Deck 4: Strategy With an Environmental Lens

Question 1

Strategic analysis of external conditions is valuable because leaders:

A)Effectively use the Value Net and Porter's 5 Forces frameworks.
B)Create organizational purpose and unify members is pursuing that purpose.
C)More fully understand the industry structure and competitive dynamics.
D)Achieve operational excellence in individual functions and activities.

Answer 1

C

Question 2

Any effort to minimize the negative environmental impact of a firm's products or conduct:

A)Corporate responsibility
B)Environmental management
C)Functional strategy
D)Operational effectiveness

Answer 2

B

Question 3

To identify a firm's strategy:

A)Research executive statements and news articles.
B)Analyze past decisions the company has taken.
C)Read mission, values, and vision statements.
D)All of the above.

Answer 3

D

Question 4

Which of the following is not an impact of a firm or industry's age and location on strategy:

A)Ease of gathering information about competitors and macro-environment.
B)Level of uncertainty within the organization or industry
C)Consideration of unique institutional arrangements in international markets.
D)Focus on process improvements rather than new product development.

Question 5

The means for obtaining unusual returns compared to competitors is a(n):

A)Return on Investment
B)Operational Effectiveness
C)Functional Strategy
D)Competitive Advantage

Question 6

Corporate strategy can be best described by:

A)Positioning and activities for LOB in single industry or market.
B)Focused on multiple LOB, defining various markets and coordination.
C)Coordination and motivation of economic activity to achieve goals.
D)Essence of a company's existence that is strongly correlated to success.

Question 7

Firms can develop strategies with input from:

A)Objective data
B)Economic efficiencies
C)Stakeholder perceptions
D)All of the above

Question 8

Strategic thinking involves a(n):

A)Allocation of company resources and investments
B)Creation and implementation of strategic goals
C)Guided process to analyze past and current situation
D)Focused procedure to identify competitive opportunities

Question 9

Effective strategies can be described as all of the following except:

A)Agreed upon by board of directors
B)Clear focus and direction
C)Informed through external analysis
D)Able to be implemented

Question 10

Which of the following is TRUE:

A)Strategic process guarantees competitive success.
B)Firms should focus on competition rather than cooperation.
C)All firms have a strategy whether they realize it or not.
D)Internal analysis is more important than external analysis.