,1. Question: Which of the following is NOT a
characteristic of a well-formed mission statement?
a) Logical consistency
b) Broad scope
c) Long-term focus
d) Specific operational objectives
Answer: d) Specific operational objectives
Rationale: A mission statement should be broad and
focus on the overall purpose and values of the organization,
not on specific operational goals.
2. Question: The concept of "Core Competence" is
primarily concerned with:
a) Financial performance
b) Unique strengths that provide competitive advantage
c) Market share
d) Customer satisfaction
Answer: b) Unique strengths that provide competitive
advantage
Rationale: Core competencies are the unique
capabilities that differentiate a firm in the marketplace.
, Answer: b) To identify strengths, weaknesses,
opportunities, and threats
Rationale: A SWOT analysis helps organizations
assess their internal and external environments for strategic
planning.
4. Question: In Michael Porter’s Five Forces Framework,
the threat of new entrants is influenced by:
a) The bargaining power of suppliers
b) The rarity of the resources required
c) Customer loyalty to existing brands
d) Technological advances
Answer: c) Customer loyalty to existing brands
Rationale: High customer loyalty can deter new
entrants due to the difficulty of attracting customers.
5. Question: Which strategy is characterized by focused
attention on a specific market segment?
a) Cost Leadership
b) Differentiation
c) Focus Strategy
d) Blue Ocean Strategy
Answer: c) Focus Strategy
Rationale: A focus strategy centers on specific market
niches, allowing companies to tailor their offerings closely to
particular segments.
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