Analyzing Strategic Edge – CS Executive Financial and Strategic Management MCQ Questions with Answers you can quickly revise the concepts.
Analyzing Strategic Edge – Strategic Management MCQ
Question 1.
What is the term for the act of recreating a core business process with the goal of improving product output, quality or reducing costs?
(A) Business Process Improvement
(B) Business Process Reengineering
(C) Business Process Change
(D) Business Process Advance
Answer:
(B) Business Process Reengineering
Question 2.
Which of the following is objective of Business Process Reengineering (BPR)?
(A) Boost effectiveness and produce higher quality products for end customer.
(B) Improve efficiency in the production processes.
(C) Providing more meaningful work to employees.
(D) All of the above
Answer:
(D) All of the above
Question 3.
Which of the following is not one of the stepsoftheBusinessProcessReengineering (BPR)?
(A) Identify customers and determine their needs
(B) Determining objectives and frame-work
(C) Formulation of a redesign process plan
(D) Partial modification or marginal improvement in the existing work processes.
Answer:
(D) Partial modification or marginal improvement in the existing work processes.
Question 4.
Which of the following is NOT a principle underlying business process re-engineering (BPR)?
(A) Business process must be managed end to end
(B) Business processes should be agile.
(C) Business processes should use prototype technology
(D) Business processes must be aligned with organizational strategy and needs
(E) None of the above
Answer:
(C) Business processes should use prototype technology
Question 5.
…………. is an approach of setting goals and measuring productivity of firms based on best industry practices or against the products, services and practices of its competitors or other acknowledged leaders in the industry.
(A) Benchmarking
(B) Bench parking
(C) Object marking
(D) Quality marking
Answer:
(A) Benchmarking
Question 6.
Benchmarking –
(A) Helps businesses in improving performance by learning from the best practices and the processes by which they are achieved.
(B) Is a process of continuous improvement in search for competitive advantage.
(C) Is an approach of setting goals and measuring productivity of firms based on best industry practices or against the products, services and practices of its competitors or other acknowledged leaders in the industry.
(D) All of the above
Answer:
(D) All of the above
Question 7.
Consider following two statements.
1. It refers to the analysis and redesign of work flows both within and between the organization and the external entities.
2. Benchmarking is a process of finding the best practices within and outside the industry to which an organization belongs.
Select true statement.
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2
Answer:
(C) Both 1 and 2
Question 8.
Consider following two statements.
I. Benchmarking and Business Process re-engineering are one and the same.
II. Benchmarking is a remedy for all problems faced by organizations.
Select true statement.
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2
Answer:
(D) Neither 1 nor 2
Question 9.
Managers use this type of benchmarking to identify the best way to compete in the market –
(A) Performance Benchmarking
(B) Process Benchmarking
(C) Strategic Benchmarking
(D) Internal Benchmarking
Answer:
(C) Strategic Benchmarking
Question 10.
………… refers to a process when a company compares itself with the competitors inside its industry.
(A) Functional Benchmarking
(B) Competitive benchmarking
(C) Generic Benchmarking
(D) Strategic Benchmarking
Answer:
(B) Competitive benchmarking
Question 11.
Benchmarking Wheel is a ………. stage process.
(A) Four
(B) Five
(C) Six
(D) Seven
Answer:
(B) Five
Question 12.
Which of the following is not Benchmarking Wheel stage process?
(A) Plan
(B) Find
(C) Analyze
(D) Repeat
Answer:
(D) Repeat
Question 13.
TQM owes its genesis to post war research of American management consultants like –
(A) Drs. Joseph Juran & W. Edwards Dening
(B) Dr. Eric Penfield& Dr. Wilder Penfield
(C) Dr. Eric Berne & W. Edwards Dening
(D) Drs. Joseph Juran & Dr. Wilder Penfleld
Answer:
(A) Drs. Joseph Juran & W. Edwards Dening
Question 14.
Which of the following is not a key feature of Total Quality Management?
(A) Continuous improvement
(B) Identifying customers and their needs
(C) Establishing clear specifications
(D) Teamwork, trust and empowerment
Answer:
(C) Establishing clear specifications
Question 15.
……….. collectively established a common set of quality standards known as ISO 9000.
(A) European Economic Community
(B) American Economic Community
(C) Italian Economic Community
(D) Indian Economic Community
Answer:
(A) European Economic Community
Question 16.
As per TQM principles which of the following is problem -…………….
(A) Process
(B) People
(C) Both process and people
(D) Government policy
Answer:
(A) Process
Question 17.
Which of the following does not correctly depict the TQM principle?
(A) Every employee is responsible for quality.
(B) Quality is a long-term investment.
(C) People, not Processes, are the problem.
(D) AD of the above
Answer:
(B) Quality is a long-term investment.
Question 18.
……….. is also considered as a structured approach in managing uncertainty related to a threat.
(A) Crises management
(B) Risk management
(C) Crises of organizational misdeeds
(D) None of above
Answer:
(B) Risk management
Question 19.
…………. is a defined and disciplined business methodology to increase customer satisfaction and profitability by streamlining operations, improving quality and eliminating defects in every organization-wide process.
(A) Six Sigma
(B) TQM
(C) Five Alpha
(D) Six Beta
Answer:
(A) Six Sigma
Question 20.
The reasons for acquisition are –
(A) Increased market power
(B) Increased diversification
(C) Increased speed to market
(D) All of the these
Answer:
(D) All of the these