MGT603 QUIZ # 2

Question # 1 of 10 ( ) Total Marks: 1
Which statement is CORRECT about strategic-management process?
Select correct option:

It occurs once a year
It is a continuous process
It applies mostly to large business
It applies mostly to small businesses


Question # 2 of 10 () Total Marks: 1
“A desired future state that the organization attempts to realize”. Identify the term relevant to the given statement.
Select correct option:

Goal
Strategy
Policy
Procedure


Question # 3 of 10 ( ) Total Marks: 1
Selling includes all of the following marketing activities EXCEPT:
Select correct option:

Advertising
Pricing
Sales promotion
Customer relations


Question # 4 of 10 ( ) Total Marks: 1
Which of the following is not a pitfall an organization should avoid in strategic planning?
Select correct option:

Failing to involve key employees in all phases of planning
Involving all managers rather than delegating planning to a planner
Top managers not actively supporting the strategic planning process
Doing strategic planning only to satisfy accreditation or regulatory requirements


Question # 5 of 10 () Total Marks: 1
Which management function includes breaking tasks into jobs, combining jobs to form departments and delegating authority?
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Motivating
Staffing
Organizing
Planning


Question # 6 of 10 ( ) Total Marks: 1
Which category of ratios measures “how effectively a firm can maintain its economic position in the growth of the economy and industry”?
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Liquidity
Leverage
Activity
Growth


Question # 7 of 10 ( ) Total Marks: 1
Corporate social policy should be designed and articulated during which phase of strategic management?
Select correct option:

Implementation
Formulation
Evaluation
Management


Question # 8 of 10 ( ) Total Marks: 1
Following are the examples of the sectors that are more technologically oriented EXCEPT:
Select correct option:

Textile (NOT SURE)
Pharmaceutical
Telecommunications
Beverages


Question # 9 of 10 ( ) Total Marks: 1
For the past four years the ABC Corporation has been planning to expand its operations in order to reach out to the world market. Essentially, the ABC Corporation desires to do what?
Select correct option:

Become an online business
Become a brick-n-mortar business
Embrace globalization
Become a click-n-mortar business


Question # 10 of 10 ( ) Total Marks: 1
Which of the following is the first step in the controlling function of management?
Select correct option:

Take corrective actions
Restrict breaks employees take
Evaluate expense reports
Establish performance standards