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Strategic Management

Showing 1-75 of 138 answers

___________ i
  • Target Market Correct
________________ is used when a company faces significant cost
  • Transnational Strategy Correct
_____________________is where you buy the land, build the
  • Greenfield Investment Correct
________________is used when a company is primarily focused on its
  • Export Strategy Correct
_____________customizes products or processes to the
  • Multi-domestic Strategy Correct
____________is used when a company treats the whole
  • Standardization strategy Correct
A policy is what is, or what is not done. While a strategy is themethodology used to achieve a target as prescribed by a policy.
  • TRUE Correct
A statement, that provides a perspective of the means, which will lead theorganization, reach the vision in the long run.
  • Strategic Intent Correct
A vision statement answers the question.
  • What do we want to become? Correct
According to , strategy is organisation‘s pattern of response to its environment over a period of time to achieve its goals and mission.”
  • Igor Ansoff Correct
According toMarkides (1999), a strategic position represents a company’s answers to three
  • How thecompany can do this at the lowest cost Correct
Accordingto Porter (1996) in his article “What is strategy?”, strategy is about being
  • Different Correct
An organization’s external environment consistsof the general or macro environment and:
  • Thecompetitive environment Correct
Anything that a firm does especially well compared to rival firms is referred to as?
  • Competitive advantage Correct
Because of their low market share these businesses are often expected to
  • Dogs Correct
Both an Art and science of formulating, implementing, and evaluating,cross-functional decisions that facilitate an organization to accomplish itsobjectives.
  • Strategic management Correct
Comes from the Greek word "strategos", which refers to a military general.
  • Strategy Correct
Competitive strategy is also known as:
  • Competitive positioning Correct
Creating competitive advantage through effective management of the strategy-making process.
  • Strategic Leadership Correct
deals with acquisition of resources with which organizational goalscan be achieved.
  • Business Policy Correct
Decisions regarding which industries tocompete in are the concern of:
  • Industry strategy Correct
Demographic and psychographic factors are the primary indicators considered
  • TRUE Correct
Drucker refersto an organization’s assumption about its environment and its strength and
  • Theory of business Correct
Employees without are worthless resources to the organization.
  • Skills Correct
Enumerate the Porter's Five Forces.
  • Competition in the Industry, Potential of New Entrants into an Industry, Power of Suppliers, Power of Customers, Threat of Substitutes Correct
Feedback plays a very important role in the evaluation stage, providing the strategists
  • TRUE Correct
Goals are the end results that the organization attempts to achieve.
  • TRUE Correct
Have a potential to be stars if successfully developed.
  • Question Mark Correct
He defines strategy as a creation of a uniqueand valued position involving a different activity from rivals or performssimilar activities in different ways.
  • Micheal Porter Correct
If you have a particularly interesting and unique product or service
  • Piggybacking Correct
Igor Chandler is the Father of Strategic Management.
  • FALSE Correct
Implementing strategy means mobilizing employees and managers to put formulated
  • TRUE Correct
In the Directional Policy Matrix, the horizontal axis is defined as.
  • Competitive Strength Correct
In the Directional Policy Matrix, the vertical axis is defined as.
  • Market Attractiveness Correct
is as significant as because it throwslight on the efficiency and effectiveness of the comprehensive plans in achievingthe desired results.
  • Strategy Evaluation Correct
It allows fewer resources and less time to be devoted to correcting erroneous or ad hoc decisions.
  • It allows fewer resources and less time to be devoted to correcting erroneous or ad hoc decisions. Correct
It allows fewer resources and less time to be devoted to ing erroneous or ad hoc decisions
  • It allows fewer resources and less time to be devoted to ing erroneous or ad hoc decisions Correct
It can be defined as a group of techniques that
  • Corporate portfolio analysis Correct
It describe what an organization excels at and
  • Strengths Correct
It focuses on providing a product or service that is
  • Differentiation Strategy Correct
It has vital role in businesses by indicating current and
  • Environmental Analysis Correct
It implies the process of critically examining the factors
  • Scanning Correct
It is a method or plan chosen to bring about a desired future, such as achievement of a goal or a solution to a problem.
  • Strategy Correct
It is a model that identifies and analyzes five competitive
  • Porter's Five Forces Correct
It is a relatively sophisticated arrangement where a firm transfers
  • Licensing Correct
It is a strategy which focuses on reducing the costs involved
  • Cost Leadership Correct
It is a tool that can be used to determine what priorities
  • BGC Matrix Correct
It is an economic term describing the existence of high
  • Barriers to Entry Correct
It is an involved, intricate, and complex process that takes an organization into uncharted territory.
  • Strategic Planning Correct
It is an objective that seeks to attain in reality.
  • Operative objective Correct
It is described as the "Long-term Market or Competitive Position"
  • Sense of direction Correct
It is designed to help potential shareholders and investors understandthe purpose of the company.
  • Mission Statement Correct
It is the 1+1=3
  • Joint Ventures Correct
It is the areas in the business that needs to improve to remain
  • Weaknesses Correct
It is the degree to which the company is able to use the same
  • Global Integration Correct
It is the dream of the business and an inspiration, base for theplanning process.
  • Vision Correct
It is the f
  • SWOT analysis Correct
It is the framework used to evaluate a company's competitive position and todevelop strategic planning.
  • SWOT analysis Correct
It is the methodical evaluation of the key
  • Internal Analysis Correct
It is time-based measurable actions, which help in theaccomplishment of goals.
  • Objectives Correct
It means the ratio of the business’s market
  • Relative competitive position Correct
It must be visible to everyone, and clearly identifyhow the departments, divisions, units and sections are organized, with the linesof authority and accountability clearly established.
  • Structure Correct
It refers to factors that have the potential to harm an
  • Threats Correct
It refers to favorable external factors that could give
  • Opportunities Correct
It refers to selling directly into the market you have chosen using
  • Direct Exporting Correct
It refers to the actions that managers have to take or do in order to
  • Strategy Correct
It refers to the projected rate of sales growth for the
  • Market growth rate Correct
It represents what the organization must achieve in order for it to
  • Strategic Objectives Correct
It seeks to explain the business undertaken by the firm, with respect tothe customer needs, target audience, and alternative technologies.
  • Business Definition Correct
It states that Strategic Intent is differentiated because here in this case the employees are allied and they are convinced about the concept of Strategic Intent.
  • Sense of discovery Correct
It states that, there should be a clear indication and guide on how the main activities oroperations of the business are carried out.
  • Systems Correct
Itis generally agreed that the role of strategy is to:
  • Achieve competitive advantage Correct
Johnson and Scholes three ways in strategies selection.
  • Selection against objectives, Referral to a higher authority, Partial Implementation Correct
Kay (1993)sees the strategy of an organization as matching capabilities with:
  • Theindustry life cycle Correct
Need very little capital expenditure but return high levels of cash income. Can be used to finance the stars.
  • Cash cow Correct
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