Management Functions and Skills Quiz
49 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is a primary function of management?

  • Selling products
  • Attending meetings
  • Answering emails
  • Planning (correct)

    • What is a key skill of a manager?

  • Taking coffee breaks
  • Leadership (correct)
  • Filing paperwork
  • Making phone calls

    • What is a crucial aspect of starting a company?

  • Strategic planning (correct)
  • Playing video games
  • Watching TV
  • Scrolling social media

    • What is not a recommended activity for a manager?

    <p>Micromanaging every task</p> Signup and view all the answers

    Which level of strategy involves decisions related to the overall direction of the entire organization?

    <p>Corporate Level Strategy</p> Signup and view all the answers

    What does an ETOP analysis involve?

    <p>Identifying external factors that pose threats or opportunities to the organization</p> Signup and view all the answers

    What does Porter's Five Forces Model of Competition assess?

    <p>Industry attractiveness and competitive position</p> Signup and view all the answers

    What does the BCG Matrix categorize products based on?

    <p>Market share and market growth rate</p> Signup and view all the answers

    What is the primary focus of Business Level Strategy?

    <p>Gaining a competitive advantage in a specific market or industry</p> Signup and view all the answers

    What does the Balanced Scorecard measure performance from?

    <p>Financial, customer, internal processes, and learning and growth perspectives</p> Signup and view all the answers

    What is the focus of Environmental Analysis in the strategic management process?

    <p>Understanding external and internal factors that may impact the organization</p> Signup and view all the answers

    What does the GE 9 Cell Model evaluate business units on?

    <p>Industry attractiveness and competitive position</p> Signup and view all the answers

    What is a key aspect of implementing strategy in the strategic management process?

    <p>Executing the chosen strategy</p> Signup and view all the answers

    What is Threat of new potential entrants in Porter's Five Forces Model of Competition?

    <p>The ease or difficulty for new competitors to enter the market</p> Signup and view all the answers

    What is the primary focus of strategic management?

    <p>Long-term goals and initiatives</p> Signup and view all the answers

    Which term best describes strategic management as a process?

    <p>Continuous and dynamic</p> Signup and view all the answers

    What does strategic management consider when making decisions?

    <p>The organization as a whole, internal, and external factors</p> Signup and view all the answers

    What does strategy involve in the context of strategic management?

    <p>Creating a sustainable competitive advantage through choices about where to compete and how to compete</p> Signup and view all the answers

    Which term refers to a specific maneuver or stratagem to outsmart a competitor in Mintzberg’s 5P’s of Strategy?

    <p>Ploy</p> Signup and view all the answers

    At what levels does strategic management operate within an organization?

    <p>At all levels including corporate, business, and functional levels</p> Signup and view all the answers

    What is the primary focus of strategic management?

    <p>Long-term goals and objectives</p> Signup and view all the answers

    Which term best describes the nature of strategic management?

    <p>Dynamic</p> Signup and view all the answers

    What is the role of stakeholders in strategic management?

    <p>Consideration in the decision-making process</p> Signup and view all the answers

    How is strategy defined in the context of strategic management?

    <p>An intended course of action</p> Signup and view all the answers

    According to Mintzberg, what does 'ploy' represent in the 5P's of Strategy?

    <p>A tactical maneuver to deceive competitors</p> Signup and view all the answers

    What does the holistic approach in strategic management involve?

    <p>Taking into account internal and external factors</p> Signup and view all the answers

    What is the primary focus of strategic management?

    <p>Continuous adaptation to changing circumstances</p> Signup and view all the answers

    What is Mintzberg's 'ploy' in the 5P's of Strategy?

    <p>Specific maneuver or stratagem to outsmart a competitor</p> Signup and view all the answers

    What does the holistic approach in strategic management involve?

    <p>Taking into account internal and external factors</p> Signup and view all the answers

    What is the role of stakeholders in strategic management?

    <p>Considered for their interests and input in decision-making</p> Signup and view all the answers

    At what levels does strategic management operate within an organization?

    <p>Corporate, business, and functional levels</p> Signup and view all the answers

    How is strategy defined in the context of strategic management?

    <p>A long-term course of action</p> Signup and view all the answers

    What does the BCG Matrix categorize products based on?

    <p>Market share and market growth rate</p> Signup and view all the answers

    What does the GE 9 Cell Model evaluate business units on?

    <p>Industry attractiveness and competitive position</p> Signup and view all the answers

    What does Porter's Five Forces Model of Competition assess?

    <p>Ease or difficulty of new competitors to enter the market</p> Signup and view all the answers

    What is the primary focus of Business Level Strategy?

    <p>Gaining a competitive advantage in a specific market or industry</p> Signup and view all the answers

    What is Threat of new potential entrants in Porter's Five Forces Model of Competition?

    <p>The ease or difficulty of new competitors to enter the market</p> Signup and view all the answers

    What is the role of stakeholders in strategic management?

    <p>Influencing and being influenced by the strategic actions and outcomes</p> Signup and view all the answers

    What does the Balanced Scorecard measure performance from?

    <p>Financial, customer, internal processes, and learning and growth perspectives</p> Signup and view all the answers

    What is a key aspect of implementing strategy in the strategic management process?

    <p>Executing the chosen strategy</p> Signup and view all the answers

    What does an ETOP analysis involve?

    <p>Identifying external factors that pose threats or opportunities to the organization.</p> Signup and view all the answers

    How is strategy defined in the context of strategic management?

    <p>Developing a plan to achieve objectives in a specific market or industry.</p> Signup and view all the answers

    What is the focus of the Balanced Scorecard in strategic management?

    <p>Measuring performance from financial, customer, internal processes, and learning and growth perspectives</p> Signup and view all the answers

    What is the primary focus of the BCG Matrix?

    <p>Categorizing products into stars, question marks, cash cows, and dogs based on market share and market growth rate</p> Signup and view all the answers

    What does the GE 9 Cell Model evaluate business units on?

    <p>Evaluating business units on industry attractiveness and competitive position</p> Signup and view all the answers

    What is the primary focus of Environmental Analysis in the strategic management process?

    <p>Understanding the external and internal factors that may impact the organization</p> Signup and view all the answers

    What does an ETOP analysis involve?

    <p>Identifying external factors that pose threats or opportunities to the organization</p> Signup and view all the answers

    What is the primary focus of Corporate Level Strategy?

    <p>Decisions related to the overall direction of the entire organization</p> Signup and view all the answers

    What does the Threat of substitute products/services assess in Porter’s Five Forces Model of Competition?

    <p>The availability of alternative products or services that can satisfy the same customer needs</p> Signup and view all the answers

    More Like This

    Management Functions and Skills
    12 questions

    Management Functions and Skills

    EventfulUkulele avatar
    EventfulUkulele
    Directing and Leadership in Management
    32 questions

    Directing and Leadership in Management

    IntricatePeridot8390 avatar
    IntricatePeridot8390
    Understanding Management Functions
    10 questions

    Understanding Management Functions

    UnmatchedCongas5734 avatar
    UnmatchedCongas5734
    Introduction to Management Chapter 1
    48 questions

    Introduction to Management Chapter 1

    ReceptivePrologue9356 avatar
    ReceptivePrologue9356
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser