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12 Questions

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Strategic Management Process Quiz

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Questions and Answers

How many stages are involved in the strategic management process?

Three

Six

Four

Five (correct)

What does the strategic management process help organizations to do?

Assess their current strategic direction

Make changes without evaluating effectiveness

Formulate action plans (correct)

Identify and analyze internal and external weaknesses

What is at the foundation of every decision that has to be made within an organization?

Mobile platforms

The strategic management process (correct)

Analyzing external strengths and weaknesses

Evaluating the effectiveness of action plans

What does strategic management apply to, according to the text?

Both on-premise and mobile platforms Signup and view all the answers

What is the primary aim of business-level strategy?

Gaining a competitive advantage by offering value to customers Signup and view all the answers

What should marketing campaigns align with, according to the text?

Business-level strategy Signup and view all the answers

What should decisions within functional departments be called, based on the text?

Operational strategies Signup and view all the answers

What is the Business-level strategy concerned with?

Gaining competitive advantage Signup and view all the answers

What does the Strategy Pyramid illustrate?

Levels of strategy - Corporate, Business, and Functional Signup and view all the answers

What is the main concern of functional-level strategy?

Improving the effectiveness of company's operations within departments Signup and view all the answers

What precedes strategy formulation at the Business-level?

Analyzing the external environment Signup and view all the answers

Which analysis frameworks are used at the Business-level strategy?

Porter's Five Forces and PESTEL Analysis Signup and view all the answers