Sample Exam

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Sample Exam Multiple Choice Questions Answers

1. The starting point of the strategic management process is a. establishing objectives and target levels of performance. b. formulating a corporate strategy. c. defining an organisation's purpose and mission. d. evaluating the organisation's operating environment.
e. All of these apply.

(c is correct)

2. A company committed to social responsibility a. makes lower profits than a company that is not socially responsible. b. is generally a manufacturer instead of a service company. c. does not specify its corporate philosophy in its mission statement. d. uses strategies that generate both high social returns and good profits. e. pursues strategies that generate high social returns regardless of cost.

(d is correct)

3. Which of the following is not one of Porter's five competitive forces? a. Rivalry among established firms b. Threat of new entrants c. Height of exit barriers d. Bargaining power of suppliers e. Bargaining power of buyers

(c is correct)

4. Which of the following is not a component of the macroenvironment? a. Technological forces b. Political and legal forces c. Demographic forces d. Sociocultural forces e. Competitive forces

(e is correct)

5. Members of a strategic group a. compete directly with members of other strategic groups. b. are affected by Porter's five competitive forces to the same degree that members of other strategic groups are affected. c. pursue the same basic strategy as other members of their group. d. earn the same rate of return. e. All of these apply.

(c is correct)

6. A company's distinctive competencies a. represent the unique strengths of the company. b. refer to company strengths that competitors cannot easily match or imitate. c. form the bedrock of a company's strategy. d. can be based in any of the value creation functions of the company. e. All of these apply.

(e is correct)

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