Mgt603 Quiz No. 1
Wednesday, November 10, 2010 Posted In MGT Edit This
Question # 1 of 20 ( Start time: 06:49:05 PM ) Total Marks: 1
Establishing and implementing ways of making things work is known as:
Select correct option:
Planning
Organizing
Leading
Controlling
Question # 2 of 20 ( Start time: 06:49:49 PM ) Total Marks: 1
Which of the following statement is TRUE about a Vision statement of a company?
Select correct option:
It concentrates on future
It defines the customers
It identify critical processes
It informs about the desired level of performance
Question # 3 of 20 ( Start time: 06:50:37 PM ) Total Marks: 1
Which of the following statements is NOT correct about a mission statement?
Select correct option:
It contains the definition of the company's business
It is called the picture of a company's future.
It is a statement containing the company's major goals
It is known as statement of the corporate philosophy
Question # 4 of 20 ( Start time: 06:51:39 PM ) Total Marks: 1
Which of the follwoing term represents the enduring statement of purpose that distinguish one business from other similar firms?
Select correct option:
Vision
Strategy
Mission
Tactics
Question # 5 of 20 ( Start time: 06:52:17 PM ) Total Marks: 1
Which one of the following is NOT a basic mission of a competitive intelligence program?
Select correct option:
To provide a general understanding of an industry
To provide a general understanding of a company's competitors
To identify industry executives who could be hired by the firm
To identify potential moves a competitor might make that would endanger a firm
Question # 6 of 20 ( Start time: 06:53:02 PM ) Total Marks: 1
Which of the following environment includes all those factors which affect the organization and itself affected by the organization?
Select correct option:
External environment
Social environment
Task environment
Internal environment
Question # 7 of 20 ( Start time: 06:53:38 PM ) Total Marks: 1
Which one of the following is NOT a key external force?
Select correct option:
Social responsibility
Ozone reduction
Company management
Energy conservation
Question # 8 of 20 ( Start time: 06:54:18 PM ) Total Marks: 1
All of the following fall under the category of "Process" function of production management EXCEPT:
Select correct option:
Choice of technology
Quality assurance
Process flow analysis
Transportation analysis
Question # 9 of 20 ( Start time: 06:55:29 PM ) Total Marks: 1
Technological advancements can create which of the following advantage besides many other existing powerful advantages for the businesses?
Select correct option:
Economic
Competitive
Social
Environmental
Question # 10 of 20 ( Start time: 06:56:03 PM ) Total Marks: 1
Which of the following statement is refered to 'Price fluctuation'?
Select correct option:
Decrease in prices
Increase in prices
Fluctuation in the prices of a particular commodity
Fluctuation in general price level
Question # 11 of 20 ( Start time: 06:56:36 PM ) Total Marks: 1
Which of the following is not a pitfall an organization should avoid in strategic planning?
Select correct option:
Failing to involve key employees in all phases of planning
Involving all managers rather than delegating planning to a planner
Top managers not actively supporting the strategic planning process
Doing strategic planning only to satisfy accreditation or regulatory requirements
Question # 12 of 20 ( Start time: 06:57:11 PM ) Total Marks: 1
All of the following fall under Pricing decisions EXCEPT:
Select correct option:
Discounts
Credit terms
Markups
Dealer relations
Question # 13 of 20 ( Start time: 06:58:21 PM ) Total Marks: 1
While preparing an External Factor Evaluation matrix, a total score of 0.8 indicates what?
Select correct option:
Firm is taking advantages of strengths and avoiding threats
Firm is not taking advantages of opportunities and is avoiding threats
Firm is not taking advantages of opportunities and is not avoiding threats
Firm is taking advantage of opportunities and is avoiding the threats
Question # 14 of 20 ( Start time: 06:58:58 PM ) Total Marks: 1
Reasons due to which some firms do "No Strategic Planning" incorporate all of the following EXCEPT:
Select correct option:
Wastage of time
Fire-fighting
Content with success
Privileged reward structures
Question # 15 of 20 ( Start time: 07:00:25 PM ) Total Marks: 1
Which of the follwoing are the guidelines of decision making?
Select correct option:
Laws
Rules
Policies
Goals
# 16 of 20 ( Start time: 07:01:37 PM ) Total Marks: 1
Different types of consumers are created due to new trends, which in turn require which type of products?
Select correct option:
Different products
Different services
Different strategies
All of the given options
Question # 17 of 20 ( Start time: 07:02:08 PM ) Total Marks: 1
Strategist is an individual who is involved in the strategic management process, thus may be known as:
Select correct option:
Member board of director
President
Division manager
All of the given options
Question # 18 of 20 ( Start time: 07:02:52 PM ) Total Marks: 1
What happens to the demand for discretionary goods when interest rates rise?
Select correct option:
Rises
Declines
Remains the same
First rises then declines
Question # 19 of 20 ( Start time: 07:03:28 PM ) Total Marks: 1
Which of the following can be considered one of the factors of external opportunities and threats of an organization?
Select correct option:
Production/ operations
Research & development
Competitive trends
Management information system
Question # 20 of 20 ( Start time: 07:03:59 PM ) Total Marks: 1
Which of the following period strategic management was considered to be cure for all problems?
Select correct option:
Mid 1950s to mid 1960s
Mid 1960s to mid 1970s
Mid 1970s to mid 1980s
Mid 1980s to mid 1990s
Establishing and implementing ways of making things work is known as:
Select correct option:
Planning
Organizing
Leading
Controlling
Question # 2 of 20 ( Start time: 06:49:49 PM ) Total Marks: 1
Which of the following statement is TRUE about a Vision statement of a company?
Select correct option:
It concentrates on future
It defines the customers
It identify critical processes
It informs about the desired level of performance
Question # 3 of 20 ( Start time: 06:50:37 PM ) Total Marks: 1
Which of the following statements is NOT correct about a mission statement?
Select correct option:
It contains the definition of the company's business
It is called the picture of a company's future.
It is a statement containing the company's major goals
It is known as statement of the corporate philosophy
Question # 4 of 20 ( Start time: 06:51:39 PM ) Total Marks: 1
Which of the follwoing term represents the enduring statement of purpose that distinguish one business from other similar firms?
Select correct option:
Vision
Strategy
Mission
Tactics
Question # 5 of 20 ( Start time: 06:52:17 PM ) Total Marks: 1
Which one of the following is NOT a basic mission of a competitive intelligence program?
Select correct option:
To provide a general understanding of an industry
To provide a general understanding of a company's competitors
To identify industry executives who could be hired by the firm
To identify potential moves a competitor might make that would endanger a firm
Question # 6 of 20 ( Start time: 06:53:02 PM ) Total Marks: 1
Which of the following environment includes all those factors which affect the organization and itself affected by the organization?
Select correct option:
External environment
Social environment
Task environment
Internal environment
Question # 7 of 20 ( Start time: 06:53:38 PM ) Total Marks: 1
Which one of the following is NOT a key external force?
Select correct option:
Social responsibility
Ozone reduction
Company management
Energy conservation
Question # 8 of 20 ( Start time: 06:54:18 PM ) Total Marks: 1
All of the following fall under the category of "Process" function of production management EXCEPT:
Select correct option:
Choice of technology
Quality assurance
Process flow analysis
Transportation analysis
Question # 9 of 20 ( Start time: 06:55:29 PM ) Total Marks: 1
Technological advancements can create which of the following advantage besides many other existing powerful advantages for the businesses?
Select correct option:
Economic
Competitive
Social
Environmental
Question # 10 of 20 ( Start time: 06:56:03 PM ) Total Marks: 1
Which of the following statement is refered to 'Price fluctuation'?
Select correct option:
Decrease in prices
Increase in prices
Fluctuation in the prices of a particular commodity
Fluctuation in general price level
Question # 11 of 20 ( Start time: 06:56:36 PM ) Total Marks: 1
Which of the following is not a pitfall an organization should avoid in strategic planning?
Select correct option:
Failing to involve key employees in all phases of planning
Involving all managers rather than delegating planning to a planner
Top managers not actively supporting the strategic planning process
Doing strategic planning only to satisfy accreditation or regulatory requirements
Question # 12 of 20 ( Start time: 06:57:11 PM ) Total Marks: 1
All of the following fall under Pricing decisions EXCEPT:
Select correct option:
Discounts
Credit terms
Markups
Dealer relations
Question # 13 of 20 ( Start time: 06:58:21 PM ) Total Marks: 1
While preparing an External Factor Evaluation matrix, a total score of 0.8 indicates what?
Select correct option:
Firm is taking advantages of strengths and avoiding threats
Firm is not taking advantages of opportunities and is avoiding threats
Firm is not taking advantages of opportunities and is not avoiding threats
Firm is taking advantage of opportunities and is avoiding the threats
Question # 14 of 20 ( Start time: 06:58:58 PM ) Total Marks: 1
Reasons due to which some firms do "No Strategic Planning" incorporate all of the following EXCEPT:
Select correct option:
Wastage of time
Fire-fighting
Content with success
Privileged reward structures
Question # 15 of 20 ( Start time: 07:00:25 PM ) Total Marks: 1
Which of the follwoing are the guidelines of decision making?
Select correct option:
Laws
Rules
Policies
Goals
# 16 of 20 ( Start time: 07:01:37 PM ) Total Marks: 1
Different types of consumers are created due to new trends, which in turn require which type of products?
Select correct option:
Different products
Different services
Different strategies
All of the given options
Question # 17 of 20 ( Start time: 07:02:08 PM ) Total Marks: 1
Strategist is an individual who is involved in the strategic management process, thus may be known as:
Select correct option:
Member board of director
President
Division manager
All of the given options
Question # 18 of 20 ( Start time: 07:02:52 PM ) Total Marks: 1
What happens to the demand for discretionary goods when interest rates rise?
Select correct option:
Rises
Declines
Remains the same
First rises then declines
Question # 19 of 20 ( Start time: 07:03:28 PM ) Total Marks: 1
Which of the following can be considered one of the factors of external opportunities and threats of an organization?
Select correct option:
Production/ operations
Research & development
Competitive trends
Management information system
Question # 20 of 20 ( Start time: 07:03:59 PM ) Total Marks: 1
Which of the following period strategic management was considered to be cure for all problems?
Select correct option:
Mid 1950s to mid 1960s
Mid 1960s to mid 1970s
Mid 1970s to mid 1980s
Mid 1980s to mid 1990s
Question # 1 of 20 ( Start time: 07:09:35 PM ) Total Marks: 1
The social factors that affect a firm involve all of the following EXCEPT:
Select correct option:
Attitudes of people in the external environment
Lifestyles of people
Per capita income
Values and beliefs of persons outside the firm
Question # 2 of 20 ( Start time: 07:10:17 PM ) Total Marks: 1
Investment decisions are also known as:
Select correct option:
Business finance
Capital structure
Capital budgeting
Dividend policy
Question # 3 of 20 ( Start time: 07:10:51 PM ) Total Marks: 1
Buyers can exercise high bargaining power over their suppliers under which one of the following conditions?
Select correct option:
When there are many good substitutes of raw material
There are few buyers in the market
They have few suppliers to choose from
There is a high concentration of suppliers
Question # 4 of 20 ( Start time: 07:11:34 PM ) Total Marks: 1
Which of the following is best identified as a statement that presents "a firm's big picture statement, describing a desired end-state, general in scope, and not restrictive"?
Select correct option:
Corporate philosophy statement
Company creed
Vision statement
Mission statement
Question # 5 of 20 ( Start time: 07:12:17 PM ) Total Marks: 1
Identify the stages of strategic management process in a precise sequence.
Select correct option:
Strategy evaluation, strategy formulation & strategy implementation
Strategy evaluation, strategy implementation & strategy formulation
Strategy formulation, strategy implementation & strategy evaluation
Strategy implementation, strategy evaluation & strategy formulation
Question # 6 of 20 ( Start time: 07:12:56 PM ) Total Marks: 1
For the past four years the ABC Corporation has been planning to expand its operations in order to reach out to the world market. Essentially, the ABC Corporation desires to do what?
Select correct option:
Become an online business
Become a brick-n-mortar business
Embrace globalization
Become a click-n-mortar business
Question # 7 of 20 ( Start time: 07:14:03 PM ) Total Marks: 1
Test marketing is commonly applied by which of the following companies?
Select correct option:
Industrial goods companies
Consumer goods companies
Public sector companies
Private sector companies
Question # 8 of 20 ( Start time: 07:14:41 PM ) Total Marks: 1
Which ***** would be classified as a stakeholder?
Select correct option:
Communities
Banks
Suppliers
All of the given options
Question # 9 of 20 ( Start time: 07:15:54 PM ) Total Marks: 1
Which of the following identified that "strategic management encourages forward thinking, favorable attitudes towards change and discipline to the management of business"?
Select correct option:
Greeley
Greenly
Greenley
Greenwich
Question # 10 of 20 ( Start time: 07:16:49 PM ) Total Marks: 1
In adapting to change an organization must monitor which of the following?
Select correct option:
Ongoing processes
Internal and external events
Timely changes
All of the given options
Question # 11 of 20 ( Start time: 07:17:27 PM ) Total Marks: 1
Which of the following is the process of influencing people to accomplish specific objectives?
Select correct option:
Staffing
Motivating
Controlling
Organizing
Question # 12 of 20 ( Start time: 07:17:59 PM ) Total Marks: 1
Which one of the following is NOT a key external force?
Select correct option:
Social responsibility
Ozone reduction
Company management
Energy conservation
Question # 13 of 20 ( Start time: 07:18:30 PM ) Total Marks: 1
The mission statement answers which of the following question?
Select correct option:
What is our business?
How can we improve ourselves?
What do we want to become?
Who are our stakeholders?
Question # 14 of 20 ( Start time: 07:19:41 PM ) Total Marks: 1
Internal analysis involves gathering and analyzing the information about all areas of a firm EXPECT:
Select correct option:
Research nad development
Management information system
Marketing
Competitors
Question # 15 of 20 ( Start time: 07:20:25 PM ) Total Marks: 1
Which of the following can reveal the demographic characteristics of an organization's customers?
Select correct option:
Customer profiling
Test marketing
Market development
The vision statement
Question # 16 of 20 ( Start time: 07:21:28 PM ) Total Marks: 1
Opportunity analysis is one of the basic functions of which one of the following?
Select correct option:
Computer information systems
Marketing
Production/operations
Research and development
Question # 17 of 20 ( Start time: 07:22:42 PM ) Total Marks: 1
What are historical narratives describing the unique accomplishments of a ***** and its leaders, usually in heroic terms?
Select correct option:
Rites
Sagas
Stories
Myths
Question # 18 of 20 ( Start time: 07:23:18 PM ) Total Marks: 1
"A Good mission statement identifies the utility of a firm's products to its customers"; which of the following represents this statement?
Select correct option:
Organization's philosophy
Customer orientation
Social policy
Declaration of attitude
Question # 19 of 20 ( Start time: 07:23:57 PM ) Total Marks: 1
A system of several rites connected with a single occasion or event is known as:
Select correct option:
Myth
Ceremonial
Saga
Legend
Question # 20 of 20 ( Start time: 07:24:45 PM ) Total Marks: 1
Which of the following are developed in strategy implementation phase of strategic management?
Select correct option:
Vision and mission
Annual objectives
Strengths and weaknesses
Opportunities and threats
The social factors that affect a firm involve all of the following EXCEPT:
Select correct option:
Attitudes of people in the external environment
Lifestyles of people
Per capita income
Values and beliefs of persons outside the firm
Question # 2 of 20 ( Start time: 07:10:17 PM ) Total Marks: 1
Investment decisions are also known as:
Select correct option:
Business finance
Capital structure
Capital budgeting
Dividend policy
Question # 3 of 20 ( Start time: 07:10:51 PM ) Total Marks: 1
Buyers can exercise high bargaining power over their suppliers under which one of the following conditions?
Select correct option:
When there are many good substitutes of raw material
There are few buyers in the market
They have few suppliers to choose from
There is a high concentration of suppliers
Question # 4 of 20 ( Start time: 07:11:34 PM ) Total Marks: 1
Which of the following is best identified as a statement that presents "a firm's big picture statement, describing a desired end-state, general in scope, and not restrictive"?
Select correct option:
Corporate philosophy statement
Company creed
Vision statement
Mission statement
Question # 5 of 20 ( Start time: 07:12:17 PM ) Total Marks: 1
Identify the stages of strategic management process in a precise sequence.
Select correct option:
Strategy evaluation, strategy formulation & strategy implementation
Strategy evaluation, strategy implementation & strategy formulation
Strategy formulation, strategy implementation & strategy evaluation
Strategy implementation, strategy evaluation & strategy formulation
Question # 6 of 20 ( Start time: 07:12:56 PM ) Total Marks: 1
For the past four years the ABC Corporation has been planning to expand its operations in order to reach out to the world market. Essentially, the ABC Corporation desires to do what?
Select correct option:
Become an online business
Become a brick-n-mortar business
Embrace globalization
Become a click-n-mortar business
Question # 7 of 20 ( Start time: 07:14:03 PM ) Total Marks: 1
Test marketing is commonly applied by which of the following companies?
Select correct option:
Industrial goods companies
Consumer goods companies
Public sector companies
Private sector companies
Question # 8 of 20 ( Start time: 07:14:41 PM ) Total Marks: 1
Which ***** would be classified as a stakeholder?
Select correct option:
Communities
Banks
Suppliers
All of the given options
Question # 9 of 20 ( Start time: 07:15:54 PM ) Total Marks: 1
Which of the following identified that "strategic management encourages forward thinking, favorable attitudes towards change and discipline to the management of business"?
Select correct option:
Greeley
Greenly
Greenley
Greenwich
Question # 10 of 20 ( Start time: 07:16:49 PM ) Total Marks: 1
In adapting to change an organization must monitor which of the following?
Select correct option:
Ongoing processes
Internal and external events
Timely changes
All of the given options
Question # 11 of 20 ( Start time: 07:17:27 PM ) Total Marks: 1
Which of the following is the process of influencing people to accomplish specific objectives?
Select correct option:
Staffing
Motivating
Controlling
Organizing
Question # 12 of 20 ( Start time: 07:17:59 PM ) Total Marks: 1
Which one of the following is NOT a key external force?
Select correct option:
Social responsibility
Ozone reduction
Company management
Energy conservation
Question # 13 of 20 ( Start time: 07:18:30 PM ) Total Marks: 1
The mission statement answers which of the following question?
Select correct option:
What is our business?
How can we improve ourselves?
What do we want to become?
Who are our stakeholders?
Question # 14 of 20 ( Start time: 07:19:41 PM ) Total Marks: 1
Internal analysis involves gathering and analyzing the information about all areas of a firm EXPECT:
Select correct option:
Research nad development
Management information system
Marketing
Competitors
Question # 15 of 20 ( Start time: 07:20:25 PM ) Total Marks: 1
Which of the following can reveal the demographic characteristics of an organization's customers?
Select correct option:
Customer profiling
Test marketing
Market development
The vision statement
Question # 16 of 20 ( Start time: 07:21:28 PM ) Total Marks: 1
Opportunity analysis is one of the basic functions of which one of the following?
Select correct option:
Computer information systems
Marketing
Production/operations
Research and development
Question # 17 of 20 ( Start time: 07:22:42 PM ) Total Marks: 1
What are historical narratives describing the unique accomplishments of a ***** and its leaders, usually in heroic terms?
Select correct option:
Rites
Sagas
Stories
Myths
Question # 18 of 20 ( Start time: 07:23:18 PM ) Total Marks: 1
"A Good mission statement identifies the utility of a firm's products to its customers"; which of the following represents this statement?
Select correct option:
Organization's philosophy
Customer orientation
Social policy
Declaration of attitude
Question # 19 of 20 ( Start time: 07:23:57 PM ) Total Marks: 1
A system of several rites connected with a single occasion or event is known as:
Select correct option:
Myth
Ceremonial
Saga
Legend
Question # 20 of 20 ( Start time: 07:24:45 PM ) Total Marks: 1
Which of the following are developed in strategy implementation phase of strategic management?
Select correct option:
Vision and mission
Annual objectives
Strengths and weaknesses
Opportunities and threats
