Strategic Management
The main reason for the transition from corporate planning to strategic management during the latter half of the 1970s was:
A more turbulent business environment that became increasingly difficult to predict
The relationship between design and emergence in strategy making is best described as:
A process in which intended strategy is adapted as it is implemented PreviousNext
Strategy improves decision-making by:
A. Reducing the number of choices being consideredB. Integrating and pooling the knowledge of different members of the organizationC. Facilitating the use of analytic toolsD. All of these **D. All of these
For both individuals and businesses, successful strategies are characterized by:
Clear goals, deep understanding the competitive environment, careful resource appraisal, and effective implementation
A conceptualization the firm as an "activity system" is a means of depicting:
Consistency among a firm's activities PreviousNext
The division of responsibility between corporate and business strategy is consistent with the following principle:
Corporate level strategy is the domain of headquarters executives; divisional managers are responsible for business strategies
The main difference between corporate level strategy and business level strategy is:
Corporate strategy defines the scope of a firm's activities, while business strategy focuses on how to beat the competition in specific product markets PreviousNext
The primary distinction between corporate strategy and business strategy is:
Corporate strategy is concerned with where the firm competes; business strategy with how it competes
The main problem of SWOT as a framework for strategy analysis is that:
Distinguishing opportunities from threats and strengths from weaknesses is often difficult
The successful careers of both Queen Elizabeth II and Lady Gaga may be attributed to the fact that both:
Have a consistency of direction based on clear goals
The extent to which an organization's strategy is determined by decentralized emergence rather than by centralized design depends mainly upon:
How turbulent and unpredictable is the external environment of the organization
When the environment becomes more turbulent and unpredictable:
Strategy becomes an increasingly important as a source of direction
In the military field, we generally make the following distinction between strategy and tactics:
Tactics relate to specific actions whereas strategy relates to the overall plan*
Strategic fit refers to:
The consistency of a firm's strategy with its external and internal environments
Military strategy and business strategy differ in that:
The objective of military strategy is to defeat the enemy; business strategy seeks coexistence rather than annihilation
In strategic management, the expression "blue oceans" refers to:
The potential offered by uncontested market space
The principal similarity between business and military strategy is that:
They share common concepts and principles
The primary purpose of strategy is:
To achieve success
The two questions of "where" and "how" to compete define:
a firm's corporate and business strategies
Strategic goals should be:
a. Simple b. Consistent c. Long term d. All of the above ** All of the above