Establishing and implementing ways of making things work is known as:





Which one of the following area can be the weakness of a firm?
Select correct option:

Changing lifestyle

High oil prices

Ineffective Marketing

Increasing pollution

Departmentalization can be done on the basis of many factors EXCEPT:
Select correct option:


Number of employees

Strategic business units


Developing a vision and a mission statement is important because of the following reasons EXCEPT:
Select correct option:

They are useful for large firms only

They establish organizational culture

They are the basis for allocating resources

They translate objectives into work structure

Which of the following are the five forces that affect the level of competition in an industry?
Select correct option:

Threat of entrants; power of buyers; power of suppliers; threat of substitutes; competitive rivalry

Threat of buyers; power of entry; power of substitutes; threat of suppliers; threat of recession

Threat of recession; power of buyers; power of suppliers; threat of management failure; competitive rivalry

Threat of entry; power of buyers; power of suppliers; threat of substitutes; government action

Identify the term that is known as a “mean of providing guidance to actions and procedures, including how resources are to be allocated and how tasks assigned to the organization might be accomplished”.
Select correct option:





Effective mission statements don’t have one of the following features:
Select correct option:

Generate range of feasible strategic alternatives

Reconcile interests among diverse stakeholders

What does the firm want to become

Provide criteria for selecting strategies

Which category of ratios measures a firm’s ability to meet maturing short-term obligations?
Select correct option:





All of the following are included in the five functions of the management process EXCEPT:
Select correct option:





Intuition is based on all of the following factors EXCEPT:
Select correct option:

Past experiences




Internal strengths and weaknesses that can significantly benefit or harm an organization may include all of the following EXCEPT:
Select correct option:

Production/ operations

Research & development


Management information system

The general conditions for competition that influence business firms, which provide similar products and services is known:
Select correct option:

Remote environment

International environment

External environment

Industry environment

Which of the following decisions determine the amount of funds that are retained in a firm compared to the amount paid out to stockholders?
Select correct option:





Which statement is CORRECT about strategic-management process?

It occurs once a year

It is a continuous process

It applies mostly to large business

It applies mostly to small businesses

Choose the economic variable from the list.
Select correct option:

Attitudes toward business

Attitudes toward product quality

Population changes by race

Stock market trends

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

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

In the process of developing a mission statement, which of the following is CORRECT?
Select correct option:

To involve as few managers as possible

To involve as many managers as possible

To involve upper-level management only

To involve the board of directors only

Which marketing function includes test marketing?
Select correct option:

Selling products/services

Customer analysis

Product/service planning


Which of the following are the factors that concern the nature and direction of the economy in which a firm operates?
Select correct option:





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