Question 1

A vision statement is a statement that:

Accepted Answer

A)  tells it like it is 
B)  is thorough and exhaustive 
C)  represents a realistic concept of the short-term position of the company 
D)  should be memorable and inspire employees 
A)  tells it like it is 
B)  is thorough and exhaustive 
C)  represents a realistic concept of the short-term position of the company 
D)  should be memorable and inspire employees

Question 2

The five questions (5Qs)of business strategy do NOT include:

Accepted Answer

A)  What products and services does the company plan to produce? 
B)  What customer and geographic markets does the company plan to service? 
C)  What generic strategy must the company avoid in a differentiated market? 
D)  What position in the industry does the company plan to hold in the future? 
A)  What products and services does the company plan to produce? 
B)  What customer and geographic markets does the company plan to service? 
C)  What generic strategy must the company avoid in a differentiated market? 
D)  What position in the industry does the company plan to hold in the future?

Question 3

Reasons why business strategy may be misunderstood within an organisation do NOT include:

Accepted Answer

A)  employees may not be interested in the business strategy 
B)  employees may not understand the business strategy 
C)  employees may not be convinced that the business strategy is right 
D)  employees may get mixed messages from a variety of managers 
A)  employees may not be interested in the business strategy 
B)  employees may not understand the business strategy 
C)  employees may not be convinced that the business strategy is right 
D)  employees may get mixed messages from a variety of managers

Question 4

Value is the difference between:

Accepted Answer

A)  what the customer pays for and deserves 
B)  what the 'office of fair trading' decides a customer has a right to expect 
C)  what the customer pays in costs and receives in benefits 
D)  the customer's buying price and the company's sale price 
A)  what the customer pays for and deserves 
B)  what the 'office of fair trading' decides a customer has a right to expect 
C)  what the customer pays in costs and receives in benefits 
D)  the customer's buying price and the company's sale price

Question 5

In the shareholder value/value-based management theory,management seeks to maximise:

Accepted Answer

A)  market share 
B)  value for the shareholders 
C)  their retirement benefits 
D)  prices in the marketplace 
A)  market share 
B)  value for the shareholders 
C)  their retirement benefits 
D)  prices in the marketplace

Question 6

A mission statement is a statement that:

Accepted Answer

A)  should be used instead of a vision statement 
B)  was always different from the vision statement 
C)  over time, became commonly focused on mundane matters 
D)  operationalises the vision statement for the current business situation 
A)  should be used instead of a vision statement 
B)  was always different from the vision statement 
C)  over time, became commonly focused on mundane matters 
D)  operationalises the vision statement for the current business situation

Question 7

One of the challenges that the emergent strategy approach identifies for planned strategy is:

Accepted Answer

A)  where possible, involve key stakeholders and managers in setting the strategy 
B)  convince the board of directors and the organisation that the emergent strategy is good 
C)  be flexible when unplanned but valuable opportunities emerge that are inconsistent with the planned direction 
D)  allow for expected problems that will undoubtedly emerge as the organisation tries to implement its plan 
A)  where possible, involve key stakeholders and managers in setting the strategy 
B)  convince the board of directors and the organisation that the emergent strategy is good 
C)  be flexible when unplanned but valuable opportunities emerge that are inconsistent with the planned direction 
D)  allow for expected problems that will undoubtedly emerge as the organisation tries to implement its plan

Question 8

'Value' for customers is the additional benefits that are provided by the organisation.

Accepted Answer

A) True 
 B)False

Question 9

The business model of an organisation:

Accepted Answer

A)  takes the value proposition and incorporates it into a specific value chain of activities 
B)  is a process for modelling the success of the organisation's strategy 
C)  determines how the organisation will create customer value 
D)  can be difficult to identify in low-cost manufacturing firms 
A)  takes the value proposition and incorporates it into a specific value chain of activities 
B)  is a process for modelling the success of the organisation's strategy 
C)  determines how the organisation will create customer value 
D)  can be difficult to identify in low-cost manufacturing firms

Question 10

The creation of value for customers requires:

Accepted Answer

A)  a 'supply side' perspective 
B)  a 'demand side' perspective 
C)  an 'input/output' perspective 
D)  a 'reverse engineering' perspective 
A)  a 'supply side' perspective 
B)  a 'demand side' perspective 
C)  an 'input/output' perspective 
D)  a 'reverse engineering' perspective

Question 11

Petris argues that public sector organisations can be divided into three types except those:

Accepted Answer

A)  concerned with profit maximisation 
B)  setting directions 
C)  transforming directions into specific policies and programs 
D)  implementing policies and programs 
A)  concerned with profit maximisation 
B)  setting directions 
C)  transforming directions into specific policies and programs 
D)  implementing policies and programs

Question 12

Identifying the current business strategy of an organisation is not always easy.

Accepted Answer

A) True 
 B)False

Question 13

Strategic analysis is not concerned with the current or existing business strategy.

Accepted Answer

A) True 
 B)False

Question 14

According to Hubbard,Rice and Galvin,competitive advantage is:

Accepted Answer

A)  profit maximisation 
B)  making profits similar to the competitors 
C)  making more profits than competitors for similar activities 
D)  achieving bigger market share than the competitors 
A)  profit maximisation 
B)  making profits similar to the competitors 
C)  making more profits than competitors for similar activities 
D)  achieving bigger market share than the competitors

Question 15

The value proposition rests on the requirement that:

Accepted Answer

A)  the company can charge what it likes for its products 
B)  the customer is 'price insensitive' to the company's offering 
C)  the company's employees have their own prestige invested in its processes 
D)  the company can supply what the customers want at a price they will pay 
A)  the company can charge what it likes for its products 
B)  the customer is 'price insensitive' to the company's offering 
C)  the company's employees have their own prestige invested in its processes 
D)  the company can supply what the customers want at a price they will pay

A vision statement is a statement that:

The five questions (5Qs)of business strategy do NOT include:

Reasons why business strategy may be misunderstood within an organisation do NOT include:

Value is the difference between:

In the shareholder value/value-based management theory,management seeks to maximise:

A mission statement is a statement that:

One of the challenges that the emergent strategy approach identifies for planned strategy is:

'Value' for customers is the additional benefits that are provided by the organisation.

The business model of an organisation:

The creation of value for customers requires:

Petris argues that public sector organisations can be divided into three types except those:

Identifying the current business strategy of an organisation is not always easy.

Strategic analysis is not concerned with the current or existing business strategy.

According to Hubbard,Rice and Galvin,competitive advantage is:

The value proposition rests on the requirement that:

What is ‘strategy’?

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 2: Analysing business strategy: creating value

A vision statement is a statement that:

The five questions (5Qs)of business strategy do NOT include:

Reasons why business strategy may be misunderstood within an organisation do NOT include:

Value is the difference between:

In the shareholder value/value-based management theory,management seeks to maximise:

A mission statement is a statement that:

One of the challenges that the emergent strategy approach identifies for planned strategy is:

'Value' for customers is the additional benefits that are provided by the organisation.

The business model of an organisation:

The creation of value for customers requires:

Petris argues that public sector organisations can be divided into three types except those:

Identifying the current business strategy of an organisation is not always easy.

Strategic analysis is not concerned with the current or existing business strategy.

According to Hubbard,Rice and Galvin,competitive advantage is:

The value proposition rests on the requirement that:

What is ‘strategy’?

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