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Strategic Management
Quiz 12
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Q.1
______ and ______ are outcomes from a study of the external environment
Threats and Weaknesses
Strengths and Weaknesses
Weights and Measures
Opportunities and Threats
Q.2
A question for business level strategy would be
Which industries do we want to be in?
How should the businesses be related?
How should the business compete in its market?
How should resources be shared amongst the businesses?
Q.3
Which of the following is not a way in which organizations can behave more ethically and socially responsibly?
By avoiding discrimination and improving working conditions
By lowering prices to their targeted market, to stimulate demand and increasing profit by increases in productivity to meet customer demands
By ensuring product safety
By avoiding pollution and safely disposing of waste
Q.4
Porter's generic strategies are
Low price, differentiation, focus
Cost leadership, differentiation, cost focus, focus differentiation
Price leadership, differentiation, focus
Low cost, differentiation, focus differentiation
Q.5
Which of these is not a key stakeholder that an organization must seek to satisfy?
Managers
Shareholders
Employees
Customers
Q.6
Which one of the following would not be considered a functional strategy?
Financial
Marketing
Product-market
Operations
Q.7
The two internal elements of SWOT analysis are
weaknesses and threats
opportunities and threats
strength and weaknesses
strengths and threats
Q.8
The term corporate strategy concerns strategy and strategic decisions
In certain types of organization
At all levels in an organization
Developed by the senior management in an organization
In the private sector only
Q.9
Ansoff's growth vector matrix is used for
analyzing the different strategic directions an organization can pursue
analyzing the balance of the portfolio
assessing whether the corporate parent is adding value
assessing the market share of a business
Q.10
Which one of these would not be a problem for an organization attempting to establish a unified vision or direction?
The constraints applied by key stakeholders upon the organizations management
The personal objectives of those within the organization
The varying expectations of external stakeholders
Conflicts between the product and its desired target market
Q.11
Who can be considered as the main stakeholders for London Zoo?
Research groups
Visitors
The government
Private investors
Q.12
In Porter's generic strategies model, a focus strategy involves
selling a limited range of products
selling to a narrow customer segment
selling to one region only
selling simple products that are cheap to produce
Q.13
The pie slices within the circles of a ________ reveal the percent of corporate profits contributed by each division
QSPM
BCG matrix
SPACE matrix
Grand strategy matrix
Q.14
What common, related problem do for non-profit organizations such as the British Museum and the National History Museum often face?
Costs associated with repairs and maintenance
The need to be educational and adhere to their scientific/research orientation whilst addressing commercial issues (e g , admission charges to cover costs)
The need to be educational and adhere to their scientific/research orientation whilst satisfying main stakeholders
The conflict between pursuing organizational objectives and resource availability constraints
Q.15
Which one of the following is of concern for not-for-profit organizations?
The markets to service
Identifying suppliers to deal with
Developing capabilities
Building monopolies
Q.16
Select the statement that best applies to emergent strategies. Emergent strategy...
implies an ability to react to events
implies strategizing
implies no deviation from plans
implies constant evaluation of the bigger picture
Q.17
The impact of strategies on the general direction and basic character of a company is
short range
medium range
long range
minimal
Q.18
Select the most accurate statement. Value
means value for money
is best described as the benefits the business chooses to give to customers through its product/service
is the benefits of a product/service as perceived by the customer
does not offer competitive advantage
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