Operational Strategy Development Exam Questions with Answers.
Strategic Planning - Answers The strategic plan looks at the longer term direction of a company as an
overview of all of its business units.
Five Forces Model - Answers A framework that identifies five forces that determine the profit potential
of an industry and shape a firm's competitive strategy.
Key Performance Indicators - Answers Performance targets that focus on the outputs of an organisation.
Objectives - Answers Specific, short-term statements detailing how to achieve the organization's goals.
SWOT analysis - Answers a planning tool used to analyze an organization's strengths, weaknesses,
opportunities, and threats
Six Thinking Hats - Answers De Bono, 1985, each hat represents a different thinking style that can help
you study situations from different viewpoints, one at a time, to get a more holistic view and more
realistic interpretation - Blue - thinking (big picture), White - information (facts), Red - emotions
(intuitive/gut), Black - Judgement - practical/logical/realistic), Yellow - optimism (benefits/harmony),
Green - creativity (new/innovative)
McKinsey 7-S Framework - Answers Used to analyse the effectiveness in f teams within the organisation,
as well as the impact of change, and looks at Structure, Strategy, Systems, Style, Staff, Skills, Shared
values
Porter's Five Forces - Answers Also known as Industry and Competitive Analysis. A framework
considering the interplay between (1) the intensity of rivalry among existing competitors, (2) the threat
of new entrants, (3) the threat of substitute goods or services, (4) the bargaining power of buyers, and
(5) the bargaining power of suppliers.
Balanced Scorecard - Answers strategy implementation tool that harnesses multiple internal and
external performance metrics in order to balance financial and strategic goals
tactical planning - Answers A set of procedures for translating broad strategic goals and plans into
specific goals and plans that are relevant to a distinct portion of the organization, such as a functional
area like marketing.
operational planning - Answers very specific, short-term planning that applies tactical plans to daily,
weekly, and monthly operations
Operations Management - Answers The management of systems or processes that create goods and/or
provide services
Processes - Answers Processes are defined as a series of interlinked activities or steps that consume
resources to meet a goal or output.
Strategic Planning - Answers The strategic plan looks at the longer term direction of a company as an
overview of all of its business units.
Five Forces Model - Answers A framework that identifies five forces that determine the profit potential
of an industry and shape a firm's competitive strategy.
Key Performance Indicators - Answers Performance targets that focus on the outputs of an organisation.
Objectives - Answers Specific, short-term statements detailing how to achieve the organization's goals.
SWOT analysis - Answers a planning tool used to analyze an organization's strengths, weaknesses,
opportunities, and threats
Six Thinking Hats - Answers De Bono, 1985, each hat represents a different thinking style that can help
you study situations from different viewpoints, one at a time, to get a more holistic view and more
realistic interpretation - Blue - thinking (big picture), White - information (facts), Red - emotions
(intuitive/gut), Black - Judgement - practical/logical/realistic), Yellow - optimism (benefits/harmony),
Green - creativity (new/innovative)
McKinsey 7-S Framework - Answers Used to analyse the effectiveness in f teams within the organisation,
as well as the impact of change, and looks at Structure, Strategy, Systems, Style, Staff, Skills, Shared
values
Porter's Five Forces - Answers Also known as Industry and Competitive Analysis. A framework
considering the interplay between (1) the intensity of rivalry among existing competitors, (2) the threat
of new entrants, (3) the threat of substitute goods or services, (4) the bargaining power of buyers, and
(5) the bargaining power of suppliers.
Balanced Scorecard - Answers strategy implementation tool that harnesses multiple internal and
external performance metrics in order to balance financial and strategic goals
tactical planning - Answers A set of procedures for translating broad strategic goals and plans into
specific goals and plans that are relevant to a distinct portion of the organization, such as a functional
area like marketing.
operational planning - Answers very specific, short-term planning that applies tactical plans to daily,
weekly, and monthly operations
Operations Management - Answers The management of systems or processes that create goods and/or
provide services
Processes - Answers Processes are defined as a series of interlinked activities or steps that consume
resources to meet a goal or output.
