Donaldson Exam Questions and Answers 100%
Correct
An Effective Strategy Is - ANSWER-A comprehensive and coordinated pattern of
actions, consciously selected in light of
probable shifts in the environment, relative
competencies of the firm and the predictable
moves of intelligent competitors
Not an additional overlay on business
units, it is the blueprint for running the
business!!
5 P's of Strategy - ANSWER-• Plan
• Ploy
• Pattern
• Position
• Perspective
Strategic Planning Process - ANSWER-- Critical evaluation of the external and internal
environment and the relative position of the
entity
- Formulation of strategies based on above
- Implementation of the chosen strategies
- Evaluation of the performance relative to the
plan and control metrics
Basic Process Flow - ANSWER-Environmental Scanning - Strategy Formation -
Strategy Implementation - Evaluation and Control
3 Basic Strategies - ANSWER-1. Organic - Do it yourself
2. Partner - Do it in concert with other(s)
• Outsource
• Partner/Joint Venture/Team
3. Acquire - Buy the capability/resource outright
Intended strategies: - ANSWER-Strategy that an organization hopes to execute
Emergent strategies: - ANSWER-Unplanned strategy that arises in response to
unexpected opportunities and challenges
Realized Strategies - ANSWER-The strategy that an organization actually follows. They
are a product of both intended and realized strategies
, Deliberate Strategy - ANSWER-The parts of the intended strategy that an organization
continues to pursue over time
Non-realized strategy: - ANSWER-The parts of the intended strategy that are
abandoned
Phases of Strategic Management - ANSWER-Phase 1: Basic financial planning
Phase 2: Forecast-based planning
Phase 3: Externally oriented strategic planning
Phase 4: Strategic management
Budget Planning - ANSWER-Typically historically driven
• Short term focus
• Driven by internal needs
• Numbers oriented
• Reactive to external
environment or competition
• Inflexible
• Static allocation of resources -
a budget!
Strategic Planning - ANSWER-• Future driven, long term oriented
• Critically and deeply evaluates the
external world
• Critically reviews the internal
capabilities in light of the external world
• Identifies key, integrating company
issues and priorities
• Refines vision and mission
• Flexible - dynamically allocates
resources
• Opportunity and results oriented
Theory of Business - ANSWER-Synthesize
Strategize
Systemize
Business Theory - ANSWER-Assumptions about the Environment of the
organization (society, markets, customers, technology
- market analysis)
• Assumptions about the Mission of the organization
(why do we exist? What are we paid to do?)
• Assumptions about the Core Competencies needed
by the organization (Where must we be excellent?)
Correct
An Effective Strategy Is - ANSWER-A comprehensive and coordinated pattern of
actions, consciously selected in light of
probable shifts in the environment, relative
competencies of the firm and the predictable
moves of intelligent competitors
Not an additional overlay on business
units, it is the blueprint for running the
business!!
5 P's of Strategy - ANSWER-• Plan
• Ploy
• Pattern
• Position
• Perspective
Strategic Planning Process - ANSWER-- Critical evaluation of the external and internal
environment and the relative position of the
entity
- Formulation of strategies based on above
- Implementation of the chosen strategies
- Evaluation of the performance relative to the
plan and control metrics
Basic Process Flow - ANSWER-Environmental Scanning - Strategy Formation -
Strategy Implementation - Evaluation and Control
3 Basic Strategies - ANSWER-1. Organic - Do it yourself
2. Partner - Do it in concert with other(s)
• Outsource
• Partner/Joint Venture/Team
3. Acquire - Buy the capability/resource outright
Intended strategies: - ANSWER-Strategy that an organization hopes to execute
Emergent strategies: - ANSWER-Unplanned strategy that arises in response to
unexpected opportunities and challenges
Realized Strategies - ANSWER-The strategy that an organization actually follows. They
are a product of both intended and realized strategies
, Deliberate Strategy - ANSWER-The parts of the intended strategy that an organization
continues to pursue over time
Non-realized strategy: - ANSWER-The parts of the intended strategy that are
abandoned
Phases of Strategic Management - ANSWER-Phase 1: Basic financial planning
Phase 2: Forecast-based planning
Phase 3: Externally oriented strategic planning
Phase 4: Strategic management
Budget Planning - ANSWER-Typically historically driven
• Short term focus
• Driven by internal needs
• Numbers oriented
• Reactive to external
environment or competition
• Inflexible
• Static allocation of resources -
a budget!
Strategic Planning - ANSWER-• Future driven, long term oriented
• Critically and deeply evaluates the
external world
• Critically reviews the internal
capabilities in light of the external world
• Identifies key, integrating company
issues and priorities
• Refines vision and mission
• Flexible - dynamically allocates
resources
• Opportunity and results oriented
Theory of Business - ANSWER-Synthesize
Strategize
Systemize
Business Theory - ANSWER-Assumptions about the Environment of the
organization (society, markets, customers, technology
- market analysis)
• Assumptions about the Mission of the organization
(why do we exist? What are we paid to do?)
• Assumptions about the Core Competencies needed
by the organization (Where must we be excellent?)
