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AMA University Answers
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Strategic Management

Showing 1-75 of 139 answers

___________ i
  • Target Market Correct
278
________________ is used when a company faces significant cost
  • Transnational Strategy Correct
218
_____________________is where you buy the land, build the
  • Greenfield Investment Correct
217
________________is used when a company is primarily focused on its
  • Export Strategy Correct
312
_____________customizes products or processes to the
  • Multi-domestic Strategy Correct
219
____________is used when a company treats the whole
  • Standardization strategy Correct
178
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
229
A statement, that provides a perspective of the means, which will lead theorganization, reach the vision in the long run.
  • Strategic Intent Correct
198
A vision statement answers the question.
  • What do we want to become? Correct
251
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
310
According toMarkides (1999), a strategic position represents a company’s answers to three
  • How thecompany can do this at the lowest cost Correct
234
Accordingto Porter (1996) in his article “What is strategy?”, strategy is about being
  • Different Correct
105
An organization’s external environment consistsof the general or macro environment and:
  • Thecompetitive environment Correct
196
Anything that a firm does especially well compared to rival firms is referred to as?
  • Competitive advantage Correct
119
Because of their low market share these businesses are often expected to
  • Dogs Correct
233
Both an Art and science of formulating, implementing, and evaluating,cross-functional decisions that facilitate an organization to accomplish itsobjectives.
  • Strategic management Correct
64
Comes from the Greek word "strategos", which refers to a military general.
  • Strategy Correct
58
Competitive strategy is also known as:
  • Competitive positioning Correct
174
Creating competitive advantage through effective management of the strategy-making process.
  • Strategic Leadership Correct
208
deals with acquisition of resources with which organizational goalscan be achieved.
  • Business Policy Correct
193
Decisions regarding which industries tocompete in are the concern of:
  • Industry strategy Correct
195
Demographic and psychographic factors are the primary indicators considered
  • TRUE Correct
232
Drucker refersto an organization’s assumption about its environment and its strength and
  • Theory of business Correct
271
Employees without are worthless resources to the organization.
  • Skills Correct
193
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
159
Feedback plays a very important role in the evaluation stage, providing the strategists
  • TRUE Correct
168
Goals are the end results that the organization attempts to achieve.
  • TRUE Correct
169
Have a potential to be stars if successfully developed.
  • Question Mark Correct
104
2
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
248
If you have a particularly interesting and unique product or service
  • Piggybacking Correct
86
Igor Chandler is the Father of Strategic Management.
  • FALSE Correct
181
Implementing strategy means mobilizing employees and managers to put formulated
  • TRUE Correct
94
In the Directional Policy Matrix, the horizontal axis is defined as.
  • Competitive Strength Correct
215
In the Directional Policy Matrix, the vertical axis is defined as.
  • Market Attractiveness Correct
203
is as significant as because it throwslight on the efficiency and effectiveness of the comprehensive plans in achievingthe desired results.
  • Strategy Evaluation Correct
216
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
236
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
1
It can be defined as a group of techniques that
  • Corporate portfolio analysis Correct
202
It describe what an organization excels at and
  • Strengths Correct
298
It focuses on providing a product or service that is
  • Differentiation Strategy Correct
70
It has vital role in businesses by indicating current and
  • Environmental Analysis Correct
217
It implies the process of critically examining the factors
  • Scanning Correct
223
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
175
It is a model that identifies and analyzes five competitive
  • Porter's Five Forces Correct
244
It is a relatively sophisticated arrangement where a firm transfers
  • Licensing Correct
194
It is a strategy which focuses on reducing the costs involved
  • Cost Leadership Correct
32
It is a tool that can be used to determine what priorities
  • BGC Matrix Correct
176
It is an economic term describing the existence of high
  • Barriers to Entry Correct
190
It is an involved, intricate, and complex process that takes an organization into uncharted territory.
  • Strategic Planning Correct
192
It is an objective that seeks to attain in reality.
  • Operative objective Correct
70
It is described as the "Long-term Market or Competitive Position"
  • Sense of direction Correct
157
It is designed to help potential shareholders and investors understandthe purpose of the company.
  • Mission Statement Correct
120
It is the 1+1=3
  • Joint Ventures Correct
109
It is the areas in the business that needs to improve to remain
  • Weaknesses Correct
291
It is the degree to which the company is able to use the same
  • Global Integration Correct
139
It is the dream of the business and an inspiration, base for theplanning process.
  • Vision Correct
230
It is the f
  • SWOT analysis Correct
210
It is the framework used to evaluate a company's competitive position and todevelop strategic planning.
  • SWOT analysis Correct
184
It is the methodical evaluation of the key
  • Internal Analysis Correct
191
It is time-based measurable actions, which help in theaccomplishment of goals.
  • Objectives Correct
51
It means the ratio of the business’s market
  • Relative competitive position Correct
179
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
171
It refers to factors that have the potential to harm an
  • Threats Correct
142
It refers to favorable external factors that could give
  • Opportunities Correct
144
It refers to selling directly into the market you have chosen using
  • Direct Exporting Correct
325
It refers to the actions that managers have to take or do in order to
  • Strategy Correct
262
It refers to the projected rate of sales growth for the
  • Market growth rate Correct
150
It represents what the organization must achieve in order for it to
  • Strategic Objectives Correct
227
It seeks to explain the business undertaken by the firm, with respect tothe customer needs, target audience, and alternative technologies.
  • Business Definition Correct
163
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
119
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
169
Itis generally agreed that the role of strategy is to:
  • Achieve competitive advantage Correct
256
Johnson and Scholes three ways in strategies selection.
  • Selection against objectives, Referral to a higher authority, Partial Implementation Correct
267
1
Kay (1993)sees the strategy of an organization as matching capabilities with:
  • Theindustry life cycle Correct
240
Need very little capital expenditure but return high levels of cash income. Can be used to finance the stars.
  • Cash cow Correct
248
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