(i) The basic activities of strategic management include:

(a) Offense, defense, and control. (b) Situation analysis, strategy formulation, strategy implementation, and strategy evaluation. (c) Development, control, and management. (d) Ethics, management, and practice.

(ii) Which of the following is NOT a major element of the strategic management process?

(a) Formulating strategy (b) Implementing strategy (c) Evaluating strategy (d) Assigning administrative tasks

(iii) Competitive advantage can best be described as:

(a) Increased efficiency. (b) What sets an organization apart. (c) A strength of the organization. (d) Intangible resources.

(iv) According to the guerrilla view of competitive advantage, the state of an organization's competitive advantage is:

(a) Temporary. (b) Long term. (c) Long term based on the role of strategic leadership.(d) Able to provide stable cash flows.

(v) A __________ statement is a statement of what specific organizational units do and what they hope to accomplish.

(a) Vision (b) Strategy (c) Technology (d) Mission

(vi) The organization's major value-creating skills and capabilities that are shared across multiple product lines or multiple businesses are called:

(a) Distinctive organizational capabilities. (b) Competitive intelligence. (c) Core weaknesses. (d) Core competencies.

(vii) When a division of an organization has a high relative market share and is in a fast-growing industry, it is called a

(a) Star.(b) Cash cow.(c) Question mark.(d) Dog.

(viii) The three generic types of competitive strategies are:

(a) Vertical integration, diversification, and growth. (b) Cost leadership, differentiation, and focus. (c) Prospector, defender, and analyzer. (d) Build market share, maintain industry rank, and increase business strength.

(ix) Which of the following is the main objective in the successful pursuit of the cost leadership strategy?

(a) Product innovation (b) Efficiency in operations (c) Customer focus (d) Product design

(x) The main goal of a company pursuing a differentiation strategy is to:(a) Increase market share and profits. (b) Lower production costs and increase efficiency. (c) Provide products or services that are unique. (d) Improve customer-oriented service.

Unit-I2. What is strategy? Briefly discuss different levels of strategy in a business organization.Or Propose the factors to be taken into account while setting business objectives.Unit-II3. What points needed to be considered while using a particular method or technique for environmental scanning?Or How does the element of economic and political environment affect the strategic management process?Unit-III4. Under what condition firms are motivated to adopt Integration, Diversification and Modernization strategy? Or Briefly discuss the process of strategic choice with the help of suitable exampleUnit-IV5. What are the various issues involved in Strategic Implementation? Or Mention the types of structures used to create and maintain inter organizational relation.Unit-V6. What is the role of organizational system in strategic evaluation?Or Briefly discuss the strategic evaluation process for operational control.

7. Enumerate the elements of model strategic management process in detail.

8. Select any organization of your choice. Identify the high priority environmental factors in its relevant environment and use this information to prepare a summary ETOP for the organization.

9. Discuss the conditions under which joint ventures are created and what strategic issues are involved in it. Also explain the benefits and drawbacks in joint venture.

10. Write a descriptive note on the nature, need and development of functional plans and policies.

11. Critically evaluate the evaluation technique for strategic and operational control.