Re: ::: vuaskari.com ::: MGT603_Midterm papers Correction Thread by Binish

 

Question No: 25    ( Marks: 1 )    - Please choose one

 Which of the following environment includes all those factors which affect the organization and is itself affected by the organization?

       ► Task environment

       ► Social environment

       ► External environment

       ► Internal environment

 

Task Environment:

Task environment includes all those factors which affect the organization and itself affected by the

organization. These factor effects the specific related organizations. These factors are shareholders

community, labor unions, creditor, customers, competitors, trade associations.  

Question No: 26    ( Marks: 1 )    - Please choose one

 Which of the following is a key merit of strategic management?

       ► Strategic management enables an organization to be proactive

       ► Strategic management enables an organization to avoid the threats

       ► Strategic management enables an organization to defeat their competitors

       ► Strategic management enables an organization to foresee into the future

Refrence:

  The aim of strategic management is to articulate a desired future state for the organization and be proactive in implementing actions to bring it about.

 

 

Question No: 27    ( Marks: 1 )    - Please choose one

 Developing vision and mission statements is important because of the following reasons EXCEPT:

       ► They are the basis for allocating resources

       ► They are useful for large firms only

       ► They establish organizational culture

       ► They translate objectives into work structure

Refrence:

An explicit mission statement ensures the unanimity of purpose, provides the basis for resource allocation, guides organizational climate and culture, establishes organizational boundaries, facilitates accountability, and facilitates control of cost, time, and performance.

Read more: Strategy Formulation - organization, levels, system, advantages, manager, school, company, hierarchy, business http://www.referenceforbusiness.com/management/Sc-Str/Strategy-Formulation.html#b#ixzz1eFxyBlEH

   

Question No: 28    ( Marks: 1 )    - Please choose one

 All of the following are the circumstances when forward integration strategies are beneficial to be practiced EXCEPT:

       ► Availability of quality distributors is limited

       ► Existing markets for present products are saturated

       ► Advantages of stable production are high

       ► Present distributors have high profit margins

Refrence:

 Guidelines for the use of integration strategies:

Six guidelines when forward integration may be an especially effective strategy are:

Strategic Management – MGT603 VU

􀂾 Present distributors are expensive, unreliable, or incapable of meeting firm's needs

􀂾 Availability of quality distributors is limited

􀂾 When firm competes in an industry that is expected to grow markedly

􀂾 Organization has both capital and human resources needed to manage new business of distribution

􀂾 Advantages of stable production are high

􀂾 Present distributors have high profit margins

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