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<p>Part A: Multiple Choice Questions1. Igor Ansoff conducted extensive research a. management by objective on acquisitions b y American companies b. value chain analysis between 1948 and 1968. He found that c. gap analysis acquisitions based on a rational strategy d. generic strategy analysis fared far better than those that were based on _ ________ ___ ___. 6. Which of the following is not a theory introduced by Michael Po rter? a. strategic intent b. opportunistic decisions a. Generic strategies c. strategic analysis b. Five fo rces model d. strategic choice c. Gap analysis d. Value chain 2. Which of the following goes against Igor Ansoff's strategic success paradigm? 7. Which of the fo llowing is not a generic competitive strategy proposed by Michael a. There is no universal success fo rmula for firms. Porter? b. The level of turbulence in the environment a. Cost leadership determines the strategy req uired for the b. Value chain success of a firm. c. Differentiation c. The aggressiveness of a strategy should be d. Focus aligned with the turb ulence in the enviro nment to optimize a firms success. 8. George Stalk, Philip Evans, and Lawrence E. Schulman proposed four basic d. Internal capability variables -- cognitive, principles of capabilities -based psychological, political, anthropological, competition. Which of the following is not and sociological variables -- do not play one of those principles? any role in a firms success. a. The building blocks of corporate strategy 3. Henry Mintzberg advocated a more are products and markets, and not business humane approach to strategy fo rmulation processes. and implementation. This was called b. Competitive success d epends on _________. transforming a compan ys key processes a. crafting strategy into strategic capabilities that consistently b. drafting strategy provide superior value to the customer. c. designing strategy c. Companies create these capabilities by d. choreographing strategy making strategic investments in a support infrastructure that links together and</p> <p>Peter Druckers significant contribution to 4. transcends traditional Strategic Bu siness business strategy was the introduction of Units (SBUs) and functions. the concept of __________________. d. Because capabilities necessarily cross a. the five forces functions, the champion of a capabilitiesb. management b y objective based strategy is the CEO. c. value chain analysis 9. According to C. K. Prahalad and Gary d. gap analysis Hamel, corporations should view themselves as a portfolio of core 5. Michael Porter proposed the use of competencies rather than as a portfolio of _____________ of an organizations businesses. Fro m the following options, internal processes, and the interactions identify the statements that correctly between different functions, to determine describe this concept of core competence. how and where value could be added.</p> <p>Business Strategy i. A core competence represents the 12. When we speak of strategy as plans for the collective learning in the organization, future, we refer to a/an _____ ________ especially on how to coordinate diverse strategy. When we speak of strategy as production skills and integrate multiple actions taken, we refer to a/an streams of technologies. ___________ strategy. ii. In the long run, an organizations a. realized, emergent competitiveness depends o n its ability to b. emergent, intended build core competencies faster than c. intended, realized competitors and at a lower cost. d. failed, intended iii. A core competence in a company must have the potential to provide access to a 13. At the __ ____________, strategies are d evised in an attempt to exploit the firms variety of markets and make a contribution to preconceived consumer benefits of the distinctive competencies by developing long-term plans for business operations. end product. a. corporate level iv. A core competence must be difficult for a competitor to copy. b. functional level c. business level a. Only i and iii d. none of the above b. Only i, iii, and iv c. Only ii, iii, and iv 14. At which organizational level does the d. i, ii, iii, and iv formulation of a multifunctional strategy for a single industry or product-market 10. _____________ refers to the purpose an area take place? organization strives to achieve. a. Corporate level a. Strategic intent b. Functional level b. Company profile c. Business level c. Strategy d. Board Level d. Policy 15. Of the following, who play an important 11. Gary Hamel and C. K. Prahalad role in the success of products and services popularized the co ncept of competitive and in increasing the market share of strategy as leverage, in the context of a single product/market firms? resource-scarce firm facing a wealthy a. Functional level managers rival. Which of the following is not one b. Corporate level managers of the premises that help us to understand c. Business level managers this concept and its relevance to strategic management? d. a, b, and c a. Great differences do exist between 16. A syndrome in which the senior managers different firms in the market in terms of are collectively deluding themselves ab out</p> <p>the competitive impact they can generate the organizations condition is known as with a given amount of resources. ________. b. Resource constraints are necessarily an a. Vested interest impo rtant impediment to the achievement b. Kidding themselves of glo bal leadership. c. Lack of awareness c. The resource allocation task of management has received too much d. Resistance to change attention as compared to the task of 17. Which of the fo llowing elements of resource leverage. strategic management identifies the d. Leverage-based efficiency gains come strategic factors that may d etermine the primarily fro m raising the numerator in future of a firm? productivity ratios rather than from reducing the deno minator. a. Evaluation and control 4</p> <p>Part A b. Environmental scanning i. Vision is a description of what the organization is trying to do and to become. c. Strategy formulation ii. Mission identifies the scope of the d. Strategy implementatio n companys operations. 18. SWOT analysis is often used in iii. The company profile is determined as an enviro nmental scanning. SWOT is an outcome of internal analysis of the acronym for strengths, weaknesses, company. opportunities, and threats. These are respectively _______, ________, a. Only i and ii ________, and ________ to the b. Only i and iii organization. c. Only ii and iii a. internal, external, internal, external d. i, ii, and iii b. internal, internal, external, external 24. The ______________ of a company sets c. external, external, internal, internal the company apart fro m other companies d. external, internal, external, internal in the same area of business. 19. Defining the company mission, specifying a. vision objectives, and developing strategies are a b. mission part of the ____________ process. c. profile a. enviro nmental scanning d. external environment b. strategy formulation 25. Environmental scanning is a stud y of the c. strategy implementation external environment, focusing on bo th the d. evaluation and co ntrol _________ and the ___ ___ _____ enviro nments. 20. Which of the following options puts strategies and policies into action through a. social, operating programs, budgets, and procedures? b. remote, operating a. Environmental scanning c. social, political b. Strategy formulation d. remote, political c. Strategy implementatio n 26. The ________________ depicts the d. Evaluation and control q uantity and quality of the companys financial, human, and physical resources. 21. The implementation of strategy is typicall y a. vision handled by ____________ , except when b. mission drastic company-wide changes are needed. c. company profile a. midd le level managers</p> <p>d. external environment b. directors c. top level managers 27. A ___________________ is a statement of d. stakeholders means that indicates the methods to be used to achieve the companys overall 22. __________ provides a valuable objectives. opportunity for organizational learning. It a. functional strategy also pinpoints the weaknesses of strategic plans implemented earlier. b. business strategy a. Environmental scanning c. operating strategy b. Strategy formulation d. grand strategy c. Strategy implementatio n 28. Opportunities that are compatib le with the d. Evaluation and control companys mission are identified as desired opportunities. Further choosing 23. Identify the statements that hold true with from the list of desired opportunities regard to strategic components 5</p> <p>Business Strategy results in the identification of poten tial a. Appro priate information for situation options. This process is kno wn as analysis is gathered unsystematically. __________. b. A few feasible alternative strategies are a. strategic analysis developed and the most appropriate strategy is selected. b. strategic choice c. external environment analysis c. It encompasses a proactive search for opportunities but not a reactive solution to d. strategic management existing problems. 29. Which strategy provides a means for d. It helps the company to be better prepared achieving a compan ys annual/short -term for evaluation. objectives? a. Organizational strateg y 34. ____________________ is useful when the environment is changin g rapidly and it b. Business strategy is important to build a consensus befo re c. Operating strategy committing the entire co mpany to a d. Corporate strategy specific strategy. a. Adaptive mode 30. For larger organizations, as the b. Planning made enviro nments become more ___________, c. Entrepreneurial mode decisions become increasingly d. Logical incrementalism ________________ to make. a. certain, complex and difficult 35. Which of the following is not a b. uncertain, simp ler and easy characteristic of strategic decision making? c. uncertain, complex and difficult a. Strategic management integrates various d. certain, multifaceted and easy functions. b. Strategic management considers a broad 31. In the case of the entrepreneurial mode, range of stakeholders. which of the following statements is not c. Strategic management entails a single time correct ? horizo n. a. In this mode, strategies are framed by one d. Strategic management is concerned with powerful individual. both efficiency and effectiven ess. It focuses solely on the organizations b. 36. An organizations ______ ___ __ and opportunities. ___________ act as guidelines for strategy c. Problems associated with strategy formulation. implementation are given top priority. a. objective, vision d. Its dominant goal is the growth of the b.</p> <p>vision, missio n organization. c. vision, goal 32. The ________________ is characterized d. mission, objective by reactive solutions to existing problems. This type of decision-making results in a 37. A well-co nceived vision has two main components -- ___________ and fragmented strategy and incremental __________. improvements. a. ideology, organization purpose a. adaptive mode b. customer needs, plans b. planning mode c. goals, envisioned future c. entrepreneurial mode d. core ideology, envisioned futu re d. logical incrementalism 38. In the case of the vision of a company, 33. In the case of the planning mode, which of which of the following statement is false ? the follo wing statements holds true ? 6</p> <p>Part A a. The vision needs to be specific so that the a. fundamental intention scope for different interpretations is b. view of the future minimized. c. competitive arenas b. The vision needs to be communicated d. source of competitive advantage effectively as a first step to its actual 43. ________ ___ ____ is the creed of the implementation. organization, and reflects the basic beliefs, c. The vision should ignore the concerns of values, and aspirations of the firm. external stakeholders in order to be a. Company mission effective. b. Company philosophy d. The vision of the company should also try c. Company vision to streamline and relate the personal goals d. Company goal of employees with organizational goals to the extent possible. 44. _______________ responsibilities involve the widely-held beliefs about behavior in a 39. A ___________ statement describes the society. product, the market, and the technological a. Econo mic areas of emphasis for the business, and b. Legal forms the firms _______________. c. Ethical a. mission, reason for existence d. Discretionary b. objective, strategy 45. _________________ responsibilities refer c. vision, plan to the purely voluntary obligations that a d. goal, policy corporation assumes, such as philanthropic contributions and training the unemployed. 40. The fundamental assumptions on which a mission statement is b ased include: a. economic b. legal i. the basic type of p roduct or service to be offered. c. ethical ii. the managerial philosophy of the firm. d. discretionary iii. the technology to be used in production or 46. The _________ ____ _ involves factors that delivery. provide many challenges a particular firm iv. the public image sought. faces when attempting to attract or acquire essential resources or when striving to a. Only i, ii, and iii profitably market its goods and services in b. Only i, ii, and iv the immediate competitive situation. c. Only i, iii, and iv a. operating environment d. i, ii, iii, and iv</p> <p>b. remote environment c. economic environment 41. _________________ is a statement of the d. social environment role that a co mpany will seek to adopt and the description of what the company hopes 47. Which of the following is not a factor to accomplish as a means to gauge future coming under the remote environment? success. a. Social a. Fund amental intention b. Political b. View of the future c. Customer c. Competitive arenas d. Econo mical d. Source of co mpetitive advantage 48. The _______________ of an organization 42. The businesses and regions/geographies is constituted by the values, beliefs, attitudes, opinions, and lifestyles in where the company will compete are society. referred to as its ____________________. 7</p> <p>Business Strategy a. economic environment 53. Existing firms in an industry so metimes enjoy advantages that are not available to b. social environment new entrants. These advantages arise from c. political environment the effects of the ________________. d. legal environment a. customer profile 49. The customer profile for an organization is b. economies of scale built based on the information relating to: c. experience curve i. demographic profile d. none of the above ii. geographic profile iii. psychographic profile 54. When switching costs are absent and there is a slowdown in industrial growth, what is iv. buying profile the expected impact on the intensity of a. Only i, ii, and iii rivalry in the industry? b. Only i, ii, and iv a. Intensity of rivalry will increase. c. Only i, iii, and iv b. Intensit...</p>