MGT603 Midterm Solved Papers Mega File

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PAPER 01

Q1. Long-term objectives include all of the following EXCEPT: (1 marks)

1. Measurable
2. Reasonable
3. Varying
4. Consistent

Correct answer: Varying

Pg#9

Objectives should be challenging, measurable, consistent, reasonable, and clear. In a multidimensional firm, objectives should be established for the overall company and for each division.

Q2. Which of the following is NOT included in the strategic management model? (1 marks)

1. Measure and evaluate performance
2. Establish long-term objectives
3. Develop mission and vision statements
4. Perform internal research to identify customers P#49

Correct answer: Perform internal research to identify customers P#49

Q3. Which component of a mission statement addresses the basic beliefs, values, aspirations, and ethical priorities of the firm? (1 marks)

1. Technology
2. Philosophy
3. Customers
4. Self-concept

Correct answer: Philosophy

Pg#17

Philosophy: What are the basic beliefs, values, aspirations, and ethical priorities of the firm?

Q4. “Identifying (1 marks)

and

evaluating

social, political, economic,

technological

and competitive trends and events”; which of the followings best describes this statement?

1. developing an effective mission statement
2. conducting an internal audit
3. performing an external audit
4. Formulating strategy

Correct answer: performing an external audit

Pg#29

To perform an external audit, a company first must gather competitive intelligence and information about social, cultural, demographic, environmental, economic, political, legal, governmental, and technological trends. Individuals can be asked to monitor various sources of information such as key magazines, trade journals, and newspapers

Q5. 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. Opportunities and threats
4. Strengths and weaknesses

Correct answer: Opportunities and threats

Pg#29

The purpose of an external audit is to develop a finite list of opportunities that could benefit a firm and threats that should be avoided.

Q6. Rehman industries, a leading firm of the industry is analyzing the technological forces for the firm which may provide it opportunities and threats for which stage/s of strategic management process? (1 marks)

1. Strategy formulation
2. Strategy implementation
3. Strategy evaluation
4. All of the given options

Correct answer: Strategy formulation

Technological forces represent major opportunities and threats that must be considered in formulating strategies.

Q7. Use of the Internet and Internet technologies can be integrated into the sales of on- line as well as off-line business and marketing portion of the value chain through which of the following? (1 marks)

1. Through software that permits customers to specify build-to-order options
2. Through online product catalogs containing rich product information and specifications
3. Via online price quotes and online announcements of special sales and promotions
4. All of the given options

Correct answer: All of the given options

Q8. Which of the following best describes this statement; “A systematic and ethical process for gathering and analyzing information about the competition’s activities and general business trends to further a business’ own goals”? (1 marks)

1. External assessment
2. Industry analysis
3. Competitive intelligence program
4. Business ethics

Correct answer: Competitive intelligence program

Pg#42

Competitive Intelligence Programs

Systematic and ethical process for gathering and analyzing information about the competition’s activities and general business trends to further a business’ own goals.

Q9. 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
3. To identify industry executives who could be hired by the firm
4. To identify potential moves a competitor might make that would endanger a firm

Correct answer: To identify industry executives who could be hired by the firm

P#43

Competitive Intelligence Programs and competitive analysis:

Systematic and ethical process for gathering and analyzing information about the competition’s activities and general business trends to further a business’ own goals.

Q10. Which of the following statements is correct in relation to the Five Forces framework? (1 marks)

1. The framework is a means of identifying the forces which affect the level of competition in an industry
2. The framework identifies the major stakeholders of an organization
3. The framework assists in developing a broad perspective on the environment within which an organization operates
4. It is not appropriate in public sector management and for small organizations

Correct answer: The framework is a means of identifying the forces which affect the level of competition in an industry

Pg#143

Five forces -- the bargaining power of customers, the bargaining power of suppliers, the threat of new entrants, and the threat of substitute products -- combine with other variables to influence a fifth force, the level of competition in an industry. Each of these forces has several determinants: