Deck 5: Strategic Thinking

Question 1

Strategic challenges occur at three levels, the: (fill in)

Answer 1

a. Organizational
b. Work group
c. Individual.

Question 2

SWOT stands for: (fill in)

Answer 2

a. Strengths, weaknesses, opportunities, and threats.

Question 3

A "strategic issue" is any issue that: (fill in)

Answer 3

a. Contributes to the development and maintenance of a competitive advantage.

Question 4

Any business can grow by expanding into:

A) New products b. New customers
C) Old product/old customer market share
D) New products and new customers
E) All of the above
F) None of the above.

Question 5

Porter's Five Forces are: (fill in)

Question 6

A competitive advantage has three characteristics: (fill in)

Question 7

A value chain is:

A) A piece of jewelry
B) An expensive chain
C) List of the steps in the movement of any product or service to end user
D) Letters circulated to important friends.

Question 8

There are two basic kinds of strategic thinking: (fill in)