1. In strategic thinking, "competitive advantage" refers to:
A. The ability to undercut competitors' prices
B. Offering unique products or services that are valued by
customers
C. The speed at which a company produces goods
D. Focusing exclusively on local markets
Answer: B
Rationale: Competitive advantage is achieved when a company
offers something unique that customers value, making it more
attractive than its competitors.
2. What is the main goal of strategic management?
A. To create short-term profit
B. To ensure operational efficiency
C. To develop long-term strategies for achieving organizational
goals
D. To manage daily tasks and operations
Answer: C
Rationale: The primary goal of strategic management is to
formulate and implement long-term strategies that align with an
organization’s mission, vision, and objectives.
,3. Which of the following is a characteristic of a visionary leader?
A. Focuses primarily on managing day-to-day tasks
B. Develops and communicates a compelling future direction
C. Avoids risks in decision-making
D. Strictly adheres to traditional methods
Answer: B
Rationale: Visionary leaders inspire others by developing and
communicating a clear and compelling direction for the future,
encouraging innovation and alignment with strategic goals.
4. The primary goal of "knowledge management" in an
organization is to:
A. Increase the number of employees
B. Improve organizational knowledge sharing and collaboration
C. Reduce operational costs
D. Manage the company’s physical assets
Answer: B
Rationale: Knowledge management focuses on capturing, sharing,
and utilizing organizational knowledge to improve decision-
making and innovation.
, 5. Which of the following is an advantage of using the
"diversification" strategy?
A. It allows a company to focus on a single product
B. It helps reduce risk by entering new markets or industries
C. It focuses on achieving economies of scale in one product line
D. It limits the company’s operational scope
Answer: B
Rationale: Diversification reduces risk by spreading a company’s
operations across different markets or product lines, which can
help stabilize revenues during economic fluctuations.
6. Which of the following best describes the term "business model
innovation"?
A. Altering existing products to improve customer satisfaction
B. Changing the way a company creates, delivers, and captures
value
C. Reducing the number of competitors in the market
D. Focusing on improving operational efficiencies
Answer: B
Rationale: Business model innovation involves changing how a
company creates, delivers, and captures value, often leading to a
fundamental shift in its market position and strategy.
A. The ability to undercut competitors' prices
B. Offering unique products or services that are valued by
customers
C. The speed at which a company produces goods
D. Focusing exclusively on local markets
Answer: B
Rationale: Competitive advantage is achieved when a company
offers something unique that customers value, making it more
attractive than its competitors.
2. What is the main goal of strategic management?
A. To create short-term profit
B. To ensure operational efficiency
C. To develop long-term strategies for achieving organizational
goals
D. To manage daily tasks and operations
Answer: C
Rationale: The primary goal of strategic management is to
formulate and implement long-term strategies that align with an
organization’s mission, vision, and objectives.
,3. Which of the following is a characteristic of a visionary leader?
A. Focuses primarily on managing day-to-day tasks
B. Develops and communicates a compelling future direction
C. Avoids risks in decision-making
D. Strictly adheres to traditional methods
Answer: B
Rationale: Visionary leaders inspire others by developing and
communicating a clear and compelling direction for the future,
encouraging innovation and alignment with strategic goals.
4. The primary goal of "knowledge management" in an
organization is to:
A. Increase the number of employees
B. Improve organizational knowledge sharing and collaboration
C. Reduce operational costs
D. Manage the company’s physical assets
Answer: B
Rationale: Knowledge management focuses on capturing, sharing,
and utilizing organizational knowledge to improve decision-
making and innovation.
, 5. Which of the following is an advantage of using the
"diversification" strategy?
A. It allows a company to focus on a single product
B. It helps reduce risk by entering new markets or industries
C. It focuses on achieving economies of scale in one product line
D. It limits the company’s operational scope
Answer: B
Rationale: Diversification reduces risk by spreading a company’s
operations across different markets or product lines, which can
help stabilize revenues during economic fluctuations.
6. Which of the following best describes the term "business model
innovation"?
A. Altering existing products to improve customer satisfaction
B. Changing the way a company creates, delivers, and captures
value
C. Reducing the number of competitors in the market
D. Focusing on improving operational efficiencies
Answer: B
Rationale: Business model innovation involves changing how a
company creates, delivers, and captures value, often leading to a
fundamental shift in its market position and strategy.
