MGT603 Midterm Past Papers 2

Paper Quiz MGT 603

Q1. Various job titles of a strategist may include all of the following EXCEPT: (1 marks)

1. Owner

Foreman

1. Chancellor
2. Chief executive officer

Q2. According to ‘Peter Drucker’, what is the prime task of strategic management? (1 marks)

1. To develop the vision of the business
2. Effectively evaluate the strategies
3. Develop alternative set of strategies

Q3. The purpose of an external audit is to prepare a list of which of the following? (1 marks)

1. Opportunities and weaknesses
2. Threats and strengths
3. Strengths and weaknesses

Q4. (1 marks)

1. Demographics
2. Competitive trends
3. Technological changes

Q5. In Porter's Five Forces, the 'threat of new entrants' relates to which factor? (1 marks)

1. Barriers to entry

Substitutes

1. Switching cost
2. Buyer power

Q6. Which one of the following best describes “a substitute product or service”? (1 marks)

1. A competitor's product or service

An alternative way of meeting the same need

1. A new entrant into the industry
2. A less attractive way of meeting the same need

Q7. Which of the following can be considered as a factor of internal strengths and weaknesses of an organization? (1 marks)

1. Technological changes

Production/operations

1. Demographics
2. Competitive trends

Q8. Long-term objectives includes all of the following EXCEPT: (1 marks)

1. Measurable
2. Reasonable
3. Varying

Consistent

Q9. Which component of a mission statement addresses the basic beliefs, values, aspirations, and ethical priorities of the firm? (1 marks)

1. Technology

Philosophy

1. Customers
2. Self-concept

Q10. Which one of the following is NOT is a basic mission of a competitive intelligence program? (1 marks)

1. To provide a general understanding of an industry
2. To provide a general understanding of a company’s competitors

To identify industry executives who could be hired by the firm

1. To identify potential moves a competitor might make that would endanger a firm

Q11. While preparing an External Factor Evaluation Matrix, a total score of 0.8 indicates that: (1 marks)

1. Firm is taking advantages of strengths and avoiding threats

Firm is taking no advantage of opportunities and is avoiding threats

1. Firm is not taking advantages of opportunities and is not avoiding threats
2. Firm is taking advantage of opportunities and is avoiding the threats

Q12. Internal analysis involves gathering and analyzing information about all areas of a firm EXPECT: (1 marks)

1. Research and development
2. Management information system
3. Marketing

Competitors

Q13. Which of the following are signs of weakness in a company's competitive position? (1 marks)

1. A return-on-equity is below 25% and earnings per share is less than Rs. 2.00
2. A price set by the firm higher than the market leader

A declining market share, poor product quality and few sales in market

1. Lower revenues and profit margin and narrow product line than the market leader

Q14. Which of the following functions requires recruitment and selection of qualified personnel needed for the organization so that its objectives and goals are achieved? (1 marks)

1. Planning
2. Organizing

Staffing

1. Leading

Q15. Which of the following are signs of strength in a company's competitive position? (1 marks)

1. A debt-to-asset ratio below 0.50 and a positive net cash flow
2. A website with extensive information about the company and its product line
3. R&D and advertising expenditures greater than $10 million annually

A strongly differentiated product and a strong or rising market share

Q16. Which of the following is the process of using the resources and personnel of an organization in an orderly way to achieve the objectives and long-term goals of the organization? (1 marks)

1. Planning

Staffing

1. Leading
2. Organizing

Q17. The position a company takes with regard to pricing, promotion, advertising, product design, and distribution is known as: (1 marks)

Marketing strategy

1. Strategic position
2. Marketing and materials management
3. Supply chain strategy

Q18. Waseem & Sons primarily want to gain control over the prices charged to consumers. What strategy will most likely be followed by Waseem & Sons? (1 marks)

1. Market penetration
2. Product development