1. In order for the organization to? thrive, the senior leadership team must loo
ID: 431131 • Letter: 1
Question
1. In order for the organization to? thrive, the senior leadership team must look within the corporation itself to identify? _________________________ that are likely to determine whether a firm will be able to take advantage of opportunities while avoiding threats.
A. strategic threats
B. strategic strengths
C. strategic opportunities
D. internal strategic factors
E. Internal weakness
2. Which of the following statements correctly describes Jay? Barney's VRIO framework? analysis?
A. VRIO framework of analysis is a type of analysis that proposes four questions to evaluate a? firm's competences:? Value, Resources,? Intensity, and Organization.
B. VRIO framework of analysis is a type of analysis that proposes four questions to evaluate a? firm's competences:? Value, Resources,? IFAS, and Organization.
C. VRIO framework of analysis is a type of analysis that proposes four questions to evaluate a? firm's competences:? Value, Rareness,? Industry, and Organization.
D. VRIO framework of analysis is a type of analysis that proposes four questions to evaluate a? firm's competences:? Value, Resources,? Imitability, and Organization.
E. VRIO framework of analysis is a type of analysis that proposes four questions to evaluate a? firm's competences:? Value, Rareness,? Imitability, and Organization.
3. A business model includes the key? __________________________ characteristics of a firm- how it earns revenue and makes a profit
A. strategic
B. structural and operational
C. tactical
D. sales and financial
E. structural and financial
4. A business model is usually composed of five elements. Of the? following, which is NOT among the five? elements?
A. who it serves
B. how it provides its product/service
C. what it provides'
D. how it is managed
E. how it differentiates and sustains competitive advantage
5. The simplest way to begin an analysis of a? corporation's value chain is by carefully examining its? ______________
A. traditional strategic areas for potential strengths and weaknesses.
B. non-traditional areas for potential strengths and weaknesses.
C. traditional functional areas for potential strengths and weaknesses.
D. traditional functional areas for potential opportunities and threats.
E. non-traditional functional areas for potential opportunities and threats.
6. If one of the basic structures does not easily support a strategy under? consideration, top management must decide whether the proposed strategy is feasible or whether the structure should be changed to a? __________
A. divisional structure that accommodates many product lines.
B. less complicated structure with SBUs.
C. simpler structure such as a functional structure
D. less complicated structure such as a simple structure.
E. more complicated structure such as a matrix or network.
7. Corporate culture fulfills several important functions in an organization. Of the? following, which is NOT one of those important? functions?
A. Conveys a sense of identity for employees.
B. Serves as a frame of reference for employees to use to make sense of organizational activities and to use as a guide for appropriate behavior.
C. Creates a business model that maximizes revenue potential.
D. Helps generate employee commitment to something greater than themselves.
E. Adds to the stability of the organization as a social system.
8. Once a company has crafted the elements that constitute their competitive? advantages, the implementation of that strategy begins with a? __________________ grounded in those advantages that every individual in the company can use to make decisions.
A. useful, focused mission
B. useful focused tactical plan
C. focused competitive strategy
D. focused effective strategic plan
E. useful, focused value chain
9. A? well-crafted mission statement has several common elements. Which of the following is NOT one of the common elements of a? well-crafted mission? statement?
A. actionable and tactical
B. measurable
C. short and memorable
D. simple and understandable
E. direction to employees
10. Which of the following statements best describes the core difference between competitive and cooperative business? strategies?
A. Cooperative strategy is a temporary market? opportunity; competitive strategies last over the length of the? business' life.
B. Competitive strategy is developed as a part of the strategic? plan; cooperative strategies are opportunistic in nature.
C. Competitive strategy is intentional and? long-term; cooperative strategy is unintentional and more? short-term.
D. In a competitive? strategy, each entity works in its own? interest; cooperative strategies can also be competitive and involve two or more entities working together to compete against others.
E. A cooperative business strategy has the ability to provide unique and superior value to the buyer in terms of product? quality, special? features, or? after-sale services.
11. Companies or business units may form a strategic alliance for a number of reasons. Which of the following is NOT one of the primary reasons companies or business units form a strategic? alliance?
A. to obtain or learn new capabilities
B. to obtain access to specific markets
C. to reduce financial risk
D. to share management and staff
E. to reduce political risk
Explanation / Answer
1. The correct answer is strategic strengths because using them only a firm would be able to capitalise on the existing opportunities. Strategic threats and internal weaknesses cannot be parameter to judge the same and similarly for all the other options.
2. E is the correct answer as all other options have one or the other term mis written or less explained.
3. Sales and revenue fits in the best as we are talking about the profits earned by selling products. Strategic structural and operational would all relate to internal effectiveness to capitalise on opportunities rather than sales and profits.
4. How it is managed is the correct answer as it is the holistic term that does not directly fits in the 5 elements of the business model. Rest all are correct and forms a part.
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