Question 1

Two main levels of strategy can be distinguished: the corporate strategy level and the business (or competitive) strategy level

Accepted Answer

A) True 
 B)False

Question 2

The basic strategy framework links a firm to its owners - the shareholders

Accepted Answer

A) True 
 B)False

Question 3

Strategy fulfills three major roles. It is a:

Accepted Answer

A) Coordination device, decision support tool, , and risk reducer 
B) Coordination device, strategy goal, and organizational identity builder 
C) Coordination device, decision support tool, , and strategy goal 
D) None of the above 
A) Coordination device, decision support tool, , and risk reducer 
B) Coordination device, strategy goal, and organizational identity builder 
C) Coordination device, decision support tool, , and strategy goal 
D) None of the above

Question 4

Strategic analysis gives us frameworks to identify, classify and understand issues

Accepted Answer

A) True 
 B)False

Question 5

Good strategy analysis generates 'right' answers to strategic problems

Accepted Answer

A) True 
 B)False

Question 6

How do corporate level strategy and business level strategy differ?

Accepted Answer

A) Corporate strategy defines the scope of a firm's activities, while business strategy focuses on how to beat the competition in a specific product market 
B) Corporate strategy defines the scope of a firm's structure, while business strategy emphasizes the relationship of each business with its environment (state, regulators, etc.) 
C) Corporate strategy focuses on the overall strategic plan, while business strategy focuses on implementing strategic decisions in each product market 
D) Corporate level strategy is concerned with long term goals, while business level strategy focuses on short term sustainability 
A) Corporate strategy defines the scope of a firm's activities, while business strategy focuses on how to beat the competition in a specific product market 
B) Corporate strategy defines the scope of a firm's structure, while business strategy emphasizes the relationship of each business with its environment (state, regulators, etc.) 
C) Corporate strategy focuses on the overall strategic plan, while business strategy focuses on implementing strategic decisions in each product market 
D) Corporate level strategy is concerned with long term goals, while business level strategy focuses on short term sustainability

Question 7

Executing a good strategy well often determines the extent of a firm's success

Accepted Answer

A) True 
 B)False

Question 8

For most firms, luck appears to be the largest factor explaining whether they fail or succeed

Accepted Answer

A) True 
 B)False

Question 9

In practice, strategy making is:

Accepted Answer

A) A combination of centrally-driven rational design and decentralized adaptation 
B) A combination of luck, organizational politics, and centrally-driven planning 
C) Frequently the expression of power struggles among top managers 
D) None of the above 
A) A combination of centrally-driven rational design and decentralized adaptation 
B) A combination of luck, organizational politics, and centrally-driven planning 
C) Frequently the expression of power struggles among top managers 
D) None of the above

Question 10

Strategic goals have to be:

Accepted Answer

A) Simple 
B) Consistent 
C) Long term 
D) All of the above 
A) Simple 
B) Consistent 
C) Long term 
D) All of the above

Question 11

Is the business strategy the strategy of a part of the firm or the strategy of the whole firm competing in a specific market?

Accepted Answer

This question relates to at least two el

Question 12

Two schools of thought consider the strategic process differently:

Accepted Answer

A) The Design school sees strategy as a rational process while the Emergent school views strategy as the outcome of interaction between strategy formulation and implementation 
B) The Learning school sees strategy as a learning process while the Structural school focuses on the strategy-structure relationship 
C) The Psychological school emphasizes the founder's subconscious limitations and assumptions, while the Sociological school studies the strategy formulation process as team dynamics 
D) The Design school that sees strategy as a rational and analytical process and the Implementation school which looks at the actual behavior exhibited by an organization 
A) The Design school sees strategy as a rational process while the Emergent school views strategy as the outcome of interaction between strategy formulation and implementation 
B) The Learning school sees strategy as a learning process while the Structural school focuses on the strategy-structure relationship 
C) The Psychological school emphasizes the founder's subconscious limitations and assumptions, while the Sociological school studies the strategy formulation process as team dynamics 
D) The Design school that sees strategy as a rational and analytical process and the Implementation school which looks at the actual behavior exhibited by an organization

Question 13

"Strategy as a target" means that:

Accepted Answer

A) The identification and design of the future of a firm's strategy is part of the strategic process 
B) Top managers must check the gap between realized and intended strategies 
C) Strategy focuses on the ultimate organizational goal: profit 
D) None of the above 
A) The identification and design of the future of a firm's strategy is part of the strategic process 
B) Top managers must check the gap between realized and intended strategies 
C) Strategy focuses on the ultimate organizational goal: profit 
D) None of the above

Question 14

In the military field, we generally make the following distinction between strategy and tactic:

Accepted Answer

A) Tactic is the overall plan whereas strategy focuses on specific actions 
B) Tactic is a scheme for a specific action whereas strategy relates to the global plan 
C) Tactic encompasses specific political actions within the firm whereas strategy is the overall plan for deploying resources to establish a favorable position 
D) Tactic is the overall plan whereas strategy is concerned with the maneuvers to win battles 
A) Tactic is the overall plan whereas strategy focuses on specific actions 
B) Tactic is a scheme for a specific action whereas strategy relates to the global plan 
C) Tactic encompasses specific political actions within the firm whereas strategy is the overall plan for deploying resources to establish a favorable position 
D) Tactic is the overall plan whereas strategy is concerned with the maneuvers to win battles

Question 15

Are corporate-level strategic decisions only made by top managers?

Accepted Answer

In most cases, top managers are in charg

Question 16

Prahalad and Hamel used "strategic intent" to describe the articulation of a desired leadership position. This implies that:

Accepted Answer

A) Strategy should focus more on people and less on financial outcomes 
B) Strategy should focus on leadership and top managers' skills 
C) Strategy should be more about fit and resource allocation, and less about stretch and resource leverage 
D) Strategy should be less about fit and resource allocation, and more about stretch and resource leverage 
A) Strategy should focus more on people and less on financial outcomes 
B) Strategy should focus on leadership and top managers' skills 
C) Strategy should be more about fit and resource allocation, and less about stretch and resource leverage 
D) Strategy should be less about fit and resource allocation, and more about stretch and resource leverage

Question 17

Strategy can be:

Accepted Answer

A) Intended, emergent, or realized 
B) Intended, emergent, or sustained 
C) Emergent, critical, or sustained 
D) Realized, emergent, failed 
A) Intended, emergent, or realized 
B) Intended, emergent, or sustained 
C) Emergent, critical, or sustained 
D) Realized, emergent, failed

Question 18

From the three stories describing key attributes of strategy at the beginning of the chapter, four factors stand out:

Accepted Answer

A) Goals, environment, appraisal of resources, and social and cultural implications 
B) Goals, internal and external analysis of the environment, effective implementation, and awareness of rivals' strengths 
C) Goals, environment, appraisal of resources, and effective implementation 
D) Goals, environment, irreversibility of decision, and effective implementation 
A) Goals, environment, appraisal of resources, and social and cultural implications 
B) Goals, internal and external analysis of the environment, effective implementation, and awareness of rivals' strengths 
C) Goals, environment, appraisal of resources, and effective implementation 
D) Goals, environment, irreversibility of decision, and effective implementation

Question 19

Strategic decisions are important, involve a significant commitment of resources and should be easily reversible

Accepted Answer

A) True 
 B)False

Question 20

Firms experience different levels of stability in regards to their external environments. For example:

Accepted Answer

A) The Roman Catholic church and the US Postal Service inhabit unstable environments 
B) Google works in a stable and predictable environment 
C) Baghdad Home Security Services Ltd.'s activities take place in a very stable environment 
D) The three items above are correct if stable is replaced by unstable and conversely 
A) The Roman Catholic church and the US Postal Service inhabit unstable environments 
B) Google works in a stable and predictable environment 
C) Baghdad Home Security Services Ltd.'s activities take place in a very stable environment 
D) The three items above are correct if stable is replaced by unstable and conversely

Two main levels of strategy can be distinguished: the corporate strategy level and the business (or competitive) strategy level

The basic strategy framework links a firm to its owners - the shareholders

Strategy fulfills three major roles. It is a:

Strategic analysis gives us frameworks to identify, classify and understand issues

Good strategy analysis generates 'right' answers to strategic problems

How do corporate level strategy and business level strategy differ?

Executing a good strategy well often determines the extent of a firm's success

For most firms, luck appears to be the largest factor explaining whether they fail or succeed

In practice, strategy making is:

Strategic goals have to be:

Is the business strategy the strategy of a part of the firm or the strategy of the whole firm competing in a specific market?

Two schools of thought consider the strategic process differently:

"Strategy as a target" means that:

In the military field, we generally make the following distinction between strategy and tactic:

Are corporate-level strategic decisions only made by top managers?

Prahalad and Hamel used "strategic intent" to describe the articulation of a desired leadership position. This implies that:

Strategy can be:

From the three stories describing key attributes of strategy at the beginning of the chapter, four factors stand out:

Strategic decisions are important, involve a significant commitment of resources and should be easily reversible

Firms experience different levels of stability in regards to their external environments. For example:

Goals, Values and Performance

Industry Analysis: the Fundamentals

Further Topics in Industry and Competitive Analysis

Analyzing Resources and Capabilities

Developing Resources and Capabilities

Organization Structure and Management Systems: the Fundamentals of Strategy Implementation

The Nature and Sources of Competitive Advantage

Cost Advantage

Differentiation Advantage

Industry Evolution and Strategic Change

Technology-Based Industries and the Management of Innovation

Competitive Advantage in Mature Industries

Vertical Integration and the Scope of the Firm

Global Strategies and the Multinational Corporation

Diversification Strategy

Implementing Corporate Strategy: Management of the Multibusiness Firm

Current Trends in Strategic Management

Filters

Exam 1: The Concept of Strategy

Two main levels of strategy can be distinguished: the corporate strategy level and the business (or competitive) strategy level

The basic strategy framework links a firm to its owners - the shareholders

Strategy fulfills three major roles. It is a:

Strategic analysis gives us frameworks to identify, classify and understand issues

Good strategy analysis generates 'right' answers to strategic problems

How do corporate level strategy and business level strategy differ?

Executing a good strategy well often determines the extent of a firm's success

For most firms, luck appears to be the largest factor explaining whether they fail or succeed

In practice, strategy making is:

Strategic goals have to be:

Is the business strategy the strategy of a part of the firm or the strategy of the whole firm competing in a specific market?

Two schools of thought consider the strategic process differently:

"Strategy as a target" means that:

In the military field, we generally make the following distinction between strategy and tactic:

Are corporate-level strategic decisions only made by top managers?

Prahalad and Hamel used "strategic intent" to describe the articulation of a desired leadership position. This implies that:

Strategy can be:

From the three stories describing key attributes of strategy at the beginning of the chapter, four factors stand out:

Strategic decisions are important, involve a significant commitment of resources and should be easily reversible

Firms experience different levels of stability in regards to their external environments. For example:

Goals, Values and Performance

Industry Analysis: the Fundamentals

Further Topics in Industry and Competitive Analysis

Analyzing Resources and Capabilities

Developing Resources and Capabilities

Organization Structure and Management Systems: the Fundamentals of Strategy Implementation

The Nature and Sources of Competitive Advantage

Cost Advantage

Differentiation Advantage

Industry Evolution and Strategic Change

Technology-Based Industries and the Management of Innovation

Competitive Advantage in Mature Industries

Vertical Integration and the Scope of the Firm

Global Strategies and the Multinational Corporation

Diversification Strategy

Implementing Corporate Strategy: Management of the Multibusiness Firm

Current Trends in Strategic Management

Filters