Q1.
Strategic planning focuses on the long term and provides a framework for planning decisions at all levels of the organization, including the allocation of resources.
Q2.
The successful strategic planning process needs to be:
Q3.
(I) The more team leaders and employees feel that they are participating in the strategic direction of the firm, the more committed they will be.
(II) Strategic plans generally cover the short term.
Q4.
Scenario planning involves studying emerging trends in an industry to develop a number of scenarios, or possible futures, based on combinations of these trends.
Q5.
The main components of ‘vision’ is/are:
Q6.
The example/s of core values and beliefs is/are:
Q7.
The most successful organizations are those that define themselves with reference to their customers or their markets, rather than a narrow product definition.
Q8.
Strategic plans are concerned with more specific decisions, for example the products to be carried and how they will be priced.
Q9.
A strategic Business unit:
Q10.
(I) Market penetration – a low-risk strategy
(II) Market expansion – a medium-risk strategy.
Q11.
(I) In Oligopoly, only one organization is marketing a particular product or service & there are no close substitutes.
(II) In monopolistic competition, all have incomplete market information.
Q12.
Which of the major demographic factors affecting planning decisions?
Q13.
High inflation can encourage speculation.
Q14.
The analysis which is frequently used to analyze the internal & external environments for an organization.
Q15.
The economic environment of an organization is affected by:
Q16.
(I) No single buyer or seller controls market demand, supply or price in Pure Competition.
(II) High interest rates affect long-term purchases.
Q17.
Turning objectives into concrete goals facilitates the process of management planning and control in all divisions of an organization.
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