In strategic thinking, how long is the long term, approximately?

 *
1/1
1 month to 1 year
2 year to 3 year
3 year to 5 year
More than 5 years
 
 
Low cost, Differentiation and Focus are examples of *
1/1
Corporate strategies
Operational strategies
Business strategies
 
Functional strategies

 
Starbucks Coffee has recently begun selling and playing compilation CDs and is
supporting its own XM satellite radio station. This represents which strategy for
growth? *
1/1
product development
market development
market penetration
diversification
 
 
A _______ may be defined as a business venture in which two or more
independent companies join together, contribute to equity capital in equal or
agreed on proportion, and establish a new company. *
1/1
Strategic alliance
Joint venture
 
Merger
Acquisitions

 
____________is the unique capability that helps an organization in capitalizing
upon a particular opportunity. *
1/1
Core Competence
Distinctive competence
 
Strategic competence
Threshold competence

 
Which of the following is correct statement? *
1/1
Primarily, strategy formulation is an operational process and strategy implementation is an
intellectual process.
An organization’s culture is always an obstacle to successful strategy implementation.
Resistance to change is an impediment in building of strategic supportive corporate culture.
 
A corporate culture is always identical in all the organizations.

 
VUCA stands for _________________ *
0/1
Volatility, Uncertainty, Combination, and Ambiguity
Volatility, Unknown, Complexity and Ambiguity
 
Volatility, Uncertainty, Complexity and Ambiguity
Variety, Uncertainty, Complexity and Ambiguity

Correct answer
Volatility, Uncertainty, Complexity and Ambiguity

 
The global-local dilemma in International strategy means : *
1/1
The issues related to globalisation and the alleged disadvantaging of developing countries.
How many local people to employ in foreign subsidiaries
Whether to centralise strategic decisions in head office or to devote decision making to
subsidiaries
The extent to which products and services may be standardised across national boundaries or
need to be adapted to meet the requirements of specific national markets.
 
 
In __________ strategy, firm try to achieve a high level of local responsiveness by
making their product or service offering to the requirement of the countries they
operate *
1/1
Global
Multidomestic
 
International
Transnational
 
In __________ Strategy assumptions are made that consumers needs are similar
worldwide *
1/1
Global
 
Multidomestic
International
Transnational

 
When an Automobile company takeovers its rival Automobile company it is called
as __________ *
0/1
Vertical Integration
 
Horizontal Integration
Focused Integration
Backward Integration

Correct answer
Horizontal Integration

 
____________ Strategy claims that Blue Ocean strategy cannot guarantee the
business success in the long run since the blue ocean strategy will finally turn
Red *
1/1
red ocean
blue ocean
Purple ocean
 
Blend ocean

 
Blue-ocean thinking focus on *
1/1
Creating services and products for which they are no direct peers
 
Creating services and products in a competitive market
Following the leaders
None of the above

 
An organization can take up market penetration when *
0/1
current markets are saturated
the market share of major competitors is increasing
 
the usage rate of present customers cannot be increased
current markets are not saturated

Correct answer
current markets are not saturated

 
Laptop manufacturer gets into processors business is an example of *
0/1
forward vertical integration
horizontal integration
 
parallel integration
backward vertical integration

Correct answer
backward vertical integration

 
Competitive Rivalry will be high if *
0/1
There is little differentiation between the products
Competitors are approximately the same size of
neither A nor B
 
both A and B

Correct answer
both A and B

 
Market penetration helps for *
1/1
increasing infrastructure
increasing prices
increasing competition
increasing market share
 
 
Market development involves *
1/1
diversification
backward integration
broadening factory premises
introducing present products or services into new geographic areas
 
 
Beginning from US markets, Amazon reached across many countries in the world
is an example of *
1/1
diversification
backward integration
broadening factory premises
Market development
 
 
Fragmented industries are where *
1/1
few firms exist
monopoly of single firm
are concentrate din one location only
no firm has significant market share
 
 
A ________ may be defined as a business venture in which two or more
independent companies join together, contribute to equity capital in equal or
agreed on proportion, and establish a new company. *
1/1
Strategic alliance
Joint venture
 
Merger
Acquisitions

 
Various competencies and resources of an organization can be integrated into a
chain of activities that an organization performs to meet customer demand. This is
called _____________ *
0/1
value chain
product life cycle
innovation
 
business process

Correct answer
value chain

 
___________ refers to a process when a company compares itself with the
competitors inside its industry *
0/1
Functional analysis
Competitive analysis
Generic analysis
Strategic analysis
 
Correct answer
Competitive analysis

 
Transformational change in an organization refers to -…………. *
0/1
Complete change in almost all aspects of the organization
Incremental change in which necessary improvements are made in the existing organization
 
No change in any aspect of the organization
None of the above

Correct answer
Complete change in almost all aspects of the organization

 
An important activity in ……….. is taking corrective action *
0/1
Strategy evaluation
Strategy implementation
Strategy formulation
Strategy leadership
 
Correct answer
Strategy evaluation

 
Part of ------------------------ is perceived and associated with people’s inability to
understand what is going on. *
0/1
Volatility
Uncertainty
Complexity
Ambiguity
 
Correct answer
Uncertainty

 
A film company and a music recording company may choose to combine , believing
that the result will be more effective than the sum of two component parts, What
term is used for the benefits ? *
0/1
Synergy
Diversification
Integration
Consolidation
 
Correct answer
Synergy

 
Which one of the following best explains the aim of collaboration ? *
0/1
To achieve advantage
To avoid competition
Neither to achieve advantage nor to avoid competition
 
To achieve advantage & avoid competition

Correct answer
To achieve advantage & avoid competition

 
Which of the following is least likely to be an important element in a turnaround
strategy ? *
0/1
Crisis stabilisation
Focusing on long-term cost cutting
Gaining stake holder support
Financial restructuring
 
Correct answer
Focusing on long-term cost cutting

 
A Joint Venture can be defined as *
0/1
Two firms collaborate together on a specific project
 
One firm licenses its intellectual property to another firm
Two firms merge together
Two firms come together to form a third, legally separate firm

Correct answer
Two firms come together to form a third, legally separate firm

 
Who developed the concept of Core Competencies *
1/1
Pralhad and Andrews
Andrews and Hamel
Pralhad and Hamel
 
Pralhad, Andrews and Hamel

 
The VRIN Framework later which was identified as VRIO framework. The VRIN
stands for *
1/1
valuable, resources which are costly to imitate and non-substitutable
valuable, rare, costly to imitate and non-substitutable
valuable, rare, costly to inbuilt and non-substitutable
 
Valuable can’t rebuilt can be imitated and not sustainable

 
----------------- Strategy can be used for deciding a floating strategy in between Red
and the Blue Ocean *
0/1
red ocean
blue ocean
 
Purple ocean
Green ocean

Correct answer
Purple ocean

 
----------------- Strategy claims that Blue Ocean strategy cannot guarantee the
business success in the long run since the blue ocean strategy will finally turn
Red *
1/1
red ocean
blue ocean
Purple ocean
 
Blend ocean

 
What metaphor is used to describe the competitive space where products are not
yet well defined, competitors are not structured and the market is relatively
unknown? *
0/1
red ocean
red sea
blue lagoon
 
blue ocean

Correct answer
blue ocean

 
Nintendo attempts to create a ______________ by offering a unique gaming
experience and keeping the cost of its system lower than Sony’s and Microsoft’s *
0/1
red ocean
blue ocean
competitive triangle
diamond chasm
 
Correct answer
blue ocean

 
In the concept of red ocean thinking, *
0/1
Firms aggressively compete with each other on basis of incremental improvement in quality
Firms aggressively compete with each other on basis of incremental improvement in cost
 
Firms aggressively compete with each other on basis of incremental improvement in quality,
cost or both
Firms don't compete with each other

Correct answer
Firms aggressively compete with each other on basis of incremental improvement in quality,
cost or both

 
Walmart Strategy for low pricing is *
0/1
focused
Value
 
cost competition
Cost leadership

Correct answer
Cost leadership

 
Differentiation is about *
0/1
low quality
 
ignoring customer services
copying competitors design and packaging
High quality and distinctive products

Correct answer
copying competitors design and packaging

 
When present distributors or retailers have high profit margins, an organization may
get into *
0/1
backward vertical integration
horizontal integration
 
parallel integration
forward vertical integration

Correct answer
backward vertical integration

 
In company’s environment, company’s customers are part of which of the
following. *
0/1
Internal environment
Micro environment
Macro environment
external environment
 
Correct answer
Micro environment

 
non-profit organization markets
···/1
a product or service
 
luxury
jewelry
the work it does or the cause it supports
Other:

No correct answers

 
_______________ should be market oriented and defined in terms of
______________. *
0/1
Annual plans; product needs
 
Strategic plans; company needs
Long-range plans; company needs
Mission statements; customers' needs

Correct answer
Mission statements; customers' needs

 
Revlon has clearly defined its "mission" of selling lifestyle and self-expression. In
order for the firm to launch its strategic plan, the mission needs to next be turned
into detailed ___________ that guide each level of the company.
0/1
Sets of strategies
sets of tactics
product mixes
 
supporting objectives

Correct answer
supporting objectives

 
One of the criteria for strategy selection *
0/1
Feasibility of Management
Feasibility of employees
Feasibility of location
 
Feasibility of the strategy

Correct answer
Feasibility of the strategy

 
………… refers to a process when a company compares itself with the competitors
inside its industry. *
0/1
Functional Benchmarking
 
Competitive benchmarking
Generic Benchmarking
Strategic Benchmarking

Correct answer
Competitive benchmarking

 
defense strategy is for *
0/1
new entrepreneur
the business getting into losses
 
marketing any product
market leader

Correct answer
market leader

 
Bypass attack is a strategy of *
0/1
market leader
distributor
retailer
 
market challenger

Correct answer
market challenger

 
Guerrilla attack is a strategy of *
1/1
market leader
distributor
retailer
market challenger
 
 
Specific-customer specialist is a strategy of *
0/1
follower
leader
 
Challenger
Market Nicher

Correct answer
Market Nicher

 
Intensive strategy is *
0/1
market analysis
 
Market testing
product withdrawal
product development

Correct answer
product development

 
Industries created by technological innovations, emergence of new consumer
needs, or shifts in relative cost relationships *
0/1
fragmented
intensive
 
competitive
Emerging industries

Correct answer
Emerging industries

 
A ___ is one that has passed through the transition from the period of fast growth
to more modest or stable growth. *
1/1
Fragmented industry
Emerging industry
Mature industry
 
Declining industry

 
Changing role of suppliers and channels is possible in *
0/1
fragmented
 
intensive
competitive
Emerging industries

Correct answer
Emerging industries

 
Which of the following option is a strategic dimension? *
0/1
Fraudulent practices
divesting
Quality restrictions
 
Innovation

Correct answer
Innovation

 
Various competencies and resources of an organization can be integrated into a
chain of activities that an organization performs to meet customer demand. This is
called _______ *
0/1
value chain
product life cycle
innovation
 
business process

Correct answer
value chain

 
In a strategic group *
0/1
group of companies follows same strategies in a specified market
A group of companies follows different strategies in a specified market
A group of companies follows same strategies in different target markets
 
None of the above

Correct answer
group of companies follows same strategies in a specified market

 
_______ is a new tool for the systematic review of strategy by board members
without directly involving themselves with the management of companies. *
0/1
Strategic review
Management review
 
Strategic planning
Strategic audit

Correct answer
Strategic audit

 
Select the statement that best applies to emergent strategies. Emergent Strategy
------------------------ *
0/1
implies an ability to react to events
implies strategizing
 
implies no deviation from plans
implies constant evaluation of the bigger picture

Correct answer
implies an ability to react to events

 
International Business has recently grown at such a rapid pace because of *
1/1
stricter government policies on cross-border movements
development of institutions to support and facilitate trade
 
decreasing global competition
companies increased concerns with terrorism

 
Which of the following is one of the four key elements which must be adhered to if
synergy is to be achieved ? *
1/1
Efficiency
Competitive strategies
Customer satisfaction
Effective leadership
 
 
What term is used for an organisation’s abilities to renew and recreate its strategic
capabilities to meet the needs of a changing environment ? *
1/1
Competent substitution
Core competence
Renewability
Dynamic capabilities
 
 
A competitor finds it difficult to identify the basis of an organisation’s competitive
advantage. What term is used for this situation ? *
1/1
Independent causality
Causal dependency
Causal ambiguity
 
Ambiguous intercausality

 
There are different styles of managing strategic change. Which of the following are
the potential benefits of ‘direction’ as a change style *
1/1
Clarity and speed
 
Increasing ownership of a decision or process
Maintaining control over the change process while also involving people in it
Overcoming lack of information or misinformation

 
What is the key outcome from PESTEL analysis ? *
1/1
Five forces
Identification of the drivers for change
 
Critical success factors
Possible scenarios
 
Regional Integration Is _________ *
1/1
multi-lateral trading
removing the barriers for group countries
 
managing exchange rate
anti-dumping tariff

 
Part of ------------------------ is perceived and associated with people’s inability to
understand what is going on. *
1/1
Volatility
Uncertainty
 
Complexity
Ambiguity

 
In order to secure or sustain competitive advantage, _______ may have to be
continuously developed and adjusted to competence levels. *
1/1
skills
talent
resources
 
equipment

 
Change in culture, attitude, and mindset calls for: *
1/1
Engagement, involvement and motivation of employees
Rigorous performance appraisal
Performance benchmarking
Organization design change
 
 
In the marketing management functions, an SWOT analysis should ___________ a
marketing plan.
1/1
precede
 
coincide with
follow
evaluate
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