MNG3701 ASSIGNMENT 2 STUDY
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MNG3701: Strategic Management - 100 Q&A Study Guide
Section 1: The Strategic Management Process & Intent
1. What is the primary purpose of strategic management?
A) To manage daily operational tasks
B) To create competitive advantage and achieve organizational goals
C) To solely maximize short-term profits
D) To handle human resource issues
2. Which of the following best describes 'strategic intent'?
A) A detailed budget for the next quarter
B) An obsession with winning at all levels of the organization
C) A list of operational policies
D) The company's five-year financial forecast
3. The three primary stages of the strategic management process are:
A) Planning, Organizing, Leading
B) Analysis, Formulation, Implementation
C) Mission, Vision, Objectives
D) Input, Process, Output
4. A company's vision statement typically describes:
A) Its current business and purpose
B) Its desired future state; what it aspires to become
,C) Its specific financial targets for the year
D) The ethical code of conduct for employees
5. A mission statement is best defined as:
A) A statement of financial ambition
B) A declaration of the organization's core purpose and reason for existence
C) A description of the company's products
D) A list of the board of directors
6. Which of these is an example of a strategic objective?
A) Increase production line speed by 5% this month.
B) Achieve a 15% market share in the Asian market within three years.
C) Order new office supplies by Friday.
D) Respond to all customer emails within 2 hours.
7. The concept of 'stakeholders' refers to:
A) Only the shareholders of the company
B) Individuals or groups who can affect or are affected by the firm's objectives and
actions
C) Only the employees and managers
D) Government regulators only
8. Corporate governance is primarily concerned with:
A) Marketing products effectively
B) The system of rules and processes by which a company is directed and
controlled
C) Managing the supply chain
D) Employee training and development
9. Which level of strategy is concerned with the question, "In which industries
and markets should we compete?"
A) Functional Strategy
B) Operational Strategy
C) Business-Level Strategy
D) Corporate-Level Strategy
, 10. Business-Level Strategy focuses on:
A) How to compete successfully in a particular market
B) The coordination of operational units
C) The financial structure of the entire corporation
D) International trade laws
Section 2: External & Internal Environment Analysis
11. PESTEL analysis is a framework for analyzing the:
A) Internal strengths of a company
B) Macro-environmental factors
C) Five forces in an industry
D) Financial ratios of a firm
12. Which of the following is NOT a component of Porter's Five Forces
model?
A) Threat of new entrants
B) Bargaining power of suppliers
C) Rivalry among existing competitors
D) Technological innovation
13. High bargaining power of buyers typically leads to:
A) Higher prices and higher profits for the industry
B) Lower prices and increased competition
C) Reduced competition
D) Increased supplier power
14. An industry with high barriers to entry, few substitutes, and weak buyer
power is considered:
A) Highly competitive and unattractive
B) An oligopoly
C) Attractive and potentially profitable
D) A perfect competition market
15. The 'threat of substitute products or services' refers to:
A) New companies entering the market
GUIDE 2026 COMPLETE ANSWERS
AND SOLUTIONS || 100%
GUARANTEED PASS <RECENT
VERSION>
MNG3701: Strategic Management - 100 Q&A Study Guide
Section 1: The Strategic Management Process & Intent
1. What is the primary purpose of strategic management?
A) To manage daily operational tasks
B) To create competitive advantage and achieve organizational goals
C) To solely maximize short-term profits
D) To handle human resource issues
2. Which of the following best describes 'strategic intent'?
A) A detailed budget for the next quarter
B) An obsession with winning at all levels of the organization
C) A list of operational policies
D) The company's five-year financial forecast
3. The three primary stages of the strategic management process are:
A) Planning, Organizing, Leading
B) Analysis, Formulation, Implementation
C) Mission, Vision, Objectives
D) Input, Process, Output
4. A company's vision statement typically describes:
A) Its current business and purpose
B) Its desired future state; what it aspires to become
,C) Its specific financial targets for the year
D) The ethical code of conduct for employees
5. A mission statement is best defined as:
A) A statement of financial ambition
B) A declaration of the organization's core purpose and reason for existence
C) A description of the company's products
D) A list of the board of directors
6. Which of these is an example of a strategic objective?
A) Increase production line speed by 5% this month.
B) Achieve a 15% market share in the Asian market within three years.
C) Order new office supplies by Friday.
D) Respond to all customer emails within 2 hours.
7. The concept of 'stakeholders' refers to:
A) Only the shareholders of the company
B) Individuals or groups who can affect or are affected by the firm's objectives and
actions
C) Only the employees and managers
D) Government regulators only
8. Corporate governance is primarily concerned with:
A) Marketing products effectively
B) The system of rules and processes by which a company is directed and
controlled
C) Managing the supply chain
D) Employee training and development
9. Which level of strategy is concerned with the question, "In which industries
and markets should we compete?"
A) Functional Strategy
B) Operational Strategy
C) Business-Level Strategy
D) Corporate-Level Strategy
, 10. Business-Level Strategy focuses on:
A) How to compete successfully in a particular market
B) The coordination of operational units
C) The financial structure of the entire corporation
D) International trade laws
Section 2: External & Internal Environment Analysis
11. PESTEL analysis is a framework for analyzing the:
A) Internal strengths of a company
B) Macro-environmental factors
C) Five forces in an industry
D) Financial ratios of a firm
12. Which of the following is NOT a component of Porter's Five Forces
model?
A) Threat of new entrants
B) Bargaining power of suppliers
C) Rivalry among existing competitors
D) Technological innovation
13. High bargaining power of buyers typically leads to:
A) Higher prices and higher profits for the industry
B) Lower prices and increased competition
C) Reduced competition
D) Increased supplier power
14. An industry with high barriers to entry, few substitutes, and weak buyer
power is considered:
A) Highly competitive and unattractive
B) An oligopoly
C) Attractive and potentially profitable
D) A perfect competition market
15. The 'threat of substitute products or services' refers to:
A) New companies entering the market
