Management Functions and Skills Quiz

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?

Micromanaging every task (D) Signup and view all the answers

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

Corporate Level Strategy (C) Signup and view all the answers

What does an ETOP analysis involve?

Identifying external factors that pose threats or opportunities to the organization (A) Signup and view all the answers

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

Industry attractiveness and competitive position (C) Signup and view all the answers

What does the BCG Matrix categorize products based on?

Market share and market growth rate (B) Signup and view all the answers

What is the primary focus of Business Level Strategy?

Gaining a competitive advantage in a specific market or industry (D) Signup and view all the answers

What does the Balanced Scorecard measure performance from?

Financial, customer, internal processes, and learning and growth perspectives (C) Signup and view all the answers

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

Understanding external and internal factors that may impact the organization (A) Signup and view all the answers

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

Industry attractiveness and competitive position (C) Signup and view all the answers

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

Executing the chosen strategy (C) Signup and view all the answers

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

The ease or difficulty for new competitors to enter the market (D) Signup and view all the answers

What is the primary focus of strategic management?

Long-term goals and initiatives (A) Signup and view all the answers

Which term best describes strategic management as a process?

Continuous and dynamic (A) Signup and view all the answers

What does strategic management consider when making decisions?

The organization as a whole, internal, and external factors (D) Signup and view all the answers

What does strategy involve in the context of strategic management?

Creating a sustainable competitive advantage through choices about where to compete and how to compete (B) 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?

Ploy (B) Signup and view all the answers

At what levels does strategic management operate within an organization?

At all levels including corporate, business, and functional levels (A) Signup and view all the answers

What is the primary focus of strategic management?

Long-term goals and objectives (D) Signup and view all the answers

Which term best describes the nature of strategic management?

Dynamic (C) Signup and view all the answers

What is the role of stakeholders in strategic management?

Consideration in the decision-making process (C) Signup and view all the answers

How is strategy defined in the context of strategic management?

An intended course of action (A) Signup and view all the answers

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

A tactical maneuver to deceive competitors (C) Signup and view all the answers

What does the holistic approach in strategic management involve?

Taking into account internal and external factors (B) Signup and view all the answers

What is the primary focus of strategic management?

Continuous adaptation to changing circumstances (A) Signup and view all the answers

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

Specific maneuver or stratagem to outsmart a competitor (A) Signup and view all the answers

What does the holistic approach in strategic management involve?

Taking into account internal and external factors (D) Signup and view all the answers

What is the role of stakeholders in strategic management?

Considered for their interests and input in decision-making (A) Signup and view all the answers

At what levels does strategic management operate within an organization?

Corporate, business, and functional levels (C) Signup and view all the answers

How is strategy defined in the context of strategic management?

A long-term course of action (B) Signup and view all the answers

What does the BCG Matrix categorize products based on?

Market share and market growth rate (B) Signup and view all the answers

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

Industry attractiveness and competitive position (C) Signup and view all the answers

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

Ease or difficulty of new competitors to enter the market (B) Signup and view all the answers

What is the primary focus of Business Level Strategy?

Gaining a competitive advantage in a specific market or industry (A) Signup and view all the answers

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

The ease or difficulty of new competitors to enter the market (A) Signup and view all the answers

What is the role of stakeholders in strategic management?

Influencing and being influenced by the strategic actions and outcomes (A) Signup and view all the answers

What does the Balanced Scorecard measure performance from?

Financial, customer, internal processes, and learning and growth perspectives (D) Signup and view all the answers

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

Executing the chosen strategy (A) Signup and view all the answers

What does an ETOP analysis involve?

Identifying external factors that pose threats or opportunities to the organization. (B) Signup and view all the answers

How is strategy defined in the context of strategic management?

Developing a plan to achieve objectives in a specific market or industry. (D) Signup and view all the answers

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

Measuring performance from financial, customer, internal processes, and learning and growth perspectives (A) Signup and view all the answers

What is the primary focus of the BCG Matrix?

Categorizing products into stars, question marks, cash cows, and dogs based on market share and market growth rate (D) Signup and view all the answers

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

Evaluating business units on industry attractiveness and competitive position (B) Signup and view all the answers

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

Understanding the external and internal factors that may impact the organization (B) Signup and view all the answers

What does an ETOP analysis involve?

Identifying external factors that pose threats or opportunities to the organization (B) Signup and view all the answers

What is the primary focus of Corporate Level Strategy?

Decisions related to the overall direction of the entire organization (D) Signup and view all the answers

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

The availability of alternative products or services that can satisfy the same customer needs (A) Signup and view all the answers

Management Functions and Skills Quiz

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Questions and Answers

What is a primary function of management?

What is a key skill of a manager?

What is a crucial aspect of starting a company?

What is not a recommended activity for a manager?

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

What does an ETOP analysis involve?

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

What does the BCG Matrix categorize products based on?

What is the primary focus of Business Level Strategy?

What does the Balanced Scorecard measure performance from?

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

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

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

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

What is the primary focus of strategic management?

Which term best describes strategic management as a process?

What does strategic management consider when making decisions?

What does strategy involve in the context of strategic management?

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

At what levels does strategic management operate within an organization?

What is the primary focus of strategic management?

Which term best describes the nature of strategic management?

What is the role of stakeholders in strategic management?

How is strategy defined in the context of strategic management?

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

What does the holistic approach in strategic management involve?

What is the primary focus of strategic management?

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

What does the holistic approach in strategic management involve?

What is the role of stakeholders in strategic management?

At what levels does strategic management operate within an organization?

How is strategy defined in the context of strategic management?

What does the BCG Matrix categorize products based on?

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

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

What is the primary focus of Business Level Strategy?

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

What is the role of stakeholders in strategic management?

What does the Balanced Scorecard measure performance from?

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

What does an ETOP analysis involve?

How is strategy defined in the context of strategic management?

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

What is the primary focus of the BCG Matrix?

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

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

What does an ETOP analysis involve?

What is the primary focus of Corporate Level Strategy?

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

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