MNG3702 EXAM PACK 2026 COMPLETE
STUDY GUIDE WITH CORRECT ANSWERS ||
100% GUARANTEED PASS <RECENT
VERSION>
Section 1: Introduction to Strategic Management & The Strategic
Management Process
1. What is the primary purpose of strategic management?
A) To manage daily operational tasks
B) To achieve competitive advantage and fulfil organisational goals
C) To create detailed financial budgets
D) To handle human resource functions
2. The strategic management process typically begins with:
A) Implementing the strategy
B) Developing functional strategies
C) Establishing the mission, vision, and values
D) Conducting a SWOT analysis
3. Which of the following best describes a company's vision statement?
A) A statement of the company's current purpose and scope
B) A description of the company's target market
C) A statement of what the company aspires to become in the future
D) A detailed plan for the next fiscal year
4. A company's mission statement primarily addresses the question:
A) "How will we measure success?"
B) "What business are we in and what are our core objectives?"
C) "What do we want to become in 10 years?"
D) "Who are our main competitors?"
5. Which level of strategy is concerned with how a company should compete in
a particular industry or market?
A) Corporate strategy
,B) Business-level strategy
C) Functional strategy
D) Operational strategy
6. The three primary stages of the strategic management process are:
A) Planning, Organizing, Leading
B) Analysis, Formulation, Implementation
C) Input, Process, Output
D) Mission, Vision, Values
7. Corporate-level strategy is primarily concerned with:
A) The question "How do we compete in this specific business?"
B) The question "In what industries and markets should we compete?"
C) The coordination of activities within the marketing department
D) The day-to-day decisions made by frontline managers
8. Strategic objectives should be:
A) Vague and open to interpretation
B) Measurable and time-bound
C) Solely focused on financial performance
D) Independent of the company's mission
9. The concept of "sustainable competitive advantage" refers to:
A) A benefit that can be easily copied by competitors
B) A long-term advantage that is difficult for competitors to imitate
C) An advantage that only lasts for one financial quarter
D) A company's commitment to environmental policies
10. Functional-level strategies are designed to:
A) Determine the company's overall scope and direction
B) Support the business-level and corporate-level strategies
C) Outline the company's global expansion plans
D) Define the company's ethical code of conduct
Section 2: External Environmental Analysis (PESTEL, Industry Analysis)
, 11. A PESTEL analysis is a framework used to analyse the:
A) Internal strengths and weaknesses of an organisation
B) Macro-environmental factors affecting an organisation
C) Five forces within an industry
D) Financial ratios of a company
12. Which of the following is a component of a PESTEL analysis?
A) Supplier Power
B) Threat of Substitutes
C) Economic factors
D) Organisational Culture
13. In Porter's Five Forces model, the threat of new entrants is high when:
A) Capital requirements for entry are low
B) Customers have strong brand loyalty
C) The industry is dominated by a few large firms
D) Government regulations are stringent
14. The bargaining power of buyers is likely to be HIGH when:
A) There are few buyers and many sellers
B) The product is highly differentiated
C) Switching costs for the buyer are high
D) The buyer's purchases represent a small fraction of the seller's sales
15. In the Five Forces model, the "threat of substitute products" refers to:
A) New companies entering the market
B) The intensity of competition among existing firms
C) Products or services from other industries that can fulfil the same need
D) The power of suppliers to increase prices
16. The intensity of rivalry among existing competitors is likely to be high
when:
A) The industry is growing rapidly
B) There are high exit barriers and numerous equally balanced competitors
C) Products are highly differentiated
D) The industry has low fixed costs
STUDY GUIDE WITH CORRECT ANSWERS ||
100% GUARANTEED PASS <RECENT
VERSION>
Section 1: Introduction to Strategic Management & The Strategic
Management Process
1. What is the primary purpose of strategic management?
A) To manage daily operational tasks
B) To achieve competitive advantage and fulfil organisational goals
C) To create detailed financial budgets
D) To handle human resource functions
2. The strategic management process typically begins with:
A) Implementing the strategy
B) Developing functional strategies
C) Establishing the mission, vision, and values
D) Conducting a SWOT analysis
3. Which of the following best describes a company's vision statement?
A) A statement of the company's current purpose and scope
B) A description of the company's target market
C) A statement of what the company aspires to become in the future
D) A detailed plan for the next fiscal year
4. A company's mission statement primarily addresses the question:
A) "How will we measure success?"
B) "What business are we in and what are our core objectives?"
C) "What do we want to become in 10 years?"
D) "Who are our main competitors?"
5. Which level of strategy is concerned with how a company should compete in
a particular industry or market?
A) Corporate strategy
,B) Business-level strategy
C) Functional strategy
D) Operational strategy
6. The three primary stages of the strategic management process are:
A) Planning, Organizing, Leading
B) Analysis, Formulation, Implementation
C) Input, Process, Output
D) Mission, Vision, Values
7. Corporate-level strategy is primarily concerned with:
A) The question "How do we compete in this specific business?"
B) The question "In what industries and markets should we compete?"
C) The coordination of activities within the marketing department
D) The day-to-day decisions made by frontline managers
8. Strategic objectives should be:
A) Vague and open to interpretation
B) Measurable and time-bound
C) Solely focused on financial performance
D) Independent of the company's mission
9. The concept of "sustainable competitive advantage" refers to:
A) A benefit that can be easily copied by competitors
B) A long-term advantage that is difficult for competitors to imitate
C) An advantage that only lasts for one financial quarter
D) A company's commitment to environmental policies
10. Functional-level strategies are designed to:
A) Determine the company's overall scope and direction
B) Support the business-level and corporate-level strategies
C) Outline the company's global expansion plans
D) Define the company's ethical code of conduct
Section 2: External Environmental Analysis (PESTEL, Industry Analysis)
, 11. A PESTEL analysis is a framework used to analyse the:
A) Internal strengths and weaknesses of an organisation
B) Macro-environmental factors affecting an organisation
C) Five forces within an industry
D) Financial ratios of a company
12. Which of the following is a component of a PESTEL analysis?
A) Supplier Power
B) Threat of Substitutes
C) Economic factors
D) Organisational Culture
13. In Porter's Five Forces model, the threat of new entrants is high when:
A) Capital requirements for entry are low
B) Customers have strong brand loyalty
C) The industry is dominated by a few large firms
D) Government regulations are stringent
14. The bargaining power of buyers is likely to be HIGH when:
A) There are few buyers and many sellers
B) The product is highly differentiated
C) Switching costs for the buyer are high
D) The buyer's purchases represent a small fraction of the seller's sales
15. In the Five Forces model, the "threat of substitute products" refers to:
A) New companies entering the market
B) The intensity of competition among existing firms
C) Products or services from other industries that can fulfil the same need
D) The power of suppliers to increase prices
16. The intensity of rivalry among existing competitors is likely to be high
when:
A) The industry is growing rapidly
B) There are high exit barriers and numerous equally balanced competitors
C) Products are highly differentiated
D) The industry has low fixed costs
