1. The process of thinking creatively and finding new solutions to
problems is known as:
A. Analytical thinking
B. Strategic planning
C. Innovative thinking
D. Operational thinking
Answer: C
Rationale: Innovative thinking focuses on generating new ideas
and solutions that are creative and different from conventional
approaches.
2. Which of the following is true about "strategic alliances"?
A. They always involve direct mergers between companies
B. They involve organizations working together for mutual
benefits
C. They are formed solely for financial gain
D. They are temporary and do not require long-term commitment
Answer: B
Rationale: Strategic alliances are collaborative arrangements
where organizations work together, sharing resources or expertise
to achieve common goals or mutual benefits.
,3. Which of the following is an example of a strategic objective?
A. Increase market share by 10% over the next 12 months
B. Reduce employee training costs by 5%
C. Improve customer service satisfaction scores
D. Hire 10 new employees by next quarter
Answer: A
Rationale: A strategic objective is a specific, measurable goal that
supports the overall strategy, such as increasing market share
within a given time frame.
4. What is the first step in the strategic planning process?
A. Formulating strategies
B. Implementing strategies
C. Conducting a situation analysis
D. Setting performance targets
Answer: C
Rationale: The first step in strategic planning is to conduct a
situation analysis to understand the current internal and external
environment of the organization.
5. Which of the following best describes the term "business model
innovation"?
, A. Altering existing products to improve customer satisfaction
B. Changing the way a company creates, delivers, and captures
value
C. Reducing the number of competitors in the market
D. Focusing on improving operational efficiencies
Answer: B
Rationale: Business model innovation involves changing how a
company creates, delivers, and captures value, often leading to a
fundamental shift in its market position and strategy.
6. The concept of "blue ocean strategy" refers to:
A. Competing in a crowded market
B. Creating a new, uncontested market space
C. Focusing on cost-cutting measures
D. Following established industry norms
Answer: B
Rationale: A blue ocean strategy emphasizes creating new market
spaces, avoiding competition, and offering unique products or
services that meet unmet needs.
7. The "BCG Matrix" is used to:
A. Identify key performance indicators
B. Assess product portfolio and strategic positioning
problems is known as:
A. Analytical thinking
B. Strategic planning
C. Innovative thinking
D. Operational thinking
Answer: C
Rationale: Innovative thinking focuses on generating new ideas
and solutions that are creative and different from conventional
approaches.
2. Which of the following is true about "strategic alliances"?
A. They always involve direct mergers between companies
B. They involve organizations working together for mutual
benefits
C. They are formed solely for financial gain
D. They are temporary and do not require long-term commitment
Answer: B
Rationale: Strategic alliances are collaborative arrangements
where organizations work together, sharing resources or expertise
to achieve common goals or mutual benefits.
,3. Which of the following is an example of a strategic objective?
A. Increase market share by 10% over the next 12 months
B. Reduce employee training costs by 5%
C. Improve customer service satisfaction scores
D. Hire 10 new employees by next quarter
Answer: A
Rationale: A strategic objective is a specific, measurable goal that
supports the overall strategy, such as increasing market share
within a given time frame.
4. What is the first step in the strategic planning process?
A. Formulating strategies
B. Implementing strategies
C. Conducting a situation analysis
D. Setting performance targets
Answer: C
Rationale: The first step in strategic planning is to conduct a
situation analysis to understand the current internal and external
environment of the organization.
5. Which of the following best describes the term "business model
innovation"?
, A. Altering existing products to improve customer satisfaction
B. Changing the way a company creates, delivers, and captures
value
C. Reducing the number of competitors in the market
D. Focusing on improving operational efficiencies
Answer: B
Rationale: Business model innovation involves changing how a
company creates, delivers, and captures value, often leading to a
fundamental shift in its market position and strategy.
6. The concept of "blue ocean strategy" refers to:
A. Competing in a crowded market
B. Creating a new, uncontested market space
C. Focusing on cost-cutting measures
D. Following established industry norms
Answer: B
Rationale: A blue ocean strategy emphasizes creating new market
spaces, avoiding competition, and offering unique products or
services that meet unmet needs.
7. The "BCG Matrix" is used to:
A. Identify key performance indicators
B. Assess product portfolio and strategic positioning
