Executive MBA Strategic Management — practice questions
88 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice Executive MBA Strategic Management in the app →Planning is best described as deciding in advance:Planning seeks to bridge the gap between where we are and:A firm sets goals so employees know what to do and work in one direction. This benefit is that planning:By anticipating change and preparing responses, planning:Planning gives the goals against which actual performance is measured, so it is a prerequisite for:Because all other managerial functions are performed within the framework of plans, planning is called the:Top management plans for the whole firm while supervisors plan day to day. This shows planning is:Planning looks ahead and is based on forecasting, which makes it:If only one course of action existed, there would be no need to plan because planning involves:Planning requires foresight, imagination and sound judgement, so it is called a:A well-defined plan that managers cannot change when conditions shift shows that planning leads to:Because top management makes the plans and others merely implement them, planning may:Boardroom meetings, expert consultations and preliminary investigations mean planning:A plan that worked before may not work again, which shows planning:The first step in the planning process is:The assumptions about the future on which plans are built are called:A plan developed for a one-time event or project, not likely to be repeated, is a:Policies, procedures, methods and rules are examples of:A comprehensive plan that sets long-term objectives, adopts a course of action and allocates resources is a:A general statement that guides thinking, such as a recruitment or pricing policy, is a:Specific statements that allow no flexibility or discretion, such as reporting for work on time, are:A statement of expected results expressed in numerical terms is a:A set of moral standards for judging whether something is right or wrong is:A situation where a person must choose from actions that may be right or wrong is an:An official whose personal interest could shape a decision they must make faces a:What is considered fair by the prevailing standards of society is called:Rights to life, freedom and the pursuit of happiness, granted at birth, are called:Rights guaranteed by a government and its laws are:The philosophy judging an action by its consequences, seeking the greatest good for the greatest number, is:A criticism of that philosophy is that it always involves:The philosophy that a person should follow their duty because upholding it is correct is:A firm's written guidelines telling employees what is expected of their behaviour form a:Individuals or groups to whom a business has a responsibility are its:Concern of businesses for the welfare of society as a whole, beyond what law requires, is:Charitable giving by a company, including cash and donated products, is:Tying that giving closely to the firm's own mission and its own communities is:Limiting investments to companies that behave in line with the investor's beliefs is:Which group counts as a stakeholder of a business?Ethics training programmes at firms may today include:A share of large United States companies providing some kind of ethics training is more than:A company that makes sustainability part of its own business culture is acting on:Denying the rights of an individual or group is considered:Under a duty-based philosophy, keeping a promise matters because:Under a consequence-based philosophy, an action affecting the majority badly would be judged:The tool whose name stands for strengths, weaknesses, opportunities and threats is:A SWOT analysis is only as good as:The tool reminding managers to scan distinct categories of the macro environment is:The Harvard professor who developed the five forces tool is:The force placed at the centre of that five forces diagram is:Firms already competing in an industry are described as:A growing or very profitable industry is likely to attract:Factors that stop new firms from competing successfully in an industry are:Which of these can act as such a barrier?Any other product that satisfies the same customer need as the industry's offering is a:When using the five forces model, an analyst decides whether each force has an impact that is:Equipment, facilities, raw materials and employees a firm has to work with are its:The set of activities through which a firm turns inputs into something customers value is its:The tool used to assess whether a resource can give lasting advantage is:Under that tool, a resource gives competitive advantage when the answer to every question is:A firm offering a wide variety of products at prices below rivals is following:The strategy that is the exact opposite of that low-price approach is:Trying to combine those two strategies at once, Porter suggests, can leave a firm:A firm adding value that only a few customers will pay highly for is following a:The innermost circle of a firm's environment, holding its own members and investors, is the:Compared with the macro environment tool, the five forces tool examines the firm's:A car maker losing sales because young city dwellers stop buying cars faces a change in its:The field that specialises in managing change, drawing on social science, is:The framework built on efficiency through structure, developed by Max Weber, is the:Organising people into subunits according to their expertise is called:The way people report to one another to coordinate their efforts is called:The breadth of the systems that must change within an organisation is called the:Change that is intentionally designed and purposefully implemented is:Change that is unintentional and usually comes from informal organising is:The psychologist who proposed one of the first models of change was:In that model, the first phase disrupts existing norms and routines. It is called:The final phase of that model, reinforcing the new norms, is called:That model assumes many people prefer an organisation that is:The widely used eight-step change model that fits mechanistic structures came from:The first step of that eight-step model is to establish a sense of:The second step is to form a powerful guiding:In the third phase, the manager and that group together create a:The fifth step, removing obstacles, is intended to reduce:The sixth step, creating small wins, works because it helps people see:The seventh step, consolidating improvements, rests on the idea that small changes:The last step of that model is to:The bottom-up, positive, abundance-based approach to change is called:The scholar who developed that positive approach at Case Western Reserve University was:In that approach, the primary mechanism for helping people create new narratives is: