Business Policies & Strategic Management

SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A

The development of long-range plans for the effective management of
Strategy
environmental opportunities and threats, in light of corporate strengths & Strategic Intent Business Policy Budget
Formulation
A1 weakness is called as__ 1
“Basically, a strategy is a set of decisions-making rules for the guidance of Alfred D
Porter Mintzberg F W Taylor
A2 organisational behaviour” This definition was given by ___ Chandler 4
Means by which previously determined plans are executed is called as__ Plans Strategies Tactics Goals
A3 3
An action plan built to achieve a specific goal or set of goals within a definite time,
Budget Tactics Business Policy Strategy
while operating in an organizational framework is called as__
A4 4

___ is the study of the function and responsibilities of Senior Management, the
Business
crucial problems that affect success in the total enterprise, and the decisions that Budget Business Policy Business Plan
Forecast
determine the directions of the organisation and shape of its future
A5 3
Strategic
What is a path finder for business opportunities? Business Policy Planning User SWOT analysis Budget analysis
A6 Answer 2

Strategy is a term that comes from the Greek Strategia, meaning _____ Dictatorship Generalship Commandership Chairmanship
A7 2
A party that can affect or be affected by the actions of the business as a whole is
Employee Creditor Stakeholder Customer
A8 called as__ 3
Strategic
A semi-autonomous unit within an organization is called as__ Branch Subsidiary sister concern
A9 Business Unit 1
Mintzberg User Alfred D
Who provides five definitions of strategy: Plan, Ploy, Pattern, Position, Perspective F W Taylor Porter
A10 Answer Chandler 3
A11 The Concept of Strategy started in 1930s 1950s 1960s 1940s 4
The process of building capabilities that allow a firm to create value for Strategic
Resource Scientific
customers, shareholders, and society while operating in competitive markets is management Strategic plan
management management
A12 called as User Answer 1
Strategies User
What are the means by which long term objectives will be achieved? Policies Strengths Opportunities
A13 Answer 1
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A
The role by which an organization intends to serve its stakeholders is included in Mission
Strategic Intent Business Policy Vision
B1 the___ Statement 3
B2 Goals should be SMART. In this T stands for Time-based Tactics Truthful Tenable 1
_____ includes defining the corporate mission, specifying achievable objectives, Strategy
Strategic Intent Business Policy Business Plan
B3 developing strategy & setting policy guidelines Formulation 3
A mental perception of the kind of environment an individual, or an organisation,
aspires to create within a broad time horizon and underlying conditions for the Objective Goal Mission Vision
actualisation of this perception is called as ___
B4 4
Top Management finalises the objectives and sends them downwards for Centralised Bottom Up Top Down Autocratic
B5 consideration, suggestion and implementation. This is called as ___ approach Approach Approach approach 3
B6 The _____ analysis reveals opportunities and threats external Micro situational internal 1
The essential purpose of the organisation, concerning particularly, why it is in
existence, the nature of businesses it is in, and the customers it seeks to serve Objectives Goal Mission Vision
B7 and satisfy is called as ___ 3
B8 The specific Task to be performed by specific employee is called as ___ Action plan Goal Objective KRA 1
____ tells us about the ultimate end results the company wants to accomplish Mission Goal Objective Vision
B9 3
B10 The ____ analysis can identify the firm's strengths and weaknesses. Macro internal situational internal 2

Low level management staff is asked to prepare the objectives and send them Centralised Bottom Up Top Down Autocratic
downwards for consideration, suggestion and alteration. This is called as ___ approach Approach Approach approach
B11 2
___ gives a picture about what an organization must get into immediately in
Strategic intent Budget Business Policy Business Plan
B12 order to use the opportunity 1
The ____ refers to the environment that most closely linked to the firm and international macro- micro- Social
C1 affects the organization directly environment environment environment environment 3
partly
The external factors are generally regarded as ____ factors controllable uncontrollable manageable
C2 controllable 3
C3 In "PESTEL" L stands for ____ Local Logical Legal Liberal 3
The prospects of a business depend not only on its resources but also on the
environment ecology finance society
C4 _____ 1
The _____ includes the customs, traditions, taboos, tastes and preferences, of customer socio-cultural Macro Consumer
C5 people satisfaction Environment Environment Research 2
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A
___ refers to natural resource such as forest and mineral wealth, weather and Technological socio-cultural Macro Ecological
C6 climatic conditions environment Environment Environment factors 4
Gathering, filtering and analysing the information related to environment is called Environment Environment Environment
Survey
C7 as Scrutiny Analysis Scanning 4
____ refers to the innovation in the efficiency of a machinery, or manufacturing Environment Macro
Technology Research
C8 process, raw material mix Scanning Environment 3
Marketing
Aperson who buys goods and services from you is called as ___ customer Supplier Public
C9 intermediaries 1
According to ____ “A company’s marketing environment consists of the actors
and forces that affect the company’s ability to develop and maintain successful Porter Mintzberg F W Taylor Philip Kotler
transactions and relationships with its target customers.”
C10 4
The firms that aid the company in promoting, selling and distributing its goods to Marketing Marketing
Consultants Sales men
C11 final buyers are called as ___ Manager intermediaries 3
The person who supplies the inputs like raw materials and components to the Marketing
customer Supplier Public
C12 company is called as ___ intermediaries 2
____ include factors like the size, growth rate, age composition, sex composition, Environment Demographic Macro socio-cultural
C13 family size, economic stratification of the population Scanning Dynamics Environment Environment 2
The process by which the strategist monitors the political, economical, social,
technological, ecological, legal and international settings to determine the Environment Environment Environment
Survey
opportunities and threats to their firms and to take policy decisions is called as Scrutiny Analysis Scanning
C14 _____ 3
partly
The internal factors are generally regarded as ____ factors controllable uncontrollable unmanageable
C15 controllable 2
Procuring the Right quality and Right quantity at Right Time and Right Priceis
Acquisition Outsourcing Stability Consolidation
D1 called as ___ strategy 1
The ____ strategy is a result of company efficiency, size, scale, scope and
focus cost leadership differentiation consolidation
D2 accumulated experience 2
Making an organization or brand stand out by providing unique features, benefits,
focus cost leadership differentiation consolidation
services or other elements of your solution is called as ___
D3 3
Which strategy is designed to help a firm target a specific niche within an industry
focus cost leadership differentiation consolidation
D4 such as particular buyer group?
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A
The ___ Strategy deals with product and process innovation and improvement. Acquisition R&D Outsourcing Innovation
D5 2
The _____ strategy provides unique features that fulfil the demands of a narrow focused focused cost
focus cost leadership
D6 segment of market. differentiation leadership 3
The _____ strategies include the plans or methods a firm may use to conduct Business Unit
Departmental Corporate level Functional level
D7 numerous functions in operating their business level 2
D8 The _____strategies reduce the company’s level of activities growth consolidation Stability Retrenchment 4
The ____ strategy fundamentally is concerned with the selection of businesses in Business Unit
Departmental Corporate level Functional level
D9 which the company should compete level 3
The _____ strategies make no change to the company’s current activities growth consolidation Stability Retrenchment
D10 3
The _____ Strategy emphasizes the improvement of operational efficiency and is
probably most appropriate when a corporation’s problems are pervasive but not
D11 yet critical. growth Turnaround Rehabilitation Stability 2
A division, product line, or other profit center that can be planned independently strategic
Department Branch Subsidiary
D12 from the other business units of the firm is called as ___ business unit 3
When a company finds itself in the worst possible situation with a poor
sell out Turnaround Rehabilitation Liquidation
competitive position in an industry with few prospects, it adopts ______ strategy.
D13 4
The _____ strategy makes sense if managements can still obtain a good price for
D14 its shareholders and the employees can keep their jobs sell out Turnaround Rehabilitation Liquidation 1
The ___ Strategy is a very deliberate attempt to make only incremental Pause/Proceed
growth combination Stability
improvements until a particular environmental situation changes With Caution
D15 1
A function of deciding a right product strategy, a right place strategy, a right
pricing strategy and a right promotion strategy so as to achieve customer
HR Marketing Financial Operational
satisfaction and augment the sales of the organisation is called as Strategic ____
E1 Management 2
An outline of the methods and resources required to achieve organizational goals Strategic
Business Model Budget Business Plan
E2 within a specific target market is called as ___ marketing plan 3
A strategy to use the right marketing channels, at the right time, right cost and Promotion Distribution Product
Pricing policy
right place to reach the right customers to sell a product is called as ____ strategy strategy differentiation
E3 3
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A
The application of financial techniques to strategic decisions in order to help
HR Marketing Financial Operational
achieve the decision-maker's objectives is called as Strategic ____ Management
E4 3
The ____ is a business level strategy in which firms attempt to create and exploit Purchasing Promotion Product
Pricing policy
differences between their products and those offered by competitors. Strategy strategy differentiation
E5 3
The strategic issues at the____ level are related to business processes and the
Departmental Business Unit Corporate Functional
E6 value chain. 4
Communicating with the customers about the product through various activities
Purchasing Product Promotion
like advertising, personal selling, publicity, and public relations to achieve the Pricing policy
Strategy differentiation strategy
increase in demand for the product is called as ___
E7 3
The ____ deals with the life of a product in the market with respect to business or Product life cycle Strategic
Market Research Business Plan
commercial costs and sales measures (PLC) marketing plan
E8 3
Functional level strategies involve the development and coordination of resources
Departmental Business Unit Corporate Functional
through which ____ level strategies can be executed efficiently
E9 2
Strategic ____ Management aims at increasing the quality and quantity of the
R&D HR Operations Financial
E10 output and decreasing the cost of the output. 3
The _____ Strategy determines how and where a product or service is to be
manufactured, the level of vertical integration in the production process and the Financial Operation R&D HR
E11 deployment of physical resources. 2
Strategic ____ Management is a function that deals with procurement of raw
materials, management of inventory, manufacturing process and logistic
management so that the quality of the end product conforms to the goals of the
organisation and industry standards and meets the expectations of the
E12 customers. Operations HR Marketing Financial 1
The ____ deals with obtaining the raw materials, parts and suppliers needed to Promotion Product Purchasing
Pricing policy
E13 perform the operations functions. strategy differentiation Strategy 4
The ____ is the policy by which a company determines the wholesale and retail Purchasing Promotion Product
Pricing policy
E14 prices for its products or services Strategy strategy differentiation 4
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A
A function concerned with appointing the right staff, at the right time and right
place for a right job by giving him right training and right compensation and right
HR Marketing Financial Operational
working conditions so as to attract and retain the talent is called as Strategic ____
E15 Management 1
The process of allocating resources to support the chosen strategies is called as Strategy Strategy Strategy
Strategic Intent
___ Evaluation Formulation Implementation
F1 3
Optimum
Availability of Scarcity of abundance of
There are several difficulties in resource allocation such as demand from
resources resources resources
F2 departments 3
Strategy Strategy Strategy
The _____is an Intellectual process Strategic Intent
Formulation Evaluation Implementation
F3 1
F4 Which of the following is not a part of MCKINSEY’S Framework? Structure Systems Society Staff 3
Strategy
Strategy Strategy
The _____ is an Operational process. Implementatio Strategic Intent
Formulation Evaluation
F5 n 2
F6 MCKINSEY’S Framework has 7S 7D 7M 5S 1
F7 Resources of an organisation include _____ resources human financial physical all of these 4
Environmental Strategy Strategy Strategy
Which is the last step in Strategic Management?
Scanning Evaluation Implementation Formulation
F8 2
Portfolio product life-cycle
Companies allocate resources by percentages all of these
F9 models charts 4
Environmental Strategy Strategy
Which is the first step in Strategic Management? Strategic Intent
Scanning Formulation Implementation
F10 4

Results of measurements over a period of time with statistically determined Economic Order
Control charts ABC analysis Reorder Point
upper and lower limits are shown by ____ Quantity (EOQ)
G1 2
Comparing the actual performance with the expected performance or the pre Strategic Strategic
Strategic control Monitoring
G2 decided standard performance is called as ___ feedback evaluation 3
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A

The point at which if stock of the material in store approaches, the store keeper Economic Order Break Even
Reorder Point ABC analysis
should initiate the purchase requisition is called as ___ Quantity (EOQ) Point
G3 2
According to Pears and Robinson which of the following is not a part of strategic Implementatio Strategic Concurrent
Premise Control
G4 control? n Control surveillance Audit 4
Implementation control is a system of ongoing control of ____ performance actual projected standard expected
G5 1
Strategy
The _____ is concerned with controlling and guiding efforts on behalf of the Strategy Strategy
Implementatio Strategic control
strategy as action is taking place Evaluation Formulation
G6 n 4

Economic Order
Which of the following is not a part of Operations control tools? Control charts Histogram Reorder Point
Quantity (EOQ)
G7 3

Economic Order
The size of the order where the total cost is lowest is called as ___ Reorder Level ABC analysis Reorder Point
Quantity (EOQ)
G8 1
pre decided
expected
A strategy can be evaluated by comparing the actual performance with the or the standard A or B None of these
performance
G9 performance 3
The ____ is designed to check systematically and continuously whether the Special Alert Implementatio Strategic
Premise Control 3
G10 assumptions are valid or not Control n Control surveillance
Resources include physical, financial and human resources essential for
1 2 3 4 1
H1 implementing plans
A ______ Top Management team may infuse desired changes for spearheading
H2 successful strategic change Heterogeneous Homogenous Aggressive Motivated 2
H3 Which one of the following is not a part of the Critical 7S model Strategy Style Settings Staff 3
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A
Strategy is
developed by Strategy is
Top Strategy is customer centric
The difference between strategy formulation and strategy implementation is that: Management created by a and
Team and few but implementation
implemented by implemented is operations All of the
H4 Managers by all centric Mentioned 4
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A

The Framework
has no
theoretical
underpinnings at
all. It is simply
an ad hoc
collection of
interesting
characteristics of The 7-S There are many
The McKinsey 7-S Framework was employed by Peters and Waterman to help organisations Framework has The Framework competing
them understand what made their 43 excellent companies worthy of the culled from stood the test is only applicable
explanations of
accolade. The huge sales of their book "In Search of Excellence" have resulted in McKinsey of time. The to large North why some
the Framework being widely known and instantly recognisable. Which statement partners and a process was American companies
below is true? bunch of smart fundamentally multinationals succeed and
people. The sound, based that formed theothers don't
proof of its on common basis of the that have been
arbitrariness is sense, instinct study, and in any
advanced by
the exclusion of and the views case is now academics and
GE from the line- of obsolete since so
consulting
up and the fall unconventional much has companies.
from grace of people. The changed in the Peters and
one third of the eight themes world of Waterman have
'excellent' are as relevant business since done a better
companies today as they publication in job at marketing
H5 within five years. were in 1982. 1982. their ideas. 2
Set of
Under 7S framework Systems imply which of the following Recruitment Innovative work standardized
H6 Policy IT up gradation ethics procedures 2
Production and All of the
Strategic management deals with
H7 quality Profit and loss Business process Mentioned 3
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A
The ''soft'' elements of the 7-S framework include all of the following EXCEPT
H8 which? Style Shared Values Skills Systems 2
The critical 7S model was developed and created by reputed consulting firm:
H9 Mckinsey Bain & Co A T Kearney Accenture 1
Organization
structure,
A significant change in strategy calls for a complete overhaul of the systems,
Organization processes, Business None of the
H10 resources resources activities Mentioned 2
Developing a vision and mission, identifying an organization’s external strategy-
opportunities and threats, and determining internal strengths and weaknesses strategy- implementatio long-range short-range
H11 are all __________ activities. formulation n planning planning 1
Whether a
The way the business is How the Why customers
What is meant by the element of ''style'' in the 7-S framework?
business is online or company's should shop
H12 decorated. offline. managers lead. with them 3

strategy strategy strategy stratify

formulation, formulation, formulation, assessment,
The three stages of strategic management are strategy strategy strategy strategy
implementation, execution, and implementation, execution, and
and strategy strategy and strategy strategy
H13 execution assessment evaluation evaluation 3
Conducting research to determine internal strengths and weaknesses is Implementatio
H14 performed during which stage ofstrategic management? Formulation n Evaluation Feedback 1
The McKinsey 7-S Framework highlights the _____ of the seven hard and soft interconnected interchangeabili
H15 elements. intermittence ness independence ty 2
Communicatio Resource
A major part of strategy implementation is
I1 Planning n Allocation Monitoring 3
It provides a way to bring in the people dimension in macro company analysis All of the
I2 without using psychological models of human behaviour. Environment Society Culture Mentioned 3
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A

Factor(s) determining HRP (Human Resource Planning) Type & Strategy Environmental Type & quality of All of the
I3 of organisation uncertainties information Mentioned 4
Style of a company are the patterns of actions taken by members of _____ Any of the
I4 management over a period of time Top Middle Lower Mentioned 1
The benefits of a change in process are defined in terms of _______ cost savings
I5 Labour Infrastructure Production Raw Material 1
Customer, Cost, Customer,
Three C’s affecting today’s companies are Competition, Competition, Competition, Customer, Cost,
I6 Change Change Cost Change 1
________ should have the ability to develop a vision to see patterns into the
I7 future. Leaders Managers Management Workers 1
These people are charged with the responsibility of continuous screening of Top Audit
I8 performance? Managers Supervisors Management Committee 4

engagement,
Change in culture, attitude, and mindset calls for: involvement and Rigorous
motivation of performance Performance Organization
I9 employees appraisal benchmarking design change 4
None of the
________ and greater accountability replace formal control.
I10 Self-discipline Self appraisal Both A and B Mentioned 1
Companies employ trained ________ to develop “competency models” to identify All of the
I11 potential leaders. Consultants Psychologists Trainers Mentioned 2
Short range Long range None of the
Strategic management is concerned with
I12 planning planning Both A and B Mentioned 2

Drastic change
in
Change management is essential for strategy execution following the:
environmental need for reduction in
and competitive resource barriers to business
I13 conditions allocation change imperatives 2
Change in company’s __________ gives rise to problems necessitating a new structure, strategy, structure, strategy,
I14 _________ to be made strategy structure structure strategy 2
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A
It is used extensively in organisation and is concerned with action or Operational Production All of the
I15 performance. control control Quality control Mentioned 1

Sequence of
While scheduling a project by C.P.M. required time various activities
a project is for each is made
divided into activity is according to All of the
J1 various activities established their importance Mentioned 4
The artificial activity which indicates that an activity following it, cannot be
J2 started unless the preceding activity is complete, is known as Event Dummy Free Float Constant 2
1.Pouring of 1.Erection of 1.Removal of 1.Pouring of
Concrete form work form work concrete
2.Erection of 2.Pouring of 2.Erection of 2.Curing of
Pick up the correct network for the activities of pouring concrete, erection of form work concrete form work concrete
form work, removal of form work and curing of concrete from the following : 3.Curing of 3.Curing of 3.Pouring of 3.Erection of
concrete concrete concrete, form work
4.Removal of 4.Removal of 4.Curing of 4.Removal of
J3 form work form work concrete form work. 2
pessimistic All of the
PERT analysis is based on
J4 optimistic time time most likely time Mentioned 4
All of the
Completion of an activity on CPM network diagram, is generally known
J5 Event Node Connector Mentioned 4
The difference between the time available to do a job and the time required to do
J6 the job, is known as Event Float Duration Constraint 6

Alternative start-
Due to increased consumption in the United States, water from the Colorado
up financing Major shifts in
River has not reached its natural terminus at the Sea of Cortez since 1998. The
Political and Unbalanced options like the availability
global change risk associated with this type of occurrence is:
regulatory pollution crowdsourcing natural
J7 changes. controls. or micro-loans. resources. 4
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A
Programme
Programme Evaluation and
Evaluation and Review
Pick up the correct statement from the following :
Review Technique is Critical Path Critical Path
Technique, is not event Method is event method is event
J8 event oriented oriented oriented oriented. 1
None of the
The critical activity has
J9 maximum float minimum float zero float Mentioned 3
J10 The estimated time required to perform an activity, is known as Event Dummy Duration Float 3

A dummy activity
is artificially is represented does not All of the
J11 introduced by a dotted line consume time Mentioned 4
An activity of a
project is The tail of the The head of the
Pick up the incorrect statement from the following : denoted by an arrow indicates The arrows are arrow indicates
arrow on the net the start of the drawn to scale the end of the
J12 work activity from left to right activity 3

is an provides a avoids delays

Critical path method improvement realistic which are very
upon bar chart approach to common in bar All of the
J13 method daily problems charts Mentioned 4
For completion of a project, the critical path of the network represents
J14 minimum time maximum time maximum cost minimum cost 1
J15 The performance of a specific task in CPM, is known Dummy Event Activity Contract 3