1. Prioritization can help manage the task of identifying the most pressing initiatives for meeting the goals within your strategic plan. a) Focus on the issues which aren't pressing b) The number should be no less than fifteen c) Have one person prioritize the issues d) Limit the number of issues and gain consensus

2. How would you use your SWOT analysis to develop strategies? a) To threaten others b) To play to your strengths c) To leverage your weaknesses d) To minimize opportunities

3. Ken has been appointed as the team lead for establishing a monitoring system for his organization's strategic plan. Which action item should Ken not concern himself with? a) Keep employees up to date on any adjustments made to the plan b) Maintain the key initiatives identified in the plan c) Obtain approval for the strategic goals within the strategic plan d) Establishing specific criteria and guidelines for evaluating progress

4. Which action would not lend itself to a successful strategic plan implementation? a) Put someone in charge of change management b) Encourage managers to use and refer to the strategic plan whenever appropriate c) Consider having management attend any staff training necessary for plan implementation d) Keep the plan solely in the hands of the implementation team

5. Kay has been given the responsibility and authority of assigning resources to responsibilities generated by the organization's strategic plan within her department. She has already received approval on resource and financial requirements, verified executive support, and identified these responsibilities. She's ready to assign and communicate these responsibilities. Which would be the best way for Kay to move forward? a) Meet with all resources and provide all of them with a complete list of responsibilities and assigned resources b) Meet with each resource individually and provide them with a written plan of their specific responsibilities c) Send an email to each resource that includes a plan of their specific responsibilities d) Meet with all resources and provide all of them with a written plan of their specific responsibilities

6. Which of the following analysis does the firm need not to undertake when conducting an external situational analysis? Select the three correct answers from the list provided. a) Stakeholder analysis b) Market analysis c) Macro-environmental analysis: PESTLE d) Consumer analysis

7.Suppliers, competitors, marketing intermediaries, customers, and publics belong to which organizations environment? a) Competitor b) Microenvironment c) Customer d) Macroenvironment

8. Which of the followings is not a factor that help identify potential competitors? a) Market access b) Technology c) Operating knowledge and skills d) Reputation and image e) Advertising

9. A competitors marketing strategy defines which of the following marketing situation and includes the examination of the strategic choices of the competitor. a) Current b) Past

10. Which of the following is not a strength in SWOT analysis? a) Where are you a cost leader? b) What do your customers consider your strengths? c) What markets do you perform poorly in and why? d) The advantages your firm possesses over your competitors.

11. Which of the following is the opportunity in SWOT analysis? a) Are your competitors doing innovative activities? b) Where is the market growing? c) Are there many businesses better than you? d) Are any new legislations or regulations coming to the market?

12. Which one of the following is a fixed asset for a business firm? a) Transport vehicle for a vehicle dealer firm b) Computer for a software development firm c) Plot of land for a property development firm d) Machinery for a machinery supplier firm

13. What does the term liquid surplus as used in computing working capital denote? a) Surplus of long term sources over long term uses. b) Net working capital c) Surplus from operations d) Cash and bank balances

14. True or False: Ratio analysis is very important for the financial appraisal of a loan and in the case of providing working capital. Determine if the above statement is accurate by selecting true or false. a) True b) False

15. When screening ad agencies, the criteria that cannot be used. a) lower tariff rates b) scope and quality of support services c) quality of coverage d) market coverage

16. When sales take place between related entities of the same company, ___________ is often used. Choose one. a) countertrade pricing b) pricing-to-market (PTM) c) local-currency price stability (LCPS) d) transfer pricing

17. The following is not a merit of standardization. a) economies of scale b) consistent image c) global consumer segments d) creative talent

18. Which of the following is not a factor to consider for investors in their pricing strategy? a) Sustained pricing b) Business feasibility c) Correct pricing model d) Customers willpower

19. True or False - It is best to use cost-based pricing when your products are highly differentiated in the market. Determine if the above statement is accurate by selecting true or false. a) True b) False