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    Strategic Management Questions Latest Strategic Management MCQ Objective Questions a r ea Start Complete Exam Preparation Cee roe er Practice Pancras Ciketes Ce Cites Download App Question 1: View this Question Online > Strategic planning involves the following steps. Arrange them in the proper sequence. i. Division planning . Business planning Corporate planning iv. Product planning 2. ili, iii, iv 3. ii, jii,iv,i Answer (Detailed Solution Below) Option 1: j,i, iv coaching India’s Super Teachers for all govt. exams Under One Roof Gea or oad Strategic Management Question 1 Detailed Solution The correct answer is i, ii, ii, iv © Key Poi The correct sequence of the strate sic planning steps is: + Corporate planning * Business planning * Division planning + Product planning Here is a brief explanation of each step: * Division planning is the third level of stm into even smaller, more specific goals fF « Business planning is the next lev overall goals into smaller, more sp: + Corporate planning is the highest le overall goals and obj + Product planning is the lowest level of strategic planning. It defines the specific goals for each product or service. ic planning. It breaks down the business unit goals h division, planning, It breaks d c goals for each business unit. of strategic planning. It defines the organization's wn the organization's It is important to note that these steps are not always linear. In some cases, organizations may need to go back and forth between steps as they develop their strategic plan. & Additional Information Here is an example of how these steps might be applied in a real-world situation. Let's say a company is considering expanding into a new market. The first step would be to develop a corporate plan that defines the company’s goals for the expansion. The next step would be to develop business plans for each of the company’s business units. The business plans would define how each business unit will contribute to the company's overall goals. Finally, the division plans would define how each division will contribute to the business unit goals. The product planning process would then begin. The product plans would define the specific goals for each product or service that the division will offer in the new market & ee ELT Ce Start Complete Exam Preparation RCC DR erosion oe a Clifoete serine Cera Download App Question 2: View this Question Online > Arrange the following strategy implementation steps in the proper sequence, i. Corporate strategy ’ ii, Strategic altematives and choice ili, SBU objectives iv. SWOT analysis of SBU v. Implementation vi. Evaluation and control 4. ili, iyi, iv, v, vi Answer (Detailed Solution Below) Option 2: Strategic Management Question 2 Detailed Solution The correct sequence of the strategy implementation steps is i, © Key Points 1. Develop a corporate strategy The corporate strategy is the overall strategy of the organization. It defines the organization's goals and how it will achieve them. The corporate strategy should be aligned with the organization's mission, vision, and values 2. Conduct a SWOT analysis of each SBU A SWOT analysis is a strategic planning tool that helps organizations identify their strengths, weaknesses, opportunities, and threats. The SWOT analysis shouldibe.conducted for each SBU to. identify the factors thet will affect the SBU’s ability to achieve its goals. 3. Develop strategic alternatives for each SBU Once the SWOT analysis has been conducted, the organization can develop strategic alternatives for each SBU. The strategic alternatives shoul ased on the organization's strengths, weaknesses, opportunities, and threats. 4, Select the best strategic alternative The organization will need to select the best strategic alternative for each SBU. The best strategic alternative will be the one that is most likely to help the SBU achieve its goals. 5. Set SBU objectives Once the best strategic alternative has been selected, the organization will need to set SBU objectives. The SBU objectives should be specific, measurable, achievable, relevant, and time-bound. 6. Implement the strategy The next step is to implement the strategy. This involves developing and executing plans, allocating resources, and managing change 7. Evaluate and control the strategy The final step is to evaluate and control the strategy. This involves monitoring the organization's progress towards its goals and making necessary adjustments Pa atl CRC eee! Start Complete Exam Preparation ete | et aI Cee DB Download App Question 3: View this Question Online > Match the following : List-| List-Il (Porter's (Value ” Generic Strategy) | Disciplines model) co . ustomer Intimacy & e-2b-21 4.a-3,b-1,c-2 Answer (Detailed Solution Below) Option 2: a-1,b -2,¢-3 Strategic Management Question 3 Detailed Solution The correct answer is a-1, b-2, ¢-3. @ Key Points + Differentiation is a strategy where a company seeks to distinguish its pr from those of its competitors. This can be done by offering unique feature: or better customer service. Product leadership is a type of differenti: company seeks to be the first to market with new products risky strategy, but it can be very rewarding if the cor ee + Cost leadership is a strategy where a company see r the lowest possible cost. This can be done by stre: quality, gy where a - This can bea products or services at ions, using efficient production methods, or negotiating favarabl uppliers. Operation excellence is. a type of cost leadership strategy whi strives to achieve the highest possible levels of efficiency ductivity. This can lead to lower costs and higher profits. + Focus is a strategy where a company focuses its attention on a narrow market segment. This pan hs Ss ateahla etratanett the camps iccahle-to ineerctianad thin: nesele abite femiat market and provide products or services that meet those needs better than its competitors. Customer intimacy is a type of focus strategy where a company strives to build close relationships with its customers. This can be done by providing personalized service, offering customized products or services, or responding quickly to customer needs. The Value Disciplines model is a framework that helps companies to understand how they create value for their customers. The three value disciplines are product leadership, operation excellence, and customer intimacy. Each value discipline has its own strengths and weaknesses, and the best value discipline for a particular company will depend on its industry, its target market, and its competitive strategy. Pg ee AB Rate) Start Complete Exam Preparation eCo Do a Ror [ Bee aca rere Download App Question 4: View this Question Online > As per Michael E, Porter's Generic Value Chain Concept, which is not a primary activity in a firm 1. Inbound logistics 2. Operations 3 a. and sales 4, Human Resource Management Answer (Detailed Solution Below) Option 4: Human Resource Management Strategic Management Question 4 Detailed Solution The correct answer is Human Resource Management ® Key Points Michael E. Porter's Generic Value Chain concept consists of two main categories of activities: primary activities and support activities. Primary activities are directly involved in the production, marketing, and delivery of a product or service, while support activitiesjprovide the necessary infrastructure and resources for the primary activities to occur efficiently: The primary activities are: . + Inbound Logistics + Operations ~ * Outbound Logistics + Marketing and Sales * Service Support activities include: + Procurement + Technology Development + Human Resource Management + Firm Infrastructure India’s #1 Learning Platform CR eet Pela meu (CM climes) eh a cel) cis ros oo oes choo Cresta Ext z) Download App Question 5: View this Question Online > Which of the following is not included in McKensey's 7-S framework ? 1, Strategy 2. Structure 3. Software 4. Skills a ofthe above/More than one of the above. Answer (Detailod Solution Bolow) Option 3 : Software Strategic Management Question 5 Detailed Solution © Key Points McKinsey’s 7-5 Framework: An instrument that examines a company's “organisational design” is known as the McKinsey 7S Model. + The model's objective is to illustrate how an organization's effectiveness may be attained through the interactions of seven crucial components: structure, strategy, skill, system, shared values, style, and staff. + The McKinsey 7s Model focuses on how the “Soft Ss" and “Hard Ss” parts are interrelated, suggesting that modifying one element might have a cascading effect on the other elements in order to maintain an effective balance. » Important Points Hard Elements: The hard parts include internal variables that are simple for management to, recognise and control. 1. Strategy: The plan an organisation creates to succeed in its industry or marketis referred to as its strategy. It defines the precise actions the company must take to stay competitive. 2. Structure: A company’s organisational hierarchy is determined by its structure. This influences how each department functions, what duties employees Narra how managers oversee their teams. 3, Systems: The daily practises and workflows that employees use make up an organization's systems. These systems may be referred to as\Standard operating procedures by the company for which you work. Soft Elements: The intangible, eer that are more difficult for management to define and affect are considered so s 1, Shared values: The social norms and standards that shape interactions between team n's shared values. They specify the members and supervisors are known as an arganiza appropriate range of conduct. 2. Skills: All of the qualities and talents that a team member's firm possesses are referred to as its skills. Whether the firm can meet its goals depends in large part on these skills. 3, Style: How a team’s leaders communicate with one another is determined by the organization's management style. It influences employee performance and sets an example for the corporate culture. 4, Staff: The people who work for a business or sit on its board are all considered to be part of an organization's staff. The McKinsey 7-5 fremework looks at a variety of staff characteristics, such as how many people work for a company, what drives them, and how well-prepared they are to do their jobs successfully. Hence, it can be concluded that software is not included in McKensey’s 7-S framework. Top Strategic Management MCQ Objective Questions Ro DRE Ce serine) Reem otc Start Complete Exam Preparation TAU acd Dac cad a rei s xtc) Download App Question 6 View this Question Online > An Information system that captures and records fundamental business events is a(n) 1. Transaction Processing System 2. Executive Information System Decision Support System Pe, 4, Expert System > oO Solution Below) Option 1 : Transaction Processing System Strategic Management Question 6 Detailed Solution An information system is a method of gathering, storing, processing data, and providing information. Organizations and business firms rely on information systems to manage their business operations and interact with customers. Most of the companies are built entirely on the information system for example eBay, Amazon, and Alibaba, © Key Points Transaction Processing System: + Transaction processing systems are used to record and capture the fundamental business events of the organization. + The system is used by the users at the operational management level. The main objective of this system is to answer the questions such as the number of products sold on a particular day, inventory in hand, and outstanding dues for a particular creditor. + Examples of TPS are: = Payroll syste! helps to process the salaries of employees. en ee ey » Important Points Executive Information system: + An executive information system is also called an executive suppoft'system. It isa type of management support system that supports and facilitates Senior executive information and helps in the decision-making process. + This system helps the top management to compare, dialyze, Ghd highlight the important variables so that the opportunities, problems, and performance can be monitored Decision support systems + Itis used by the top management. ke non-routine decisions. This system uses input from the intemal systems such as management information systems and transaction processing systems and external systems. + The objective of this system is to provide solutions to the problems which change frequently and are unique for the business. + It uses statistical techniques and mathematical models to provide solutions to the problems. For example, bank loan management system and financial planning system. Expert System: + An expert system is a computer system that matches the ability of a human expert to make decisions. This system is designed to solve a number of complex reasoning problems through bodies of knowledge. + The expert system helps in centralizing the decision-making process. od ea I aC lla) Roo RR Start Complete Exam Preparation leet Fab (gees poco eerie os Exh Download App ‘Question 7 View this Question Online > Which of the following sequence are the steps of ‘QI chnique of external economic analysis ? 1. Conceptualization Phase — Evali prt Phase — Analysis Phase 2. Preparation Phase ~ ning Phase ~ Option identification Phase — Scenario Development 3 “er = Scanning Phase Evaluation Phase — Strategic Implementation Phase Scanning Phase ~ Segmentation Phase Generative Phase — Review Phase. Answer (Detailed Solution Below) Option 2: Preparation Phase ~ Divergent Planning Phase ~ Option identification Phase —~ Scenario Development Phase Strategic Management Question 7 Detailed Solution The correct answer is Preparation Phase — Divergent Planning Phase — Option identification Phase — Scenario Development Phase. © Key Points QUEST Technique: + QUEST stands for the Quick Environmental Scanning Technique. + This technique is designed to analyze the environment quickly and inexpensively so businesses cen focus on critical issues that must be addressed promptly. + It attempts to analyze the forces of nature by analyzing the impact of developments and patterns that are occurring in the market. » Important Points STEPS IN QUEST TECHNIQUE 1. Preparatory Phase < The first step in the QUEST analysis is to do preliminary preparations. These initial tasks are: co + Definition of environmental concerns. * Choose the participants for a study (around 12 to 15). ® + Provide complete details regarding the recent trends in the covtranmees FB mpany. + Choose the place to conduct the research (e) 2. Divergent Planning Phase + After the preparatory work is completed, the séttin: © organization’s operations are conducted is evaluated. + The first step is identifying the compalay’s vision, mission, and goals. Strategic leaders SOS A Se Ce tee ee ee ae + For this, you must study the nature and portance of the business environment. 3. Option Identification Phase + After analyzing the necessary alternative actions, one of them is chosen + The results are compiled in a short report when the business environment is examined. + The first section outlines the organization's strategy, and the second section focuses on the possibilities for the future presented to the organization. 4. Scenario Development Phase + The strategic leaders must discuss the report during a meeting and then analyze the various options available to the company. + You can evaluate the multiple options as per the organization's future direction. + It does nt provide a strategy to be developed but rather highlights the problems and issues to be considered when forming the strategy. Hence, the correct answer is Preparation Phase — Divergent Planning Phase — Option idemtfication Phase — Scenario Development Phase. India's #1 Learning Platform Rea eet Start Complete Exam Preparation raed foes Mock Tests a col resieacid Exeter) Download App ‘Question 8 View this Question Online > Match List | with List Il List-1 Management style Approach lLove conquers all pproach ine plus one can 8 Frrenagement | (I) add upto three pproach wuthority- € besos wpe lanagement proach cam peak no evil, hear D. (IV) fo evil, see no evil acs tiara tees roach. Choose the correct answer from the options Jo 1. @)-(,(8)- (WD, © - pa! G 2. (A)- Of & LO (uy som ~ (, (©) - (VY), (©) - (1) \ (A) - (Hl), (B) - AY), (©) - ©) - Answer (Detailed Solution Below) Option 3: (A) - (II), (B) - (9, (©) - (IV), (©) - () Strategic Management Question 8 Detailed Solution The correct answer is (A) - (III), (B) - (I), (C) - (IV), (D) - (II). © key Peints LIST | LIST II Management Styles |Approach |a,[Task Management —_fiti|uthority-obedience approach Love conquers all approaches- J, [Country Club j Management . |. impoverished Ispeak no evil, hear no evil, see no evil Management liVlapproach- Oe plus one can Sdd upto three » Important Points e Task Management: + This type of leadership can be effective in gettiggyzeople to dowwhat the leader wants them to do. When people feel that they must obey a are more likely to comply with his or her requests. + Authority-obedience leadership can help to maintain order within an organization. If everyone follows the leader's orders, then there is less chance of chaos or disorder. + This type of leadership can help to promote efficiency within an organization. + When people are required to obey the leader, they are less likely to waste time or resources + Authority-obedience leadership can foster loyalty among followers. Country Club Management: + The Country Club or “accommodating” style of manager is most concemed about their team members’ needs and feelings. + They assume that, as long as their people are happy and secure, they'll work hard + What tends to be the result is a work environment that is very relaxed and fun, but where productivity suffers because there is a lack of direction and control. Impoverished Management: + The Impoverished or “indifferent” manager is mostly ineffective. + With a low regard for creating systems that get the job done, and with little interest in creating a satisfying or motivating team environment, this manager's results are inevitably disorganization, dissatisfaction and disharmony. + Its often known as Speak no evil, hear no evil and see no evil approach as here the manager has low regards for both production and people. Team Management: + Team managers prioritize both the organization's production needs and their people's needs. + They do this by making sure that their team members understand the organi and by involving them in determining production needs. + Often known as the “One plus one can add upto three” SP perry Start Complete Exam Preparation Ret ern! Talend Practice nw ed tec Ext Dosciapey Download App Question 9 View this Question Online > ‘What out of the following are the involvements o7 the Strategic human Resource Management in Corporate Strategy? ‘A. Human Resources Management is fully integrated with the strategy and the strategic needs of the firm. B. Human resource policies cohere both across eo cross hierarchies. C. Human Resource practices are adjust pi used by line managers and employees as part of their daily work. D. Human Resources architect sed of the systems, practices, competencies, and employee performa at reflect the development and management of the firm's human resources. Choose the iate answer from the options given below: A,B, Conly B, CD only 3. A,B,C,andD # A.C, D only Answer (Detailed Solution Below) Option 3: A B,C, and D Strategic Management Question 9 Detailed Solution Pp key-Points Strategic Human Resouce Management (SHRM): oO + SHRM is a concept that ensures that the traditional HR management practices ble! with the firm's overall strategic planning and implementation program. + SHRM enhances the productivity and efficiency of an organizati + SHRM refers to managing people in a manner that helps in acl Is by effectively supporting and servicing business strategies, + SHRM involves a set of internally consistent polici es designed and implemented to make sure that a firm's human capital cont achievement of business + Human Resources architecture js compo: systems, practices, competencies, and employee performance bel that reflect the development and management of the firm's human resources. + Schuler has developed a more comprehensive academic definition of SHRM, “Strategic Human Resource Management is largely about integration and adaptation. Its concem is to ensure that - (1) human resources (HR) management is fully integrated with the strategy eS eee across hierarchies; and (3) HR practices are adjusted, accepted and used by line managers and employees as part of their everyday work”. + Strategic Human Resource Management has four implications: * Use of planning, * Clear and comprehensive approach of design and management of employees based on HR strategy and driven by philosophy, + Congruence between the HR activities, policies and business strategy * Treating employees as a strategic resource of the organization helps latter in achieving competitive advantage over others. Therefore, statements A, B, C and D are the involvements of the Strategic Human Resource Management in Corporate Strategy. India’s #1 Learning Platform Start Complete Exam Preparation ein ma Clietes cs Renae ey Download App Question 10 View this Question Online > A company in packaged tea business provides special service to its institutional buyers, apart from its consumer sales through market intermediaries, in order to encourage bulk buying and thus improving marketing efficiency, is ayexample of 1, No change strategy 2. Profit strategy 3. Stability strategy. ores -with-caution strategy Answer (Detailod Solution Bolow) Option 3: Stability strategy Strategic Management Question 10 Detailed Solution The correct answer is Stability Strategy @ Key Points + Strategy refers to the tactical course of action which is specifically designed to achieve the pre- determined long term goals of the organization. There are mainly three types of strategies according to their levels, namely: + Corporate Level Strategy - Business Level Strategy - Functional Level Strategy + Corporate Level Strategy : Under this level of strategy, en action is taken to geteompstitive advantage in the market and strategic decisions related with wider policies of an organization is taken place at this level. According to Michael Porter, there are basically four strategic alternatives available with corporate level strategy, namely + Stability Strategy ; Expansion Strategy - Retrenchment Strategy : Combination Strategy + Stability Strategy: in this type of strategy, 2 company concentrates on maintaining its current market share as well as adopts an progressive approach which helps to keep them on safer side and also generaléslisctter revenue ; For Example: Slightly on product, Same product with special service etc. + Stability strategy can be further divided into three parts, such as: No change strategy, Profit strategy and Caution strategy. + Under No change strategy, a firm don't make any major changes in the process/ planning. + Profit strategy is suitable for achieving short term gains. it may include increase in the price of product, Cost cutting technique etc + Caution Strategy is suitable when a firm want to proceed cautiously with regard to any strategy. So, When a company in packaged tea business provides special service to its institutional customers through market intermediaries in order to encourage bulk buying and improving its marketing efficiency, then clearly it is an example of Stability Strategy. ca Dee area RCC Ree Daas Start Complete Exam Preparation Cal] pay ead Master iesieac cag Download App ‘Question 11 View this Question Online > Complex Buying Behaviour is characterised by 1. Products are of low risk but the involvement level ishigh 2. When the level of involvement is high and the significant difference between brands is low 3. When the levehof invélvement is low and significant difference among brands is high Way: level of involvement is high and significant difference among brands is high Answer (Detailed Solution Below) Option 4: When the level of involvement is high end significant difference among brands is high Strategic Management Question 11 Detailed Solution 0 Key-Points Complex Buying Behavior: + Complex buying behavior occurs when there is high involvement of consumers with the purchase and when there are highly significant differences among the brands: + Consumer behaves differently when purchasing an expensive product or a produict that is unfamiliar to him, + In complex buying behavior, the buyer will pass through a learning process. + A consumer wil ist develop beliefs about the product themattitude and then making 2 thoughtful purchase choice. * This type of behavior is mostly associated with ‘her purchase of a newhome or a personal computer. + Such tasks are complex as the risk involvedhin them is high and the highly significant differences between brands or products requife gathering a substantial amount of information before purchase. + Marketers who wish to ARB buying task must help the consumer process the information es readily 2s pos + This may include informing the consumer about the product category and also its important attributes, providing detailed information on product benefits, and motivating sales personnel to influence the final brand choice. + For example, realtors’ Web sites typically ofmakefer extensive photographs and videos and full descriptions of each available home. + And a computer sales representative is likely to spend time providing information to customers who have questions. Therefore, Complex Buying Behaviour is characterized by the level of Involvement being the high and significant differences among brands is high. eer ec Start Complete Exam Preparation CR emer hero te ips ced Dae Postal resists Pre) Download App ‘Question 12 Match List | with List II LIST ListI (Strategy to achieve (Acquisition ‘Play’) performance premium) \cquire synergistic ise borrowing capacity and other A product / market |. financial strengths to achieve an sition immediate performance premium inticipate shortages and price increases in the physical assets! Value. invest to exploit the resource, using istribution capacity. .cquire a company [B. with under utilized |i. nancial strength equire an |c inderskilled company il] ina related industry chieve scale economies of istribution, production and technology , \pply superior marketing, technology apy nd production expertise to enhance the| petitive position and performance f the acquisition candidate A-ill, B-.C-IV,D-ll 2. A-IV,B-1l,C-1,D-IIl 3. A-Ill, B-1V,C-I,D 4. A-I,B-Il,C-1,D-1V Answer (Detailed Solution Below) Option 1: A- Ill, B-1,C-IV, D-II View this Question Online > otategic Management Question 12 Detailed soluuon The correct answer is A- Ill, B-1, C -IV,D -Il. © Key Points The correct match i: A. Acquire synergistic product / market position - Ill. Achieve scale economies of distribution, production, and technology Acquiring a synergistic product or market position involves seeking opportunities to achieve economies of scale in distribution, production, and technology. By combining resources, capabilities, and market presence, the acquiring company can benefit from cost efficiencies, broader market reach, and improved competitiveness. The strategy focuses on leveraging synergies to achieve scale economies and enhance overall performance. B. Acquire a company with underutilized financial strength - I. Use borrowing capacity and © other financial strengths to achieve an immediate performance premium Acquiring a company with underutilized financial strength allows the acquiring company to Neverage its own financial resources, including borrawing capacity, to achieve an immediate performance premium. By injecting capital and utilizing financial strengths effectively, the acquiring company can improve operational capabilities, invest in growth opportunities, and enhence overall financial performance. C. Acquire an underskilled company in a related may LW. Apply superior marketing, technology, and production expertise to e the competitive position and performance of the acquisition candidate Acquiring an underskilled company in a related industry involves leveraging the acquiring company’s superior marketing, technology, and production expertise to enhance the competitive position and performance of the acquisition candidate. By leveraging its strengths and capabilities, the acquiring company can improve the operations, optimize processes, introduce innovative marketing strategies, and enhance overall performance. D. Acquire an underexploited physical asset - II. Anticipate shortages and price increases in the physical assets' value. invest to exploit the resource, using distribution capacity. Acquiring an underexploited physical asset involves identifying physical assets with the potential for shortages and price increases in their value. The acquiring company anticipates the market dynamics and invests to exploit the resource effectively. By leveraging its distribution capacity and making strategic investments, the acquiring company can capture the value of the underexploited physical asset and achieve a performance premium. Hence, the correct answer is A - Ill, B- 1, C-IV,D- I. eRe eon pea OR Ceo a cost Sela iia Exam Preparation Pea oats Par Der Cresieacig Px) Download App Question 13 View this Question Online > Which of the following comprises the interdependent troika of waste, overburden and unevenness in the ‘lean’ manufacturing? A. Muri: Unreasonable work stress on men and machines RoOaicRcREM quant, promucnnty ang DR Muda: Non value adding work. | D. Uncertainty in task times, in demand and customer's role. E. Mura: Inconsistency and Variation in work flow, speed and quality. Choose the most appropriate answer from the options given below: Conly 2. C, Dand E only 3. A, Cand Donly 4. A, Cand E only Answer (Detailed Solution Below) Option 4: A, C and E only Strategic Management Question 13 Detailed Solution = + The correct answer is A, C and E only. ‘ © Key Points _ Lean Manufacturing: ‘ ae A. Muri: Unreasonable work stress on men and machines. Muri refers to overburden or strain placed on individuals or equipment beyond their normal capabilities. It involves assigning tasks that are t0o difficult or demanding, leading to fatigue, errors, breakdowns, and inefficiencies. Lean manufacturing aims to identify and eliminate muri to create a more balanced and sustainable wi C. Muda: Non-value adding work. Pe ESE i, A ee ee ee VEL Sh nek Re eas a PE EA SAIN ESE Ske GONE So nMOS Ws STENTS nT tLe TP A GENT TESTERS TOL By Ne RRR NE nae ROE ts waste in the form of unnecessary processes, defects, excess inventory, waiting time, overproduction, unnecessary transportation, and overprocessing. Eliminating muda is a key principle of lean manufacturing. E. Mura: Inconsistency and variation in work flow, speed, and quality. Mura refers to unevenness or inconsistency in the flow of work, speed of production, and quality levels, It includes fluctuations in demand, uneven workloads, and unpredictable variations in process performance. Reducing mura is essential to achieving smooth, efficient, and predictable operations in lean manufacturing. Hence, the correct answer is A, C and E only. od ee amu Beit Pela me (MCU m cele liel) eee eter i] Pan ie Da resend Exc) Dos ccrery Download App Question 14 View this Question Online > String of activities that moves a product from the raw material stage through manufacturing and distribution, and ultimately to the end user is called: 1. Business model 2. Business verticals 3. Value chain 4, Business concept -m. (Detailed Solution Below) Option 3: Value chain Strategic Management Question 14 Detailed Solution The correct answer is value chain. Value Chain: + The value chain represents the series of activities involved in cresting value for a product or service. + It encompasses all the activities that contribute to the design, production, marketing, delivery, and support of a product from its inception to its consumption by the end user. + The value chain consists of both primary activities and support activities. Primary activities include inbound logistics (procurement and receiving of raw materials), operations (manufacturing and assembly), outbound logistics (warehousing and distribution), marketing and sales, and after-sales service. + Support activities include procurement, technology development, human resource management and infrastructure. © Additional Informa’ Business Model: + A business model is a framework that describes how a company creates, delivers, and captures value. : + It outlines the way a business operates, generates revenue, and sustains itself in the market. It includes elements such as the value proposition, target customers, revenue streams, cost structure, key resources, and key activities. Business Verticals: + Business verticals refer to distinct market segments or divisions within a company that focus on specific products, services, tries. * A company may have multiplé bu! verticals to cater to different customer segments or to diversify its offerings across various industries. + Each business vertical may have Its own unique value proposition, target market, and operational focus. Business Concept: + A business concept refers to the core idea or proposition upon which a business is based. It encapsulates the fundamental concept or innovation that drives the business and differentiates it from competitors. + A business concept may involve a new product or service, a unique approach to solving a problem, or a disruptive business model. + It represents the underlying concept that gives the business its identity and guides its strategy and operations. Hence, the correct is Value Chain. & eee erie a Start Complete Exam Preparation CRE acc ree ok aca Does Colney esieacrig tele) Download App ‘Question 15 View this Quastion Online > Concept of ‘fit’ is central to which of the following schools of thought on strategy formulation? 1. The positioning school 2. The cognitive school 3. The planning school

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