always delicate during and after acquisition.
Answer
Ans: Preservation
73. The rapid pace of ………………… change demands a cross-discipline approach.
Answer
Ans: technological
74. As technology changes, the tools of ……………… must change.
Answer
Ans: management
75. The range of ………………… and ………………… that a firm must examine can be broad.
Answer
Ans: tools, issues
76. A full range of tools needs to be considered when examining the ………………… of technology.
Answer
Ans: management
77. There are key decisions that need to be made as businesses and managers seek to manage ……………….
Answer
Ans: technology
78. The firm will have to determine the …………………… of products it wants to offer.
Answer
Ans: scope
79. Fostering ………… is essential to managing innovation.
Answer
Ans: creativity
80. Innovation directly involves the ………… and ………… of new products and/or processes.
Answer
Ans: discovery, development
81. Technology advances relentlessly, altering the ………… of business in all the markets that it touches.
Answer
Ans: rules
82. A tight ……………… between innovation and strategy will certainly be part of your master plan.
Answer
Ans: linkage
83. …………………… is the driver of change, and change is the most fundamentally important driver of business strategy.
Answer
Ans: innovation
84. Without a ………………… and ………………… effort at innovation Apple surely would not have survived.
Answer
Ans: focused, successful
85. The relationship between …………… and …………… is vital.
Answer
Ans: strategy, innovation
86. Organizations should first assess employee …………… and …………… level to determine their readiness for change.
Answer
Ans: knowledge, skill
87. The …………………… of a sound strategy facilitates a number of actions.
Answer
Ans: formulation
88. Strategic formulation allows the firm to plan its capital …………………….
Answer
Ans: budgeting
89. Ideas and practices emerge from …………… contacts between organizations.
Answer
Ans: collaborative
90. The nuts and bolts of strategy start with the …………… process.
Answer
Ans: selection
91. The key component of any strategy statement is to set the ………………… objectives of the organization.
Answer
Ans: long- term
92. An organization must practically fix the ………………… target values for some of the organizational objectives.
Answer
Ans: quantitative
93. Business ……………………… help companies create a competitive advantage in the marketplace.
Answer
Ans: strategies
94. Human resource departments have a focus on ………………… and ………………… skilled workers.
Answer
Ans: hiring, retaining
95. The structure of the organization should be …………… and responsibilities clearly laid out.
Answer
Ans: clear-cut
96. The most serious risk to cost leadership is …………… change that nullifies past investment or learning of the organization.
Answer
Ans: technological
97. Differentiation will cause buyers to prefer the company’s product/service over the brands of ………….
Answer
Ans: rivals
98. Successful differentiation creates lines of …………… against the five competitive forces.
Answer
Ans: defense
99. A ………………… strategist must beware of events that could impact the target market.
Answer
Ans: focus
100. The strategy involves a …………………… between profitability and sales volume.
Answer
Ans: trade- off
101. Organizational structure allocates ……………… value developing tasks and roles to the employees.
Answer
Ans: special
102. A very common mistake in strategic implementation is not developing ……………… in the process.
Answer
Ans: ownership
103. The specific …………………… process can vary from organization to organization.
Answer
Ans: implementation
104. Create a ………………… for implementing the strategic plan.
Answer
Ans: vision
105. First step is to …………………… your strategy in a way that people in your organization can rally to support its implementation.
Answer
Ans: clarify
106. ………………… strategy is the proverbial rubber hitting the road.
Answer
Ans: Cascading
107. Strategy formulation is an entrepreneurial activity based on strategic ………………-making.
Answer
Ans: decision
108. Strategy ……………… poses a threat to many managers and employees in an organization.
Answer
Ans: implementation
109. Strategic control approach is based on improving the …………………… capacity of the organization.
Answer
Ans: competitive
110. …………………… control is exercised by monitoring and evaluating systems.
Answer
Ans: Behaviour
111. Virtual structure is a grouping of business units that can address different strategic issues and ……………… environments.
Answer
Ans: competitive
112. The benefit of these virtual business units is their ability to tackle corporate strategic issues that the …………… business units cannot address on their own.
Answer
Ans: operational
113. In opportunity-based designs, owners of ………………… and ………………… typically exist within or alongside the business-unit structure.
Answer
Ans: opportunities, resources
114. In a traditional line organization, everything is connected directly to the ………………… structure.
Answer
Ans: formal
115. Output control specifies what is to be accomplished by focusing on the ………………… of the behaviours.
Answer
Ans: end result
116. Evaluation and control process determines whether the results are meaningful for the ………………… and add real value to the …………………….
Answer
Ans: organization, customer
117. Strategic ………………… is the final phase of strategic management.
Answer
Ans: evaluation
118. Strategic evaluation is as significant as strategy ………………….
Answer
Ans: formulation
119. Low cost dynamics could be considered as a …………… strategy that will create a sustainable competitive advantage.
Answer
Ans: competitive
120. Cost ………………… strategies across the activity cost chain will represent low cost dynamics.
Answer
Ans: reduction
121. The learning curve effect states that the ………………… times a task has been performed, the ………………… time will be required on each subsequent iteration.
Answer
Ans: more, less
122. The learning curve effect and the closely related experience curve effect express the relationship between ………………… and ………………….
Answer
Ans: experience, efficiency
123. When cash cows loose their appeal and move towards deterioration, then a …………… policy may be pursued.
Answer
Ans: retrenchment
124. …………… are generally new goods and services which have a good commercial prospective.
Answer
Ans: Question marks
125. …………………… can be either tangible or intangible.
Answer
Ans: Strengths
126. Opportunities are presented by the …………………… within which our organization operates.
Answer
Ans: environment
127. Positioning is a basic proposition in determining the generic strategies for …………………… advantage.
Answer
Ans: competitive
128. Few resources and competencies are difficult to …………………….
Answer
Ans: imitate
129. A business portfolio is the collection of Strategic Business Units (SBU) that makes up a ………………….
Answer
Ans: corporation
130. …………………… of business portfolio balancing have their greatest applicability in developing strategy at the corporate level.
Answer
Ans: Techniques
131. Strategic funds are invested in the new programs required to meet the organization’s ………………… and ………………….
Answer
Ans: goals, objectives
132. A market ……………………… strategy usually requires aggressive use of strategic funds for advertising and promotion.
Answer
Ans: expansion
133. Increasing competition in most industries has made it difficult for some companies to …………………….
Answer
Ans: compete
134. Many …………………… on strategic management and the strategic management process have emerged.
Answer
Ans: perspectives
135. Innovations are the outcome of the ……………………… process.
Answer
Ans: innovation
136. The critical for success technological innovation are ……………………… rather than technical.
Answer
Ans: commercial
137. c …………………… ideas.
Answer
Ans: business
138. Divergent thinking is the capability to expand the …………………… of mental models.
Answer
Ans: boundaries
