strategic management quiz

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A key purpose of a vision and mission statement is to inform _________ what a firm is, what it seeks to accomplish, and who it seeks to serve, a firm's ___ is a statement of a firm's business in which it intends to compete & the customers it intends to serve. compete in the future. Which ratio would be considered an activity ratio? Which of the following is NOT one of the basic ways to pursue this course of action? Quiz Flashcard. PLAY. Which is not a part of international strategy lifecycle? In the “Strategic Capabilities” element of strategic positioning, a good example of causal ambiguity might be …. The legal team at GlenOak Corp. is studying the various state and local regulations that control its industry in order to narrow down the possible sites to those which would be most conducive to success. What term is used for this situation? We'll bring you back here when you are done. All of the C) $6,000 Which of the following is NOT one of the 5Ps of strategy? Match. We weren't able to detect the audio language on your flashcards. Test your understanding of Strategic management concepts with Study.com's quick multiple choice quizzes. The benefit of creating a new entity that is owned separately by the partners involved, The result of managing alliances better than competitors, The benefits of being part of a network of alliances of which an organisation is a member, The aim of two or more organisations in sharing resources and activities to pursue a strategy. Which of Which of the following is NOT a key criteria by which capabilities can be assessed in terms of providing a basis for achieving sustainable competitive advantage? Punctuality, in general, is revered in all cultures of the world. theory about how to gain a competitive advantage defined as creating more economic value than one's competitor. Achieving success through being a “follower”. they result in better organisational performance. In the context of strategic alliances, what is meant by the term 'collaborative advantage'? A Using strategic planning to gain control over decisions and resources. Identification of what 'helps managers to focus on the environmental factors that are most important and which must be addressed most urgently'? 4 months ago. they identify specific areas of strategic interest for the management of an organisation. Question. How are competitors differently affected? A ___ ___ ___ describes: the actions a firm takes to exploit its competitive advantage over rivals. b. Greek. Instead, it is important to step back and identify the: complex links between each of the factors. 16. Garmin & TomTom are well-known brands of stand-alone satellite navigation units for cars. He tried to get the CEO fired, but the board and top management said he breached his boardroom duties when he publicly disclosed information about the CEO search and financial condition of the company. What category of ratios measures a firm’s ability to meet maturing short-term obligations? All of Which of the following is not one of the alternative directions shown on the Ansoff product/market growth matrix? Which of the following terms is used for'an organisation that is loosely coordinatedinternationally, but involves dispersion overseas of variousactivities, with goods and services produced locally in each national market’? Mar. Sciences, Culinary Arts and Personal Using the “Virgin – is the brand more than Richard Branson?” case study, which type of corporate parenting role best describes the Virgin Group? Question 1. One of the primary activities in Porter’s Value Chain is outbound logistics, which involves …. True False. of strategic management is called strategy formulation. 4 months ago. five steps in stakeholder impact analysis: identify stakeholders, identify stakeholders' interests, identify opportunities and threats, identify social responsibilities, address stakeholder concerns, a statement about what an organization ultimately wants to accomplish; it captures the company's aspiration, description of what an organization actually does - the products and services it plans to provide, and the markets in which it will compete, actions that are costly, long-term oriented and difficult to reverse; need to back up vision and missions with this, not goal, but what we anticipate we will need in the future as a core competency to reach our goal, providing solutions to customer needs; more durable, defines a business in terms of a good or service provided, ethical standards and norms that govern the behavior of individuals within a firm or organization, the behaviors and styles of executives that influence others to achieve the organization's vision and mission, concerns questions relating to where to compete (industry, markets, geography), concerns the question of how to compete (cost leadership, differentiation, integration), concerns the question of how to implement business strategy, a rational, top-down process through which management can program future success; typically concentrates strategic intelligence and decision-making responsibilities in the office of the CEO, anticipate possible future states of the world; useful and relevant when time is of the essence in terms of a timely response, develop plan & execute its basic notion; but different industries have different horizons in which you can plan (months vs years), idea that you will need to adjust your plan; cannot know things in advance - must know what the plan is good for but also the limits, a group of companies offering products or services that are close substitutes and that satisfy the same basic customer needs, different customer groups with distinct attributes and specific demands within an industry, political, economic, sociocultural, technological, ecological, legal; can create opportunities and threats, a method to (1) identify an industry's profit potential and (2) derive implications for a firm's strategic position within an industry, strategic profile based on value creation and cost.

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