1. A results from tough long-term managerial choices among numerous good alternatives, and it indicates commitment to specific markets, policies, procedures, and operations.
   1. Strategic Plan
   2. Operational Plan
   3. Tactical Plan
   4. Monitoring Plan

1. Organization’s long-term objectives mean:
   1. One month only
   2. Six months only
   3. More than a year
   4. 3 Months only

1. A fundamental difference between business strategy and military is that business strategy is formulated, implemented, and evaluated with an assumption of whereas, military strategy is based on an assumption of .
   1. competition, conflict
   2. conflict, competition
   3. war, friendship
   4. Conflict, Dominance

1. A good mission statement .
   1. allows for the generation and consideration of a range of feasible alternative objectives and strategies without unduly stifling management creativity.
   2. needs to be narrow to stop anything new happening in the organization.
   3. is for Operational management only.
   4. is for Accounting Department only.

1. An external audit is identifying rival firms and determining:
   1. their strengths, weaknesses, capabilities, opportunities, threats, and objectives.
   2. their employees
   3. their shareholder details
   4. All of the above

1. As per Resource Based View (RBV), firm structure and database are examples of

.

1. physical resources
2. human resources
3. organizational resources
4. management information system

1. include a large market share, quicker on time delivery than rivals, shorter