StratMan Prelim

OLRA College Foundation, Inc.
San Manuel,Tarlac Philippines

Email: [email protected]
(045)606-1468
BS ENTREPRENEURSHIP PROGRAM
PRELIM EXAMINATION – STRATEGIC MANAGEMENT II
1st Semester, AY 2022-2023
Prepared by: Dino Soriano Dizon, CHRA, MRIBM
Name:_____________________________________ Score:____________________
Student No.: _______________ Year/Section:______________
(General Instructions: (1) Use only black or blue pen. No friction pen. (2)
Erasures/Superimpositions/Alterations are considered wrong. (3) Do not tear or fold of any page/s of
your test booklet it will invalidate all your answers. (4) Mind your own business. Anyone caught talking
with his/her seatmate is considered cheating and will be dealt with accordingly. (5) No permit, No
exam.)
PART I. MULTIPLE CHOICE: (2 POINTS EACH ITEM, CORRECT MINUS WRONG) In each of the
following, choose the best answer.
1. Strategic Management does not involve ________.
a. Setting Objectives
b. Analyzing the competitive environment
c. Analyzing the external organization
d. Analyzing the internal organization
2. Strategic Management is the management of an organization’s resources to achieve its ________.

a. Financial needs
b. Goals and Objectives
c. Competitive Advantage
d. Market Share
3. What is the starting point of strategic intent?

a. Goals
b. Vision
c. Objectives
d. Mission
4. The fundamental purpose for the existence of any organization is described by its ________.
a. Mission
b. Policy
c. Objective
d. Strategy
5. The two internal elements of SWOT analysis are ________.

a. Weakness and Threats
b. Opportunities and Threats
c. Strength and Weakness
d. Strength and Threats
6. ________ are the guides to decision Making.

a. Policies
b. Procedure
c. Objectives
d. Goals
7. trategies can be defined as specific results that an organization

seeks to achieve in pursuing its basic missio
7. __________ help an organization gather, analyze, and organize information.
a. Ethics officers
b. Operatives
c. Lobbyists
d. Strategists
8. Strategic management can be defined as the art and science of formulating, implementing, and
evaluating cross-functional decisions that enable an organization to achieve its objectives.
a. True
b. False
c. Somewhat True
d. Somewhat False
9. The action stage of strategic management is called strategy formulation.

a. True
b. False
c. Somewhat True
d. Somewhat False
10. Strategies can be defined as specific results that an organization seeks to achieve in pursuing its
basic mission.
a. True
b. False
c. Somewhat True
d. Somewhat False
11. Reasons for poor or no strategic planning on part of firms include overconfidence, too expensive,
suspicion, and laziness.
a. True
b. False
c. Somewhat True
d. Somewhat False
12. Objectives are an organization's statements that answer the question "what do we want to
become?"
a. True
b. False
c. Somewhat True
d. Somewhat False
13. An organization can pursue any and/or all strategies that potentially could benefit the firm.
a. True
b. False
c. Somewhat True
d. Somewhat False
14. One pitfall to avoid in strategic planning is top management making many intuitive decisions that
conflict with formal planning
a. True
b. False
c. Somewhat True
d. Somewhat False
15. Anything that a firm does especially well compared to rival firms is referred to as:
a. competitive advantage.
b. comparative advantage.
c. an external opportunity.
d. opportunity cost.
16. . What is the first step in the comprehensive strategic management planning?
a. Developing vision and mission statements
b. Performing external audits
c. Performing internal audits
d. Measuring and evaluating performance
17. . In multidivisional organizations, each division should develop a mission statement independent
of the parent company.
a. True
b. False
c. Somewhat True
d. Somewhat False
18. Since a combination strategy is not risky, many organizations pursue a combination of two or
more strategies simultaneously.
a. True
b. False
c. Somewhat True
d. Somewhat False
19. A vision statement answers the question, “What is our business?,” whereas a mission statement
answers, “What do we want to become?”
a. True
b. False
c. Somewhat True
d. Somewhat False
20. What can be defined as the art and science of formulating, implementing and evaluating cross-
functional decisions that enable an organization to achieve its objectives?
a. Strategy formulation
b. Strategy evaluation
c. Strategy implementation
d. Strategic management
Part II: Application
1. Explain why the concept of competitive advantage is central to the study of strategic management. (5
Points)
2. Imagine yourself as the CEO/founder of a OLRA College. (20 Points)
a. Create a vision statement for the college.(5 points)
b. Craft a mission statement for the college.(5 points)
c. Conduct a SWOT Analysis .(10 points)
(Please use the table provided below)
Vision
Mission
STRENGHTS WEAKNESSES
a. a.
b. b.
c. c.
d. d.
e. e.
OPPORTUNITIES THREATS
f. f.
g. g.
h. h.
i. i.
j. j.
3. Which stage in the strategic management process is most difficult? Explain why. (5 points)
4. Explain the relationship between strategic management and competitive advantage for firms. How
can a firm achieve sustained competitive advantage? (10 points)

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OLRA College Foundation, Inc.

San Manuel,Tarlac Philippines

1. Strategic Management does not involve ________.

2. Strategic Management is the management of an organization’s resources to achieve its ________.

3. What is the starting point of strategic intent?

5. The two internal elements of SWOT analysis are ________.

6. ________ are the guides to decision Making.

7. trategies can be defined as specific results that an organization

9. The action stage of strategic management is called strategy formulation.

Part II: Application

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