Page 329 - GMAT 2017b_Neatb

Strategic Management Test

25. Developing a vision and mission, identifying an 28. Which one of these is NOT a part of
organization's external opportunities and threats, Porter's competitive forces in industry analysis.
and determining internal strengths and (A) Potential entry of new competitors
weaknesses are all _____ activities. (B) Bargaining power of suppliers
(A) strategy-formulation (C) Development of substitute products
(B) strategy-implementation (D) Threat of substitute products and services
(C) long-range planning
(D) short-range planning 29. ______ is based on the assumption that the future
will be just like the past.
26. The _______ answers the question "What do we (A) Delphi forecasts
want to become?" whereas _______ answers the (B) Econometric models
question "What is our business?" (C) Linear regression
(A) Vision statement; mission statement (D) Scenario forecasts
(B) Short-term objectives; long-term objectives
(C) Objectives; strategies 30. ______ is adding new, unrelated products or
(D) Mission; vision services for present customers.
(A) Concentric diversification
27. What is the recommended length of an effective (B) Horizontal diversification
mission statement? (C) Conglomerate diversification
(A) One page (D) Product development
(B) Less than 200 words
(C) One sentence of 10 to 20 words.
(D) There is no recommendation.

1. C 6. Economic 11. D 16. C 21. B 26. A

2. A 7. B 12. B 17. B 22. C 27. D

3. A 8. Continuous 13. A 18. C 23. B 28. C

4. D 9. C 14. A 19. A 24. B 29. C

5. C 10. C 15. D 20. Technological 25. A 30. C
leadership

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