1. There is agreement that the role of strategy is to achieve
_______________________ for an organization.
Correct Answer(s):
a. Competitive advantage
2. To be sustainable, competitive advantage must be difficult for
competitors to _________________.
Correct Answer(s):
a. imitate
3. Strategy involves matching an organization's resources to the
environment. It also involves an understanding of the different
relationships the organization is involved in. These relationships are
made up of:
a. Collaborators
*b. Stakeholders
c. Competitors
d. Shareholders
4. Factors in the general or macro environment include: Please select
all that apply.
a. Competitors
correct
b. Issues that could affect all industries
, *c. Issues that could affect customer demand
d. Supplier relationships
5. The strategic management process involves three main phases. These
are:
a. Strategy analysis, strategy formulation, strategy review
b. Strategy formulation, strategy implementation, strategy review
*c. Strategy analysis, strategy formulation, strategy
implementation
d. Strategy analysis, strategy implementation, strategy review
6. Strategy formulation is a conscious process that is based on the
results of the strategy analysis.
a. True
*b. False
7. When we ask the question 'why does the organization exist', we are
trying to understand the _______________ of the organization.
Correct Answer(s):
a. purpose
8. A vision statement will usually express:
, a. Why the organization exists
*b. The aspirations of the organization
c. What the organization believes
d. The values and purpose of the organization
9. An organization's purpose can be defined as the reason an
organization exists beyond ________________.
Correct Answer(s):
a. Making a profit
10. The 'theory of business' (Drucker 1995) consists of: Please select
all that apply.
*a. An organization's assumptions
*b. An organization's decisions
c. The environmental conditions in which the organization operates
d. The desires of the organization's customers
11. A decision regarding whether to acquire a business in an unrelated
industry would be the concern of:
*a. Corporate level strategy
b. Business level strategy
c. Functional level strategy
, d. Parent level strategy
12. Business level strategy is sometimes known as _________________
strategy.
Correct Answer(s):
a. Competitive
13. Strategy in the 1950s and 1960s was characterized by: Please select
all that apply.
a. Unstable markets
*b. Strategic planning with a long-term view
*c. Stable markets
d. Very little strategic planning
14. The resource-based view of the firm considers competitive advantage
to come from appropriate positioning in a particular industry.
a. True
*b. False
15. The work of Andrews (1971) and Ansoff (1965) is associated with
which approach?
_______________________ for an organization.
Correct Answer(s):
a. Competitive advantage
2. To be sustainable, competitive advantage must be difficult for
competitors to _________________.
Correct Answer(s):
a. imitate
3. Strategy involves matching an organization's resources to the
environment. It also involves an understanding of the different
relationships the organization is involved in. These relationships are
made up of:
a. Collaborators
*b. Stakeholders
c. Competitors
d. Shareholders
4. Factors in the general or macro environment include: Please select
all that apply.
a. Competitors
correct
b. Issues that could affect all industries
, *c. Issues that could affect customer demand
d. Supplier relationships
5. The strategic management process involves three main phases. These
are:
a. Strategy analysis, strategy formulation, strategy review
b. Strategy formulation, strategy implementation, strategy review
*c. Strategy analysis, strategy formulation, strategy
implementation
d. Strategy analysis, strategy implementation, strategy review
6. Strategy formulation is a conscious process that is based on the
results of the strategy analysis.
a. True
*b. False
7. When we ask the question 'why does the organization exist', we are
trying to understand the _______________ of the organization.
Correct Answer(s):
a. purpose
8. A vision statement will usually express:
, a. Why the organization exists
*b. The aspirations of the organization
c. What the organization believes
d. The values and purpose of the organization
9. An organization's purpose can be defined as the reason an
organization exists beyond ________________.
Correct Answer(s):
a. Making a profit
10. The 'theory of business' (Drucker 1995) consists of: Please select
all that apply.
*a. An organization's assumptions
*b. An organization's decisions
c. The environmental conditions in which the organization operates
d. The desires of the organization's customers
11. A decision regarding whether to acquire a business in an unrelated
industry would be the concern of:
*a. Corporate level strategy
b. Business level strategy
c. Functional level strategy
, d. Parent level strategy
12. Business level strategy is sometimes known as _________________
strategy.
Correct Answer(s):
a. Competitive
13. Strategy in the 1950s and 1960s was characterized by: Please select
all that apply.
a. Unstable markets
*b. Strategic planning with a long-term view
*c. Stable markets
d. Very little strategic planning
14. The resource-based view of the firm considers competitive advantage
to come from appropriate positioning in a particular industry.
a. True
*b. False
15. The work of Andrews (1971) and Ansoff (1965) is associated with
which approach?
