#StrategicManagementTechnologyInnovationMCQ #MCQ #ExamPrep Master the essentials of Strategic Management of Technology and Innovation mcq set 1 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.
Q1: When the dominance of the CEO approaches autocracy, the effectiveness of the form’s strategic planning and management processes are likely to: D. Be diminished
A. Enhance strategic planning but diminish its processes
B. Be greatly enhanced
C. Have no effect
D. Be diminished
Answer
Q2: Cultural values would be part of which of the following factor in macro environment? c. Social
a. Economic
b. Natural
c. Social
d. Social
Answer
Q3: Which of these is usually positively correlated with the cost, comprehensiveness, accuracy and success of planning? A. Greater formality
A. Greater formality
B. Functional structure
C. Organizational matrix
D. Functional tactics
Answer
Q4: According to research, a healthier workforce can more effectively and efficiently implement strategies. Answer a. True
a. True
b. False
Answer
Q5: Optimizing for tomorrow the trends of today is the purpose of strategic management. Answer b. False
a. True
b. False
Answer
Q6: One of the fundamental strategy evaluation activities is reviewing external and internal factors that are the bases for current strategies. Answer a. True
a. True
b. False
Answer
Q7: When a firm seeks the benefits of global integration and local adaptation, it is best described as which type of strategy? a. Transnational
a. Transnational
b. Global
c. Multi-national
d. Multi-national
Answer
Q8: In contrast to the industrial organization model, in a resource-based model, which of the following factors would be considered a key to organizational success? d. loyal employees.
a. unique market niche.
b. weak competition.
c. economies of scale.
d. loyal employees.
Answer
Q9: When implementing a focus strategy, the firm seeks: d. to serve the specialized needs of a market segment.
a. to be the lowest cost producer in an industry.
b. to offer products with unique features for which customers will pay a premium.
c. to avoid being stuck in the middle.
d. to serve the specialized needs of a market segment.
Answer
Q10: In evaluating its customers, which of the following is NOT a relevant question? d. How will our top management team interact with the customer?
a. How will core competencies meet the customer’s needs?
b. Who is the customer?
c. What are the customers’ needs?
d. How will our top management team interact with the customer?
Answer
Q11: To find out what an organization’s strategy is, you should: b. Look at what the organization actually does
a. Read the mission statement
b. Look at what the organization actually does
c. Read the strategic plan
d. Read the strategic plan
Answer
Q12: What does Dog symbolize in BCG matrix? b. Decline
a. Growth
b. Decline
c. Maturity
d. Maturity
Answer
Q13: The __________ environment is composed of elements in the broader society that can influence an industry and the firms within it. a. general
a. general
b. competitor
c. sociocultural
d. industry
Answer
Q14: Annual objectives are long-term milestones that organizations must achieve to reach short-term objectives. Answer b. False
a. True
b. False
Answer
Q15: The word tactic is most likely to be associated with: c. Operational Strategy
a. Corporate strategy
b. Business Strategy
c. Operational Strategy
d. Operational Strategy
Answer
Q16: Consumer e-commerce is five times greater than business-to-business e-commerce. Answer b. False
a. True
b. False
Answer
Q17: Strategic-management must be a self-reflective learning process that familiarizes managers and employees in the organization with key strategic issues and feasible alternatives for resolving those issues. Answer a. True
a. True
b. False
Answer
Q18: Which of the following is NOT an entry barrier to an industry? d. bargaining power of suppliers
a. expected competitor retaliation
b. economies of scale
c. customer product loyalty
d. bargaining power of suppliers
Answer
Q19: Intangible assets include: a. the firm’s reputation.
a. the firm’s reputation.
b. a firm’s borrowing capacity.
c. depreciated capital assets.
d. manufacturing facilities.
Answer
Q20: Resource allocation is included in strategy-formulation activities. Answer a. True
a. True
b. False
Answer
Q21: Managers must be very formal in strategic planning because formality induces flexibility and creativity. Answer b. False
a. True
b. False
Answer
Q22: The changes that occurred at Disney after Robert Iger took over as CEO exemplifies the fact that more and more organizations are centralizing the strategic-management process. Answer b. False
a. True
b. False
Answer
Q23: Business-level strategies are concerned specifically with: a. creating differences between the firm’s position and its rivals.
a. creating differences between the firm’s position and its rivals.
b. the industries in which the firm will compete.
c. how functional areas will be organized within the firm.
d. how a business with multiple physical locations will operate one of those locations.
Answer
Q24: A CEO made a lot of mistakes such as committing errors in assessing the market and competitive conditions and improperly redesigning the organization into numerous business units. Such errors led to significant performance declines. According to the text, this example illustrates the __________ perspective of leadership. B. romantic
A. external control
B. romantic
C. internal mechanism
D. operational
Answer
Q25: Once an effective strategy is designed, modifications are rarely required. Answer b. False
a. True
b. False
Answer
Q26: An integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage in a specific product market is a definition of: a. business strategy.
a. business strategy.
b. core competencies.
c. sustained competitive advantage.
d. strategic mission.
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Q27: A strategic manager that seeks to reach acceptable profit targets as opposed to making as much profit as possible is making decisions of which type? b. Satisfying
a. Satisfactory
b. Satisfying
c. Irrational
d. Irrational
Answer
Q28: A company’s ability to meet its short-term financial obligations is measured by which of the following categories? A. liquidity ratios
A. liquidity ratios
B. profitability ratios
C. activity ratios
D. leverage ratios
Answer
Q29: Strengths and weaknesses are determined relative to competitors. Answer a. True
a. True
b. False
Answer
Q30: Newspaper companies in the United States provide a good example of how a company can sustain a competitive advantage over the long term. Answer b. False
a. True
b. False
Answer
Q31: Followed by commitment, understanding is the most important benefit of strategic management. Answer a. True
a. True
b. False
Answer
Q32: By monitoring external events, companies should be able to identify when change is required. Answer b. False
a. True
b. False
Answer
Q33: Strategy formulation, implementation and evaluation activities occur at three hierarchical levels in a large diversified organization: corporate, divisional and functional. Answer a. True
a. True
b. False
Answer
Q34: Anything the firm does especially well compared to rival firms could be considered a competitive advantage. Answer a. True
a. True
b. False
Answer
Q35: A company using a narrow scope in its business strategy is: c. limiting the group of product segments served.
a. following a cost leadership business strategy.
b. focusing on a broad array of geographic markets.
c. limiting the group of product segments served.
d. likely to earn only average returns.
Answer
Q36: Identifying an organization?s existing vision, mission, objectives and strategies is the final step for the strategic management process. Answer b. False
a. True
b. False
Answer
Q37: Strategic management is an attempt to organize qualitative and quantitative information in a way that allows effective decisions to be made under conditions of uncertainty. Answer a. True
a. True
b. False
Answer
Q38: An objective, logical, systematic approach for making major decisions in an organization is a way to describe the strategic-management process. Answer a. True
a. True
b. False
Answer
Q39: As defined in the text, resources: d. are the source of the firm’s capabilities.
a. are concrete sources of value.
b. are easily identified.
c. have two categories: generic and unique.
d. are the source of the firm’s capabilities.
Answer
Q40: A firm successfully implementing a differentiation strategy would expect: b. to charge premium prices.
a. customers to be sensitive to price increases.
b. to charge premium prices.
c. customers to perceive the product as standard.
d. to automatically have high levels of power over suppliers.
Answer
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