Management Functions and Skills Quiz
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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

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