Question 1

The two ways that related markets can be developed for existing products are:

Accepted Answer

A)  target new customer segments and/or expand geographically 
B)  target old customer segments and/or expand regionally 
C)  target new consumer segments and/or expand internationally 
D)  target old consumer markets and/or expand locally 
A)  target new customer segments and/or expand geographically 
B)  target old customer segments and/or expand regionally 
C)  target new consumer segments and/or expand internationally 
D)  target old consumer markets and/or expand locally A

Question 2

A way that closely related product development for existing markets can take place is to:

Accepted Answer

A)  remove product features and refinements 
B)  expand the production mix 
C)  develop a new-generation product 
D)  develop new products for new markets 
A)  remove product features and refinements 
B)  expand the production mix 
C)  develop a new-generation product 
D)  develop new products for new markets C

Question 3

The risks of differentiation strategy do NOT include:

Accepted Answer

A)  degree of differentiation is not sustained 
B)  differentiation is not sufficient for the cost difference to the customer 
C)  a focuser will out-differentiate the differentiator 
D)  differentiation is not sufficient for the cost difference to the differentiator 
A)  degree of differentiation is not sustained 
B)  differentiation is not sufficient for the cost difference to the customer 
C)  a focuser will out-differentiate the differentiator 
D)  differentiation is not sufficient for the cost difference to the differentiator D

Question 4

In order to adopt 'premium pricing' strategy,it is important not to view organisational products and services as 'commodities'.

Accepted Answer

A) True 
 B)False

Question 5

The set of measures used to compare organisation performance with key competitors is:

Accepted Answer

A) 	market penetration, financial performance, service performance, technological performance 
B) 	market position, financial performance, service performance, technological performance 
C) 	market posture, financial performance, strategy perfection, environmental performance 
D) 	market position, environmental performance, strategy performance, capability performance 
A) 	market penetration, financial performance, service performance, technological performance 
B) 	market position, financial performance, service performance, technological performance 
C) 	market posture, financial performance, strategy perfection, environmental performance 
D) 	market position, environmental performance, strategy performance, capability performance

Question 6

The product-market matrix does NOT offer the option of:

Accepted Answer

A)  more existing product(s) into existing market(s) 
B)  new product(s) into existing market(s) 
C)  existing product(s) into foreign market(s) 
D)  imported product(s) into new market(s) 
A)  more existing product(s) into existing market(s) 
B)  new product(s) into existing market(s) 
C)  existing product(s) into foreign market(s) 
D)  imported product(s) into new market(s)

Question 7

'Gap analysis is useless because it only identifies yesterday's "gaps" and tells us nothing about where tomorrow's "gaps" will occur.' Is this a fair criticism? Provide reasons.

Accepted Answer

Although gap analysis aims to identify t

Question 8

Current reported financial performance may simply lull the organisation into a false sense of security.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is NOT a key element of 'blue ocean' strategy developed by Kim and Mauborgne?

Accepted Answer

A)  creating or finding uncontested market space by seeking opportunities based on customer needs, and what competitors currently do 
B)  making the competition irrelevant by offering new and different products that cross industry boundaries 
C)  creating and capturing new demand 
D)  pursuing differentiation and low cost simultaneously 
A)  creating or finding uncontested market space by seeking opportunities based on customer needs, and what competitors currently do 
B)  making the competition irrelevant by offering new and different products that cross industry boundaries 
C)  creating and capturing new demand 
D)  pursuing differentiation and low cost simultaneously

Question 10

The risks of a low-cost strategy do NOT include:

Accepted Answer

A)  too narrow a focus on profit margins 
B)  too narrow a focus on cost control 
C)  cost leadership is not sustained 
D)  focus strategy is able to offer even lower costs 
A)  too narrow a focus on profit margins 
B)  too narrow a focus on cost control 
C)  cost leadership is not sustained 
D)  focus strategy is able to offer even lower costs

Question 11

A focus strategy can be achieved by competing on the basis of:

Accepted Answer

A)  broad product line, customer or geographic segmentation, focused functional capability 
B)  narrow product line, customer or geographic segmentation, focused functional capability, keeping costs down 
C)  narrow product line, customer or geographic segmentation, focused production capability 
D)  small profit margin, customer or geographic segmentation, focused functional capability 
A)  broad product line, customer or geographic segmentation, focused functional capability 
B)  narrow product line, customer or geographic segmentation, focused functional capability, keeping costs down 
C)  narrow product line, customer or geographic segmentation, focused production capability 
D)  small profit margin, customer or geographic segmentation, focused functional capability

Question 12

The capability versus competitive strength exercise is often based on an assessment of the future position.

Accepted Answer

A) True 
 B)False

Question 13

A key feature of 'stuck in the middle' organisations is:

Accepted Answer

A)  inability to choose a clear generic strategy 
B)  products which have unique value to customers 
C)  communicating their business strategy to their operating staff 
D)  implementing a set of control systems which are consistent with defined business strategy 
A)  inability to choose a clear generic strategy 
B)  products which have unique value to customers 
C)  communicating their business strategy to their operating staff 
D)  implementing a set of control systems which are consistent with defined business strategy

Question 14

The capability versus comparative strength exercise is often based on:

Accepted Answer

A)  an assessment of current position 
B)  present capability analysis 
C)  both of the above 
D)  none of the above 
A)  an assessment of current position 
B)  present capability analysis 
C)  both of the above 
D)  none of the above

Question 15

The 'focus strategy' is most relevant to small organisations.

Accepted Answer

A) True 
 B)False

Question 16

An important aspect of assessing the performance of the business strategy is to formally identify the expectations from the shareholders.

Accepted Answer

A) True 
 B)False

Question 17

Adding product features is an example of seeking growth in existing product markets.

Accepted Answer

A) True 
 B)False

Question 18

Porter and Kramer suggested four reasons why organisations should address CSR.Which of the following was NOT mentioned by them?

Accepted Answer

A)  moral obligation 
B)  the necessity to maintain a licence to operate 
C)  organisation's reputation 
D)  pressures from customers 
A)  moral obligation 
B)  the necessity to maintain a licence to operate 
C)  organisation's reputation 
D)  pressures from customers

Question 19

Seeking growth is an inappropriate option for poorly performing organisations.

Accepted Answer

A) True 
 B)False

Question 20

Family-owned small businesses do not desire to achieve growth due to many factors excluding:

Accepted Answer

A)  need to delegate authority to non-family member 
B)  taking on responsibility of employing large number of people 
C)  making sufficient profits 
D)  threat of attracting scrutiny of anti-competitive authority such as ACCC 
A)  need to delegate authority to non-family member 
B)  taking on responsibility of employing large number of people 
C)  making sufficient profits 
D)  threat of attracting scrutiny of anti-competitive authority such as ACCC

The two ways that related markets can be developed for existing products are:

A way that closely related product development for existing markets can take place is to:

The risks of differentiation strategy do NOT include:

In order to adopt 'premium pricing' strategy,it is important not to view organisational products and services as 'commodities'.

The set of measures used to compare organisation performance with key competitors is:

The product-market matrix does NOT offer the option of:

'Gap analysis is useless because it only identifies yesterday's "gaps" and tells us nothing about where tomorrow's "gaps" will occur.' Is this a fair criticism? Provide reasons.

Current reported financial performance may simply lull the organisation into a false sense of security.

Which of the following is NOT a key element of 'blue ocean' strategy developed by Kim and Mauborgne?

The risks of a low-cost strategy do NOT include:

A focus strategy can be achieved by competing on the basis of:

The capability versus competitive strength exercise is often based on an assessment of the future position.

A key feature of 'stuck in the middle' organisations is:

The capability versus comparative strength exercise is often based on:

The 'focus strategy' is most relevant to small organisations.

An important aspect of assessing the performance of the business strategy is to formally identify the expectations from the shareholders.

Adding product features is an example of seeking growth in existing product markets.

Porter and Kramer suggested four reasons why organisations should address CSR.Which of the following was NOT mentioned by them?

Seeking growth is an inappropriate option for poorly performing organisations.

Family-owned small businesses do not desire to achieve growth due to many factors excluding:

What is ‘strategy’?

Analysing business strategy: creating value

Analysing the external environment

Analysing the organisation’s resources and capabilities

Measuring strategic organisation performance

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 6: Gap analysis and business-level strategic options

The two ways that related markets can be developed for existing products are:

A way that closely related product development for existing markets can take place is to:

The risks of differentiation strategy do NOT include:

In order to adopt 'premium pricing' strategy,it is important not to view organisational products and services as 'commodities'.

The set of measures used to compare organisation performance with key competitors is:

The product-market matrix does NOT offer the option of:

'Gap analysis is useless because it only identifies yesterday's "gaps" and tells us nothing about where tomorrow's "gaps" will occur.' Is this a fair criticism? Provide reasons.

Current reported financial performance may simply lull the organisation into a false sense of security.

Which of the following is NOT a key element of 'blue ocean' strategy developed by Kim and Mauborgne?

The risks of a low-cost strategy do NOT include:

A focus strategy can be achieved by competing on the basis of:

The capability versus competitive strength exercise is often based on an assessment of the future position.

A key feature of 'stuck in the middle' organisations is:

The capability versus comparative strength exercise is often based on:

The 'focus strategy' is most relevant to small organisations.

An important aspect of assessing the performance of the business strategy is to formally identify the expectations from the shareholders.

Adding product features is an example of seeking growth in existing product markets.

Porter and Kramer suggested four reasons why organisations should address CSR.Which of the following was NOT mentioned by them?

Seeking growth is an inappropriate option for poorly performing organisations.

Family-owned small businesses do not desire to achieve growth due to many factors excluding:

What is ‘strategy’?

Analysing business strategy: creating value

Analysing the external environment

Analysing the organisation’s resources and capabilities

Measuring strategic organisation performance

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