#1
Which leadership style focuses on giving employees freedom and autonomy in their tasks?
Laissez-faire leadership
ExplanationEncourages autonomy and freedom in task execution.
#2
What is SWOT analysis used for in strategic management?
Strategic planning
ExplanationUtilized for assessing Strengths, Weaknesses, Opportunities, and Threats in strategic planning.
#3
What is the primary focus of transactional leadership?
Maintaining existing processes
ExplanationFocuses on maintaining current processes and systems.
#4
Which strategic management approach involves gaining a competitive advantage by offering unique products or services?
Product differentiation
ExplanationGaining a competitive edge through unique products or services.
#5
What is the main purpose of the BCG Matrix in strategic management?
Portfolio analysis
ExplanationAnalyzing and managing a portfolio of business units.
#6
In the context of leadership, what does emotional intelligence primarily focus on?
Interpersonal skills
ExplanationFocus on understanding and managing interpersonal skills.
#7
Which strategic management concept involves expanding a company's activities into different product lines or geographical areas?
Diversification
ExplanationExpanding into new product lines or geographical areas for business growth.
#8
In the context of leadership, what does the term 'vision' refer to?
Long-term objectives
ExplanationRefers to setting long-term organizational objectives.
#9
What does the acronym SMART stand for in the context of goal setting?
Specific, Measurable, Attainable, Relevant, Time-bound
ExplanationCriteria for effective goal setting: Specific, Measurable, Attainable, Relevant, Time-bound.
#10
In the context of organizational culture, what does 'espoused values' refer to?
Officially stated beliefs and principles
ExplanationOfficially stated beliefs and principles of an organization.
#11
What is the primary purpose of a strategic alliance in business?
Market expansion
ExplanationCollaborative partnerships for expanding market presence.
#12
What does the term 'core competency' refer to in the context of strategic management?
Key organizational strengths
ExplanationFundamental strengths and capabilities of an organization.
#13
Which of the following is NOT a characteristic of effective strategic leaders?
Risk aversion
ExplanationEffective leaders exhibit risk-taking tendencies.
#14
Which strategic leadership skill involves the ability to understand and navigate the political landscape within an organization?
Influence and networking
ExplanationNavigating organizational politics and building influence.
#15
Which leadership theory suggests that effective leaders possess a combination of task-oriented and relationship-oriented behaviors?
Contingency theory
ExplanationEffective leadership requires adapting behavior to the situation.
#16
Which strategy involves reducing costs and improving efficiency to gain a competitive advantage?
Cost leadership
ExplanationGaining a competitive edge through cost reduction and efficiency improvement.
#17
What is the primary purpose of the GE McKinsey Matrix in strategic management?
Evaluating market attractiveness
ExplanationAssessing and prioritizing business units based on market attractiveness.