Question 1

The balanced scorecard approach assesses organisational performance relative to:

Accepted Answer

A)  external consistency of business strategy 
B)  achievement of business strategy 
C)  capabilities of the organisation 
D)  expectations of the key stakeholders 
E)  all of the above 
A)  external consistency of business strategy 
B)  achievement of business strategy 
C)  capabilities of the organisation 
D)  expectations of the key stakeholders 
E)  all of the above E

Question 2

In the business strategy model proposed by Hubbard,Rice and Galvin:

Accepted Answer

A)  performance assessment comes before performance measurement 
B)  performance comes before implementation 
C)  implementation comes after gap analysis 
D)  decision making comes after performance 
A)  performance assessment comes before performance measurement 
B)  performance comes before implementation 
C)  implementation comes after gap analysis 
D)  decision making comes after performance C

Question 3

What is 'strategy'? Is it relevant to all types of organisations?

Accepted Answer

Strategy is defined in many different ways. We define strategy as those decisions that have high medium-term to long-term impact on the activities of the organisation, including the analysis leading to the resourcing and implementation of those decisions, to create value for key stakeholders and to outperform competitors (page 4). The strategy is to assist an organisation to achieve its long-term aims. The essential question in strategy is to understand why some organisations perform better than others (page 5).

Strategy is relevant to all types of organisations regardless of their size (large and small), ownership structure (private and public) and aim (profit and not-for-profit). The development and focus of strategy will, however, vary according to organisation type. For businesses, profits and shareholders are more important than for other types of organisations, but stakeholders, performance and beating competitors (current or potential) are important for all organisations (page 4).

Question 4

Explain the concept of 'sustainability'.Is it relevant for only the shareholders?

Accepted Answer

Sustainability is defined as development

Question 5

Sustainability is defined as development that meets the needs of current shareholders without compromising the ability to meet their needs in the future.

Accepted Answer

A) True 
 B)False

Question 6

Strategy is solely about businesses and corporations.

Accepted Answer

A) True 
 B)False

Question 7

Modern strategic management is based directly on the writings of:

Accepted Answer

A)  Sun Tzu 
B)  Von Clauswitz 
C)  Andrews, Ansoff, Christensen, Guth and Learned 
D)  Michael Porter 
A)  Sun Tzu 
B)  Von Clauswitz 
C)  Andrews, Ansoff, Christensen, Guth and Learned 
D)  Michael Porter

Question 8

In 1985 Michael Porter suggested three generic strategies:

Accepted Answer

A)  low delivered cost, differentiation and focus 
B)  low price, differentiation and focus 
C)  low production cost, high quality and focus 
D)  low cost, differentiation and targeting 
A)  low delivered cost, differentiation and focus 
B)  low price, differentiation and focus 
C)  low production cost, high quality and focus 
D)  low cost, differentiation and targeting

Question 9

One basis for a difference in strategy in smaller countries is:

Accepted Answer

A)  access to export markets 
B)  lack of cooperation between state and federal governments 
C)  foreign capital market manipulation 
D)  political systems 
A)  access to export markets 
B)  lack of cooperation between state and federal governments 
C)  foreign capital market manipulation 
D)  political systems

Question 10

Which one of the following is NOT a corporate strategy of Rio Tinto?

Accepted Answer

A)  improving the accounting function of mining business 
B)  being a worldwide leader in finding, mining and processing mineral resources 
C)  operating in an ethically and socially responsible manner 
D)  delivering high shareholder returns 
A)  improving the accounting function of mining business 
B)  being a worldwide leader in finding, mining and processing mineral resources 
C)  operating in an ethically and socially responsible manner 
D)  delivering high shareholder returns

Question 11

Differences between traditional economics and strategy do NOT include an assumption that:

Accepted Answer

A)  market equilibrium will be reached through the pricing mechanism 
B)  all companies have unique information 
C)  transaction costs are zero 
D)  there are many competitors in most markets 
A)  market equilibrium will be reached through the pricing mechanism 
B)  all companies have unique information 
C)  transaction costs are zero 
D)  there are many competitors in most markets

Question 12

Hubbard,Rice and Galvin state that the essential question in strategy is why do some organisations:

Accepted Answer

A)  seem luckier than others 
B)  maintain their competitive edge longer than others 
C)  perform better than others 
D)  have better CEOs and employees than others 
A)  seem luckier than others 
B)  maintain their competitive edge longer than others 
C)  perform better than others 
D)  have better CEOs and employees than others

Question 13

The three levels of strategy are essential for:

Accepted Answer

A)  all types of organisations 
B)  only large firms 
C)  multi-business organisations 
D)  global organisations only 
A)  all types of organisations 
B)  only large firms 
C)  multi-business organisations 
D)  global organisations only

Question 14

Ansoff's model of strategy proposed in his 1965 book on corporate planning was criticised because it:

Accepted Answer

A)  is linear 
B)  relies on strong market signals 
C)  presumes that all strategic information is available to top management 
D)  presumes that the future is closely related to the past 
A)  is linear 
B)  relies on strong market signals 
C)  presumes that all strategic information is available to top management 
D)  presumes that the future is closely related to the past

Question 15

According to the knowledge-based view of strategy,which of the following is NOT considered as an important organisational resource?

Accepted Answer

A)  operational know-how 
B)  organisational culture 
C)  financial resources 
D)  routines 
A)  operational know-how 
B)  organisational culture 
C)  financial resources 
D)  routines

Question 16

Should strategy development be the exclusive task of the CEO? Evaluate.

Accepted Answer

The essence of the early strategic manag

Question 17

According to Hubbard,Rice and Galvin,the strategic approach for organisations based in smaller countries should be different from the US.

Accepted Answer

A) True 
 B)False

Question 18

As a consequence of a wide range of theories being applied to the field of strategy,we can conclude that:

Accepted Answer

A)  there is considerable overlap between different perspectives 
B)  there are significant differences in emphasis 
C)  the solutions proposed by each perspective are likely to be different 
D)  all of the above 
A)  there is considerable overlap between different perspectives 
B)  there are significant differences in emphasis 
C)  the solutions proposed by each perspective are likely to be different 
D)  all of the above

Question 19

All organisations must have the three levels of strategy.

Accepted Answer

A) True 
 B)False

Question 20

The definition of strategy provided by Hubbard,Rice and Galvin does NOT claim that:

Accepted Answer

A)  strategy is about decision making 
B)  strategy is about short-term impacts of decisions 
C)  strategy is about implementation of decisions 
D)  strategy is about outperforming competitors 
A)  strategy is about decision making 
B)  strategy is about short-term impacts of decisions 
C)  strategy is about implementation of decisions 
D)  strategy is about outperforming competitors

The balanced scorecard approach assesses organisational performance relative to:

In the business strategy model proposed by Hubbard,Rice and Galvin:

What is 'strategy'? Is it relevant to all types of organisations?

Explain the concept of 'sustainability'.Is it relevant for only the shareholders?

Sustainability is defined as development that meets the needs of current shareholders without compromising the ability to meet their needs in the future.

Strategy is solely about businesses and corporations.

Modern strategic management is based directly on the writings of:

In 1985 Michael Porter suggested three generic strategies:

One basis for a difference in strategy in smaller countries is:

Which one of the following is NOT a corporate strategy of Rio Tinto?

Differences between traditional economics and strategy do NOT include an assumption that:

Hubbard,Rice and Galvin state that the essential question in strategy is why do some organisations:

The three levels of strategy are essential for:

Ansoff's model of strategy proposed in his 1965 book on corporate planning was criticised because it:

According to the knowledge-based view of strategy,which of the following is NOT considered as an important organisational resource?

Should strategy development be the exclusive task of the CEO? Evaluate.

According to Hubbard,Rice and Galvin,the strategic approach for organisations based in smaller countries should be different from the US.

As a consequence of a wide range of theories being applied to the field of strategy,we can conclude that:

All organisations must have the three levels of strategy.

The definition of strategy provided by Hubbard,Rice and Galvin does NOT claim that:

Analysing business strategy: creating value

Analysing the external environment

Analysing the organisation’s resources and capabilities

Measuring strategic organisation performance

Gap analysis and business-level strategic options

Strategic decision making

Dynamic competitive strategy

Corporate/multi-business strategy

Acquisitions and alliances

International strategy

Capabilities,systems and structure

Leadership,people and culture

Change management

Filters

Exam 1: What is ‘strategy’?

The balanced scorecard approach assesses organisational performance relative to:

In the business strategy model proposed by Hubbard,Rice and Galvin:

What is 'strategy'? Is it relevant to all types of organisations?

Explain the concept of 'sustainability'.Is it relevant for only the shareholders?

Sustainability is defined as development that meets the needs of current shareholders without compromising the ability to meet their needs in the future.

Strategy is solely about businesses and corporations.

Modern strategic management is based directly on the writings of:

In 1985 Michael Porter suggested three generic strategies:

One basis for a difference in strategy in smaller countries is:

Which one of the following is NOT a corporate strategy of Rio Tinto?

Differences between traditional economics and strategy do NOT include an assumption that:

Hubbard,Rice and Galvin state that the essential question in strategy is why do some organisations:

The three levels of strategy are essential for:

Ansoff's model of strategy proposed in his 1965 book on corporate planning was criticised because it:

According to the knowledge-based view of strategy,which of the following is NOT considered as an important organisational resource?

Should strategy development be the exclusive task of the CEO? Evaluate.

According to Hubbard,Rice and Galvin,the strategic approach for organisations based in smaller countries should be different from the US.

As a consequence of a wide range of theories being applied to the field of strategy,we can conclude that:

All organisations must have the three levels of strategy.

The definition of strategy provided by Hubbard,Rice and Galvin does NOT claim that:

Analysing business strategy: creating value

Analysing the external environment

Analysing the organisation’s resources and capabilities

Measuring strategic organisation performance

Gap analysis and business-level strategic options

Strategic decision making

Dynamic competitive strategy

Corporate/multi-business strategy

Acquisitions and alliances

International strategy

Capabilities,systems and structure

Leadership,people and culture

Change management

Filters