MCQs on Nature and Scope of Strategic Management

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Strategic management is the management of an organization’s resources to achieve its goals and objectives. Here in MCQs.CLUB we have prepared easy
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MCQs on Nature and Scope of Strategic Management

Strategic management is the management of an organization’s resources to achieve its goals and objectives. Here in MCQs.CLUB we have prepared easy Multiple-Choice Questions (MCQs) on the Nature and Scope of Strategic Management that fully cover MCQ on nature and importance of strategic management and its characteristics, fundamentals of strategic management, introduction to strategic management. Theses MCQs explain the meaning and are an overview of strategic management. These mcq on nature and scope of financial management are also useful for competitive exams, business management exams and professional accountancy exams.

  1. Strategic management is the management of an organization’s resources to achieve its goals and objectives.
    1. True
    2. False
  1. Strategic management involves:
    1. setting objectives
    2. analyzing the competitive environment and the internal organization
    3. evaluating strategies
    4. ensuring that management rolls out the strategies across the organisation
    5. All of the above
  1. The core of a company’s strategy concerns its markets and its products and is about choosing:
    1. where to compete – which business segments.
    2. how to compete – on what basis shall we compete.
    3. Both A&B
    4. None
  1. Strategic decisions relate to the scope of a firm’s activities, the long-term direction of the organisation, and allocation of resources.
    1. True
    2. False
  1. The characteristics of strategic decisions are:
    1. Strategy involves the matching of the activities of an organisation to its environment.
    2. Strategies need to be considered in terms of the extent to which resources can be obtained, allocated and controlled to develop a strategy for the future.
    3. Operational decisions will be affected by strategic decisions because they will set off waves of lesser decisions
    4. All of the above
  1. The process of strategic management includes:
    1. goal setting, analysis
    2. strategy formation, strategy implementation, and strategy monitoring
    3. Both A&B
    4. None
  1. Managing business strategy involves the entire cycle of planning and control, at a strategic level.
    1. True
    2. False
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