Lesson 13 Strategic Planning

There are 10 short multiple Choice Questions for this topic. Please circle the correct answer.

Q1 What is Strategy?

a) An internal response of an organization to the demands of the external environment.

b) The organisations tactic to overcome external competitive forces.

c) An organisations goal to realise its potential in the marketplace.

d) A way of dealing with short term competitive issues.

Q2 Strategic Planning helps us (Select all that apply)

a) establish priorities

b) choose actions

c) develop quick fixes

d) allocate resources

Q3 Strategic Planning asks us (Select all that apply)

a) Where are we now?

b) Where do we need to be?

c) How will we close the gap?

d) Why should we monitor our progress?

Q4 A Good Strategic Plan should (Select all that apply)

a) be focussed on short term goals

b) be flexible

c) guide decision making at lower levels

d) balance between capability vs. want

Q5 The Components of a Strategic Plan include

a) Vision, Mission, Logo, Corporate Beliefs

b) Vision, Objectives, Corporate Logo, SWOT

c) Vision, Core Business, Mission, SWOT

d) Mission, SWOT, Objectives, Action Plans

Q6 In terms of Strategic Planning S.M.A.R.T stands for

a) Supported Measures Actual Results Targeted

b) Specific Management Action Required Today

c) Specific Measureable Achievable Relevant Time-bound

d) Strong Marketing Action Results Targeted

Q7 Strengths and Weakeness are

a) uncontrollable internal factors

b) internal factors a Company can control

c) Opportunities as well as Threats

d) unable to be changed

Q8 Opportunities and Threats are

a) controllable external factors

b) able to be changed

c) Strengths as well as Weaknesses

d) external factors a Company cannot control

Q9 A Vision Statement must (Select all that apply)

a) point to the future

b) indicate the specific targets for success

c) identify a clear set of desirable conditions

d) communicate hope, energy, and destiny for all

Q10 A Mission Statement is (Select all that apply)

a) what we do.

b) a precise description of what an organization does.

c) a set of precise Actions that will be undertaken.

d) a description of what type of business the organization is in.

That concludes the Multiple Choice Quiz for this Lesson. Please check your answers.