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1.     A supplier group is powerful if
A.    it is not concentrated.
B.    its customers can backward integrate.
C.    it offers unique products.
D.    there are no switching costs.

2.     A company’s actual strategy is
A.    mostly hidden to outside view and is known only to top-level managers.
B.     partly proactive and partly reactive to changing circumstances.
C.    typically planned well in advance and usually deviates little from the planned set of actions and business approaches because of the risks of making on-the-spot changes.
D.    mostly a function of the strategies being used by rival companies  (particularly those companies that are industry leaders).

3.    Board of directors has certain basic tasks as follows:
A.   To monitor plans and programs of production.
B.    To design the course of strategic options and appointment of top management.
C.   To control utilization of resources.
D.   To monitor courses of actions for marketing management.

4.    A Strategic Business Unit (SBU) is defined as a division of an organization:
A.   That helps in the marketing operation.
B.    That helps in the choice of technology.
C.   That enables managers to have better control over the resources.
D.   That helps in identifying talents and potentials of people.

5.    Mckinsey’s 7-s framework consists of:
A.   Structure, Strategy, Software, Skills, Styles, Staff and Supervision
B.    Structure, Strategy, Systems, Skills, Styles, Syndication and Shared values
C.   Structure, Strategy, Systems, Skills, Steering power, Styles and Shared values
D.   Structure, Strategy, Staff, Skills, Systems, Shared values, Style
E.    None of the above

6.    What are enduring statements of purpose that distinguish one business from other similar Firms?
A.     Policies
B.      Mission statements
C.     Objectives
D.     Rules
E.      Nature of ownership

7.    Outsourcing is the
A.     spinning off of a value-creating activity to create a new firm.
B.      selling of a value-creating activity to other firms.
C.     purchase of a value-creating activity from an external supplier.
D.     use of computers to obtain value-creating data from the Internet.

8.    For an actress in Bollywood, her pretty face would be a/an
A.     Asset
B.      Strategic asset
C.     Core competency
D.     Capability
E.      All of the above


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