Term
| The essence of strategy is ___________ , which forces trade off in terms of what to do, what not to do |
|
Definition
| Choosing an unique competitive position |
|
|
Term
| Strategy formulation is about crafting a long term vision for an organization while maintaining a degree of flexibility about how to get there and creating a portfolio of options for adopting the change. ___________ is an essential component of this process. |
|
Definition
|
|
Term
| Executive summary of the strategic goals a company has adopted and a motivational message |
|
Definition
|
|
Term
| According to Jim Collins, which is NOT a significant factor in determining a company’s ability to achieve greatness |
|
Definition
|
|
Term
| In crafting a vision statement, two important lessons are worth learning. Which one is NOT mentioned as lessons in text? |
|
Definition
| Understanding the company’s sources of competitive advantage |
|
|
Term
| What really works” there are four primary practices that winning companies use to achieve excellence. Which is included in the 4 primary practices? |
|
Definition
a. A clear stated, focused strategy
b. A performance, oriented culture
c. A fast, flexible, flat orientation
d. All are primary practices. |
|
|
Term
| Whereas economists, a financial analysts focus on value created for shareholders, strategists tend to focus on creating sustainable competitive advantage through value delivered to ______ |
|
Definition
|
|
Term
| According to Collins, the quality to ensure of top leadership defined a significant difference between good and great companies. Collins identified level 5 leaders as a common shareholder of a great company. Level 5 leaders display an unusual mix to infuse determinant and profession |
|
Definition
|
|
Term
| The “Hedgehog” concept is used as a metaphor to describe the idea that great companies_____ |
|
Definition
| Do one thing better than any other company in the world. |
|
|
Term
| The authors of the text distilled the founding of two recent books as successful companies (“Good to Great” and “What Really Works”) into 6 primary findings which of the following is included in their findings : |
|
Definition
a. Company’s strategy
b. Ability to execute
c. Leadership and talent pool
d. All are important. |
|
|
Term
| Which one o the following is not one of the "Globalization" mentioned in the text? |
|
Definition
|
|
Term
| The Text mentioned a number of implications that changes in the global environment can have for strategy formulation. Those implications include which of the following? |
|
Definition
| Diminishing importance of Location and Increased importance of human capital |
|
|
Term
| Corporate Social Responsibility better aligns corporate activities with ___________________ expectations of shareholders. |
|
Definition
| SOCIAL, ECONOMIC, AND ENVIRONMENTAL |
|
|
Term
| According to the text, when analysts are uncertain it is important to look at uncertainty after all__________ change forces have been analyzed. |
|
Definition
|
|
Term
| According to the text, in characterizing how firms deal with uncertainty, ___________ drive industry toward a structure that is toward their benefits. |
|
Definition
|
|
Term
| When analyzing uncertainty, level 3 uncertainty would suggest that adapters would be: |
|
Definition
| More aggressive as opportunities emerge |
|
|
Term
| The first fundamental determinant of a firm's profitability is industry __________ |
|
Definition
|
|
Term
| The five forces determine industry profitability because they influence which of the following in the industry? |
|
Definition
|
|
Term
| Industry structure determines who keeps what proportion of the ___________ a product or service creates for buyers. |
|
Definition
|
|
Term
| According to Porter, _________ is at the core of the success or failure of firms |
|
Definition
|
|
Term
| An industry is assessed on a number of dimensions including products, customers, and _________ |
|
Definition
| geography & production-distribution pipeline |
|
|
Term
| When performing industry analysis it is important to distinguish between the industry and ________ |
|
Definition
|
|
Term
| In competitive analysis, the crucial question in determining profitability is weather firms can capture the value they create for buyers on whether this value is competed away to others. _________ determines who captures the value. |
|
Definition
|
|
Term
| Industry profits are the function of supply and demand. However, the supply and demand volume can be affected by industry structure which would include all of the following except: |
|
Definition
| Exit Barriers preventing firms from entering industry |
|
|
Term
| According to Porter, which of the following are a major barrier to market entry? |
|
Definition
| Capital requirements *I think the answer is C but I don’t have the book next to me to verify… look up this answer…. |
|
|
Term
| According to Porter, suppliers are generally more powerful when: |
|
Definition
| There are few dominant companies. |
|
|
Term
| When examining the trajectories of change, which can describe how industries evolve. ______ change suggests that the firm’s core assets are threatened and the core activities retain their value. |
|
Definition
|
|
Term
| According to the product lifecycle model, in which stage is the Powers of Suppliers LOW, and Barriers to Entry HIGH |
|
Definition
|
|
Term
| Two central questions underline the choice of competitive strategy. 1- Attractiveness of industries for long term _________ and the factors that determine it, and 2- the determinants of relative competitive__________ within the industry? |
|
Definition
|
|
Term
| __________ is the process of driving an industry in market into relatively homogenous minimally overlapping segments that benefit from distinctive competitive strategies. |
|
Definition
|
|
Term
| A company's strategic resource base consists of which type of assets? |
|
Definition
|
|
Term
| Value chain analysis is based on the idea that every firm is a collection of blank, that are necessary in order to design, produce, market, and support its products: |
|
Definition
|
|
Term
| linkages can lead to competitive advantage in 2 ways: optimization and |
|
Definition
|
|
Term
| resources are ____________ when they enable a firm to conceive or implement strategies that improve its efficiency and effectiveness. |
|
Definition
|
|
Term
| ___________________ focuses on cash flow generation which is the principal determinant of shareholder wealth. |
|
Definition
| shareholders value analysis |
|
|
Term
| competitive scope can have a powerful effect on competitive advantage. There are 4 dimensions of scope that affect the value chain including: |
|
Definition
A) segment scope B) geographic scope
C) vertical scope
D) all of the above |
|
|
Term
| Organizational resistance to change can take 4 basic forms including all of the following except: |
|
Definition
A) close mindsets reflecting supports from obsolete business beliefs
**B) change momentum that is productive but not in tune with current strategies C) structural, organizational rigidities
D close parentheses entrenched cultures reflecting value not conducive to change |
|
|
Term
| ___________ exists when the link between the resources controlled by a firm and the sustained competitive advantage is not understood: |
|
Definition
|
|
Term
| Barney suggested for empirical indicators of the potential of further resources to generate sustained competitive advantage, which included all of the following except: |
|
Definition
|
|
Term
| A firm's internal stakeholders include which of the following? |
|
Definition
|
|
Term
| According to Teece et. al. competitive advantage is associated with which of the following? |
|
Definition
a. distinctive processes.
b. evolution paths
c. competitive forces
d. A & B *** |
|
|
Term
| According to Teece et al, the likehood that competitive advantage is eroded is based on all of the following except: |
|
Definition
a. Stability of market demand
b. Ease of replicability
c. VALUE OF THE RESOURCES ***
d. all of the above. |
|
|
Term
| The dynamic capability approach focuses in the way in which combinations of resources can be developed, _________ , and protected. |
|
Definition
a. DEPLOYED ***
b. appropriated
c. monetized
d. all of the above. |
|
|
Term
| When discussing dynamic capabilities, the term "dynamic" is meant to signing the capacity of the firms to renew competencies so as to match: |
|
Definition
a. Historical path dependencies
b. THE CHANGING BUSINESS ENVIRONMENT ***
c. internal resource capabilities
d. all of the above (pg. 515 , paragraph 2) |
|
|
Term
| The ___________ views the strategic problem as one of interaction between rivals with certain expectations about how each other will behave |
|
Definition
|
|
Term
| Generally speaking which of the following activities would not be considered a dynamic capability? |
|
Definition
a. Integrating resources
b. Reconfiguring resources
c. gaining of releasing of resources
d. ALL OF THE ABOVE *** |
|
|
Term
| Effective dynamic capabilities have certain commonality serves firms, but at the same time are __________ in details |
|
Definition
a. complicated
b. IDIOSYNCRATIC ***
c. Inimitable
d. Appropriable |
|
|
Term
| Effective dynamic capabilities in high velocity markets are__________________ |
|
Definition
a. SIMPLE ***
b. complex
c. Inimitable
d. Predictable |
|
|
Term
| According to Eisenhand and Martin in which of the following does the potential for long-term competitive advantage lie? |
|
Definition
a. creating differentiable resources
b. leverage existing resources
c. USING DYNAMIC CAPABIITIES MORE FORTUITOUSLY ***
d. the substitutability of resource configuration |
|
|
Term
| Overall, dynamic capabilities are best conceptualized as tools that ____________ |
|
Definition
a. MANUPULATE RESOUCES CONFIGURATIONS ***
b. allow the firm to match competitors
c. exploit VRIN firm-specific resources
d. all of the above |
|
|
Term
| The relative profitability of rival firms depends on the nature of their competitive position lie on their ability to create a sustainable competitive advantage vis a vis their _________ |
|
Definition
a. COMPETITORS ***
b. Customers
c. Suppliers
d. Shareholders |
|
|
Term
| Managers face 4 key challengers in formulating competitive strategy at the business unit level. These four challenges include all the following except: |
|
Definition
a. FOCUSING ON THE NEXT BIG THING
b. Analyzing the completive advantage
c. Anticipating key competitors actions
d. Choosing among the alternatives |
|
|
Term
| Achieving ________ requires a ruthless devotion to minimizing costs through continuous improvement in manufacturing, process engineering, manufacturing, process engineering, and other cost reducing strategies. |
|
Definition
a. COST LEADERSHIP
b. differentiation
c. focus with differentiation
d. none of the above. |
|
|
Term
| The two generic routers to competitive advantage-low cost and differentiation are fundamentally different. _____________ is about redefining the rules by which costumers arrive at their purchase decisions by offering something unique that is valuable. |
|
Definition
a. DIFFERENTIATION
b. Cost Leadership
c. Focus with cost leadership
d. None of the above. |
|
|
Term
| According to Treacy and Wierseman value disciplines describe different ways that companies can create value for customers. These ways include all the following except : |
|
Definition
a. PORTER`S FIVE FORCES
b. product leadership
c. operational excellence
d. customer intimacy |
|
|
Term
| In growth industries, competitors tend to focus on expanding their _______ |
|
Definition
a. MARKET SHARE
b. resource base
c. internal capabilities
d. Supplier pool |
|
|
Term
| When introducing new product or services, the first company to come out with new products or services often has _________ |
|
Definition
a. FIRST MOVER ADVANTAGE
b. cost disadvantage
c. barrier to profitability
d. all of the above. |
|
|
Term
| Firms earn attractive profits during the long maturity stage of an industry’s growth when they do all the following except: |
|
Definition
a. FOCUS ON TURNAROUND OPPORTUNITIES.
b. concentrate on segments that offer chances for high growth
c. streamline production
d. gradually harvest the business |
|
|
Term
| ____________ are those in which no single company or small group of firms has a large enough market share to strongly affect industry structure. |
|
Definition
|
|
Term
| According to Porter`s the essence of strategy is choosing to performs ____________ differently than rivals do. |
|
Definition
|
|
Term
| _________________ is an entry strategy that is relatively low risk, but can entail substantial cost and limited control. |
|
Definition
a) Licensing
b) Strategic Alliance
c) Exporting***
d) Joint Venture |
|
|
Term
| A global company must assess global risk. _________________ risk relates to politically induced action and policies initiated by a foreign government. |
|
Definition
a) Political***
b) Legal
c) Societal
d) All of the above |
|
|
Term
| _________________ is an entry strategy that is relatively low risk, but can entail substantial cost and limited control. |
|
Definition
a) Licensing
b) Strategic Alliance
c) Exporting***
d) Joint Venture |
|
|
Term
_________________ is defined as a strategy of entering product
markets different from those in which a company is currently engaged. |
|
Definition
|
|
Term
| 1. The ___________ holds that, as a result of national endowments, same countries or regions of the world are more efficient than others in producing political goods. |
|
Definition
| a. Theory of Corporate Advantage *** |
|
|
Term
| __________ explains why particular regions of the world attract certain global industries. |
|
Definition
a. A Cluster analysis
b. Porter’s National Diamond ***
c. The theory of corporative advantage
d. Porter’s five forces. |
|
|
Term
| 3. With regards to industry globalization drivers, ____________, are measures that define how customers’ behavior patterns evolve and converge. |
|
Definition
a. Cost globalization driers
b. Competitive drivers
c. Race car drivers
d. Market drivers *** |
|
|
Term
| 4. Ghemawat offers three generic approaches to global value creation. __________ strategies seek to increase revenues and market share by tailoring one or more components of a company’s business module to suit local requirements or preferences. |
|
Definition
a. Adoption ***
b. Aggregation
c. Arbitrage
d. Tailoring |
|
|
Term
| 5. Ghemawat offers 3 generic approaches to global value creation. __________ strategies focus on achieving economies of scale or scope by creating regional or global efficiencies. |
|
Definition
|
|
Term
| 6. De Kluyver mentions five dimensions of globalization the objective of which is to make thoughtful decisions about which strategy elements can and should be globalized, which of the following is not one of those dimensions. |
|
Definition
a. Market participation
b. Standardization
c. Activity concentration
d. All of the above *** |
|
|
Term
| 7. With regards to global strategy formulation, __________ is a strategy that can be described as buying low in one market and selling high in another market. |
|
Definition
a. Arbitrage ***
b. Appropriability
c. Cost leadership
d. Differentiation |
|
|
Term
| 8. Which of the following is not mentioned by Kluyver as a nonmarket factor that can affect global corporate success? |
|
Definition
a. Chance ***
b. Social
c. Political
d. Legal |
|
|
Term
| Corporate strategy is concerned with about which business the company operates, which includes actions that shape the __________ of businesses. |
|
Definition
a. Corporate portfolio ***
b. Profit potential
c. Competitive advantage
d. Market share potential |
|
|
Term
| Corporate strategy is concerned with how to create value by _________ among multiple business units. |
|
Definition
a. Exposing competitive gaps
b. Exploiting synergies ***
c. Creating linkages
d. All of the above |
|
|
Term
| Which of the following is not one of the five areas, mentioned by Lenge, that managers should concentrate on in developing a learning organization, |
|
Definition
a. Encourage more systems thinking
b. Favoring a shared vision
c. Challenging existing mental models
d. All are important*** |
|
|
Term
| An effective strategic planning process requires explicit analysis of possible synergies and trade-offs between and among the various components of the portfolio. According to the text, which of the following is not encompassed by corporate strategic planning process? |
|
Definition
a. Creates specific linkages between businesses
b. Defines the boundaries of the corporate portfolios
c. Established group structures
d. All are important *** |
|
|
Term
| For the most companies, their core is defined in terms of their most valuable products, most important ________, and distinctive capabilities |
|
Definition
a. Strategies
b. Channels ***
c. Employees
d. None of the above |
|
|
Term
| The _______________ to corporate strategy plots business based on the stage of an industry evolution and the strength of the company’s competitive position. |
|
Definition
a. Value-based approach
b. Resource-based approach
c. McKinsey market-activated approach
d. Life cycle matrix approach *** |
|
|
Term
| The ___________ to corporate strategy focuses on maximizing shareholders value by treating each business unit to separate entities that are valued according to their cash flows. |
|
Definition
a. Value-based approach. ***
b. Resource-based approach
c. McKinsey market-activated approach
d. Life cycle matrix approach |
|
|
Term
| One way to characterize corporate growth strategies is by using product-market choice as the primary creation which is not a product market criterion. |
|
Definition
a. Concentrated growth
b. Vertical and horizontal integration
c. Diversification
d. Core product focus *** |
|
|
