TOP 100+ Business Policy And Strategic Management MCQ with Answers PDF

Business Policy And Strategic Management MCQ with Answers PDF: Having a grip on and understanding of Business Policy and Strategic Management is hugely beneficial to you, regardless of your field. At the most basic level, BPSM is the course that deals with the “problem” of how to make money for your business. It not only deals with financial institutions and money-making opportunities, but it also deals with their impacts on the company’s operations and social developments.

This is a collection of Business Policy and Strategic Management MCQ with Answers for MBA, MCA, MMS, PGDM, BBA, B.Com, M.Com, and other management students. These Business policies and Strategic Management multiple-choice questions will help students for SE, NET, Ph.D. entrance exams, and other competitive exams preparation. Let’s start practicing BPSM MCQs for better understanding & score.

A Brief Description About Business Policy And Strategic Management MCQ with Answers

Topic Name:Business Policy and Strategic Management MCQ
No. of Questions:50
Type of Questions:Multiple Choice Questions
Questions Format:Text & PDF
PDF Size:1 MB
PDF Download:Attached Below

Business Policy And Strategic Management MCQ with Answers

1. Procedure is developed or designed by _______

A. Line Managers

B. Top Management

C. Operator

D. Government

Answer: Line Managers

2. A ______ is a series of steps to be followed.

A. Policy

B. Strategy

C. Procedure

D. Coordination

Answer: Procedure

3. ________ offers guidelines for managers to take appropriate decisions.

A. Business Policy

B. Strategic Management

C. Corporate Governance

D. Risk Management

Answer: Business Policy

4. A performance rating system is _________

A. Ratings for last years objectives

B. The extent to which the work objectives met

C. Yearly achievements during specified period

D. A grade or score relating to the overall performance

Answer: A grade or score relating to the overall performance

5. ______ is the type of business policy according to the Nature of Origin.

A. Originated Policy

B. Imposed Policy

C. Appealed Policy

D. All of the above

Answer: All of the above

6. ______ is NOT the type of business policy According to the Mode of Expression.

A. Implied Policy

B. Oral Policy

C. Appealed Policy

D. Written Policy

Answer: Appealed Policy

7. ______ is the type of business policy according to the structure of the organization.

A. Internal Policy

B. External Policy

C. Recruitment and selection policy

D. All of the above

Answer: All of the above

8. Basic Policy, Major Policy and Minor Policy are the types of Business Policies according to_________

A. Origin

B. Importance

C. Structure

D. Scope

Answer: All of the above

9. According to the Scope, business policies can be classified into______

A. General, Specific & Directive Policy

B. Internal & External Policy

C. Oral, Written & Implied Policy

D. All of the above

Answer: All of the above

10. ________can be defined as the decision to select from among the grand strategies considered, the strategy which will best meet the enterprise’s objectives.

A. Business Policy

B. Strategic Management

C. Strategic Choice

D. Risk Management

Answer: Strategic Choice

11. The timescale for performance appraisals is usually –

A. Quarterly

B. Monthly

C. One Year

D. Three Years

Answer: One Year

12. Objective-based rating scales are _______

A. Rating scales allocated by Manager

B. Measures of performance against objectives set

C. Ratings subjectively determined

D. All of the above

Answer: Measures of performance against objectives set

13. ________ is a formal document outlining the ways in which an organization intends to conduct its affairs and act in specific circumstances.

A. Corporate Strategy

B. Policy Statement

C. Blue Ocean Strategy

D. Procedure Statement

Answer: Policy Statement

14. In Business Policy & Strategic Management (BPSM), SAC stands for __________

A. Strategic Advantage of Company

B. Structural Analysis & Comparison

C. Strategic Analysis Code

D. Strategy Analysis and Choice

Answer: Strategy Analysis and Choice

15. The word “Policy” is derived from the french word _______ meaning ‘civil administration’.

A. Politeia

B. Policie

C. Polity

D. Policium

Answer: Policie

16. In BPSM, __________ is guide to action.

A. Strategy

B. Procedure

C. Law

D. Policy

Answer: Policy

17. The word Policy originated in Latin from the Greek word _______ meaning ‘citizenship’.

A. Politeia

B. Policie

C. Politica

D. Policio

Answer: Politeia

18. The fundamental purpose for the existence of any organization is described by its _________

A. Business Mission

B. Strategic Management

C. Business Policy

D. Corporate Strategy

Answer: Business Mission

19. _______acts as a guide in decision making process.

A. Policy

B. Procedure

C. Strategy

D. Governance

Answer: Policy

20. _______is the mode of thought and the principles underlying the activities of an organization or an institution

A. Policy

B. Business

C. Strategy

D. Management

Answer: Policy

21. _________ refers to the exchange of commodities and services for increasing utilities

A. Policy

B. Strategy

C. Business

D. Management

Answer: Business

22. In Business Policy & Strategic Management, SWOC stands for _________

A. Strength Weakness Options Challenges

B. Strategy Weakness Opportunity Challenge

C. Strengths Weaknesses Opportunity Clarity

D. Strengths Weaknesses Opportunities Challenges

Answer: Strengths Weaknesses Opportunities Challenges

23. _________ may be written, oral or implied.

A. Policy

B. Procedure

C. Document

D. Letter

Answer: Policy

24. _________ are always in writing.

A. Policy

B. Procedures

C. Decisions

D. None of the above

Answer: Procedures

25. Policy is more ________than procedure.

A. Rigid

B. Flexible

C. Clear

D. Easy

Answer: Flexible

26. Policy is the creation or design of _______

A. Line Managers

B. Top Management

C. Operator

D. Government

Answer: Top Management

27. Competitive advantage can be best described as ________.

A. Increased Efficiency

B. What sets an organization apart.

C. A strength of the organization

D. Intangible Resources

Answer: Increased Efficiency

28. ________ is the foundation of the Blue Ocean Strategy.

A. Innovation

B. Value Creation

C. Value Innovation

D. Value-cost Trade-off

Answer: Value Innovation

29. The concept of ‘Strategic Window’ was introduced by ________.

A. Michael Porter

B. Peter Drucker

C. Gray Hamel

D. Derek F. Abell

Answer: Derek F. Abell

30. Functional strategies are sometimes called _______.

A. Process Strategies

B. Corporate Strategies

C. Business-unit level Strategies

D. Operational Strategies

Answer: Operational Strategies

31. Corporate Governance is primarily guided by ________.

A. Customers

B. Shareholders

C. Board of Directors

D. Employees

Answer: Shareholders

32. ________ is a new tool for the systematic review of strategy by board members without directly involving themselves with the management of companies

A. Strategic Review

B. Management Review

C. Strategic Planning

D. Strategic Audit

Answer: Strategic Audit

33. The _______ of a company is variously called a statement of philosophy, a statement of beliefs, and a statement of purpose.

A. Mission Statement

B. Vision Statement

C. Quality Principles

D. Policies

Answer: Mission Statement

34. ________ can be defined as the alignment of business operations with social values.

A. Corporate Governance

B. Corporate Social Responsibility

C. Business Policy

D. Sustainability

Answer: Corporate Social Responsibility

35. _______ is the unique capability that helps an organization in capitalizing upon a particular opportunity.

A. Core Competence

B. Distinctive Competence

C. Strategic Competence

D. Threshold Competence

Answer: Distinctive Competence

36. In the BCG Model, ‘BCG’ stands for ________.

A. Business Communication Gap

B. Business Consulting Group

C. Benchmark Consulting Group

D. Boston Consulting Group

Answer: Boston Consulting Group

37. The BCG model is also known as ________.

A. Johari Window

B. Evaluation Matrix

C. Generic Strategy Model

D. Portfolio Matrix

Answer: Portfolio Matrix

38. The competitive threat model or the five forces model was developed by ________.

A. Gray Hamel

B. Peter Drucker

C. Michael E. Porter

D. K. Prahlad

Answer: Michael E. Porter

39. What does STARS symbolize in the BCG matrix ?

A. Introduction

B. Growth

C. Maturity

D. Decline

Answer: Growth

40. What does DOG symbolize in the BCG matrix?

A. Introduction

B. Growth

C. Maturity

D. Decline

Answer: Decline

41. The BCG matrix is mainly designed to analyze ________.

A. Current strategy of the organization

B. Long-term strategic planning

C. Short-term strategic planning

D. Revenue generated by the organization

Answer: Long-term strategic planning

42. ________ is not an element of VUCA.

A. Volatility

B. Unclarity

C. Complexity

D. Ambiguity

Answer: Unclarity

43. ________ is identifying opportunities and threats affecting the business.

A. Environmental Analysis

B. Organizational Analysis

C. Industry Analysis

D. Competitive Analysis

Answer: Environmental Analysis

44. ________ is the collection of managerial decisions and actions that determine the long-run performance of an organization.

A. Planning

B. Leadership

C. Strategic Management

D. Corporate Management

Answer: Strategic Management

45. In the sketch of the BCG matrix, ________ is the label of the vertical axis.

A. Market Growth Rate

B. Business Strength

C. Market Share

D. Industry Growth Rate

Answer: Industry Growth Rate

46. The formal-structured approach of SMP is also sometimes called _________ mode.

A. Execution

B. Adaptive

C. Planning

C. Opportunistic

Answer: Planning

47. The system by which business corporation are directed and controlled is called ________.

A. Corporate Governance

B. Corporate Social Responsibility

C. Strategic Management

D. Organizational Planning

Answer: Corporate Governance

48. The affairs of the company are directed and controlled through the _________ who represent the shareholders of the company.

A. Board of Directors

B. Senior Management

C. Middle Management

D. Managing Director and Chief Executive Officer

Answer: Board of Directors

49. Management thinkers like Peter Drucker feel that business definition should strongly focus on the _________.

A. Shareholders

B. Suppliers

C. Customers

D. Employees

Answer: Customers

50. Xerox’s competence in photocopying and Canon’s competencies in optics, imaging and laser control are examples of _________ competence.

A. Strategic

B. Threshold

C. Distinctive

D. Core

Answer: Core

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FAQ on Business Policy And Strategic Management

Question-1: What is the relationship of business policy to strategic management?

Answer: The relationship between business policy and strategic management is, Strategic Management is a method of putting a policy into effect within a set of time restrictions, whereas Business Policy provides instructions for managers to make acceptable decisions. Business policy is a broad plan of action with no set deadlines.

Question-2: What do you understand by business policy in strategic management?

Answer: The scope or domains within which subordinates in an organization can make decisions are defined by business policy. It allows lower-level management to deal with difficulties and concerns without having to consult top-level management every time a decision needs to be made.

Question-3: What is the relationship between strategy and policy?

Answer: The relationship between strategy and policy is, A policy is a set of guidelines for individuals in charge of making decisions in terms of how they should think and act. A strategy, on the other hand, deals with the allocation and deployment of physical and human resources in the face of environmental challenges in order to achieve the intended goals. A strategy can exist in the absence of a policy.

Categories: MBA MCQs and Answers

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