Question 1

Strategy is designed or formulated on the basis of ______________________

Accepted Answer

A) Product 
B) Profit 
C) Budget 
D) Goals 
E) Action

Question 2

Another name for GE 9 cell model is

Accepted Answer

A) Three color matrix 
B) Stop light matrix 
C) Strategic portfolio 
D) Color light matrix

Question 3

In BCG matrix, what is the label of horizontal axis?

Accepted Answer

A) Business strategy 
B) Corporate strategy 
C) Operational strategy 
D) All of the above

Question 4

"Strategy as a pattern in streams of decisions and actions" who said?

Accepted Answer

A) Shirley peters and Ansary 
B) Michael porter 
C) Henry mintzberg 
D) Yavitz 
E) Newman

Question 5

The three main responsibilities involved with managing an entrepreneurial venture once its up and running include all of the following except

Accepted Answer

A) Managing process 
B) Managing people 
C) Managing bureaucracy 
D) Managing growth

Question 6

Cultural values would be part of which of the following factor in macro environment?

Accepted Answer

A) Demographic 
B) Social 
C) Ecological 
D) Natural

Question 7

Strategic management is based on _______________________

Accepted Answer

A) Corporate objectives 
B) Financial planning 
C) Cost 
D) Product 
E) Profit

Question 8

The concept of strategy is _________________________________

Accepted Answer

A) Ancient 
B) Old 
C) Modern 
D) All of these 
E) None of these

Question 9

Innovative entrepreneurs face special issues in racing

Accepted Answer

A) Development capital 
B) Structured capital 
C) Human capital 
D) Seed capital

Question 10

In BCG matrix, what is the label of vertical axis?

Accepted Answer

A) Relative market share 
B) Business strength 
C) Industry growth rate 
D) Market growth rate

Question 11

The origin of business policy and strategic management can be retraced to

Accepted Answer

A) 1930 
B) 1911 
C) 1879 
D) 1938

Question 12

Which of the following is not recognized as a misconception about entrepreneurship?

Accepted Answer

A) Successful entrepreneurship needs only a great idea 
B) Entrepreneurship is easy 
C) Entrepreneurship is found only is small business 
D) Entrepreneurial ventures and small business are different

Question 13

What does question mark (?) symbolize in BCG matrix?

Accepted Answer

A) Remain diversified 
B) Invest 
C) Stable 
D) Liquidate

Question 14

Objectives should be __________________

Accepted Answer

A) Measurable 
B) Defined in quantitative form 
C) Practical 
D) Realistic 
E) All of these

Question 15

All of the following represent countries in which the highest level of entrepreneurial activity was found except

Accepted Answer

A) Australia 
B) Korea 
C) Norway 
D) Japan

Question 16

Objectives are _______________________________

Accepted Answer

A) Pioneering description of an organizations actions 
B) Description of expected actions and results not real results 
C) Related to future 
D) Action plans or action-orientations or action commitment of an organization purpose 
E) All of these

Question 17

Individual goal is a _________________________

Accepted Answer

A) Personal goal of an organization member 
B) Productive goal 
C) Co-operative goal 
D) Joint goal 
E) Profit

Question 18

Policy includes _______________________

Accepted Answer

A) Positioning 
B) Operational control 
C) Growth 
D) Financing 
E) All of these

Question 19

Strategic management begins with ____________________

Accepted Answer

A) A mission 
B) A plan or planning 
C) Product 
D) Building 
E) Employees

Question 20

Strategic management involves _____________________

Accepted Answer

A) The determination of the organization mission, strategic policies and strategic objectives 
B) The determination of price of the product and service 
C) Cost 
D) Planning with high cost 
E) Profit

Exam 1: Business Policy, Strategic Management, and Entrepreneurship