CSM Strategic Planning & Implementation 2

Question 1

Which framework uses 'Strengths, Weaknesses, Opportunities, and Threats' to evaluate a firm's strategic position?

Accepted Answer

SWOT Analysis

Answer

SWOT Analysis systematically examines internal strengths and weaknesses alongside external opportunities and threats to inform strategic decisions.

Question 2

A company sets a goal to 'increase market share by 10% within 18 months.' This is best described as a:

Accepted Answer

SMART objective

Answer

SMART objectives are Specific, Measurable, Achievable, Relevant, and Time-bound — this goal meets all five criteria.

Question 3

In strategic planning, 'emergent strategy' refers to:

Accepted Answer

Strategies that arise from unplanned actions and responses over time

Answer

Emergent strategy, as described by Mintzberg, develops organically through day-to-day decisions rather than being formally pre-planned.

Question 4

Which of the following best describes a 'strategic gap' in implementation?

Accepted Answer

The difference between intended strategic goals and actual performance

Answer

A strategic gap identifies where current performance falls short of the intended strategy, signaling where implementation efforts must focus.

Question 5

The Balanced Scorecard was developed primarily to address which limitation of traditional performance measurement?

Accepted Answer

Excessive focus on short-term financial results

Answer

Kaplan and Norton created the Balanced Scorecard to complement financial measures with customer, internal process, and learning perspectives.

(CSM) Certified Strategic Manager Practice Test