1 1. What is a low cost strategy to cater to (only) a specific market segment?

2
3 a. Functional strategy
4 b. Cost leadership
5 c. Cost focus
6
7 2. Which part of the Strategic management framework includes the Core Competencies?
8
9 a. Strategy implementation
10 b. Evaluation & control
11 c. Strategy formulation
12 d. Environmental scanning
13
14 3. Which of the following need not be an attribute of a Cost leader?
15
16 a. Able to create an entry barrier for the new entrants
17 b. Catering to a mass market
18 c. Premium pricing
19 d. Availing huge discounts on the purchases
20
21 4. What is the strategy is all about (choose the wrong answer)?
22
23 a. How to respond to the changing economic conditions
24 b. How to delight the customers
25 c. None of these
26 d. How to compete in the market place
27 e. How to capitalize on the emerging opportunities to grow
28
29 5. Which of the following is/ are the driving belief(s) that define a firm’s culture and
support its future competitive advantage?
30
31 a. Objectives
32 b. Values
33 c. Vision
34 d. Mission
35
36 6. What should an organization achieve exceedingly well to achieve its long-term
strategy?
37
38 a. Core competence
39 b. Priority actions
40 c. Key result areas
41 d. Values
42
43 7. Which of the following provides some guidance with regard to an organization’s
products and customers?
44
45 a. Performance
46 b. Mission
47 c. Policies
48 d. Programs
49 e. Vision
50
51 8. Which of the following is an incorrect answer relating to the Strategic thinking?
52
53 a. What should we be doing and why?
54 b. How did we do in the last financial year?
55
56 9. Which of the following relates to a firm’s opportunities & challenges posed in the
external context?
57
58 a. Positioning
59 b. Values
60 c. Vision
61 d. Capability
62 e. Culture
63
64 10. Choose the correct answer:
65
 66 a. Vision is more concrete than the Policies
67 b. Strategy is more concrete than the Vision
68 c. Policies are not as practical as the Strategies
69
70 11. What do the Core competencies mean?
71
72 a. An organization’s existing & targeted products, processes and customers
73 b. A company’s most competent employees
74 c. The assets which an organization will exploit to gain competitive advantage
75
76 12. Which of the following plans/ activities can be called a strategy?
77
78 a. Reducing cost of your product by 3% over the (closest) competitive product
79 b. Reduction of rejection from 5% to 4%
80 c. None of these
81 d. Improving the Cycle time of an operation by 2%
82 e. Improvement of the gross profit margin from 5% to 6%
83
84 13. A poor dealer network creates a poor:
85
86 a. Capability
87 b. Expertise
88 c. Positioning
89
90 14. Overestimating a likelihood of positive events, or underestimating a likelihood of
negative events, are examples of:
91
92 a. Pattern-recognition biases
93 b. Loss aversion
94 c. Overconfidence
95 d. Excessive optimism
96 e. Social biases
97
98 15. Which of the following comprises an organization’s Values?
99
100 a. Strategic objectives
101 b. Strategy statement
102 c. Priority actions
103 d. Action plans
104
105 16. Which of the following is not used in Mintzberg’s Crafting strategy?
106
107 a. Pattern
108 b. Position
109 c. Plan
110 d. Product
111 e. Perspective
112
113 17. Paying attention to the historical costs, while considering a future course of
action, is an example of:
114
115 a. Status quo bias
116 b. Stability biases
117 c. 4P strategy
118 d. 4C strategy
119
120 18. What could be the (unsuspected) difficulty(ies) in the strategic planning process?
121
122 a. Periodic reviews
123 b. Lack of Ownership and Commitment by Management
124 c. A simple plan which is easy to be understood by all concerned
125 d. Availability of adequate resources
126 e. Getting good support from all the stakeholders
127
128 19. Which of the following is the first step towards crafting a strategy?
129
130 a. Pattern
131 b. Planning
132 c. Position
133
134 20. Choose the correct answer:
135
136 a. All of these
137 b. Measurement process is used to compare the original needs against the implemented
actions
138 c. Operational planning process develops the strategies into the achievable action plans
139 d. Benchmarking process ensures that the industry best practices are included in the
Vision
140
141 21. Choose correct answer:
142
143 a. All of these
144 b. Strategy consists of the important actions necessary to realize a firm’s mission
145 c. Strategy is a pattern that integrates an organization’s goals, policies and action
146 d. Strategy is a plan to achieve a specific result
147 e. Strategy is about creating a unique and valuable position
148
149 22. Which strategic model was developed by Kenichi Ohmae?
150
151 a. 3P
152 b. 4P
153 c. 3C
154 d. Core competency
155 e. 4C
156
157 23. What do we need to do to assess the current situation so as to formulate a strategy?
158
159 a. Create our vision
160 b. Understand and assess our financial and competitive capabilities
161 c. Create our mission
162 d. Prepare our plan to achieve the targeted financial performance
163
164 24. Which of the following is related to the Brand name, Customer relationship and
Distribution channel?
165
166 a. Business definition
167 b. Positioning
168 c. Core competencies
169 d. Capabilities
170
171 25. Which of the following is an example of Working with some competitors so as to gain
advantage against other competitors?
172
173 a. Cooperative strategy
174 b. Competition strategy
175 c. Vision/ Mission
176 d. Corporate strategy
177 e. Business strategy
178
179 26. A strategy to grow the market share, from 25% to 75%, is an example of:
180
181 a. Cost leadership
182 b. Functional strategy
183 c. Corporate strategy
184 d. Business strategy
185
186 27. Which of the following is not included in VRIO?
187
188 a. Value
189 b. Rarity
190 c. Imitability
191 d. Objective
192
193 28. Which of the following provides a moral guidance to a firm’s managers?
194
195 a. Capabilities
196 b. Values
197 c. Mission
198 d. Position