MHR 300 Exam 2026 Questions and
Answers
Strategic positioning - Correct answer-Attempts to achieve sustainable competitive
advantage by preserving what is distinctive about a company by performing
different activities from rivals or similar ones in different ways
3 principles that underlie strategic positioning - Correct answer-1. Strategy is the
creation of a unique and valuable position
2. Strategy requires trade-offs in competing
3.Strategy involves creating a "fit" among activities
3 strategic positioning sources - Correct answer-1. few needs, many customers
2. broad needs, few customers
3. broad needs, many customers
strategic management process - Correct answer-1. mission and vision
2. assess the current reality
3. formulate grand strategy
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,4. implement the strategy
5. maintain strategic control
Mission statement - Correct answer-States the organization's purpose or reason for
being
Vision statement - Correct answer-States the organization's long-term goal
describing what it wants to become (long-term direction and strategic intent)
current reality assessment - Correct answer-looking at where the org stands and
seeing what is working and what could be different so as to maximize efficiency
and effectiveness in achieving the org's mission
current reality assessment tools - Correct answer-1. competitive intelligence
2. environmental scanning
3. forecast
4. benchmarking
5. porter's model for industry analysis
Grand strategy - Correct answer-After the assessment of current reality, explains
how the organization's mission is to be accomplished (ex. growth, stability,
defensive)
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,Strategy formulation - Correct answer-choosing among different strategies and
altering them to best fit the organization's needs
3 common grand strategies - Correct answer-1. growth
2. stability
3. defensive
Strategic control - Correct answer-Consists of monitoring the execution of strategy
and making adjustments, if necessary
Competitive intelligence - Correct answer-Gaining information about one's
competitors' activities so that you can anticipate their moves and react
appropriately in places like investor information, public prints and ads, or other
informal sources
SWOT analysis - Correct answer-Also known as situation analysis, a search for the
strengths, weaknesses, opportunities, and threats affecting an organization
Environmental scanning - Correct answer-Careful monitoring of an organization's
internal and external environments to detect early signs of opportunities and threats
that may influence the firm's plans--i.e., conducting a SWOT analysis
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, Organizational strengths - Correct answer-The skills and capabilities that give the
organization special competencies and competitive advantages in executing
strategies in pursuit of its vision
Organizational weaknesses - Correct answer-The drawbacks that hinder an
organization in executing strategies in pursuit of its vision
Organizational opportunities - Correct answer-Environmental factors that the
organization may exploit for competitive advantage
Organizational threats - Correct answer-Environmental factors that hinder an
organization's achieving a competitive advantage
Forecast - Correct answer-A vision or projection of the future thru (1) trend
analysis or (2) contingency planning
Trend analysis - Correct answer-A hypothetical extension of a past series of events
into the future
Contingency planning - Correct answer-the creation of alternative hypothetical but
equally likely future conditions
Benchmarking - Correct answer-A process by which a company compares its
performance with that of high-performing organizations
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Answers
Strategic positioning - Correct answer-Attempts to achieve sustainable competitive
advantage by preserving what is distinctive about a company by performing
different activities from rivals or similar ones in different ways
3 principles that underlie strategic positioning - Correct answer-1. Strategy is the
creation of a unique and valuable position
2. Strategy requires trade-offs in competing
3.Strategy involves creating a "fit" among activities
3 strategic positioning sources - Correct answer-1. few needs, many customers
2. broad needs, few customers
3. broad needs, many customers
strategic management process - Correct answer-1. mission and vision
2. assess the current reality
3. formulate grand strategy
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,4. implement the strategy
5. maintain strategic control
Mission statement - Correct answer-States the organization's purpose or reason for
being
Vision statement - Correct answer-States the organization's long-term goal
describing what it wants to become (long-term direction and strategic intent)
current reality assessment - Correct answer-looking at where the org stands and
seeing what is working and what could be different so as to maximize efficiency
and effectiveness in achieving the org's mission
current reality assessment tools - Correct answer-1. competitive intelligence
2. environmental scanning
3. forecast
4. benchmarking
5. porter's model for industry analysis
Grand strategy - Correct answer-After the assessment of current reality, explains
how the organization's mission is to be accomplished (ex. growth, stability,
defensive)
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
,Strategy formulation - Correct answer-choosing among different strategies and
altering them to best fit the organization's needs
3 common grand strategies - Correct answer-1. growth
2. stability
3. defensive
Strategic control - Correct answer-Consists of monitoring the execution of strategy
and making adjustments, if necessary
Competitive intelligence - Correct answer-Gaining information about one's
competitors' activities so that you can anticipate their moves and react
appropriately in places like investor information, public prints and ads, or other
informal sources
SWOT analysis - Correct answer-Also known as situation analysis, a search for the
strengths, weaknesses, opportunities, and threats affecting an organization
Environmental scanning - Correct answer-Careful monitoring of an organization's
internal and external environments to detect early signs of opportunities and threats
that may influence the firm's plans--i.e., conducting a SWOT analysis
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
, Organizational strengths - Correct answer-The skills and capabilities that give the
organization special competencies and competitive advantages in executing
strategies in pursuit of its vision
Organizational weaknesses - Correct answer-The drawbacks that hinder an
organization in executing strategies in pursuit of its vision
Organizational opportunities - Correct answer-Environmental factors that the
organization may exploit for competitive advantage
Organizational threats - Correct answer-Environmental factors that hinder an
organization's achieving a competitive advantage
Forecast - Correct answer-A vision or projection of the future thru (1) trend
analysis or (2) contingency planning
Trend analysis - Correct answer-A hypothetical extension of a past series of events
into the future
Contingency planning - Correct answer-the creation of alternative hypothetical but
equally likely future conditions
Benchmarking - Correct answer-A process by which a company compares its
performance with that of high-performing organizations
©COPYRIGHT 2025, ALL RIGHTS RESERVED 4
