Exam 1: Mastering Strategy: Art and Science

A clothing line company has a number of outlets which are owned and managed by private individuals.These outlets are allowed to use the brand name and products of the clothing line after paying a fee to the clothing line company.They also pay a part of their revenue to the clothing line.This is an example of:

All firms benefit equally in substantial performance improvements created by planning.

Marty's, a clothing company, has a number of outlets which are owned and managed by private individuals.These outlets are allowed to use the brand name and products of Marty's after paying a fee to the company.They also pay a part of their revenues to Marty's.Each of these outlets is a:

Quattro is a pizza shop that delivers pizzas without any extra charge.It also refunded the entire amount of the order when the pizza was not delivered within 30 minutes from the order placement.After two years it stopped this policy, but it still delivers pizzas without any extra charge.The fact that it stopped the policy of refunds in case of a delay of more than 30 minutes is an example of a _____ strategy.

Viewing strategy as position involves only the actions of a single firm.

The demands of strategic management are simple enough to be handled alone by the chief executive officer.

_____ examines how actions and events involving top executives, firms, and industries influence a firm's success or failure.

A(n) _____ strategy is an unplanned strategy that arises in response to unexpected opportunities and challenges.

Deciding what a firm is not going to do is just as important to strategy as deciding what it is going to do.

What is a non-realized strategy? Give an example of a non-realized strategy.

Which of the following statements holds true for the book "Strategy and Structure: Chapters in the History of the Industrial Enterprise"?

The study of strategic management involves knowing how and when to apply creative thinking.

There is only one single established method of conceptualizing the concept of strategy.

A(n) _____ fee refers to the upfront fee paid by an organization which gets the right to use another organization's brand name, products, and processes.

Strategic management is a process that involves building a careful understanding of how changes in the world might affect a particular firm.

Marty's, a clothing company, has a number of outlets which are owned and managed by private individuals.These outlets are allowed to use the brand name and products of Marty's after paying a fee to the company.They also pay a part of their revenues to the clothing line.The part of the revenues paid by the outlets to Marty's is referred to as:

A company that manufactures cars aims to sell them to customers in the premium market segment.This is an example of strategy as:

A _____ strategy is the parts of the intended strategy that an organization continues to pursue over time.

For a small firm, licensing technology to larger firms provides a second income stream and decreases the chances of imitation.

What is a business model?