Question 1

An organization's _______ seeks to answer the question why an organization exists or "What business are we in?" as Peter Drucker argued.

Accepted Answer

mission

Question 2

Organizations are being encouraged to take an interest in business model innovation for three reasons: Please select all that apply.

Accepted Answer

A)  Product life cycles 
B)  Organizational values can adapt 
C)  Competition from unexpected sources 
D)  Disruptions from competitors 
A)  Product life cycles 
B)  Organizational values can adapt 
C)  Competition from unexpected sources 
D)  Disruptions from competitors A, C, D

Question 3

Jim Collins and Jerry Porras argue that the __________ of an organization do not change as competitive condition changes but remain largely unchanged.

Accepted Answer

core values

Question 4

The strategic management process involves three main phases. These are:

Accepted Answer

A)  Strategy analysis, strategy formulation, strategy review 
B)  Strategy formulation, strategy implementation, strategy review 
C)  Strategy analysis, strategy formulation, strategy implementation 
D)  Strategy analysis, strategy implementation, strategy review 
A)  Strategy analysis, strategy formulation, strategy review 
B)  Strategy formulation, strategy implementation, strategy review 
C)  Strategy analysis, strategy formulation, strategy implementation 
D)  Strategy analysis, strategy implementation, strategy review

Question 5

Factors in the general or macro environment include: Please select all that apply.

Accepted Answer

A)  Competitors 
B)  Issues that could affect all industries 
C)  Issues that could affect customer demand 
D)  Supplier relationships 
A)  Competitors 
B)  Issues that could affect all industries 
C)  Issues that could affect customer demand 
D)  Supplier relationships

Question 6

The work of Andrews (1971) and Ansoff (1965) is associated with which approach?

Accepted Answer

A)  The learning school 
B)  The positioning school 
C)  The resource-based view 
D)  The design school 
A)  The learning school 
B)  The positioning school 
C)  The resource-based view 
D)  The design school

Question 7

In general, a firm can substitute its business strategy with a business model.

Accepted Answer

A) True 
 B)False

Question 8

Strategy formulation is a conscious process that is based on the results of the strategy analysis.

Accepted Answer

A) True 
 B)False

Question 9

Strategy involves matching an organization's resources to the environment. It also involves an understanding of the different relationships in which the organization is involved. These relationships are made up of:

Accepted Answer

A)  Collaborators 
B)  Stakeholders 
C)  Competitors 
D)  Shareholders 
A)  Collaborators 
B)  Stakeholders 
C)  Competitors 
D)  Shareholders

Question 10

The resource-based view of the firm considers competitive advantage to come from appropriate positioning in a particular industry.

Accepted Answer

A) True 
 B)False

Question 11

The selection of 'generic' strategies is most associated with which approach to strategy?

Accepted Answer

A)  The emergent approach 
B)  The learning school 
C)  The resource-based view 
D)  The design school 
A)  The emergent approach 
B)  The learning school 
C)  The resource-based view 
D)  The design school

Question 12

Mintzberg (1996) stated 'We all know we shall get nowhere without emergent learning alongside ___________________'.

Accepted Answer

The answer of Mintzberg (1996) stated 'We all know we...

Question 13

A shareholder is an example of a ___________________ that could be internal and external.

Accepted Answer

The answer of A shareholder is an example of a...

Question 14

Effective implementation of strategies requires:

Accepted Answer

A)  Flexible organizational structure and design. 
B)  Proper coordination with stakeholders. 
C)  That all managers and the leaders of an organization will ultimately be responsible for a strategy's success or failure. 
D)  Empowerment of managers to respond to opportunities. 
A)  Flexible organizational structure and design. 
B)  Proper coordination with stakeholders. 
C)  That all managers and the leaders of an organization will ultimately be responsible for a strategy's success or failure. 
D)  Empowerment of managers to respond to opportunities.

Question 15

Strategy in the 1960s was characterized by: Please select all that apply.

Accepted Answer

A)  Unstable markets 
B)  Strategic planning with a long-term view 
C)  Stable markets 
D)  Very little strategic planning 
A)  Unstable markets 
B)  Strategic planning with a long-term view 
C)  Stable markets 
D)  Very little strategic planning

Question 16

Mission could be expressed as employees' emotional commitment towards the organization.

Accepted Answer

A) True 
 B)False

Question 17

Dynamic capability approach increasingly gains its popularity in the strategic management field: Please select all that apply.

Accepted Answer

A)  Organizations have to constantly develop new capabilities as old ones become less effective. 
B)  Dynamic capabilities allow an organization to sustain competitive advantage based on market barriers. 
C)  Dynamics of organizational capabilities are determined by the change in organizational strategy. 
D)  Organizational capabilities co-evolve with the market. 
A)  Organizations have to constantly develop new capabilities as old ones become less effective. 
B)  Dynamic capabilities allow an organization to sustain competitive advantage based on market barriers. 
C)  Dynamics of organizational capabilities are determined by the change in organizational strategy. 
D)  Organizational capabilities co-evolve with the market.

Question 18

The oil company Shell developed scenario planning. This allows the company to formulate its strategic alternatives. Which of the below applies to this approach of strategy formulation? Please select all that apply

Accepted Answer

A)  The model cannot represent reality because it is too complex to be adequately described. 
B)  The model is useful for analysing data and provides a background for strategic decisions. 
C)  It falls into the same school of thought with Porter's generic strategies. 
D)  It is rational. 
A)  The model cannot represent reality because it is too complex to be adequately described. 
B)  The model is useful for analysing data and provides a background for strategic decisions. 
C)  It falls into the same school of thought with Porter's generic strategies. 
D)  It is rational.

Question 19

A decision regarding whether to acquire a business in an unrelated industry would be the concern of:

Accepted Answer

A)  Corporate level strategy 
B)  Business level strategy 
C)  Functional level strategy 
D)  Parent level strategy 
A)  Corporate level strategy 
B)  Business level strategy 
C)  Functional level strategy 
D)  Parent level strategy

Question 20

A vision statement will usually express:

Accepted Answer

A)  Why the organization exists 
B)  The aspirations of the organization 
C)  What the organization believes 
D)  The values and purpose of the organization 
A)  Why the organization exists 
B)  The aspirations of the organization 
C)  What the organization believes 
D)  The values and purpose of the organization

An organization's _______ seeks to answer the question why an organization exists or "What business are we in?" as Peter Drucker argued.

Organizations are being encouraged to take an interest in business model innovation for three reasons: Please select all that apply.

Jim Collins and Jerry Porras argue that the __________ of an organization do not change as competitive condition changes but remain largely unchanged.

The strategic management process involves three main phases. These are:

Factors in the general or macro environment include: Please select all that apply.

The work of Andrews (1971) and Ansoff (1965) is associated with which approach?

In general, a firm can substitute its business strategy with a business model.

Strategy formulation is a conscious process that is based on the results of the strategy analysis.

Strategy involves matching an organization's resources to the environment. It also involves an understanding of the different relationships in which the organization is involved. These relationships are made up of:

The resource-based view of the firm considers competitive advantage to come from appropriate positioning in a particular industry.

The selection of 'generic' strategies is most associated with which approach to strategy?

Mintzberg (1996) stated 'We all know we shall get nowhere without emergent learning alongside ___________________'.

A shareholder is an example of a ___________________ that could be internal and external.

Effective implementation of strategies requires:

Strategy in the 1960s was characterized by: Please select all that apply.

Mission could be expressed as employees' emotional commitment towards the organization.

Dynamic capability approach increasingly gains its popularity in the strategic management field: Please select all that apply.

The oil company Shell developed scenario planning. This allows the company to formulate its strategic alternatives. Which of the below applies to this approach of strategy formulation? Please select all that apply

A decision regarding whether to acquire a business in an unrelated industry would be the concern of:

A vision statement will usually express:

Evaluating the Macro-Environment

Industry Analysis

The Organisation: Value-Creating Activities

The Internal Environment: a Resource-Based View of Strategy

Business Strategy

Corporate Strategy

International Strategy

Organizational Structures and Strategic Change

Strategic Leadership

Corporate Governance

Filters

Exam 1: What Is Strategy

An organization's _______ seeks to answer the question why an organization exists or "What business are we in?" as Peter Drucker argued.

Organizations are being encouraged to take an interest in business model innovation for three reasons: Please select all that apply.

Jim Collins and Jerry Porras argue that the __________ of an organization do not change as competitive condition changes but remain largely unchanged.

The strategic management process involves three main phases. These are:

Factors in the general or macro environment include: Please select all that apply.

The work of Andrews (1971) and Ansoff (1965) is associated with which approach?

In general, a firm can substitute its business strategy with a business model.

Strategy formulation is a conscious process that is based on the results of the strategy analysis.

Strategy involves matching an organization's resources to the environment. It also involves an understanding of the different relationships in which the organization is involved. These relationships are made up of:

The resource-based view of the firm considers competitive advantage to come from appropriate positioning in a particular industry.

The selection of 'generic' strategies is most associated with which approach to strategy?

Mintzberg (1996) stated 'We all know we shall get nowhere without emergent learning alongside ___________________'.

A shareholder is an example of a ___________________ that could be internal and external.

Effective implementation of strategies requires:

Strategy in the 1960s was characterized by: Please select all that apply.

Mission could be expressed as employees' emotional commitment towards the organization.

Dynamic capability approach increasingly gains its popularity in the strategic management field: Please select all that apply.

The oil company Shell developed scenario planning. This allows the company to formulate its strategic alternatives. Which of the below applies to this approach of strategy formulation? Please select all that apply

A decision regarding whether to acquire a business in an unrelated industry would be the concern of:

A vision statement will usually express:

Evaluating the Macro-Environment

Industry Analysis

The Organisation: Value-Creating Activities

The Internal Environment: a Resource-Based View of Strategy

Business Strategy

Corporate Strategy

International Strategy

Organizational Structures and Strategic Change

Strategic Leadership

Corporate Governance

Filters