BUSI 601: ADVANCED BUSINESS STRATEGY
◍ The key tools used by management accountants to implement strategy
include: Answer: SWOT analysis and Value Chain analysis
◍ True or false: in most cases, the development of a strategy is followed
directly by success Answer: false
◍ Match each phrase on the left with the appropriate concept on the
right Answer: strengths and weaknesses - identified by looking inside
the firm
opportunities and threats - identified by looking external to the
organization
◍ Critical Success Factors are sometimes called _________________
______________ Answer: value propositions
◍ Which of the following statements is false:
-suppliers can be a threat for a firm.
-Demographic Changes could produce significant advantages or
disadvantages for a firm
-technological changes can sometimes be unfavorable for a company.
-opportunities and threats are most easily identified by analyzing both
the industry and the firm itself. Answer: Opportunities and threats are
most easily identified by analyzing both the industry and the firm itself.
(this is done by analyzing the competitors of the firm)
, ◍ For a cost leadership firm, a competitive strategy requires: Answer:
intense supervision of labor
process engineering skills
tight cost control
◍ The __________ phase of the value chain includes product
development and linkage with suppliers while the _______________
phase refers to linkages with customers. Answer: upstream and
downstream p. 39
◍ To effectively implement the balanced scorecard: Answer: strong
support of top management is needed.
it must be understood and accepted by employees.
p. 43
◍ Environmental measures that are used in sustainability reporting are
often provided by: Answer: The World Resources Institute p.48
◍ The actions that firms in an industry must perform in the process of
designing, manufacturing, and providing customer service are called
__________________ ________________ Answer: value activities p.39
◍ Independent verification of the validity of sustainability measures is
provided by: Answer: B Lab p.49
◍ The key tools used by management accountants to implement strategy
include: Answer: SWOT analysis and Value Chain analysis
◍ True or false: in most cases, the development of a strategy is followed
directly by success Answer: false
◍ Match each phrase on the left with the appropriate concept on the
right Answer: strengths and weaknesses - identified by looking inside
the firm
opportunities and threats - identified by looking external to the
organization
◍ Critical Success Factors are sometimes called _________________
______________ Answer: value propositions
◍ Which of the following statements is false:
-suppliers can be a threat for a firm.
-Demographic Changes could produce significant advantages or
disadvantages for a firm
-technological changes can sometimes be unfavorable for a company.
-opportunities and threats are most easily identified by analyzing both
the industry and the firm itself. Answer: Opportunities and threats are
most easily identified by analyzing both the industry and the firm itself.
(this is done by analyzing the competitors of the firm)
, ◍ For a cost leadership firm, a competitive strategy requires: Answer:
intense supervision of labor
process engineering skills
tight cost control
◍ The __________ phase of the value chain includes product
development and linkage with suppliers while the _______________
phase refers to linkages with customers. Answer: upstream and
downstream p. 39
◍ To effectively implement the balanced scorecard: Answer: strong
support of top management is needed.
it must be understood and accepted by employees.
p. 43
◍ Environmental measures that are used in sustainability reporting are
often provided by: Answer: The World Resources Institute p.48
◍ The actions that firms in an industry must perform in the process of
designing, manufacturing, and providing customer service are called
__________________ ________________ Answer: value activities p.39
◍ Independent verification of the validity of sustainability measures is
provided by: Answer: B Lab p.49
